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ETFs

Fidelity Electric Vehicles and Future Transportation ETF

FDRV
$--
Today’s Change
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Snapshot
*

Inception Date
Oct 05 2021
Expense Ratio
0.39%
Type
Global Equities
Fund Owner
Fidelity
Volume (1m avg. daily)
$193,748
AUM
$49,266,240
Associated Index
Fidelity Electric Vehicles and Future Transportation Index
Inverse/Leveraged
No
Passive/Active
Passive
Fractionable on Composer
No
Prospectus
View

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Invest with FDRV

What is FDRV?

The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity Electric Vehicles and Future Transportation Index. Normally investing at least 80% of assets in securities included in the Fidelity Electric Vehicles and Future Transportation Index and in depositary receipts representing securities included in the index. The Fidelity Electric Vehicles and Future Transportation Index is designed to reflect the performance of a global universe of companies across the market capitalization spectrum engaged in the production of electric and/or autonomous vehicles and their components, technology, or energy systems or engaged in other initiatives that aim to change the future of transportation.

ETFs related toFDRV

ETFs correlated to FDRV include DRIV, IDRV, WTAI

FDRV
Fidelity Covington Trust - Fidelity Electric Vehicles and Future Transportation ETF
DRIV
Global X Funds - Global X Autonomous & Electric Vehicles ETF
IDRV
iShares Trust - iShares Self-Driving EV and Tech ETF
WTAI
WisdomTree Trust - WisdomTree Artificial Intelligence and Innovation Fund
HIBL
Direxion Shares ETF Trust - Direxion Daily S&P 500 High Beta Bull 3X Shares
SPHB
Invesco Capital Management LLC - Invesco S&P 500 High Beta ETF
XT
BlackRock Institutional Trust Company N.A. - iShares Exponential Technologies ETF
IRBO
BlackRock Institutional Trust Company N.A. - iShares Robotics and Artificial Intelligence Multisector ETF
KOMP
SPDR Series Trust - SPDR S&P Kensho New Economies Composite ETF
ARKQ
ARK Investment Management LLC - ARK Autonomous Technology & Robotics ETF
ROBO
Exchange Traded Concepts Trust - ROBO Global Robotics and Automation Index 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 toFDRV

#RB

Rotating Bonds

Category

Getting Defensive, Diversification

Risk Rating

Moderate

Create your own algorithmic trading strategy with FDRV using Composer

FAQ

FDRV is a Global Equities ETF. The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity Electric Vehicles and Future Transportation Index. Normally investing at least 80% of assets in securities included in the Fidelity Electric Vehicles and Future Transportation Index and in depositary receipts representing securities included in the index. The Fidelity Electric Vehicles and Future Transportation Index is designed to reflect the performance of a global universe of companies across the market capitalization spectrum engaged in the production of electric and/or autonomous vehicles and their components, technology, or energy systems or engaged in other initiatives that aim to change the future of transportation.

FDRV tracks the Fidelity Electric Vehicles and Future Transportation Index.

No, FDRV 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, FDRV 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 FDRV is -0.0455%. This is the percent change in the value of FDRV over the most recent 1-month period. The 3-month return on FDRV is -0.0677%. This is the percent change in the value of FDRV over the most recent 3-month period.

The standard deviation of FDRV for the past year is 0.3256%. 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 FDRV include PBW, IGF, and ARKK.

ETFs correlated to FDRV include DRIV, IDRV, and WTAI.

ETFs that are inversely correlated to FDRV include HIBS, SOXS, and BERZ.

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.