FLRG
Fidelity U.S. Multifactor ETF
FLRG tracks an index large-cap US stocks selected by four factors - value, quality, low volatility, and momentum.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
190.4 M
ASSETS UNDER MGMT
15 bp
EXPENSES
Fund Basics
| Fund sponsor | Fidelity |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 15, 2020 |
| Assets (mns) | $190 |
| 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 | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| APPLE INC | 6.4 % |
| MICROSOFT CORP | 6.4 % |
| NVIDIA CORP | 5.8 % |
| ALPHABET INC. CLASS A | 3.8 % |
| META PLATFORMS INC | 2.3 % |
| ELI LILLY & CO | 2.0 % |
| VISTRA ENERGY CORP. | 1.6 % |
| BROADCOM INC. | 1.6 % |
| VISA INC. CLASS A | 1.5 % |
| PROCTER & GAMBLE CO/THE | 1.4 % |
Constituent Breakdown
| Number of holdings | 105 |
| Herfindahl-Hirschman Index | 207 |
| Wgt avg mkt cap (mns) | $709,369 |
| Large cap (>$10bn) | 91.3% |
| Mid cap ($2-10bn) | 8.7% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 96.1 % |
 |
BERMUDA | 2.6 % |
 |
IRELAND | 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 | 22.5% | 36.6% | 20.8% | 10.8% | -- | -- | 16.0% | Volatility | 12.0% | 11.7% | 12.5% | 15.8% | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.86 | 93% |
| MSCI EAFE | 0.75 | 74% |
| MSCI Emg Mkts | 0.52 | 34% |
Liquidity Measures
| Avg. volume (000) | 28 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.11% |
| ADV of underlying (mns) | $126,572 |
Technical Indicators
| Recent close | $35.25 |
| 30d moving avg. | $34.05 |
| Annualized volatility | 15.4% |
| Relative strength (RSI) | 53 |
| Short interest (ETF) | 1.1% |
| Short interest (underlying) | 1.8% |
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. FLRG |
Expenses vs. FLRG |
ALTAR Score™ vs. FLRG |
|---|---|---|---|---|
| FQAL | Fidelity Quality Factor ETF | 57.9% | 0 bp | -1.5% |
| FCPI | Fidelity Stocks for Inflation ETF | 57.6% | 0 bp | +0.7% |
| QLC | FlexShares US Quality Large Cap Index Fund | 45.9% | +10 bp | -1.9% |
| VSLU | Applied Finance Valuation Large Cap ETF | 45.8% | +34 bp | -1.7% |
| JCTR | JPMorgan Carbon Transition U.S. Equity ETF | 44.7% | 0 bp | -2.6% |
| FLQL | Franklin LibertyQ U.S. Equity ETF | 44.6% | 0 bp | -1.4% |
| GSLC | Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF | 44.2% | -6 bp | -1.9% |
| QDEF | FlexShares Quality Dividend Defensive Index Fund | 43.9% | +22 bp | -3.4% |
| USNZ | Xtrackers Net Zero Pathway Paris Aligned US Equity ETF | 43.7% | -5 bp | -2.0% |
| MGC | Vanguard Mega Cap ETF | 42.8% | -8 bp | -2.4% |
Risk and Returns: FLRG 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
FLRG
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
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™
FLRG
7.2%
Cat. Avg
5.4%
ALTAR Score™ Calculation
Category Overview
There are 973 funds in the US Equity category, with an average ALTAR Score™
of 5.4% and a standard deviation of
2.4%. FLRG's ALTAR Score™ is approximately
0.8 standard deviations
above
the category average. This places FLRG in the 79th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FLRGSELL
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 |
| FLRG (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) |
|
|---|---|---|---|
| FLRG | 15.0 | 11.2 | 26.2 |
| Peer Avg. | 35.7 | 15.0 | 50.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .