Fidelity Covington Trust

10-Year Study

FELC.US · · US · ETF

Executive Summary: Fidelity Covington Trust has compounded at 20.9% annually over the last 10 years, with a maximum drawdown of 8.0% and an annualized volatility of 13.5%.

1Y CAGR
+21.9%
3Y CAGR
+20.9%
5Y CAGR
+20.9%
10Y CAGR
+20.9%

History & Riski10-year historical performance analysis including CAGR, Max Drawdown, Sharpe & Sortino ratios, annual returns, and rolling volatility — all computed from daily market data.

10-Year Growth of $10,000

Max DrawdownMax DrawdownThe largest peak-to-trough decline in the asset's value over the measurement period.Click for full definition →
8.0%
Sharpe RatioSharpe RatioRisk-adjusted return: how much excess return you earn per unit of total risk (volatility).Click for full definition →
1.46
Sortino RatioSortino RatioLike Sharpe, but only penalizes downside volatility — a more accurate risk measure for asymmetric return distributions.Click for full definition →
2.34
Ann. VolatilityAnnualized VolatilityThe annualized standard deviation of an asset's returns — a measure of how much prices fluctuate.Click for full definition →
11.8%
Best YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2024 · +25.3%
Worst YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2026 · 2.6%
% Positive Years% Positive YearsThe percentage of calendar years in the measurement period where the asset delivered a positive return.Click for full definition →
100%

Annual Returns

Rolling 12-Month Returns

Rolling 12-Month Annualised Volatility

Historical Drawdowns

Monthly Returns

Monthly Returns Heatmap

YearJanFebMarAprMayJunJulAugSepOctNovDecAnn.
20261.2-0.9-5.28.0————————2.6%
20252.6-1.9-5.6-0.76.35.11.52.93.72.00.20.517.1%
20242.05.63.3-4.34.54.00.82.31.9-0.35.6-2.225.3%
2023———————————5.15.1%

Risk X-RayiA 19-factor macroeconomic risk decomposition showing exactly which market forces (equity beta, rates, inflation, credit, commodity, crypto) drive this asset's volatility. Powered by multivariate regression against daily factor returns.

Risk Profile Insight: This asset has an estimated annualized volatility of 13.5%. The dominant macroeconomic risk driver is VTI.US, accounting for 123.9% of variance. Idiosyncratic stock-specific factors contribute 0.6%.

10-Year Historical Price Series (Growth of $10,000)
DateSimulated Value
2023-11-0110000
2023-12-0110506.107850182065
2024-01-0110719.579838039028
2024-02-0111320.353310672792
2024-03-0111696.189961003414
2024-04-0111188.70956021864
2024-05-0111696.189961003414
2024-06-0112163.704917768073
2024-07-0112267.04990432515
2024-08-0112545.314354457156
2024-09-0112787.286951888063
2024-10-0112747.442615274067
2024-11-0113460.724868194771
2024-12-0113159.167426952048
2025-01-0113498.833331987695
2025-02-0113247.091403796314
2025-03-0112500.625721598295
2025-04-0112416.4560743438
2025-05-0113193.965621644316
2025-06-0113861.30779850957
2025-07-0114066.302267938026
2025-08-0114476.210468524185
2025-09-0115011.384096175427
2025-10-0115309.429422640625
2025-11-0115337.60707913158
2025-12-0115408.898972201814
2026-01-0115590.560081384176
2026-02-0115449.268107575674
2026-03-0114641.885400098503
2026-04-0115816.627239477784
Annual Return Matrix
YearAnnual Return
20240.2525254465881015
20250.17096306113120496
20260.026460571129159005
Total Factor Risk
0.1353473339308141
VTI.US Exposure
1.2389599243596816
VEA.US Exposure
0.01565870884917244
VWO.US Exposure
0.001870368797270933
QQQ.US Exposure
-0.18842947885414643
VTV.US Exposure
-0.12889907936973705
IJR.US Exposure
-0.016643359005832574
QUAL.US Exposure
0.12514431244628532
SHV.US Exposure
0.0002278401824765035
TLT.US Exposure
-0.017047498885818642
LQD.US Exposure
-0.02306557965503931
HYG.US Exposure
0.0012544298141005123
GLD.US Exposure
0.0008448868352292183
USO.US Exposure
-0.0008205782370280576
VNQ.US Exposure
-0.03190725415952831
BTC-USD.CC Exposure
-0.02493427267226541
CPER.US Exposure
-0.005960700328516692
VIX.INDX Exposure
-0.008668468394032007
UUP.US Exposure
0.003748761467771968
TIP.US Exposure
0.05305736954418678
Idiosyncratic Exposure
0.00560966726576915
Value Score
50
Growth Score
50
Profit Score
37.5
Health Score
23.6
Yield Score
0
Moat Score
40

