(FELC) Fidelity Covington Trust - Ratings and Ratios

Fidelity Covington Trust (NYSE ARCA:FELC) is designed for investors seeking exposure to the U.S. large-cap equity market through a research-intensive strategy. The fund typically allocates at least 80% of its assets to common stocks within the S&P 500 Index, a benchmark that represents the performance of 500 leading companies in the U.S. equity market, weighted by market capitalization.

The S&P 500 is renowned for its broad market representation, capturing approximately 80% of the available market capitalization in the U.S. equities. This market cap-weighted approach means larger companies have a more significant influence on the indexs performance. The funds adviser employs a meticulous research process to identify potential long-term drivers of stock returns, focusing on factors such as valuation, growth prospects, and company quality, among others.

While the funds primary focus is on S&P 500 constituents, it retains the flexibility to invest up to 20% of its assets in other securities, allowing for some diversification beyond the index. This approach balances adherence to the index with the potential for strategic adjustments. The funds structure as an ETF offers the benefits of transparency and tradability throughout the trading day.

Ticker Symbol: FELC
Exchange: NYSE ARCA
Type: ETF
Country Origin: USA
ETF Category: Large Blend

Market Cap or AUM: 4585.57M USD
P/E: None
P/E Forward: None
P/B: None
P/S: None