FidelityUS Stock StylesValue#260 of 702 by YTD

Fidelity Value Factor ETFFVAL

S&P 500 Bucket avg Compare

$81.48+1.4%

+$1.13 · Nov 9 close

Buy

AUM: $1.4B
Fee: 0.15%
Yield: 1.5%

Bumpy · 1Y: 0.9×S&P
Volume: 62K
NAV: $81.58

What's insideAll 137 →

AAPL 8.1%NVDA 7.1%MSFT 6.5%GOOGL 4.4%

52-week range3% below the high

$67.20$83.71

Returns	Today	1W	1M	3M	YTD	1Y	3Y	5Y	Max
Total return	+1.4%	0.0%	−0.6%	−0.8%	+14.5%	+19.5%	+79.8%	+77.9%	+286.9%
Peer average	+2.0%	+0.3%	+2.6%	+0.3%	+18.8%	+24.3%	+75.1%	+73.3%	—
S&P 500 · VOO	+2.3%	+0.1%	−3.3%	−2.1%	+11.3%	+13.6%	+81.6%	+75.4%	—

FVAL in One Breath

FVAL Among Value ETFs

YTD

#1VLUEiShares+38.6%$9.1B

#2QVALAlpha Architect+32.6%$710M

#3IWXiShares+27.0%$4.0B

#4VONVVanguard+26.3%$21.7B

#5IWDiShares+26.2%$84.7B

#6FBCVFidelity+25.8%$199M

#7TVALT. Rowe Price+25.6%$1.1B

#8LVDSJ.P. Morgan+25.0%$119M

#62FVALFidelity+14.5%$1.4B

End-of-day Nov 10, 2026 · 77 Value ETFs by YTD

$10,000 in FVAL

$10,000 in FVAL became

$17,789

In the S&P 500 (VOO)

$17,543

Total return, dividends in · Nov 1, 2021 – Nov 9, 2026 · S&P 500 uses VOO

FVAL’s Top Holdings

Today

AAPLApple8.1%NVDA7.1%MSFT6.5%GOOGL4.4%AMZN3.7%AVGO2.6%BRK-B2.1%META2.1%LLY2.0%MU1.8%V1.7%TSLA1.6%0Y0Y.L1.5%JNJ1.4%ABBV1.2%XOM1.2%QCOM1.1%COST1.0%INTU1.0%MRK1.0%CTSH1.0%108 more

AAPLApple8.1%NVDA7.1%MSFT6.5%GOOGL4.4%AMZN3.7%AVGO2.6%BRK-B2.1%METALLYMU V TSLA118 more

TechnologyFinancial ServicesHealthcareCommunication ServicesConsumer CyclicalOther

Fidelity FVAL · 130 holdings · tile size = share of the fund · as of Nov 9, 2026

What FVAL Holds

Today

Technology35.4%

AAPL 8.1 · NVDA 7.1 · MSFT 6.5 · AVGO 2.6 · MU 1.8 · 0Y0Y.L 1.5 · QCOM 1.1

Financial Services12.7%

BRK-B 2.1 · V 1.7 · WFC · C · TRV · COF · PYPL

Healthcare10.7%

LLY 2.0 · JNJ 1.4 · ABBV 1.2 · MRK 1.0 · GILD · PFE · REGN

Communication Services8.1%

GOOGL 4.4 · META 2.1 · NFLX · DIS · VZ · CMCSA

Consumer Cyclical7.5%

AMZN 3.7 · TSLA 1.6 · HD · MCD · LOW · BKNG · 0I1W.L

Industrials7.3%

RTX · DE · CAT · LMT · UPS · GD · FDX

Consumer Defensive4.7%

COST 1.0 · PG · MO · TGT · KR · KMB · ADM

Fidelity FVAL · share of the fund by sector · as of Nov 9, 2026

Apple’s Share of FVAL

Today

8.1%

$81 of every $1,000 in FVAL is Apple

Apple held by FVAL

$110M

Most Apple per dollar

GXPT22.3%

FTEC19.0%

IYW18.5%

MNZL17.5%

Fidelity FVAL · each square = $10 of $1,000 · as of Nov 9, 2026

FVAL’s Share of Value ETFs

Today

0.3%

of the $462B in 83 Value ETFs

FVAL$1.4B0.3%

VTV$184B39.9%

IWD$84.7B18.3%

80 others$192B41.5%

Value ETF AUM · Nov 10, 2026

FVAL Fee per $100 vs Peers

Today

$0.15a year
per $100

$15 a year on $10,000

VTV$0.03

IUSV$0.04

VONV$0.06

FVAL$0.15

IWD$0.18

DFAT$0.31

Expense ratio · Value peers · Nov 10, 2026

Inside FVAL

130 holdings · as of Nov 9, 2026

FVAL

Fidelity Value Factor ETF

Today

Technology35.4%AAPL8.1%NVDA7.1%MSFT6.5%AVGOMU 10 moreFinancial Services12.7%V WFCC TRV9 moreHealthcare10.7%LLYJNJABBVMRKGILDPFE6 moreCommunication Services8.1%GOOGL4.4%METAConsumer Cyclical7.5%AMZNTSLAIndustrials7.3%RTXDE CAT9 moreConsumer Defensive4.7%COSTPG Energy3.9%XOMNEMOC Other6.0%

