Fidelity MSCI Materials Index ETF
ALTAR
Score™
8.1% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
15.0x P/Sales
ratio
1.1x
P/BV
ratio
1.7x Div.
yield
2.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Fidelity MSCI Materials Index ETF is an exchange-traded fund incorporated in the USA. The ETF seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Materials Index.

FUND BASICS
Category US Equities
Fund Sponsor FMR LLC
Website www.fidelity.com
Inception date Oct 24, 2013
Assets (mns) $119
Currency USD
Expense ratio 8 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust Co
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 118
Wgt avg mkt cap (mns) $29,502
Large cap (>$10bn) 67.1%
Mid cap ($2-10bn) 25.3%
Small cap (<$2bn) 7.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
PRAXAIR INC 13.8 %
AIR PRODUCTS & CHEMICALS INC 6.6 %
ECOLAB INC 6.3 %
SHERWIN-WILLIAMS CO/THE 5.9 %
NEWMONT MINING CORP 5.9 %
DOW CHEMICAL 3.9 %
DOW, INC. 3.3 %
PPG INDUSTRIES INC 3.1 %
BALL CORP 3.1 %
CORTEVA INC 2.7 %
Total 54.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 81.7 %
BRITAIN 17.8 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 29)
Year-to-date 1 year 5 years 10 years Since Incep.
-15.0% -5.8% 2.1% -- 4.3%

Market Correlations
versus... Beta R-squared
S&P500 1.13 83%
MSCI EAFE 1.15 75%
MSCI Emg. Mkts. 0.88 64%

Technical Indicators
Recent close $24.77
30d moving avg. $27.75
Annualized volatility 16.4%
Short interest (ETF) 0.3%
Short interest (Underlying) 3.5%
Relative strength (RSI) 35

Liquidity measures
Avg. volume (thou.) 40
Turnover 0.8%
Bid/Ask (% of price) 0.18%
ADV underlying (mns) $8,354

