Fidelity Dividend ETF for Rising Rates
ALTAR
Score™
9.8% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
11.5x P/Sales
ratio
1.2x
P/BV
ratio
1.8x Div.
yield
4.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Fidelity Dividend ETF for Rising Rates tracks an index of large- and midcap companies in developed nations that exhibit strong dividend characteristics and have a positive correlation to increasing 10-year U.S. Treasury yields.

FUND BASICS
Category US Equities
Fund Sponsor Fidelity
Website screener.fidelity.com
Inception date Sep 12, 2016
Assets (mns) $246
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 128
Wgt avg mkt cap (mns) $231,069
Large cap (>$10bn) 89.3%
Mid cap ($2-10bn) 8.8%
Small cap (<$2bn) 1.9%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MICROSOFT CORP 6.2 %
APPLE INC 5.4 %
JOHNSON & JOHNSON 3.1 %
GILEAD SCIENCES INC 2.4 %
PFIZER INC 2.3 %
UNITEDHEALTH GROUP INC 2.3 %
PROCTER & GAMBLE CO/THE 2.0 %
AMGEN INC 2.0 %
INTEL CORP 2.0 %
ABBVIE INC 1.9 %
Total 29.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 91.0 %
BRITAIN 4.1 %
JAPAN 1.6 %
IRELAND 1.4 %
FRANCE 0.6 %
BERMUDA 0.5 %
HONG KONG 0.4 %
AUSTRALIA 0.2 %



HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-24.0% -13.3% -- -- 4.2%

Market Correlations
versus... Beta R-squared
S&P500 1.02 96%
MSCI EAFE 0.96 82%
MSCI Emg. Mkts. 0.72 68%

Technical Indicators
Recent close $25.33
30d moving avg. $28.76
Annualized volatility 15.9%
Short interest (ETF) 0.0%
Relative strength (RSI) 36

Liquidity measures
Avg. volume (thou.) 170
Turnover 1.8%
Bid/Ask (% of price) 0.67%
ADV underlying (mns) $90,099

