FPRO

Fidelity Real Estate Investment ETF

FPRO is an actively-managed, non-transparent ETF that invests in global real estate companies.


Active, Concentrated

MANAGEMENT MATRIX

XLRE

CLOSEST COMP

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorFidelity
CategoryGlobal Equities
Asset classEquity
Websitelink...
Inception dateFeb 02, 2021
Assets (mns)$14
Expense ratio59 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsQuarterly
Taxation1099
Stock selectionProprietary
WeightingProprietary
Holdings TransparencyNon-transparent
Derivatives-basedNo
Options availableNo
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
PROLOGIS INC 11.7 %
EQUINIX INC 8.1 %
CROWN CASTLE INTL CORP 6.9 %
VENTAS INC 5.4 %
SBA COMMUNICATIONS CORP. CLASS A 5.2 %
DIGITAL REALTY TRUST INC 4.1 %
PUBLIC STORAGE 3.5 %
CBRE GROUP, INC. CLASS A 3.3 %
CUBESMART 3.1 %
NATIONAL RETAIL PROPERTIES 3.0 %
Constituent Breakdown
Number of holdings39
Herfindahl-Hirschman Index 456
Wgt avg mkt cap (mns)$36,115
Large cap (>$10bn)81.1%
Mid cap ($2-10bn)18.0%
Small cap (<$2bn)0.9%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
UNITED STATES 99.4 %
Historical Performance


Standardized Annual Returns (as of 02/29/2024)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
0.0% 6.7% -2.0% -- -- -- -3.6%
Market Correlations
versus...BetaR-squared
S&P 5001.0979%
MSCI EAFE1.0777%
MSCI Emg Mkts0.8448%
Liquidity Measures
Avg. volume (000)2
Turnover0.3%
Avg. Bid/Ask (% of price)0.15%
ADV of underlying (mns)$6,959
Technical Indicators
Recent close$20.91
30d moving avg.$19.99
Annualized volatility23.4%
Relative strength (RSI)73
Short interest (ETF)0.0%
Short interest (underlying)0.0%
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: FPRO 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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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 --%
5.2 16.9 2.5 3.6% --
Based on closing prices from 3/27/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
FPRO



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™

FPRO

5.6%

Cat. Avg

3.6%

Fund Category: Global Equities

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™5.6%
Recommendation

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.

Category Overview
There are 340 funds in the Global Equities category, with an average ALTAR Score™ of 3.6% and a standard deviation of 4.7%. FPRO's ALTAR Score™ is approximately 0.4 standard deviations above the category average. This places FPRO in the 66th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

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



Recent Trends


Breakdown

 

Market Activity
Latest price
Change
Volume
Bid/Ask Spread
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Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
FPRO 59.0 15.4 74.4
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.