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: FMAT Expense: 8 bp ALTAR Score™: 8.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FMAT
Ticker Fund
Name
Overlap1
vs FMAT
(%)
Expense
ratio
(bp)
Savings
vs FMAT
(bp)
ALTAR
Score™
(%)
ALTAR
vs FMAT
(%)
VAW Vanguard Materials Index Fund 99.2 10 -2 8.1 -0.0
XLB Materials Select Sector SPDR Fund 78.9 13 -5 7.6 -0.5
JHMA John Hancock Multifactor Materials ETF 69.5 40 -32 8.7 +0.6
IYM iShares U.S. Basic Materials ETF 68.7 42 -34 7.6 -0.5
RTM Invesco S&P 500 Equal Weight Materials ETF 58.9 40 -32 8.0 -0.1
PYZ Invesco DWA Basic Materials Momentum ETF 40.6 60 -52 7.2 -0.9
FXZ First Trust Materials AlphaDEX Fund 38.8 65 -57 10.1 +2.0
MXI iShares Global Materials ETF 35.9 46 -38 8.2 +0.1
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 24.0 60 -52 8.5 +0.4
IGE iShares North American Natural Resources ETF 21.8 46 -38 6.5 -1.7
EQRR ProShares Equities for Rising Rates ETF 15.5 35 -27 11.5 +3.4
XME SPDR S&P Metals & Mining ETF 13.5 35 -27 12.7 +4.6
NANR SPDR S&P North American Natural Resources ETF 12.8 35 -27 5.4 -2.7
GNR SPDR S&P Global Natural Resources ETF 12.6 40 -32 8.7 +0.6
NOBL ProShares S&P 500 Dividend Aristocrats ETF 11.7 35 -27 7.1 -1.1
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 11.7 75 -67 6.7 -1.4
DIET Defiance Next Gen Food & Agriculture ETF 11.6 30 -22 5.7 -2.4
TPHD Timothy Plan High Dividend Stock ETF 11.6 52 -44 8.9 +0.8
PEXL Pacer US Export Leaders ETF 11.3 60 -52 8.5 +0.4
VOE Vanguard Mid-Cap Value Index Fund 11.1 7 1 10.0 +1.9
YLDE ClearBridge Dividend Strategy ESG ETF 10.6 60 -52 5.9 -2.2
CUT Invesco MSCI Global Timber ETF 10.2 55 -47 11.4 +3.3
PAVE Global X U.S. Infrastructure Development ETF 10.1 47 -39 8.0 -0.1
GUNR Flexshares Morningstar Global Upstream Natural Resources 10.1 46 -38 8.0 -0.1
COWZ Pacer US Cash Cows 100 ETF 10.0 49 -41 13.0 +4.9
JKI iShares Morningstar Mid-Cap Value ETF 9.8 30 -22 12.3 +4.2
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 9.8 24 -16 7.9 -0.2
ONEY SPDR Russell 1000 Yield Focus ETF 9.5 20 -12 11.3 +3.2
LVUS Hartford Multifactor Low Volatility US Equity ETF 9.5 19 -11 7.3 -0.8
JPUS JPMorgan Diversified Return U.S. Equity ETF 9.3 19 -11 7.9 -0.2
DAX Global X DAX Germany ETF 9.2 20 -12 10.6 +2.5
JDIV JPMorgan U.S. Dividend ETF 9.2 12 -4 10.2 +2.1
EQAL Invesco Russell 1000 Equal Weight ETF 8.8 20 -12 7.3 -0.8
CZA Invesco Zacks Mid-Cap ETF 8.8 76 -68 8.7 +0.6
RDIV Invesco S&P Ultra Dividend Revenue ETF 8.5 39 -31 14.2 +6.1
TPLC Timothy Plan US Large Cap Core ETF 8.4 52 -44 6.9 -1.2
TMDV ProShares Russell US Dividend Growers ETF 8.4 35 -27 6.3 -1.8
FDVV Fidelity Core Dividend ETF 8.4 29 -21 9.3 +1.2
SDY SPDR S&P Dividend ETF 8.2 35 -27 7.7 -0.4
DTN WisdomTree U.S. Dividend ex-Financials Fund 8.2 38 -30 9.7 +1.6
FNK First Trust Mid Cap Value AlphaDEX Fund 8.0 70 -62 14.8 +6.7
DON WisdomTree U.S. MidCap Dividend Fund 7.9 38 -30 10.6 +2.5
PVAL Principal Contrarian Value Index ETF 7.7 29 -21 9.8 +1.7
IFRA iShares U.S. Infrastructure ETF 7.7 40 -32 7.3 -0.8
FAB First Trust Multi Cap Value AlphaDEX Fund 7.6 71 -63 12.5 +4.4
SDOG ALPS Sector Dividend Dogs ETF 7.4 40 -32 13.2 +5.1
QSY WisdomTree U.S. LargeCap Value Fund 7.4 38 -30 9.1 +1.0
RPV Invesco S&P 500 Pure Value ETF 7.2 35 -27 16.0 +7.9
UTRN Vesper U.S. Large Cap Short-Term Reversal Strategy ETF 7.1 75 -67 10.5 +2.4
DVY iShares Select Dividend ETF 7.1 39 -31 10.3 +2.2
GDX VanEck Vectors Gold Miners ETF 7.0 52 -44 4.4 -3.7
