Fidelity Momentum Factor ETF
ALTAR
Score™
4.1% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
27.2x P/Sales
ratio
4.1x
P/BV
ratio
5.7x Div.
yield
1.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Fidelity Momentum Factor ETF tracks an index large-cap US stocks selected for positive momentum signals.

FUND BASICS
Category US Equities
Fund Sponsor Fidelity
Website screener.fidelity.com
Inception date Sep 12, 2016
Assets (mns) $90
Currency USD
Expense ratio 29 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Tiered
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 125
Wgt avg mkt cap (mns) $423,324
Large cap (>$10bn) 90.7%
Mid cap ($2-10bn) 8.8%
Small cap (<$2bn) 0.0%
Developed mkts 99.5%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 6.7 %
MICROSOFT CORP 5.7 %
AMAZON.COM INC 4.6 %
ALPHABET INC. CLASS A 3.3 %
FACEBOOK 2.5 %
BERKSHIRE HATHAWAY INC-CL B 1.9 %
NVIDIA CORP 1.8 %
UNITEDHEALTH GROUP INC 1.7 %
TESLA MOTORS INC 1.5 %
PROCTER & GAMBLE CO/THE 1.5 %
Total 31.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.7 %
BRITAIN 0.6 %
UNITED KINGDOM 0.5 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
14.7% 18.9% -- -- 14.8%

Market Correlations
versus... Beta R-squared
S&P500 0.98 93%
MSCI EAFE 0.96 74%
MSCI Emg. Mkts. 0.69 61%

Technical Indicators
Recent close $39.95
30d moving avg. $40.21
Annualized volatility 17.9%
Short interest (ETF) 0.7%
Relative strength (RSI) 47

Liquidity measures
Avg. volume (thou.) 24
Turnover 1.1%
Bid/Ask (% of price) 0.17%
ADV underlying (mns) $7,003

