(FELV) Fidelity Covington Trust - Ratings and Ratios

Fidelity Covington Trust (FELV) is an exchange-traded fund (ETF) designed for investors seeking exposure to large-cap value stocks within the U.S. equity market. The fund typically allocates at least 80% of its assets to common stocks listed in the Russell 1000® Value Index, which is a market-capitalization-weighted index. This index tracks the performance of large-cap companies that exhibit value characteristics, such as relatively low price-to-earnings and price-to-book ratios compared to the broader market.

The funds investment strategy is research-intensive, focusing on identifying long-term drivers of stock returns. While the primary considerations include valuation, growth prospects, and company quality, the adviser may also incorporate other factors into the selection process. This approach aims to balance rigorous fundamental analysis with the efficiencies of tracking a well-established index.

As of the latest data, Fidelity Covington Trust has approximately $2.26 billion in assets under management (AUM). The fund is listed on the NYSE Arca exchange under the ticker symbol FELV. It falls under the Large Value category of ETFs, targeting investors who seek to capitalize on the performance of established, undervalued companies in the U.S. market. While specific metrics like P/E, P/B, and P/S are not explicitly disclosed for the fund, its composition and strategy are designed to align with the broader value investment thesis.