Fidelity MSCI Utilities Index ETF
ALTAR
Score™
6.3% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
16.6x P/Sales
ratio
2.2x
P/BV
ratio
1.8x Div.
yield
3.9%


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

FUND BASICS
Category US Equities
Fund Sponsor FMR LLC
Website www.fidelity.com
Inception date Oct 24, 2013
Assets (mns) $755
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 No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 65
Wgt avg mkt cap (mns) $40,422
Large cap (>$10bn) 82.9%
Mid cap ($2-10bn) 15.9%
Small cap (<$2bn) 1.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NEXTERA ENERGY GROUP 13.4 %
DOMINION RESOURCES INC/VA 6.8 %
DUKE ENERGY CORP 6.8 %
SOUTHERN CO 6.5 %
AMERICAN ELECTRIC POWER 4.5 %
EXELON CORP 4.1 %
SEMPRA ENERGY 3.6 %
XCEL ENERGY INC 3.6 %
WEC ENERGY GROUP INC 3.2 %
CONSOLIDATED EDISON INC 3.0 %
Total 55.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.4 %










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.
-14.3% -3.3% 8.0% -- 9.3%

Market Correlations
versus... Beta R-squared
S&P500 0.49 30%
MSCI EAFE 0.49 30%
MSCI Emg. Mkts. 0.31 17%

Technical Indicators
Recent close $34.73
30d moving avg. $38.73
Annualized volatility 13.5%
Short interest (ETF) 0.2%
Short interest (Underlying) 2.6%
Relative strength (RSI) 38

Liquidity measures
Avg. volume (thou.) 586
Turnover 2.7%
Bid/Ask (% of price) 0.22%
ADV underlying (mns) $9,058

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: FUTY Expense: 8 bp ALTAR Score™: 6.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FUTY
Ticker Fund
Name
Overlap1
vs FUTY
(%)
Expense
ratio
(bp)
Savings
vs FUTY
(bp)
ALTAR
Score™
(%)
ALTAR
vs FUTY
(%)
IDU iShares U.S. Utilities ETF 95.9 43 -35 6.1 -0.3
VPU Vanguard Utilities Index Fund 92.9 10 -2 6.2 -0.1
XLU Utilities Select Sector SPDR Fund 87.1 13 -5 6.3 +0.0
JHMU John Hancock Multifactor Utilities ETF 72.5 40 -32 6.6 +0.3
RYU Invesco S&P 500 Equal Weight Utilities ETF 67.1 40 -32 6.5 +0.2
JXI iShares Global Utilities ETF 61.3 46 -38 6.6 +0.3
UTES Virtus Reaves Utilities ETF 48.6 49 -41 5.4 -0.9
FXU First Trust Utilities AlphaDEX Fund 44.0 63 -55 6.5 +0.2
PUI Invesco DWA Utilities Momentum ETF 43.6 60 -52 5.1 -1.2
ECLN First Trust EIP Carbon Impact ETF 37.0 95 -87 4.4 -1.9
GII SPDR S&P Global Infrastructure ETF 36.1 40 -32 6.7 +0.4
IGF iShares Global Infrastructure ETF 35.9 46 -38 6.7 +0.4
IFRA iShares U.S. Infrastructure ETF 33.2 40 -32 7.6 +1.3
EMLP First Trust North American Energy Infrastructure Fund 31.8 95 -87 7.4 +1.1
DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF 28.8 60 -52 6.3 -0.1
DVY iShares Select Dividend ETF 28.3 39 -31 10.9 +4.6
LVHD Legg Mason Low Volatility High Dividend ETF 28.3 27 -19 8.6 +2.3
SPLV Invesco S&P 500 Low Volatility ETF 28.3 25 -17 6.7 +0.4
NLR VanEck Vectors Uranium+Nuclear Energy ETF 24.0 60 -52 10.4 +4.1
TPHD Timothy Plan High Dividend Stock ETF 22.9 52 -44 9.4 +3.1
INFR Legg Mason Global Infrastructure ETF 21.2 40 -32 7.1 +0.8
JDIV JPMorgan U.S. Dividend ETF 19.4 12 -4 10.7 +4.4
FVD First Trust Value Line Dividend Index Fund 19.0 70 -62 8.0 +1.7
PEY Invesco High Yield Equity Dividend Achievers ETF 18.8 53 -45 9.8 +3.5
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 17.9 46 -38 6.6 +0.3
JMIN JPMorgan U.S. Minimum Volatility ETF 17.8 12 -4 7.2 +0.8
DDIV First Trust Dorsey Wright Momentum & Dividend ETF 17.1 60 -52 9.6 +3.3
RBUS Nationwide Risk-Based U.S. Equity ETF 17.0 30 -22 7.2 +0.9
JKI iShares Morningstar Mid-Cap Value ETF 16.9 30 -22 13.5 +7.2
CDL Victory CEMP US Large Cap High Dividend Volatility Wtd Idx E 16.8 35 -27 11.3 +5.0
GLIF AGFiQ Global Infrastructure ETF 16.5 45 -37 6.1 -0.2
VOE Vanguard Mid-Cap Value Index Fund 16.1 7 1 10.8 +4.5
SCIU Global X Scientific Beta US ETF 15.6 19 -11 7.6 +1.3
PMOM Principal Sustainable Momentum Index ETF 15.6 29 -21 7.2 +0.8
LSLT Salt Low truBeta US Market ETF 15.0 0 8 8.5 +2.2
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 14.3 30 -22 11.9 +5.6
IWS iShares Russell Mid-Cap Value ETF 13.3 24 -16 10.0 +3.7
MTUM iShares Edge MSCI USA Momentum Factor ETF 12.8 15 -7 5.7 -0.6
RDIV Invesco S&P Ultra Dividend Revenue ETF 12.7 39 -31 15.1 +8.8
ACSI American Customer Satisfaction Core Alpha ETF 12.7 66 -58 7.4 +1.1
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 12.6 47 -39 7.8 +1.5
BIBL Inspire ETF 12.5 35 -27 6.2 -0.1
DHS WisdomTree U.S. High Dividend Fund 12.1 38 -30 10.5 +4.2
DWEQ AdvisorShares Dorsey Wright Alpha Equal Weight ETF 12.1 99 -91 4.5 -1.8
AMCA iShares Russell 1000 Pure U.S. Revenue ETF 11.9 15 -7 8.9 +2.6
JPUS JPMorgan Diversified Return U.S. Equity ETF 11.8 19 -11 8.3 +2.0
XKCP SPDR Kensho Clean Power ETF 11.4 45 -37 -14.9 -21.2
TPLC Timothy Plan US Large Cap Core ETF 11.4 52 -44 7.3 +1.0
DON WisdomTree U.S. MidCap Dividend Fund 11.2 38 -30 11.0 +4.7
ESGS Columbia Sustainable U.S. Equity Income ETF 11.2 35 -27 12.1 +5.8
FTA First Trust Large Cap Value AlphaDEX Fund 11.1 60 -52 12.1 +5.8
DTN WisdomTree U.S. Dividend ex-Financials Fund 11.1 38 -30 10.2 +3.9
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 10.4 24 -16 8.3 +2.0
KLCD KFA Large Cap Quality Dividend Index ETF 10.4 41 -33 6.6 +0.3
SPYD SPDR S&P 500 High Dividend ETF 10.1 7 1 14.3 +8.0
AUSF Global X Adaptive U.S. Factor ETF 9.4 27 -19 10.5 +4.2
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 9.4 35 -27 7.6 +1.3
VYM Vanguard High Dividend Yield Index ETF 9.3 6 2 8.9 +2.6
ONEV SPDR Russell 1000 Low Volatility Focus ETF 9.3 20 -12 9.5 +3.2
SPDV AAM S&P 500 High Dividend Value ETF 9.3 29 -21 14.5 +8.2
HDV iShares Core High Dividend ETF 9.3 8 0 8.1 +1.8
SPMO Invesco S&P 500 Momentum ETF 9.2 13 -5 5.3 -1.0
USMV iShares Edge MSCI Min Vol USA ETF 9.2 15 -7 6.8 +0.5
GBDV Global Beta Smart Income ETF 9.1 29 -21 16.2 +9.9
MXDU Nationwide Maximum Diversification US Core Equity ETF 9.1 34 -26 6.8 +0.5
VETS Pacer Military Times Best Employers ETF 9.1 60 -52 8.5 +2.2
SDOG ALPS Sector Dividend Dogs ETF 9.0 40 -32 13.9 +7.6
DIV Global X SuperDividend US ETF 9.0 45 -37 15.1 +8.8
PWV Invesco Dynamic Large Cap Value ETF 8.9 55 -47 10.6 +4.3
EQAL Invesco Russell 1000 Equal Weight ETF 8.8 20 -12 7.6 +1.3
SPMV Invesco S&P 500 Minimum Variance ETF 8.8 10 -2 7.3 +1.0
LRGF iShares Edge MSCI Multifactor USA ETF 8.7 20 -12 9.0 +2.7
SDY SPDR S&P Dividend ETF 8.3 35 -27 8.2 +1.9
MAGA Point Bridge GOP Stock Tracker ETF 8.3 72 -64 9.4 +3.1
FDL First Trust Morningstar Dividend Leaders Index Fund 8.2 45 -37 10.9 +4.6
CFA Victory CEMP US 500 Volatility Weighted Index ETF 8.1 35 -27 8.1 +1.8
ACWV iShares Edge MSCI Min Vol Global ETF 8.0 20 -12 6.7 +0.4
PFM Invesco Dividend Achievers ETF 7.9 54 -46 6.4 +0.1
IWD iShares Russell 1000 Value ETF 7.7 19 -11 9.1 +2.8
SYV SPDR MFS Systematic Value Equity ETF 7.6 60 -52 9.8 +3.5
IWR iShares Russell Midcap ETF 7.5 19 -11 8.0 +1.7
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 7.5 17 -9 9.0 +2.7
VALQ American Century STOXX U.S. Quality Value ETF 7.5 29 -21 11.5 +5.2
DURA VanEck Vectors Morningstar Durable Dividend ETF 7.4 29 -21 8.4 +2.1
RFDA RiverFront Dynamic US Dividend Advantage ETF 7.4 52 -44 7.9 +1.6
VO Vanguard Mid-Cap Index Fund 7.4 4 4 7.7 +1.4
FAB First Trust Multi Cap Value AlphaDEX Fund 7.3 71 -63 13.3 +7.0
VONV Vanguard Russell 1000 Value Index Fund 7.3 8 0 9.3 +3.0
IUSV iShares Core S&P U.S. Value ETF 7.2 4 4 9.4 +3.1
SPYV SPDR Portfolio S&P 500 Value ETF 7.1 4 4 9.2 +2.9
IVE iShares S&P 500 Value ETF 7.1 18 -10 9.1 +2.8
VBR Vanguard Small Cap Value Index Fund 7.1 7 1 12.0 +5.7
DYNF BlackRock U.S. Equity Factor Rotation ETF 7.1 30 -22 8.1 +1.8
FLQL Franklin LibertyQ U.S. Equity ETF 7.0 15 -7 8.0 +1.7
VTV Vanguard Value Index Fund 6.9 4 4 9.1 +2.8
FCTR First Trust Lunt U.S. Factor Rotation ETF 6.9 65 -57 4.4 -1.9
JKF iShares Morningstar Large Cap Value ETF 6.8 25 -17 9.5 +3.2
XMLV Invesco S&P MidCap Low Volatility ETF 6.8 25 -17 8.1 +1.8
VFVA Vanguard U.S. Value Factor ETF 6.7 13 -5 16.5 +10.2
FEX First Trust Large Cap Core AlphaDEX Fund 6.7 60 -52 8.1 +1.8

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

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 11.4 %
Divided by: Fwd. P/BV 1.8 x
Less: Expense ratio 8 bp
Equals: ALTAR Score 6.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.63 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.