Fidelity Quality Factor ETF
ALTAR
Score™
5.1% info Recommen-
dation
NEUTRAL
2021E    2022E
P/E
ratio
20.6x P/Sales
ratio
4.0x
P/BV
ratio
5.3x Div.
yield
1.8%


  • 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) $172
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 125
Wgt avg mkt cap (mns) $399,858
Large cap (>$10bn) 94.3%
Mid cap ($2-10bn) 5.7%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 5.8 %
MICROSOFT CORP 5.3 %
ALPHABET INC. CLASS A 3.7 %
FACEBOOK 2.1 %
JOHNSON & JOHNSON 1.6 %
VISA INC-CLASS A SHARES 1.6 %
HOME DEPOT INC 1.5 %
NVIDIA CORP 1.5 %
MASTERCARD INC-CLASS A 1.5 %
UNITEDHEALTH GROUP INC 1.4 %
Total 26.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.0 %
BRITAIN 1.5 %
IRELAND 1.0 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 28)
Year-to-date 1 year 5 years 10 years Since Incep.
1.1% 25.8% -- -- 14.6%

Market Correlations
versus... Beta R-squared
S&P500 0.97 99%
MSCI EAFE 0.89 82%
MSCI Emg. Mkts. 0.71 64%

Technical Indicators
Recent close $43.46
30d moving avg. $44.09
Annualized volatility 18.1%
Short interest (ETF) 1.1%
Short interest (Underlying) 1.6%
Relative strength (RSI) 50

Liquidity measures
Avg. volume (thou.) 21
Turnover 0.5%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $90,080

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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™: 5.1%


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
(%)
ESGV Vanguard ESG U.S. Stock ETF 53.8 12 17 4.7 -0.4
FDLO Fidelity Low Volatility Factor ETF 51.5 29 0 4.7 -0.4
JCTR JPMorgan Carbon Transition U.S. Equity ETF 50.9 15 14 5.0 -0.1
JQUA JPMorgan U.S. Quality Factor ETF 50.9 12 17 5.3 +0.3
OEF iShares S&P 100 ETF 50.8 20 9 4.5 -0.5
MGC Vanguard Mega Cap Index Fund 49.9 7 22 4.8 -0.2
IWL iShares Russell Top 200 ETF 49.8 15 14 4.7 -0.4
BKLC BNY Mellon US Large Cap Core Equity ETF 49.4 0 29 4.8 -0.3
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 48.9 15 14 0.0 -5.1
EFIV SPDR S&P 500 ESG ETF 48.4 10 19 4.9 -0.2
FLRG Fidelity U.S. Multifactor ETF 48.4 29 0 6.0 +0.9
SNPE Xtrackers S&P 500 ESG ETF 48.4 10 19 4.9 -0.2
SPXN ProShares S&P 500 Ex-Financials ETF 47.9 27 2 4.5 -0.6
XLG Invesco S&P 500 Top 50 ETF 47.8 20 9 4.4 -0.7
FVAL Fidelity Value Factor ETF 47.5 29 0 6.7 +1.7
IQSU IQ Candriam ESG US Equity ETF 46.9 9 20 4.8 -0.3
EPS WisdomTree U.S. Earnings 500 Fund 46.3 8 21 6.2 +1.1
FLQL Franklin LibertyQ U.S. Equity ETF 46.1 15 14 6.1 +1.0
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 46.0 20 9 5.0 -0.1
PBP Invesco S&P 500 BuyWrite ETF 45.8 49 -20 4.5 -0.6
XYLG Global X S&P 500 Covered Call & Growth ETF 45.5 60 -31 4.5 -0.6
SPY SPDR S&P 500 ETF Trust 45.5 9 20 4.9 -0.2
IVV iShares Core S&P 500 ETF 45.5 3 26 4.9 -0.1
SPLG SPDR Portfolio Large Cap ETF 45.4 3 26 4.9 -0.1
FDRR Fidelity Dividend ETF for Rising Rates 45.4 29 0 6.5 +1.4
SPXE ProShares S&P 500 Ex-Energy ETF 45.1 27 2 4.8 -0.2
DLN WisdomTree U.S. LargeCap Dividend Fund 45.1 28 1 6.4 +1.3
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 44.9 20 9 4.8 -0.3
VOO VANGUARD S&P 500 ETF 44.9 3 26 4.9 -0.1
VOOG Vanguard S&P 500 Growth ETF 44.9 10 19 4.0 -1.1
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 44.7 49 -20 3.9 -1.2
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 44.6 7 22 4.8 -0.3
NACP Impact Shares NAACP Minority Empowerment ETF 44.5 49 -20 4.6 -0.5
QUS SPDR MSCI USA StrategicFactors ETF 44.1 15 14 5.5 +0.4
XVV iShares ESG Screened S&P 500 ETF 44.0 8 21 5.0 -0.1
DIVB iShares U.S. Dividend & Buyback ETF 43.8 25 4 6.0 +0.9
VV Vanguard Large-Cap Index Fund 43.7 4 25 4.8 -0.3
BBUS JP Morgan Betabuilders U.S. Equity ETF 43.6 2 27 4.8 -0.2
ESGU iShares MSCI USA ESG Optimized ETF 43.6 15 14 4.7 -0.4
XOUT GraniteShares XOUT U.S. Large Cap ETF 43.4 60 -31 3.8 -1.3
QUAL iShares MSCI Usa Quality Factor ETF 43.4 15 14 5.1 +0.1
PBUS Invesco PureBeta MSCI USA ETF 43.3 4 25 4.8 -0.2
OUSA O'Shares FTSE US Quality Dividend ETF 43.2 48 -19 5.8 +0.7
SPYG SPDR Portfolio S&P 500 Growth ETF 43.2 4 25 4.1 -1.0
IVW iShares S&P 500 Growth ETF 43.2 18 11 3.9 -1.1
RECS Columbia Research Enhanced Core ETF 42.8 15 14 5.5 +0.5
QLC FlexShares US Quality Large Cap Index Fund 42.8 32 -3 4.9 -0.2
SPXV ProShares S&P 500 Ex-Health Care ETF 42.8 27 2 4.5 -0.6
SUSL iShares ESG MSCI USA Leaders ETF 42.7 10 19 5.0 -0.0
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 42.7 10 19 5.0 -0.0
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 42.3 19 10 5.3 +0.2
DTD WisdomTree U.S.Total Dividend Fund 42.3 28 1 6.4 +1.3
IWY iShares Russell Top 200 Growth ETF 42.2 20 9 3.9 -1.1
DSI iShares MSCI KLD 400 Social ETF 42.1 25 4 4.7 -0.4
SCHX Schwab U.S. Large-Cap ETF 42.1 3 26 4.8 -0.3
SPTM SPDR Portfolio Total Stock Market ETF 41.9 3 26 5.0 -0.1
IUSG iShares Core S&P US Growth ETF 41.8 4 25 4.0 -1.0
WOMN Impact Shares YWCA Women's Empowerment ETF 41.5 75 -46 4.5 -0.6
ESG FlexShares STOXX US ESG Impact Index Fund 41.4 32 -3 4.8 -0.3
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 41.4 9 20 5.1 +0.1
IWF iShares Russell 1000 Growth ETF 41.2 19 10 3.8 -1.3
IWB iShares Russell 1000 ETF 41.2 15 14 4.7 -0.4
SCHK Schwab 1000 Index ETF 40.6 5 24 4.7 -0.4
IYY iShares Dow Jones U.S. ETF 40.6 20 9 4.6 -0.5
VONG Vanguard Russell 1000 Growth Index Fund 40.2 8 21 3.9 -1.2
CATH Global X S&P 500 Catholic Values Custom ETF 40.0 29 0 4.7 -0.4
EQWL Invesco Russell Top 200 Equal Weight ETF 39.9 25 4 5.8 +0.7
MGK Vanguard Mega Cap Growth ETF 39.7 7 22 3.8 -1.2
KRMA Global X Conscious Companies ETF 39.6 43 -14 5.1 +0.0
VONE Vanguard Russell 1000 ETF 39.6 8 21 4.7 -0.3
ACVF American Conservative Values ETF 39.3 75 -46 4.4 -0.7
VUG Vanguard Growth Index Fund 39.2 4 25 3.7 -1.4
MMTM SPDR S&P 1500 Momentum Tilt ETF 39.2 12 17 4.2 -0.8
SUSA iShares MSCI USA ESG Select ETF 39.1 25 4 4.5 -0.6
QDEF FlexShares Quality Dividend Defensive Index Fund 38.8 37 -8 5.7 +0.7
DGRW WisdomTree U.S. Quality Dividend Growth Fund 38.6 28 1 6.3 +1.2
VTHR Vanguard Russell 3000 Index Fund 38.6 10 19 4.6 -0.5
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 38.6 12 17 5.1 +0.1
QDF FlexShares Quality Dividend Index Fund 38.6 37 -8 5.7 +0.6
SFY SoFi Select 500 ETF 38.5 0 29 4.8 -0.3
ACIO Aptus Collared Income Opportunity ETF 38.4 79 -50 4.0 -1.0
IWV iShares Russell 3000 ETF 38.4 20 9 4.5 -0.6
QDYN FlexShares Quality Dividend Dynamic Index Fund 38.4 37 -8 5.7 +0.7
SCHB Schwab U.S. Broad Market ETF 38.1 3 26 4.6 -0.4
DGRO iShares Core Dividend Growth ETF 38.0 8 21 6.3 +1.3
ITOT iShares Core S&P Total U.S. Stock Market ETF 37.8 3 26 4.6 -0.5
RESP WisdomTree US ESG Fund of Benef Interest 37.8 28 1 5.5 +0.4
SPHQ Invesco S&P 500 Quality ETF 37.7 15 14 4.7 -0.4
SPQQ Siren Large Cap Blend Index ETF 37.4 20 9 4.0 -1.1
FDMO Fidelity Momentum Factor ETF 37.1 29 0 2.9 -2.2
VTI Vanguard Total Stock Market Index Fund 37.0 3 26 4.6 -0.5
HIPR Direxion High Growth ETF 37.0 40 -11 4.2 -0.8
DFAU Dimensional US Core Equity Market ETF 36.8 12 17 4.9 -0.2
PFM Invesco Dividend Achievers ETF 36.8 53 -24 5.2 +0.1
VEGN US Vegan Climate ETF 36.3 60 -31 4.1 -1.0
VOOV Vanguard S&P 500 Value ETF 35.6 10 19 6.2 +1.1
SPXT ProShares S&P 500 Ex-Technology ETF 35.4 27 2 5.1 +0.0
STLC iShares Factors US Blend Style ETF 35.4 25 4 5.6 +0.5
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 35.1 30 -1 5.2 +0.1

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

  2016 2017 2018 2019 2020 2021E 2022E
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
  2020 2021E 2022E
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 27.6 %
Divided by: Fwd. P/BV 5.2 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 5.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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