Fidelity Quality Factor ETF
ALTAR
Score™
6.3% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
19.5x P/Sales
ratio
4.2x
P/BV
ratio
5.2x Div.
yield
2.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Fidelity Quality Factor ETF tracks an index of fundamentally- selected large and mid- cap US companies that are weighted according to a tiered scheme.

FUND BASICS
Category US Equities
Fund Sponsor Fidelity
Website screener.fidelity.com
Inception date Sep 12, 2016
Assets (mns) $145
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 124
Wgt avg mkt cap (mns) $370,832
Large cap (>$10bn) 91.8%
Mid cap ($2-10bn) 8.2%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 6.1 %
MICROSOFT CORP 5.4 %
ALPHABET INC. CLASS A 3.2 %
FACEBOOK 2.4 %
JOHNSON & JOHNSON 2.0 %
HOME DEPOT INC 1.8 %
VISA INC-CLASS A SHARES 1.7 %
UNITEDHEALTH GROUP INC 1.6 %
NVIDIA CORP 1.6 %
MASTERCARD INC-CLASS A 1.5 %
Total 27.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.3 %
BRITAIN 1.4 %
IRELAND 1.1 %
BERMUDA 0.7 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
9.3% 19.4% -- -- 14.5%

Market Correlations
versus... Beta R-squared
S&P500 0.96 99%
MSCI EAFE 0.95 82%
MSCI Emg. Mkts. 0.68 66%

Technical Indicators
Recent close $38.14
30d moving avg. $39.75
Annualized volatility 16.9%
Short interest (ETF) 0.1%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 25
Turnover 0.7%
Bid/Ask (% of price) 0.16%
ADV underlying (mns) $4,783

