FMET
Fidelity Metaverse ETF
FMET tracks a market cap-weighted index of equities that provides global exposure to the future state of the internet: the metaverse.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
32.1 M
ASSETS UNDER MGMT
39 bp
EXPENSES
Fund Basics
| Fund sponsor | Fidelity |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 19, 2022 |
| Assets (mns) | $32 |
| Expense ratio | 39 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Fundamental |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| APPLE INC | 5.0 % |
| ADOBE SYSTEMS INC | 5.0 % |
| SAMSUNG ELECTRONICS CO LTD | 4.8 % |
| MICROSOFT CORP | 4.5 % |
| TENCENT HOLDINGS LTD | 4.4 % |
| ALPHABET INC. CLASS A | 4.3 % |
| META PLATFORMS INC | 4.3 % |
| NVIDIA CORP | 4.2 % |
| ADVANCED MICRO DEVICES | 3.8 % |
| QUALCOMM INC | 3.7 % |
Constituent Breakdown
| Number of holdings | 62 |
| Herfindahl-Hirschman Index | 298 |
| Wgt avg mkt cap (mns) | $603,823 |
| Large cap (>$10bn) | 80.4% |
| Mid cap ($2-10bn) | 13.4% |
| Small cap (<$2bn) | 6.2% |
| Developed mkts. | 79.1% |
| Emerging mkts. | 20.9% |
Country Exposure
 |
UNITED STATES | 70.0 % |
 |
CHINA | 10.6 % |
 |
SOUTH KOREA | 10.1 % |
 |
FRANCE | 2.8 % |
 |
JAPAN | 1.7 % |
 |
LUXEMBOURG | 1.7 % |
 |
SWEDEN | 1.0 % |
 |
BRITAIN | 0.9 % |
 |
ISRAEL | 0.5 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 5.5% | 25.9% | 29.2% | -- | -- | -- | 9.8% | Volatility | 20.0% | 19.7% | 22.0% | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.07 | 66% |
| MSCI EAFE | 1.03 | 67% |
| MSCI Emg Mkts | 1.06 | 75% |
Liquidity Measures
| Avg. volume (000) | 6 |
| Turnover | 0.6% |
| Avg. Bid/Ask (% of price) | 0.39% |
| ADV of underlying (mns) | $95,935 |
Technical Indicators
| Recent close | $29.25 |
| 30d moving avg. | $30.03 |
| Annualized volatility | 22.6% |
| Relative strength (RSI) | 49 |
| Short interest (ETF) | 0.1% |
| 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. FMET |
Expenses vs. FMET |
ALTAR Score™ vs. FMET |
|---|---|---|---|---|
| METV | Roundhill Ball Metaverse ETF | 45.0% | +20 bp | -2.1% |
| ARVR | First Trust Indxx Metaverse ETF | 42.4% | +31 bp | -4.7% |
| GGME | Invesco Next Gen Media and Gaming ETF | 42.4% | +21 bp | -1.9% |
| IVRS | iShares Future Metaverse Tech and Communications ETF | 40.0% | +8 bp | -10.5% |
| IGPT | Invesco AI and Next Gen Software ETF | 39.0% | +21 bp | -1.6% |
| VERS | ProShares Metaverse ETF | 38.2% | +19 bp | -21.9% |
| TECB | iShares U.S. Tech Breakthrough Multisector ETF | 32.9% | +1 bp | -1.6% |
| CARZ | First Trust NASDAQ Global Auto Index Fund | 31.7% | +31 bp | -1.7% |
| ARTY | iShares Future AI & Tech ETF | 30.6% | +8 bp | -1.6% |
| IGM | iShares Expanded Tech Sector ETF | 29.9% | +2 bp | -1.1% |
Risk and Returns: FMET 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
FMET
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™
FMET
5.5%
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%. FMET's ALTAR Score™ is approximately
0.0 standard deviations
above
the category average. This places FMET in the 51st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FMETSELL
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 |
| FMET (39 bp) Percentile rank | 41 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| FMET | 39.0 | 38.7 | 77.7 |
| Peer Avg. | 46.6 | 16.9 | 63.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .