Fidelity Momentum Factor ETF
ALTAR
Score™
2.4% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
42.8x P/Sales
ratio
5.1x
P/BV
ratio
7.5x Div.
yield
0.7%


  • 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) $121
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) $490,130
Large cap (>$10bn) 92.6%
Mid cap ($2-10bn) 6.9%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 6.8 %
MICROSOFT CORP 5.3 %
AMAZON.COM INC 4.2 %
ALPHABET INC. CLASS A 3.5 %
TESLA MOTORS INC 2.5 %
FACEBOOK 2.2 %
PLUG POWER INC 1.8 %
BERKSHIRE HATHAWAY INC-CL B 1.8 %
PAYPAL HOLDINGS INC 1.6 %
UNITEDHEALTH GROUP INC 1.6 %
Total 31.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.0 %
BRITAIN 1.0 %
IRELAND 0.7 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
21.7% 21.7% -- -- 15.2%

Market Correlations
versus... Beta R-squared
S&P500 0.98 94%
MSCI EAFE 0.87 75%
MSCI Emg. Mkts. 0.70 61%

Technical Indicators
Recent close $46.51
30d moving avg. $44.62
Annualized volatility 18.9%
Short interest (ETF) 1.3%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 22
Turnover 0.9%
Bid/Ask (% of price) 0.17%
ADV underlying (mns) $143,747

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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™: 2.4%


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 MSCI USA Momentum Factor ETF 51.5 15 14 2.2 -0.2
ESGV Vanguard ESG U.S. Stock ETF 50.8 12 17 4.5 +2.0
VOOG Vanguard S&P 500 Growth ETF 48.6 10 19 3.9 +1.4
BKLC BNY Mellon US Large Cap Core Equity ETF 47.8 0 29 4.5 +2.0
SPYG SPDR Portfolio S&P 500 Growth ETF 47.4 4 25 3.7 +1.2
IVW iShares S&P 500 Growth ETF 47.4 18 11 3.5 +1.1
IWL iShares Russell Top 200 ETF 47.2 15 14 4.4 +2.0
MGC Vanguard Mega Cap Index Fund 46.8 7 22 4.6 +2.1
IUSG iShares Core S&P US Growth ETF 46.7 4 25 3.7 +1.2
SCHG Schwab U.S. Large-Cap Growth ETF 46.4 4 25 3.2 +0.7
MMTM SPDR S&P 1500 Momentum Tilt ETF 45.8 12 17 4.0 +1.6
VUG Vanguard Growth Index Fund 45.6 4 25 3.5 +1.1
PBP Invesco S&P 500 BuyWrite ETF 44.8 49 -20 4.3 +1.9
IWF iShares Russell 1000 Growth ETF 44.6 19 10 3.4 +1.0
OEF iShares S&P 100 ETF 44.5 20 9 4.2 +1.8
SPXV ProShares S&P 500 Ex-Health Care ETF 44.3 27 2 4.3 +1.8
XOUT GraniteShares XOUT U.S. Large Cap ETF 44.3 60 -31 3.6 +1.2
JCTR JPMorgan Carbon Transition U.S. Equity ETF 44.2 15 14 4.7 +2.2
XYLG Global X S&P 500 Covered Call & Growth ETF 44.2 60 -31 4.4 +2.0
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 44.0 7 22 4.5 +2.1
SPY SPDR S&P 500 ETF Trust 43.8 9 20 4.7 +2.2
IVV iShares Core S&P 500 ETF 43.8 3 26 4.7 +2.3
SPLG SPDR Portfolio Large Cap ETF 43.8 3 26 4.7 +2.3
VONG Vanguard Russell 1000 Growth Index Fund 43.8 8 21 3.5 +1.1
SPXE ProShares S&P 500 Ex-Energy ETF 43.7 27 2 4.6 +2.2
HIPR Direxion High Growth ETF 43.7 40 -11 3.8 +1.4
MGK Vanguard Mega Cap Growth ETF 43.7 7 22 3.7 +1.2
VV Vanguard Large-Cap Index Fund 43.5 4 25 4.6 +2.1
BBUS JP Morgan Betabuilders U.S. Equity ETF 43.3 2 27 4.6 +2.2
JMOM JPMorgan U.S. Momentum Factor ETF 43.2 12 17 3.0 +0.5
VOO VANGUARD S&P 500 ETF 43.0 3 26 4.8 +2.4
PBUS Invesco PureBeta MSCI USA ETF 42.9 4 25 4.6 +2.1
IWY iShares Russell Top 200 Growth ETF 42.8 20 9 3.6 +1.1
TMFC Motley Fool 100 Index ETF 42.6 50 -21 3.0 +0.6
ESGU iShares MSCI USA ESG Optimized ETF 42.6 15 14 4.4 +2.0
SPMO Invesco S&P 500 Momentum ETF 42.5 13 16 3.8 +1.3
SPXN ProShares S&P 500 Ex-Financials ETF 42.2 27 2 4.4 +1.9
SCHX Schwab U.S. Large-Cap ETF 42.2 3 26 4.6 +2.1
XVV iShares ESG Screened S&P 500 ETF 42.2 8 21 4.9 +2.4
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 42.2 20 9 4.8 +2.3
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 41.9 20 9 4.6 +2.1
SFY SoFi Select 500 ETF 41.0 0 29 4.6 +2.1
SNPE Xtrackers S&P 500 ESG ETF 40.9 10 19 4.6 +2.1
EFIV SPDR S&P 500 ESG ETF 40.9 10 19 4.6 +2.1
IWB iShares Russell 1000 ETF 40.9 15 14 4.5 +2.0
SCHK Schwab 1000 Index ETF 40.8 5 24 4.6 +2.1
IYY iShares Dow Jones U.S. ETF 40.6 20 9 4.4 +2.0
PWB Invesco Dynamic Large Cap Growth ETF 40.4 56 -27 2.1 -0.3
SPTM SPDR Portfolio Total Stock Market ETF 40.3 3 26 4.8 +2.4
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 39.9 9 20 4.8 +2.4
VTHR Vanguard Russell 3000 Index Fund 39.8 10 19 4.4 +1.9
IQSU IQ Candriam ESG US Equity ETF 39.3 9 20 4.5 +2.1
XLG Invesco S&P 500 Top 50 ETF 39.3 20 9 4.1 +1.6
CATH Global X S&P 500 Catholic Values Custom ETF 39.2 29 0 4.6 +2.1
ADME Aptus Drawdown Managed Equity ETF 38.9 79 -50 3.1 +0.7
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 38.7 49 -20 3.4 +1.0
SCHB Schwab U.S. Broad Market ETF 38.4 3 26 4.5 +2.0
IWV iShares Russell 3000 ETF 38.3 20 9 4.3 +1.8
ITOT iShares Core S&P Total U.S. Stock Market ETF 38.1 3 26 4.4 +2.0
AFLG First Trust Active Factor Large Cap ETF 37.4 55 -26 4.7 +2.2
VONE Vanguard Russell 1000 ETF 37.4 8 21 4.6 +2.1
RESP WisdomTree US ESG Fund of Benef Interest 37.1 28 1 5.1 +2.6
VTI Vanguard Total Stock Market Index Fund 37.0 3 26 4.4 +2.0
EPS WisdomTree U.S. Earnings 500 Fund 37.0 8 21 5.9 +3.5
FQAL Fidelity Quality Factor ETF 36.8 29 0 5.0 +2.5
ESG FlexShares STOXX US ESG Impact Index Fund 36.8 32 -3 4.5 +2.0
ACIO Aptus Collared Income Opportunity ETF 36.8 79 -50 3.8 +1.4
QYLD Global X NASDAQ 100 Covered Call ETF 36.7 60 -31 3.2 +0.7
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 36.6 15 14 5.8 +3.4
NUSI Nationwide Risk-Managed Income ETF 36.5 68 -39 3.1 +0.7
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 36.5 60 -31 3.1 +0.7
QQQM Invesco NASDAQ 100 ETF 36.3 15 14 3.5 +1.1
QQQ Invesco QQQ Trust 36.3 20 9 3.5 +1.0
RECS Columbia Research Enhanced Core ETF 36.2 15 14 5.1 +2.6
SYG SPDR MFS Systematic Growth Equity ETF 36.2 60 -31 3.4 +1.0
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 35.9 21 8 2.9 +0.4
SPXT ProShares S&P 500 Ex-Technology ETF 35.8 27 2 4.9 +2.4
IETC iShares Evolved U.S. Technology ETF 35.2 18 11 3.4 +1.0
TECB iShares US Tech Breakthrough Multisector ETF 35.0 40 -11 3.5 +1.0
ECOZ TrueMark ESG Active Opportunities ETF 34.8 58 -29 3.0 +0.5
KRMA Global X Conscious Companies ETF 34.8 43 -14 4.8 +2.4
IGM iShares Expanded Tech Sector ETF 34.3 46 -17 3.3 +0.8
SFYF SoFi 50 ETF 33.8 29 0 0.8 -1.6
DFAU Dimensional US Core Equity Market ETF 33.8 12 17 4.7 +2.2
FVAL Fidelity Value Factor ETF 33.8 29 0 6.8 +4.4
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 33.8 12 17 4.9 +2.5
NACP Impact Shares NAACP Minority Empowerment ETF 33.5 49 -20 4.7 +2.2
JKE iShares Morningstar Large-Cap Growth ETF 33.4 25 4 2.2 -0.3
RFFC RiverFront Dynamic US Flex-Cap ETF 33.4 52 -23 4.4 +1.9
SUSA iShares MSCI USA ESG Select ETF 33.1 25 4 4.2 +1.8
STLG iShares Factors US Growth Style ETF 33.1 25 4 3.9 +1.5
TTAC TrimTabs US Free Cash Flow Quality ETF 33.0 59 -30 3.4 +1.0
QLC FlexShares US Quality Large Cap Index Fund 32.7 32 -3 4.4 +2.0
WOMN Impact Shares YWCA Women's Empowerment ETF 32.3 75 -46 3.5 +1.0
VEGN US Vegan Climate ETF 32.2 60 -31 3.9 +1.5
JHML John Hancock Multifactor Large Cap ETF 31.6 29 0 4.9 +2.4
MMLG First Trust Multi-Manager Large Growth ETF 31.3 85 -56 1.8 -0.7
DSI iShares MSCI KLD 400 Social ETF 31.3 25 4 4.6 +2.1
FTC First Trust Large Cap Growth AlphaDEX Fund 31.2 61 -32 2.2 -0.2

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:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 17.5 %
Divided by: Fwd. P/BV 6.4 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 2.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.41 CATEGORY
AVERAGE
1.49
 
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.