Fidelity Covington Trust

10-Year Study

FEMR.US · · US · ETF

Executive Summary: Fidelity Covington Trust has compounded at 36.6% annually over the last 10 years, with a maximum drawdown of 10.5% and an annualized volatility of 26.9%.

1Y CAGR
+47.4%
3Y CAGR
+36.6%
5Y CAGR
+36.6%
10Y CAGR
+36.6%

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 →
10.5%
Sharpe RatioSharpe RatioRisk-adjusted return: how much excess return you earn per unit of total risk (volatility).Click for full definition →
1.98
Sortino RatioSortino RatioLike Sharpe, but only penalizes downside volatility — a more accurate risk measure for asymmetric return distributions.Click for full definition →
1.85
Ann. VolatilityAnnualized VolatilityThe annualized standard deviation of an asset's returns — a measure of how much prices fluctuate.Click for full definition →
17.0%
Best YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2025 · +35.3%
Worst YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2026 · 15.7%
% 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.
20269.67.0-10.510.3————————15.7%
20251.81.41.10.24.96.20.13.07.03.7-2.03.635.3%
2024———————————-0.8-0.8%

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 26.9%. The dominant macroeconomic risk driver is SHV.US, accounting for 48.8% of variance. Idiosyncratic stock-specific factors contribute 0.3%.

10-Year Historical Price Series (Growth of $10,000)
DateSimulated Value
2024-11-0110000
2024-12-019917.246668425913
2025-01-0110095.576593218102
2025-02-0110240.796938910145
2025-03-0110350.062673175882
2025-04-0110370.720081804988
2025-05-0110882.454809341602
2025-06-0111555.779126533842
2025-07-0111567.241720543607
2025-08-0111919.819567225228
2025-09-0112748.754782952896
2025-10-0113220.040572634913
2025-11-0112954.834081013327
2025-12-0113417.007520781106
2026-01-0114703.456920438051
2026-02-0115726.019263755114
2026-03-0114080.848396886133
2026-04-0115529.753265602321
Annual Return Matrix
YearAnnual Return
20250.3528964206867591
20260.15746773202212672
Total Factor Risk
0.2690831983194179
VTI.US Exposure
-0.033210958176083
VEA.US Exposure
0.19148401002383758
VWO.US Exposure
0.13502150148315287
QQQ.US Exposure
0.0963811806105165
VTV.US Exposure
0.06189605893544161
IJR.US Exposure
0.015002175962638734
QUAL.US Exposure
-0.08015461803857962
SHV.US Exposure
0.4878334855015905
TLT.US Exposure
0.01664562899139646
LQD.US Exposure
0.08009804432672302
HYG.US Exposure
-0.001723267379826447
GLD.US Exposure
0.0036417299092430635
USO.US Exposure
-0.0016272794234895123
VNQ.US Exposure
0.025337435818121586
BTC-USD.CC Exposure
0.006863922898749791
CPER.US Exposure
0.00544699465862314
VIX.INDX Exposure
-0.01890474647474605
UUP.US Exposure
-0.0156208647948765
TIP.US Exposure
0.022989500806882283
Idiosyncratic Exposure
0.002600064360683834
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
26.9%

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
$31
Avg Yield on Cost
0.31%
Annual Income Simulation Table
Historical Realised Yields
YearAnnual PayoutYield on CostQuality
2026$31.340.31%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 →
+5.2%
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 →
+17.1%
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 →
2.0% 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 →
1.00
Market sensitivity coefficient

Frequently Asked Questions & Methodology

Is Fidelity Covington Trust a high-risk investment?

Fidelity Covington Trust (FEMR.US) has an annualized volatility of 26.9% and experienced a maximum drawdown of 10.5% over the last 10 years. Its primary macro risk driver is SHV.US.

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

Over the past 10 years, FEMR.US has generated a Compound Annual Growth Rate (CAGR) of 36.6%. 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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