Fidelity Momentum Factor ETF
ALTAR
Score™
5.2% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
19.2x P/Sales
ratio
2.4x
P/BV
ratio
3.3x Div.
yield
1.7%


  • 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) $74
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 124
Wgt avg mkt cap (mns) $255,475
Large cap (>$10bn) 92.2%
Mid cap ($2-10bn) 7.8%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MICROSOFT CORP 5.4 %
APPLE INC 4.9 %
AMAZON.COM INC 3.8 %
ALPHABET INC. CLASS A 3.1 %
FACEBOOK 1.9 %
VISA INC-CLASS A SHARES 1.8 %
JPMORGAN CHASE & CO 1.7 %
MERCK & CO. INC. 1.7 %
PROCTER & GAMBLE CO/THE 1.6 %
MASTERCARD INC-CLASS A 1.5 %
Total 27.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.8 %
IRELAND 1.3 %
BRITAIN 1.2 %
BERMUDA 0.6 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 29)
Year-to-date 1 year 5 years 10 years Since Incep.
-5.9% 4.7% -- -- 10.6%

Market Correlations
versus... Beta R-squared
S&P500 0.96 88%
MSCI EAFE 0.84 61%
MSCI Emg. Mkts. 0.58 41%

Technical Indicators
Recent close $30.97
30d moving avg. $33.25
Annualized volatility 13.4%
Short interest (ETF) 0.2%
Relative strength (RSI) 37

Liquidity measures
Avg. volume (thou.) 24
Turnover 1.0%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $131,144

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™: 5.2%


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
(%)
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 50.5 15 14 6.7 +1.4
MMTM SPDR S&P 1500 Momentum Tilt ETF 49.5 12 17 6.4 +1.2
HSPX Global X S&P 500 Covered Call ETF 47.5 65 -36 6.1 +0.9
PBP Invesco S&P 500 BuyWrite ETF 46.9 49 -20 6.5 +1.3
VOOG Vanguard S&P 500 Growth ETF 46.6 10 19 5.5 +0.2
SPYG SPDR Portfolio S&P 500 Growth ETF 46.6 4 25 5.5 +0.3
IVW iShares S&P 500 Growth ETF 46.6 18 11 5.4 +0.2
MGC Vanguard Mega Cap Index Fund 46.1 7 22 6.6 +1.3
IUSG iShares Core S&P US Growth ETF 46.1 4 25 5.7 +0.4
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 45.6 20 9 6.4 +1.1
IWL iShares Russell Top 200 ETF 45.6 15 14 6.4 +1.1
MTUM iShares Edge MSCI USA Momentum Factor ETF 45.4 15 14 5.3 +0.1
SNPE Xtrackers S&P 500 ESG ETF 45.2 11 18 6.6 +1.3
SPXV ProShares S&P 500 Ex-Health Care ETF 45.0 27 2 6.5 +1.3
IVV iShares Core S&P 500 ETF 44.5 4 25 6.8 +1.6
SPY SPDR S&P 500 ETF Trust 44.5 9 20 6.8 +1.5
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 44.4 20 9 6.8 +1.5
SPLG SPDR Portfolio Large Cap ETF 44.3 3 26 6.9 +1.6
SPXE ProShares S&P 500 Ex-Energy ETF 44.3 27 2 6.7 +1.4
VOO VANGUARD S&P 500 ETF 44.2 3 26 6.8 +1.6
OEF iShares S&P 100 ETF 44.1 20 9 6.1 +0.9
VV Vanguard Large-Cap Index Fund 43.7 4 25 6.7 +1.4
JMOM JPMorgan U.S. Momentum Factor ETF 43.4 12 17 4.9 -0.4
SPXN ProShares S&P 500 Ex-Financials ETF 43.3 27 2 6.4 +1.1
PBUS Invesco PureBeta MSCI USA ETF 43.3 4 25 6.8 +1.6
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 43.3 29 0 5.4 +0.1
BBUS JP Morgan Betabuilders U.S. Equity ETF 42.9 2 27 6.8 +1.5
SCHX Schwab U.S. Large-Cap ETF 42.3 3 26 6.7 +1.5
FDLO Fidelity Low Volatility Factor ETF 42.3 29 0 6.2 +1.0
VUG Vanguard Growth Index Fund 42.1 4 25 5.3 +0.0
SCHG Schwab U.S. Large-Cap Growth ETF 42.1 4 25 5.4 +0.1
SFY SoFi Select 500 ETF 41.9 0 29 6.4 +1.2
ESGV Vanguard ESG U.S. Stock ETF 41.7 12 17 6.7 +1.4
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 41.6 9 20 7.0 +1.7
VONE Vanguard Russell 1000 ETF 41.5 8 21 6.7 +1.5
IQSU IQ Candriam ESG US Equity ETF 41.4 9 20 6.4 +1.2
IWB iShares Russell 1000 ETF 41.3 15 14 6.7 +1.4
SPTM SPDR Portfolio Total Stock Market ETF 41.3 3 26 7.0 +1.7
CATH Global X S&P 500 Catholic Values Custom ETF 41.1 29 0 6.7 +1.5
SCHK Schwab 1000 Index ETF 41.1 5 24 6.7 +1.5
MGK Vanguard Mega Cap Growth ETF 41.1 7 22 5.4 +0.1
NACP Impact Shares NAACP Minority Empowerment ETF 40.8 75 -46 6.0 +0.8
IYY iShares Dow Jones U.S. ETF 40.8 20 9 6.6 +1.4
ESGU iShares MSCI USA ESG Optimized ETF 40.6 15 14 6.4 +1.2
IWF iShares Russell 1000 Growth ETF 40.6 19 10 5.4 +0.2
VONG Vanguard Russell 1000 Growth Index Fund 40.5 8 21 5.5 +0.3
RECS Columbia Research Enhanced Core ETF 40.4 15 14 7.2 +2.0
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 40.1 75 -46 4.7 -0.5
XOUT GraniteShares XOUT U.S. Large Cap ETF 39.6 60 -31 5.7 +0.4
AFLG First Trust Active Factor Large Cap ETF 39.6 55 -26 7.8 +2.5
VTHR Vanguard Russell 3000 Index Fund 39.2 10 19 6.6 +1.4
DYNF BlackRock U.S. Equity Factor Rotation ETF 39.2 30 -1 7.6 +2.3
XLG Invesco S&P 500 Top 50 ETF 39.2 20 9 5.7 +0.5
ITOT iShares Core S&P Total U.S. Stock Market ETF 39.1 3 26 6.7 +1.4
SCHB Schwab U.S. Broad Market ETF 39.1 3 26 6.7 +1.5
IWY iShares Russell Top 200 Growth ETF 39.0 20 9 5.3 +0.1
IWV iShares Russell 3000 ETF 39.0 20 9 6.5 +1.3
VTI Vanguard Total Stock Market Index Fund 38.9 3 26 6.7 +1.4
EPS WisdomTree U.S. Earnings 500 Fund 38.5 8 21 8.1 +2.9
FQAL Fidelity Quality Factor ETF 38.0 29 0 6.8 +1.5
ESG FlexShares STOXX US ESG Impact Index Fund 37.7 32 -3 6.5 +1.3
FCPI Fidelity Stocks for Inflation ETF 37.4 29 0 8.8 +3.5
AUSF Global X Adaptive U.S. Factor ETF 37.2 27 2 9.7 +4.5
JKE iShares Morningstar Large-Cap Growth ETF 37.2 25 4 4.4 -0.8
SPXT ProShares S&P 500 Ex-Technology ETF 36.9 27 2 7.1 +1.8
PWB Invesco Dynamic Large Cap Growth ETF 36.5 55 -26 4.3 -1.0
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 35.9 12 17 6.1 +0.8
QUS SPDR MSCI USA StrategicFactors ETF 35.7 15 14 7.0 +1.7
TTAC TrimTabs Float Shrink ETF 35.6 59 -30 5.0 -0.3
EXT WisdomTree U.S. Total Earnings Fund 35.5 28 1 7.3 +2.1
FTC First Trust Large Cap Growth AlphaDEX Fund 35.3 61 -32 4.1 -1.2
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 34.9 49 -20 5.2 0.0
JHML John Hancock Multifactor Large Cap ETF 34.5 34 -5 7.1 +1.8
DLN WisdomTree U.S. LargeCap Dividend Fund 34.3 28 1 7.7 +2.5
RFDA RiverFront Dynamic US Dividend Advantage ETF 34.2 52 -23 7.5 +2.2
IUS Invesco Strategic US ETF 33.8 19 10 7.6 +2.4
WOMN Impact Shares YWCA Women's Empowerment ETF 33.7 75 -46 6.0 +0.7
DSI iShares MSCI KLD 400 Social ETF 32.9 25 4 6.5 +1.2
DIVB iShares U.S. Dividend & Buyback ETF 32.8 25 4 8.4 +3.2
AVUS Avantis U.S. Equity ETF 32.7 15 14 7.6 +2.4
FVAL Fidelity Value Factor ETF 32.7 29 0 10.5 +5.3
RPG Invesco S&P 500 Pure Growth ETF 32.4 35 -6 6.1 +0.9
JQUA JPMorgan U.S. Quality Factor ETF 32.3 12 17 6.4 +1.1
QLC FlexShares US Quality Large Cap Index Fund 32.3 32 -3 7.1 +1.9
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 32.3 29 0 7.8 +2.6
RFFC RiverFront Dynamic US Flex-Cap ETF 32.2 52 -23 7.2 +1.9
TMFC Motley Fool 100 Index ETF 32.1 50 -21 4.8 -0.5
SPMO Invesco S&P 500 Momentum ETF 32.1 13 16 5.0 -0.2
VEGN US Vegan Climate ETF 32.1 60 -31 6.7 +1.4
SUSL iShares ESG MSCI USA Leaders ETF 31.8 10 19 6.7 +1.4
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 31.8 10 19 6.7 +1.4
DGRO iShares Core Dividend Growth ETF 31.7 8 21 8.1 +2.8
EQWL Invesco Russell Top 200 Equal Weight ETF 31.4 25 4 7.3 +2.1
ADME Aptus Drawdown Managed Equity ETF 31.3 81 -52 5.3 +0.0
DTD WisdomTree U.S.Total Dividend Fund 31.1 28 1 8.2 +3.0
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 30.9 19 10 7.3 +2.0
FNDX Schwab Fundamental U.S. Large Co. Index ETF 30.8 25 4 8.0 +2.8
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 30.8 25 4 8.2 +2.9
TOK iShares MSCI Kokusai ETF 30.6 25 4 7.1 +1.9
LRGE ClearBridge Large Cap Growth ESG ETF 30.3 60 -31 5.1 -0.1

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 17.5 %
Divided by: Fwd. P/BV 3.2 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 5.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.41 CATEGORY
AVERAGE
1.52
 
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.