Fidelity International Multifactor ETF
Top 10 Holdings
What is FDEV?
Fidelity International Multifactor ETF invests at least 80% of its assets in securities included in the Fidelity International Multifactor Index and in depository receipts representing securities included in the index. The Fidelity International Multifactor Index is designed to reflect the performance of stocks of large- and mid-capitalization developed international companies that have attractive valuations, high quality profiles, positive momentum signals, lower volatility than the broader developed international equity market, and lower correlation to the U.S. equity market. Effective December 1, 2020, "Fidelity Targeted International Factor ETF" is renamed Fidelity International Multifactor ETF and the fund s underlying index, Fidelity Targeted International Factor Index, is renamed Fidelity International Multifactor Index.
ETFs related toFDEV
ETFs correlated to FDEV include QEFA, GSIE, BKIE
What is ETF correlation?
Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.
Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.
Using ETF correlations in portfolio and strategy construction
ETF correlations can help you create investing strategies and portfolios. Use them to:
- •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
- •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
- •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.
Treasury and Stock Momentum
Momentum, Be Risk Aware
Momentum, Grow Your Portfolio
Create your own algorithmic trading strategy with FDEV using Composer
We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.
We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.