Fidelity International Value Factor ETF
ALTAR
Score™
10.2% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
17.7x P/Sales
ratio
0.7x
P/BV
ratio
1.0x Div.
yield
3.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Fidelity International Value Factor ETF tracks a multi-factor index of large- and midcap value stocks from developed markets, ex-US.

FUND BASICS
Category International Equities
Fund Sponsor Fidelity
Website screener.fidelity.com
Inception date Jan 16, 2018
Assets (mns) $15
Currency USD
Expense ratio 39 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 106
Wgt avg mkt cap (mns) $60,160
Large cap (>$10bn) 83.3%
Mid cap ($2-10bn) 16.3%
Small cap (<$2bn) 0.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NESTLE SA-REG 3.0 %
ROCHE HOLDING AG-GENUSSCHEIN 2.3 %
NOVARTIS AG-REG 2.0 %
SAP AG 1.8 %
ASTELLAS PHARMA INC 1.6 %
SONY CORP 1.6 %
SCHNEIDER ELECTRIC SA 1.5 %
SHOWA DENKO K K 1.5 %
VODAFONE GROUP PLC 1.4 %
SHIONOGI & CO LTD 1.4 %
Total 18.0 %

TOP COUNTRY EXPOSURE
JAPAN 26.2 %
BRITAIN 14.3 %
SWITZERLAND 10.0 %
FRANCE 9.3 %
GERMANY 8.6 %
CANADA 6.1 %
NETHERLANDS 4.5 %
HONG KONG 4.0 %
AUSTRALIA 4.0 %
ITALY 3.0 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-20.7% -10.6% -- -- -8.8%

Market Correlations
versus... Beta R-squared
S&P500 0.85 78%
MSCI EAFE 1.04 97%
MSCI Emg. Mkts. 0.80 83%

Technical Indicators
Recent close $19.07
30d moving avg. $17.39
Annualized volatility 18.7%
Short interest (ETF) 1.8%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.6%
Bid/Ask (% of price) 0.75%
ADV underlying (mns) $15,080

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Fidelity International Value Factor ETF ETF based on the alternatives' overlap in portfolio holdings with FIVA. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FIVA Expense: 39 bp ALTAR Score™: 10.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FIVA
Ticker Fund
Name
Overlap1
vs FIVA
(%)
Expense
ratio
(bp)
Savings
vs FIVA
(bp)
ALTAR
Score™
(%)
ALTAR
vs FIVA
(%)
IVLU iShares Edge MSCI Intl Value Factor ETF 35.0 30 9 11.3 +1.1
DOL WisdomTree International LargeCap Dividend Fund 34.2 48 -9 8.5 -1.7
IDY Pacific Global International Equity Income ETF 31.9 39 0 8.0 -2.2
EFV iShares MSCI EAFE Value ETF 29.4 39 0 10.0 -0.2
IEV iShares Europe ETF 29.2 59 -20 6.8 -3.4
DOO WisdomTree International Dividend ex-Financials Fund 28.5 58 -19 8.7 -1.5
DBEU Xtrackers MSCI Europe Hedged Equity ETF 28.2 45 -6 6.8 -3.4
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 28.1 30 9 6.8 -3.4
IQIN IQ 500 International ETF 28.1 25 14 9.0 -1.2
FLEE Franklin FTSE Europe ETF 27.9 9 30 7.0 -3.2
FLEH Franklin FTSE Europe Hedged ETF 27.7 9 30 7.2 -3.0
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 27.2 45 -6 8.8 -1.4
EFA iShares MSCI EAFE ETF 27.1 32 7 7.2 -3.0
FNDF Schwab Fundamental International Large Co. Index ETF 27.0 25 14 8.7 -1.5
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 26.9 25 14 6.7 -3.5
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 26.6 35 4 7.0 -3.2
IQSI IQ Candriam ESG International Equity ETF 26.6 15 24 7.3 -2.9
BBEU JPMorgan BetaBuilders Europe ETF 26.5 9 30 7.3 -2.9
IEUR iShares Core MSCI Europe ETF 26.4 9 30 7.3 -2.9
DWM WisdomTree International Equity Fund 26.3 48 -9 8.2 -2.0
VGK Vanguard FTSE Europe ETF 26.2 8 31 7.3 -2.9
FEU SPDR Portfolio Europe ETF 26.1 9 30 7.3 -2.9
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 26.1 35 4 8.6 -1.6
ISDX Invesco Strategic Developed ex-US ETF 26.1 23 16 7.4 -2.8
PDEV Principal International Multi-Factor Core Index ETF 25.8 25 14 7.9 -2.3
HFXI IQ 50 Percent Hedged FTSE International ETF 25.5 20 19 7.5 -2.7
RFDI First Trust Riverfront Dynamic Developed International ETF 25.2 83 -44 6.3 -3.9
OEUR O'shares FTSE Europe Quality Dividend ETF 25.0 48 -9 6.6 -3.6
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 24.7 20 19 7.3 -2.9
JHMD John Hancock Multifactor Developed International ETF 24.3 45 -6 7.4 -2.8
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 24.3 7 32 7.6 -2.6
FIDI Fidelity International High Dividend ETF 24.1 39 0 10.8 +0.6
VYMI Vanguard International High Dividend Yield ETF 24.1 32 7 10.1 -0.1
SCHF Schwab International Equity ETF 23.9 6 33 7.4 -2.8
QEFA SPDR MSCI EAFE Quality Mix ETF 23.7 30 9 6.8 -3.4
ESGN Columbia Sustainable International Equity Income ETF 23.6 45 -6 11.1 +0.9
IEFA iShares Core MSCI EAFE ETF 23.1 7 32 7.3 -2.9
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 22.9 48 -9 0.0 -10.2
GSIE Goldman Sachs ActiveBeta International Equity ETF 22.9 25 14 6.8 -3.4
ESGD iShares MSCI EAFE ESG Optimized ETF 22.6 20 19 7.2 -3.0
IGRO iShares International Dividend Growth ETF 22.2 22 17 8.0 -2.2
DWMF WisdomTree International Multifactor Fund 22.2 38 1 6.8 -3.4
SPDW SPDR Portfolio Developed World ex-US ETF 22.2 4 35 7.2 -3.0
RFEU First Trust Riverfront Dynamic Europe ETF 22.0 83 -44 5.0 -5.2
FDEV Fidelity Targeted International Factor ETF 21.9 39 0 6.5 -3.7
IDEV iShares Core MSCI International Developed Markets ETF 21.8 5 34 7.3 -2.9
NUDM Nuveen ESG International Developed Markets Equity ETF 21.6 40 -1 6.9 -3.3
CWI SPDR MSCI ACWI ex-US ETF 21.4 30 9 7.6 -2.6
DTH WisdomTree DEFA Equity Income Fund 21.4 58 -19 9.6 -0.6
VEA Vanguard FTSE Developed Markets ETF 21.1 5 34 7.4 -2.8
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 20.5 45 -6 9.8 -0.4
IQDE FlexShares International Quality Dividend Defensive Index Fd 20.2 47 -8 12.7 +2.5
IQLT iShares Edge MSCI Intl Quality Factor ETF 20.1 30 9 6.2 -4.0
RODM Hartford Multifactor Developed Markets (ex-US) ETF 19.4 29 10 8.6 -1.6
EFG iShares MSCI EAFE Growth ETF 19.2 40 -1 4.7 -5.5
LVIN Hartford Multifactor Low Volatility International Equity ETF 19.2 29 10 12.2 +2.0
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 19.0 80 -41 6.0 -4.2
ACWX iShares MSCI ACWI ex U.S. ETF 19.0 32 7 7.5 -2.7
IQDF FlexShares International Quality Dividend Index Fund 18.7 47 -8 12.9 +2.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 18.7 40 -1 7.4 -2.8
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 18.5 14 25 7.0 -3.2
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 18.3 32 7 6.5 -3.7
UIVM VictoryShares USAA MSCI International Value Momentum ETF 17.9 35 4 8.6 -1.6
VEU Vanguard FTSE All-World ex-US Index Fund 17.8 8 31 7.7 -2.5
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 17.8 39 0 6.7 -3.5
EZU iShares MSCI Eurozone ETF 17.8 49 -10 6.7 -3.5
EURZ Xtrackers Eurozone Equity ETF 17.6 9 30 7.0 -3.2
IQDY FlexShares International Quality Dividend Dynamic Index Fund 17.5 47 -8 13.5 +3.3
IMTM iShares Edge MSCI Intl Momentum Factor ETF 17.2 30 9 5.0 -5.2
DMDV AAM S&P Developed Markets High Dividend Value ETF 17.1 39 0 10.9 +0.7
FYLD Cambria Foreign Shareholder Yield ETF 17.0 59 -20 9.3 -0.9
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 16.9 45 -6 6.8 -3.4
EUMV iShares Edge MSCI Min Vol Europe ETF 16.9 25 14 5.5 -4.7
EWJV iShares MSCI Japan Value ETF 16.9 15 24 10.8 +0.6
RFAP First Trust Riverfront Dynamic Asia Pacific ETF 16.8 83 -44 7.1 -3.1
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 16.7 39 0 9.1 -1.1
INTF iShares Edge MSCI Multifactor Intl ETF 16.6 30 9 8.3 -1.9
IXUS ishares Core MSCI Total International Stock ETF 16.6 9 30 7.6 -2.6
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 16.4 25 14 7.6 -2.6
ICOW Pacer Developed Markets International Cash Cows 100 ETF 16.4 65 -26 11.7 +1.5
QINT American Century Quality Diversified International ETF 16.2 39 0 5.9 -4.3
VXUS Vanguard Total International Stock Index Fund 16.1 8 31 7.7 -2.5
IPAC iShares Core MSCI Pacific ETF 15.8 9 30 7.5 -2.7
JPXN iShares JPX-Nikkei 400 ETF 15.8 48 -9 7.5 -2.7
QJPN SPDR MSCI Japan StrategicFactors ETF 15.7 14 25 8.0 -2.2
IDHQ Invesco S&P International Developed High Quality ETF 15.7 29 10 5.4 -4.8
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 15.6 16 23 7.1 -3.1
EWJ iShares MSCI Japan ETF 15.5 49 -10 7.4 -2.8
VIGI Vanguard International Dividend Appreciation ETF 15.5 25 14 5.9 -4.3
RNDM Developed International Equity Select ETF 15.4 65 -26 6.4 -3.8
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 15.3 20 19 10.9 +0.7
IDLV Invesco S&P International Developed Low Volatility ETF 15.3 25 14 6.9 -3.3
EFAV iShares Edge MSCI Min Vol EAFE ETF 15.2 20 19 5.9 -4.3
JPN Xtrackers Japan JPX-Nikkei 400 Equity ETF 15.2 9 30 7.9 -2.3
BBJP JPMorgan BetaBuilders Japan ETF 15.0 19 20 7.7 -2.5
DBJP Xtrackers MSCI Japan Hedged Equity ETF 14.8 45 -6 7.4 -2.8
HFXJ IQ 50 Percent Hedged FTSE Japan ETF 14.7 30 9 7.6 -2.6
FLJP Franklin FTSE Japan ETF 14.7 9 30 7.8 -2.4
IOO iShares Global 100 ETF 14.7 40 -1 4.9 -5.3

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%.

Content on this tab for subscribers only**

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 International Value Factor ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.9 %
Divided by: Fwd. P/BV 0.9 x
Less: Expense ratio 39 bp
Equals: ALTAR Score 10.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.51 CATEGORY
AVERAGE
1.59
 
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.