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ETFs

Fidelity Momentum Factor ETF

FDMO
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Sep 12 2016
Expense Ratio
0.29%
Type
US Equities
Fund Owner
Fidelity
Volume (1m avg. daily)
$583,747
AUM
$125,732,720
Associated Index
Fidelity U.S. Momentum Factor Index
Inverse/Leveraged
No
Passive/Active
Passive
Fractionable on Composer
Yes
Prospectus
View

Top 10 Holdings

AAPL
Apple Inc
7.18%
MSFT
Microsoft Corporation
6.38%
GOOGL
Alphabet Inc - Ordinary Shares - Class A
3.34%
BRK/B
Berkshire Hathaway Inc. - Ordinary Shares - Class B
1.97%
UNH
Unitedhealth Group Inc
1.81%
V
Visa Inc - Ordinary Shares - Class A
1.78%
JNJ
Johnson & Johnson
1.66%
JPM
JPMorgan Chase & Co.
1.50%
ABBV
Abbvie Inc
1.46%
HD
Home Depot, Inc.
1.40%
Invest with FDMO

What is FDMO?

The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity U.S. Momentum Factor Index. Normally investing at least 80% of assets in securities included in the Fidelity U.S. Momentum Factor Index, which is designed to reflect the performance of stocks of large and mid-capitalization U.S. companies that exhibit positive momentum signals.

ETFs related toFDMO

ETFs correlated to FDMO include FLQL, GSLC, DFUS

FDMO
Fidelity Covington Trust - Fidelity Momentum Factor ETF
FLQL
Franklin Templeton ETF Trust - Franklin U.S. Large Cap Multifactor Index ETF
GSLC
Goldman Sachs ETF Trust - Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF
DFUS
Dimensional ETF Trust - Dimensional U.S. Equity ETF
IVV
BlackRock Institutional Trust Company N.A. - iShares Core S&P 500 ETF
SPUU
Direxion Shares ETF Trust - Direxion Daily S&P 500 Bull 2X Shares
SPY
SSgA Active Trust - SPDR S&P 500 ETF Trust
SPLG
SPDR Series Trust - SPDR Portfolio S&P 500 ETF
VOO
Vanguard Group, Inc. - Vanguard S&P 500 ETF
VV
Vanguard Group, Inc. - Vanguard Large Cap ETF
SPXL
Direxion Shares ETF Trust - Direxion Daily S&P 500 Bull 3X Shares

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 toFDMO

#SPYMIN

SPY minimum drawdown

Category

Community

Risk Rating

Aggressive

#HFEAR

Hedgefundie's Excellent Adventure Refined

Category

Balance Risk Not Assets, Lever Up, Composer's Picks

Risk Rating

Aggressive

Create your own algorithmic trading strategy with FDMO using Composer

FAQ

FDMO is a US Equities ETF. The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity U.S. Momentum Factor Index. Normally investing at least 80% of assets in securities included in the Fidelity U.S. Momentum Factor Index, which is designed to reflect the performance of stocks of large and mid-capitalization U.S. companies that exhibit positive momentum signals.

FDMO tracks the Fidelity U.S. Momentum Factor Index.

No, FDMO 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, FDMO 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 FDMO is 0.0257%. This is the percent change in the value of FDMO over the most recent 1-month period. The 3-month return on FDMO is 0.0426%. This is the percent change in the value of FDMO over the most recent 3-month period.

The standard deviation of FDMO for the past year is 0.2203%. 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 FDMO include USMV, SPLV, and DSI.

ETFs correlated to FDMO include FLQL, GSLC, and DFUS.

ETFs that are inversely correlated to FDMO include SPDN, SDS, and SPXS.

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.