Fidelity MSCI Telecommunication Services Index ETF
ALTAR
Score™
5.1% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
21.2x P/Sales
ratio
2.3x
P/BV
ratio
2.7x 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) $503
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 106
Wgt avg mkt cap (mns) $389,371
Large cap (>$10bn) 84.8%
Mid cap ($2-10bn) 11.9%
Small cap (<$2bn) 3.3%
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 7.2 %
NETFLIX INC 5.4 %
COMCAST CORP-CL A 4.2 %
VERIZON COMMUNICATIONS INC 4.1 %
WALT DISNEY CO/THE 3.9 %
CHARTER COMMUNICATIONS, INC. CLASS 3.1 %
T-MOBILE US, INC. 1.9 %
Total 67.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.9 %
BRITAIN 0.7 %
CANADA 0.1 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
0.6% 15.9% 10.1% -- 8.9%

Market Correlations
versus... Beta R-squared
S&P500 0.77 52%
MSCI EAFE 0.72 38%
MSCI Emg. Mkts. 0.44 24%

Technical Indicators
Recent close $36.35
30d moving avg. $37.28
Annualized volatility 13.0%
Short interest (ETF) 0.1%
Short interest (Underlying) 4.7%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 174
Turnover 1.3%
Bid/Ask (% of price) 0.05%
ADV underlying (mns) $20,024

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Fidelity MSCI Telecommunication Services Index ETF 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™: 5.1%


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 Telecommunication Services Index Fund 97.9 10 -2 5.1 -0.0
XLC The Communication Services Select Sector SPDR Fund 76.2 13 -5 6.0 +0.9
IXP iShares Global Telecom ETF 68.3 46 -38 6.1 +1.0
JHCS John Hancock Multifactor Media & Communications ETF 64.0 40 -32 5.7 +0.6
EWCO Invesco S&P 500 Equal Weight Communication Services ETF 48.0 40 -32 6.5 +1.4
IEME iShares Evolved U.S. Media & Entertainment ETF 39.8 18 -10 6.3 +1.2
PNQI Invesco NASDAQ Internet ETF 25.0 62 -54 2.5 -2.6
PBS Invesco Dynamic Media ETF 24.1 63 -55 3.2 -1.9
FDN First Trust Dow Jones Internet Index Fund 23.4 52 -44 3.1 -2.0
IYC iShares U.S. Consumer Services ETF 22.2 42 -34 4.7 -0.4
QYLD Global X NASDAQ 100 Covered Call ETF 21.2 60 -52 4.6 -0.5
TTTN UP Fintech China-U.S. Internet Titans ETF 21.0 59 -51 3.8 -1.3
QQQ Invesco QQQ Trust 20.2 20 -12 4.8 -0.3
NUSI Nationwide Risk-Managed Income ETF 19.6 68 -60 4.5 -0.6
SOCL Global X Social Media ETF 18.8 65 -57 3.0 -2.1
ENTR Entrepreneur 30 Fund 18.7 49 -41 2.8 -2.3
TMFC Motley Fool 100 Index ETF 18.1 50 -42 4.1 -1.0
IYZ iShares U.S. Telecommunications ETF 18.1 42 -34 7.6 +2.5
XLG Invesco S&P 500 Top 50 ETF 17.8 20 -12 5.2 +0.1
IGM iShares North American Tech ETF 17.5 46 -38 4.4 -0.7

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

  2015 2016 2017 2018 2019 2020E 2021E
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

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VALUATION METRICS
  2019 2020E 2021E
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 Telecommunication Services Index ETF
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 13.8 %
Divided by: Fwd. P/BV 2.7 x
Less: Expense ratio 8 bp
Equals: ALTAR Score 5.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.38 CATEGORY
AVERAGE
1.56
 
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.