Fidelity Fundamental Large Cap Core ETF (FFLC) Valuation
FFLC valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 25.7 trailing earnings
- Forward P/E
- 19.0 analyst estimates
- Price / sales
- 3.05
- Price / book
- 5.34
- EV / EBITDA
- 15.5
- Earnings yield
- 3.88% inverse of P/E
- Dividend yield
- 1.16% of the holdings
- Return on equity
- 20.7% combined
- Net margin
- 11.9% combined
- Beta
- 1.14 weighted, vs S&P 500
FFLC valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FFLC | 25.7 | 19.0 | 3.05 | 5.34 | 1.16% | 20.7% | 11.9% | 2.6% |
| 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.
FFLC valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 32.9% | 29.6 | 23.9 | 3.86 | 13.77 | 0.56% | 46.5% |
| Healthcare | 11.5% | 44.6 | 16.9 | 2.06 | 4.40 | 1.21% | 9.9% |
| Financial Services | 11.0% | 20.2 | 13.9 | 4.02 | 2.63 | 1.84% | 13.0% |
| Consumer Cyclical | 10.4% | 20.3 | 19.0 | 2.38 | 5.47 | 0.98% | 26.9% |
| Communication Services | 9.5% | 19.9 | 22.5 | 8.73 | 7.03 | 0.28% | 35.4% |
| Industrials | 8.3% | 27.7 | 21.2 | 2.00 | 5.79 | 1.38% | 20.9% |
| Consumer Defensive | 5.2% | 26.4 | 16.2 | 2.47 | 4.11 | 3.14% | 15.6% |
| Energy | 5.0% | 20.2 | 11.6 | 1.79 | 2.90 | 2.58% | 14.4% |
| Basic Materials | 1.8% | 30.5 | 13.1 | 1.94 | 2.76 | 1.41% | 9.1% |
| Utilities | 1.2% | 18.5 | 12.9 | 2.98 | 1.76 | 2.96% | 9.5% |
| Real Estate | 1.2% | 24.4 | 49.3 | 6.49 | 2.24 | 5.22% | 9.2% |
FFLC 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 FFLC weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FFLC largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| NVDA | NVIDIA Corporation | 8.60% | 27.1 | 24.9 | 17.1 | 0.47% | 8.79% |
| MSFT | Microsoft Corporation | 6.10% | 29.5 | 25.1 | 11.8 | 0.74% | 5.73% |
| GOOGL | Alphabet Inc. | 5.82% | 17.1 | 22.8 | 9.3 | 0.26% | 9.43% |
| AAPL | Apple Inc. | 4.86% | 39.4 | 35.2 | 10.7 | 0.31% | 3.41% |
| AMZN | Amazon.com, Inc. | 4.66% | 20.1 | 23.6 | 3.5 | — | 6.41% |
| META | Meta Platforms, Inc. | 3.70% | 26.7 | 22.1 | 7.9 | 0.30% | 3.83% |
| TSM | Taiwan Semiconductor Manufacturing Company Limited | 2.38% | 26.7 | 21.4 | 0.4 | 0.91% | 2.46% |
| LLY | Eli Lilly and Company | 2.22% | 42.2 | 24.4 | 14.1 | 0.55% | 1.46% |
| XOM | Exxon Mobil Corporation | 2.22% | 23.0 | 14.8 | 2.0 | 2.30% | 2.67% |
| V | Visa Inc. | 2.00% | 34.3 | 24.0 | 17.0 | 0.67% | 1.61% |
| AVGO | Broadcom Inc. | 1.76% | 43.3 | 19.4 | 17.6 | 0.79% | 1.13% |
| BA | The Boeing Company | 1.71% | 67.9 | 49.5 | 1.6 | — | 0.70% |
| TMO | Thermo Fisher Scientific Inc. | 1.38% | 37.1 | 24.2 | 5.5 | 0.27% | 1.03% |
| WFC | Wells Fargo & Company | 1.33% | 11.8 | 10.2 | 3.0 | 2.38% | 3.12% |
| L3H | SHELL PLC WI ADR/2 | 1.32% | — | — | — | — | — |
| WDC | Western Digital Corporation | 1.22% | 12.3 | 22.8 | 9.6 | 0.18% | 2.74% |
| AMD | Advanced Micro Devices, Inc. | 1.18% | 134.9 | 39.5 | 20.9 | — | 0.24% |
| KDP | Keurig Dr Pepper Inc. | 1.17% | 35.0 | 12.5 | 2.3 | 2.66% | 0.93% |
| GCP | General Electric Company | 1.15% | — | — | — | — | — |
| BAC | Bank of America Corporation | 1.11% | 12.2 | 10.8 | 3.1 | 2.50% | 2.51% |
| UNH | UnitedHealth Group Incorporated | 1.09% | 25.8 | 16.6 | 0.8 | 2.31% | 1.17% |
| PM | Philip Morris International Inc. | 1.08% | 29.5 | 20.9 | 7.5 | 3.12% | 1.02% |
| WAB | Westinghouse Air Brake Technologies Corporation | 1.07% | 38.6 | 23.8 | 4.0 | 0.43% | 0.77% |
| CB | Chubb Limited | 1.02% | 12.7 | 11.6 | 2.2 | 1.13% | 2.22% |
| STX | Seagate Technology Holdings plc | 1.02% | 46.0 | 25.7 | 11.9 | 0.46% | 0.61% |
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 FFLC valuation
Adding up its 109 holdings with company data, FFLC trades at 25.7 times trailing earnings and 19.0 times analysts' forward estimates, with a price-to-book ratio of 5.34 and a dividend yield of 1.16%. Its earnings yield of 3.88% is 1.44 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 42.6% of the fund and earn 45.8% of its combined profit. By sector, Healthcare is the most expensive at 44.6 times earnings and Utilities the cheapest at 18.5. Companies that lost money over the past year are 2.6% 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 93.8% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FFLC chart, FFLC performance, FFLC holdings, FFLC dividends.
FFLC valuation FAQ
What is the P/E ratio of FFLC?
Based on its holdings, FFLC has a trailing P/E of 25.7 and a forward P/E of 19.0 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of FFLC?
The trailing earnings yield is 3.88% (1 ÷ P/E) and the forward earnings yield 5.25%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FFLC more expensive than the S&P 500?
FFLC trades at 25.7 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 19.0 and 19.9.
What is the price-to-book ratio of FFLC?
The holdings of FFLC trade at 5.34 times book value, with a combined return on equity of 20.7%.
Which sector in FFLC has the highest P/E?
Healthcare has the highest P/E at 44.6 and Utilities the lowest at 18.5.