FDEM

Fidelity Emerging Markets Multifactor ETF

The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity Targeted Emerging Markets Factor Index.


Rules-Based, Diverse

MANAGEMENT MATRIX

ROAM

CLOSEST COMP

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorFidelity
CategoryEmerging Market Equities
Asset classEquity
Websitelink...
Inception dateFeb 26, 2019
Assets (mns)$49
Expense ratio25 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsQuarterly
Taxation1099
Stock selectionProprietary
WeightingProprietary
Holdings TransparencyFull
Derivatives-basedNo
Options availableNo
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
SAMSUNG ELECTRONICS CO LTD 3.5 %
TENCENT HOLDINGS LTD 3.4 %
LONGFOR PROPERTIES 1.8 %
EMAAR PROPERTIES PJSC 1.8 %
TF ADMINISTRADORA INDUSTRIAL 1.6 %
YUHAN CORPORATION 1.6 %
CHINA VANKE CO LTD-H 1.5 %
DR. REDDY'S LABORATORIES 1.4 %
ALIBABA GROUP HOLDING LTD. 1.4 %
SINOPHARM GROUP CO-H 1.3 %
Constituent Breakdown
Number of holdings243
Herfindahl-Hirschman Index 91
Wgt avg mkt cap (mns)$51,605
Large cap (>$10bn)50.8%
Mid cap ($2-10bn)44.8%
Small cap (<$2bn)4.0%
Developed mkts.6.8%
Emerging mkts.93.3%
Country Exposure
CHINA 21.9 %
INDIA 16.3 %
TAIWAN 15.2 %
SOUTH KOREA 11.8 %
TURKEY 4.6 %
MEXICO 4.4 %
INDONESIA 4.3 %
HONG KONG 3.2 %
SAUDI ARABIA 3.1 %
BRAZIL 2.5 %
Historical Performance


Standardized Annual Returns (as of 02/29/2024)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
0.0% 19.1% 3.7% 0.0% -- -- 2.9%
Market Correlations
versus...BetaR-squared
S&P 5000.5645%
MSCI EAFE0.7269%
MSCI Emg Mkts0.8191%
Liquidity Measures
Avg. volume (000)33
Turnover1.7%
Avg. Bid/Ask (% of price)0.75%
ADV of underlying (mns)$9,328
Technical Indicators
Recent close$24.73
30d moving avg.$22.90
Annualized volatility14.9%
Relative strength (RSI)66
Short interest (ETF)6.4%
Short interest (underlying)0.0%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

Risk and Returns: FDEM vs. Comps (1 YR)

Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.

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Results & Estimates
  2019 2020 2021 2022 2023 2024E 2025E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
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Dividends per share -- -- -- -- -- -- --
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Book value per share -- -- -- -- -- -- --
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Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates

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Valuation Metrics
  2023 2024E Fwd Est 2025E
Price-to-sales --x --x --x --x
Price-to-earnings --x --x --x --x
Price-to-cash flow --x --x --x --x
Price-to-growth --x --x --x --x
Price-to-book value --x --x --x --x
Yield --% --% --x --%
0.7 8.3 1.1 4.4% --
Based on closing prices from 3/27/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
FDEM



Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.

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ETF Research Center Fund Rating

Our measure of an ETF's overall investment merit

ALTAR Score™

FDEM

12.2%

Cat. Avg

6.2%

Fund Category: Emerging Market Equities

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™12.2%
Recommendation

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.

Category Overview
There are 165 funds in the Emerging Market Equities category, with an average ALTAR Score™ of 6.2% and a standard deviation of 4.9%. FDEM's ALTAR Score™ is approximately 1.2 standard deviations above the category average. This places FDEM in the 89th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
FDEM
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown

 

Market Activity
Latest price
Change
Volume
Bid/Ask Spread
Update
Today's Trading

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Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
FDEM 25.0 75.1 100.1
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .
Fundamental data for individual fund constituents sourced from FactSet Research Systems.