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ETFs

Fidelity Covington Trust Fidelity Crypto Industry and Digital Payments ETF

FDIG
$--
Today’s Change
-- (--)

Snapshot
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Inception Date
Apr 19 2022
Expense Ratio
0.39%
Type
Global Equities
Fund Owner
Fidelity
Volume (1m avg. daily)
$1,244,540
AUM
$38,026,939
Associated Index
Fidelity Crypto Industry and Digital Payments Index
Inverse/Leveraged
No
Passive/Active
Passive
Fractionable on Composer
No
Prospectus
View

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Invest with FDIG

What is FDIG?

The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity Crypto Industry and Digital Payments Index. Normally investing at least 80% of assets in equity securities included in the Fidelity Crypto Industry and Digital Payments Index and in depositary receipts representing securities included in the index. The Fidelity Crypto Industry and Digital Payments Index is designed to reflect the performance of a global universe of companies engaged in activities related to cryptocurrency, related blockchain technology, and digital payments processing.

ETFs related toFDIG

ETFs correlated to FDIG include BKCH, BLOK, WGMI

FDIG
Fidelity Covington Trust - Fidelity Crypto Industry and Digital Payments ETF
BKCH
Global X Funds - Global X Blockchain ETF
BLOK
Amplify ETF Trust - Amplify Transformational Data Sharing ETF
WGMI
Valkyrie ETF Trust II - Valkyrie Bitcoin Miners ETF
CONY
Tidal Trust II - YieldMax COIN Option Income Strategy ETF
CONL
GraniteShares ETF Trust - GraniteShares 1.5x Long Coinbase Daily ETF
ARKW
ARK Investment Management LLC - ARK Next Generation Internet ETF
ARKF
ARK ETF Trust - ARK Fintech Innovation ETF
ARKK
ARK Investment Management LLC - ARK Innovation ETF
FINX
Global X Funds - Global X Funds Global X FinTech ETF
TARK
Investment Managers Series Trust II - AXS 2X Innovation ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

FAQ

FDIG is a Global Equities ETF. The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity Crypto Industry and Digital Payments Index. Normally investing at least 80% of assets in equity securities included in the Fidelity Crypto Industry and Digital Payments Index and in depositary receipts representing securities included in the index. The Fidelity Crypto Industry and Digital Payments Index is designed to reflect the performance of a global universe of companies engaged in activities related to cryptocurrency, related blockchain technology, and digital payments processing.

FDIG tracks the Fidelity Crypto Industry and Digital Payments Index.

No, FDIG is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, FDIG is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on FDIG is -0.0846%. This is the percent change in the value of FDIG over the most recent 1-month period. The 3-month return on FDIG is -0.1018%. This is the percent change in the value of FDIG over the most recent 3-month period.

The standard deviation of FDIG for the past year is 0.5955%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to FDIG include PBW, IGF, and EFG.

ETFs correlated to FDIG include BKCH, BLOK, and WGMI.

ETFs that are inversely correlated to FDIG include SARK, HDGE, and WEBS.

Disclaimers

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We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.