FLRG

Fidelity U.S. Multifactor ETF

FLRG tracks an index large-cap US stocks selected by four factors - value, quality, low volatility, and momentum.


US

EQUITY

Rules-Based

MANAGEMENT STYLE

192.9 M

ASSETS UNDER MGMT

15 bp

EXPENSES
Fund Basics
Fund sponsorFidelity
CategoryUS
Asset classEquity
Websitelink...
Inception dateSep 15, 2020
Assets (mns)$193
Expense ratio15 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsQuarterly
Taxation1099
Stock selectionMulti-Factor
WeightingTiered
Holdings TransparencyFull
Derivatives-basedNo
Options availableNo
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
APPLE INC 6.4 %
MICROSOFT CORP 6.4 %
NVIDIA CORP 5.8 %
ALPHABET INC. CLASS A 3.8 %
META PLATFORMS INC 2.3 %
ELI LILLY & CO 2.0 %
VISTRA ENERGY CORP. 1.6 %
BROADCOM INC. 1.6 %
VISA INC. CLASS A 1.5 %
PROCTER & GAMBLE CO/THE 1.4 %
Constituent Breakdown
Number of holdings105
Herfindahl-Hirschman Index 207
Wgt avg mkt cap (mns)$706,403
Large cap (>$10bn)90.3%
Mid cap ($2-10bn)9.7%
Small cap (<$2bn)0.0%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
UNITED STATES 96.1 %
BERMUDA 2.6 %
IRELAND 0.6 %
Historical Performance


Standardized Performance (as of 11/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 29.1% 34.4% 21.0% 13.2% -- -- 17.1%
Volatility 12.0% 11.7% 12.5% 15.8% -- -- --
Market Correlations
versus...BetaR-squared
S&P 5000.8593%
MSCI EAFE0.7571%
MSCI Emg Mkts0.5031%
Liquidity Measures
Avg. volume (000)27
Turnover0.5%
Avg. Bid/Ask (% of price)0.11%
ADV of underlying (mns)$93,246
Technical Indicators
Recent close$35.72
30d moving avg.$34.05
Annualized volatility15.6%
Relative strength (RSI)53
Short interest (ETF)1.4%
Short interest (underlying)1.8%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Risk and Returns: FLRG 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 --%
2.6 17.6 3.5 1.4% --
Based on closing prices from 12/4/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
FLRG



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 Rating

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™

FLRG

7.2%

Cat. Avg

5.3%


ALTAR Score™ Calculation

Category Overview
There are 978 funds in the US Equity category, with an average ALTAR Score™ of 5.3% and a standard deviation of 2.4%. FLRG's ALTAR Score™ is approximately 0.8 standard deviations above the category average. This places FLRG in the 79th percentile among funds in the category.
Sell Side Consensus Rating

Sell-side recommendations on the ETF's individual constituents

FLRG
Peer Average
SELL
U/W
HOLD
O/W
BUY
Factor Scorecard

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Expense Analysis

Peer Group Rules-Based
US Equity ETFs
# of ETFs 609
Avg. Expense Ratio 46.6 bp
Std. Deviation 32.9 bp
FLRG (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)
FLRG 15.0 11.2 26.2
Peer Avg. 37.1 14.9 52.1
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .