ETF PROAI
FFSMFidelityINDEX

Fidelity Covington Trust - Fidelity Fundamental Small-Mid Cap ETF

$34.76+0.06% vs prior close
283852-WK

Price through Sep 22 · Flows through unavailable. Figures use the latest available records, not a live quote. Fund details retrieved Sep 22. Holdings snapshot retrieved Sep 22.

Price & daily flows
36.233.330.434.76DAILY NET FLOWOct 2Jan 28May 22Sep 22

SOURCE: MARKET TAPE & DAILY CREATION/REDEMPTION RECORDS · 1Y SHOWN

The desk’s read

Recent fund-flow records are unavailable, while the price has returned +13.3% so far this year. At 0.43% a year it is not the cheapest way in — GMUN has a reported fee of 0.15%.

COMPOSED FROM THE FUND’S OWN DAILY RECORDS · UPDATED WITH EACH REFRESH

$86Massets under management
0.43%expense ratio · $43 per $10,000 a year
—net flow, trailing month
449Kavg daily volume, 30 days
0holdings
2021listed February 4, 2021 · beta 1.15
Performance
1 week0.0%
1 month-3.3%
3 months-6.6%
6 months+8.8%
YTD+13.3%
1 year+18.4%
3 years—

PRICE RETURN, DISTRIBUTIONS NOT REINVESTED

Net flows
1 week—
1 month—
3 months—
YTD—
1 year—

CREATION/REDEMPTION DOLLARS, DAILY RECORDS

The risk read
14%realized volatility, 30 days (annualized)
19%realized volatility, 1 year
-10.5%deepest fall from a peak, 1 year
-9.5%latest close versus that peak

VOLATILITY & DRAWDOWN FROM THE DAILY TAPE · CONCENTRATION FROM THE LATEST DISCLOSED BOOK

The case against FFSM

Due diligence cuts both ways. These funds sit on the same shelf and beat FFSM on at least one dimension that matters — the fee, the asset base, or where the money is going.

FundFeeAssetsFlow, 1MThe case
SPMD State Street SPDR Portfolio S&P 400 Mid Cap ETF0.03%$18.2B+$199M-40bp on fee · 211× the assets · +$199M in over the monthHead-to-head
IJH iShares Core S&P Mid-Cap ETF0.05%$122.8B+$2.3B-38bp on fee · 1425× the assets · +$2.3B in over the monthHead-to-head
IJR iShares Core S&P Small-Cap ETF0.06%$105.6B+$383M-37bp on fee · 1226× the assets · +$383M in over the monthHead-to-head
IMCB iShares Morningstar Mid-Cap ETF0.04%$1.7B+$35M-39bp on fee · 20× the assets · +$35M in over the monthHead-to-head
VO Vanguard Mid Cap Index Fund0.04%$68.1B—-39bp on fee · 790× the assetsHead-to-head
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InstrumentsHarvest substitutesTrade cost at $1MClient tearsheetStress this fund
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