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Fidelity Covington Trust - Fidelity U.S. Multifactor ETF (FLRG)
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Upturn Advisory Summary
10/24/2025: FLRG (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Analysis of Past Performance
Type ETF | Historic Profit 27.91% | Avg. Invested days 74 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  5.0 | ETF Returns Performance  4.0 |
| Profits based on simulation | Last Close 10/24/2025 |
Key Highlights
Volume (30-day avg) - | Beta 0.89 | 52 Weeks Range 28.88 - 35.77 | Updated Date 06/30/2025 |
52 Weeks Range 28.88 - 35.77 | Updated Date 06/30/2025 |
Upturn AI SWOT
Fidelity Covington Trust - Fidelity U.S. Multifactor ETF
ETF Overview
Overview
The Fidelity U.S. Multifactor ETF (FLRG) seeks to provide investment results that correspond to the performance of the Fidelity U.S. Multifactor Index. It focuses on U.S. equities and uses a multifactor model incorporating value, momentum, and quality factors to select stocks.
Reputation and Reliability
Fidelity is a well-established and reputable financial services company with a long history of managing investment products.
Management Expertise
Fidelity has a large team of experienced investment professionals dedicated to managing its ETF lineup.
Investment Objective
Goal
To provide investment results that correspond to the performance of the Fidelity U.S. Multifactor Index.
Investment Approach and Strategy
Strategy: The ETF aims to track the Fidelity U.S. Multifactor Index.
Composition The ETF primarily holds U.S. equities selected based on value, momentum, and quality factors.
Market Position
Market Share: Data unavailable to calculate exact market share.
Total Net Assets (AUM): 75900000
Competitors
Key Competitors
- IVV (iShares CORE S&P 500 ETF)
- SPY (SPDR S&P 500 ETF Trust)
- QUAL (iShares Edge MSCI USA Quality Factor ETF)
Competitive Landscape
The ETF market for U.S. equities is highly competitive, with numerous ETFs tracking various indices and employing different investment strategies. FLRG's multifactor approach offers a differentiated strategy, potentially appealing to investors seeking factor-based exposure. The advantage is that it may provide excess returns by selecting factors. However, it may be more volatile.
Financial Performance
Historical Performance: Historical performance data not available in the same format.
Benchmark Comparison: FLRG aims to track the Fidelity U.S. Multifactor Index; benchmark comparison data is typically found in the fund's fact sheet.
Expense Ratio: 0.0029
Liquidity
Average Trading Volume
FLRG has moderate average daily trading volume, indicating reasonable liquidity for most investors.
Bid-Ask Spread
The bid-ask spread for FLRG is typically low, reflecting adequate liquidity.
Market Dynamics
Market Environment Factors
Economic growth, interest rates, inflation, and investor sentiment can all influence the performance of U.S. equities and, consequently, FLRG.
Growth Trajectory
FLRG's growth trajectory depends on the performance of the U.S. stock market and the effectiveness of its multifactor investment strategy.
Moat and Competitive Advantages
Competitive Edge
FLRG benefits from Fidelity's brand recognition and extensive research capabilities. Its multifactor approach, emphasizing value, momentum, and quality, provides a systematic way to identify potentially undervalued and high-performing stocks. The ETF's relatively low expense ratio is also a competitive advantage. It offers exposure to factors that have historically delivered above-market returns.
Risk Analysis
Volatility
The ETF's volatility is expected to be similar to that of the broader U.S. equity market but may be higher or lower depending on the factor exposures at any given time.
Market Risk
FLRG is subject to market risk, meaning the value of its holdings can decline due to overall market downturns or negative news affecting specific sectors or companies.
Investor Profile
Ideal Investor Profile
FLRG is suitable for investors seeking diversified exposure to U.S. equities with a multifactor approach, aiming to potentially outperform the broader market over the long term.
Market Risk
FLRG can be suitable for long-term investors who understand factor investing and are comfortable with moderate volatility.
Summary
Fidelity U.S. Multifactor ETF (FLRG) offers exposure to the U.S. equity market using a multifactor strategy, focusing on value, momentum, and quality. The ETF is managed by Fidelity, a reputable investment firm, and has a low expense ratio. FLRG is suitable for long-term investors seeking potential outperformance through factor-based investing. The ETF's performance will depend on the overall market conditions and the effectiveness of its multifactor model.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Fidelity Investments Website
- ETF.com
- Bloomberg
Disclaimers:
The data provided is for informational purposes only and should not be considered investment advice. Investment decisions should be made based on individual circumstances and consultation with a qualified financial advisor. Market share is an estimation as exact figures can fluctuate.
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 Covington Trust - Fidelity U.S. Multifactor ETF
Exchange NYSE ARCA | Headquaters - | ||
IPO Launch date - | CEO - | ||
Sector - | Industry - | Full time employees - | Website |
Full time employees - | Website | ||
The fund normally invests at least 80% of its assets in securities included in the Fidelity U.S. Multifactor Index". The Fidelity U.S. Multifactor Index" is designed to reflect the performance of stocks of large and mid-capitalization U.S. companies with attractive valuations, high quality profiles, positive momentum signals, and lower volatility than the broader market.
Note: This website is maintained by Upturn Corporation, which is an investment adviser registered with the U.S. Securities and Exchange Commission. Such registration does not imply a certain level of skill or training. Investing in securities has risks. Past performance is no guarantee of future returns. No assurance is provided as to any particular investment return, and you may lose money using our services. You are strongly advised to consult appropriate counsel before making any investments in companies you learn about through our services. You should obtain appropriate legal, tax, investment, accounting, and other advice that takes into account your investment portfolio and overall financial situation. You are solely responsible for conducting due diligence on a potential investment. We do not affect trades for you. You will select your own broker through which to transact. Investments are not FDIC insured, they are not guaranteed, and they may lose value. Please see the Privacy Policy, Terms of Use, and Disclosure for more information.