FSMD

Fidelity Small-Mid Multifactor ETF

Fidelity Small-Mid Factor ETF is an exchange-traded fund incorporated in the USA. The fund seeks to track the performance of the Fidelity Small-Mid Factor Index.


US

EQUITY

Rules-Based

MANAGEMENT STYLE

15 bp

EXPENSES

$335.3 M

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorFidelity
CategoryUS
Asset classEquity
Websitelink...
Inception dateFeb 26, 2019
Assets (mns)$335
Expense ratio15 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsQuarterly
Taxation1099
Stock selectionProprietary
WeightingProprietary
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
PURE STORAGE, INC. CLASS A 0.5 %
EMCOR GROUP INC 0.4 %
TEXAS PACIFIC LAND CORPORATION 0.4 %
INTERNATIONAL PAPER CO 0.4 %
UNITED THERAPEUTICS CORP 0.4 %
DICK'S SPORTING GOODS INC 0.4 %
CASEY'S GENERAL STORES INC 0.4 %
RB GLOBAL 0.4 %
INTERACTIVE BROKERS GRO-CL A 0.4 %
REINSURANCE GROUP OF AMERICA 0.3 %
Constituent Breakdown
Number of holdings600
Herfindahl-Hirschman Index 19
Wgt avg mkt cap (mns)$6,676
Large cap (>$10bn)24.0%
Mid cap ($2-10bn)61.2%
Small cap (<$2bn)14.1%
Developed mkts.99.9%
Emerging mkts.0.0%
Country Exposure
UNITED STATES 92.5 %
BERMUDA 1.1 %
BRITAIN 0.8 %
IRELAND 0.6 %
PUERTO RICO 0.6 %
Historical Performance


Standardized Performance (as of 06/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 4.7% 14.7% 14.6% 5.3% 10.1% -- 10.1%
Volatility 14.1% 15.0% 18.0% 18.4% 22.8% -- --
Market Correlations
versus...BetaR-squared
S&P 5000.9382%
MSCI EAFE0.9375%
MSCI Emg Mkts0.6134%
Liquidity Measures
Avg. volume (000)50
Turnover0.6%
Avg. Bid/Ask (% of price)0.20%
ADV of underlying (mns)$59,992
Technical Indicators
Recent close$38.62
30d moving avg.$38.00
Annualized volatility18.6%
Relative strength (RSI)51
Short interest (ETF)0.1%
Short interest (underlying)4.3%
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: FSMD vs. Comps (1 YR)

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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 --%
1.4 14.0 2.0 3.1% --
Based on closing prices from 7/11/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
FSMD



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™

FSMD

7.4%

Cat. Avg

5.7%

Fund Category: US

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™7.4%
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 899 funds in the US category, with an average ALTAR Score™ of 5.7% and a standard deviation of 2.5%. FSMD's ALTAR Score™ is approximately 0.7 standard deviations above the category average. This places FSMD in the 74th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
FSMD
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)
FSMD 15.0 20.1 35.1
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .