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FLRG - Fidelity's FLRG Okay But Not A SPY Replacement Or Alpha ETF
Fidelity U.S. Multifactor
2024-03-31 09:00:00 ET
Summary
Fidelity U.S. Multifactor ETF (FLRG) is seen by the author as a possible alpha-generating fund to possibly complement a core ETF like SPY. Not so far though.
FLRG uses four factors: attractive valuations, high quality profiles, lower volatility than the broader market, and positive momentum signals.
While FLRG has composition differences compared to SPY, it currently only receives a hold rating as a SPY substitute or an alpha-generating ETF.