FDVV
Fidelity High Dividend ETF
The Fidelity Core Dividend ETF tracks an index of large- and midcap companies that exhibit positive dividend characteristics, with overweights to sectors that exhibit higher dividend yield.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
15 bp
EXPENSES
$3.1 B
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Fidelity |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 12, 2016 |
| Assets (mns) | $3,051 |
| Expense ratio | 15 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Dividends |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| NVIDIA CORP | 6.6 % |
| MICROSOFT CORP | 6.0 % |
| APPLE INC | 5.7 % |
| BROADCOM INC. | 2.3 % |
| PROCTER & GAMBLE CO/THE | 2.2 % |
| EXXON MOBIL CORP | 2.0 % |
| PHILIP MORRIS INTERNATIONAL | 1.7 % |
| PEPSICO INC | 1.7 % |
| NEXTERA ENERGY GROUP | 1.7 % |
| CHEVRON CORP | 1.6 % |
Constituent Breakdown
| Number of holdings | 119 |
| Herfindahl-Hirschman Index | 207 |
| Wgt avg mkt cap (mns) | $546,101 |
| Large cap (>$10bn) | 95.6% |
| Mid cap ($2-10bn) | 3.8% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 90.8 % |
 |
BRITAIN | 3.0 % |
 |
JAPAN | 2.8 % |
 |
DENMARK | 1.0 % |
 |
HONG KONG | 1.0 % |
 |
GERMANY | 0.6 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 12.3% | 22.6% | 18.7% | 11.6% | 13.6% | -- | 12.3% | Volatility | 9.5% | 10.7% | 15.6% | 15.5% | 20.5% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.89 | 87% |
| MSCI EAFE | 0.89 | 81% |
| MSCI Emg Mkts | 0.65 | 45% |
Liquidity Measures
| Avg. volume (000) | 349 |
| Turnover | 0.6% |
| Avg. Bid/Ask (% of price) | 0.06% |
| ADV of underlying (mns) | $184,018 |
Technical Indicators
| Recent close | $47.67 |
| 30d moving avg. | $47.58 |
| Annualized volatility | 17.2% |
| Relative strength (RSI) | 63 |
| Short interest (ETF) | 0.4% |
| Short interest (underlying) | 1.6% |
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. FDVV |
Expenses vs. FDVV |
ALTAR Score™ vs. FDVV |
|---|---|---|---|---|
| FDRR | Fidelity Dividend ETF for Rising Rates | 61.0% | 0 bp | -1.3% |
| DLN | WisdomTree U.S. LargeCap Dividend Fund | 45.3% | +13 bp | -2.9% |
| OEF | iShares S&P 100 ETF | 43.5% | +5 bp | -4.0% |
| IWL | iShares Russell Top 200 ETF | 42.3% | 0 bp | -4.0% |
| DTD | WisdomTree U.S. Total Dividend Fund | 42.2% | +13 bp | -2.7% |
| JHDV | John Hancock U.S. High Dividend ETF | 40.8% | +19 bp | -2.5% |
| JUST | Goldman Sachs JUST U.S. Large Cap Equity ETF | 40.6% | +5 bp | -3.9% |
| ADME | Aptus Drawdown Managed Equity ETF | 40.6% | +64 bp | -4.7% |
| EPS | WisdomTree U.S. LargeCap Fund | 40.4% | -7 bp | -2.8% |
| GSUS | Goldman Sachs MarketBeta U.S. Equity ETF | 40.3% | -8 bp | -3.8% |
Risk and Returns: FDVV 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 | -- | -- | -- | -- | -- | -- | -- | |
| 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
| 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 | --% |
Based on closing prices from 7/25/2024
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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
FDVV
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™
FDVV
9.0%
Cat. Avg
5.7%
Fund Category: US
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 9.0% |
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 899 funds in the US category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.4%. FDVV's ALTAR Score™ is approximately
1.3 standard deviations
above
the category average. This places FDVV in the 91st percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
FDVV
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| FDVV (15 bp) Percentile rank | 17 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| FDVV | 15.0 | 5.6 | 20.6 |
| Peer Avg. | 36.9 | 15.0 | 51.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .