{"id":13777,"date":"2023-05-25T15:43:32","date_gmt":"2023-05-25T19:43:32","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/fbcv-etf-a-value-etf-lacking-of-transparency-batsfbcv\/"},"modified":"2023-05-25T15:43:34","modified_gmt":"2023-05-25T19:43:34","slug":"fbcv-etf-a-value-etf-lacking-of-transparency-batsfbcv","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=13777","title":{"rendered":"FBCV ETF: A Value ETF Lacking Of Transparency (BATS:FBCV)"},"content":{"rendered":"
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This article series aims at evaluating exchange-traded funds (ETFs) regarding the relative past performance of their strategies and metrics of their current portfolios. As holdings change over time, updated reviews are posted from time to time.<\/em><\/p>\n

FBCV strategy and portfolio<\/span><\/strong><\/h2>\n

Fidelity Blue Chip Value ETF (BATS:FBCV<\/span>) is an actively managed ETF launched on 06\/02\/2020. It has a 12-month distribution yield of 1.39%, a total expense ratio of 0.59% and net assets of $135M. Distributions are paid quarterly. As described in the prospectus by Fidelity, the fund is different from traditional ETFs:<\/p>\n

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It is not required to publicly disclose its complete portfolio holdings each business day. Instead, the fund publishes each business day on its website a “Tracking Basket,” which is designed to closely track the daily performance of the fund but is not the fund’s actual portfolio.<\/em><\/p>\n<\/blockquote>\n

FBCV invests in companies that are undervalued “<\/span>in relation to factors such as assets, sales, earnings, growth potential, or cash flow, or in relation to securities of other companies in the same industr<\/em>y.<\/em>“<\/span><\/p>\n

The current tracking basket, which is visible on this link, has a weight overlap of 80% with the real portfolio. The portfolio turnover rate was 54% during the most recent fiscal year.<\/p>\n

FBCV benchmark is the Russell 1000 Value Index. In this article, it will be compared to the iShares Russell 1000 Value ETF (IWD), and also to the SPDR S&P 500 ETF Trust (SPY). The usual valuation ratios are reported in the next table.<\/p>\n

<\/span><\/p>\n\n\n\n\n\n\n
<\/td>\n\n

FBCV<\/p>\n<\/td>\n

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IWD<\/p>\n<\/td>\n

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SPY<\/p>\n<\/td>\n<\/tr>\n

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Price \/ Earnings TTM<\/p>\n<\/td>\n

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15.26<\/p>\n<\/td>\n

\n

15.93<\/p>\n<\/td>\n

\n

21.21<\/p>\n<\/td>\n<\/tr>\n

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Price \/ Book<\/p>\n<\/td>\n

\n

2.1<\/p>\n<\/td>\n

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2.22<\/p>\n<\/td>\n

\n

3.77<\/p>\n<\/td>\n<\/tr>\n

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Price \/ Sales<\/p>\n<\/td>\n

\n

1.43<\/p>\n<\/td>\n

\n

1.66<\/p>\n<\/td>\n

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2.4<\/p>\n<\/td>\n<\/tr>\n

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Price \/ Cash Flow<\/p>\n<\/td>\n

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10.25<\/p>\n<\/td>\n

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11.41<\/p>\n<\/td>\n

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15.29<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

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