Fidelity Value Factor ETF
ALTAR
Score™
8.1% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
19.8x P/Sales
ratio
1.2x
P/BV
ratio
2.0x Div.
yield
2.5%


  • 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) $175
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) $368,128
Large cap (>$10bn) 90.3%
Mid cap ($2-10bn) 9.4%
Small cap (<$2bn) 0.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MICROSOFT CORP 6.0 %
APPLE INC 5.7 %
AMAZON.COM INC 4.5 %
ALPHABET INC. CLASS A 3.6 %
FACEBOOK 2.5 %
JOHNSON & JOHNSON 2.3 %
VISA INC-CLASS A SHARES 2.0 %
BERKSHIRE HATHAWAY INC-CL B 1.9 %
INTEL CORP 1.7 %
HOME DEPOT INC 1.7 %
Total 31.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.7 %
IRELAND 1.6 %
ISRAEL 0.8 %
BRITAIN 0.7 %
CAYMAN ISLANDS 0.6 %
CANADA 0.1 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-12.1% 6.3% -- -- 9.5%

Market Correlations
versus... Beta R-squared
S&P500 1.13 96%
MSCI EAFE 1.15 85%
MSCI Emg. Mkts. 0.86 74%

Technical Indicators
Recent close $33.70
30d moving avg. $31.54
Annualized volatility 19.5%
Short interest (ETF) 0.0%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 83
Turnover 1.6%
Bid/Ask (% of price) 0.33%
ADV underlying (mns) $109,533

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™: 8.1%


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 54.1 20 9 5.0 -3.2
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 51.6 15 14 6.4 -1.8
XLG Invesco S&P 500 Top 50 ETF 51.1 20 9 4.7 -3.4
IWL iShares Russell Top 200 ETF 50.6 15 14 5.2 -3.0
EPS WisdomTree U.S. Earnings 500 Fund 50.3 8 21 6.5 -1.6
MGC Vanguard Mega Cap Index Fund 50.0 7 22 5.3 -2.8
NACP Impact Shares NAACP Minority Empowerment ETF 50.0 75 -46 4.6 -3.5
PBP Invesco S&P 500 BuyWrite ETF 48.9 49 -20 5.1 -3.0
RECS Columbia Research Enhanced Core ETF 48.7 15 14 5.7 -2.4
HSPX Global X S&P 500 Covered Call ETF 48.0 65 -36 5.0 -3.2
FDRR Fidelity Dividend ETF for Rising Rates 47.5 29 0 7.1 -1.1
SNPE Xtrackers S&P 500 ESG ETF 46.6 11 18 5.2 -2.9
SPXN ProShares S&P 500 Ex-Financials ETF 45.9 27 2 5.1 -3.0
IUS Invesco Strategic US ETF 45.8 19 10 6.2 -1.9
DLN WisdomTree U.S. LargeCap Dividend Fund 45.6 28 1 6.4 -1.8
DIVB iShares U.S. Dividend & Buyback ETF 45.4 25 4 6.5 -1.6
FQAL Fidelity Quality Factor ETF 45.2 29 0 5.5 -2.7
SPLG SPDR Portfolio Large Cap ETF 45.1 3 26 5.5 -2.6
IVV iShares Core S&P 500 ETF 45.0 4 25 5.5 -2.6
SPY SPDR S&P 500 ETF Trust 45.0 9 20 5.5 -2.7
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 44.9 20 9 5.5 -2.6
SPXV ProShares S&P 500 Ex-Health Care ETF 44.8 27 2 5.2 -2.9
VOO VANGUARD S&P 500 ETF 44.8 3 26 5.5 -2.6
SPXE ProShares S&P 500 Ex-Energy ETF 44.4 27 2 5.4 -2.7
FNDX Schwab Fundamental U.S. Large Co. Index ETF 44.2 25 4 6.6 -1.6
CATH Global X S&P 500 Catholic Values Custom ETF 44.1 29 0 5.3 -2.8
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 43.9 20 9 5.1 -3.1
RFDA RiverFront Dynamic US Dividend Advantage ETF 43.9 52 -23 6.0 -2.1
VV Vanguard Large-Cap Index Fund 43.7 4 25 5.4 -2.8
DTD WisdomTree U.S.Total Dividend Fund 43.1 28 1 6.6 -1.5
PBUS Invesco PureBeta MSCI USA ETF 43.1 4 25 5.4 -2.7
BBUS JP Morgan Betabuilders U.S. Equity ETF 42.9 2 27 5.4 -2.7
IQSU IQ Candriam ESG US Equity ETF 42.7 9 20 5.3 -2.9
QLC FlexShares US Quality Large Cap Index Fund 42.4 32 -3 5.6 -2.6
ESGU iShares MSCI USA ESG Optimized ETF 42.4 15 14 5.2 -3.0
SCHX Schwab U.S. Large-Cap ETF 42.1 3 26 5.4 -2.7
WOMN Impact Shares YWCA Women's Empowerment ETF 41.9 75 -46 4.6 -3.6
PRF Invesco FTSE RAFI US 1000 ETF 41.9 39 -10 6.8 -1.3
SPTM SPDR Portfolio Total Stock Market ETF 41.8 3 26 5.6 -2.5
FNDB Schwab Fundamental U.S. Broad Market Index ETF 41.8 25 4 6.6 -1.6
JVAL JPMorgan U.S. Value Factor ETF 41.4 12 17 8.8 +0.7
XOUT GraniteShares XOUT U.S. Large Cap ETF 41.4 60 -31 4.5 -3.6
EXT WisdomTree U.S. Total Earnings Fund 41.2 28 1 5.8 -2.3
IWB iShares Russell 1000 ETF 41.2 15 14 5.3 -2.8
SCHK Schwab 1000 Index ETF 40.8 5 24 5.4 -2.7
VONE Vanguard Russell 1000 ETF 40.7 8 21 5.4 -2.8
ESG FlexShares STOXX US ESG Impact Index Fund 40.7 32 -3 5.2 -2.9
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 40.4 12 17 4.9 -3.3
IYY iShares Dow Jones U.S. ETF 40.3 20 9 5.3 -2.9
AFLG First Trust Active Factor Large Cap ETF 40.3 55 -26 5.6 -2.5
RWL Invesco S&P 500 Revenue ETF 39.7 39 -10 6.8 -1.3
MGV Vanguard Mega Cap Value ETF 39.2 7 22 7.2 -1.0
RAFE PIMCO RAFI ESG U.S. ETF 39.2 29 0 7.7 -0.4
EQWL Invesco Russell Top 200 Equal Weight ETF 39.1 25 4 6.0 -2.1
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 39.0 9 20 5.6 -2.5
MMTM SPDR S&P 1500 Momentum Tilt ETF 39.0 12 17 5.1 -3.0
IWV iShares Russell 3000 ETF 38.7 20 9 5.2 -3.0
SCHB Schwab U.S. Broad Market ETF 38.7 3 26 5.4 -2.8
VTI Vanguard Total Stock Market Index Fund 38.7 3 26 5.3 -2.9
ESGV Vanguard ESG U.S. Stock ETF 38.6 12 17 5.3 -2.8
ITOT iShares Core S&P Total U.S. Stock Market ETF 38.6 3 26 5.3 -2.9
USDY Pacific Global US Equity Income ETF 38.6 29 0 7.7 -0.4
QDF FlexShares Quality Dividend Index Fund 38.5 37 -8 6.9 -1.2
SFY SoFi Select 500 ETF 38.5 0 29 5.4 -2.8
VLU SPDR S&P 1500 Value Tilt ETF 38.5 12 17 7.4 -0.8
VTHR Vanguard Russell 3000 Index Fund 38.4 10 19 5.3 -2.9
VTV Vanguard Value Index Fund 38.3 4 25 7.3 -0.8
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 38.3 19 10 5.7 -2.5
RFFC RiverFront Dynamic US Flex-Cap ETF 38.0 52 -23 5.5 -2.6
SPXT ProShares S&P 500 Ex-Technology ETF 37.5 27 2 5.7 -2.5
FDLO Fidelity Low Volatility Factor ETF 37.4 29 0 5.2 -2.9
QUS SPDR MSCI USA StrategicFactors ETF 37.3 15 14 5.9 -2.3
SCHV Schwab U.S. Large-Cap Value ETF 37.0 4 25 7.1 -1.0
VALQ American Century STOXX U.S. Quality Value ETF 36.6 29 0 8.9 +0.7
FCPI Fidelity Stocks for Inflation ETF 36.4 29 0 6.8 -1.3
IWY iShares Russell Top 200 Growth ETF 36.4 20 9 4.3 -3.8
SPYV SPDR Portfolio S&P 500 Value ETF 36.3 4 25 7.3 -0.8
IVE iShares S&P 500 Value ETF 36.3 18 11 7.2 -0.9
FDVV Fidelity Core Dividend ETF 36.0 29 0 7.3 -0.8
VOOV Vanguard S&P 500 Value ETF 36.0 15 14 7.2 -0.9
DGRO iShares Core Dividend Growth ETF 35.8 8 21 6.5 -1.6
IOO iShares Global 100 ETF 35.7 40 -11 4.9 -3.2
SPYG SPDR Portfolio S&P 500 Growth ETF 35.7 4 25 4.5 -3.7
QDYN FlexShares Quality Dividend Dynamic Index Fund 35.7 37 -8 6.8 -1.3
VOOG Vanguard S&P 500 Growth ETF 35.7 10 19 4.4 -3.7
IVW iShares S&P 500 Growth ETF 35.7 18 11 4.3 -3.8
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 35.5 49 -20 4.2 -4.0
OUSA O'Shares FTSE US Quality Dividend ETF 35.5 48 -19 5.7 -2.4
IUSV iShares Core S&P U.S. Value ETF 35.4 4 25 7.4 -0.7
JQUA JPMorgan U.S. Quality Factor ETF 35.2 12 17 5.3 -2.9
VEGN US Vegan Climate ETF 35.1 60 -31 5.3 -2.8
VYM Vanguard High Dividend Yield Index ETF 34.9 6 23 7.2 -0.9
IUSG iShares Core S&P US Growth ETF 34.9 4 25 4.5 -3.6
DYNF BlackRock U.S. Equity Factor Rotation ETF 34.8 30 -1 6.8 -1.4
TMFC Motley Fool 100 Index ETF 34.6 50 -21 4.0 -4.2
IWX iShares Russell Top 200 Value ETF 34.6 20 9 7.0 -1.1
QDEF FlexShares Quality Dividend Defensive Index Fund 34.5 37 -8 6.3 -1.8
JKF iShares Morningstar Large Cap Value ETF 34.4 25 4 7.7 -0.5
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 34.3 25 4 6.2 -1.9
SYE SPDR MFS Systematic Core Equity ETF 34.2 60 -31 5.9 -2.2

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 15.7 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 8.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.48 CATEGORY
AVERAGE
1.53
 
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.