FIDELITY COVINGTON TRUST
NSAR-B, 1999-02-26
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<PAGE>      PAGE  1
000 B000000 12/31/98
000 C000000 0000945908
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 FIDELITY COVINGTON TRUST
001 B000000 811-7319
001 C000000 6037917483
002 A000000 82 DEVONSHIRE ST
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  1
007 C010100  1
007 C020100 FIDELITY REAL ESTATE HIGH INCOME FUND II
007 C030100 N
007 C010200  2
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 FIDELITY MANAGEMENT & RESEARCH COMPANY
008 B00AA01 A
008 C00AA01 801-7884
008 D01AA01 BOSTON
008 D02AA01 MA
008 D03AA01 02109
011 A00AA01 FIDELITY DISTRIBUTORS CORPORATION
011 B00AA01 8-8775
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02109
012 A00AA01 FIDELITY INV. INSTITUTIONAL OPERATIONS CO.INC
012 B00AA01 84-00216
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02109
013 A00AA01 PRICEWATERHOUSECOOPERS LLP
<PAGE>      PAGE  2
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02109
014 A00AA01 FIDELITY BROKERAGE SERVICES INC.
014 B00AA01 8-23292
014 A00AA02 FIDELITY DISTRIBUTORS CORP.
014 B00AA02 8-8775
014 A00AA03 FIDELITY BROKERAGE SERVICES
014 B00AA03 8-0000
014 A00AA04 NATIONAL FINANCIAL SERVICES CORP.
014 B00AA04 8-26740
015 A00AA01 THE BANK OF NEW YORK
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10286
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00  236
019 C00AA00 FIDELITYZZ
020 A000001 LEHMAN BROTHERS, INC.
020 B000001 13-2518466
020 C000001     39
020 A000002 GOLDMAN, SACHS & CO
020 B000002 13-5108880
020 C000002     36
020 A000003 FIDELITY CAPITAL MARKETS, INC.
020 B000003 00-0000000
020 C000003     34
020 A000004 PRUDENTIAL SECURITIES, INC.
020 B000004 22-2347336
020 C000004     31
020 A000005 PAINEWEBBER, INC.
020 B000005 13-2638166
020 C000005     27
020 A000006 MORGAN (J.P.) SECURITIES, INC.
020 B000006 13-3224016
020 C000006     18
020 A000007 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
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020 C000007     18
020 A000008 MERRILL LYNCH, INC.
020 B000008 13-5674085
020 C000008     16
020 A000009 BT ALEX BROWN, INC.
020 B000009 52-1319768
020 C000009     15
020 A000010 MORGAN STANLEY & CO., INC.
020 B000010 13-2655998
020 C000010     13
<PAGE>      PAGE  3
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022 A000003 FIDELITY CONTRA FUND INC.
022 B000003 00-0000000
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022 A000004 FIDELITY REAL ESTATE INVESTMENT PORTFOLIO
022 B000004 00-0000000
022 C000004      2527
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022 A000005 SALOMON SMITH BARNEY, INC.
022 B000005 13-1912900
022 C000005      2267
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022 A000006 NOMURA SECURITIES INTL. INC.
022 B000006 13-2642206
022 C000006      2130
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022 B000008 13-3224016
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022 A000010 FIDELITY CAPITAL APPRECIATION FUND
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080 A00AA00 AMERICAN INTERNATIONAL SPECIALTY INSURANCE CO
080 B00AA00 FEDERAL INSURANCE COMPANY
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025 B000101 13-3224016
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025 A000102 DONALDSON, LUFKIN & JENNETTE SECURITIES CORP.
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025 C000102 D
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<PAGE>      PAGE  10
025 A000103 NOMURA SECURITIES INTL. INC.
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025 C000103 D
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SIGNATURE   JOHN H. COSTELLO                             
TITLE       ASSISTANT TREASURER 
 


<TABLE> <S> <C>

<ARTICLE>	6 

<CIK>	0000945908

<NAME>	Fidelity Covington Trust

<SERIES>

	<NUMBER>	11

	<NAME>	Fidelity Real Estate High Income Fund II

<MULTIPLIER>	1,000

       

<S>

<C>

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year
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dec-31-1998
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dec-31-1998
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200,312
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191,704
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1,526
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19
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0
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567
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0
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211
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778
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0
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8,868
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111
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(9,245)
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0
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4,062
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0
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1,093
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9,354
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(9,228)
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0
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11,956
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0

        



</TABLE>


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