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ETFs

Fidelity International Multifactor ETF

FDEV
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Feb 26 2019
Expense Ratio
0.39%
Type
Global Ex. US Equities
Fund Owner
Fidelity
Volume (1m avg. daily)
$84,710
AUM
$15,189,211
Associated Index
Fidelity International Multifactor Index
Inverse/Leveraged
No
Passive/Active
Passive
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

NOVOB
NOVO NORDISK A/S-B
1.86%
AZN
ASTRAZENECA PLC
1.58%
NOVN
Novartis AG - Registered Shares
1.51%
83
Sino Land Co. Ltd.
1.51%
PSPN
PSP Swiss Property AG
1.48%
ROG
Roche Holding AG
1.42%
ENGI
ENGIE
1.39%
1878
Daito Trust Construction Co Ltd
1.35%
3269
Advance Residence Investment Corp.
1.29%
9532
Osaka Gas Co. Ltd.
1.28%
Invest with FDEV

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

FDEV
Fidelity Covington Trust - Fidelity International Multifactor ETF
QEFA
SSgA Active Trust - SPDR MSCI EAFE StrategicFactors SM ETF
GSIE
Goldman Sachs ETF Trust - Goldman Sachs ActiveBeta International Equity ETF
BKIE
BNY Mellon ETF Trust - BNY Mellon International Equity ETF
RODM
Lattice Strategies Trust - Hartford Multifactor Developed Markets (ex-US) ETF
BBIN
J.P. Morgan Exchange-Traded Fund Trust - JPMorgan BetaBuilders International Equity ETF
IEFA
BlackRock Institutional Trust Company N.A. - iShares Core MSCI EAFE ETF
IDEV
iShares Trust - iShares Core MSCI International Developed Markets ETF
EFA
BlackRock Institutional Trust Company N.A. - iShares MSCI EAFE ETF
VEA
Vanguard Group, Inc. - Vanguard FTSE Developed Markets ETF
SCHF
Schwab Strategic Trust - Schwab International Equity ETF

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.

Automated Strategies
Related toFDEV

#TSMO

Treasury and Stock Momentum

Category

Momentum, Be Risk Aware

Risk Rating

Aggressive

#SWITCH

Asset Switching

Category

Momentum, Grow Your Portfolio

Risk Rating

Aggressive

Create your own algorithmic trading strategy with FDEV using Composer

FAQ

FDEV is a Global Ex. US Equities ETF. 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.

FDEV tracks the Fidelity International Multifactor Index.

No, FDEV is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, FDEV is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on FDEV is 0.0318%. This is the percent change in the value of FDEV over the most recent 1-month period. The 3-month return on FDEV is 0.0614%. This is the percent change in the value of FDEV over the most recent 3-month period.

The standard deviation of FDEV for the past year is 0.18%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to FDEV include DTH, PID, and DXJ.

ETFs correlated to FDEV include QEFA, GSIE, and BKIE.

ETFs that are inversely correlated to FDEV include EFZ, EPV, and SKF.

Disclaimers

*

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.