FFSMFidelity
Fidelity Covington Trust - Fidelity Fundamental Small-Mid Cap ETF
$37.31+0.84% today
283852-WK
SOURCE: MARKET TAPE & DAILY CREATION/REDEMPTION RECORDS · 1Y SHOWN
The desk’s read
Flows are quiet — the past month netted out near zero, while the price has returned +19.7% so far this year. At 0.43% a year it is not the cheapest way in — ITDG runs the same ground at 0.11%.
COMPOSED FROM THE FUND’S OWN DAILY RECORDS · UPDATED WITH EACH REFRESH
$86Massets under management
0.43%expense ratio · $43 per $10,000 a year
—net flow, trailing month
274Kavg daily volume, 30 days
0holdings
2021listed February 3, 2021 · beta 1.17
Performance
| 1 week | -2.8% |
| 1 month | +1.1% |
| 3 months | +4.9% |
| 6 months | +10.0% |
| YTD | +19.7% |
| 1 year | +29.5% |
| 3 years | — |
PRICE RETURN, DISTRIBUTIONS NOT REINVESTED
Net flows
| 1 week | — |
| 1 month | — |
| 3 months | — |
| YTD | — |
| 1 year | — |
CREATION/REDEMPTION DOLLARS, DAILY RECORDS
The risk read
16%realized volatility, 30 days (annualized)
19%realized volatility, 1 year
-10.5%deepest fall from a peak, 1 year
-2.9%where it sits vs. that peak today
VOLATILITY & DRAWDOWN FROM THE DAILY TAPE · CONCENTRATION FROM THE LATEST DISCLOSED BOOK
The case against FFSM
Due diligence cuts both ways. These funds sit on the same shelf and beat FFSM on at least one dimension that matters — the fee, the asset base, or where the money is going.
| Fund | Fee | Assets | Flow, 1M | The case | |
|---|---|---|---|---|---|
| IJH iShares Core S&P Mid-Cap ETF | 0.05% | $128.4B | +$547M | -38bp on fee · 1490× the assets · +$547M in over the month | Head-to-head |
| IMCB iShares Morningstar Mid-Cap ETF | 0.04% | $1.7B | +$15M | -39bp on fee · 20× the assets · +$15M in over the month | Head-to-head |
| VO Vanguard Mid Cap Index Fund | 0.04% | $68.1B | — | -39bp on fee · 790× the assets | Head-to-head |
| IMCG iShares Morningstar Mid-Cap Growth ETF | 0.06% | $4.2B | +$69M | -37bp on fee · 49× the assets · +$69M in over the month | Head-to-head |
| IMCV iShares Morningstar Mid-Cap Value ETF | 0.06% | $1.2B | +$20M | -37bp on fee · 14× the assets · +$20M in over the month | Head-to-head |