Fidelity Dividend ETF for Rising Rates
ALTAR
Score™
6.3% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
19.2x P/Sales
ratio
2.2x
P/BV
ratio
2.8x Div.
yield
2.9%


  • 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) $304
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 113
Wgt avg mkt cap (mns) $407,461
Large cap (>$10bn) 94.0%
Mid cap ($2-10bn) 5.9%
Small cap (<$2bn) 0.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 8.1 %
MICROSOFT CORP 6.7 %
UNITEDHEALTH GROUP INC 2.6 %
JOHNSON & JOHNSON 2.5 %
ABBVIE INC 2.1 %
PFIZER INC 2.0 %
QUALCOMM INC 2.0 %
JPMORGAN CHASE & CO 1.9 %
PROCTER & GAMBLE CO/THE 1.9 %
HOME DEPOT INC 1.7 %
Total 31.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 92.5 %
BRITAIN 3.4 %
IRELAND 1.5 %
JAPAN 1.2 %
BERMUDA 0.4 %
HONG KONG 0.3 %
AUSTRALIA 0.2 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
3.1% 6.8% -- -- 11.4%

Market Correlations
versus... Beta R-squared
S&P500 1.00 96%
MSCI EAFE 0.97 88%
MSCI Emg. Mkts. 0.77 71%

Technical Indicators
Recent close $35.94
30d moving avg. $33.93
Annualized volatility 19.1%
Short interest (ETF) 0.2%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 35
Turnover 0.4%
Bid/Ask (% of price) 0.16%
ADV underlying (mns) $70,653

