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This fund has beaten VOO since its 2020 inception and is ahead YTD by more than a point. Any fans/detractors/owners of this fund? Any comments from Fidelity clients or others considering it?
Like a lot of Fido funds I have looked at, it has five of the Mag 7 for the top five stocks, the manager's own choices, and then a lot of steady Eddies like tobacco and soap.
Now that I have had my morning nap, I see it's a rules-based fund.
I see it's an index fund. So ignore my previous comments.
The Fidelity U.S. Multifactor Index℠ is designed to reflect the performance of stocks of large and mid-capitalization U.S. companies with attractive valuations, high quality profiles, positive momentum signals, and lower volatility than the broader market.
Lots of etf's in that space. Have you looked at funds with similar portfolios, like at this dinky linky? Click on the comps tab
If the fund works for you, I don't think there's anything particular about Fidelity that should give you pause.
According to Port Vis --- it did better than VOO in 21 & 22 (not losing as much in 22) but not as good in 23 or so far in 24. ~72% of its holdings are in the top 50 stocks out of a total of 103 holdings. It has a lower SD. It hasn't been around long enough for me to consider it. It's a little safer than VOO but my equity side is all in. If I think I need an equity fund with lower SD I need to look at my overall allocation.
Comments
Like a lot of Fido funds I have looked at, it has five of the Mag 7 for the top five stocks, the manager's own choices, and then a lot of steady Eddies like tobacco and soap.Now that I have had my morning nap, I see it's a rules-based fund.
If the fund works for you, I don't think there's anything particular about Fidelity that should give you pause.