Fidelity Low Volatility Factor ETF (FDLO) Valuation
FDLO valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 24.5 trailing earnings
- Forward P/E
- 19.6 analyst estimates
- Price / sales
- 3.77
- Price / book
- 5.19
- EV / EBITDA
- 16.2
- Earnings yield
- 4.09% inverse of P/E
- Dividend yield
- 1.39% of the holdings
- Return on equity
- 21.2% combined
- Net margin
- 15.4% combined
- Beta
- 0.84 weighted, vs S&P 500
FDLO valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FDLO | 24.5 | 19.6 | 3.77 | 5.19 | 1.39% | 21.2% | 15.4% | 0.9% |
| SPY | 25.9 | 19.9 | 3.67 | 5.47 | 1.08% | 21.1% | 14.2% | 1.9% |
| QQQ | 34.2 | 23.4 | 5.93 | 9.27 | 0.58% | 27.1% | 17.4% | 6.9% |
| DIA | 20.9 | 18.4 | 3.16 | 5.52 | 1.55% | 26.4% | 15.1% | 0.0% |
| VTI | 28.2 | 19.4 | 3.31 | 5.00 | 1.07% | 17.7% | 11.8% | 4.6% |
| IWM | n/m | 13.9 | 1.25 | 2.03 | 1.38% | −1.7% | −1.0% | 28.1% |
Same method for every fund. n/m = not meaningful (combined trailing earnings below zero or close to it). Loss-makers = weight of holdings with negative trailing earnings.
FDLO valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 37.7% | 30.6 | 22.5 | 6.99 | 8.09 | 1.07% | 26.4% |
| Financial Services | 12.4% | 16.2 | 15.0 | 3.48 | 2.62 | 1.20% | 16.2% |
| Healthcare | 10.0% | 40.8 | 18.3 | 2.34 | 6.65 | 1.67% | 16.3% |
| Communication Services | 8.9% | 16.5 | 17.5 | 3.96 | 4.34 | 1.07% | 26.3% |
| Consumer Cyclical | 8.6% | 22.1 | 21.1 | 2.61 | 8.23 | 1.04% | 37.3% |
| Industrials | 8.3% | 24.8 | 22.7 | 3.19 | 5.74 | 1.57% | 23.1% |
| Consumer Defensive | 4.7% | 29.4 | 23.9 | 2.29 | 9.85 | 2.24% | 33.5% |
| Energy | 3.6% | 20.0 | 12.3 | 2.03 | 2.66 | 2.46% | 13.3% |
| Utilities | 2.0% | 19.3 | 16.4 | 3.07 | 1.96 | 3.32% | 10.1% |
| Real Estate | 1.8% | 28.4 | 25.8 | 8.96 | 2.76 | 4.10% | 9.7% |
| Basic Materials | 1.6% | 28.5 | 19.4 | 4.77 | 5.49 | 1.37% | 19.3% |
FDLO earnings yield vs bond yields
Earnings yield = earnings ÷ price (1 ÷ P/E). The gap to bond yields is a rough gauge of the extra return stocks are priced to deliver.
