Fidelity Investments on Thursday launched four funds it classifies as being thematic—three are mutual funds; the other is an exchange-traded fund.

Fidelity’s world of thematic investing entails five categories: disruption, megatrends, environmental social and governance (ESG), outcome oriented and differentiated insights.

In that vein, the new funds comprise the following:

• Fidelity Infrastructure Fund (FNSTX) invests in listed infrastructure such as airports, highways, railroads and marine ports, along with utilities infrastructure, energy pipelines, cell towers and other infrastructure companies. This fund is actively managed and is benchmarked to the S&P Global Infrastructure Index. Its net expense ratio is 1.1%.

• Fidelity U.S. Low Volatility Equity Fund (FULVX) contains companies identified by Fidelity’s equity research team as “buy” rated. The fund’s strategy combines fundamental stock selection with quantitative portfolio construction techniques focused on reducing absolute portfolio risk. It aims to produce returns in excess of the fund’s benchmark over a full market cycle of generally five to eight years, but with lower absolute volatility. This product is benchmarked to the Russell 3000 Index, and charges a net expense ratio of 0.95%. 

• Fidelity Enduring Opportunities Fund (FEOPX) employs fundamental research emphasizing investments that Fidelity analysts believe have attractive long-term potential. The fund is benchmarked to the MSCI All Country World Index, and carries an expense ratio of 1.1%

• Fidelity Stocks for Inflation ETF (FCPI) tracks the Fidelity Stocks for Inflation Factor Index targeting sectors and industries that have historically outperformed in periods of rising inflation. The fund invests in large- and mid-capitalization U.S. companies based on three factors: value, quality and momentum. The expense ratio is 0.29%.

Fidelity’s thematic product lineup now has 16 mutual funds and ETFs.