Fidelity MSCI Communication Services
ALTAR
Score™
5.2% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
23.2x P/Sales
ratio
2.3x
P/BV
ratio
2.9x Div.
yield
1.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
FCOM seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Communication Services 25/50 Index.

FUND BASICS
Category US Equities
Fund Sponsor FMR LLC
Website www.fidelity.com
Inception date Oct 24, 2013
Assets (mns) $462
Currency USD
Expense ratio 8 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust Co
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 111
Wgt avg mkt cap (mns) $351,914
Large cap (>$10bn) 83.2%
Mid cap ($2-10bn) 13.0%
Small cap (<$2bn) 3.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
FACEBOOK 14.6 %
ALPHABET INC. CLASS C 12.0 %
ALPHABET INC. CLASS A 11.4 %
AT&T INC 7.8 %
WALT DISNEY CO/THE 4.9 %
NETFLIX INC 4.6 %
VERIZON COMMUNICATIONS INC 4.3 %
COMCAST CORP-CL A 4.2 %
CHARTER COMMUNICATIONS, INC. CLASS 2.9 %
ACTIVISION BLIZZARD INC 1.7 %
Total 68.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.0 %
BRITAIN 0.8 %
CANADA 0.2 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
19.9% 12.1% 8.1% -- 8.2%

Market Correlations
versus... Beta R-squared
S&P500 0.79 49%
MSCI EAFE 0.72 35%
MSCI Emg. Mkts. 0.41 19%

Technical Indicators
Recent close $34.73
30d moving avg. $34.08
Annualized volatility 13.6%
Short interest (ETF) 0.0%
Short interest (Underlying) 4.7%
Relative strength (RSI) 69

Liquidity measures
Avg. volume (thou.) 62
Turnover 0.5%
Bid/Ask (% of price) 0.11%
ADV underlying (mns) $15,557

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Fidelity MSCI Communication Services ETF based on the alternatives' overlap in portfolio holdings with FCOM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FCOM Expense: 8 bp ALTAR Score™: 5.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FCOM
Ticker Fund
Name
Overlap1
vs FCOM
(%)
Expense
ratio
(bp)
Savings
vs FCOM
(bp)
ALTAR
Score™
(%)
ALTAR
vs FCOM
(%)
VOX Vanguard Communication Services 95.3 10 -2 5.4 +0.2
XLC Communication Services Select Sector SPDR 76.5 13 -5 6.4 +1.2
IXP iShares S&P Global Comm. Services 67.7 46 -38 6.3 +1.1
JHCS John Hancock Multifactor Media & Communications 63.3 40 -32 6.3 +1.1
EWCO Invesco S&P 500 Equal Weight Comm. Services 47.8 40 -32 7.9 +2.7
IEME iShares Evolved U.S. Media and Entertainment 40.1 18 -10 6.7 +1.5
PNQI Invesco Nasdaq Internet 25.6 62 -54 2.8 -2.4
FDN First Trust DJ Internet 24.6 52 -44 3.3 -1.9
IYC iShares DJ US Consumer Services 22.3 42 -34 5.1 -0.1
TTTN TigerShares China-U.S. Internet Titans 22.2 59 -51 3.9 -1.3
ENTR ERShares Entrepreneur 30 21.9 49 -41 3.9 -1.3
QYLD Global X NASDAQ 100 Covered Call ETF 21.8 60 -52 4.9 -0.3
QQQ Invesco QQQ 20.9 20 -12 5.2 +0.0
TMFC Motley Fool 100 Index 18.4 50 -42 4.4 -0.8
SOCL Global X Social Media 18.4 65 -57 4.7 -0.5
IYZ iShares U.S. Telecommunications 18.4 42 -34 8.2 +3.0
XLG Invesco S&P Top 50 18.1 20 -12 5.2 -0.0
PBS Invesco Dyn Media Port 17.9 63 -55 6.3 +1.1
IYW iShares US Technology 17.8 42 -34 5.1 -0.1
IGM iShares S&P N. American Technology 17.8 46 -38 4.6 -0.6

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

Content on this tab for subscribers only

VALUATION METRICS
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Fidelity MSCI Communication Services
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 13.7 %
Divided by: Fwd. P/BV 2.6 x
Less: Expense ratio 8 bp
Equals: ALTAR Score 5.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.36 CATEGORY
AVERAGE
1.55
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.