Fidelity Value Factor ETF
ALTAR
Score™
6.8% info Recommen-
dation
SPECULATIVE
2021E    2022E
P/E
ratio
16.1x P/Sales
ratio
1.6x
P/BV
ratio
2.5x Div.
yield
1.9%


  • 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) $348
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 126
Wgt avg mkt cap (mns) $483,927
Large cap (>$10bn) 90.8%
Mid cap ($2-10bn) 9.2%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 6.2 %
MICROSOFT CORP 5.4 %
AMAZON.COM INC 3.9 %
ALPHABET INC. CLASS A 3.9 %
FACEBOOK 2.1 %
JOHNSON & JOHNSON 1.8 %
BERKSHIRE HATHAWAY INC-CL B 1.8 %
VISA INC-CLASS A SHARES 1.5 %
INTEL CORP 1.4 %
UNITEDHEALTH GROUP INC 1.4 %
Total 29.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.2 %
IRELAND 1.0 %
ISRAEL 0.6 %
CHINA 0.5 %
BRITAIN 0.4 %






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.
3.7% 26.7% -- -- 14.1%

Market Correlations
versus... Beta R-squared
S&P500 1.11 97%
MSCI EAFE 1.05 85%
MSCI Emg. Mkts. 0.86 71%

Technical Indicators
Recent close $42.13
30d moving avg. $42.18
Annualized volatility 20.8%
Short interest (ETF) 0.7%
Short interest (Underlying) 2.2%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 41
Turnover 0.5%
Bid/Ask (% of price) 0.21%
ADV underlying (mns) $95,675

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 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™: 6.8%


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
(%)
EPS WisdomTree U.S. Earnings 500 Fund 51.5 8 21 6.1 -0.7
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 51.0 15 14 0.0 -6.8
OEF iShares S&P 100 ETF 50.8 20 9 4.5 -2.3
ESGV Vanguard ESG U.S. Stock ETF 49.2 12 17 4.6 -2.2
JCTR JPMorgan Carbon Transition U.S. Equity ETF 48.4 15 14 4.9 -1.9
MGC Vanguard Mega Cap Index Fund 48.4 7 22 4.8 -2.0
IWL iShares Russell Top 200 ETF 48.3 15 14 4.6 -2.2
BKLC BNY Mellon US Large Cap Core Equity ETF 47.4 0 29 4.7 -2.1
PBP Invesco S&P 500 BuyWrite ETF 46.5 49 -20 4.5 -2.3
FQAL Fidelity Quality Factor ETF 45.9 29 0 5.1 -1.7
XYLG Global X S&P 500 Covered Call & Growth ETF 45.8 60 -31 4.4 -2.4
EFIV SPDR S&P 500 ESG ETF 45.6 10 19 4.9 -1.9
SNPE Xtrackers S&P 500 ESG ETF 45.6 10 19 4.9 -1.9
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 45.4 20 9 4.7 -2.1
SPY SPDR S&P 500 ETF Trust 45.2 9 20 4.8 -2.0
IVV iShares Core S&P 500 ETF 45.2 3 26 4.9 -1.9
SPLG SPDR Portfolio Large Cap ETF 45.1 3 26 4.9 -1.9
SPXN ProShares S&P 500 Ex-Financials ETF 44.9 27 2 4.4 -2.4
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 44.9 20 9 4.9 -1.9
RESP WisdomTree US ESG Fund of Benef Interest 44.9 28 1 5.4 -1.4
XLG Invesco S&P 500 Top 50 ETF 44.7 20 9 4.3 -2.5
VOO VANGUARD S&P 500 ETF 44.6 3 26 4.9 -1.9
SPXE ProShares S&P 500 Ex-Energy ETF 44.3 27 2 4.8 -2.0
DIVB iShares U.S. Dividend & Buyback ETF 44.3 25 4 6.0 -0.8
WOMN Impact Shares YWCA Women's Empowerment ETF 43.7 75 -46 3.7 -3.1
SPXV ProShares S&P 500 Ex-Health Care ETF 43.7 27 2 4.4 -2.4
ESGU iShares MSCI USA ESG Optimized ETF 43.7 15 14 4.6 -2.2
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 43.6 7 22 4.7 -2.1
XVV iShares ESG Screened S&P 500 ETF 43.4 8 21 4.9 -1.9
FLRG Fidelity U.S. Multifactor ETF 43.0 29 0 6.0 -0.8
BBUS JP Morgan Betabuilders U.S. Equity ETF 42.9 2 27 4.8 -2.0
VV Vanguard Large-Cap Index Fund 42.9 4 25 4.7 -2.1
CATH Global X S&P 500 Catholic Values Custom ETF 42.8 29 0 4.6 -2.2
FDRR Fidelity Dividend ETF for Rising Rates 42.5 29 0 6.1 -0.7
PBUS Invesco PureBeta MSCI USA ETF 42.4 4 25 4.8 -2.0
EQWL Invesco Russell Top 200 Equal Weight ETF 42.1 25 4 5.8 -1.0
ESG FlexShares STOXX US ESG Impact Index Fund 42.0 32 -3 4.7 -2.1
SPTM SPDR Portfolio Total Stock Market ETF 41.7 3 26 4.9 -1.9
IUS Invesco Strategic US ETF 41.7 19 10 5.2 -1.6
RECS Columbia Research Enhanced Core ETF 41.6 15 14 5.4 -1.4
SCHX Schwab U.S. Large-Cap ETF 41.4 3 26 4.7 -2.1
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 41.3 19 10 5.2 -1.6
DLN WisdomTree U.S. LargeCap Dividend Fund 41.2 28 1 6.4 -0.4
QLC FlexShares US Quality Large Cap Index Fund 41.0 32 -3 4.8 -2.0
HIPR Direxion High Growth ETF 40.8 40 -11 4.1 -2.7
NACP Impact Shares NAACP Minority Empowerment ETF 40.7 49 -20 4.9 -1.9
IWB iShares Russell 1000 ETF 40.6 15 14 4.6 -2.2
FNDX Schwab Fundamental U.S. Large Co. Index ETF 40.6 25 4 5.6 -1.2
KRMA Global X Conscious Companies ETF 40.4 43 -14 5.1 -1.7
IYY iShares Dow Jones U.S. ETF 40.0 20 9 4.6 -2.2
SCHK Schwab 1000 Index ETF 39.9 5 24 4.7 -2.1
RWL Invesco S&P 500 Revenue ETF 39.8 39 -10 6.1 -0.7
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 39.7 9 20 5.0 -1.8
VOOV Vanguard S&P 500 Value ETF 39.7 10 19 6.2 -0.6
PRF Invesco FTSE RAFI US 1000 ETF 39.2 39 -10 5.7 -1.1
SFY SoFi Select 500 ETF 39.1 0 29 4.7 -2.1
VONE Vanguard Russell 1000 ETF 39.0 8 21 4.7 -2.1
IQSU IQ Candriam ESG US Equity ETF 38.9 9 20 4.7 -2.1
XOUT GraniteShares XOUT U.S. Large Cap ETF 38.7 60 -31 3.7 -3.1
QUS SPDR MSCI USA StrategicFactors ETF 38.4 15 14 5.4 -1.4
DTD WisdomTree U.S.Total Dividend Fund 38.4 28 1 6.4 -0.4
VTHR Vanguard Russell 3000 Index Fund 38.1 10 19 4.5 -2.3
JVAL JPMorgan U.S. Value Factor ETF 37.9 12 17 7.1 +0.3
IWV iShares Russell 3000 ETF 37.9 20 9 4.4 -2.4
SYE SPDR MFS Systematic Core Equity ETF 37.8 60 -31 4.9 -1.9
SCHB Schwab U.S. Broad Market ETF 37.5 3 26 4.6 -2.2
DFAU Dimensional US Core Equity Market ETF 37.4 12 17 4.8 -2.0
FNDB Schwab Fundamental U.S. Broad Market Index ETF 37.3 25 4 5.5 -1.3
VOOG Vanguard S&P 500 Growth ETF 37.3 10 19 3.9 -2.9
ITOT iShares Core S&P Total U.S. Stock Market ETF 37.2 3 26 4.5 -2.3
FCPI Fidelity Stocks for Inflation ETF 37.1 29 0 6.3 -0.5
MGV Vanguard Mega Cap Value ETF 37.0 7 22 6.6 -0.2
AFLG First Trust Active Factor Large Cap ETF 36.9 55 -26 4.8 -2.0
SPXT ProShares S&P 500 Ex-Technology ETF 36.8 27 2 5.0 -1.8
VTV Vanguard Value Index Fund 36.8 4 25 6.6 -0.2
ACIO Aptus Collared Income Opportunity ETF 36.5 79 -50 4.1 -2.7
VTI Vanguard Total Stock Market Index Fund 36.3 3 26 4.5 -2.3
IWY iShares Russell Top 200 Growth ETF 36.3 20 9 3.8 -3.0
MMTM SPDR S&P 1500 Momentum Tilt ETF 36.1 12 17 4.1 -2.7
RAFE PIMCO RAFI ESG U.S. ETF 36.0 30 -1 6.7 -0.1
SPYG SPDR Portfolio S&P 500 Growth ETF 36.0 4 25 3.9 -2.9
IVW iShares S&P 500 Growth ETF 36.0 18 11 3.8 -3.0
VLU SPDR S&P 1500 Value Tilt ETF 35.5 12 17 5.9 -0.9
JQUA JPMorgan U.S. Quality Factor ETF 35.1 12 17 5.2 -1.6
IUSG iShares Core S&P US Growth ETF 35.0 4 25 3.9 -2.9
JHML John Hancock Multifactor Large Cap ETF 35.0 29 0 5.0 -1.8
SPYV SPDR Portfolio S&P 500 Value ETF 34.7 4 25 6.3 -0.5
IVE iShares S&P 500 Value ETF 34.6 18 11 6.1 -0.7
RFFC RiverFront Dynamic US Flex-Cap ETF 34.6 52 -23 4.7 -2.1
STLC iShares Factors US Blend Style ETF 34.5 25 4 5.4 -1.4
SCHV Schwab U.S. Large-Cap Value ETF 34.3 4 25 6.1 -0.7
IWX iShares Russell Top 200 Value ETF 34.0 20 9 6.1 -0.7
IOO iShares Global 100 ETF 34.0 40 -11 4.7 -2.1
IWF iShares Russell 1000 Growth ETF 33.8 19 10 3.6 -3.2
DGRO iShares Core Dividend Growth ETF 33.7 8 21 6.4 -0.4
AVUS Avantis U.S. Equity ETF 33.6 15 14 5.0 -1.8
FDLO Fidelity Low Volatility Factor ETF 33.5 29 0 5.0 -1.8
VALQ American Century STOXX U.S. Quality Value ETF 33.4 29 0 7.7 +0.9

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 Value Factor ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 17.5 %
Divided by: Fwd. P/BV 2.5 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 6.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.45 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.