Data from Fidelity futures charts indicates Russell 2000 mini contracts consolidating after hitting 2,072, suggesting traders await Fed commentary. Small-cap performance hinges on tightening credit conditions and potential fiscal support measures in late summer. So says Peter Lynch, who made it his mantra while successfully managing Fidelity Investment’s Magellan Fund FMAGX between 1977 and 1990, averaging a 29.2% annual return and consistently outperforming the S&P 500 SPX. Lynch retired as manager at the age of 46, but at 81 remains vice chairman of Fidelity Management and Research. Fidelity launched the Fidelity Managed Futures ETF ( FFUT ) on The Nasdaq Stock Market LLC on June 5. The new managed futures ETF is a liquid alternative strategy. It aims to capitalize on market trends through disciplined, systematic long/short investing. FFUT is available commission-free for individual investors and financial advisors through Fidelity's online brokerage platforms. FFUT's investment strategy focuses on capital appreciation in all market conditions. Fidelity's managed futures ETF aims to generate strong risk-adjusted returns , especially when equity markets decline. In an effort to reach this objective, FFUT employs a strategy designed to identify and capitalize on sustained price trends, whether upward or downward, across a diverse range of markets. These include equities, fixed income, currencies, and commodities. Finally, the fund uses futures, forwards, and other derivatives to implement this approach. Sharp upticks in Fidelity futures volume coincided with institutional program trades, particularly in Nasdaq megacaps. Liquidity indicators suggest sustained demand for index exposure ahead of Fed comments.