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™: 6.3%


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
(%)
DLN WisdomTree U.S. LargeCap Dividend Fund 58.8 28 1 6.0 -0.3
FDVV Fidelity Core Dividend ETF 58.7 29 0 6.4 +0.1
DTD WisdomTree U.S.Total Dividend Fund 54.2 28 1 6.2 -0.1
QDEF FlexShares Quality Dividend Defensive Index Fund 50.7 37 -8 5.8 -0.5
OEF iShares S&P 100 ETF 50.7 20 9 4.5 -1.8
DIVB iShares U.S. Dividend & Buyback ETF 49.2 25 4 6.2 -0.1
QDYN FlexShares Quality Dividend Dynamic Index Fund 47.8 37 -8 5.7 -0.6
USDY Pacific Global US Equity Income ETF 47.7 29 0 6.8 +0.5
VYM Vanguard High Dividend Yield Index ETF 47.4 6 23 6.9 +0.6
OUSA O'Shares FTSE US Quality Dividend ETF 46.9 48 -19 5.5 -0.8
MGV Vanguard Mega Cap Value ETF 46.9 7 22 6.7 +0.4
EPS WisdomTree U.S. Earnings 500 Fund 46.8 8 21 6.0 -0.4
QDF FlexShares Quality Dividend Index Fund 46.6 37 -8 5.7 -0.6
DGRO iShares Core Dividend Growth ETF 46.3 8 21 6.2 -0.1
IWL iShares Russell Top 200 ETF 45.7 15 14 4.6 -1.7
BKLC BNY Mellon US Large Cap Core Equity ETF 45.7 0 29 4.8 -1.5
MGC Vanguard Mega Cap Index Fund 45.5 7 22 4.8 -1.5
XLG Invesco S&P 500 Top 50 ETF 44.5 20 9 4.3 -2.1
NACP Impact Shares NAACP Minority Empowerment ETF 44.3 75 -46 4.7 -1.6
EFIV SPDR S&P 500 ESG ETF 44.2 10 19 4.8 -1.6
SNPE Xtrackers S&P 500 ESG ETF 44.2 10 19 4.8 -1.6
RAFE PIMCO RAFI ESG U.S. ETF 43.7 29 0 7.1 +0.8
VTV Vanguard Value Index Fund 43.7 4 25 6.8 +0.4
VOOV Vanguard S&P 500 Value ETF 43.4 10 19 6.8 +0.5
FVAL Fidelity Value Factor ETF 42.7 29 0 7.2 +0.9
FQAL Fidelity Quality Factor ETF 42.3 29 0 5.2 -1.1
RECS Columbia Research Enhanced Core ETF 42.1 15 14 5.3 -1.0
EQWL Invesco Russell Top 200 Equal Weight ETF 41.9 25 4 5.8 -0.6
SCHV Schwab U.S. Large-Cap Value ETF 41.9 4 25 6.4 +0.0
FNDX Schwab Fundamental U.S. Large Co. Index ETF 41.7 25 4 6.1 -0.2
PBP Invesco S&P 500 BuyWrite ETF 41.5 49 -20 4.6 -1.7
IVE iShares S&P 500 Value ETF 41.4 18 11 6.7 +0.4
SPYV SPDR Portfolio S&P 500 Value ETF 41.4 4 25 6.8 +0.5
IWX iShares Russell Top 200 Value ETF 41.3 20 9 6.3 -0.0
SPXV ProShares S&P 500 Ex-Health Care ETF 41.1 27 2 4.6 -1.7
HSPX Global X S&P 500 Covered Call ETF 41.1 60 -31 4.5 -1.8
SPXN ProShares S&P 500 Ex-Financials ETF 40.8 27 2 4.7 -1.6
XYLG Global X S&P 500 Covered Call & Growth ETF 40.7 60 -31 4.7 -1.6
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 40.4 20 9 4.6 -1.7
SPY SPDR S&P 500 ETF Trust 40.2 9 20 5.0 -1.3
SPLG SPDR Portfolio Large Cap ETF 40.2 3 26 5.1 -1.3
IVV iShares Core S&P 500 ETF 40.2 3 26 5.0 -1.3
ESG FlexShares STOXX US ESG Impact Index Fund 40.0 32 -3 4.8 -1.6
SPXE ProShares S&P 500 Ex-Energy ETF 39.9 27 2 4.9 -1.4
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 39.8 20 9 5.0 -1.3
ESGV Vanguard ESG U.S. Stock ETF 39.8 12 17 4.7 -1.6
DGRW WisdomTree U.S. Quality Dividend Growth Fund 39.6 28 1 6.2 -0.1
IQSU IQ Candriam ESG US Equity ETF 39.6 9 20 4.8 -1.5
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 39.6 15 14 5.9 -0.4
VOO VANGUARD S&P 500 ETF 39.5 3 26 5.0 -1.3
IUSV iShares Core S&P U.S. Value ETF 39.5 4 25 6.9 +0.6
PRF Invesco FTSE RAFI US 1000 ETF 39.3 39 -10 6.2 -0.1
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 38.8 7 22 4.8 -1.6
FNDB Schwab Fundamental U.S. Broad Market Index ETF 38.7 25 4 6.1 -0.3
PFM Invesco Dividend Achievers ETF 38.5 53 -24 5.1 -1.2
XOUT GraniteShares XOUT U.S. Large Cap ETF 38.3 60 -31 3.8 -2.5
JKF iShares Morningstar Large Cap Value ETF 38.0 25 4 7.0 +0.7
QLC FlexShares US Quality Large Cap Index Fund 37.9 32 -3 5.0 -1.3
PBUS Invesco PureBeta MSCI USA ETF 37.7 4 25 4.9 -1.5
BBUS JP Morgan Betabuilders U.S. Equity ETF 37.6 2 27 4.9 -1.4
QUS SPDR MSCI USA StrategicFactors ETF 37.6 15 14 5.5 -0.8
IOO iShares Global 100 ETF 37.5 40 -11 4.5 -1.9
ESGU iShares MSCI USA ESG Optimized ETF 37.4 15 14 4.7 -1.6
VV Vanguard Large-Cap Index Fund 37.1 4 25 4.8 -1.5
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 36.9 49 -20 3.9 -2.4
SPTM SPDR Portfolio Total Stock Market ETF 36.9 3 26 5.1 -1.2
SCHX Schwab U.S. Large-Cap ETF 36.3 3 26 4.8 -1.5
CATH Global X S&P 500 Catholic Values Custom ETF 35.9 29 0 4.8 -1.5
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 35.8 12 17 5.1 -1.2
VONV Vanguard Russell 1000 Value Index Fund 35.7 8 21 6.4 +0.1
SCHK Schwab 1000 Index ETF 35.5 5 24 4.8 -1.5
IWB iShares Russell 1000 ETF 35.4 15 14 4.7 -1.6
IUS Invesco Strategic US ETF 35.3 19 10 5.8 -0.5
YLDE ClearBridge Dividend Strategy ESG ETF 35.2 60 -31 4.5 -1.8
RNDV US Equity Dividend Select ETF 35.2 50 -21 7.9 +1.6
IWD iShares Russell 1000 Value ETF 35.1 19 10 6.3 +0.0
IYY iShares Dow Jones U.S. ETF 35.1 20 9 4.7 -1.6
WOMN Impact Shares YWCA Women's Empowerment ETF 34.8 75 -46 3.9 -2.4
JVAL JPMorgan U.S. Value Factor ETF 34.6 12 17 7.6 +1.2
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 34.3 10 19 5.1 -1.2
SUSL iShares ESG MSCI USA Leaders ETF 34.3 10 19 5.0 -1.3
VTHR Vanguard Russell 3000 Index Fund 34.1 10 19 4.7 -1.7
FLQL Franklin LibertyQ U.S. Equity ETF 34.0 15 14 5.9 -0.4
SPQQ Siren Large Cap Blend Index ETF 34.0 20 9 4.4 -1.9
SPXT ProShares S&P 500 Ex-Technology ETF 34.0 27 2 5.2 -1.1
MMTM SPDR S&P 1500 Momentum Tilt ETF 33.8 12 17 4.2 -2.1
SCHB Schwab U.S. Broad Market ETF 33.2 3 26 4.7 -1.6
IWV iShares Russell 3000 ETF 33.2 20 9 4.6 -1.7
DTN WisdomTree U.S. Dividend ex-Financials Fund 33.1 38 -9 7.4 +1.1
ITOT iShares Core S&P Total U.S. Stock Market ETF 33.0 3 26 4.7 -1.6
RFDA RiverFront Dynamic US Dividend Advantage ETF 32.9 52 -23 5.1 -1.2
DFAU Dimensional US Core Equity Market ETF 32.8 12 17 5.0 -1.3
VOOG Vanguard S&P 500 Growth ETF 32.8 10 19 4.1 -2.2
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 32.8 19 10 5.6 -0.8
ACIO Aptus Collared Income Opportunity ETF 32.6 79 -50 3.9 -2.4
VLU SPDR S&P 1500 Value Tilt ETF 32.5 12 17 6.6 +0.3
RWL Invesco S&P 500 Revenue ETF 32.3 39 -10 6.6 +0.2
VONE Vanguard Russell 1000 ETF 32.1 8 21 4.8 -1.5
SPYG SPDR Portfolio S&P 500 Growth ETF 32.1 4 25 4.2 -2.1
IVW iShares S&P 500 Growth ETF 32.1 18 11 4.0 -2.3

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 17.0 %
Divided by: Fwd. P/BV 2.6 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 6.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 CATEGORY
AVERAGE
1.50
 
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.