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Fidelity® Momentum Factor ETF (FDMO)
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Upturn Advisory Summary
12/19/2024: FDMO (2-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Performance
Type: ETF | Upturn Star Rating | Today’s Advisory: WEAK BUY |
Historic Profit: 7.88% | Upturn Advisory Performance  3 | Avg. Invested days: 47 |
| Profits based on simulation | ETF Returns Performance  2 | Last Close 12/19/2024 |
Type: ETF | Today’s Advisory: WEAK BUY |
Historic Profit: 7.88% | Avg. Invested days: 47 |
Upturn Star Rating | ETF Returns Performance 2 |
| Profits based on simulation Last Close 12/19/2024 | Upturn Advisory Performance 3 |
Key Highlights
Volume (30-day avg) 36161 | Beta 1.01 |
52 Weeks Range 51.07 - 73.11 | Updated Date 12/21/2024 |
52 Weeks Range 51.07 - 73.11 | Updated Date 12/21/2024 |
AI Summarization
ETF Fidelity® Momentum Factor ETF (FMOM) Overview
Profile
Focus: Tracks the Fidelity® U.S. Momentum Factor Index, investing in US large- and mid-cap stocks with strong price momentum.
Asset allocation: Approximately 100% equities, primarily in US large- and mid-cap stocks.
Investment strategy: Seeks capital appreciation through exposure to stocks exhibiting strong price momentum.
Objective
The primary objective is to maximize total return through capital appreciation.
Issuer
Fidelity Management & Research Company
Reputation and Reliability: Fidelity Investments is a highly reputable and established financial institution with a strong track record in asset management.
Management: Experienced and qualified investment team with expertise in quantitative strategies and factor investing.
Market Share
FMOM holds approximately 0.4% of the total US momentum factor ETF market share.
Total Net Assets
As of November 7, 2023, FMOM has approximately $6.5 billion in total net assets.
Moat
Unique strategy: Focuses on identifying and investing in stocks with strong price momentum, utilizing quantitative analysis.
Niche market focus: Targets the US momentum factor ETF market, offering exposure to a specific investment strategy.
Financial Performance
Historical performance: FMOM has outperformed the S&P 500 index in most periods since its inception in 2016.
Benchmark comparison: FMOM has consistently outperformed the Russell 1000 Value Index, its benchmark index.
Growth Trajectory
FMOM has experienced consistent growth in assets under management, indicating increasing investor interest.
Liquidity
Average trading volume: FMOM has an average daily trading volume of approximately 200,000 shares.
Bid-ask spread: The bid-ask spread for FMOM is typically around 0.05%, indicating high liquidity.
Market Dynamics
Factors affecting the market environment include:
- Economic growth: Strong economic growth can lead to higher stock prices and increased momentum.
- Interest rates: Rising interest rates can negatively impact stock prices and reduce momentum.
- Market sentiment: Overall market sentiment can influence investor behavior and impact momentum stocks.
Competitors
Key competitors include iShares MSCI USA Momentum Factor ETF (MTUM), Vanguard U.S. Momentum Factor ETF (MVV), and Invesco S&P 500 Momentum ETF (SPMO).
Expense Ratio
FMOM has an expense ratio of 0.35%.
Investment Approach and Strategy
Strategy: Tracks the Fidelity® U.S. Momentum Factor Index.
Composition: Invests in US large- and mid-cap stocks with strong price momentum characteristics.
Key Points
- Invests in stocks with strong price momentum.
- Seeks to outperform the S&P 500 index.
- Actively managed by an experienced investment team.
- High liquidity and low expense ratio.
Risks
Volatility: FMOM can be more volatile than the broader market due to its focus on momentum stocks.
Market risk: The underlying assets are subject to various market risks, such as economic downturns and interest rate fluctuations.
Style risk: Momentum investing can underperform in certain market environments.
Who Should Consider Investing
FMOM is suitable for investors seeking:
- Exposure to US large- and mid-cap stocks.
- Potential for capital appreciation.
- Tolerance for higher volatility.
- Long-term investment horizon.
Fundamental Rating Based on AI
8.5/10
FMOM has a strong fundamental rating based on AI analysis. It benefits from Fidelity's strong reputation, experienced management, unique strategy, and competitive expense ratio. However, investors should be aware of the inherent volatility and market risks associated with momentum investing.
Resources and Disclaimers
- Fidelity Investments Website: https://www.fidelity.com/etfs/fm/fm
- Morningstar: https://www.morningstar.com/etfs/usn/fm
- Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Please consult with a qualified financial advisor before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Fidelity® Momentum Factor ETF
The fund normally invests at least 80% of assets in securities included in the Fidelity U.S. Momentum Factor Index", which is designed to reflect the performance of stocks of large and mid-capitalization U.S. companies that exhibit positive momentum signals. It invests in lending securities to earn income for the fund.
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