(FDIG) Fidelity Crypto Industry - Ratings and Ratios

The Fidelity Crypto Industry and Digital Payments ETF (FDIG) is an exchange-traded fund that tracks a global index of companies involved in cryptocurrency, blockchain technology, and digital payments processing. The fund invests at least 80% of its assets in equity securities or depositary receipts representing these companies, and is classified as non-diversified.

As a Trading Analyst, I would note that the funds focus on a specific industry - cryptocurrency and digital payments - may result in higher volatility compared to a diversified portfolio. To evaluate the funds performance, key metrics to monitor include its tracking error relative to the underlying index, as well as its expense ratio. Additionally, the funds holdings and sector allocation should be regularly reviewed to ensure alignment with the underlying index and to identify potential concentration risks.

From a quantitative perspective, key performance indicators (KPIs) to monitor for FDIG include its Sharpe ratio, which measures risk-adjusted returns, and its information ratio, which assesses the funds excess returns relative to its tracking error. Other relevant metrics include the funds beta to relevant market indices, such as the S&P 500 or NASDAQ, to gauge its systematic risk, and its R-squared value, which measures the proportion of its returns that are explained by the underlying index.

To further evaluate the funds potential, I would analyze its holdings and identify the top contributors to its returns, as well as any potential laggards. This analysis would involve reviewing the funds sector allocation, geographic distribution, and market capitalization profile to ensure that it is aligned with the underlying index and that there are no unintended concentration risks. By closely monitoring these KPIs and conducting regular holdings-based analysis, investors can gain a more nuanced understanding of FDIGs performance and potential.