Fidelity Covington Trust Etf Net Asset
| FELV Etf | 34.66 0.28 0.80% |
Fundamental analysis of Fidelity Covington allows traders to better anticipate movements in Fidelity Covington's stock price by examining its financial health and performance throughout various phases of its business cycle.
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Fidelity Covington Trust ETF Net Asset Analysis
Fidelity Covington's Net Asset is the current market value of a fund less its liabilities. In a nutshell, if the fund is liquidated or all of the assets is sold out, the net asset will be the amount that the shareholders would demand back from the fund.
Net Asset is the value used in calculating NAV of a fund. NAV (or Net Asset Value) is computed once a day based on the formula that uses closing prices of all positions in the fund's portfolio.
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Based on the recorded statements, Fidelity Covington Trust has a Net Asset of 0.0. This indicator is about the same for the average (which is currently at 0.0) family and about the same as Large Value (which currently averages 0.0) category. This indicator is about the same for all United States etfs average (which is currently at 0.0).
Fidelity Net Asset Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Fidelity Covington's direct or indirect competition against its Net Asset to detect undervalued stocks with similar characteristics or determine the etfs which would be a good addition to a portfolio. Peer analysis of Fidelity Covington could also be used in its relative valuation, which is a method of valuing Fidelity Covington by comparing valuation metrics of similar companies.Fidelity Covington is currently under evaluation in net asset as compared to similar ETFs.
Fidelity Fundamentals
| Beta | 0.83 | |||
| One Year Return | 15.90 % | |||
| Three Year Return | 14.30 % | |||
| Five Year Return | 12.70 % | |||
| Ten Year Return | 11.00 % |
About Fidelity Covington Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Fidelity Covington Trust's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Fidelity Covington using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Fidelity Covington Trust based on its fundamental data. In general, a quantitative approach, as applied to this etf, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Thematic Opportunities
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Check out Fidelity Covington Piotroski F Score and Fidelity Covington Altman Z Score analysis. You can also try the Content Syndication module to quickly integrate customizable finance content to your own investment portal.
The market value of Fidelity Covington Trust is measured differently than its book value, which is the value of Fidelity that is recorded on the company's balance sheet. Investors also form their own opinion of Fidelity Covington's value that differs from its market value or its book value, called intrinsic value, which is Fidelity Covington's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Fidelity Covington's market value can be influenced by many factors that don't directly affect Fidelity Covington's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Fidelity Covington's value and its price as these two are different measures arrived at by different means. Investors typically determine if Fidelity Covington is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Fidelity Covington's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.