ETF Evaluator:
Fidelity High Dividend ETF (FDVV)
Follow This ETF
(as of Aug 24)
Best Performing in Large Value Over the Last Year
| 72.4% | iShares MSCI USA Value Factor ETF (VLUE) |
| 39.0% | SEI QiM U.S. Lrg Cap Value Actv ETF (SEIV) |
| 34.8% | LSV Disciplined Value ETF (LSVD) |
| 34.7% | iShares Core Dividend ETF (DIVB) |
| 34.4% | Avantis US Large Cap Value ETF (AVLV) |
Risk
Index
Risk
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ETF Details
Fidelity High Dividend ETF Overview
Fidelity High Dividend ETF (FDVV) is a passively managed U.S. Equity Large Value exchange-traded fund (ETF). Fidelity Investments launched the ETF in 2016.
The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity High Dividend Index℠.
The fund normally invests at least 80% of assets in securities included in the underlying index and in depository receipts representing securities included in the underlying index. The underlying index is designed to reflect the performance of stocks of large and mid-capitalization high-dividend-paying companies that are expected to continue to pay and grow their dividends.
About Fidelity High Dividend ETF (FDVV)
There are 5 members of the management team with an average tenure of 8.68 years: Louis Bottari (2016), Payal Gupta (2019), Peter Matthew (2016), Navid Sohrabi (2019) and Robert Regan (2016). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Russell 1000 TR USD index with a weighting of 100% and Fidelity High Dividend NR USD index with a weighting of 100%. Fidelity High Dividend ETF has 112 securities in its portfolio. The top 10 holdings constitute 33.8% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Fidelity High Dividend ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Fidelity High Dividend ETF has 6.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 93.5% There is 6.2% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Fidelity High Dividend ETF has 1.9% of the portfolio in cash.
Assets Under Management
The fund has $10 billion in total assets, which is above the $5 billion average for the Large Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FDVV Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Fidelity High Dividend ETF expense ratio is low compared to funds in the Large Value category. Fidelity High Dividend ETF has an expense ratio of 0.15%, which is 60% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Fidelity High Dividend ETF has a portfolio turnover rate of 39%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 40% for the Large Value category.
Recently, in the month of July 2026, Fidelity High Dividend ETF returned 3.6%, which earned it a grade of B, as the Large Value category had an average return of 2.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Fidelity High Dividend ETF has a trailing yield of 2.77%, which is above the 1.70% category average.
The fund normally distributes its income quarterly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Fidelity High Dividend ETF Grades
Year to date, the ETF has returned 12.2%, 2.2 percentage points worse than the category, which translates into a grade of D. The fund has returned 20.5% over the past year (grade of D), 18.3% over the past three years (grade of B) and 14.2% per year over the past five years (grade of A).
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FDVV Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FDVV Return (NAV) | 3.6% | 6.8% | 20.5% | 18.3% | 14.2% | na |
| FDVV Return (Price) | 3.8% | 6.8% | 20.5% | 18.4% | 14.2% | na |
| NAV +/- Price Return | -0.150% | -0.045% | -0.018% | -0.050% | 0.013% | na |
| Large Value Avg | 2.4% | 5.9% | 24.1% | 16.3% | 11.3% | 12.1% |
| FDVV Grade (NAV) | B | B | D | B | A | na |
| +/- Category (NAV) | 1.2% | 0.9% | -3.6% | 2.1% | 2.9% | na |
| FDVV Tax-Cost Ratio | na | na | 1.1% | 1.0% | 1.1% | na |
FDVV Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FDVV Return (NAV) | 12.2% | 17.2% | 21.7% | 17.9% | -4.1% | 29.3% | 2.9% | 23.8% | -0.9% | 13.8% | na |
| FDVV Return (Price) | 12.2% | 17.1% | 21.8% | 18.0% | -4.2% | 29.3% | 2.9% | 24.1% | -1.2% | 13.9% | na |
| NAV +/- Price Ret | 0.002% | -0.007% | 0.004% | 0.008% | 0.019% | -0.001% | 0.013% | 1.2% | 33.9% | 1.0% | na |
| Large Value Avg | 14.4% | 14.8% | 15.5% | 13.1% | -6.5% | 26.7% | 5.4% | 27.4% | -6.6% | 17.7% | 15.7% |
| FDVV Grade (NAV) | D | B | A | B | B | B | C | F | A | F | na |
| +/- Category | -2.2% | 2.4% | 6.2% | 4.8% | 2.4% | 2.6% | -2.6% | -3.6% | 5.6% | -3.9% | na |
| Risk Measures | |
| Beta: | 0.78 |
| R-Squared: | 77% |
| Standard Deviation: | 11.5% |
| Category Risk Index: | 0.95 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 0.94 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 2.8% |
| Total Assets: | $ 10,155 Mil |
| Share Class Assets: | $ 10,155 Mil |
| Turnover: | 39.0% |
| Expense Ratio: | 0.15% |
| Index Fund: | Yes |
| Index Tracked: | Russell 1000 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 9.9 years | |||
| Average Tenure: 8.7 years | |||
| Managers (Year): Bottari Louis (2016), Matthew Peter (2016), Regan Robert (2016), Gupta Payal (2019), Sohrabi Navid (2019) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 112 |
| % in Top 10 Holdings: | 33.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 6.2% |
Portfolio Allocation |
|
| Domestic Stock: | 93.5% |
| Foreign Stock: | 6.2% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | -1.6% |
| Cash: | 1.9% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Fidelity Investments |
| Phone Number: | 202-551-8090 |
| Website: | www.institutional.fidelity.com |
| Inception Date: | September 12, 2016 |
Expenses and Fees
| Expense Ratio (%): | 0.15% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.37% |
