FVAL
Fidelity Value Factor ETF
The Fidelity Factor Value ETF follows a fundamentally selected, tier-weighted index of large-cap US stocks.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
1.1 B
ASSETS UNDER MGMT
15 bp
EXPENSES
Fund Basics
| Fund sponsor | Fidelity |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 12, 2016 |
| Assets (mns) | $1,123 |
| Expense ratio | 15 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Fundamental |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| NVIDIA CORP | 8.6 % |
| MICROSOFT CORP | 7.7 % |
| APPLE INC | 7.5 % |
| ALPHABET INC. CLASS A | 4.9 % |
| AMAZON.COM INC | 4.4 % |
| META PLATFORMS INC | 3.3 % |
| BERKSHIRE HATHAWAY INC-CL B | 2.4 % |
| TESLA MOTORS INC | 2.2 % |
| VISA INC. CLASS A | 1.7 % |
| JOHNSON & JOHNSON | 1.6 % |
Constituent Breakdown
| Number of holdings | 131 |
| Herfindahl-Hirschman Index | 307 |
| Wgt avg mkt cap (mns) | $1,363,504 |
| Large cap (>$10bn) | 93.9% |
| Mid cap ($2-10bn) | 5.9% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.2% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 106.5 % |
 |
BERMUDA | 1.4 % |
 |
IRELAND | 1.1 % |
 |
BRITAIN | 0.7 % |
Historical Performance
Standardized Performance (as of 09/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 11.9% | 13.6% | 20.0% | 19.8% | 14.1% | -- | -- | 11.7% |
| Dividend Yield | 0.5% | 0.5% | 1.3% | 1.6% | 1.7% | -- | -- | 1.9% |
| Total Returns | 12.5% | 14.2% | 21.3% | 21.4% | 15.7% | -- | -- | 13.6% | Ann. Volatility | 20.1% | 18.4% | 15.5% | 16.0% | 16.8% | -- | -- | 18.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.99 | 94% |
| MSCI EAFE | 0.58 | 39% |
| MSCI Emg Mkts | 0.36 | 18% |
Liquidity Measures
| Avg. volume (000) | 27 |
| ADV traded (mns) | $2 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.19% |
Technical Indicators
| Recent close | $69.64 |
| 30d moving avg. | $68.67 |
| Annualized volatility | 13.8% |
| Relative strength (RSI) | 57 |
| Short interest | 0.2% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| FELC | Fidelity Enhanced Large Cap Core ETF | 62.9% | +3 bp | +5.2% |
| OEF | iShares S&P 100 ETF | 61.3% | +5 bp | +4.4% |
| GSUS | Goldman Sachs MarketBeta U.S. Equity ETF | 59.2% | -8 bp | +4.8% |
| EPS | WisdomTree U.S. LargeCap Fund | 59.0% | -7 bp | +5.7% |
| MGC | Vanguard Mega Cap ETF | 58.9% | -8 bp | +4.6% |
| VOTE | TCW Transform 500 ETF | 58.6% | -10 bp | +4.8% |
| IWL | iShares Russell Top 200 ETF | 58.6% | 0 bp | +4.5% |
| GSPY | Gotham Enhanced 500 ETF | 58.5% | +35 bp | +5.0% |
| BKLC | BNY Mellon US Large Cap Core Equity ETF | 58.4% | -15 bp | +4.9% |
| QRFT | Qraft Ai-Enhanced U.S. Large Cap ETF | 58.4% | +60 bp | +4.0% |
Risk and Returns: FVAL 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.
Content on this tab for Individual & Professional subscribers only. Start your FREE trial
Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
Content on this tab for Individual & Professional subscribers only. Start your FREE trial
Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 10/24/2025
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
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
Some content on this tab for Individual & Professional subscribers only. Start your FREE trial
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™
FVAL
6.8%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 995 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.3%. FVAL's ALTAR Score™ is approximately
0.5 standard deviations
above
the category average. This places FVAL in the 69th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FVALSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 627 |
| Avg. Expense Ratio | 46.1 bp |
| Std. Deviation | 32.8 bp |
| FVAL (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) |
|
|---|---|---|---|
| FVAL | 15.0 | 19.1 | 34.1 |
| Peer Avg. | 46.1 | 15.6 | 61.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .