Fidelity Covington Trust Etf Profile
| FRNW Etf | USD 14.68 0.25 1.73% |
Performance0 of 100
| Odds Of DistressLess than 9
|
Fidelity Covington is selling for under 14.68 as of the 28th of November 2024; that is 1.73 percent increase since the beginning of the trading day. The etf's lowest day price was 14.63. Fidelity Covington has less than a 9 % chance of experiencing financial distress in the next few years, but has generated negative returns over the last 90 days. Equity ratings for Fidelity Covington Trust are calculated daily based on our scoring framework. The performance scores are derived for the period starting the 30th of August 2024 and ending today, the 28th of November 2024. Click here to learn more.
The fund normally invests at least 80 percent of assets in securities included in the index and in depositary receipts representing securities included in the index. Fidelity Clean is traded on BATS Exchange in the United States. More on Fidelity Covington Trust
Moving together with Fidelity Etf
| 0.91 | ICLN | iShares Global Clean | PairCorr |
| 0.94 | TAN | Invesco Solar ETF | PairCorr |
| 0.73 | QCLN | First Trust NASDAQ | PairCorr |
Moving against Fidelity Etf
Fidelity Etf Highlights
| Thematic Ideas | (View all Themes) |
| Business Concentration | Strategy ETFs, Theme ETFs, Energy, Miscellaneous Sector, Fidelity Investments (View all Sectors) |
| Issuer | Fidelity |
| Inception Date | 2021-10-07 |
| Benchmark | Fidelity Clean Energy Index |
| Entity Type | Regulated Investment Company |
| Asset Under Management | 25.94 Million |
| Asset Type | Equity |
| Category | Strategy |
| Focus | Theme |
| Market Concentration | Blended Development |
| Region | Global |
| Administrator | Fidelity Service Company, Inc. |
| Advisor | Fidelity Management & Research Company LLC |
| Custodian | State Street Bank and Trust Company |
| Distributor | Fidelity Distributors Company LLC |
| Portfolio Manager | Deane Gyllenhaal, Louis Bottari, Peter Matthew, Robert Regan, Payal Gupta |
| Transfer Agent | State Street Bank and Trust Company |
| Fiscal Year End | 30-Jun |
| Exchange | Cboe BZX Exchange, Inc. |
| Number of Constituents | 64.0 |
| Market Maker | Citadel |
| Total Expense | 0.39 |
| Management Fee | 0.39 |
| Country Name | USA |
| Returns Y T D | (15.51) |
| Name | Fidelity Covington Trust - Fidelity Clean Energy ETF |
| Currency Code | USD |
| Open Figi | BBG012V1ZBK2 |
| In Threey Volatility | 31.18 |
| 1y Volatility | 33.4 |
| 200 Day M A | 15.0067 |
| 50 Day M A | 14.9625 |
| Code | FRNW |
| Updated At | 27th of November 2024 |
| Currency Name | US Dollar |
| In Threey Sharp Ratio | (0.66) |
Fidelity Covington Trust [FRNW] is traded in USA and was established 2021-10-05. The fund is listed under Miscellaneous Sector category and is part of Fidelity Investments family. The entity is thematically classified as Strategy ETFs. Fidelity Covington Trust currently have 35.09 M in assets under management (AUM). , while the total return for the last 3 years was -17.6%.
Check Fidelity Covington Probability Of Bankruptcy
Geographic Allocation (%)
Sector Allocation
Investors will always prefer to have their portfolios divercified against different sectors. The broad sector allocation increases the possibility of making a profit or at least avoiding a loss. However, this may also reduce the expected return on Fidelity Etf. Generally, it depends on diversification level and type but usually, the broader the sector allocation, the less risk can be expected from holding Fidelity Etf, and the less return is expected.
Institutional investors that are interested in enforcing a sector tilt in their portfolio can use exchange-traded funds, such as Fidelity Covington Trust Etf, as a low-cost alternative to building a custom portfolio. So, using sector ETFs to diversify your portfolio can be a profitable strategy. However, no matter what sectors are desirable at a given time, no single industry should ever make up more than 20 percent of your stock portfolio.
Fidelity Covington Trust Currency Exposure
Fidelity Covington Trust holds assets that are exposed to currency risk. As an investor, you have to ensure that the increase in value or dividend from foreign constituents of Fidelity Covington will not be offset by an unfavorable exchange rate and will not cancel out the return on assets from different countries. In other words, assess how much of your investment depends on the development of foreign currencies before you invest in Fidelity Covington Trust.
Top Fidelity Covington Trust Etf Constituents
| ANA | Acciona | Stock | Utilities | |
| GEV | GE Vernova LLC | Stock | Utilities | |
| ITRI | Itron Inc | Stock | Information Technology | |
| 336260 | Doosan Fuel Cell | Stock | Electrical Equipment & Parts | |
| VER | VERBUND AG | Stock | Utilities - Regulated Electric | |
| PLUG | Plug Power | Stock | Industrials | |
| EDPR | EDP Renovaveis | Stock | Utilities | |
| BEPC | Brookfield Renewable Corp | Stock | Utilities |
Fidelity Covington Trust Risk Profiles
The market premium is part of the Capital Asset Pricing Model (CAPM), which most analysts and investors use to calculate the acceptable rate of return on investment in Fidelity Covington. At the center of the CAPM is the concept of risk and reward, which is usually communicated by investors using alpha and beta measures.
| Mean Deviation | 1.22 | |||
| Standard Deviation | 1.71 | |||
| Variance | 2.92 | |||
| Risk Adjusted Performance | (0.02) |
Fidelity Covington Trust Technical Analysis
Transformation |
The output start index for this execution was zero with a total number of output elements of sixty-one. Fidelity Covington Trust Inverse Tangent Over Price Movement function is an inverse trigonometric method to describe Fidelity Covington price patterns.
Fidelity Covington Against Markets
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fidelity Covington Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors. You can also try the Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
The market value of Fidelity Covington Trust is measured differently than its book value, which is the value of Fidelity that is recorded on the company's balance sheet. Investors also form their own opinion of Fidelity Covington's value that differs from its market value or its book value, called intrinsic value, which is Fidelity Covington's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Fidelity Covington's market value can be influenced by many factors that don't directly affect Fidelity Covington's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Fidelity Covington's value and its price as these two are different measures arrived at by different means. Investors typically determine if Fidelity Covington is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Fidelity Covington's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.