FDFF
Fidelity Disruptive Finance ETF
FDFF is an actively managed fund that invests in disruptive finance companies from around the world.
Global
EQUITY
Active
MANAGEMENT STYLE
46.9 M
ASSETS UNDER MGMT
50 bp
EXPENSES
Fund Basics
| Fund sponsor | Fidelity |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 16, 2020 |
| Assets (mns) | $47 |
| Expense ratio | 50 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | |
| Taxation | 1099 |
| Stock selection | |
| Weighting | |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| BRP GROUP INC CLASS A | 6.5 % |
| BLACKROCK INC | 5.9 % |
| VISA INC. CLASS A | 5.3 % |
| MASTERCARD INCORPORATED CLASS A | 5.0 % |
| EQUIFAX INC | 5.0 % |
| CAPITAL ONE FINANCIAL CORP | 4.8 % |
| FINECOBANK SPA | 4.2 % |
| FLYWIRE CORP. | 4.0 % |
| ADYEN NV | 3.6 % |
| LONDON STOCK EXCHANGE GROUP | 3.4 % |
Constituent Breakdown
| Number of holdings | 48 |
| Herfindahl-Hirschman Index | 338 |
| Wgt avg mkt cap (mns) | $94,073 |
| Large cap (>$10bn) | 70.2% |
| Mid cap ($2-10bn) | 22.6% |
| Small cap (<$2bn) | 7.2% |
| Developed mkts. | 96.9% |
| Emerging mkts. | 3.1% |
Country Exposure
 |
UNITED STATES | 72.8 % |
 |
BRITAIN | 6.2 % |
 |
ITALY | 4.2 % |
 |
NETHERLANDS | 3.6 % |
 |
SINGAPORE | 3.2 % |
 |
BERMUDA | 2.7 % |
 |
NORWAY | 2.5 % |
 |
URUGUAY | 1.9 % |
 |
CAYMAN ISLANDS | 1.1 % |
 |
ARGENTINA | 0.8 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 21.3% | -- | -- | -- | -- | -- | 21.3% | Volatility | 15.9% | 15.8% | -- | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.00 | 0% |
| MSCI EAFE | 0.00 | 0% |
| MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
| Avg. volume (000) | 3 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.00% |
| ADV of underlying (mns) | $17,577 |
Technical Indicators
| Recent close | $37.70 |
| 30d moving avg. | $33.81 |
| Annualized volatility | 0.0% |
| Relative strength (RSI) | 58 |
| 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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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. FDFF |
Expenses vs. FDFF |
ALTAR Score™ vs. FDFF |
|---|---|---|---|---|
| BFIIX | Baron FinTech | 24.8% | +25 bp | -0.7% |
| IPAY | ETFMG Prime Mobile Payments ETFMG Prime Mobile Payments Fund | 22.7% | +25 bp | +0.5% |
| IYG | iShares US Financial Services ETF | 19.4% | -10 bp | +0.8% |
| FNCL | Fidelity MSCI Financials Index ETF | 19.2% | -42 bp | +1.4% |
| VFH | Vanguard Financials ETF | 18.5% | -40 bp | +1.5% |
| XLF | Financial Select Sector SPDR Fund | 17.5% | -41 bp | +1.1% |
| IYJ | iShares U.S. Industrials ETF | 14.9% | -10 bp | +0.4% |
| FINX | Global X FinTech ETF | 14.7% | +18 bp | -1.5% |
| BPAY | BlackRock Future Financial and Technology ETF | 14.7% | +20 bp | +4.0% |
| IXG | iShares Global Financials ETF | 14.6% | -8 bp | +2.0% |
Risk and Returns: FDFF 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 11/21/2024
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
FDFF
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™
FDFF
4.1%
Cat. Avg
4.1%
ALTAR Score™ Calculation
Category Overview
There are 376 funds in the Global Equity category, with an average ALTAR Score™
of 4.1% and a standard deviation of
4.7%. FDFF's ALTAR Score™ is approximately
0.0 standard deviations
above
the category average. This places FDFF in the 50th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FDFFSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active Global Equity ETFs |
| # of ETFs | 118 |
| Avg. Expense Ratio | 73.5 bp |
| Std. Deviation | 29.8 bp |
| FDFF (50 bp) Percentile rank | 23 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| FDFF | 50.0 | 0.0 | 50 |
| Peer Avg. | 74.7 | 39.0 | 113.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .