Fidelity U.S. Multifactor ETF
ALTAR
Score™
6.2% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
20.7x P/Sales
ratio
2.3x
P/BV
ratio
4.2x Div.
yield
1.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
FLRG tracks an index large-cap US stocks selected by four factors - value, quality, low volatility, and momentum.

FUND BASICS
Category US Equities
Fund Sponsor Fidelity
Website screener.fidelity.com
Inception date Sep 15, 2020
Assets (mns) $4
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 99
Wgt avg mkt cap (mns) $340,398
Large cap (>$10bn) 84.7%
Mid cap ($2-10bn) 14.4%
Small cap (<$2bn) 0.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 6.2 %
MICROSOFT CORP 5.4 %
ALPHABET INC. CLASS A 3.7 %
FACEBOOK 2.5 %
JOHNSON & JOHNSON 1.8 %
HOME DEPOT INC 1.7 %
VISA INC-CLASS A SHARES 1.5 %
MCDONALD'S CORP 1.3 %
MASTERCARD INC-CLASS A 1.3 %
AMERICAN FINANCIAL GROUP INC 1.3 %
Total 26.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.7 %
BERMUDA 2.0 %
BRITAIN 1.1 %
IRELAND 0.9 %







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.
5.3% -- -- -- 5.3%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $20.91
30d moving avg. $20.41
Annualized volatility 0.0%
Short interest (ETF) 1.6%
Relative strength (RSI) 54

Liquidity measures
Avg. volume (thou.) 4
Turnover 2.0%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $55,784

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: FLRG Expense: 29 bp ALTAR Score™: 6.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FLRG
Ticker Fund
Name
Overlap1
vs FLRG
(%)
Expense
ratio
(bp)
Savings
vs FLRG
(bp)
ALTAR
Score™
(%)
ALTAR
vs FLRG
(%)
FQAL Fidelity Quality Factor ETF 53.2 29 0 5.2 -1.0
FCPI Fidelity Stocks for Inflation ETF 45.0 29 0 6.1 -0.0
FVAL Fidelity Value Factor ETF 43.2 29 0 7.3 +1.1
JQUA JPMorgan U.S. Quality Factor ETF 40.9 12 17 5.2 -1.0
FDLO Fidelity Low Volatility Factor ETF 39.6 29 0 5.0 -1.2
RECS Columbia Research Enhanced Core ETF 38.7 15 14 5.3 -0.9
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 38.4 15 14 5.9 -0.3
STLC iShares Factors US Blend Style ETF 37.5 25 4 5.0 -1.2
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 37.2 19 10 5.6 -0.6
FLQL Franklin LibertyQ U.S. Equity ETF 37.1 15 14 5.9 -0.3
OEF iShares S&P 100 ETF 36.9 20 9 4.5 -1.7
SPXN ProShares S&P 500 Ex-Financials ETF 36.8 27 2 4.6 -1.6
XLG Invesco S&P 500 Top 50 ETF 36.4 20 9 4.3 -1.9
MGC Vanguard Mega Cap Index Fund 36.2 7 22 4.8 -1.4
IWL iShares Russell Top 200 ETF 36.1 15 14 4.6 -1.6
QDEF FlexShares Quality Dividend Defensive Index Fund 36.1 37 -8 5.8 -0.4
BKLC BNY Mellon US Large Cap Core Equity ETF 36.0 0 29 4.8 -1.4
EPS WisdomTree U.S. Earnings 500 Fund 35.7 8 21 6.0 -0.2
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 35.2 20 9 4.6 -1.6
XOUT GraniteShares XOUT U.S. Large Cap ETF 35.2 60 -31 3.8 -2.4
PBP Invesco S&P 500 BuyWrite ETF 35.1 49 -20 4.7 -1.5
QLC FlexShares US Quality Large Cap Index Fund 35.1 32 -3 4.9 -1.3
HSPX Global X S&P 500 Covered Call ETF 35.0 60 -31 4.7 -1.5
EFIV SPDR S&P 500 ESG ETF 34.7 10 19 4.8 -1.4
XYLG Global X S&P 500 Covered Call & Growth ETF 34.7 60 -31 4.7 -1.5
SNPE Xtrackers S&P 500 ESG ETF 34.6 10 19 4.8 -1.4
QLV FlexShares US Quality Low Volatility Index Fund 34.4 22 7 4.7 -1.5
SPY SPDR S&P 500 ETF Trust 34.4 9 20 5.0 -1.2
SPLG SPDR Portfolio Large Cap ETF 34.3 3 26 5.1 -1.1
IVV iShares Core S&P 500 ETF 34.3 3 26 5.1 -1.1
VOOG Vanguard S&P 500 Growth ETF 34.2 10 19 4.1 -2.1
QDF FlexShares Quality Dividend Index Fund 34.2 37 -8 5.7 -0.5
IQSU IQ Candriam ESG US Equity ETF 34.2 9 20 4.8 -1.4
AFLG First Trust Active Factor Large Cap ETF 34.0 55 -26 4.9 -1.3
VOO VANGUARD S&P 500 ETF 33.8 3 26 5.1 -1.1
ESGV Vanguard ESG U.S. Stock ETF 33.7 12 17 4.7 -1.5
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 33.7 20 9 5.0 -1.2
SPXE ProShares S&P 500 Ex-Energy ETF 33.6 27 2 4.9 -1.3
SPYG SPDR Portfolio S&P 500 Growth ETF 33.6 4 25 4.2 -2.0
IVW iShares S&P 500 Growth ETF 33.6 18 11 4.1 -2.1
KRMA Global X Conscious Companies ETF 33.6 43 -14 4.8 -1.4
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 33.5 9 20 5.3 -0.9
OUSA O'Shares FTSE US Quality Dividend ETF 33.4 48 -19 5.6 -0.6
CATH Global X S&P 500 Catholic Values Custom ETF 33.4 29 0 4.7 -1.5
QUS SPDR MSCI USA StrategicFactors ETF 33.4 15 14 5.5 -0.7
DLN WisdomTree U.S. LargeCap Dividend Fund 33.3 28 1 6.1 -0.1
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 33.2 7 22 4.8 -1.4
NACP Impact Shares NAACP Minority Empowerment ETF 33.1 75 -46 4.6 -1.6
IUSG iShares Core S&P US Growth ETF 33.0 4 25 4.2 -2.0
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 32.9 49 -20 3.9 -2.3
SPXV ProShares S&P 500 Ex-Health Care ETF 32.8 27 2 4.6 -1.6
ESGU iShares MSCI USA ESG Optimized ETF 32.8 15 14 4.7 -1.5
PBUS Invesco PureBeta MSCI USA ETF 32.5 4 25 4.8 -1.4
MGK Vanguard Mega Cap Growth ETF 32.5 7 22 3.9 -2.3
ACIO Aptus Collared Income Opportunity ETF 32.5 79 -50 4.4 -1.8
EXT WisdomTree U.S. Total Earnings Fund 32.4 28 1 5.2 -1.0
QUAL iShares MSCI Usa Quality Factor ETF 32.3 15 14 5.1 -1.1
BBUS JP Morgan Betabuilders U.S. Equity ETF 32.2 2 27 4.9 -1.3
VV Vanguard Large-Cap Index Fund 31.8 4 25 4.8 -1.4
MMTM SPDR S&P 1500 Momentum Tilt ETF 31.8 12 17 4.2 -2.0
IWF iShares Russell 1000 Growth ETF 31.8 19 10 3.6 -2.6
SPTM SPDR Portfolio Total Stock Market ETF 31.7 3 26 5.1 -1.1
IWY iShares Russell Top 200 Growth ETF 31.7 20 9 3.8 -2.4
USMV iShares Edge MSCI Min Vol USA ETF 31.5 15 14 5.4 -0.8
VUG Vanguard Growth Index Fund 31.4 4 25 3.7 -2.5
VONG Vanguard Russell 1000 Growth Index Fund 31.4 8 21 3.8 -2.4
MTUM iShares MSCI USA Momentum Factor ETF 31.3 15 14 4.0 -2.2
STLG iShares Factors US Growth Style ETF 31.2 25 4 4.2 -2.0
SCHX Schwab U.S. Large-Cap ETF 31.2 3 26 4.8 -1.4
DSI iShares MSCI KLD 400 Social ETF 31.0 25 4 4.8 -1.4
ADME Aptus Drawdown Managed Equity ETF 31.0 79 -50 3.5 -2.7
ROUS Hartford Multifactor US Equity ETF 30.8 19 10 6.2 -0.0
ESG FlexShares STOXX US ESG Impact Index Fund 30.8 32 -3 4.8 -1.4
DIVB iShares U.S. Dividend & Buyback ETF 30.8 25 4 6.3 +0.1
IWB iShares Russell 1000 ETF 30.7 15 14 4.7 -1.5
DGRW WisdomTree U.S. Quality Dividend Growth Fund 30.6 28 1 6.2 +0.0
SPMO Invesco S&P 500 Momentum ETF 30.5 13 16 4.0 -2.2
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 30.5 10 19 5.0 -1.2
SUSL iShares ESG MSCI USA Leaders ETF 30.5 10 19 5.0 -1.2
SCHK Schwab 1000 Index ETF 30.5 5 24 4.8 -1.4
DTD WisdomTree U.S.Total Dividend Fund 30.3 28 1 6.3 +0.1
IYY iShares Dow Jones U.S. ETF 30.2 20 9 4.7 -1.5
QDYN FlexShares Quality Dividend Dynamic Index Fund 29.9 37 -8 5.7 -0.5
IGM iShares Expanded Tech Sector ETF 29.8 46 -17 3.6 -2.6
RFFC RiverFront Dynamic US Flex-Cap ETF 29.7 52 -23 4.7 -1.5
VTHR Vanguard Russell 3000 Index Fund 29.7 10 19 4.7 -1.5
WOMN Impact Shares YWCA Women's Empowerment ETF 29.6 75 -46 3.9 -2.3
HIPR Direxion High Growth ETF 29.5 40 -11 4.4 -1.8
IETC iShares Evolved U.S. Technology ETF 29.3 18 11 3.6 -2.6
SYE SPDR MFS Systematic Core Equity ETF 29.2 60 -31 5.4 -0.8
DFAU Dimensional US Core Equity Market ETF 29.2 12 17 5.0 -1.2
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 29.1 29 0 5.3 -0.9
VEGN US Vegan Climate ETF 28.8 60 -31 4.7 -1.5
IWV iShares Russell 3000 ETF 28.8 20 9 4.6 -1.6
SCHB Schwab U.S. Broad Market ETF 28.6 3 26 4.7 -1.5
FDRR Fidelity Dividend ETF for Rising Rates 28.5 29 0 6.3 +0.2
SPHQ Invesco S&P 500 Quality ETF 28.4 15 14 4.4 -1.8
ITOT iShares Core S&P Total U.S. Stock Market ETF 28.4 3 26 4.7 -1.5
FDMO Fidelity Momentum Factor ETF 28.4 29 0 3.2 -3.0
SYG SPDR MFS Systematic Growth Equity ETF 28.3 60 -31 4.1 -2.1

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 U.S. Multifactor ETF
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 23.6 %
Divided by: Fwd. P/BV 3.6 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 6.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 CATEGORY
AVERAGE
1.49
 
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.