Fidelity Investments has made its first big step in becoming a provider of actively managed ETFs.

The firm has filed for Fidelity Corporate Bond Fund (FCBFX). The firm's first actively managed fund will hold corporate bonds and be a sibling of Fidelity Corporate Bond Fund (FCBFX).

Like Corporate Bond Fund, which is an open-ended corporate bond-oriented mutual fund that launched in May 2010, the active ETF should appeal to investors seeking targeted exposure to the corporate sector.

Morningstar surmised that Fidelity is moving forward with an actively managed bond ETF first because of its fixed-income group's strength in fundamental, research-driven security selection.

Prior reports state that Fidelity may be preparing to creating actively managed ETFs based on its "Select" line of mutual funds, which focus on specific industries, Morningstar reported.

The firm had filed in December with the Securities and Exchange Commission to expand its exemptive relief in the passive ETF space. The firm issues one passively managed ETF, Fidelity Nasdaq Composite Index Tracking.

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