Fidelity Momentum Factor ETF
ALTAR
Score™
3.9% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
29.0x P/Sales
ratio
3.4x
P/BV
ratio
4.7x Div.
yield
1.3%


  • 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) $83
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 127
Wgt avg mkt cap (mns) $379,415
Large cap (>$10bn) 93.5%
Mid cap ($2-10bn) 6.5%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MICROSOFT CORP 5.9 %
APPLE INC 5.9 %
AMAZON.COM INC 4.4 %
ALPHABET INC. CLASS A 3.5 %
UNITEDHEALTH GROUP INC 1.8 %
VISA INC-CLASS A SHARES 1.7 %
BERKSHIRE HATHAWAY INC-CL B 1.6 %
NVIDIA CORP 1.5 %
MASTERCARD INC-CLASS A 1.5 %
INTEL CORP 1.4 %
Total 29.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.4 %
BRITAIN 1.2 %
IRELAND 0.6 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
0.6% 4.8% -- -- 11.6%

Market Correlations
versus... Beta R-squared
S&P500 0.98 92%
MSCI EAFE 0.94 74%
MSCI Emg. Mkts. 0.67 59%

Technical Indicators
Recent close $37.00
30d moving avg. $36.14
Annualized volatility 17.3%
Short interest (ETF) 0.5%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 27
Turnover 1.2%
Bid/Ask (% of price) 0.17%
ADV underlying (mns) $134,766

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™: 3.9%


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
(%)
MMTM SPDR S&P 1500 Momentum Tilt ETF 51.4 12 17 5.0 +1.1
MTUM iShares Edge MSCI USA Momentum Factor ETF 50.0 15 14 4.2 +0.3
BKLC BNY Mellon US Large Cap Core Equity ETF 50.0 0 29 5.3 +1.4
IWL iShares Russell Top 200 ETF 49.7 15 14 5.1 +1.2
MGC Vanguard Mega Cap Index Fund 49.3 7 22 5.3 +1.4
SNPE Xtrackers S&P 500 ESG ETF 48.2 11 18 5.2 +1.3
SPXV ProShares S&P 500 Ex-Health Care ETF 47.8 27 2 5.1 +1.2
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 47.5 20 9 5.0 +1.1
PBP Invesco S&P 500 BuyWrite ETF 47.4 49 -20 5.0 +1.2
OEF iShares S&P 100 ETF 47.2 20 9 4.9 +1.0
SPY SPDR S&P 500 ETF Trust 47.0 9 20 5.4 +1.5
IVV iShares Core S&P 500 ETF 46.9 4 25 5.5 +1.6
SPLG SPDR Portfolio Large Cap ETF 46.8 3 26 5.5 +1.6
VOO VANGUARD S&P 500 ETF 46.8 3 26 5.5 +1.6
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 46.8 20 9 5.4 +1.5
SPXE ProShares S&P 500 Ex-Energy ETF 46.6 27 2 5.4 +1.5
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 46.5 7 22 5.3 +1.4
VV Vanguard Large-Cap Index Fund 46.4 4 25 5.3 +1.4
HSPX Global X S&P 500 Covered Call ETF 46.3 65 -36 4.9 +1.0
BBUS JP Morgan Betabuilders U.S. Equity ETF 46.1 2 27 5.4 +1.5
VOOG Vanguard S&P 500 Growth ETF 46.0 10 19 4.3 +0.4
SPYG SPDR Portfolio S&P 500 Growth ETF 45.9 4 25 4.4 +0.5
IVW iShares S&P 500 Growth ETF 45.9 18 11 4.2 +0.3
SCHG Schwab U.S. Large-Cap Growth ETF 45.9 4 25 4.2 +0.3
PBUS Invesco PureBeta MSCI USA ETF 45.6 4 25 5.3 +1.4
ESGU iShares MSCI USA ESG Optimized ETF 45.6 15 14 5.2 +1.3
XLG Invesco S&P 500 Top 50 ETF 45.6 20 9 4.6 +0.7
SCHX Schwab U.S. Large-Cap ETF 44.9 3 26 5.4 +1.5
IUSG iShares Core S&P US Growth ETF 44.9 4 25 4.4 +0.5
IQSU IQ Candriam ESG US Equity ETF 44.7 9 20 5.2 +1.3
SPXN ProShares S&P 500 Ex-Financials ETF 44.6 27 2 5.0 +1.1
AFLG First Trust Active Factor Large Cap ETF 44.1 55 -26 5.6 +1.7
CATH Global X S&P 500 Catholic Values Custom ETF 43.9 29 0 5.3 +1.4
IWB iShares Russell 1000 ETF 43.8 15 14 5.3 +1.4
SCHK Schwab 1000 Index ETF 43.8 5 24 5.3 +1.5
VONE Vanguard Russell 1000 ETF 43.7 8 21 5.3 +1.5
SPTM SPDR Portfolio Total Stock Market ETF 43.6 3 26 5.6 +1.7
IWF iShares Russell 1000 Growth ETF 43.5 19 10 4.2 +0.3
FDLO Fidelity Low Volatility Factor ETF 43.4 29 0 5.2 +1.3
VONG Vanguard Russell 1000 Growth Index Fund 43.3 8 21 4.3 +0.4
XOUT GraniteShares XOUT U.S. Large Cap ETF 43.2 60 -31 4.5 +0.6
IYY iShares Dow Jones U.S. ETF 43.2 20 9 5.2 +1.4
IWY iShares Russell Top 200 Growth ETF 43.0 20 9 4.2 +0.3
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 42.9 9 20 5.6 +1.7
ESGV Vanguard ESG U.S. Stock ETF 42.8 12 17 5.3 +1.4
FQAL Fidelity Quality Factor ETF 42.6 29 0 5.5 +1.7
VUG Vanguard Growth Index Fund 42.2 4 25 4.1 +0.2
SFY SoFi Select 500 ETF 41.6 0 29 5.3 +1.4
SCHB Schwab U.S. Broad Market ETF 41.5 3 26 5.3 +1.4
IWV iShares Russell 3000 ETF 41.4 20 9 5.1 +1.2
MGK Vanguard Mega Cap Growth ETF 41.4 7 22 4.2 +0.3
VTHR Vanguard Russell 3000 Index Fund 41.3 10 19 5.2 +1.3
JMOM JPMorgan U.S. Momentum Factor ETF 41.3 12 17 3.9 0.0
ITOT iShares Core S&P Total U.S. Stock Market ETF 41.3 3 26 5.3 +1.4
VTI Vanguard Total Stock Market Index Fund 41.0 3 26 5.2 +1.4
ADME Aptus Drawdown Managed Equity ETF 40.9 81 -52 3.6 -0.3
TMFC Motley Fool 100 Index ETF 40.9 50 -21 3.8 -0.1
SPMO Invesco S&P 500 Momentum ETF 40.8 13 16 4.4 +0.5
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 40.3 15 14 6.3 +2.4
ESG FlexShares STOXX US ESG Impact Index Fund 40.3 32 -3 5.1 +1.3
EPS WisdomTree U.S. Earnings 500 Fund 40.2 8 21 6.6 +2.7
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 39.9 12 17 4.9 +1.0
WOMN Impact Shares YWCA Women's Empowerment ETF 39.6 75 -46 4.6 +0.7
HIPR Direxion High Growth ETF 39.3 40 -11 2.9 -1.0
ACIO Aptus Collared Income Opportunity ETF 39.0 79 -50 4.4 +0.5
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 38.7 10 19 5.4 +1.5
FTC First Trust Large Cap Growth AlphaDEX Fund 38.6 61 -32 2.9 -1.0
SUSL iShares ESG MSCI USA Leaders ETF 38.6 10 19 5.4 +1.5
QUS SPDR MSCI USA StrategicFactors ETF 38.2 15 14 5.9 +2.0
NACP Impact Shares NAACP Minority Empowerment ETF 38.2 75 -46 4.6 +0.7
ECOZ TrueMark ESG Active Opportunities ETF 37.6 58 -29 4.4 +0.5
SPXT ProShares S&P 500 Ex-Technology ETF 37.5 27 2 5.7 +1.8
RECS Columbia Research Enhanced Core ETF 37.3 15 14 5.7 +1.8
QYLD Global X NASDAQ 100 Covered Call ETF 36.8 60 -31 3.5 -0.4
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 36.8 75 -46 3.9 -0.0
NUSI Nationwide Risk-Managed Income ETF 36.7 68 -39 3.5 -0.4
DLN WisdomTree U.S. LargeCap Dividend Fund 36.6 28 1 6.5 +2.6
QLC FlexShares US Quality Large Cap Index Fund 36.6 32 -3 5.4 +1.6
QQQ Invesco QQQ Trust 36.6 20 9 3.9 +0.0
DSI iShares MSCI KLD 400 Social ETF 36.3 25 4 5.2 +1.3
JHML John Hancock Multifactor Large Cap ETF 35.7 29 0 5.7 +1.8
EXT WisdomTree U.S. Total Earnings Fund 35.6 28 1 5.3 +1.4
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 35.1 21 8 3.0 -0.9
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 35.0 49 -20 4.2 +0.3
JQUA JPMorgan U.S. Quality Factor ETF 35.0 12 17 5.3 +1.4
AIEQ AI Powered Equity ETF 34.6 87 -58 3.7 -0.2
KRMA Global X Conscious Companies ETF 34.4 43 -14 5.3 +1.4
VFMO Vanguard U.S. Momentum Factor ETF 34.2 13 16 1.2 -2.7
DTD WisdomTree U.S.Total Dividend Fund 33.8 28 1 6.7 +2.8
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 33.8 19 10 5.7 +1.8
AVUS Avantis U.S. Equity ETF 33.4 15 14 5.8 +1.9
IETC iShares Evolved U.S. Technology ETF 33.3 18 11 3.9 -0.0
VEGN US Vegan Climate ETF 33.3 60 -31 5.3 +1.4
FVAL Fidelity Value Factor ETF 33.2 29 0 8.1 +4.2
SUSA iShares MSCI USA ESG Select ETF 32.9 25 4 4.9 +1.0
DGRW WisdomTree U.S. Quality Dividend Growth Fund 32.7 28 1 6.6 +2.7
DIVB iShares U.S. Dividend & Buyback ETF 32.6 25 4 6.7 +2.8
TOK iShares MSCI Kokusai ETF 32.2 25 4 5.7 +1.8
IGM iShares Expanded Tech Sector ETF 32.1 46 -17 3.8 -0.1
FNDX Schwab Fundamental U.S. Large Co. Index ETF 32.0 25 4 6.6 +2.7

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 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 18.4 %
Divided by: Fwd. P/BV 4.4 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 3.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.43 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.