The ETF seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the Fidelity Canada International Low Volatility Index (the Index). It invests primarily in equity securities of large and mid-capitalization foreign companies that have their principal business activities or interests outside of Canada or the U.S. with lower volatility than the broader international equity market. The Index is designed to reflect the performance of stocks of large- and mid-capitalization developed international companies, excluding Canadian and U.S.-based companies, with lower volatility than the broader international equity market.