Fidelity Dividend for Rising Rates
ALTAR
Score™
7.3% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
14.8x P/Sales
ratio
1.8x
P/BV
ratio
2.5x Div.
yield
3.5%


  • 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) $396
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 132
Wgt avg mkt cap (mns) $287,150
Large cap (>$10bn) 88.2%
Mid cap ($2-10bn) 11.6%
Small cap (<$2bn) 0.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 6.1 %
MICROSOFT CORP 5.9 %
JOHNSON & JOHNSON 2.5 %
JPMORGAN CHASE & CO 2.5 %
INTEL CORP 1.9 %
BANK OF AMERICA CORP 1.9 %
MERCK & CO. INC. 1.9 %
BRISTOL-MYERS SQUIBB CO 1.8 %
AMGEN INC 1.7 %
ABBVIE INC 1.7 %
Total 27.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 92.9 %
BRITAIN 3.1 %
IRELAND 1.7 %
DENMARK 0.5 %
BERMUDA 0.3 %
NETHERLANDS 0.3 %
HONG KONG 0.2 %
AUSTRALIA 0.1 %



HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-1.4% 17.3% -- -- 12.9%

Market Correlations
versus... Beta R-squared
S&P500 0.94 95%
MSCI EAFE 0.87 66%
MSCI Emg. Mkts. 0.59 52%

Technical Indicators
Recent close $36.29
30d moving avg. $35.69
Annualized volatility 11.8%
Short interest (ETF) 0.1%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 44
Turnover 0.4%
Bid/Ask (% of price) 0.29%
ADV underlying (mns) $57,339

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Fidelity Dividend 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™: 7.3%


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
(%)
FDVV Fidelity Core Dividend 61.9 29 0 6.9 -0.4
DLN WisdomTree Large Cap Dividend 56.5 28 1 6.4 -0.8
OVOL Invesco Russell 1000 Low Volatility Factor ETF 54.9 19 10 6.6 -0.7
OYLD Invesco Russell 1000 Yield Factor ETF 53.9 19 10 7.4 +0.1
OEF iShares S&P 100 52.9 20 9 5.2 -2.0
DIVB iShares U.S. Dividend & Buyback 52.4 25 4 6.5 -0.7
DTD WisdomTree Total Dividend 50.7 28 1 6.5 -0.7
IWL iShares Russell Top 200 50.5 15 14 5.3 -1.9
DGRO iShares Core Dividend Growth 48.0 8 21 6.3 -1.0
MGC Vanguard Mega Cap 300 ETF 47.9 7 22 5.5 -1.8
VYM Vanguard High Dividend Yield ETF 47.7 6 23 7.1 -0.2
QDYN FlexShares Quality Dividend Dynamic 47.6 37 -8 7.0 -0.3
USDY Pacific Global US Equity Income 46.8 29 0 7.4 +0.2
SNPE Xtrackers S&P 500 ESG 46.2 11 18 5.5 -1.8
SCHV Schwab U.S. Large-Cap Value 45.9 4 25 6.9 -0.4
XLG Invesco S&P Top 50 45.9 20 9 4.9 -2.4
OUSA O'Shares FTSE U.S. Quality Dividend 45.7 48 -19 5.9 -1.4
EPS WisdomTree Earnings 500 45.4 8 21 6.7 -0.6
SPXN ProShares S&P 500 Ex-Financials 45.0 27 2 5.5 -1.8
NACP Impact Shares NAACP Minority Empowerment 44.9 75 -46 4.8 -2.4

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

Content on this tab for subscribers only

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 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 18.2 %
Divided by: Fwd. P/BV 2.4 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 7.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.55 CATEGORY
AVERAGE
1.56
 
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.