#	Ticker	Company	Weight ▼
1	AAPL	Apple	8.06%
2	NVDA	Nvidia	7.13%
3	MSFT	Microsoft	6.49%
4	GOOGL	Alphabet	4.40%
5	AMZN	Amazon	3.74%
6	AVGO	Broadcom	2.56%
7	BRK-B	Berkshire Hathaway	2.15%
8	META	META Platforms	2.06%
9	LLY	ELI Lilly &	2.01%
10	MU	Micron Technology	1.76%

See all 137 holdings ↓

TechnologyFinancial ServicesHealthcareCommunication ServicesConsumer CyclicalIndustrialsConsumer DefensiveEnergyBasic MaterialsUtilitiesReal EstateOther

Fidelity FVAL · current holdings by weight · as of Nov 9, 2026 · each tile is one holding · top 20 = 53.1%

All FVAL Holdings

137 holdings · as of Nov 9, 2026

FVAL

FVAL’s Holdings

Today

#
1	AAPLApple	Technology	8.06%	$805.95	315K	$108.0M
2	NVDANvidia	Technology	7.13%	$713.50	512K	$95.6M
3	MSFTMicrosoft	Technology	6.49%	$648.56	164K	$86.9M
4	GOOGLAlphabet	Communication Services	4.40%	$440.26	207K	$59.0M
5	AMZNAmazon	Consumer Cyclical	3.74%	$374.49	194K	$50.2M
6	AVGOBroadcom	Technology	2.56%	$255.68	117K	$34.3M
7	BRK-BBerkshire Hathaway	Financial Services	2.15%	$214.68	50K	$28.8M
8	METAMETA Platforms	Communication Services	2.06%	$206.19	45K	$27.6M
9	LLYELI Lilly	Healthcare	2.01%	$201.36	20K	$27.0M
10	MUMicron Technology	Technology	1.76%	$175.62	34K	$23.5M
11	VVisa	Financial Services	1.69%	$168.79	54K	$22.6M
12	TSLATesla	Consumer Cyclical	1.59%	$159.39	60K	$21.4M
13	0Y0Y.LAccenture	Technology	1.49%	$149.13	77K	$20.0M
14	JNJJohnson & Johnson	Healthcare	1.41%	$140.97	68K	$18.9M
15	ABBVAbbvie	Healthcare	1.25%	$124.77	57K	$16.7M

Fidelity FVAL · every reported holding · per $10,000 = dollars of each holding in a $10,000 stake · as of Nov 9, 2026

How It Compares

FVAL

Fidelity Value Factor ETF’s Peers

Today


VTV	VanguardRead Desk	0.03%	+2.0%	+25.4%	$184.2B
IWD	iSharesRead Desk	0.18%	+2.0%	+31.3%	$84.7B
DFAT	DimensionalRead Desk	0.31%	+2.4%	+26.4%	$31.7B
IUSV	iSharesRead Desk	0.04%	+2.1%	+18.2%	$28.1B
VONV	VanguardRead Desk	0.06%	+2.0%	+31.5%	$21.7B
FVAL	FidelityThis fundRead Desk	0.15%	+1.4%	+19.5%	$1.4B

Value peers · Today’s and past-year returns · as of Nov 10, 2026 · sorted by AUM

Head to Head

Put FVAL head to head with VTV →

VTV vs FVAL

YTD

VTVVanguard · ValueFVALFidelity · Value

Year to date

+20.9%

+14.5%

VTV wins+6.4 pts

Past year

+25.4%

+19.5%

VTV wins+5.9 pts

Fee

0.03%

0.15%

VTV winslower fee

Yield

1.8%

1.5%

VTV wins+0.3 pts

AUM

$184B

$1.4B

VTV134.5× more

4–0VTV wins

Vanguard VTV and Fidelity FVAL · year-to-date · as of Nov 10, 2026 · AUM not scored

FVAL vs VOO

YTD

FVAL · Fidelity Value Factor

+14.5%

VOO · S&P 500

+11.3%

Gap

3.2 pts

Fidelity FVAL and Vanguard VOO · Today total return · as of Nov 10, 2026

FVAL vs Its Peer Average

YTD

FVALAvsBPeer average

1D+1.4%+2.0%

1M−0.6%+2.6%

3M−0.8%+0.3%

YTD+14.5%+18.8%

1Y+19.5%+24.3%

3Y+79.8%+75.1%

5Y+77.9%+73.3%

2–5Peer average wins

82 Value peers · each row scaled to its leader

How Bumpy Is FVAL?

