MACROshare
Exchange Traded Product (ETP)-like structures consisting of pairs of exchange traded securities that trade separately and track the movement of a benchmark price (e.g., NYMEX Division Light Sweet Crude Oil Futures Contract). The pair of securities includes an "Up" share and a "Down" share whose prices move in opposite directions depending upon the movement of the benchmark price. An "Up" MACROshare gains when the benchmark price increases, and a "Down" MACROshare gains when the price declines. MACROshares do not actually own commodity or futures contracts, investing instead in short-term U.S. Treasuries and other short-term securities.
Management Fee
Money paid by an investment product to its investment manager or advisor for overseeing the investment product's portfolio.
Mandatory
A type of convertible security that has a required conversion or redemption feature. Either on or before a contractual conversion date, the holder must convert the mandatory convertible into the underlying common stock. These securities may provide investors with higher yields to compensate holders for the mandatory conversion structure.
Mandatory Call Date
The date on which a called bond is scheduled for redemption.
Mandatory Call Feature
Identifies if there is a mandatory call provision, which requires redemption of the security according to terms specified in the security's prospectus.
Mandatory Call Price
The price, corresponding to the Mandatory Call Date, at which a security will be redeemed.
Market
A financial market is a mechanism that brings together buyers and sellers to enable the voluntary exchange of assets, rights, obligations, and other items of value. It includes a process for delivery once a transaction is agreed upon. An economy that relies primarily on interactions between buyers and sellers to allocate resources is known as a market economy, and within a market economy, both general markets (where many securities or commodities are traded) and specialized markets (where only one security or commodity is traded) exist.
Market Capitalization
The market value of an entire company or fund, calculated by multiplying the number of common shares outstanding by the market price per share. Market Capitalization is a measure of size. For comparison purposes, companies are usually divided into three groups according to Market Capitalization—large cap, mid cap, and small cap. Many of the companies in the Dow Jones Industrial Average and the Standard & Poor's 500 (S&P 500) are large cap. Small cap companies are typically not widely followed by Wall Street analysts. Because they are smaller, small cap companies have the potential to grow faster, but with more risk than larger, more established companies.
Market Edge
Market Edge is a sophisticated, quantitatively based suite of investment tools that uses advanced computerized models to analyze nearly 5,000 stocks listed on the New York Stock Exchange, American Stock Exchange, and Nasdaq. Market Edge is a product of Computrade Systems, Inc., a privately-held information management company based in Atlanta, Georgia. Computrade is focused on the management of investment information, and is a leading provider of research to institutions, stockbrokers, and private investors.
Market Order
An order price type placed on the execution of an order. A market order requires that the best price in the current market at the time your order executes is used to buy or sell a security.
Market Price
Last reported price at which a security was sold on an exchange.
Market Price (Today)
Last reported price at which a security was sold on an exchange.
Market Total Return
The total return based on market prices, as opposed to NAV. Morningstar calculates the market-price return by taking the change in the fund's market price, reinvesting all income and capital-gains distributions during the period, and dividing by the starting market price. All changes are expressed as annual rates and are updated on a daily basis. Available for timeframes of:
Market Value
The total Market Value of a company or stock. Also called Market Capitalization, Market Value is calculated by multiplying the number of shares outstanding by the latest closing price of the stock. Generally speaking, small cap stocks have market values below $1 billion, while large caps have values in excess of $5 billion. Mid caps fall in between.
Maturity Date
The date when principal is generally required to be paid by an issuer. Many preferred securities are perpetual, meaning there is no stated maturity date. For preferred securities with a mandatory call feature, maturity date may reflect the mandatory call, or termination, date. For preferred securities with a sinking fund provision, maturity date may reflect the calculated full retirement date.
Maturity Exposure
A classification of an ETFs exposure according to the maturity of the constituent debt. Maturity refers to the length of time until the principal amount of a bond must be repaid. Bonds are typically classified into the following three categories:
Maximum Drawdown
Maximum drawdown is the largest percentage loss in value for a research provider's theoretical portfolio. It is calculated as the peak to trough percentage decline in portfolio value occurred during any subperiod of time within the entire time period.
McLean Capital Management
McLean Capital is a private independent research firm, bottom up fundamentally driven. The stock rating methodology identifies conservative companies that have superior cash flow characteristics and those speculative companies that have poor cash flow characteristics.
Median Tracking Difference
Median tracking difference statistic captures all the inputs to tracking error -- expense ratio, optimization, securities lending, tax recapture provides users a 'take home' example of the 1 yr. holding period of a fund. This is done by rolling 12 month holding periods over the last two years, then selecting the median tracking difference from the data set. This statistic is considered to be an important data point to help investors understand the true cost of owning a fund when holding for 1 year or more. ETF.com does not provide a score for inverse or leveraged products, alternative products, or funds without two years of trading history.
Fidelity's Learning Center is a resource for Understanding tracking error and tracking difference for an ETF.
Mid Blend
An investment product, like a mutual fund or an Exchange Traded Product (ETP), that invests in a variety of mid-cap US stocks, or those that represent 20% of the total capitalization of the US equity market. The mid-cap market capitalization range generally falls between $1 billion to $8 billion. The mid blend style is generally assigned to investment products where neither growth nor value characteristics predominate.
Mid Growth
An investment product, like a mutual fund or an Exchange Traded Product (ETP), that invests primarily in mid-cap, growth-oriented US stocks, or those that represent 20% of the total capitalization of the US equity market. The mid-cap market capitalization range generally falls between $1 billion to $8 billion. The mid growth style is generally based on fast growth (i.e., high growth rates for earnings, sales, book value, and cash flow) and high valuations (i.e., high price ratios and low dividend yields).
Mid Value
An investment product, like a mutual fund or an Exchange Traded Product (ETP), that invests primarily in mid-cap US, value-oriented US stocks, or those that represent 20% of the total capitalization of the US equity market. The mid-cap market capitalization range generally falls between $1 billion to $8 billion. The mid value style is generally based on low valuations (i.e., low price ratios and high dividend yields) and slow growth (i.e., low growth rates for earnings, sales, book value, and cash flow).
Modified Return on Capital (ROC)
Modified Return on Capital (ROC) is calculated by dividing EBIT (Operating Income After Depreciation) by the sum of Net Working Capital and Net Fixed Assets for a specified time period. Time periods measured include:
Momentum
Momentum is the difference between current price and the price a specified number of bars ago, Period. The momentum indicator shows the speed at which price changes from one period to another. It gives an excellent indication of the market participant's commitment to the current trend. When the momentum begins to slow or turn, it indicates diminishing commitment and a loss of momentum. This indicator is a leading or coincidental indicator. A momentum value above zero indicates that prices are moving up, and below zero moving down.
The momentum indicator has overbought and oversold zones. These zones are defined by lines that are placed so the Momentum indicator spends about 5% of its time within the zones. The lines should be adjusted according to market conditions.
Interpretation:
Money Flow
The Money Flow indicator attempts to measure the amount of money buying a security versus the amount of money selling a security by assuming that when a security closes higher than its open, all volume associated with that trading period results from buyers. Similarly, it assumes that when a security closes lower than its open, all volume associated with that trading period results from sellers. Although these assumptions are simplistic, Money Flow can be a useful indicator when analyzing the general buying and selling pressure on a security.
Money Flow Index
Money Flow Index measures the flow of money into and out of a security over the specified Period. Its calculation is similar to that of the Relative Strength Index (RSI), but takes volume into account in its calculation. The indicator is calculated by accumulating positive and negative Money Flow values (see Money Flow indicator), then creating a Money Ratio. The Money Ratio is then normalized into the MFI oscillator form.
Interpretation:
Moody's Credit Rating
The latest rating assigned by Moody's to indicate its opinion of the relative credit risk of the preferred security. It is based on S&P's proprietary analysis of the security at the time the rating was issued and is subject to change at any time.
Moody's ratings ("Ratings") are proprietary to Moody's or its affiliates and are protected by copyright and other intellectual property laws. Ratings are licensed to Licensee by Moody's. RATINGS MAY NOT BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT.
Morgan Stanley Capital International Europe, Australasia, and Far East Index (MSCI EAFE Index)
An unmanaged market capitalization-weighted index of equity securities of companies domiciled in various countries. The Index is designed to represent the performance of developed stock markets outside the United States and Canada and excludes certain market segments unavailable to U.S. based investors. The Net version of the MSCI EAFE adjusts for withholding taxes applicable to Massachusetts Business Trusts.
MorningstarTM Category
This is a proprietary Morningstar data point which is based on a fund's style as measured by its underlying portfolio holdings over the past 3 years and may change at any time. These style calculations do not represent the funds' objectives and do not predict the funds' future styles
The Morningstar RatingTM for funds, or "star rating," is calculated for funds with at least a three-year history. (Exchange-traded funds and open-end mutual funds are considered a single population for comparative purposes.) It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance.
The ratings break down as follows:Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.
The Overall Morningstar RatingTM for a fund is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics, which are based on risk-adjusted returns. Morningstar ratings are updated monthly.
Most Recent Distribution (Per Common Share)
This is the last declared amount of money that will be distributed for each share owned. Thus, if a person owns 100 shares and the cash dividend is USD $0.50 per share, the holder of the security will be paid USD $50.
Moving Average Convergence/Divergence (MACD)
MACD returns the Moving Average Convergence Divergence indicator. MACD is a momentum oscillator, yet its primary use is to trade trends. Although it is an oscillator is not used as an over brought or oversold indicator. It appears on the chart as two lines which oscillates without boundaries. The crossover of the two lines give trading signals similar to a two moving average system. The two lines are called, MACD Line or fast line and MACD Signal or slow line. The MACD line is displayed as a solid line on the chart, and the MACD signal line is displayed as a dashed line on the chart.
Interpretation:
Moving Average (MA) Envelopes
Moving average envelopes are lines plotted a certain percentage (default is 5%) above and below a moving average of price. They are also known as trading bands, moving average bands, price envelopes and percentage envelopes.
Interpretation: The logic behind envelopes is that overzealous buyers and sellers push the price to the extremes (i.e., the upper and lower bands), at which point the prices often stabilize by moving to more realistic levels. This is similar to the interpretation of Bollinger Bands. When the security's price touches the upper band and turns down, the security might be at an overbought level. Conversely, when the security's price touches the lower band and turns up, the security might be at an oversold level.
Moving Averages
The average price of a security calculated periodically over a period of time. Price charts typically provide several popular moving averages using SMA or EMA. Moving Averages always plot in the chart's price window.
If you choose a multiple moving average (e.g., SMA (3-line)), the chart automatically determines the lengths of SMA 2 and SMA 3 based on the number you enter. For example, if you select SMA (3-line) and enter 9, the chart plots three Moving Averages of 9 bars, 18 bars, and 27 bars in length. SMA 2 is always twice the length of SMA 1, and SMA 3 is always three times the length of SMA 1.
MSCI
MSCI ESG Research products and services are provided by MSCI ESG Research Inc., and are designed to provide in-depth research, ratings and analysis of environmental, social and governance-related business practices to companies worldwide. ESG ratings, data and analysis from MSCI ESG Research Inc. are also used in the construction of the MSCI ESG Indexes. MSCI ESG Research Inc. is a Registered Investment Adviser under the Investment Advisers Act of 1940 and a subsidiary of MSCI Inc.
MSCI Accounting and Governance Risk AGR® Score
MSCI Accounting and Governance Risk (AGR®) Score is widely recognized as a confidence level indicator in the company's management and reported financials. Scores range from 0 to 100, which correspond to a risk classification for each company ranging from "Very Aggressive" to "Conservative". Through continued back-testing, MSCI has demonstrated a strong correlation between its quarterly AGR Score and the likelihood of adverse events, including securities class action litigation, financial restatements, regulatory enforcement actions and stock price declines. AGR Score can help investors looking to manage risk or enhance investment performance. MSCI forensically analyzes the financial reporting and governance practices of over 8,500 North American-based publicly traded companies.
MSCI Environmental, Social and Governance
MSCI Ratings publishes Environmental, Social and Governance (ESG) ratings on nearly 3,000 companies in North America and over 6,000 companies worldwide. These ratings provide an independent assessment of the sustainable investment value of public companies. The ESG Ratings Investor Report is based on a carefully crafted and applied list of Key Issues that result in an overall ESG concern level as expressed by Red (Laggard), Yellow (Average), and Green (Leader) flags. MSCI ESG Ratings calculate each company's exposure to key ESG risks based on a granular breakdown of a company's business: its core product or business segments, the locations of its assets or revenues, and other relevant measures such as outsourced production. The analysis then takes into account the extent to which a company has developed robust strategies and demonstrated a strong track record of performance in managing its specific level of risks or opportunities. Ongoing or structural controversies occurring within the last three years lead to a deduction from the overall management score on each issue.
Mutual Fund
An investment that pools shareholders money and invests it toward a specified goal. The group's money is invested by a professional investment manager.
NASDAQ
The National Association of Securities Dealers Automated Quotations exchange, including the largest and most widely-traded OTC stocks.
NASDAQ 100
The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial securities listed on The Nasdaq Stock Market based on market capitalization. The Index reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology. It does not contain securities of financial companies including investment companies.
NASDAQ Composite Index
An unmanaged, market capitalization-weighted index designed to represent the performance of the National Market System, which includes over 5,000 stocks traded primarily over-the-counter, and not on an exchange.
NAV Change
The difference between today's closing Net Asset Value (NAV) and the previous day's closing Net Asset Value (NAV).
NAV Change %
The percentage change between today's closing Net Asset Value (NAV) and the previous day's closing Net Asset Value (NAV).
NAV Month End
Net Asset Value, or the fund's share price, as of the most recent month-end date. Funds compute this value by dividing the total net assets by the total number of shares.
NAV Return
The total return of the fund based on its NAV at the beginning and end of the holding period. This may be different from the funds market return. The market return, not the NAV return, is the return actually earned by the investors, except for those who hold creation units for ETFs. Available for timeframes of:
NAV Update Frequency
The frequency at which the sponsor updates the NAV.
Ned Davis Research
Ned Davis Research is an independent research firm that provides ratings and reports for stocks and Exchange Traded Products (ETP). To learn more about their offering and methodology
Negative Earnings Surprises
A negative earnings surprise occurs when a company's announced earnings (required four times per year) are lower than the consensus of what the market thought the company would announce by at least 5%. When you choose to show results in quintiles, the universe of searched stocks includes all stocks that have a percent decrease in reported earnings relative to the consensus for the time period reported. When you search for a specific value, enter a positive number to specify the change. All numbers are absolute numbers representing the magnitude of the change.
A negative surprise is usually interpreted by the market as bad news. Since the market tends to overreact to bad news, you can use this criterion to find companies that might be undervalued.
Negative Volume Index (NVI)
The Negative Volume Index was created by Norman Fosback, and its purpose is to expose where "smart money" investment action is occurring. The assumption is that smart money, mostly floor traders, will produce moves in price with less volume than the rest of the crowd.
Interpretation: Fosback compared the NVI with its one year (255 bar) moving average. When NVI is above the moving average, he calculated that there is a 96% chance that a bull market is in progress, and when it is below the average a 53% chance of a bear market.
Net Assets
This figure is recorded in millions of dollars and represents the fund's total asset base, net of fees and expenses.
Net Asset Value (NAV)
The dollar value of one share of the security determined by taking the total assets of the security subtracting the total liabilities, and dividing by the total number of shares outstanding. For Exchange Traded Funds, the NAV is calculated once per day at the close of the market, and indicative intraday value is estimated every 15 seconds for use by Authorized Participants for the creation/redemption process. For Closed End Funds, the date of last NAV calculation will be listed with the data point. When buying on the secondary market, shares may trade at a price that is higher than NAV (a premium) or a price lower than NAV (a discount). Note that for Closed End Funds with a NAV dated previous day and NAV Update Frequency is not daily then the NAV may be estimated by Morningstar instead of reported by the fund sponsor. Morningstar estimates daily NAVs for Closed End Funds that do not report daily and have at least 70% of their holdings in equities.
Net Change
The dollar amount change in the price of the security since the previous day's close.
Net Change Percent
The percent change in the price of the security since the previous day's close.
Net Expense Ratio for Exchange Traded Products (ETPs)
Morningstar provides the annual percentage of an Exchange Traded Product's (ETP's) assets paid out in expenses less the amounts reimbursed by the ETP Sponsor Expenses can include management, transfer agent and all other fees associated with the ETP's daily operations and distribution.
Net Flows
The net change in Exchange Traded Product (ETP) assets. The performance is not taken into account, only redemptions (outflows) and creations (inflows) are tracked. Fund flows can be used to track the movement of assets between geographical boundaries, asset classes, sectors, and industries in order to measure investor sentiment, and track trends within these markets. Fund flows are updated daily and calculated by Marco Polo XTF using net shares outstanding per ETP. Time periods measured include:
Net Income Per Employee
A measure of productivity and efficiency, determined by dividing net income by total employees. For a business, this figure is the same as net profit. For an individual, this figure is the same as gross income.
Strict accounting guidelines state when sales can be recognized as income. Basically, a sale can only be recognized when the transaction is already realized, or can be quite easily realized. This means the company should have received a payment, or the chances of receiving a payment are high. Additionally, delivery of the good or service should have occurred for the sale to be recognized.
Net Insider Shares Bought
The number of shares purchased by individuals who possess material information about a company. Material information is something that may be known by the company's board of directors or management.
Net Margin
A company's profitability after all costs, expenses, and taxes have been paid. Net Margin is calculated by dividing Net Earnings by Revenues and then multiplying by 100. The result is expressed as a percentage. Net Margin is used to measure operating efficiency at a company.
Next Optional Call Date
The date on which a given amount of the bond issue may be redeemed by the issuer at the Next Optional Call Price. "--" is returned if no future calls exist.
Next Optional Call Price
The next price at which a security is callable. The price cannot be determined when it decrements more frequently than monthly or because the ending price decrement was not stated in the prospectus
News
An indicator that news about a security is available. News is provided by an independent third-party provider not affiliated with Fidelity Investments.
1940 Act Leverage Ratio
Closed-end funds are largely regulated by the Investment Company Act of 1940. Under the '40 Act', closed-end funds are explicitly permitted to issue preferred shares and debt instruments (such as loans, lines of credit, revolving credit agreements, notes payable, and commercial paper). This ratio is calculated as the amount of 1940 Act Leverage divided by the sum of 1940 Act Leverage and net assets. Note that some funds do not update their leverage amounts regularly; calculations are based on the last reported leverage amount.
Non-1940 Act Leverage Ratio
In addition to preferred shares and debt, some closed-end funds utilize modern financial instruments to achieve leverage. This is known as "Non-1940 Act Leverage". Such leverage can take the form of tender option bonds, reverse repurchase agreements, securities lending, and mortgage dollar rolls. This ratio is calculated as the amount of non-1940 Act Leverage divided by the sum of Non-1940 Act Leverage and net assets. Note that some funds do not update their leverage amounts regularly; calculations are based on the last reported leverage amount.
No Transaction Fee (NTF) Funds
Funds available through FundsNetwork without paying a transaction fee to Fidelity. A transaction fee is similar to a brokerage fee or commission, which you pay when buying or selling a stock. All fees as described in a fund's prospectus still apply. Redemption/exchange fees must be paid on those funds that charge such fees if shares are sold within certain time frames. Investors also still pay any fund level expenses, such as asset-based sales charges (12b-1 fees) and other fund expenses as detailed in the prospectus.
No Transaction Fee Funds (NTF) included in the Mutual Fund Evaluator include all no-load funds (and a few funds with a 12b-1 fee greater than .25%, which are not considered no-load funds) available without paying a transaction fee to Fidelity. Load funds are not included under the Evaluator's NTF identifier, although you do not pay a transaction fee on load funds. You are charged a sales load by the fund, a portion of which is paid to Fidelity.
Number of Basket Holdings
The total number of underlying securities held in the ETP's basket on the previous trading day. Source is National Securities Clearing Corporation (NSCC) nightly Portfolio Composition File (PCF).
N/A (Not Applicable)
For StarMine Accuracy Scores, this means firm does not cover the stock or there is insufficient recommendation history.
For research reports, this means Fidelity does not redistribute reports for this provider.
In general, this means that the data field is not applicable to the security or security type in question. For example, a Mutual Fund does not have a Day High value, so it is marked "n/a".
Officer
A person holding the position of company officer (i.e., Chief Executive Officer (CEO), Chief Operating Officer (COO)). A person can hold more than one officer title at a company.
On-Balance Volume (OBV)
On Balance Volume developed by Joseph Granville and described in his "New Key to Stock Market Profits", uses volume to gauge the strength of a market. If
prices close up, the current bar's volume is added to OBV, and if prices close down, it is subtracted. The result is an indicator that depicts the flow of
volume into and out of a security. It either confirms the quality of the current trend or warns of an impending reversal.
You can often spot divergences between price action and the OBV indicator. For example, if prices make a new high but the move is not accompanied by sufficient volume, OBV will fail to make a new high. Such divergences can be a sign that a trend is nearing completion.
Interpretation:
On-Balance Volume Index
The ratio of shares traded to upward price movement. The On-Balance Volume Index was developed to help spot stocks moving higher on increasing volume—a sign of developing interest in the company on Wall Street. The daily volume and price change for the latest four weeks are compared with the same data for the previous four weeks, then related to trading on days when the stock's price rose. The On-Balance Volume Index is higher for stocks moving up on increasing volume, and can be an indication of significant buying activity.
1-Year Return
The average one-year load-adjusted return for a mutual fund for last year, updated monthly.
Open
The price at which the security first trades upon the opening of an exchange on a given trading day.
Operating Margin
A company's profitability before non-cash charges for a specified period. The operating margin is calculated by dividing EBITDA (earnings before interest expense, taxes, depreciation, and amortization) by net sales expressed as a percent.
Opportunity Type
An event that represents a long, short, intermediate or other opportunity, depending on the characteristics of the particular event.
Long refers to rising prices, while short refers to falling prices. You benefit from a long position if the stock price rises, and you benefit from a short position if the stock price falls. Other Opportunity Types include short-term patterns that mark an event, such as the end of an uptrend or downtrend.
Options
A right to buy or sell shares at a specified price for a specific period of time. With a call option, the buyer has the right to buy shares of the underlying security at a specific price for a specified time period. With a put option, the buyer has the right to sell shares of the underlying security at a specified price for a specified period of time.
When using the Security Screener, a Yes/No in the Options column indicates whether there are options available. If options are available, a link to the option chain is provided.
Educational materials are provided by the Options Industry Council (OIC) and Chicago Board Options Exchange (CBOE®).
Option Strategy Index
The weight of each security in the index will be determined in a way that relies on a derivative of the underlying security (such as an option), rather than the security itself.
Optional Call Date
The date on which the Current Optional Call Price went into effect.
Optional Call Feature
Identifies if there is an optional call provision, which permits the issuer to redeem the security, usually based on a predetermined schedule.
Optional Call Price
The current or first price at which a security is callable. The price cannot be determined when it decreases more frequently than monthly or if the ending price is not stated in the prospectus.
Optional Call Timing
Identifies when an optional call provision may be exercised by the issuer.
Original Coupon Rate
Reflects the annual percentage rate payable when a security was first issued, although it is usually not available or applicable for floating, adjustable, or variable rate securities. It may be very different from the security's current percentage rate payable.
Parabolic SAR
The Parabolic Time/Price System, developed by Welles Wilder, is used to set price stops, and is usually referred to as the stop-and-reversal (SAR) indicator. The system is designed to allow more leeway or tolerance for contratrend price fluctuation early in a new trade, and to tighten, progressively, a protective trailing stop order as the trend matures. The Parabolic Time/Price System employs a series of progressively shorter, exponentially smoothed moving averages for each period in which a stock's price moves to a new extreme in the expected trend direction.
Parabolic SARs provide excellent exit points. You should close long positions when the price falls below the SAR, and close short positions when the price rises above the SAR. If you are long (if the price is above the SAR), the SAR moves up every day, regardless of the direction the price is moving. The amount the SAR moves up depends on the amount that prices move.
Interpretation:
Pattern Duration
The number of days over which a classic pattern formed. Longer Pattern Durations generally forecast the anticipated price movement to occur over a longer period of time. For example, a 90-day pattern anticipates price movement over the long term compared to a shorter-term 30-day pattern.
Pay Date
The date on which a company mails out dividends to the holders of record. This date is generally a week or more after the date of record, so that the company has sufficient time to ensure that it accurately pays all those who are entitled.
Payout Ratio (TTM)
The percent of Earnings Per Share (EPS) paid out as a dividend for a specified 12-month period. Payout Ratio (TTM) is calculated by dividing the Annualized Dividend for a given security by the past 12 months of GAAP EPS. Time periods measured include:
Percent B
The Percent B indicator reflects closing price as a percentage of the lower and upper Bollinger Bands.
Interpretation: If the closing price is the same as the upper Bollinger Band value, Percent B would be 100 (percent), if the closing price is above the upper Bollinger Band, Percent B would be greater than 100. If the close is equal to the moving average, Percent B is 50 percent, and if the close is equal to the lower Bollinger Band, Percent B would be zero. If the close is below the lower band, Percent B would be negative.
% Change from 52-Week High
A measure of how close a security's current price is to its 52-week high. For example, if a security is at 8 and its 52-week high is 10, the % Change from 52-Week High would be 20%.
Use % Change from 52-Week High to find securities trading close to their 52-week high. Securities trading close to their high can be an indication of positive momentum or potential over-valuation.
% Change from 52-Week Low
A measure of how close a security's current price is to its 52-week low. For example, if the security is at 8 and its 52-week low is 5, the % Change from 52-week Low would be 60%.
% Change from 52-week Low can be used to find securities trading close to their lows, indicating that these companies may have fallen out of favor or may be undervalued.
% Change Since First Viewed
In the Recently Viewed Stocks list, the change in the price of the security since the security was added to the list expressed as a percentage.
% Compare
An indicator that shows the relative performance of symbols you are comparing to your chart's focus symbol.
For example, if you use IBM as your focus symbol and compare it to MSFT, % Compare displays IBM as a flat line, and plots MSFT's performance relative to IBM. If the MSFT line rises above the IBM line, MSFT is outperforming IBM. If it falls below IBM, MSFT is under performing IBM. % Compare returns the final percentage by which the compared symbols underperformed or outperformed the focus symbol.
% in Industry
A percentile ranking system used to compare a stock's Value, Growth, and Profitability ratios to the same ratios of other stocks in the same industry. To determine % in Industry, a percentile scale is established by placing the company with the lowest value for the ratio in the industry at the bottom of the scale, the company with the highest value for the ratio in the industry at the top of the scale, and then dividing the values into 100 equal parts, or positions. The value of a stock's % in Industry is its position on that percentile scale.
Along with Industry Average, % in Industry can help you determine how a stock's Value, Growth, and Profitability ratios compare with the same ratios of other stocks in the same industry. For example, if a stock's % in Industry is 87%, and its Return on Equity is 42.5%, then 13% of the stocks in that industry have a Return on Equity ratio greater than 42.5%, while 87% have a Return on Equity below 42.5%.
% Gain
The difference in percent between the purchase price per share multiplied by the share quantity and the last price quoted for a security.
% of Institutional Ownership
The percentage of outstanding shares that are held by institutional investors such as pension plans.
% of Inst. Ownership (Last vs. Prior Qtr.)
The percent change in institutional ownership of this quarter vs last quarter.
% Owned By Institutions
The percentage of a company's total common shares held by financial institutions.
% Price off SMA
The current intraday price % difference from its simple moving average. Timeframes defined are 10, 20, 50 and 200 days.
% Price Off 50-Day Avg.
The percentage a stock's price is above or below its 50-day average moving price.
% Price Off 20-Day Avg.
The percentage a stock's price is above or below its 20-day average moving price.
% Price Off 200-Day Avg.
The percentage a stock's price is above or below its 200-day average moving price.
% Revenue to R&D (Last FY)
The amount of dollars devoted to research and development as a percentage of revenue using the most recent fiscal year.
R&D is usually realized in the current year as a cost, but can be considered to be an indication of future profitability.
Percentage Price Oscillator (PPO)
A technical momentum indicator showing the relationship between two moving averages. It allows you to rank and compare stocks more easily than does its counterpart, the MACD. Since PPO expresses the difference as a percentage, you will know that a "5" reading of PPO means the shorter moving average is 5% above the longer.
Performance
The average daily price growth for a specified time period divided by the average daily price growth for another specified time period. Performance time periods include:
Point and Figure (PnF) Chart
Point and Figure charts are different from other types of charts in that they use rising columns of X�s and descending columns of O�s to display price movement and ignore the passing of time. By removing the element of time, smaller day to day price movements are removed, making it easier to identify important support and resistance levels.
Each X and O represents a price interval which is determined by the Box Size. Changes in price that are less than the Box Size are not plotted, and the focus is placed on important price movements in the security. When the price changes direction by the number of boxes determined by the Reversal interval, a column of X�s will change to a column of O�s (and vice versa) . The last plotted box, not the last price, is used to decide when to fill the next box or change columns. Box Size and Reversal are used to control how frequently new columns are created in the chart.
Month designations are shown by plotting numbers 1 through 9, for the months of January through September, and the letters A, B, and C for October, November, and December.
Portfolio Diversification
The makeup of a fund's portfolio expressed in terms of asset allocation and industry and sector diversification.
Positive Earnings Surprises
A Positive Earnings Surprise occurs when a company's announced earnings (required four times per year) exceed the consensus of what the market thought the company would announce by at least 5%. When results are shown in quintiles, the universe of searched stocks includes all stocks with a percent decrease in reported earnings relative to the consensus for the time period reported. When you search for a specific value, enter a positive number to specify the change. All numbers are absolute numbers representing the magnitude of the change.
Positive Earnings Surprises are usually considered to be an indication of positive momentum.
Positive Volume Index (PVI)
The Positive Volume Index ("PVI") focuses on days where the volume increased from the previous day. The premise being that the "crowd" takes positions on
days when volume increases.
Interpretation: Interpretation of the PVI assumes that on days when volume increases, the crowd-following "uninformed" investors are in the market. Conversely, on days with decreased volume, the "smart money" is quietly taking positions. Thus, the PVI displays what the not-so-smart-money is doing. (The Negative Volume Index, displays what the smart money is doing.) Note, however, that the PVI is not a contrarian indicator. Even though the PVI is supposed to show what the not-so-smart-money is doing, it still trends in the same direction as prices.
Potential Capital Gains % (3 Year Average)
Potential capital gain exposure (PCGE) is an estimate of the percent of a fund's assets that represent gains. PCGE measures how much the fund's assets have appreciated, and it can be an indicator of possible future capital gain distributions.
Morningstar calculates potential capital gain exposure (PCGE) to give investors some idea of the potential tax consequences of their investment in a fund. PCGE measures the gains that have not yet been distributed to shareholders or taxed. It is especially relevant for investors who are considering a new purchase of a fund. If there are a lot of gains embedded in the fund, the investor may potentially receive capital gain distributions for gains that happened before they purchased the fund.
A positive PCGE means that the fund's holdings have generally increased in value. For example, if a fund started with $2,000, gained $500 and lost $100, the fund's PCGE would be 17%, i.e. the net $400 gain divided by the total net assets of $2,400. The fund can either continue to hold the securities that appreciated or it can sell them. When a fund sells a security at a gain, it must distribute substantially all of those gains to shareholders that year. Investors then must pay taxes on those gains. So, a high PCGE can indicate the potential for upcoming capital gain distributions.
A negative PCGE means that the fund has reported losses on its books. For example, if a fund started with $2,000, gained $100 and lost $500, the fund's PCGE would be -25%, i.e. the net $400 loss divided by the total net assets of $1,600. The fund may be able to use those losses to offset future gains, thereby reducing the possibility of a capital gain distribution. Thus, investors should expect funds with negative capital gain exposure to be highly tax-efficient going forward.
Because the fund's asset base serves as the denominator in this calculation, a change in assets from the sale or redemption of shares can greatly influence a fund's potential capital gain exposure. As a fund's asset base grows, the tax impact of previous gains to shareholders is diminished. Conversely, a shrinking asset base amplifies the tax impact of past performance.
Preferred Stock
A type of security sharing the properties of stocks and bonds—a hybrid of a bond and a share of common stock. The holder of a share of preferred stock is normally paid a fixed dividend which receives first priority (i.e., holders of common stock do not receive their dividends until holders of preferred stock have been paid their dividends in full). In the event of a bankruptcy, holders of preferred stock have priority claim to the company's assets over holders of common stock, though the preferred stockholder's claim is still subordinate to that of the bondholders.
Generally, preferred stock shareholders do not have voting rights.
In exchange for higher income and perceived safety, holders of preferred stock forgo the possibility of larger future gains. Though capital gains opportunities for preferred stockholders can occur during periods of declining interest rates and improved credit conditions, the primary incentive to invest in preferred stock comes from the periodic income distributions. Additionally, the Jobs and Growth Act of 2003 reduced the tax on dividends paid to individuals for some select preferred securities. To identify the tax status of a preferred issue, refer to the Taxation section of its prospectus. The terms of preferred stock issues can vary widely, even among the same corporation.
Premium/Discount is calculated by Marco Polo XTF, an independent ratings company, using data provided by the fund company.
Pre-Tax Margin
The profitability of a company for a specified time period before taxes are paid. Pre Tax Margin is calculated by dividing net profits before taxes by net sales for the period, and then multiplying by 100 to express the result as a percentage. Time periods measured include:
Previous Close Date
The date on which the previous close price was calculated.
Previous Close
The final trading price for a security at the end of the most recent trading day.
Price
The price per share for a security in a watch list. For a Fidelity variable annuity, the price per unit for an investment option. You can enter a price for tracking purposes when you add or edit a security in a watch list.
Price/Book
A stock's price divided by its book value per share. Price/Book ratio compares the market's valuation of a company to its book value according to its financial statements.
The higher the Price/Book ratio, the higher the premium the market is willing to pay for the company above its assets. A low Price/Book ratio may signal a good investment opportunity, as book value is an accounting number and rarely represents the true value of the company. Book value assumes that most assets are worth less now than when they were purchased, and ignores value created through intellectual property.
Price/Cash Flow Ratio
A stock's price divided by cash flow per share for a specified time period. Time periods measured include:
Investors who use cash flow instead of earnings do so because they believe that management has a tendency to play games with earnings, but that it's harder for management to play games with cash flow. Like other valuation ratios, Price/Cash Flow Ratio is best used in comparison with other companies in the same industry.
Price Basis Objective
For commodity exchange traded funds, it's the price criteria indicated in the fund's prospectus that is used by the fund to track one or more commodities. Commodities have actively traded spot and derivative markets. The spot price is the current market price that is quoted for immediate payment and delivery of the "physical" commodity. Derivative contracts specify delivery and payment will occur at a "future" date with the price based on the expected future value of the underlying commodity. A price basis objective of "derivative" means the fund attempts to track the commodity using derivatives. A price basis objective of "physical" means the fund attempts to track the commodity either by taking physical delivery of the commodity or attempting to track its spot price using derivatives such as short-term futures contracts.
Price Channel
One of the simplest and oldest trend-following models, Price Channel requires no calculations, but it can be reasonably effective despite its simplicity. According to Price Channel theory, investors should buy when the weekly closing price moves up to a new 20-period high, and sell or sell short when the weekly closing price moves down to a new 20-period low. In other words, when the price moves out of its n-period range, go in the direction of the new trend.
P/E (Forward; 1 Year)
The Forward Price to Earning Ratio, also known as the I/B/E/S 1-year Forecast or Forward Price to Earning Ratio is the price to earnings ratio of an individual stock or an aggregate statistic for a fund or index based on the predicted I/B/E/S (Institutional Brokers Estimate System) Earnings per Share growth rate. In other words, the P/E ratio of a stock measures what the market is currently willing to pay for each dollar of a company's estimated earnings. In the case of a fund or index, the statistic measures the P/E ratio of the entire portfolio. It is equivalent to summing the holdings' prices and dividing that result by the sum of the holdings' earnings-per-share (median I/B/E/S consensus EPS estimates for the next fiscal year). The I/B/E/S Forecast uses a harmonic mean methodology. If a stock has fewer than three I/B/E/S estimates, it is excluded from the fund or index average. The P/E ratio of a fund, when compared to an appropriate benchmark index, is one of several measures used to gauge a fund's positioning with regard to growth versus value.
These earnings estimates do not come from Fidelity but are made by sell-side Wall Street research firms that are tracked by I/B/E/S. The P/E ratio of a stock can vary depending on stock price movements or expectations of Wall Street analysts, and should not be considered predictive of future stock price performance, or taken as investment advice.
Price/Earnings (P/E) Ratio
A comparison of a company's current share price to its earnings per share during a specified time period. The higher the P/E Ratio, the more the market is willing to pay for each dollar of annual earnings. For actual time frame comparisons and projected comparisons, the price is the current price. Companies with negative earnings do not have a P/E Ratio.
Actual time frame comparisons include:
Projection comparisons include:
The universe of searched stocks for P/E Ratio includes only stocks with an earnings per share greater than zero.
Price/Earnings (P/E) Ranges
A display of the range of the stock's Price/Earnings (P/E) Ratio by week, month, quarter, or year. The indicator displays solid bars showing the high and low range of the stock's P/E Ratio during each time period.
Price Performance
A measure of how much the security has risen or dropped over a specified time period, expressed as a percentage. Previous trading day price performance will be available on Fidelity.com by 9 AM ET next day.
Time periods measured include:
Use Price Performance to find securities that have outperformed or underperformed the market or their industry.
Price Performance Today
The percent change of the security's price as reported by the primary exchange. Price Performance Today is calculated once per minute. If the market is open and you qualify for real-time quotes, you may get price performance results that do not exactly match what you see in the Security Price column because Price Performance Today is calculated once per minute and the stock Price is updated in real-time. If you have not signed the Real Time Quotes user agreement, the price is delayed. If the market is closed, the price is the closing price from the previous day.
Equity: Price/Sales
A securities current price divided by the company's trailing 12-month sales per share.
This represents the weighted average of the price/sales ratios of the securities in a fund's portfolio. Price/sales represents the amount an investor is willing to pay for a dollar generated from a particular company's operations.
Price/Sales Ratio
A stock's price divided by sales per share for a specified period of time. Time periods measured include:
Price/Sales Ratio is useful for evaluating companies that have negative earnings or cash flow, since other ratios (e.g., Price/Earnings (P/E) Ratio) can't be used to evaluate a company without earnings. You can also use Price/Sales Ratio to look for companies that aren't managed as profitably as other companies in the same industry.
Price to Earnings Growth (PEG) Ratio
Price to Earnings Growth (PEG) Ratio is calculated by dividing a stock's forward P/E by its projected three- to five-year annual earnings-per-share growth rate. PEG Ratio is used to find companies that are trading at a discount to their projected growth. Generally, the higher the PEG Ratio, the pricier the stock. The universe of searched stocks for PEG ratio includes only stocks with an EPS greater than zero.
Use PEG Ratio to measure how much investors are paying for a stock relative to how quickly the stock is expected to grow. Many analysts favor PEG Ratio over Price/Earnings (P/E) Ratio because PEG Ratio accounts for growth. A value less than 1.0 indicates that a stock is trading at a discount to its growth. A value greater than 1.0 indicates a premium. Averages vary sharply by industry, so searching relative to peers makes sense.
Price-Weighted Index
The weight of each security in the index will be based on its price regardless of the shares outstanding of the company.
Primary Exchange
The exchange (e.g., New York Stock Exchange) where a security is primarily purchased or sold.
30-Day SEC Yield
A standard yield calculation developed by the Securities and Exchange Commission (SEC) that allows for a fair comparison of funds. It is based on the most recent 30-day period covered by the fund's filings with the SEC. The yield figure reflects the dividends and interest earned during the past 30 days after the deduction of the fund's expenses.
1. Updated daily.
2. Calculated using the industry standard formula for SEC yield. The formula looks at stated dividends only, exclusive of special or extra dividends as well as actual expenses during the period, average shares outstanding and the NAV on the last day of the period. Only publicly disseminated income and expenses are used and therefore in certain cases the calculation will differ from the Fund Issuer due to withholding taxes on international securities and other misc. issues. SEC Yield is calculated by State Street Bank for Fidelity Fixed Income ETFs and by XTF Inc., an independent third party for Fidelity Equity ETFs and non-Fidelity ETFs. For all ETFs, the value is calculated to at least four decimals and then rounded to two decimals.
Production-Weighted Index
The weight of each commodity in the index will be based on the market value of the commodity produced. Read the ETP's prospectus for details on how market value and production is calculated because there may be significant differences between indices. It is often seen as being akin to weighting an equity index by market capitalization.
Profit Margin
Net profit after taxes divided by sales for a specified period, expressed as a percentage. Profit Margin's time period can either be measured for a given 12 month period (TTM) or using the Most Recent Quarter (MRQ).
Profit Margin is helpful when comparing stocks within similar industries. A higher Profit Margin indicates a more profitable company, which means it's probably doing something right.
Prospectus Objective
A description of the fund's intent, based on a review of its investment objective and strategy as stated in its prospectus.
Purchase Price
The original purchase price per share of the security, or the price per unit of a Fidelity variable annuity investment option. If you do not own the security but would like to track its performance in a watch list, enter the price per share at which you want to begin watching the security, or enter a hypothetical amount to serve as a benchmark.
Quality
Bond Quality is derived using Moody's as the primary ratings source. If Moody's provides no rating for a security, then the S&P rating is used as a secondary source.
Quantity
In a watch list, the number of shares that you have purchased or would like to watch. For a Fidelity variable annuity investment option, the number of units in an investment option.
Quick Ratio
A measure of a company's liquidity, used to evaluate credit worthiness. Also known as the Acid Test Ratio, Quick Ratio is determined by totaling cash, short-term investments, and accounts receivable for the most recent fiscal year, and dividing by the total current liabilities for the same period. Quick Ratio does not apply to banks, insurance companies, and other companies that do not distinguish between current and long-term assets and liabilities.
Quick Search
In a quick stock search, you select any combination of investment style (growth, blend, value, or all), sector (for example, energy, health care, or utilities), and market cap (large, mid, or small).
Quote Date & Time
The date and time the quote was received from the reporting market.
R2
Reflects the percentage of a portfolio's movements that can be explained by movements in its benchmark index. An R-squared of 100 indicates that all movements of a fund can be explained by movements in the benchmark index.
Rate of Change (ROC)
The Price Rate of Change (ROC) indicator provides a percentage that the security's price has changed over the specified Period. The Rate of Change shows the speed at which price changes from one period to another. Sometimes this is referred to as momentum. It gives a excellent indication of the market participants' commitment to the current trend. When the ROC begins to reverse or turn, it indicates diminishing commitment and a loss of momentum. ROC is a leading or coincidental indicator.
Like other momentum indicators, ROC has overbought and oversold zones. These zones are defined by lines that are placed so that ROC spends about 5% of its time within the zones. The lines should be adjusted according to market conditions.
Interpretation:
Ratings
Designations used by investors' services to give relative indications of credit quality.
Ratings Performance (%)
Percentage return on a rating.
Receivables Turnover
Total revenue divided by average accounts receivables for a specified time period. Time periods measured include:
Recognia
Technical analysis charts on Fidelity.com are powered by Recognia, a recognized leader in the field of chart pattern recognition and price forecasting. Recognia's pattern recognition technology can recognize patterns in the price chart of any publicly traded stock.
Region Exposure
An ETP screening criteria that allows the user to see what ETPs hold securities in the selected region(s) by user specified weight. The ETPs Portfolio Composition page summarizes the percentage held in each region with a link to see all individual holdings. The underlying holdings of an ETP are reported at the end of each trading day.
8 regions including:
Region Objective
The ETP has the stated objective of investing primarily in underlying securities of a particular Region of the World as specified in the prospectus. Regions include, but are not limited to Europe, Africa and Asia. It is updated as necessary and as stated in the prospectus or categorized by Marco Polo XTF.
Reiteration
Restatement of the firm's recommendation occurred within the last twelve months.
Relative Strength Comparison
Relative Strength Comparison compares two securities to show how the securities are performing relative to each other.
Interpretation:
Relative Strength Comparison compares a security's price change with that of a "base" security. When the Relative Strength Comparison indicator is moving up, it shows that the security is performing better than the base security. When the indicator is moving sideways, it shows that both securities are performing the same (i.e., rising and falling by the same percentages). When the indicator is moving down, it shows that the security
is performing worse than the base security (i.e., not rising as fast or falling faster).
Relative Strength Comparison is often used to compare a security's performance with a market index. It can also be useful in developing spreads.
Calculation
The Relative Strength Comparison indicator is calculated by dividing one security's price by a second security's price (the "base" security). The result of this division is the ratio, or relationship, between the two securities.
Relative Strength Index (RSI)
The RSI function returns the Relative Strength Index indicator. RSI is one of the classic momentum indicators and was developed by Wells Wilder. RSI measures a market's internal strength by dividing the average of the sum of the up day closing prices by the average of the sum of the down day closing prices over a specific period of time. It returns a value within the range of 0 to 100. The RSI is a leading or a coincidental indicator.
Popular averaging periods for the RSI are 9, 14 and 25. Wilder used 14 periods. Use the Period that works best for you. The indicator becomes more volatile and amplitude widens with fewer periods used.
Interpretation:
Relative Vigor Index (RVI)
The Relative Vigor Index indicator was created by John Ehlers. RVI measures the average difference between closing and opening price, normalized to the average daily trading range. It applies a normalization filter to smooth the index with minimal lag.
Interpretation: RVI reaches extreme high and low levels near the peaks of uptrends and downtrends. Signals could be triggered based on these extreme levels, or wait until RVI crosses above or below a signal line. The RVI indicator accepts a parameter that determines the Period to use in its calculation.
Relative Volatility
A ratio of a portfolio's standard deviation to the standard deviation of a benchmark index. See Volatility Measures.
Relative Intraday Volume
Relative Intraday volume is a measure of trading intensity of a security. At any point during the day, a security can trade at an average, above average or below average volume, compared to historic norms (or expected relative volume).
There are two steps to measuring relative intraday volume. First, is a measure of expected relative volume for a security. This is the 90-day trading volume of the security relative to 90-day volume of the entire market. Second, is a measure of the intraday relative volume at any point during the day. The intraday relative volume is the current volume of the security relative to the current volume of the market as a whole. If the security's current intraday volume exceeds the expected volume, the security has a high relative intraday volume and is expressed as a percent.
Relative intraday volume is calculated every 60 seconds during the trading session and is the ratio of the current relative volume to the expected relative volume.
Equation (optional)
Relative Intraday volume = [(intraday Volume of that security/intraday volume of the market)/(90-day volume of the security/90-day volume of the market)-1]*100
Return
The results of an investment over a period of time.
Return After Taxes on Distributions
Return After Taxes on Distributions are calculated using the historical maximum federal individual marginal income taxes associated distributions and assume that an investor continued to hold the shares. Therefore, they do not reflect the federal income tax impact of gains or losses recognized when shares are sold. These returns do not reflect the impact of state and local taxes and do not take into account any commissions. Actual after-tax returns depend on your tax situation and are not relevant if you hold shares through tax-deferred arrangements such as IRAs or 401(k) plans.
Return After Taxes on Distributions and Sale
Return After Taxes on Distributions and Sale of shares are calculated using the historical maximum federal individual marginal income taxes associated distributions and also reflect the federal income tax impact of gains or losses recognized when shares are sold at the end of the specified period. These returns may exceed before-tax return as a result of an imputed tax benefit received upon realization of tax losses and do not reflect the impact of state and local taxes. They do not take into account any commissions. Actual after-tax returns depend on your tax situation and are not relevant if you hold shares through tax-deferred arrangements such as IRAs or 401(k) plans.
Return Before Taxes
Return Before Taxes is a measure of performance over a given time frame before accounting for the effect of taxes. Dividends generated by, and distributions made on, an investment, as well as gain or losses recognized upon sale of an investment, may be taxable. Taxes may reduce the value of the dividend, distribution or sale proceeds in the hands of the investor. As each investor's tax situation may differ, return before taxes provide a valuable benchmark against which an investor can easily compare the return before taxes of other investments without regard to tax consequences. These returns do not take into account any commissions.
Return of Capital
A distribution or portion of a distribution that is in excess of the net income earned by the fund. In most instances, your own money is being returned to you. The tax treatment usually serves to lower your investment cost basis, but it is important to consult a tax advisor. Return of Capital can be destructive, meaning it is literally your own initial investment being returned, or constructive, meaning that it is arising from unrealized capital gains.
For closed-end funds investing primarily in Master Limited Partnerships, the return of capital is pass-through capital, and is neither destructive nor constructive.
Return on Assets (ROA)
Return on Assets measures the relationship between company profits generated and assets that were used to generate those profits. It tells business owners whether they are earning a worthwhile return from the wealth tied up in their companies. In addition, a low ratio in comparison to other companies may indicate that your competitors have found ways to operate more efficiently.
ROA is calculated by dividing Net Income Before Taxes by Total Assets for a specified period. Time periods measured include:
Return on Equity (ROE)
Return on Equity measures how well a company uses reinvested earnings to generate additional earnings. ROE is calculated by dividing a company's after-tax income by Shareholder's Equity for a specified period, expressed as a percentage. Time periods measured include:
Return on Investment (ROI)
Return on Investment measures how effectively a company uses its capital to generate profit. ROI is calculated by dividing income by common stock and preferred stock equity plus long-term debt over a specified time period. Time periods measured include:
Return on Sales (ROS)
Return on Sales is often used by management to monitor operational efficiency. When viewed over time, an increase in ROS indicates a company is growing more efficient, while decreases could signal operational issues. ROS is calculated by dividing a company's net income by Total (or Gross) Sales, also known as a company's Operating Profit Margin. Time periods measured include:
Returns
In a watch list, the average load-adjusted return over the time periods shown (e.g., YTD, 1 Yr). If the fund has not been in existence for the full time period, the average return for the life of the fund is displayed. Returns are updated monthly.
Revenue
Total goods and/or services sold by a company (also referred to as Total Net Sales) during a specified time period. Revenue is a result of the normal operations of the company. In cases where a divestiture or sale has occurred, the effect of the transaction would also be reflected in revenue. Revenue is measured in Trailing Twelve Months (TTM).
On its own, revenue is a measure of size only, and possibly of industry leadership.
Revenue Growth
A measure (percent) of how much more (or less) the company has sold during a specified time period. Time periods measured include:
Revenue Per Employee
A measure of the efficiency of the company as a whole. Revenue Per Employee is calculated by dividing the total goods and/or services sold by a company (also referred to as Total Net Sales) by the total number of employees. The higher the Revenue Per Employee, the more efficient the operation, and therefore the more sustainable and profitable. Revenue Per Employee should only be used to compare companies in the same industry.
Revenue-Weighted Index
The weight of each security in the index will be based on the annual revenue generated by the company. Read the ETP's prospectus to determine if the index is based on net or gross revenue.
RiskMetrics Group, Inc.(formerly KLD Research & Analytics, Inc.)
The RiskMetrics ESG Analytics team provides research products that enable investors to integrate environmental, social and governance (ESG) factors into their investment strategies and analysis. Formed from ESG pioneers Innovest, KLD, and ISS, ESG Analytics offers one of the most comprehensive ESG data set, and more than 20 years of experience.
Rolling Dividend
An indicator plotting a stock's or mutual fund's rolling 52-week dividend as dollars per share. Rolling Dividend appears when a company or mutual fund raises or lowers the dividends it pays to shareholders.
Rolling EPS
An indicator plotting a stock's 12-month rolling earnings over the specified time period.
Russell 1000® Growth Index
An unmanaged, market capitalization-weighted index of those stocks of the 1,000 largest U.S. domiciled companies that exhibit growth-oriented characteristics.
Russell 1000® Index
The largest 1,000 companies in the Russell 3000® Index. This unmanaged index represents the universe of large capitalization stocks from which most active money managers typically select. The Index was developed with a base value of 130.00 as of December 31, 1986.
Russell 1000® Value Index
An unmanaged, market capitalization-weighted index of those stocks of the 1,000 largest U.S. domiciled companies that exhibit value-oriented characteristics.
Russell 2000® Index
An unmanaged, market capitalization-weighted index measuring the performance of the smallest 2,000 companies in the Russell 3000 index.
Russell 2000 Growth
An unmanaged index that measures the performance of those Russell 2000 companies with higher price-to-book ratios and higher forecasted growth values.
Russell 2000 Value
An unmanaged index that measures the performance of those Russell 2000 companies with lower price-to-book ratios and lower forecasted growth values.
Russell 3000® Index
An unmanaged, market-capitalization weighted index measuring the performance of the 3,000 largest US companies based on total market capitalization. The Russell 3000 represents approximately 98% of the U.S. equity market. In order to provide a comprehensive, unbiased, and stable barometer of the broad market, the Russell 3000 is reconstructed every year to account for new and quickly growing equities.
Russell Midcap Index
An unmanaged index that measures the performance of the 800 smallest companies in the Russell 1000® Index, which represent approximately 26% of the total market capitalization of the Russell 1000 Index.
Russell® Midcap Growth Index
An unmanaged, market capitalization-weighted index of the smallest 800 companies included in the Russell 1000® Index that exhibit growth-oriented characteristics. The Russell 1000 Index is comprised of the 1,000 largest U.S. domiciled companies.
Russell® Midcap Value Index
An unmanaged, market capitalization-weighted index of the smallest 800 companies included in the Russell 1000® Index that exhibit value-oriented characteristics. The Russell 1000 Index is comprised of the 1,000 largest U.S. domiciled companies.