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: FQAL Expense: 29 bp ALTAR Score™: 6.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FQAL
Ticker Fund
Name
Overlap1
vs FQAL
(%)
Expense
ratio
(bp)
Savings
vs FQAL
(bp)
ALTAR
Score™
(%)
ALTAR
vs FQAL
(%)
JQUA JPMorgan U.S. Quality Factor ETF 51.4 12 17 5.7 -0.6
OEF iShares S&P 100 ETF 50.8 20 9 5.9 -0.4
BKLC BNY Mellon US Large Cap Core Equity ETF 50.2 0 29 6.1 -0.2
IWL iShares Russell Top 200 ETF 49.6 15 14 5.9 -0.5
XLG Invesco S&P 500 Top 50 ETF 49.1 20 9 6.0 -0.3
FLQL Franklin LibertyQ U.S. Equity ETF 48.8 15 14 6.4 +0.1
MGC Vanguard Mega Cap Index Fund 48.6 7 22 6.0 -0.3
SPXN ProShares S&P 500 Ex-Financials ETF 48.2 27 2 5.9 -0.4
SNPE Xtrackers S&P 500 ESG ETF 47.6 10 19 6.1 -0.2
FVAL Fidelity Value Factor ETF 47.3 29 0 8.6 +2.3
DLN WisdomTree U.S. LargeCap Dividend Fund 46.5 28 1 7.1 +0.7
PBP Invesco S&P 500 BuyWrite ETF 46.5 49 -20 5.6 -0.7
SPY SPDR S&P 500 ETF Trust 46.4 9 20 6.1 -0.2
EPS WisdomTree U.S. Earnings 500 Fund 46.4 8 21 7.2 +0.9
SPLG SPDR Portfolio Large Cap ETF 46.0 3 26 6.2 -0.1
VOO VANGUARD S&P 500 ETF 45.9 3 26 6.2 -0.2
RECS Columbia Research Enhanced Core ETF 45.7 15 14 6.6 +0.3
IVV iShares Core S&P 500 ETF 45.7 3 26 6.2 -0.2
HSPX Global X S&P 500 Covered Call ETF 45.7 60 -31 5.6 -0.7
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 45.6 15 14 6.9 +0.6
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 45.6 20 9 5.7 -0.6
FDLO Fidelity Low Volatility Factor ETF 45.6 29 0 5.2 -1.1
QLC FlexShares US Quality Large Cap Index Fund 45.5 32 -3 6.0 -0.3
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 45.4 20 9 6.1 -0.2
IQSU IQ Candriam ESG US Equity ETF 45.4 9 20 6.3 -0.1
SPXE ProShares S&P 500 Ex-Energy ETF 45.3 27 2 6.1 -0.2
FDMO Fidelity Momentum Factor ETF 45.3 29 0 4.2 -2.1
DIVB iShares U.S. Dividend & Buyback ETF 45.2 25 4 7.2 +0.9
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 45.0 7 22 6.0 -0.3
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 45.0 19 10 6.8 +0.5
SPXV ProShares S&P 500 Ex-Health Care ETF 44.7 27 2 5.9 -0.5
XOUT GraniteShares XOUT U.S. Large Cap ETF 44.1 60 -31 5.5 -0.8
QUS SPDR MSCI USA StrategicFactors ETF 43.9 15 14 6.3 -0.1
PBUS Invesco PureBeta MSCI USA ETF 43.9 4 25 6.0 -0.3
VOOG Vanguard S&P 500 Growth ETF 43.9 10 19 5.9 -0.4
FDRR Fidelity Dividend ETF for Rising Rates 43.6 29 0 7.8 +1.5
DTD WisdomTree U.S.Total Dividend Fund 43.6 28 1 7.2 +0.9
VV Vanguard Large-Cap Index Fund 43.5 4 25 5.9 -0.4
SCHX Schwab U.S. Large-Cap ETF 43.4 3 26 6.0 -0.4
ESGU iShares MSCI USA ESG Optimized ETF 43.3 15 14 5.8 -0.5
SPTM SPDR Portfolio Total Stock Market ETF 43.3 3 26 6.2 -0.1
IVW iShares S&P 500 Growth ETF 43.2 18 11 5.8 -0.5
ESGV Vanguard ESG U.S. Stock ETF 43.0 12 17 5.9 -0.4
SPYG SPDR Portfolio S&P 500 Growth ETF 42.9 4 25 6.0 -0.3
CATH Global X S&P 500 Catholic Values Custom ETF 42.9 29 0 6.0 -0.4
MMTM SPDR S&P 1500 Momentum Tilt ETF 42.8 12 17 6.3 +0.0
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 42.7 49 -20 5.8 -0.6
WOMN Impact Shares YWCA Women's Empowerment ETF 42.6 75 -46 5.2 -1.1
NACP Impact Shares NAACP Minority Empowerment ETF 42.5 75 -46 5.7 -0.6
IUSG iShares Core S&P US Growth ETF 42.5 4 25 5.9 -0.4
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 42.4 10 19 5.4 -1.0
SUSL iShares ESG MSCI USA Leaders ETF 42.3 10 19 5.3 -1.0
DSI iShares MSCI KLD 400 Social ETF 42.1 25 4 5.1 -1.2
SCHK Schwab 1000 Index ETF 42.0 5 24 5.9 -0.4
QDEF FlexShares Quality Dividend Defensive Index Fund 42.0 37 -8 7.1 +0.7
IWB iShares Russell 1000 ETF 41.9 15 14 5.8 -0.5
ESG FlexShares STOXX US ESG Impact Index Fund 41.9 32 -3 5.8 -0.6
OUSA O'Shares FTSE US Quality Dividend ETF 41.8 48 -19 6.6 +0.3
IYY iShares Dow Jones U.S. ETF 41.8 20 9 5.8 -0.5
IWY iShares Russell Top 200 Growth ETF 41.3 20 9 6.2 -0.1
VONE Vanguard Russell 1000 ETF 41.3 8 21 5.8 -0.5
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 40.9 9 20 6.3 -0.1
MGK Vanguard Mega Cap Growth ETF 40.7 7 22 6.2 -0.1
IWF iShares Russell 1000 Growth ETF 40.6 19 10 5.7 -0.7
BBUS JP Morgan Betabuilders U.S. Equity ETF 40.6 2 27 6.0 -0.3
DSTL Distillate US Fundamental Stability & Value ETF 40.4 39 -10 7.0 +0.7
VTHR Vanguard Russell 3000 Index Fund 40.3 10 19 5.7 -0.6
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 40.3 12 17 5.1 -1.2
SPQQ Siren Large Cap Blend Index ETF 40.2 20 9 5.3 -1.1
VONG Vanguard Russell 1000 Growth Index Fund 40.0 8 21 5.8 -0.5
SCHB Schwab U.S. Broad Market ETF 39.9 3 26 5.8 -0.5
ITOT iShares Core S&P Total U.S. Stock Market ETF 39.8 3 26 5.8 -0.5
QUAL iShares MSCI Usa Quality Factor ETF 39.8 15 14 6.0 -0.3
AFLG First Trust Active Factor Large Cap ETF 39.7 55 -26 6.4 +0.1
EXT WisdomTree U.S. Total Earnings Fund 39.7 28 1 6.2 -0.1
IWV iShares Russell 3000 ETF 39.5 20 9 5.6 -0.7
VEGN US Vegan Climate ETF 39.4 60 -31 5.8 -0.5
DGRO iShares Core Dividend Growth ETF 39.1 8 21 7.0 +0.7
VUG Vanguard Growth Index Fund 39.0 4 25 5.7 -0.7
FCPI Fidelity Stocks for Inflation ETF 38.8 29 0 6.9 +0.6
QDYN FlexShares Quality Dividend Dynamic Index Fund 38.4 37 -8 7.1 +0.8
QDF FlexShares Quality Dividend Index Fund 38.4 37 -8 7.0 +0.7
VTI Vanguard Total Stock Market Index Fund 37.9 3 26 5.7 -0.6
PFM Invesco Dividend Achievers ETF 37.7 53 -24 5.4 -0.9
SFY SoFi Select 500 ETF 37.0 0 29 5.7 -0.7
EQWL Invesco Russell Top 200 Equal Weight ETF 36.9 25 4 6.3 -0.0
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 36.5 75 -46 4.2 -2.1
IUS Invesco Strategic US ETF 35.9 19 10 7.2 +0.8
ACIO Aptus Collared Income Opportunity ETF 35.9 79 -50 5.1 -1.2
DGRW WisdomTree U.S. Quality Dividend Growth Fund 35.8 28 1 7.4 +1.1
ADME Aptus Drawdown Managed Equity ETF 35.6 79 -50 4.3 -2.0
SPHQ Invesco S&P 500 Quality ETF 35.6 15 14 5.3 -1.0
USDY Pacific Global US Equity Income ETF 35.3 29 0 7.3 +1.0
SCHG Schwab U.S. Large-Cap Growth ETF 35.2 4 25 5.6 -0.7
FNDX Schwab Fundamental U.S. Large Co. Index ETF 35.1 25 4 7.4 +1.1
SPXT ProShares S&P 500 Ex-Technology ETF 35.1 27 2 5.6 -0.7
JHML John Hancock Multifactor Large Cap ETF 35.1 29 0 6.0 -0.3
SUSA iShares MSCI USA ESG Select ETF 35.0 25 4 5.4 -0.9
KRMA Global X Conscious Companies ETF 34.6 43 -14 5.9 -0.4
RFDA RiverFront Dynamic US Dividend Advantage ETF 34.6 52 -23 5.7 -0.7

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 Quality Factor 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 29.9 %
Divided by: Fwd. P/BV 4.5 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 6.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 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.