View

FVAL

How Bumpy

0.9×the S&P 500’s swings

CalmerBumpierS&P 1×FVAL

Calm rank among 7 value funds#6

Other value funds0.8× to 1.1×

Fidelity FVAL · daily swings over the past year vs the S&P 500

FVAL

Worst Drop

−8.9%from its Feb 2 high

Still below the high−2.3%

$10,000 at the high is now$9,770

Fidelity FVAL · fall from the highest close, past year

FVAL

On a Bad Day

0.8×the S&P 500’s fall

FVAL’s worst day: Thursday, Nov 5

FVAL

−3.5%

S&P 500

−4.4%

Up days53 of every 100

S&P 500 up days52 of every 100

Fidelity FVAL · average move on days the S&P 500 fell

FVAL

Return for the Bumps

1Y#7 of 7 value funds

#1VONVVanguard

most for the bumps

#2IWDiShares

#3DFUVDimensional

#4VTVVanguard

#5DFATDimensional

#6IUSViShares

calmest ride

#7FVALFidelity

Ranked by return above cash for each unit of bumpiness (Sharpe ratio) · cash = 3.8%

FVAL

Cost

Today

$15a year per $10,000

VTV

IUSV

VONV

FVAL

$15

IWD

$18

DFUV

$21

DFAT

$31

Expense ratio 0.15%, taken from the fund’s value

FVAL

Volatility & Beta

12.4%annual volatility

S&P 500 volatility13.7%

Downside volatility8.5%

Beta vs SPY0.84

Correlation vs SPY0.93

Beta rank, lowest first, of 7#7

Daily total returns × √252 · past 254 trading days

FVAL

Max Drawdown

−8.9%peak to trough

Peak closeFeb 2, 2026

Current drawdown−2.3%

Worst day−3.48% · Nov 5

Closing prices, dividends in

FVAL

Up / Down Capture

82%down capture vs SPY

Down days

82%

Up days

90%

S&P 500

100%

Up ÷ down capture1.10

Up days52.8% (S&P 52.4%)

Average daily move on SPY up days and down days

FVAL

Sharpe & Sortino vs Peers

Fund	Sharpe	Sortino	Volatility	Max DD	Beta	Fee / $10k
VONV	2.38	3.76	11.7%	−6.8%	0.68	$6
IWD	2.37	3.73	11.7%	−6.8%	0.68	$18
DFUV	2.18	3.33	11.9%	−6.0%	0.69	$21
VTV	2.05	3.13	10.8%	−6.4%	0.56	$3
DFAT	1.50	2.40	14.8%	−9.6%	0.68	$31
IUSV	1.35	2.01	10.4%	−6.4%	0.58	$4
FVAL	1.16	1.70	12.4%	−8.9%	0.84	$15

Sharpe = (return − 3.8% cash) ÷ volatility · Sortino uses downside volatility only

FVAL

Trading

Today

−0.12%below its holdings’ value

Close$81.48

NAV$81.58

Fee per $10,000$15 a year

Avg. volume 30D43K shares

Premium / discount history starts once daily NAV is saved

Close vs net asset value, Nov 9

The Details

FVAL

Fund Facts

Today

2016launched Sep 12

Tracks[…]

Exchange · CUSIPAMEX · 316092782

StructureETF

Leverage1x

Cost on $10,000$15 a year

Go deeper

Prospectus & documents Trading & liquidity Fees & costs Distributions

Fidelity FVAL · fund facts · as of Nov 10, 2026

FVAL

Payouts by Year

11Y

$0.25per share, Sep 2026

Distribution yield1.5%

PaidEvery quarter

Latest ex-date · paidSep 18 · Sep 22, 2026

12 payouts added up$3.25 a share

Fidelity FVAL · distributions by ex-date · 2016–2026

All Fund FactsDocuments · trading · fees · every payout

Prospectus & Documents

Trading & Liquidity

Net asset value$81.58

Premium / discount[…]

Median spread · 30D[…]

Volume today62K

Average volume · 30D43K

Shares outstanding[…]

Options[…]

Fees & Costs

Net expense ratio0.15%

Gross expense ratio[…]

Management fee[…]

Cost on $10,000 a year$15.00

Our risk indicator4/5

Estimated yearly cost excludes trading costs and assumes constant assets.

Distributions

Ex-date	Paid	Per share
Sep 18, 2026	Sep 22, 2026	$0.25
Jun 18, 2026	Jun 23, 2026	$0.30
Mar 20, 2026	Mar 24, 2026	$0.30
Dec 19, 2025	Dec 23, 2025	$0.38
Sep 19, 2025	Sep 23, 2025	$0.28
Jun 20, 2025	Jun 24, 2025	$0.23
Mar 21, 2025	Mar 25, 2025	$0.28
Dec 20, 2024	Dec 24, 2024	$0.24
Sep 20, 2024	Sep 24, 2024	$0.25
Jun 21, 2024	Jun 25, 2024	$0.25
Mar 15, 2024	Mar 20, 2024	$0.25
Dec 15, 2023	Dec 20, 2023	$0.25

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