FFLC
Fidelity Fundamental Large Cap Core ETF
FFLC is an actively managed core portfolio of large-cap stocks from US and foreign issuers. Stocks are selected based on fundamental factors.
US
EQUITY
Active
MANAGEMENT STYLE
510.1 M
ASSETS UNDER MGMT
38 bp
EXPENSES
Fund Basics
| Fund sponsor | Fidelity |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 03, 2020 |
| Assets (mns) | $510 |
| Expense ratio | 38 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Fundamental |
| Weighting | |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| MICROSOFT CORP | 7.8 % |
| NVIDIA CORP | 6.1 % |
| META PLATFORMS INC | 4.3 % |
| APPLE INC | 4.0 % |
| ALPHABET INC. CLASS A | 3.5 % |
| EXXON MOBIL CORP | 3.1 % |
| AMAZON.COM INC | 3.0 % |
| BANK OF AMERICA CORP | 2.6 % |
| WELLS FARGO & CO | 2.1 % |
| BROADCOM INC. | 1.9 % |
Constituent Breakdown
| Number of holdings | 107 |
| Herfindahl-Hirschman Index | 236 |
| Wgt avg mkt cap (mns) | $776,112 |
| Large cap (>$10bn) | 96.4% |
| Mid cap ($2-10bn) | 2.8% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 98.8% |
| Emerging mkts. | 1.2% |
Country Exposure
 |
UNITED STATES | 89.4 % |
 |
NETHERLANDS | 1.4 % |
 |
GERMANY | 1.2 % |
 |
BRITAIN | 1.1 % |
 |
IRELAND | 1.0 % |
 |
TAIWAN | 1.0 % |
 |
CANADA | 0.9 % |
 |
SWITZERLAND | 0.9 % |
Historical Performance
Standardized Performance (as of 09/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 22.9% | 37.1% | 30.8% | 16.7% | -- | -- | 22.1% | Volatility | 12.5% | 12.6% | 16.6% | 16.9% | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.95 | 86% |
| MSCI EAFE | 0.87 | 74% |
| MSCI Emg Mkts | 0.61 | 35% |
Liquidity Measures
| Avg. volume (000) | 78 |
| Turnover | 0.7% |
| Avg. Bid/Ask (% of price) | 0.12% |
| ADV of underlying (mns) | $123,389 |
Technical Indicators
| Recent close | $46.69 |
| 30d moving avg. | $44.41 |
| Annualized volatility | 18.3% |
| Relative strength (RSI) | 65 |
| Short interest (ETF) | 0.2% |
| 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. FFLC |
Expenses vs. FFLC |
ALTAR Score™ vs. FFLC |
|---|---|---|---|---|
| FMIL | Fidelity New Millennium ETF | 87.6% | +21 bp | 0.0% |
| MGC | Vanguard Mega Cap ETF | 47.2% | -31 bp | +0.1% |
| IWL | iShares Russell Top 200 ETF | 47.1% | -23 bp | +0.0% |
| OEF | iShares S&P 100 ETF | 45.9% | -18 bp | +0.1% |
| MMTM | SPDR S&P 1500 Momentum Tilt ETF | 44.8% | -26 bp | -0.2% |
| XLG | Invesco S&P 500 Top 50 ETF | 44.8% | -18 bp | -0.2% |
| XVV | iShares ESG Screened S&P 500 ETF | 44.1% | -30 bp | +0.2% |
| RVRB | Reverb ETF | 44.1% | -8 bp | -0.1% |
| USCA | Xtrackers MSCI USA Climate Action Equity ETF | 44.1% | -31 bp | +0.3% |
| USCL | iShares Climate Conscious & Transition MSCI USA ETF | 44.0% | -30 bp | +0.3% |
Risk and Returns: FFLC 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 10/17/2024
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
FFLC
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
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
FFLC
4.7%
Cat. Avg
5.5%
ALTAR Score™ Calculation
Category Overview
There are 933 funds in the US Equity category, with an average ALTAR Score™
of 5.5% and a standard deviation of
2.4%. FFLC's ALTAR Score™ is approximately
0.3 standard deviations
below
the category average. This places FFLC in the 37th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FFLCSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active US Equity ETFs |
| # of ETFs | 308 |
| Avg. Expense Ratio | 67.1 bp |
| Std. Deviation | 37 bp |
| FFLC (38 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) |
|
|---|---|---|---|
| FFLC | 38.0 | 12.0 | 50 |
| Peer Avg. | 56.8 | 23.4 | 80.2 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .