Fidelity Info Technology
ALTAR
Score™
5.5% info Recommen-
dation
UNDERWEIGHT
2017E    2018E
P/E
ratio
21.8x P/Sales
ratio
3.8x
P/BV
ratio
5.1x Div.
yield
1.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Fidelity MSCI Information Technology Index ETF is an exchange-traded fund incorporated in the USA. The ETF seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Information Technology Index.

FUND BASICS
Category Sector ETFs
Fund Sponsor FMR LLC
Website www.fidelity.com
Inception date Oct 24, 2013
Assets (mns) $1,182
Currency USD
Expense ratio 12 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Exch Traded Index Fd
Custodian State Street Bank & Trust Co
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 358
Wgt avg mkt cap (mns) $325,247
Large cap (>$10bn) 88.6%
Mid cap ($2-10bn) 9.0%
Small cap (<$2bn) 2.4%
Developed mkts 99.8%
Emerging mkts 0.2%

TOP TEN HOLDINGS
APPLE INC 13.4 %
MICROSOFT CORP 9.5 %
FACEBOOK 6.8 %
ALPHABET INC. CLASS C 5.1 %
ALPHABET INC. CLASS A 4.9 %
VISA INC-CLASS A SHARES 3.3 %
INTEL CORP 3.1 %
CISCO SYSTEMS INC 2.8 %
ORACLE CORP 2.5 %
INTL BUSINESS MACHINES CORP 2.4 %
Total 53.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.1 %
IRELAND 1.6 %
SWITZERLAND 0.5 %
ARGENTINA 0.2 %
SINGAPORE 0.2 %
BERMUDA 0.1 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
26.1% 27.7% -- -- 18.3%

Market Correlations
versus... Beta R-squared
S&P500 1.24 76%
MSCI EAFE 0.90 60%
MSCI Emg. Mkts. 0.55 36%

Technical Indicators
Recent close $47.94
30d moving avg. $46.43
Annualized volatility 14.3%
Short interest (ETF) 0.3%
Short interest (Underlying) 2.4%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 158
Turnover 0.6%
Bid/Ask (% of price) 0.11%
ADV underlying (mns) $41,033

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Fidelity Info Technology ETF based on the alternatives' overlap in portfolio holdings with FTEC. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FTEC Expense: 12 bp ALTAR Score™: 5.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FTEC
Ticker Fund
Name
Overlap1
vs FTEC
(%)
Expense
ratio
(bp)
Savings
vs FTEC
(bp)
ALTAR
Score™
(%)
ALTAR
vs FTEC
(%)
VGT Vanguard Info Tech ETF 99.6 10 2 5.5 -0.0
IGM iShares S&P N. American Technology 89.0 48 -36 4.6 -1.0
XLK Technology Select Sector SPDR 85.8 14 -2 5.7 +0.2
IYW iShares US Technology 79.2 45 -33 5.2 -0.3
IXN iShares S&P Global Technology 76.4 48 -36 5.4 -0.2
JHMT John Hancock Multifactor Technology 61.6 50 -38 5.3 -0.2
QQQ PowerShares QQQ 58.4 20 -8 5.6 +0.1
QYLD Horizons NASDAQ-100 Covered Call 58.0 60 -48 5.4 -0.2
TCHF iShares Edge MSCI Multifactor Technology 49.3 35 -23 5.7 +0.2
ONEQ Fidelity NASDAQ Composite 46.2 26 -14 5.3 -0.3
JKE iShares Morningstar Large Cap Growth 44.6 25 -13 4.4 -1.1
RYT Guggenheim S&P Equal Weight Technology 43.4 40 -28 5.2 -0.3
IWY iShares Russell Top 200 Growth 40.9 20 -8 5.2 -0.3
TDIV First Trust NASDAQ Technology Dividend 39.1 50 -38 6.6 +1.1
SPMO PowerShares S&P 500 Momentum Portfolio 38.2 25 -13 4.8 -0.7
VONG Vanguard Russell 1000 Growth 37.8 15 -3 5.4 -0.1
IWF iShares Russell 1000 Growth 37.7 20 -8 5.2 -0.3
VOOG Vanguard S&P 500 Growth ETF 36.8 15 -3 5.3 -0.2
SPYG SPDR Portfolio S&P 500 Growth 36.7 4 8 5.7 +0.2
IVW iShares S&P 500 Growth 36.7 18 -6 5.2 -0.4

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2012 2013 2014 2015 2016 2017E 2018E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

Content on this tab for subscribers only

VALUATION METRICS
  2016 2017E 2018E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Fidelity Info Technology
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores above 3.0% but below 6.0%. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 24.4 %
Divided by: Fwd. P/BV 4.3 x
Less: Expense ratio 12 bp
Equals: ALTAR Score 5.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.38 CATEGORY
AVERAGE
1.55
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.