Fidelity Covington Trust

10-Year Study

FENI.US · · US · ETF

Executive Summary: Fidelity Covington Trust has compounded at 23.6% annually over the last 10 years, with a maximum drawdown of 8.6% and an annualized volatility of 16.2%.

1Y CAGR
+27.0%
3Y CAGR
+23.6%
5Y CAGR
+23.6%
10Y CAGR
+23.6%

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 →
8.6%
Sharpe RatioSharpe RatioRisk-adjusted return: how much excess return you earn per unit of total risk (volatility).Click for full definition →
1.59
Sortino RatioSortino RatioLike Sharpe, but only penalizes downside volatility — a more accurate risk measure for asymmetric return distributions.Click for full definition →
2.09
Ann. VolatilityAnnualized VolatilityThe annualized standard deviation of an asset's returns — a measure of how much prices fluctuate.Click for full definition →
12.6%
Best YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2025 · +37.3%
Worst YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2024 · 7.0%
% 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.
20266.14.9-8.66.2————————8.0%
20254.83.50.33.85.43.3-1.44.73.31.00.53.237.3%
20240.44.04.1-2.95.4-2.02.13.51.6-5.5-0.6-2.67.0%
2023———————————5.25.2%

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 16.2%. The dominant macroeconomic risk driver is VEA.US, accounting for 95.0% of variance. Idiosyncratic stock-specific factors contribute 0.6%.

10-Year Historical Price Series (Growth of $10,000)
DateSimulated Value
2023-11-0110000
2023-12-0110524.214502084944
2024-01-0110567.941292031584
2024-02-0110986.113047482646
2024-03-0111432.844522744268
2024-04-0111096.465100951851
2024-05-0111693.135105218907
2024-06-0111458.996100499797
2024-07-0111699.59906547189
2024-08-0112114.010739468604
2024-09-0112309.154742138684
2024-10-0111630.312171256925
2024-11-0111557.138451268922
2024-12-0111256.162942496105
2025-01-0111795.882499566958
2025-02-0112212.913556149844
2025-03-0112255.541895334543
2025-04-0112716.764471032586
2025-05-0113400.381077918182
2025-06-0113845.591621355576
2025-07-0113645.800327000341
2025-08-0114282.690528397065
2025-09-0114757.390249982045
2025-10-0114903.779938064277
2025-11-0114974.883500847074
2025-12-0115454.357258435892
2026-01-0116392.26521671166
2026-02-0117194.97923505579
2026-03-0115716.29551705345
2026-04-0116683.777149689267
Annual Return Matrix
YearAnnual Return
20240.06954898536761611
20250.3729685095522275
20260.07955166757791154
Total Factor Risk
0.16222355014786366
VTI.US Exposure
0.041560251316205894
VEA.US Exposure
0.9496091462958732
VWO.US Exposure
0.039835110206389475
QQQ.US Exposure
-0.033265346129198056
VTV.US Exposure
0.055641021807877694
IJR.US Exposure
-0.0402422018521752
QUAL.US Exposure
-0.041847174373509224
SHV.US Exposure
0.056620218855442016
TLT.US Exposure
0.00959413238589314
LQD.US Exposure
0.05935793780432732
HYG.US Exposure
0.03262699672988119
GLD.US Exposure
-0.023375372867278955
USO.US Exposure
0.0051001768626398394
VNQ.US Exposure
-0.113552848963266
BTC-USD.CC Exposure
0.0051926057455680625
CPER.US Exposure
-0.0023796742756811108
VIX.INDX Exposure
-0.003934640377370639
UUP.US Exposure
0.002852855610157592
TIP.US Exposure
-0.005730155893123036
Idiosyncratic Exposure
0.006336961111346569
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
16.2%

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
$116
Avg Yield on Cost
1.16%
Annual Income Simulation Table
Historical Realised Yields
YearAnnual PayoutYield on CostQuality
2026$115.761.16%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 →
+2.1%
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 →
+9.8%
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 →
3.4% 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 (FENI.US) has an annualized volatility of 16.2% and experienced a maximum drawdown of 8.6% over the last 10 years. Its primary macro risk driver is VEA.US.

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

Over the past 10 years, FENI.US has generated a Compound Annual Growth Rate (CAGR) of 23.6%. 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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