Fidelity Value Factor ETF
ALTAR
Score™
7.5% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
17.7x P/Sales
ratio
1.5x
P/BV
ratio
2.4x Div.
yield
2.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Fidelity Factor Value ETF follows a fundamentally selected, tier-weighted index of large-cap US stocks.

FUND BASICS
Category US Equities
Fund Sponsor Fidelity
Website screener.fidelity.com
Inception date Sep 12, 2016
Assets (mns) $223
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) $454,642
Large cap (>$10bn) 90.4%
Mid cap ($2-10bn) 9.6%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 6.6 %
MICROSOFT CORP 5.6 %
AMAZON.COM INC 4.5 %
ALPHABET INC. CLASS A 3.4 %
FACEBOOK 2.5 %
JOHNSON & JOHNSON 1.8 %
BERKSHIRE HATHAWAY INC-CL B 1.8 %
VISA INC-CLASS A SHARES 1.7 %
UNITEDHEALTH GROUP INC 1.7 %
PROCTER & GAMBLE CO/THE 1.6 %
Total 31.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.9 %
IRELAND 1.1 %
ISRAEL 0.7 %
CHINA 0.5 %
BRITAIN 0.3 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-4.7% 5.8% -- -- 10.8%

Market Correlations
versus... Beta R-squared
S&P500 1.11 96%
MSCI EAFE 1.15 86%
MSCI Emg. Mkts. 0.83 71%

Technical Indicators
Recent close $36.55
30d moving avg. $36.05
Annualized volatility 20.0%
Short interest (ETF) 1.8%
Relative strength (RSI) 51

Liquidity measures
Avg. volume (thou.) 47
Turnover 0.8%
Bid/Ask (% of price) 0.33%
ADV underlying (mns) $97,476

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: FVAL Expense: 29 bp ALTAR Score™: 7.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FVAL
Ticker Fund
Name
Overlap1
vs FVAL
(%)
Expense
ratio
(bp)
Savings
vs FVAL
(bp)
ALTAR
Score™
(%)
ALTAR
vs FVAL
(%)
OEF iShares S&P 100 ETF 53.4 20 9 4.6 -2.9
EPS WisdomTree U.S. Earnings 500 Fund 52.0 8 21 6.3 -1.3
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 50.3 15 14 6.1 -1.5
IWL iShares Russell Top 200 ETF 50.1 15 14 4.8 -2.8
BKLC BNY Mellon US Large Cap Core Equity ETF 50.0 0 29 4.9 -2.6
MGC Vanguard Mega Cap Index Fund 49.9 7 22 5.0 -2.6
HSPX Global X S&P 500 Covered Call ETF 48.8 60 -31 4.8 -2.8
PBP Invesco S&P 500 BuyWrite ETF 48.6 49 -20 4.8 -2.8
XYLG Global X S&P 500 Covered Call & Growth ETF 47.7 60 -31 4.8 -2.7
FQAL Fidelity Quality Factor ETF 47.4 29 0 5.3 -2.3
SPY SPDR S&P 500 ETF Trust 47.3 9 20 5.1 -2.4
SPLG SPDR Portfolio Large Cap ETF 47.3 3 26 5.2 -2.4
SPXN ProShares S&P 500 Ex-Financials ETF 47.3 27 2 4.8 -2.8
IVV iShares Core S&P 500 ETF 47.2 3 26 5.2 -2.4
NACP Impact Shares NAACP Minority Empowerment ETF 47.2 75 -46 4.7 -2.9
XLG Invesco S&P 500 Top 50 ETF 47.1 20 9 4.3 -3.2
EFIV SPDR S&P 500 ESG ETF 47.1 10 19 4.9 -2.7
SNPE Xtrackers S&P 500 ESG ETF 47.1 10 19 4.9 -2.7
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 46.7 20 9 4.7 -2.8
VOO VANGUARD S&P 500 ETF 46.7 3 26 5.2 -2.3
SPXE ProShares S&P 500 Ex-Energy ETF 46.6 27 2 5.1 -2.5
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 46.5 20 9 5.1 -2.4
SPXV ProShares S&P 500 Ex-Health Care ETF 45.8 27 2 4.8 -2.8
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 45.7 7 22 5.0 -2.6
DLN WisdomTree U.S. LargeCap Dividend Fund 45.3 28 1 6.3 -1.2
BBUS JP Morgan Betabuilders U.S. Equity ETF 44.9 2 27 5.0 -2.5
ESGU iShares MSCI USA ESG Optimized ETF 44.7 15 14 4.9 -2.7
ESG FlexShares STOXX US ESG Impact Index Fund 44.4 32 -3 4.9 -2.6
VV Vanguard Large-Cap Index Fund 44.2 4 25 5.0 -2.5
QLC FlexShares US Quality Large Cap Index Fund 44.2 32 -3 5.0 -2.5
IQSU IQ Candriam ESG US Equity ETF 44.2 9 20 4.9 -2.7
FLRG Fidelity U.S. Multifactor ETF 44.1 29 0 6.2 -1.3
PBUS Invesco PureBeta MSCI USA ETF 44.1 4 25 5.0 -2.5
CATH Global X S&P 500 Catholic Values Custom ETF 44.0 29 0 4.9 -2.6
SPTM SPDR Portfolio Total Stock Market ETF 44.0 3 26 5.3 -2.2
FDRR Fidelity Dividend ETF for Rising Rates 43.9 29 0 6.7 -0.9
EXT WisdomTree U.S. Total Earnings Fund 43.9 28 1 5.3 -2.2
IUS Invesco Strategic US ETF 43.6 19 10 6.3 -1.2
DIVB iShares U.S. Dividend & Buyback ETF 43.4 25 4 6.7 -0.8
XOUT GraniteShares XOUT U.S. Large Cap ETF 43.3 60 -31 4.0 -3.6
RECS Columbia Research Enhanced Core ETF 43.2 15 14 5.5 -2.1
ESGV Vanguard ESG U.S. Stock ETF 43.1 12 17 4.9 -2.7
FNDX Schwab Fundamental U.S. Large Co. Index ETF 43.1 25 4 6.6 -1.0
SCHX Schwab U.S. Large-Cap ETF 43.1 3 26 5.0 -2.6
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 42.7 19 10 5.9 -1.7
IWB iShares Russell 1000 ETF 42.3 15 14 4.9 -2.7
SCHK Schwab 1000 Index ETF 42.2 5 24 5.0 -2.5
DTD WisdomTree U.S.Total Dividend Fund 42.2 28 1 6.6 -1.0
EQWL Invesco Russell Top 200 Equal Weight ETF 41.9 25 4 6.1 -1.4
WOMN Impact Shares YWCA Women's Empowerment ETF 41.8 75 -46 4.2 -3.4
IYY iShares Dow Jones U.S. ETF 41.8 20 9 4.9 -2.7
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 41.5 9 20 5.4 -2.2
VONE Vanguard Russell 1000 ETF 41.3 8 21 5.0 -2.6
PRF Invesco FTSE RAFI US 1000 ETF 40.5 39 -10 6.7 -0.9
SFY SoFi Select 500 ETF 40.5 0 29 5.0 -2.6
VTHR Vanguard Russell 3000 Index Fund 40.3 10 19 4.8 -2.7
MMTM SPDR S&P 1500 Momentum Tilt ETF 40.2 12 17 4.5 -3.0
FNDB Schwab Fundamental U.S. Broad Market Index ETF 39.9 25 4 6.6 -0.9
IWV iShares Russell 3000 ETF 39.9 20 9 4.8 -2.8
SCHB Schwab U.S. Broad Market ETF 39.7 3 26 4.9 -2.6
ITOT iShares Core S&P Total U.S. Stock Market ETF 39.5 3 26 4.9 -2.7
VOOG Vanguard S&P 500 Growth ETF 39.4 10 19 4.1 -3.4
AFLG First Trust Active Factor Large Cap ETF 39.3 55 -26 5.2 -2.3
KRMA Global X Conscious Companies ETF 39.2 43 -14 5.0 -2.6
RWL Invesco S&P 500 Revenue ETF 39.0 39 -10 7.1 -0.5
QUS SPDR MSCI USA StrategicFactors ETF 38.9 15 14 5.7 -1.9
SPYG SPDR Portfolio S&P 500 Growth ETF 38.9 4 25 4.2 -3.4
IVW iShares S&P 500 Growth ETF 38.9 18 11 16.7 +9.2
ACIO Aptus Collared Income Opportunity ETF 38.8 79 -50 4.2 -3.3
IWY iShares Russell Top 200 Growth ETF 38.6 20 9 3.7 -3.8
SPXT ProShares S&P 500 Ex-Technology ETF 38.5 27 2 5.4 -2.1
SYE SPDR MFS Systematic Core Equity ETF 38.5 60 -31 5.5 -2.0
VTI Vanguard Total Stock Market Index Fund 38.1 3 26 4.9 -2.7
IUSG iShares Core S&P US Growth ETF 38.1 4 25 4.2 -3.3
FDMO Fidelity Momentum Factor ETF 37.9 29 0 3.2 -4.4
RAFE PIMCO RAFI ESG U.S. ETF 37.9 29 0 7.5 -0.0
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 37.3 12 17 4.7 -2.9
JVAL JPMorgan U.S. Value Factor ETF 37.1 12 17 8.2 +0.7
FCPI Fidelity Stocks for Inflation ETF 37.0 29 0 6.2 -1.3
VOOV Vanguard S&P 500 Value ETF 37.0 10 19 7.2 -0.3
MGV Vanguard Mega Cap Value ETF 37.0 7 22 7.2 -0.4
OUSA O'Shares FTSE US Quality Dividend ETF 36.9 48 -19 5.7 -1.8
VLU SPDR S&P 1500 Value Tilt ETF 36.8 12 17 7.2 -0.3
AVUS Avantis U.S. Equity ETF 36.4 15 14 5.4 -2.1
VTV Vanguard Value Index Fund 36.2 4 25 7.2 -0.3
HIPR Direxion High Growth ETF 36.2 40 -11 4.4 -3.1
IWF iShares Russell 1000 Growth ETF 36.1 19 10 3.6 -3.9
VONG Vanguard Russell 1000 Growth Index Fund 35.8 8 21 3.7 -3.8
DYNF BlackRock U.S. Equity Factor Rotation ETF 35.8 30 -1 6.4 -1.1
JHML John Hancock Multifactor Large Cap ETF 35.7 29 0 5.3 -2.2
JQUA JPMorgan U.S. Quality Factor ETF 35.7 12 17 5.2 -2.3
DGRW WisdomTree U.S. Quality Dividend Growth Fund 35.7 28 1 6.3 -1.2
SPYV SPDR Portfolio S&P 500 Value ETF 35.6 4 25 7.2 -0.3
IVE iShares S&P 500 Value ETF 35.6 18 11 7.1 -0.4
STLC iShares Factors US Blend Style ETF 35.6 25 4 5.1 -2.4
DSI iShares MSCI KLD 400 Social ETF 35.2 25 4 4.9 -2.6
QDYN FlexShares Quality Dividend Dynamic Index Fund 35.2 37 -8 5.9 -1.6
DGRO iShares Core Dividend Growth ETF 35.2 8 21 6.6 -1.0
RFFC RiverFront Dynamic US Flex-Cap ETF 35.2 52 -23 4.8 -2.7
FDLO Fidelity Low Volatility Factor ETF 35.0 29 0 5.1 -2.5

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 Value Factor 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 17.0 %
Divided by: Fwd. P/BV 2.2 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 7.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.45 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.