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Fidelity Momentum Factor ETF ETF based on the alternatives' overlap in portfolio holdings with FDMO. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FDMO Expense: 29 bp ALTAR Score™: 4.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FDMO
Ticker Fund
Name
Overlap1
vs FDMO
(%)
Expense
ratio
(bp)
Savings
vs FDMO
(bp)
ALTAR
Score™
(%)
ALTAR
vs FDMO
(%)
MTUM iShares Edge MSCI USA Momentum Factor ETF 53.6 15 14 5.0 +0.9
SPMO Invesco S&P 500 Momentum ETF 51.7 13 16 5.8 +1.7
BKLC BNY Mellon US Large Cap Core Equity ETF 49.8 0 29 6.0 +1.9
IWL iShares Russell Top 200 ETF 49.8 15 14 5.7 +1.6
MMTM SPDR S&P 1500 Momentum Tilt ETF 49.6 12 17 6.1 +2.0
MGC Vanguard Mega Cap Index Fund 48.5 7 22 5.9 +1.8
MGK Vanguard Mega Cap Growth ETF 47.6 7 22 6.0 +2.0
IWY iShares Russell Top 200 Growth ETF 47.4 20 9 6.0 +1.9
IWF iShares Russell 1000 Growth ETF 47.2 19 10 5.5 +1.4
VUG Vanguard Growth Index Fund 46.6 4 25 5.5 +1.4
VONG Vanguard Russell 1000 Growth Index Fund 46.5 8 21 5.6 +1.5
VOOG Vanguard S&P 500 Growth ETF 46.5 10 19 5.7 +1.6
PBP Invesco S&P 500 BuyWrite ETF 46.1 49 -20 5.6 +1.6
IVW iShares S&P 500 Growth ETF 45.9 18 11 5.6 +1.6
SPYG SPDR Portfolio S&P 500 Growth ETF 45.9 4 25 5.8 +1.7
SCHG Schwab U.S. Large-Cap Growth ETF 45.8 4 25 5.4 +1.4
FQAL Fidelity Quality Factor ETF 45.6 29 0 6.2 +2.1
HSPX Global X S&P 500 Covered Call ETF 45.6 60 -31 5.5 +1.4
OEF iShares S&P 100 ETF 45.5 20 9 5.8 +1.7
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 45.5 7 22 5.9 +1.8
IVV iShares Core S&P 500 ETF 45.3 3 26 6.0 +1.9
SPXV ProShares S&P 500 Ex-Health Care ETF 45.3 27 2 5.7 +1.6
XYLG Global X S&P 500 Covered Call & Growth ETF 45.3 60 -31 5.6 +1.5
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 45.3 20 9 5.6 +1.5
SPY SPDR S&P 500 ETF Trust 45.2 9 20 6.0 +1.9
SPLG SPDR Portfolio Large Cap ETF 45.2 3 26 6.0 +1.9
IUSG iShares Core S&P US Growth ETF 45.1 4 25 5.7 +1.6
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 45.0 20 9 6.0 +1.9
SPXE ProShares S&P 500 Ex-Energy ETF 44.9 27 2 6.0 +1.9
XOUT GraniteShares XOUT U.S. Large Cap ETF 44.8 60 -31 5.3 +1.2
BBUS JP Morgan Betabuilders U.S. Equity ETF 44.8 2 27 5.9 +1.8
ESGV Vanguard ESG U.S. Stock ETF 44.7 12 17 5.8 +1.7
EFIV SPDR S&P 500 ESG ETF 44.6 10 19 6.0 +1.9
VOO VANGUARD S&P 500 ETF 44.5 3 26 6.0 +1.9
SNPE Xtrackers S&P 500 ESG ETF 44.5 10 19 5.9 +1.9
VV Vanguard Large-Cap Index Fund 44.5 4 25 5.8 +1.7
PBUS Invesco PureBeta MSCI USA ETF 44.5 4 25 5.9 +1.8
ESGU iShares MSCI USA ESG Optimized ETF 44.2 15 14 5.7 +1.6
XLG Invesco S&P 500 Top 50 ETF 44.2 20 9 5.8 +1.7
SPXN ProShares S&P 500 Ex-Financials ETF 44.0 27 2 5.7 +1.6
SCHX Schwab U.S. Large-Cap ETF 43.9 3 26 5.9 +1.8
SYG SPDR MFS Systematic Growth Equity ETF 43.3 60 -31 5.3 +1.2
SCHK Schwab 1000 Index ETF 43.0 5 24 5.8 +1.7
AFLG First Trust Active Factor Large Cap ETF 42.9 55 -26 6.3 +2.2
SFY SoFi Select 500 ETF 42.9 0 29 5.5 +1.4
HIPR Direxion High Growth ETF 42.8 40 -11 6.8 +2.7
IWB iShares Russell 1000 ETF 42.8 15 14 5.6 +1.6
IYY iShares Dow Jones U.S. ETF 42.6 20 9 5.7 +1.6
CATH Global X S&P 500 Catholic Values Custom ETF 42.5 29 0 5.8 +1.7
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 42.4 9 20 6.1 +2.0
IQSU IQ Candriam ESG US Equity ETF 42.4 9 20 6.1 +2.0
TMFC Motley Fool 100 Index ETF 42.3 50 -21 5.1 +1.1
