Fidelity Core Dividend
ALTAR
Score™
7.3% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
15.4x P/Sales
ratio
2.0x
P/BV
ratio
2.0x Div.
yield
4.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Fidelity Core Dividend ETF tracks an index of large- and midcap companies that exhibit positive dividend characteristics, with overweights to sectors that exhibit higher dividend yield.

FUND BASICS
Category US Equities
Fund Sponsor Fidelity
Website screener.fidelity.com
Inception date Sep 12, 2016
Assets (mns) $478
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 121
Wgt avg mkt cap (mns) $204,631
Large cap (>$10bn) 83.6%
Mid cap ($2-10bn) 15.9%
Small cap (<$2bn) 0.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 3.7 %
MICROSOFT CORP 3.5 %
JPMORGAN CHASE & CO 3.3 %
PROCTER & GAMBLE CO/THE 3.0 %
BANK OF AMERICA CORP 2.7 %
PEPSICO INC 2.5 %
EXXON MOBIL CORP 2.5 %
CHEVRON CORP 2.3 %
WELLS FARGO & CO 2.3 %
PHILIP MORRIS INTERNATIONAL 2.1 %
Total 28.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 93.1 %
BRITAIN 4.4 %
IRELAND 1.0 %
BERMUDA 0.5 %
DENMARK 0.1 %
NETHERLANDS 0.1 %
HONG KONG 0.1 %




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.
19.3% 9.2% -- -- 11.0%

Market Correlations
versus... Beta R-squared
S&P500 0.84 90%
MSCI EAFE 0.75 59%
MSCI Emg. Mkts. 0.52 45%

Technical Indicators
Recent close $31.63
30d moving avg. $31.14
Annualized volatility 10.7%
Short interest (ETF) 0.6%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 101
Turnover 0.7%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $53,366

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Fidelity Core Dividend ETF based on the alternatives' overlap in portfolio holdings with FDVV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FDVV Expense: 29 bp ALTAR Score™: 7.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FDVV
Ticker Fund
Name
Overlap1
vs FDVV
(%)
Expense
ratio
(bp)
Savings
vs FDVV
(bp)
ALTAR
Score™
(%)
ALTAR
vs FDVV
(%)
FDRR Fidelity Dividend for Rising Rates 61.8 29 0 7.7 +0.5
DLN WisdomTree Large Cap Dividend 49.1 28 1 6.5 -0.8
OYLD Invesco Russell 1000 Yield Factor ETF 46.7 19 10 7.0 -0.2
DTD WisdomTree Total Dividend 45.3 28 1 6.5 -0.7
DIVB iShares U.S. Dividend & Buyback 43.2 25 4 6.6 -0.7
VYM Vanguard High Dividend Yield ETF 40.9 6 23 7.2 -0.1
OEF iShares S&P 100 39.9 20 9 5.4 -1.8
IWL iShares Russell Top 200 39.1 15 14 5.6 -1.6
DHS WisdomTree Equity Income 38.5 38 -9 7.2 -0.1
MGV Vanguard Mega Cap 300 Value 38.5 7 22 7.0 -0.3
SCHV Schwab U.S. Large-Cap Value 38.4 4 25 6.9 -0.4
MGC Vanguard Mega Cap 300 ETF 38.0 7 22 5.8 -1.5
OUSA O'Shares FTSE U.S. Quality Dividend 38.0 48 -19 5.9 -1.4
WOMN Impact Shares YWCA Women's Empowerment 38.0 75 -46 5.4 -1.9
EQWL Invesco Fundamental Pure Large Core 38.0 25 4 6.3 -1.0
QDYN FlexShares Quality Dividend Dynamic 37.6 37 -8 6.7 -0.6
DGRO iShares Core Dividend Growth 37.5 8 21 6.4 -0.9
EPS WisdomTree Earnings 500 37.3 8 21 6.8 -0.5
QDEF FlexShares Quality Dividend Defensive 37.2 37 -8 6.4 -0.8
USDY Pacific Global US Equity Income 37.1 29 0 7.4 +0.1

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%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Fidelity Core Dividend
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 14.1 %
Divided by: Fwd. P/BV 1.9 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
1.59 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.