How FDLO weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FDLO largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| AAPL | Apple Inc. | 8.64% | 39.4 | 35.2 | 10.7 | 0.31% | 5.40% |
| MSFT | Microsoft Corporation | 6.55% | 29.5 | 25.1 | 11.8 | 0.74% | 5.47% |
| GOOGL | Alphabet Inc. | 5.00% | 17.1 | 22.8 | 9.3 | 0.26% | 7.21% |
| AMZN | Amazon.com, Inc. | 3.52% | 20.1 | 23.6 | 3.5 | — | 4.31% |
| AVGO | Broadcom Inc. | 3.20% | 43.3 | 19.4 | 17.6 | 0.79% | 1.82% |
| META | Meta Platforms, Inc. | 2.21% | 26.7 | 22.1 | 7.9 | 0.30% | 2.04% |
| ACN | Accenture plc | 2.07% | 16.9 | 12.4 | 1.9 | 2.98% | 3.00% |
| LLY | Eli Lilly and Company | 1.86% | 42.2 | 24.4 | 14.1 | 0.55% | 1.08% |
| BRK.B | Berkshire Hathaway Inc. | 1.73% | 13.4 | 22.7 | 3.0 | — | 3.18% |
| CSCO | Cisco Systems, Inc. | 1.71% | 32.2 | 19.8 | 6.7 | 1.56% | 1.30% |
| TXN | Texas Instruments Incorporated | 1.66% | 42.1 | 27.5 | 13.0 | 2.20% | 0.97% |
| JPM | JPMorgan Chase & Co. | 1.66% | 14.2 | 13.5 | 4.7 | 1.94% | 2.86% |
| IBM | International Business Machines Corporation | 1.64% | 20.6 | 17.4 | 3.2 | 2.91% | 1.96% |
| INTU | Intuit Inc. | 1.53% | 19.8 | 12.7 | 4.1 | 1.70% | 1.91% |
| ADI | Analog Devices, Inc. | 1.53% | 47.0 | 23.2 | 13.8 | 1.11% | 0.80% |
| ROP | Roper Technologies, Inc. | 1.44% | 15.9 | 15.0 | 4.6 | 0.95% | 2.23% |
| MSI | Motorola Solutions, Inc. | 1.42% | 36.5 | 23.9 | 6.3 | 1.05% | 0.96% |
| VRSN | VeriSign, Inc. | 1.37% | 32.7 | 27.0 | 16.0 | 1.07% | 1.03% |
| V | Visa Inc. | 1.33% | 34.3 | 24.0 | 17.0 | 0.67% | 0.96% |
| APH | Amphenol Corporation | 1.30% | 39.7 | 24.6 | 6.7 | 0.63% | 0.81% |
| CDNS | Cadence Design Systems, Inc. | 1.26% | 63.5 | 31.5 | 15.1 | — | 0.49% |
| JNJ | Johnson & Johnson | 1.21% | 38.8 | 21.0 | 6.2 | 2.10% | 0.77% |
| XOM | Exxon Mobil Corporation | 1.15% | 23.0 | 14.8 | 2.0 | 2.30% | 1.23% |
| TDY | Teledyne Technologies Incorporated | 1.15% | 29.9 | 23.6 | 4.5 | — | 0.95% |
| MA | Mastercard Incorporated | 1.12% | 34.0 | 24.2 | 15.4 | 0.56% | 0.81% |
Share of earnings = the holding's part of the fund's combined trailing profit. Green: earns more than its weight; orange: less. Symbol links go to each company's key metrics.
About FDLO valuation
Adding up its 129 holdings with company data, FDLO trades at 24.5 times trailing earnings and 19.6 times analysts' forward estimates, with a price-to-book ratio of 5.19 and a dividend yield of 1.39%. Its earnings yield of 4.09% is 1.24 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 36.5% of the fund and earn 34.8% of its combined profit. By sector, Healthcare is the most expensive at 40.8 times earnings and Financial Services the cheapest at 16.2. Companies that lost money over the past year are 0.9% of the covered weight.
How these figures are calculated. Each ratio treats the fund as one company: the earnings, sales and book value of every holding are added up in proportion to its weight and divided into the fund's price. In practice that is a weighted harmonic mean, so a single stock with a very high P/E cannot distort the result, and loss-making companies reduce the fund's earnings instead of being dropped. Covers 99.8% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FDLO chart, FDLO performance, FDLO holdings, FDLO dividends.
FDLO valuation FAQ
What is the P/E ratio of FDLO?
Based on its holdings, FDLO has a trailing P/E of 24.5 and a forward P/E of 19.6 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of FDLO?
The trailing earnings yield is 4.09% (1 ÷ P/E) and the forward earnings yield 5.11%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FDLO more expensive than the S&P 500?
FDLO trades at 24.5 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 19.6 and 19.9.
What is the price-to-book ratio of FDLO?
The holdings of FDLO trade at 5.19 times book value, with a combined return on equity of 21.2%.
Which sector in FDLO has the highest P/E?
Healthcare has the highest P/E at 40.8 and Financial Services the lowest at 16.2.