FDLO
Fidelity Low Volatility Factor ETF
The Fidelity Low Volatility Factor ETF tracks an index of large-cap US stocks selected for low volatility of returns and earnings .
US
EQUITY
Rules-Based
MANAGEMENT STYLE
1.3 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) | $1,268 |
| Expense ratio | 15 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| APPLE INC | 7.7 % |
| MICROSOFT CORP | 7.5 % |
| ALPHABET INC. CLASS A | 4.4 % |
| AMAZON.COM INC | 3.9 % |
| ELI LILLY & CO | 2.0 % |
| UNITEDHEALTH GROUP INC | 1.7 % |
| ORACLE CORP | 1.6 % |
| TEXAS INSTRUMENTS INC | 1.6 % |
| VISA INC. CLASS A | 1.5 % |
| MASTERCARD INCORPORATED CLASS A | 1.4 % |
Constituent Breakdown
| Number of holdings | 130 |
| Herfindahl-Hirschman Index | 215 |
| Wgt avg mkt cap (mns) | $861,606 |
| Large cap (>$10bn) | 98.1% |
| Mid cap ($2-10bn) | 1.7% |
| Small cap (<$2bn) | 0.2% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 95.7 % |
 |
IRELAND | 1.9 % |
 |
SWITZERLAND | 1.6 % |
 |
BRITAIN | 0.6 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 15.3% | 26.4% | 16.7% | 7.8% | 11.9% | -- | 13.2% | Volatility | 8.9% | 8.9% | 10.7% | 13.8% | 18.5% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.78 | 90% |
| MSCI EAFE | 0.68 | 71% |
| MSCI Emg Mkts | 0.47 | 32% |
Liquidity Measures
| Avg. volume (000) | 80 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.08% |
| ADV of underlying (mns) | $106,491 |
Technical Indicators
| Recent close | $61.11 |
| 30d moving avg. | $61.24 |
| Annualized volatility | 14.3% |
| Relative strength (RSI) | 51 |
| Short interest (ETF) | 0.2% |
| Short interest (underlying) | 1.5% |
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. FDLO |
Expenses vs. FDLO |
ALTAR Score™ vs. FDLO |
|---|---|---|---|---|
| MGC | Vanguard Mega Cap ETF | 51.1% | -8 bp | -0.4% |
| OUSA | ALPS O'Shares U.S. Quality Dividend ETF | 50.6% | +33 bp | +0.6% |
| QLV | FlexShares US Quality Low Volatility Index Fund | 50.5% | +7 bp | -1.5% |
| IWL | iShares Russell Top 200 ETF | 50.4% | 0 bp | -0.5% |
| OEF | iShares S&P 100 ETF | 49.8% | +5 bp | -0.5% |
| JUST | Goldman Sachs JUST U.S. Large Cap Equity ETF | 49.5% | +5 bp | -0.4% |
| SPXN | ProShares S&P 500 Ex-Financials ETF | 49.3% | -6 bp | -0.2% |
| LVOL | American Century Low Volatility ETF | 48.6% | +14 bp | -0.4% |
| USCA | Xtrackers MSCI USA Climate Action Equity ETF | 48.5% | -8 bp | -0.3% |
| GDEF | Goldman Sachs Defensive Equity ETF | 47.9% | +40 bp | -0.6% |
Risk and Returns: FDLO 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 11/15/2024
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
FDLO
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™
FDLO
5.3%
Cat. Avg
5.5%
ALTAR Score™ Calculation
Category Overview
There are 973 funds in the US Equity category, with an average ALTAR Score™
of 5.5% and a standard deviation of
2.4%. FDLO's ALTAR Score™ is approximately
0.1 standard deviations
below
the category average. This places FDLO in the 47th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FDLOSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| FDLO (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) |
|
|---|---|---|---|
| FDLO | 15.0 | 7.8 | 22.8 |
| Peer Avg. | 35.7 | 15.0 | 50.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .