FDLO
Fidelity Low Volatility Factor ETF
The Fidelity Low Volatility Factor ETF tracks an index of large-cap US stocks selected for low volatility of returns and earnings .
Fund Basics
| Fund sponsor | Fidelity |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 12, 2016 |
| Assets (mns) | $471 |
| Expense ratio | 29 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| APPLE INC | 7.2 % |
| MICROSOFT CORP | 6.4 % |
| ALPHABET INC. CLASS A | 3.5 % |
| AMAZON.COM INC | 2.8 % |
| UNITEDHEALTH GROUP INC | 1.8 % |
| VISA INC-CLASS A SHARES | 1.8 % |
| JOHNSON & JOHNSON | 1.6 % |
| MASTERCARD INC-CLASS A | 1.6 % |
| ABBVIE INC | 1.4 % |
| CISCO SYSTEMS INC | 1.4 % |
Constituent Breakdown
| Number of holdings | 127 |
| Herfindahl-Hirschman Index | 183 |
| Wgt avg mkt cap (mns) | $445,467 |
| Large cap (>$10bn) | 95.6% |
| Mid cap ($2-10bn) | 4.4% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 98.3 % |
 |
SWITZERLAND | 0.9 % |
 |
BRITAIN | 0.6 % |
Historical Performance
Standardized Annual Returns (as of 02/28/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -0.8% | -3.2% | 5.8% | 9.9% | 10.0% | -- | 11.4% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.86 | 94% |
| MSCI EAFE | 0.79 | 76% |
| MSCI Emg Mkts | 0.55 | 43% |
Liquidity Measures
| Avg. volume (000) | 46 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.13% |
| ADV of underlying (mns) | $52,519 |
Technical Indicators
| Recent close | $46.13 |
| 30d moving avg. | $46.18 |
| Annualized volatility | 18.6% |
| Relative strength (RSI) | 46 |
| Short interest (ETF) | 0.3% |
| Short interest (underlying) | 1.5% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. FDLO |
Expenses vs. FDLO |
ALTAR Score™ vs. FDLO |
|---|---|---|---|---|
| FDMO | Fidelity Momentum Factor ETF | 56.1% | 0 bp | +0.2% |
| FQAL | Fidelity Quality Factor ETF | 53.3% | 0 bp | +1.1% |
| IWL | iShares Russell Top 200 ETF | 51.1% | -14 bp | +0.1% |
| VOOG | Vanguard S&P 500 Growth ETF | 51.1% | -19 bp | +0.2% |
| IVW | iShares S&P 500 Growth ETF | 51.1% | -11 bp | +0.2% |
| SPYG | SPDR Portfolio S&P 500 Growth ETF | 51.1% | -25 bp | +0.3% |
| BKLC | BNY Mellon US Large Cap Core Equity ETF | 51.0% | -29 bp | +0.2% |
| MGC | Vanguard Mega Cap Index Fund | 51.0% | -22 bp | +0.1% |
| HEET | Hartford Schroders ESG US Equity ETF | 50.8% | +10 bp | +0.9% |
| OMFL | Invesco Russell 1000 Dynamic Multifactor ETF | 50.7% | 0 bp | +3.9% |
Risk and Returns: FDLO 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
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2022 | 2023E | Fwd Est | 2024E | |
| 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 | --% |
Based on closing prices from 3/24/2023
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
FDLO
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™
FDLO
5.7%
Cat. Avg
6.6%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 5.7% |
Recommendation
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
Category Overview
There are 888 funds in the US Equities category, with an average ALTAR Score™
of 6.6% and a standard deviation of
3.2%. FDLO's ALTAR Score™ is approximately
0.3 standard deviations
below
the category average. This places FDLO in the 39th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
FDLO
Peer Average
Recent Trends
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) |
|
|---|---|---|---|
| FDLO | 29.0 | 12.5 | 41.5 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .