Correlation
The correlation between FLRG and FMIL is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
FLRG vs. FMIL
Compare and contrast key facts about Fidelity U.S. Multifactor ETF (FLRG) and Fidelity New Millennium ETF (FMIL).
FLRG and FMIL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FLRG is a passively managed fund by Fidelity that tracks the performance of the Fidelity U.S. Multifactor Index. It was launched on Sep 15, 2020. FMIL is an actively managed fund by Fidelity. It was launched on Jun 3, 2020.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FLRG or FMIL.
Performance
FLRG vs. FMIL - Performance Comparison
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Key characteristics
FLRG:
0.82
FMIL:
0.49
FLRG:
1.27
FMIL:
0.84
FLRG:
1.18
FMIL:
1.12
FLRG:
0.92
FMIL:
0.52
FLRG:
3.50
FMIL:
1.87
FLRG:
4.34%
FMIL:
5.48%
FLRG:
18.03%
FMIL:
20.22%
FLRG:
-19.64%
FMIL:
-19.72%
FLRG:
-2.47%
FMIL:
-4.19%
Returns By Period
In the year-to-date period, FLRG achieves a 3.18% return, which is significantly higher than FMIL's 0.99% return.
FLRG
3.18%
6.30%
-0.99%
14.60%
13.50%
N/A
N/A
FMIL
0.99%
7.79%
-1.92%
9.68%
16.54%
N/A
N/A
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FLRG vs. FMIL - Expense Ratio Comparison
FLRG has a 0.29% expense ratio, which is lower than FMIL's 0.59% expense ratio.
Risk-Adjusted Performance
FLRG vs. FMIL — Risk-Adjusted Performance Rank
FLRG
FMIL
FLRG vs. FMIL - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity U.S. Multifactor ETF (FLRG) and Fidelity New Millennium ETF (FMIL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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Dividends
FLRG vs. FMIL - Dividend Comparison
FLRG's dividend yield for the trailing twelve months is around 1.46%, more than FMIL's 0.94% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
FLRG Fidelity U.S. Multifactor ETF | 1.46% | 1.42% | 1.39% | 1.62% | 1.36% | 1.47% |
FMIL Fidelity New Millennium ETF | 0.94% | 0.82% | 0.57% | 1.43% | 1.68% | 0.54% |
Drawdowns
FLRG vs. FMIL - Drawdown Comparison
The maximum FLRG drawdown since its inception was -19.64%, roughly equal to the maximum FMIL drawdown of -19.72%. Use the drawdown chart below to compare losses from any high point for FLRG and FMIL.
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Volatility
FLRG vs. FMIL - Volatility Comparison
The current volatility for Fidelity U.S. Multifactor ETF (FLRG) is 4.20%, while Fidelity New Millennium ETF (FMIL) has a volatility of 4.63%. This indicates that FLRG experiences smaller price fluctuations and is considered to be less risky than FMIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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