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: FDRR Expense: 29 bp ALTAR Score™: 9.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FDRR
Ticker Fund
Name
Overlap1
vs FDRR
(%)
Expense
ratio
(bp)
Savings
vs FDRR
(bp)
ALTAR
Score™
(%)
ALTAR
vs FDRR
(%)
FDVV Fidelity Core Dividend ETF 58.7 29 0 9.9 +0.1
DLN WisdomTree U.S. LargeCap Dividend Fund 57.8 28 1 8.1 -1.7
DTD WisdomTree U.S.Total Dividend Fund 53.5 28 1 8.6 -1.2
DIVB iShares U.S. Dividend & Buyback ETF 52.9 25 4 8.9 -0.9
OEF iShares S&P 100 ETF 52.3 20 9 6.4 -3.4
FVAL Fidelity Value Factor ETF 50.5 29 0 11.1 +1.3
IWL iShares Russell Top 200 ETF 49.8 15 14 6.7 -3.1
USDY Pacific Global US Equity Income ETF 49.7 29 0 10.7 +0.9
EPS WisdomTree U.S. Earnings 500 Fund 49.5 8 21 8.6 -1.2
MGC Vanguard Mega Cap Index Fund 48.5 7 22 6.9 -2.9
DGRO iShares Core Dividend Growth ETF 48.5 8 21 8.5 -1.3
FNDX Schwab Fundamental U.S. Large Co. Index ETF 47.6 25 4 8.5 -1.3
RAFE PIMCO RAFI ESG U.S. ETF 47.6 29 0 10.2 +0.4
OUSA O'Shares FTSE US Quality Dividend ETF 47.5 48 -19 7.1 -2.8
SCHV Schwab U.S. Large-Cap Value ETF 47.0 4 25 9.1 -0.7
XLG Invesco S&P 500 Top 50 ETF 46.8 20 9 6.0 -3.8
VYM Vanguard High Dividend Yield Index ETF 46.7 6 23 9.0 -0.8
QDF FlexShares Quality Dividend Index Fund 46.4 37 -8 9.0 -0.8
MGV Vanguard Mega Cap Value ETF 46.2 7 22 9.0 -0.9
SNPE Xtrackers S&P 500 ESG ETF 46.0 11 18 7.0 -2.9
QDYN FlexShares Quality Dividend Dynamic Index Fund 45.8 37 -8 9.3 -0.6
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 45.4 12 17 6.4 -3.5
FQAL Fidelity Quality Factor ETF 45.4 29 0 7.1 -2.7
NACP Impact Shares NAACP Minority Empowerment ETF 45.4 75 -46 6.3 -3.5
PBP Invesco S&P 500 BuyWrite ETF 45.3 49 -20 6.8 -3.1
HSPX Global X S&P 500 Covered Call ETF 45.2 65 -36 6.6 -3.2
VTV Vanguard Value Index Fund 45.1 4 25 9.3 -0.5
FNDB Schwab Fundamental U.S. Broad Market Index ETF 45.0 25 4 8.6 -1.3
QDEF FlexShares Quality Dividend Defensive Index Fund 45.0 37 -8 8.0 -1.8
EQWL Invesco Russell Top 200 Equal Weight ETF 45.0 25 4 7.7 -2.1
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 44.3 20 9 6.7 -3.1
SPXV ProShares S&P 500 Ex-Health Care ETF 44.0 27 2 6.9 -2.9
SPXN ProShares S&P 500 Ex-Financials ETF 43.9 27 2 6.7 -3.1
SPYV SPDR Portfolio S&P 500 Value ETF 43.7 4 25 9.4 -0.4
IVE iShares S&P 500 Value ETF 43.7 18 11 9.2 -0.6
SPY SPDR S&P 500 ETF Trust 43.6 9 20 7.2 -2.7
SPLG SPDR Portfolio Large Cap ETF 43.5 3 26 7.2 -2.6
IVV iShares Core S&P 500 ETF 43.4 4 25 7.2 -2.6
VOOV Vanguard S&P 500 Value ETF 43.4 15 14 9.3 -0.5
RECS Columbia Research Enhanced Core ETF 43.3 15 14 7.6 -2.3
VOO VANGUARD S&P 500 ETF 43.3 3 26 7.2 -2.6
JVAL JPMorgan U.S. Value Factor ETF 43.2 12 17 12.2 +2.4
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 43.2 20 9 7.2 -2.6
SPXE ProShares S&P 500 Ex-Energy ETF 42.9 27 2 7.1 -2.7
PRF Invesco FTSE RAFI US 1000 ETF 42.8 39 -10 9.4 -0.5
IUS Invesco Strategic US ETF 42.7 19 10 8.1 -1.7
VV Vanguard Large-Cap Index Fund 42.3 4 25 7.1 -2.7
IUSV iShares Core S&P U.S. Value ETF 42.2 4 25 9.5 -0.3
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 41.8 49 -20 5.5 -4.3
IQSU IQ Candriam ESG US Equity ETF 41.7 9 20 6.8 -3.0
BBUS JP Morgan Betabuilders U.S. Equity ETF 41.6 2 27 7.2 -2.7
PBUS Invesco PureBeta MSCI USA ETF 41.5 4 25 7.2 -2.7
WOMN Impact Shares YWCA Women's Empowerment ETF 41.4 75 -46 6.4 -3.5
IWX iShares Russell Top 200 Value ETF 41.2 20 9 8.9 -1.0
SCHX Schwab U.S. Large-Cap ETF 40.8 3 26 7.1 -2.7
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 40.6 15 14 7.0 -2.8
ESG FlexShares STOXX US ESG Impact Index Fund 40.5 32 -3 6.9 -2.9
CATH Global X S&P 500 Catholic Values Custom ETF 40.5 29 0 7.1 -2.7
JKF iShares Morningstar Large Cap Value ETF 40.4 25 4 9.7 -0.2
SPTM SPDR Portfolio Total Stock Market ETF 40.3 3 26 7.4 -2.4
VONE Vanguard Russell 1000 ETF 40.2 8 21 7.1 -2.7
VLU SPDR S&P 1500 Value Tilt ETF 40.1 12 17 9.8 -0.0
ESGU iShares MSCI USA ESG Optimized ETF 40.1 15 14 6.8 -3.0
QLC FlexShares US Quality Large Cap Index Fund 40.1 32 -3 7.5 -2.3
IWB iShares Russell 1000 ETF 39.7 15 14 7.1 -2.7
SCHK Schwab 1000 Index ETF 39.6 5 24 7.2 -2.7
FDLO Fidelity Low Volatility Factor ETF 39.5 29 0 6.6 -3.2
IYY iShares Dow Jones U.S. ETF 39.2 20 9 7.1 -2.8
QUS SPDR MSCI USA StrategicFactors ETF 38.8 15 14 7.4 -2.4
VONV Vanguard Russell 1000 Value Index Fund 38.3 8 21 9.4 -0.4
IWD iShares Russell 1000 Value ETF 38.3 19 10 9.3 -0.5
SPXT ProShares S&P 500 Ex-Technology ETF 38.1 27 2 7.4 -2.4
VTHR Vanguard Russell 3000 Index Fund 38.0 10 19 7.0 -2.8
SFY SoFi Select 500 ETF 37.9 0 29 6.7 -3.1
SCHB Schwab U.S. Broad Market ETF 37.8 3 26 7.2 -2.7
DGRW WisdomTree U.S. Quality Dividend Growth Fund 37.7 28 1 8.3 -1.5
ITOT iShares Core S&P Total U.S. Stock Market ETF 37.7 3 26 7.1 -2.7
MMTM SPDR S&P 1500 Momentum Tilt ETF 37.7 12 17 6.9 -3.0
IWV iShares Russell 3000 ETF 37.5 20 9 6.9 -2.9
DSTL Distillate US Fundamental Stability & Value ETF 37.5 39 -10 7.8 -2.0
XOUT GraniteShares XOUT U.S. Large Cap ETF 37.5 60 -31 6.0 -3.8
VTI Vanguard Total Stock Market Index Fund 37.4 3 26 7.1 -2.8
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 37.4 19 10 7.7 -2.2
ESGV Vanguard ESG U.S. Stock ETF 37.0 12 17 7.1 -2.7
DIA SPDR Dow Jones Industrial Average ETF Trust 36.9 16 13 7.5 -2.4
FLQL Franklin LibertyQ U.S. Equity ETF 36.8 15 14 8.2 -1.7
RWL Invesco S&P 500 Revenue ETF 36.7 39 -10 9.3 -0.5
EDOW First Trust Dow 30 Equal Weight ETF 36.5 50 -21 7.4 -2.4
IOO iShares Global 100 ETF 36.4 40 -11 6.2 -3.6
JQUA JPMorgan U.S. Quality Factor ETF 36.3 12 17 6.7 -3.1
RFDA RiverFront Dynamic US Dividend Advantage ETF 36.2 52 -23 8.0 -1.8
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 36.0 29 0 8.2 -1.6
AFLG First Trust Active Factor Large Cap ETF 35.8 55 -26 7.8 -2.0
SUSL iShares ESG MSCI USA Leaders ETF 35.6 10 19 7.1 -2.8
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 35.6 10 19 7.1 -2.8
RFFC RiverFront Dynamic US Flex-Cap ETF 35.2 52 -23 7.7 -2.1
YLDE ClearBridge Dividend Strategy ESG ETF 34.4 60 -31 6.2 -3.6
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 34.1 9 20 7.4 -2.4
IWY iShares Russell Top 200 Growth ETF 34.1 20 9 5.6 -4.2
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 34.0 25 4 8.7 -1.1

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 Dividend ETF for Rising Rates
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 17.2 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 9.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.51 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.