Factor Risk Decomposition

Share of annualised volatility attributable to each macro factor.

Total Est. Vol
13.5%

FundamentalsiCompany financial health metrics: P/E valuation, dividend yield, Piotroski F-Score (9-point profitability signal), Altman Z-Score (bankruptcy risk proxy), and a radar chart across 6 fundamental dimensions. Note: ETFs may show N/A for some metrics.

Fundamental Dimensions

Core Valuation

P/E Ratio (TTM)P/E RatioPrice-to-Earnings ratio — the market price of a stock divided by its earnings per share, a key valuation measure.Click for full definition →N/A
Dividend YieldDividend YieldAnnual dividend paid per share divided by the current share price — expressed as a percentage income return.Click for full definition →0.00%
Market Cap$0
Piotroski F-ScorePiotroski F-ScoreA 9-point scoring system evaluating a company's financial strength across profitability, leverage, and operating efficiency.Click for full definition →
9-point profitability signal
0.0/ 9
Weak
Altman Z-ScoreAltman Z-ScoreA bankruptcy prediction model that combines 5 financial ratios into a single score indicating financial distress risk.Click for full definition →
Bankruptcy risk proxy
1.18
Distress Zone
Income Simulation

Based on $10,000 initial investment.

Total Income Generated
$41
Avg Yield on Cost
0.41%
Annual Income Simulation Table
Historical Realised Yields
YearAnnual PayoutYield on CostQuality
2026$41.180.41%Solid

Momentum & MacroiPrice momentum indicators relative to key technical levels: distance from 50-Day SMA (intermediate trend), 200-Day SMA (long-term trend), 52-Week High (bullish proximity), and Beta (market sensitivity coefficient).

vs 50-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
+4.1%
Above/below 50-day moving average
vs 200-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
+5.7%
Above/below 200-day moving average
vs 52-Week High52-Week HighThe highest price an asset reached in the past 52 weeks — a key reference for momentum and valuation context.Click for full definition →
0.0% from high
Distance from 52-week high
BetaBetaA measure of an asset's sensitivity to broad market movements relative to a benchmark (e.g. S&P 500).Click for full definition →
0.99
Market sensitivity coefficient

Frequently Asked Questions & Methodology

Is Fidelity Covington Trust a high-risk investment?

Fidelity Covington Trust (FELC.US) has an annualized volatility of 13.5% and experienced a maximum drawdown of 8.0% over the last 10 years. Its primary macro risk driver is VTI.US.

What is the 10-year return of FELC.US?

Over the past 10 years, FELC.US has generated a Compound Annual Growth Rate (CAGR) of 20.9%. It has had a positive return in 100% of the years measured.

Data Methodology & Trust

The risk and return information on this page is pre-calculated mathematically using daily market data spanning a 10-year period. Fundamentals (such as P/E Ratio, Market Cap, and Dividend Yield) represent trailing averages and may not immediately reflect real-time live market fluctuations. Advanced scoring models like the Piotroski F-Score and Altman Z-Score are proxies applied to publicly available trailing-twelve-month financial statements and may not account for recent off-balance-sheet events, qualitative company shifts, or sector-specific capital structures. Macroeconomic factor exposures are estimated via multivariate regression against standard market indices. This data is provided for quantitative insight and backtesting research, and should not be misconstrued as tailored financial advice.

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