Fidelity Momentum Total Risk Alpha

FCMO Etf   17.73  0.15  0.85%   
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Fidelity Momentum ETF has current Total Risk Alpha of 0.145. The total risk alpha measures the performance of an asset by comparing its returns with those of a selected benchmark portfolio.

Total Risk Alpha

 = 

RFR + (ER[b] - ER[a])

x

STD[a] / STD[b]

 = 
0.145
ER[a] = Expected return on investing in Fidelity Momentum
ER[b] = Expected return on market index or selected benchmark
STD[a] =   Standard Deviation of returns on Fidelity Momentum
STD[b] = Standard Deviation of selected market or benchmark
RFR = Risk Free Rate of return. Typically T-Bill Rate

Fidelity Momentum Total Risk Alpha Peers Comparison

Fidelity Total Risk Alpha Relative To Other Indicators

Fidelity Momentum ETF is rated # 3 ETF in total risk alpha as compared to similar ETFs. It is rated # 4 ETF in maximum drawdown as compared to similar ETFs reporting about  31.41  of Maximum Drawdown per Total Risk Alpha. The ratio of Maximum Drawdown to Total Risk Alpha for Fidelity Momentum ETF is roughly  31.41 
The benchmark portfolio represents the market risk matched to the total risk of the stock ETF or fund.
Compare Fidelity Momentum to Peers

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