(FELG) Fidelity Covington Trust - Ratings and Ratios

Fidelity Covington Trust (FELG) is an ETF that tracks the large-cap growth segment of the US equity market, investing at least 80% of its assets in common stocks included in the Russell 1000 Growth Index. The fund employs a research-driven approach to identify long-term drivers of stock returns, focusing on factors such as valuation, growth, and quality.

As a non-diversified fund, FELGs portfolio is likely to be concentrated in a smaller number of holdings, which can result in higher volatility. To evaluate its performance, key metrics to consider include the funds tracking error, information ratio, and Sharpe ratio. Additionally, examining the funds sector allocation, industry exposure, and top holdings can provide insight into its investment strategy and potential areas of risk.

With an AUM of $3.86 billion, FELG has achieved a relatively stable liquidity profile. To further assess its investment merits, it is essential to analyze its returns relative to its benchmark, the Russell 1000 Growth Index, as well as its peer group within the Large Growth ETF category. Key performance indicators (KPIs) such as the funds 3-year and 5-year returns, expense ratio, and beta can help investors make informed decisions.

From a technical analysis perspective, FELGs price action can be evaluated using indicators such as the relative strength index (RSI) and Bollinger Bands. Examining the funds trading volume, average daily volume, and order book data can also provide insight into its liquidity and market sentiment.