- ISIN
- US3160927824
- CUSIP
- 316092782
- Issuer
- Fidelity
- Inception Date
- Sep 12, 2016
- Region
- North America (U.S.)
- Category
- Large Cap Value Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- Fidelity U.S. Value Factor Index
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
- Assets Under Management
- $1B
Highlights
- Avg. Volume (1M)
- 46K
- Avg. Volume Value (1M)
- $3.65M
Share Price Chart
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Performance
FVAL Performance Chart
Fidelity Value Factor ETF (FVAL) is up 12.3% since the beginning of the year. FVAL is currently trading at $80 per share. Investors who bought $1,000 worth of FVAL shares 5 years ago would now be looking at an investment worth $1,790.
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Returns By Period
Fidelity Value Factor ETF (FVAL) has returned 12.26% so far this year and 28.47% over the past 12 months.
Fidelity Value Factor ETF
- 1D
- 0.57%
- 1M
- 2.54%
- 6M
- 9.88%
- YTD
- 12.26%
- 1Y
- 28.47%
- 3Y*
- 18.46%
- 5Y*
- 12.35%
- 10Y*
- —
- ALL TIME*
- 14.57%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
FVAL Monthly Returns History
Based on dividend-adjusted daily data since Sep 15, 2016, FVAL's average daily return is +0.06%, while the average monthly return is +1.25%. At this rate, an investment would double in approximately 4.6 years.
Historically, 69% of months were positive and 31% were negative. The best month was Apr 2020 with a return of +13.8%, while the worst month was Mar 2020 at -16.4%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 3 months.
On a daily basis, FVAL closed higher 55% of trading days. The best single day was Apr 9, 2025 with a return of +9.6%, while the worst single day was Mar 12, 2020 at -11.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.16% | -0.85% | -4.78% | 9.61% | 5.42% | -2.44% | 3.25% | 12.26% | |||||
| 2025 | 3.21% | -1.11% | -4.67% | -2.53% | 5.44% | 4.69% | 1.12% | 4.18% | 2.78% | 2.88% | 0.56% | 1.97% | 19.56% |
| 2024 | 0.23% | 3.72% | 4.01% | -4.17% | 3.26% | 2.45% | 2.27% | 1.24% | 2.06% | -0.25% | 6.14% | -3.74% | 18.05% |
| 2023 | 6.61% | -3.17% | 1.63% | 1.64% | -0.52% | 6.57% | 3.83% | -2.14% | -3.70% | -2.63% | 8.52% | 5.31% | 23.10% |
| 2022 | -2.07% | -3.00% | 3.05% | -7.16% | 1.97% | -10.19% | 7.46% | -4.11% | -9.29% | 10.42% | 5.79% | -5.81% | -14.40% |
| 2021 | -0.02% | 3.77% | 6.72% | 5.07% | 1.65% | 0.75% | 2.04% | 2.47% | -4.77% | 4.72% | -0.86% | 5.82% | 30.33% |
Benchmark Metrics
Fidelity Value Factor ETF has an annualized alpha of 1.39%, beta of 0.96, and R2 of 0.94 versus S&P 500 Index. Calculated based on daily prices since September 15, 2016.
- With beta of 0.96 and R2 of 0.94, this ETF moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 1.39%
- Beta
- 0.96
- R²
- 0.94
- Upside Capture
- 104.70%
- Downside Capture
- 101.16%
Expense Ratio
FVAL has an expense ratio of 0.15%, which is considered low.
Return for Risk
Risk / Return Rank
FVAL ranks 86 for risk / return — above 86% of ETFs peers on PortfoliosLab. Its historical combined result is among the stronger results in the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Fidelity Value Factor ETF (FVAL) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FVAL | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.80 | ||
| Sortino ratioReturn per unit of downside risk | +1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.25 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.02 | 2.00 | +1.01 |
| Martin ratioReturn relative to average drawdown | 12.33 | 8.49 | +3.84 |
Dividends
Dividend History
Fidelity Value Factor ETF provided a 1.56% dividend yield over the last twelve months, with an annual payout of $1.25 per share. The fund has been increasing its distributions for 5 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.25 | $1.17 | $0.98 | $0.90 | $0.79 | $0.73 | $0.65 | $0.67 | $0.61 | $0.53 | $0.12 |
Dividend yield | 1.56% | 1.61% | 1.60% | 1.69% | 1.79% | 1.41% | 1.61% | 1.77% | 2.06% | 1.62% | 0.45% |
Monthly Dividends
The table displays the monthly dividend distributions for Fidelity Value Factor ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.30 | $0.00 | $0.00 | $0.30 | $0.00 | $0.60 | |||||
| 2025 | $0.00 | $0.00 | $0.28 | $0.00 | $0.00 | $0.23 | $0.00 | $0.00 | $0.28 | $0.00 | $0.00 | $0.38 | $1.17 |
| 2024 | $0.00 | $0.00 | $0.25 | $0.00 | $0.00 | $0.25 | $0.00 | $0.00 | $0.25 | $0.00 | $0.00 | $0.24 | $0.98 |
| 2023 | $0.00 | $0.00 | $0.24 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.25 | $0.90 |
| 2022 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.22 | $0.00 | $0.00 | $0.18 | $0.79 |
| 2021 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.22 | $0.73 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Fidelity Value Factor ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Fidelity Value Factor ETF was 37.26%, occurring on Mar 23, 2020. Recovery took 166 trading sessions.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-37.26%Mar 2020 | 1mo 9d | 7mo 28d | 9mo 7dFeb 2020 - Nov 2020 | COVID crash2020 |
-23.42%Sep 2022 | 8mo 28d | 1y 2mo | 1y 11moJan 2022 - Dec 2023 | Bear market2022 |
-19.69%Dec 2018 | 3mo 1d | 6mo 20d | 9mo 21dSep 2018 - Jul 2019 | Rate-hike selloffLate 2018 |
-18.39%Apr 2025 | 1mo 18d | 2mo 26d | 4mo 14dFeb 2025 - Jul 2025 | 2025 selloff2025 |
-10.78%Mar 2018 | 1mo 23d | 5mo 7d | 7moJan 2018 - Aug 2018 | — |
Drawdown Indicators
| FVAL | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.26% | -56.78% | +19.52% |
Max Drawdown (1Y)Largest decline over 1 year | -8.92% | -9.10% | +0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -18.39% | -18.90% | +0.51% |
Max Drawdown (5Y)Largest decline over 5 years | -23.42% | -25.43% | +2.01% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.58% | +1.58% |
Average DrawdownAverage peak-to-trough decline | -4.54% | -10.70% | +6.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.18% | 2.14% | +0.04% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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