(FRNW) Fidelity Covington Trust - Overview
Etf: Solar, Wind, Hydrogen, Renewable, Technology
Dividends
| Dividend Yield | 1.52% |
| Yield on Cost 5y | 1.04% |
| Yield CAGR 5y | 19.19% |
| Payout Consistency | 96.3% |
| Payout Ratio | - |
| Risk 5d forecast | |
|---|---|
| Volatility | 27.5% |
| Relative Tail Risk | -1.08% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 2.05 |
| Alpha | 60.37 |
| Character TTM | |
|---|---|
| Beta | 0.822 |
| Beta Downside | 0.814 |
| Drawdowns 3y | |
|---|---|
| Max DD | 48.09% |
| CAGR/Max DD | 0.03 |
Description: FRNW Fidelity Covington Trust January 06, 2026
The Fidelity Clean Energy ETF (FRNW) is required to allocate at least 80% of its net assets to securities-and their corresponding depository receipts-that are constituents of its underlying index. That index tracks a global set of companies, spanning all market-capitalization tiers, which are involved in the generation, distribution, or technology/equipment provision for solar, wind, hydrogen, and other renewable-energy sources.
As of the most recent filing, FRNW carries an expense ratio of 0.55% and manages roughly $1.2 billion in assets. Its top holdings typically include Enphase Energy, Vestas Wind Systems, and Plug Power, reflecting a blend of solar-inverter, wind-turbine, and hydrogen-fuel-cell exposure. Key sector drivers are accelerating policy incentives (e.g., the U.S. Inflation Reduction Act), continued cost declines in solar PV modules-now under $0.20 /W-and a projected 10% year-over-year increase in global renewable-capacity additions in 2023, which together underpin demand for the ETF’s underlying companies.
For a deeper quantitative breakdown, you might explore ValueRay’s analyst toolkit.
What is the price of FRNW shares?
Over the past week, the price has changed by +1.60%, over one month by +6.92%, over three months by +5.46% and over the past year by +72.96%.
Is FRNW a buy, sell or hold?
What are the forecasts/targets for the FRNW price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | - | - |
| Analysts Target Price | - | - |
| ValueRay Target Price | 27.3 | 19.4% |
FRNW Fundamental Data Overview February 04, 2026
EBIT TTM = 0.0 USD
EBITDA TTM = 0.0 USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = unknown
Net Debt = unknown
Enterprise Value = 51.8m USD (51.8m + (null Debt) - (null CCE))
Interest Coverage Ratio = unknown (Ebit TTM 0.0 / Interest Expense TTM 0.0)
EV/FCF = unknown (FCF TTM 0.0)
FCF Yield = 0.0% (FCF TTM 0.0 / Enterprise Value 51.8m)
FCF Margin = unknown (Revenue TTM is 0 or missing)
Net Margin = unknown
Gross Margin = unknown ((Revenue TTM 0.0 - Cost of Revenue TTM 0.0) / Revenue TTM)
Tobins Q-Ratio = unknown (Enterprise Value 51.8m / Total Assets none)
Interest Expense / Debt = unknown (Interest Expense 0.0 / Debt none)
Taxrate = 21.0% (US default 21%)
NOPAT = 0.0 (EBIT 0.0 * (1 - 21.00%))
Current Ratio = unknown (Total Current Assets none / Total Current Liabilities none)
Debt / Equity = unknown (Debt none)
Debt / EBITDA = unknown (Net Debt none / EBITDA 0.0)
Debt / FCF = unknown (Net Debt none / FCF TTM 0.0)
Total Stockholder Equity = 0.0 (from calculated bookValueOfEquity)
RoA = unknown (Net Income 0.0 / Total Assets none)
RoE = unknown (Net Income TTM 0.0 / Total Stockholder Equity 0.0)
RoCE = unknown (EBIT 0.0 / Capital Employed )
RoIC = unknown (NOPAT 0.0, Invested Capital 0.0, EBIT 0.0)
WACC = 8.94% (E(51.8m)/V(51.8m) * Re(8.94%) + (debt-free company))
Discount Rate = 8.94% (= CAPM, Blume Beta Adj.)
Fair Price DCF = unknown (Cash Flow 0.0)