SPTM SPDR Portfolio Total Stock Market ETF 42.2 3 26 6.1 +2.0
VONE Vanguard Russell 1000 ETF 42.1 8 21 5.7 +1.6
VTHR Vanguard Russell 3000 Index Fund 41.2 10 19 5.6 +1.5
QYLD Global X NASDAQ 100 Covered Call ETF 40.9 60 -31 5.4 +1.3
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 40.7 60 -31 5.3 +1.2
QQQ Invesco QQQ Trust 40.6 20 9 5.7 +1.6
SCHB Schwab U.S. Broad Market ETF 40.6 3 26 5.7 +1.6
NUSI Nationwide Risk-Managed Income ETF 40.5 68 -39 5.5 +1.4
AIEQ AI Powered Equity ETF 40.5 87 -58 2.7 -1.4
IWV iShares Russell 3000 ETF 40.5 20 9 5.5 +1.4
ITOT iShares Core S&P Total U.S. Stock Market ETF 40.3 3 26 5.7 +1.6
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 39.8 15 14 7.0 +2.9
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 39.6 75 -46 4.1 -0.0
GBGR Global Beta Momentum-Growth ETF 39.5 29 0 4.3 +0.2
JMOM JPMorgan U.S. Momentum Factor ETF 39.5 12 17 3.9 -0.2
RECS Columbia Research Enhanced Core ETF 39.0 15 14 6.5 +2.4
ESG FlexShares STOXX US ESG Impact Index Fund 39.0 32 -3 5.6 +1.5
VTI Vanguard Total Stock Market Index Fund 38.9 3 26 5.6 +1.5
EXT WisdomTree U.S. Total Earnings Fund 38.8 28 1 6.0 +1.9
ACIO Aptus Collared Income Opportunity ETF 38.6 79 -50 5.1 +1.0
QLC FlexShares US Quality Large Cap Index Fund 38.5 32 -3 5.9 +1.8
FVAL Fidelity Value Factor ETF 38.2 29 0 8.4 +4.3
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 38.2 49 -20 5.6 +1.5
ADME Aptus Drawdown Managed Equity ETF 38.1 79 -50 4.3 +0.2
EPS WisdomTree U.S. Earnings 500 Fund 37.4 8 21 7.1 +3.0
RFFC RiverFront Dynamic US Flex-Cap ETF 37.3 52 -23 5.5 +1.4
IGM iShares Expanded Tech Sector ETF 36.7 46 -17 5.2 +1.1
IETC iShares Evolved U.S. Technology ETF 36.4 18 11 5.8 +1.8
TECB iShares US Tech Breakthrough Multisector ETF 36.2 40 -11 4.7 +0.6
ECOZ TrueMark ESG Active Opportunities ETF 36.1 58 -29 4.2 +0.1
DSI iShares MSCI KLD 400 Social ETF 35.9 25 4 5.0 +0.9
WOMN Impact Shares YWCA Women's Empowerment ETF 35.9 75 -46 5.0 +1.0
SPXT ProShares S&P 500 Ex-Technology ETF 35.9 27 2 5.5 +1.4
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 35.7 12 17 5.0 +0.9
STLG iShares Factors US Growth Style ETF 35.2 25 4 6.1 +2.0
SYE SPDR MFS Systematic Core Equity ETF 35.1 60 -31 6.5 +2.4
KRMA Global X Conscious Companies ETF 35.0 43 -14 5.7 +1.6
SPQQ Siren Large Cap Blend Index ETF 34.6 20 9 5.2 +1.1
NACP Impact Shares NAACP Minority Empowerment ETF 34.5 75 -46 5.6 +1.5
VEGN US Vegan Climate ETF 34.5 60 -31 5.7 +1.6
FTC First Trust Large Cap Growth AlphaDEX Fund 34.4 61 -32 2.9 -1.2
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 34.2 21 8 3.5 -0.6
MMLG First Trust Multi-Manager Large Growth ETF 34.1 85 -56 2.5 -1.6
PWB Invesco Dynamic Large Cap Growth ETF 34.1 56 -27 3.7 -0.4
SFYF SoFi 50 ETF 33.9 29 0 2.7 -1.4
SUSL iShares ESG MSCI USA Leaders ETF 33.7 10 19 5.2 +1.2
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 33.7 10 19 5.2 +1.2
SUSA iShares MSCI USA ESG Select ETF 33.7 25 4 5.3 +1.2

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 Momentum Factor 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 21.9 %
Divided by: Fwd. P/BV 5.0 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 4.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.44 CATEGORY
AVERAGE
1.51
 
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.