Fidelity Covington Trust

10-Year Study

FELV.US · · US · ETF

Executive Summary: Fidelity Covington Trust has compounded at 18.4% annually over the last 10 years, with a maximum drawdown of 8.2% and an annualized volatility of 17.5%.

1Y CAGR
+22.7%
3Y CAGR
+18.4%
5Y CAGR
+18.4%
10Y CAGR
+18.4%

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 →
8.2%
Sharpe RatioSharpe RatioRisk-adjusted return: how much excess return you earn per unit of total risk (volatility).Click for full definition →
1.25
Sortino RatioSortino RatioLike Sharpe, but only penalizes downside volatility — a more accurate risk measure for asymmetric return distributions.Click for full definition →
1.79
Ann. VolatilityAnnualized VolatilityThe annualized standard deviation of an asset's returns — a measure of how much prices fluctuate.Click for full definition →
11.7%
Best YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2024 · +15.9%
Worst YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2026 · 6.0%
% 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.
20263.92.2-5.25.2————————6.0%
20254.50.0-3.0-2.83.33.40.33.91.70.62.20.915.8%
20240.33.95.3-4.32.8-0.34.62.81.3-0.56.7-6.815.9%
2023———————————5.85.8%

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 17.5%. The dominant macroeconomic risk driver is SHV.US, accounting for 52.6% of variance. Idiosyncratic stock-specific factors contribute 0.3%.

10-Year Historical Price Series (Growth of $10,000)
DateSimulated Value
2023-11-0110000
2023-12-0110575.566967247352
2024-01-0110611.030574051778
2024-02-0111020.663898375882
2024-03-0111607.779060910589
2024-04-0111106.90680360697
2024-05-0111416.988132386545
2024-06-0111382.834959089905
2024-07-0111908.93306141838
2024-08-0112239.735620039804
2024-09-0112394.080116628584
2024-10-0112326.019476318008
2024-11-0113146.719411615353
2024-12-0112256.525549358297
2025-01-0112803.590587811332
2025-02-0112807.603790428922
2025-03-0112422.254437045955
2025-04-0112070.648746488449
2025-05-0112470.740476833993
2025-06-0112899.825548539276
2025-07-0112944.503140945313
2025-08-0113447.9962652645
2025-09-0113673.759388027553
2025-10-0113759.388027551866
2025-11-0114061.156293766433
2025-12-0114193.63293119405
2026-01-0114750.56717200259
2026-02-0115078.175548948786
2026-03-0114296.010548989738
2026-04-0115041.319606542338
Annual Return Matrix
YearAnnual Return
20240.15894737249708624
20250.158047023525127
20260.05972302365839588
Total Factor Risk
0.17497788594840774
VTI.US Exposure
0.22025217384955864
VEA.US Exposure
0.0179766513706737
VWO.US Exposure
-0.023162676543048395
QQQ.US Exposure
-0.07501996319075523
VTV.US Exposure
0.19632220603779416
IJR.US Exposure
0.020891726626474535
QUAL.US Exposure
0.03921674487781875
SHV.US Exposure
0.5263315219328957
TLT.US Exposure
-0.009310785053180698
LQD.US Exposure
-0.010728250050829904
HYG.US Exposure
0.015221226687736745
GLD.US Exposure
0.005813449452472533
USO.US Exposure
0.00011974028851422789
VNQ.US Exposure
0.02880784295602211
BTC-USD.CC Exposure
-0.0013383381178315125
CPER.US Exposure
-0.0006790538701297286
VIX.INDX Exposure
-0.0010976920861186898
UUP.US Exposure
-0.006750189344770805
TIP.US Exposure
0.05366307755430558
Idiosyncratic Exposure
0.003470586622398371
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
17.5%

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
$66
Avg Yield on Cost
0.66%
Annual Income Simulation Table
Historical Realised Yields
YearAnnual PayoutYield on CostQuality
2026$65.930.66%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 →
+2.4%
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 →
+7.8%
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 →
0.2% 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 →
0.83
Market sensitivity coefficient

Frequently Asked Questions & Methodology

Is Fidelity Covington Trust a high-risk investment?

Fidelity Covington Trust (FELV.US) has an annualized volatility of 17.5% and experienced a maximum drawdown of 8.2% over the last 10 years. Its primary macro risk driver is SHV.US.

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

Over the past 10 years, FELV.US has generated a Compound Annual Growth Rate (CAGR) of 18.4%. 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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