SGDM Sprott Gold Miners ETF 7.0 50 -42 3.5 -4.6
HAP VanEck Vectors Natural Resources ETF 7.0 50 -42 8.4 +0.3
IWS iShares Russell Mid-Cap Value ETF 7.0 24 -16 9.3 +1.2
SPDV AAM S&P 500 High Dividend Value ETF 7.0 29 -21 13.6 +5.5
MAGA Point Bridge GOP Stock Tracker ETF 7.0 72 -64 8.9 +0.8
SPVU Invesco S&P 500 Enhanced Value ETF 6.8 13 -5 14.7 +6.6
EZM WisdomTree U.S. MidCap Earnings Fund 6.8 38 -30 12.8 +4.7
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 6.8 20 -12 9.7 +1.6
VBR Vanguard Small Cap Value Index Fund 6.7 7 1 11.1 +3.0
RWK Invesco S&P MidCap 400 Revenue ETF 6.7 39 -31 11.1 +3.0
ONEV SPDR Russell 1000 Low Volatility Focus ETF 6.6 20 -12 8.9 +0.8
ONEO SPDR Russell 1000 Momentum Focus ETF 6.6 20 -12 8.8 +0.7
PICK iShares MSCI Global Metals & Mining Producers ETF 6.5 39 -31 10.9 +2.8
DVP Deep Value ETF 6.4 59 -51 20.6 +12.5
VO Vanguard Mid-Cap Index Fund 6.4 4 4 7.1 -1.0
EWMC Invesco S&P MidCap 400 Equal Weight ETF 6.4 40 -32 9.2 +1.1
FTA First Trust Large Cap Value AlphaDEX Fund 6.4 60 -52 11.5 +3.4
FTCS First Trust Capital Strength ETF 6.4 60 -52 5.9 -2.2
RVRS Reverse Cap Weighted U.S. Large Cap ETF 6.4 29 -21 9.9 +1.8
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 6.4 48 -40 8.4 +0.3
CSD Invesco S&P Spin-Off ETF 6.3 62 -54 11.0 +2.9
SCHM Schwab U.S. Mid-Cap ETF 6.3 4 4 8.4 +0.3
VEGI iShares MSCI Global Agriculture Producers ETF 6.3 39 -31 7.3 -0.8
FVL First Trust Value Line 100 Exchange-Traded Fund 6.3 70 -62 5.3 -2.8
PIO Invesco Global Water ETF 6.3 75 -67 4.9 -3.2
PHO Invesco Water Resources ETF 6.3 60 -52 4.6 -3.5
RBUS Nationwide Risk-Based U.S. Equity ETF 6.3 30 -22 6.8 -1.3
FTAG First Trust Indxx Global Agriculture ETF 6.3 70 -62 8.3 +0.2
GRES IQ Global Resources ETF 6.3 77 -69 9.3 +1.2
NUMV Nuveen ESG Mid-Cap Value ETF 6.3 40 -32 10.8 +2.7
SPHB Invesco S&P 500 High Beta ETF 6.3 25 -17 10.9 +2.8
SPYD SPDR S&P 500 High Dividend ETF 6.2 7 1 13.2 +5.1
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 6.2 49 -41 10.8 +2.7
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 6.2 17 -9 8.5 +0.4
ESGS Columbia Sustainable U.S. Equity Income ETF 6.2 35 -27 11.5 +3.4
SYLD Cambria Shareholder Yield ETF 6.1 59 -51 14.1 +6.0
IYJ iShares U.S. Industrials ETF 6.1 42 -34 7.4 -0.7
MOO VanEck Vectors Agribusiness ETF 6.1 54 -46 6.9 -1.2
CDL Victory CEMP US Large Cap High Dividend Volatility Wtd Idx E 6.1 35 -27 10.8 +2.7
ITB iShares U.S. Home Construction ETF 6.0 42 -34 12.6 +4.5
RING iShares MSCI Global Gold Miners ETF 6.0 39 -31 5.1 -3.0
FNDA Schwab Fundamental U.S. Small Co. Index ETF 6.0 25 -17 9.1 +1.0
RNMC Mid Cap US Equity Select ETF 6.0 60 -52 9.4 +1.3
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 6.0 29 -21 8.7 +0.6
KLCD KFA Large Cap Quality Dividend Index ETF 5.9 41 -33 6.3 -1.8
WBIY WBI Power Factor High Dividend ETF 5.9 70 -62 19.6 +11.5
JMIN JPMorgan U.S. Minimum Volatility ETF 5.9 12 -4 6.8 -1.3
FNX First Trust Mid Cap Core AlphaDEX Fund 5.8 61 -53 9.5 +1.4
SLVP iShares MSCI Global Silver Miners ETF 5.8 39 -31 2.8 -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%.

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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 MSCI Materials Index ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 13.6 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 8 bp
Equals: ALTAR Score 8.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.52 CATEGORY
AVERAGE
1.52
 
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.