FDEV
Fidelity International Multifactor ETF
The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity Targeted International Factor Index.
International
EQUITY
Rules-Based
MANAGEMENT STYLE
87.2 M
ASSETS UNDER MGMT
18 bp
EXPENSES
Fund Basics
| Fund sponsor | Fidelity |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Feb 26, 2019 |
| Assets (mns) | $87 |
| Expense ratio | 18 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| NOVO NORDISK A/S-B | 2.4 % |
| ROCHE HOLDING AG-BR | 1.7 % |
| ASTRAZENECA PLC | 1.6 % |
| NOVARTIS AG | 1.5 % |
| BKW AG | 1.5 % |
| RED ELECTRICA CORP. SA | 1.4 % |
| PSP SWISS PROPERTY AG-REG | 1.4 % |
| UNILEVER PLC | 1.4 % |
| ENDESA SA | 1.3 % |
| SNAM RETE GAS | 1.3 % |
Constituent Breakdown
| Number of holdings | 225 |
| Herfindahl-Hirschman Index | 75 |
| Wgt avg mkt cap (mns) | $54,790 |
| Large cap (>$10bn) | 68.2% |
| Mid cap ($2-10bn) | 29.9% |
| Small cap (<$2bn) | 0.2% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
JAPAN | 22.9 % |
 |
BRITAIN | 14.9 % |
 |
CANADA | 9.2 % |
 |
SWITZERLAND | 8.9 % |
 |
FRANCE | 7.8 % |
 |
AUSTRALIA | 4.8 % |
 |
GERMANY | 4.8 % |
 |
NETHERLANDS | 4.0 % |
 |
DENMARK | 3.9 % |
 |
ITALY | 3.3 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 8.4% | 20.7% | 16.4% | 1.6% | 4.5% | -- | 5.0% | Volatility | 10.9% | 11.2% | 12.5% | 14.4% | 16.5% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.79 | 74% |
| MSCI EAFE | 0.88 | 95% |
| MSCI Emg Mkts | 0.70 | 60% |
Liquidity Measures
| Avg. volume (000) | 22 |
| Turnover | 0.7% |
| Avg. Bid/Ask (% of price) | 0.51% |
| ADV of underlying (mns) | $15,451 |
Technical Indicators
| Recent close | $28.12 |
| 30d moving avg. | $29.07 |
| Annualized volatility | 15.9% |
| Relative strength (RSI) | 44 |
| Short interest (ETF) | 0.7% |
| 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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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. FDEV |
Expenses vs. FDEV |
ALTAR Score™ vs. FDEV |
|---|---|---|---|---|
| GSIE | Goldman Sachs ActiveBeta International Equity ETF | 34.0% | +7 bp | -0.6% |
| QEFA | SPDR MSCI EAFE StrategicFactors ETF | 33.4% | +12 bp | -0.5% |
| GSEU | Goldman Sachs ActiveBeta Europe Equity ETF | 32.7% | +7 bp | -0.6% |
| QLVD | FlexShares Developed Markets ex-US Quality Low Volatility In | 32.5% | +14 bp | -1.8% |
| EFAV | iShares MSCI EAFE Min Vol Factor ETF | 31.7% | +4 bp | -1.2% |
| RODM | Hartford Multifactor Developed Markets (ex-US) ETF | 31.1% | +11 bp | +0.8% |
| IQLT | iShares MSCI Intl Quality Factor ETF | 29.6% | +12 bp | -1.6% |
| GSID | Goldman Sachs MarketBeta International Equity ETF | 29.2% | +2 bp | -0.8% |
| QINT | American Century Quality Diversified International ETF | 29.1% | +21 bp | -0.1% |
| DBEF | Xtrackers MSCI EAFE Hedged Equity ETF | 28.9% | +18 bp | -1.2% |
Risk and Returns: FDEV 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 11/22/2024
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
FDEV
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
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
FDEV
7.7%
Cat. Avg
7.3%
ALTAR Score™ Calculation
Category Overview
There are 267 funds in the International Equity category, with an average ALTAR Score™
of 7.3% and a standard deviation of
2.6%. FDEV's ALTAR Score™ is approximately
0.2 standard deviations
above
the category average. This places FDEV in the 56th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FDEVSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based International Equity ETFs |
| # of ETFs | 152 |
| Avg. Expense Ratio | 42.9 bp |
| Std. Deviation | 24.3 bp |
| FDEV (18 bp) Percentile rank | 15 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| FDEV | 18.0 | 50.7 | 68.7 |
| Peer Avg. | 35.0 | 18.4 | 53.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .