Fidelity Value Factor ETF
ALTAR
Score™
7.6% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
22.0x P/Sales
ratio
1.3x
P/BV
ratio
2.1x Div.
yield
2.2%


  • 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) $201
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) $490,108
Large cap (>$10bn) 90.4%
Mid cap ($2-10bn) 9.5%
Small cap (<$2bn) 0.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 7.3 %
MICROSOFT CORP 6.4 %
AMAZON.COM INC 5.4 %
ALPHABET INC. CLASS A 3.5 %
FACEBOOK 2.7 %
JOHNSON & JOHNSON 2.1 %
BERKSHIRE HATHAWAY INC-CL B 2.0 %
VISA INC-CLASS A SHARES 1.8 %
PROCTER & GAMBLE CO/THE 1.7 %
HOME DEPOT INC 1.7 %
Total 34.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.7 %
IRELAND 1.6 %
ISRAEL 0.8 %
BRITAIN 0.7 %
CAYMAN ISLANDS 0.6 %
CANADA 0.2 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-7.2% 2.9% -- -- 10.6%

Market Correlations
versus... Beta R-squared
S&P500 1.12 96%
MSCI EAFE 1.14 85%
MSCI Emg. Mkts. 0.82 71%

Technical Indicators
Recent close $36.25
30d moving avg. $34.88
Annualized volatility 19.5%
Short interest (ETF) 0.4%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 37
Turnover 0.7%
Bid/Ask (% of price) 0.23%
ADV underlying (mns) $94,158

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™: 7.6%


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 54.7 20 9 4.6 -3.0
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 52.5 15 14 6.0 -1.6
XLG Invesco S&P 500 Top 50 ETF 52.2 20 9 4.3 -3.3
EPS WisdomTree U.S. Earnings 500 Fund 50.7 8 21 6.2 -1.4
IWL iShares Russell Top 200 ETF 50.3 15 14 4.7 -2.9
BKLC BNY Mellon US Large Cap Core Equity ETF 50.2 0 29 4.9 -2.7
MGC Vanguard Mega Cap Index Fund 50.0 7 22 5.0 -2.6
NACP Impact Shares NAACP Minority Empowerment ETF 49.0 75 -46 4.6 -3.0
FDRR Fidelity Dividend ETF for Rising Rates 47.7 29 0 6.7 -0.9
PBP Invesco S&P 500 BuyWrite ETF 47.7 49 -20 4.7 -2.9
SNPE Xtrackers S&P 500 ESG ETF 47.5 11 18 4.9 -2.7
SPXN ProShares S&P 500 Ex-Financials ETF 46.8 27 2 4.7 -2.9
HSPX Global X S&P 500 Covered Call ETF 46.6 65 -36 4.6 -3.0
SPXV ProShares S&P 500 Ex-Health Care ETF 46.1 27 2 4.7 -2.9
RECS Columbia Research Enhanced Core ETF 45.8 15 14 5.4 -2.2
FQAL Fidelity Quality Factor ETF 45.7 29 0 5.3 -2.3
SPY SPDR S&P 500 ETF Trust 45.7 9 20 5.1 -2.5
SPLG SPDR Portfolio Large Cap ETF 45.6 3 26 5.2 -2.4
DLN WisdomTree U.S. LargeCap Dividend Fund 45.6 28 1 6.2 -1.4
IVV iShares Core S&P 500 ETF 45.6 4 25 5.2 -2.4
VOO VANGUARD S&P 500 ETF 45.3 3 26 5.2 -2.4
DIVB iShares U.S. Dividend & Buyback ETF 45.2 25 4 6.3 -1.3
SPXE ProShares S&P 500 Ex-Energy ETF 45.2 27 2 5.1 -2.5
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 45.1 20 9 5.1 -2.5
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 44.3 20 9 4.7 -2.9
CATH Global X S&P 500 Catholic Values Custom ETF 44.1 29 0 5.0 -2.6
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 44.0 7 22 5.0 -2.6
ESG FlexShares STOXX US ESG Impact Index Fund 43.8 32 -3 4.8 -2.8
FNDX Schwab Fundamental U.S. Large Co. Index ETF 43.7 25 4 6.1 -1.5
QLC FlexShares US Quality Large Cap Index Fund 43.5 32 -3 5.2 -2.4
XOUT GraniteShares XOUT U.S. Large Cap ETF 43.4 60 -31 3.9 -3.7
BBUS JP Morgan Betabuilders U.S. Equity ETF 43.3 2 27 5.1 -2.5
IQSU IQ Candriam ESG US Equity ETF 43.1 9 20 4.9 -2.7
DTD WisdomTree U.S.Total Dividend Fund 43.1 28 1 6.4 -1.2
VV Vanguard Large-Cap Index Fund 42.8 4 25 5.0 -2.6
PBUS Invesco PureBeta MSCI USA ETF 42.7 4 25 5.0 -2.6
IUS Invesco Strategic US ETF 42.7 19 10 6.2 -1.4
ESGU iShares MSCI USA ESG Optimized ETF 42.5 15 14 4.9 -2.7
SCHX Schwab U.S. Large-Cap ETF 42.4 3 26 5.1 -2.5
SPTM SPDR Portfolio Total Stock Market ETF 42.2 3 26 5.3 -2.3
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 41.8 19 10 5.8 -1.8
PRF Invesco FTSE RAFI US 1000 ETF 41.7 39 -10 6.5 -1.1
AFLG First Trust Active Factor Large Cap ETF 41.6 55 -26 5.3 -2.3
SCHK Schwab 1000 Index ETF 41.1 5 24 5.0 -2.6
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 41.0 12 17 4.6 -3.0
VONE Vanguard Russell 1000 ETF 40.9 8 21 5.0 -2.6
IWB iShares Russell 1000 ETF 40.8 15 14 4.9 -2.7
FNDB Schwab Fundamental U.S. Broad Market Index ETF 40.8 25 4 6.1 -1.5
IYY iShares Dow Jones U.S. ETF 40.6 20 9 4.9 -2.7
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 39.7 9 20 5.3 -2.3
JVAL JPMorgan U.S. Value Factor ETF 39.6 12 17 8.3 +0.7
MMTM SPDR S&P 1500 Momentum Tilt ETF 39.5 12 17 4.5 -3.1
SFY SoFi Select 500 ETF 39.0 0 29 5.0 -2.6
EQWL Invesco Russell Top 200 Equal Weight ETF 39.0 25 4 5.9 -1.7
SCHB Schwab U.S. Broad Market ETF 38.9 3 26 5.0 -2.6
RAFE PIMCO RAFI ESG U.S. ETF 38.8 29 0 7.4 -0.2
ITOT iShares Core S&P Total U.S. Stock Market ETF 38.7 3 26 4.9 -2.7
IWV iShares Russell 3000 ETF 38.6 20 9 4.8 -2.8
VTHR Vanguard Russell 3000 Index Fund 38.5 10 19 4.8 -2.8
VLU SPDR S&P 1500 Value Tilt ETF 38.4 12 17 7.0 -0.6
RWL Invesco S&P 500 Revenue ETF 38.2 39 -10 6.8 -0.8
MGV Vanguard Mega Cap Value ETF 38.2 7 22 7.0 -0.6
ESGV Vanguard ESG U.S. Stock ETF 38.1 12 17 4.9 -2.7
FDLO Fidelity Low Volatility Factor ETF 37.9 29 0 4.9 -2.7
QDF FlexShares Quality Dividend Index Fund 37.7 37 -8 5.9 -1.7
SYE SPDR MFS Systematic Core Equity ETF 37.7 60 -31 5.5 -2.1
FCPI Fidelity Stocks for Inflation ETF 37.5 29 0 6.6 -1.0
VTI Vanguard Total Stock Market Index Fund 37.4 3 26 4.9 -2.7
SPXT ProShares S&P 500 Ex-Technology ETF 37.4 27 2 5.4 -2.2
EXT WisdomTree U.S. Total Earnings Fund 37.4 28 1 5.0 -2.6
SPYG SPDR Portfolio S&P 500 Growth ETF 37.4 4 25 4.2 -3.4
VOOG Vanguard S&P 500 Growth ETF 37.4 10 19 4.1 -3.5
IVW iShares S&P 500 Growth ETF 37.4 18 11 4.0 -3.6
IOO iShares Global 100 ETF 37.2 40 -11 4.6 -3.0
VTV Vanguard Value Index Fund 37.0 4 25 7.1 -0.5
RFDA RiverFront Dynamic US Dividend Advantage ETF 37.0 52 -23 4.8 -2.8
QUS SPDR MSCI USA StrategicFactors ETF 36.9 15 14 5.6 -2.0
IUSG iShares Core S&P US Growth ETF 36.7 4 25 4.2 -3.4
FDVV Fidelity Core Dividend ETF 36.6 29 0 6.9 -0.7
ACIO Aptus Collared Income Opportunity ETF 36.6 79 -50 4.0 -3.6
USDY Pacific Global US Equity Income ETF 36.0 29 0 7.0 -0.6
QDYN FlexShares Quality Dividend Dynamic Index Fund 36.0 37 -8 5.9 -1.7
KRMA Global X Conscious Companies ETF 36.0 43 -14 4.9 -2.7
HIPR Direxion High Growth ETF 35.9 40 -11 4.3 -3.3
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 35.7 75 -46 3.9 -3.7
IWY iShares Russell Top 200 Growth ETF 35.6 20 9 3.7 -3.9
IGM iShares Expanded Tech Sector ETF 35.4 46 -17 3.7 -3.9
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 35.1 49 -20 3.8 -3.8
SCHV Schwab U.S. Large-Cap Value ETF 35.1 4 25 6.9 -0.7
OUSA O'Shares FTSE US Quality Dividend ETF 35.0 48 -19 5.5 -2.1
SPYV SPDR Portfolio S&P 500 Value ETF 34.9 4 25 7.1 -0.5
IVE iShares S&P 500 Value ETF 34.9 18 11 7.0 -0.6
VOOV Vanguard S&P 500 Value ETF 34.8 15 14 7.0 -0.6
DGRO iShares Core Dividend Growth ETF 34.7 8 21 6.4 -1.2
IETC iShares Evolved U.S. Technology ETF 34.6 18 11 3.7 -3.9
WOMN Impact Shares YWCA Women's Empowerment ETF 34.5 75 -46 4.2 -3.4
JHML John Hancock Multifactor Large Cap ETF 34.2 29 0 5.3 -2.3
VYM Vanguard High Dividend Yield Index ETF 34.2 6 23 7.2 -0.4
JQUA JPMorgan U.S. Quality Factor ETF 34.2 12 17 5.1 -2.5
IWX iShares Russell Top 200 Value ETF 34.1 20 9 6.6 -1.0

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 15.6 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 7.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.47 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.