Fidelity Value Factor ETF (FVAL) Performance
FVAL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +15.1% since Dec 31, 2025
- 1 year
- +20.1% total return
- 5 years
- +12.4% a year
- 10 years
- +14.5% a year
- Since first price
- +14.4% a year since 2016
FVAL trailing returns vs SPY, QQQ, AGG
| Period | FVAL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +0.8% | +0.8% | −1.0% | −5.0% | +0.9% |
| 3 months | +4.6% | +4.3% | +3.2% | +1.9% | −0.4% |
| 6 months | +10.7% | +10.0% | +7.8% | +8.4% | −1.5% |
| YTD | +15.1% | +13.9% | +12.3% | +15.1% | −1.0% |
| 1 year | +20.1% | +18.2% | +14.4% | +15.9% | −1.1% |
| 3 years | +85.4%+22.8%/yr | +76.3% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +79.1%+12.4%/yr | +64.4% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +288.1%+14.5%/yr | +225.2% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| Since inceptionSep 15, 2016 | +288.7%+14.4%/yr | +225.7% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: FVAL vs SPY
From Sep 15, 2016: FVAL grew to $38,874, SPY to $41,546.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FVAL returns by calendar year
7 of 9 full years positive. Best 2021 (+30.3%), worst 2022 (−14.4%). 2026 is year to date.
FVAL annual returns table
| Year | FVAL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +15.1% | −8.9% | +12.3% | +15.1% | −1.0% |
| 2025 | +19.6% | −18.4% | +17.7% | +20.8% | +7.2% |
| 2024 | +18.0% | −7.8% | +24.9% | +25.6% | +1.3% |
| 2023 | +23.1% | −10.0% | +26.2% | +54.9% | +5.7% |
| 2022 | −14.4% | −23.4% | −18.2% | −32.6% | −13.0% |
| 2021 | +30.3% | −5.1% | +28.7% | +27.4% | −1.8% |
| 2020 | +9.1% | −37.3% | +18.3% | +48.6% | +7.5% |
| 2019 | +30.3% | −8.2% | +31.2% | +39.0% | +8.5% |
| 2018 | −7.9% | −19.7% | −4.6% | −0.1% | +0.1% |
| 2017 | +22.5% | −3.8% | +21.7% | +32.7% | +3.6% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
FVAL largest drawdowns
Now 1.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 12, 2020 | −37.3% | Mar 23, 2020 | Nov 16, 2020 | 40 days | 9 months |
| Jan 4, 2022 | −23.4% | Sep 30, 2022 | Dec 11, 2023 | 9 months | 1.9 years |
| Sep 21, 2018 | −19.7% | Dec 24, 2018 | Jul 12, 2019 | 3 months | 10 months |
| Feb 18, 2025 | −18.4% | Apr 8, 2025 | Jul 3, 2025 | 49 days | 4 months |
| Jan 26, 2018 | −10.8% | Mar 23, 2018 | Aug 27, 2018 | 56 days | 7 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FVAL risk statistics
| Statistic | 3 years | 5 years | 10 years |
|---|---|---|---|
| Annualized return | +21.1% | +13.1% | +14.2% |
| Volatility (annualized) | 12.3% | 15.4% | 16.2% |
| Sharpe ratio | 1.28 | 0.64 | 0.76 |
| Sortino ratio | 2.45 | 1.02 | 1.16 |
| Best month | +9.6% | +10.4% | +13.8% |
| Worst month | −4.8% | −10.2% | −16.4% |
| Best 12 months | +33.3% | +33.3% | +61.9% |
| Worst 12 months | +6.2% | −14.5% | −14.5% |
| Positive months | 69% | 62% | 68% |
| Beta vs S&P 500 | 0.94 | 0.95 | 1.02 |
| Correlation with S&P 500 | 0.95 | 0.96 | 0.97 |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
FVAL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 110 | −14.5% | +15.4% | +61.9% | 85% |
| 3-year (a year) | 86 | +1.4% | +12.2% | +22.9% | 100% |
| 5-year (a year) | 62 | +7.6% | +13.0% | +18.2% | 100% |
| 10-year (a year) | 2 | +14.2% | +14.4% | +14.5% | 100% |
Every holding period starting at a month-end since 2016. Returns for 3 years and longer are annualized.
FVAL performance overview
Fidelity Value Factor ETF (FVAL) returned +20.1% over the past year and +14.5% a year over ten years, with distributions reinvested. Since its first recorded price in 2016 it has returned +14.4% a year, turning $10,000 into about $38,874. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −37.3%, from Feb 12, 2020 to Mar 23, 2020, and it took 8 months to get back to the old high. FVAL finished 7 of its 9 full calendar years with a gain; the best year was 2021 (+30.3%) and the worst 2022 (−14.4%). Volatility has been 16.2% a year.
Related: FVAL chart, FVAL holdings, FVAL dividends, FVAL valuation. See the FVAL overview for the latest quote and fund facts.
FVAL performance FAQ
What is the FVAL return over the past year?
FVAL returned +20.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 18.2%.
What is the average annual return of FVAL?
FVAL has returned +12.4% a year over 5 years, +14.5% a year over 10 years, +14.4% a year since September 15, 2016 (total return, distributions reinvested).
How much would $10,000 invested in FVAL be worth?
$10,000 invested in FVAL at its first recorded close on September 15, 2016 would be worth about $38,874 on October 23, 2026 with distributions reinvested.
What was the worst year for FVAL?
The worst calendar year was 2022, with a total return of −14.4%. The best was 2021 at +30.3%.
What is the biggest drawdown of FVAL?
The largest peak-to-trough decline was −37.3% between February 12, 2020 and March 23, 2020. It recovered to the old high on November 16, 2020, 8 months after the bottom.
How volatile is FVAL?
Over the past 3 years FVAL had an annualized volatility of 12.3% and a Sharpe ratio of 1.28 (excess return over 1–3 month T-bills per unit of risk).