FidelityUS Stock StylesValue#232 of 701 by YTD

Fidelity Value Factor ETFFVAL

1D 1M 3M YTD 1Y 3Y 5Y MAX

S&P 500 Compare

$80.35−0.2%

−$0.17 · Nov 6 close

Buy

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

Bumpy · 1Y: 0.9×S&P
Volume: 93K
NAV: $80.25

What's insideAll 137 →

AAPL 8.1%NVDA 6.9%MSFT 6.5%GOOGL 4.4%

52-week range4% below the high

$67.20$83.71

Returns	1D	1M	3M	YTD	1Y	3Y	5Y	MAX
Total return	−0.2%	−2.2%	−3.1%	+12.4%	+16.0%	+79.8%	+75.4%	+279.9%
Peer average	−0.5%	+0.9%	−1.7%	+16.4%	+20.9%	+74.1%	+70.1%	—
S&P 500 · VOO	+0.3%	−5.0%	−4.6%	+8.7%	+9.8%	+80.8%	+71.8%	—

FVAL in One Breath

FVAL Among Value ETFs

YTD

#1VLUEiShares+34.9%$8.9B

#2QVALAlpha Architect+29.9%$710M

#3IWXiShares+24.7%$4.0B

#4VONVVanguard+23.8%$21.7B

#5FBCVFidelity+23.7%$199M

#6IWDiShares+23.7%$82.9B

#7TVALT. Rowe Price+22.9%$1.1B

#8LVDSJ.P. Morgan+22.9%$119M

#58FVALFidelity+12.4%$1.4B

End-of-day Nov 8, 2026 · 77 Value ETFs by YTD

$10,000 in FVAL

$10,000 in FVAL became

$17,544

In the S&P 500 (VOO)

$17,177

Total return, dividends in · Oct 29, 2021 – Nov 6, 2026 · S&P 500 uses VOO

FVAL’s Top Holdings

Today

AAPLApple8.1%NVDA6.9%MSFT6.5%GOOGL4.4%AMZN3.7%AVGO2.5%BRK-B2.1%META2.0%LLY2.0%V1.7%MU1.7%TSLA1.5%0Y0Y.L1.5%JNJ1.4%ABBV1.2%XOM1.2%INTU1.1%QCOM1.0%COST1.0%CTSH1.0%MRK1.0%108 more

AAPLApple8.1%NVDA6.9%MSFT6.5%GOOGL4.4%AMZN3.7%AVGO2.5%BRK-B2.1%METALLYV MU TSLA118 more

TechnologyFinancial ServicesHealthcareCommunication ServicesConsumer CyclicalOther

Fidelity FVAL · 130 holdings · tile size = share of the fund · as of Nov 6, 2026

What FVAL Holds

Today

Technology35.2%

AAPL 8.1 · NVDA 6.9 · MSFT 6.5 · AVGO 2.5 · MU 1.7 · 0Y0Y.L 1.5 · INTU 1.1

Financial Services12.8%

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

Healthcare10.7%

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

Communication Services8.1%

GOOGL 4.4 · META 2.0 · NFLX · DIS · VZ · CMCSA

Consumer Cyclical7.5%

AMZN 3.7 · TSLA 1.5 · HD · MCD · LOW · BKNG · GM

Industrials7.4%

RTX · DE · CAT · LMT · UPS · FDX · GD

Consumer Defensive4.8%

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

Fidelity FVAL · share of the fund by sector · as of Nov 6, 2026

Apple’s Share of FVAL

Today

8.1%

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

Apple held by FVAL

$111M

Most Apple per dollar

GXPT22.7%

FTEC19.4%

IYW18.8%

MNZL17.7%

Fidelity FVAL · each square = $10 of $1,000 · as of Nov 6, 2026

FVAL’s Share of Value ETFs

Today

0.3%

of the $459B in 84 Value ETFs

FVAL$1.4B0.3%

VTV$184B40.2%

IWD$82.9B18.1%

81 others$190B41.5%

Value ETF AUM · Nov 8, 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 8, 2026

Inside FVAL

130 holdings · as of Nov 6, 2026

FVAL

Fidelity Value Factor ETF

Today

Technology35.2%AAPL8.1%NVDA6.9%MSFT6.5%AVGOMU 10 moreFinancial Services12.8%V WFCC TRV9 moreHealthcare10.7%LLYJNJABBVMRKGILDPFE6 moreCommunication Services8.1%GOOGL4.4%METAConsumer Cyclical7.5%AMZNTSLAHD Industrials7.4%RTXDE CAT9 moreConsumer Defensive4.8%COSTPG Energy3.9%XOMFSLROC NEMOther6.0%

#	Ticker	Company	Weight ▼
1	AAPL	Apple	8.08%
2	NVDA	Nvidia	6.93%
3	MSFT	Microsoft	6.54%
4	GOOGL	Alphabet	4.36%
5	AMZN	Amazon	3.75%
6	AVGO	Broadcom	2.53%
7	BRK-B	Berkshire Hathaway	2.15%
8	META	META Platforms	2.04%
9	LLY	ELI Lilly &	2.03%
10	V	Visa	1.68%

See all 137 holdings ↓

TechnologyFinancial ServicesHealthcareCommunication ServicesConsumer CyclicalIndustrialsConsumer DefensiveEnergyBasic MaterialsUtilitiesReal EstateOther

Fidelity FVAL · current holdings by weight · as of Nov 6, 2026 · each tile is one holding · top 20 = 52.7%

All FVAL Holdings

137 holdings · as of Nov 6, 2026

FVAL

FVAL’s Holdings

Today

#
1	AAPLApple	Technology	8.08%	$808.44	315K	$108.6M
2	NVDANvidia	Technology	6.93%	$692.73	512K	$93.0M
3	MSFTMicrosoft	Technology	6.54%	$653.65	164K	$87.8M
4	GOOGLAlphabet	Communication Services	4.36%	$435.90	207K	$58.5M
5	AMZNAmazon	Consumer Cyclical	3.75%	$374.99	194K	$50.4M
6	AVGOBroadcom	Technology	2.53%	$253.26	117K	$34.0M
7	BRK-BBerkshire Hathaway	Financial Services	2.15%	$214.75	50K	$28.8M
8	METAMETA Platforms	Communication Services	2.04%	$204.04	45K	$27.4M
9	LLYELI Lilly	Healthcare	2.03%	$202.52	20K	$27.2M
10	VVisa	Financial Services	1.68%	$168.40	54K	$22.6M
11	MUMicron Technology	Technology	1.67%	$166.71	34K	$22.4M
12	TSLATesla	Consumer Cyclical	1.53%	$152.59	60K	$20.5M
13	0Y0Y.LAccenture	Technology	1.51%	$151.47	77K	$20.3M
14	JNJJohnson & Johnson	Healthcare	1.39%	$138.68	68K	$18.6M
15	ABBVAbbvie	Healthcare	1.23%	$123.19	57K	$16.5M

Fidelity FVAL · every reported holding · per $10,000 = dollars of each holding in a $10,000 stake · as of Nov 6, 2026

How It Compares

FVAL

Fidelity Value Factor ETF’s Peers

YTD


VTV	VanguardRead Desk	0.03%	+18.5%	+22.9%	$184.2B
IWD	iSharesRead Desk	0.18%	+23.7%	+28.0%	$82.9B
DFAT	DimensionalRead Desk	0.31%	+16.6%	+22.1%	$30.8B
IUSV	iSharesRead Desk	0.04%	+12.4%	+15.1%	$28.2B
VONV	VanguardRead Desk	0.06%	+23.8%	+28.2%	$21.7B
FVAL	FidelityThis fundRead Desk	0.15%	+12.4%	+16.0%	$1.4B

Value peers · YTD and past-year returns · as of Nov 9, 2026 · sorted by AUM

Head to Head

Put FVAL head to head with VTV →

VTV vs FVAL

YTD

VTVVanguard · ValueFVALFidelity · Value

Year to date

+18.5%

+12.4%

VTV wins+6.1 pts

Past year

+22.9%

+16.0%

VTV wins+6.8 pts

Fee

0.03%

0.15%

VTV winslower fee

Yield

1.9%

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 9, 2026 · AUM not scored

FVAL vs VOO

YTD

FVAL · Fidelity Value Factor

+12.4%

VOO · S&P 500

+8.7%

Gap

3.7 pts

Fidelity FVAL and Vanguard VOO · YTD total return · as of Nov 9, 2026

FVAL vs Its Peer Average

YTD

FVALAvsBPeer average

1D−0.2%−0.5%

1M−2.2%+0.9%

3M−3.1%−1.7%

YTD+12.4%+16.4%

1Y+16.0%+20.9%

3Y+79.8%+74.1%

5Y+75.4%+70.1%

3–4Peer average wins

83 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−3.7%

$10,000 at the high is now$9,630

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 days52 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

#3PVALFranklin Templeton

#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

DFAT

$31

PVAL

$56

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

FVAL

Volatility & Beta

12.4%annual volatility

S&P 500 volatility13.6%

Downside volatility8.6%

Beta vs SPY0.85

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−3.7%

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 capture1.11

Up days52.4% (S&P 52.0%)

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	2.12	3.29	11.6%	−6.8%	0.68	$6
IWD	2.11	3.27	11.5%	−6.8%	0.68	$18
PVAL	1.95	3.00	11.4%	−7.2%	0.66	$56
VTV	1.81	2.74	10.6%	−6.4%	0.55	$3
DFAT	1.25	1.97	14.6%	−9.6%	0.68	$31
IUSV	1.09	1.59	10.2%	−6.4%	0.57	$4
FVAL	0.94	1.36	12.4%	−8.9%	0.85	$15

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

FVAL

Trading

Today

+0.12%above its holdings’ value

Close$80.35

NAV$80.25

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 6

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 9, 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$80.25

Premium / discount[…]

Median spread · 30D[…]

Volume today93K

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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