Fidelity MSCI Financials Index ETF
ALTAR
Score™
11.9% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
8.6x P/Sales
ratio
1.6x
P/BV
ratio
0.9x Div.
yield
3.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Fidelity MSCI Financials 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 Financials Index.

FUND BASICS
Category US Equities
Fund Sponsor FMR LLC
Website www.fidelity.com
Inception date Oct 24, 2013
Assets (mns) $610
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 407
Wgt avg mkt cap (mns) $107,836
Large cap (>$10bn) 79.4%
Mid cap ($2-10bn) 14.9%
Small cap (<$2bn) 5.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
JPMORGAN CHASE & CO 10.1 %
BERKSHIRE HATHAWAY INC-CL B 8.6 %
BANK OF AMERICA CORP 6.5 %
WELLS FARGO & CO 4.1 %
CITIGROUP INC 3.3 %
CME GROUP INC 2.2 %
S&P GLOBAL, INC. 2.1 %
AMERICAN EXPRESS CO 2.1 %
US BANCORP 1.8 %
BLACKROCK INC 1.8 %
Total 42.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 93.5 %
BRITAIN 2.2 %
SWITZERLAND 1.8 %
BERMUDA 1.5 %
PUERTO RICO 0.2 %
CAYMAN ISLANDS 0.0 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-33.2% -19.5% 2.7% -- 5.0%

Market Correlations
versus... Beta R-squared
S&P500 1.30 84%
MSCI EAFE 1.25 75%
MSCI Emg. Mkts. 0.95 64%

Technical Indicators
Recent close $27.61
30d moving avg. $33.98
Annualized volatility 21.6%
Short interest (ETF) 0.1%
Short interest (Underlying) 2.2%
Relative strength (RSI) 33

Liquidity measures
Avg. volume (thou.) 538
Turnover 2.4%
Bid/Ask (% of price) 0.31%
ADV underlying (mns) $24,186

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: FNCL Expense: 8 bp ALTAR Score™: 11.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FNCL
Ticker Fund
Name
Overlap1
vs FNCL
(%)
Expense
ratio
(bp)
Savings
vs FNCL
(bp)
ALTAR
Score™
(%)
ALTAR
vs FNCL
(%)
VFH Vanguard Financials Index Fund 99.0 10 -2 11.9 +0.0
XLF Financial Select Sector SPDR Fund 80.0 13 -5 11.1 -0.9
IEFN iShares Evolved U.S. Financials ETF 70.4 18 -10 12.4 +0.4
IYF iShares U.S. Financials ETF 65.5 42 -34 9.5 -2.4
JHMF John Hancock Multifactor Financials ETF 64.6 40 -32 10.9 -1.0
IYG iShares US Financial Services ETF 64.0 42 -34 10.1 -1.9
RYF Invesco S&P 500 Equal Weight Financials ETF 52.4 40 -32 12.1 +0.2
IXG iShares Global Financials ETF 47.8 46 -38 12.7 +0.8
FXO First Trust Financials AlphaDEX Fund 36.8 63 -55 14.0 +2.1
DFNL Davis Select Financial ETF 36.3 64 -56 11.5 -0.5
KBWB Invesco KBW Bank ETF 34.4 35 -27 14.4 +2.5
FTXO First Trust Nasdaq Bank ETF 30.7 60 -52 15.3 +3.4
PKW Invesco Buyback Achievers ETF 29.0 62 -54 9.6 -2.3
SPVU Invesco S&P 500 Enhanced Value ETF 27.4 13 -5 16.1 +4.2
DUSA Davis Select U.S. Equity ETF 24.8 63 -55 7.9 -4.1
KCE SPDR S&P Capital Markets ETF 24.0 35 -27 11.1 -0.9
IWX iShares Russell Top 200 Value ETF 23.3 20 -12 9.0 -2.9
PWV Invesco Dynamic Large Cap Value ETF 22.6 55 -47 10.9 -1.1
KBE SPDR S&P Bank ETF 22.5 35 -27 15.8 +3.9
VONV Vanguard Russell 1000 Value Index Fund 21.9 8 0 9.5 -2.5
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 21.4 25 -17 7.8 -4.1
IWD iShares Russell 1000 Value ETF 21.2 19 -11 9.4 -2.6
RPV Invesco S&P 500 Pure Value ETF 20.9 35 -27 17.7 +5.8
AMCA iShares Russell 1000 Pure U.S. Revenue ETF 20.8 15 -7 9.0 -2.9
RAFE PIMCO RAFI ESG U.S. ETF 20.0 29 -21 10.6 -1.4
KIE SPDR S&P Insurance ETF 20.0 35 -27 11.9 -0.0
REVS Columbia Research Enhanced Value ETF 20.0 19 -11 10.1 -1.8
LGLV SPDR Russell 1000 Low Volatility ETF 19.9 12 -4 7.2 -4.7
VTV Vanguard Value Index Fund 19.8 4 4 9.4 -2.6
MGV Vanguard Mega Cap Value ETF 19.7 7 1 9.1 -2.9
DIVB iShares U.S. Dividend & Buyback ETF 19.4 25 -17 8.9 -3.0
VLU SPDR S&P 1500 Value Tilt ETF 19.2 12 -4 9.8 -2.2
IUSV iShares Core S&P U.S. Value ETF 19.1 4 4 9.6 -2.3
VOOV Vanguard S&P 500 Value ETF 18.9 15 -7 9.4 -2.5
SPYV SPDR Portfolio S&P 500 Value ETF 18.8 4 4 9.4 -2.5
DGRO iShares Core Dividend Growth ETF 18.8 8 0 8.6 -3.3
IVE iShares S&P 500 Value ETF 18.8 18 -10 9.3 -2.6
USDY Pacific Global US Equity Income ETF 18.7 29 -21 10.8 -1.2
FTA First Trust Large Cap Value AlphaDEX Fund 18.7 60 -52 12.3 +0.4
JKF iShares Morningstar Large Cap Value ETF 18.7 25 -17 9.8 -2.1
FAB First Trust Multi Cap Value AlphaDEX Fund 18.7 71 -63 13.4 +1.5
VFVA Vanguard U.S. Value Factor ETF 18.5 13 -5 16.6 +4.7
CLRG IQ Chaikin U.S. Large Cap ETF 17.6 25 -17 11.6 -0.4
PRF Invesco FTSE RAFI US 1000 ETF 16.8 39 -31 9.4 -2.6
IWS iShares Russell Mid-Cap Value ETF 16.6 24 -16 10.1 -1.9
NULV Nuveen ESG Large-Cap Value ETF 16.6 35 -27 9.5 -2.4
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 16.4 25 -17 8.8 -3.2
VFLQ Vanguard U.S. Liquidity Factor ETF 16.3 13 -5 5.6 -6.4
SCHV Schwab U.S. Large-Cap Value ETF 16.3 4 4 9.2 -2.7
EPS WisdomTree U.S. Earnings 500 Fund 16.2 8 0 8.6 -3.3
PY Principal Shareholder Yield Index ETF 16.2 29 -21 12.5 +0.6
IAK iShares U.S. Insurance ETF 16.0 43 -35 12.1 +0.2
TUSA First Trust Total US Market AlphaDEX ETF 16.0 70 -62 9.5 -2.5
VYM Vanguard High Dividend Yield Index ETF 15.8 6 2 9.2 -2.8
FMK First Trust Mega Cap AlphaDEX Fund 15.8 70 -62 7.2 -4.8
KNOW Direxion All Cap Insider Sentiment Shares 15.6 59 -51 7.4 -4.5
VFMF Vanguard U.S. Multifactor ETF 15.4 18 -10 11.1 -0.9
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 15.0 29 -21 9.3 -2.6
FEX First Trust Large Cap Core AlphaDEX Fund 14.9 60 -52 8.2 -3.7
AVUS Avantis U.S. Equity ETF 14.8 15 -7 8.1 -3.8
SPXT ProShares S&P 500 Ex-Technology ETF 14.6 27 -19 7.5 -4.4
VXF Vanguard Extended Market Index Fund 14.5 7 1 6.0 -6.0
SPYB SPDR S&P 500 Buyback ETF 14.5 35 -27 11.7 -0.2
CFA Victory CEMP US 500 Volatility Weighted Index ETF 14.4 35 -27 8.2 -3.7
TTFS AdvisorShares Wilshire Buyback ETF 14.4 91 -83 8.2 -3.7
DURA VanEck Vectors Morningstar Durable Dividend ETF 14.3 29 -21 8.7 -3.2
PFI Invesco DWA Financial Momentum ETF 14.3 60 -52 8.4 -3.6
AUSF Global X Adaptive U.S. Factor ETF 14.1 27 -19 10.6 -1.3
RDVY First Trust Rising Dividend Achievers ETF 14.1 50 -42 10.2 -1.7
JKD iShares Morningstar Large-Cap ETF 13.9 20 -12 7.6 -4.3
DTD WisdomTree U.S.Total Dividend Fund 13.6 28 -20 8.7 -3.2
SYV SPDR MFS Systematic Value Equity ETF 13.5 60 -52 10.0 -1.9
VEGN US Vegan Climate ETF 13.5 60 -52 7.2 -4.7
VFQY Vanguard U.S. Quality Factor ETF 13.5 13 -5 8.7 -3.3
VETS Pacer Military Times Best Employers ETF 13.3 60 -52 8.6 -3.3
PSET Principal Price Setters Index ETF 13.3 29 -21 7.1 -4.8
JHMM John Hancock Multifactor Mid Cap ETF 13.1 44 -36 8.4 -3.6
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 13.1 9 -1 8.2 -3.7
FNDB Schwab Fundamental U.S. Broad Market Index ETF 13.0 25 -17 8.6 -3.4
EUSA iShares MSCI USA Equal Weighted ETF 13.0 15 -7 8.6 -3.4
SIZE iShares Edge MSCI USA Size Factor ETF 13.0 15 -7 8.4 -3.5
FNDX Schwab Fundamental U.S. Large Co. Index ETF 13.0 25 -17 8.5 -3.4
MOAT VanEck Vectors Morningstar Wide Moat ETF 12.9 49 -41 8.3 -3.7
SPXV ProShares S&P 500 Ex-Health Care ETF 12.9 27 -19 6.9 -5.0
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 12.8 49 -41 7.7 -4.2
PBSM Invesco PureBeta MSCI USA Small Cap ETF 12.7 6 2 7.8 -4.1
VB Vanguard Small-Cap ETF 12.5 5 3 8.2 -3.8
DLN WisdomTree U.S. LargeCap Dividend Fund 12.5 28 -20 8.3 -3.7
EQWL Invesco Russell Top 200 Equal Weight ETF 12.4 25 -17 7.8 -4.2
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 12.3 17 -9 9.0 -2.9
FDVV Fidelity Core Dividend ETF 12.3 29 -21 9.9 -2.0
JHML John Hancock Multifactor Large Cap ETF 12.2 34 -26 7.6 -4.3
CDL Victory CEMP US Large Cap High Dividend Volatility Wtd Idx E 12.2 35 -27 11.6 -0.4
SLT Salt TruBeta High Exposure ETF 12.2 29 -21 12.4 +0.5
KRE SPDR S&P Regional Banking ETF 12.0 35 -27 15.9 +4.0
USMV iShares Edge MSCI Min Vol USA ETF 12.0 15 -7 7.0 -5.0
RSP Invesco S&P 500 Equal Weight ETF 12.0 20 -12 8.9 -3.0
IAT iShares U.S. Regional Banks ETF 11.9 42 -34 15.4 +3.4
HSPX Global X S&P 500 Covered Call ETF 11.9 65 -57 6.4 -5.6
RWL Invesco S&P 500 Revenue ETF 11.8 39 -31 9.3 -2.6

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 Financials Index 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 10.1 %
Divided by: Fwd. P/BV 0.8 x
Less: Expense ratio 8 bp
Equals: ALTAR Score 11.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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