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Fidelity Cloud Computing (FCLD)Overvalued or undervalued?
Look-through valuation · Theme · Expense ratio 0.39 % · ISIN US3160922460
Price history (since 2021)
Monthly close since 2021. Price shows performance, the valuation verdict is in the look-through above.
Top holdings
| Holding | Weight | vs fair value | Quality |
|---|---|---|---|
| Salesforce.com Inc CRM | 5.7 % | −3.0 % | 84 |
| Microsoft Corporation MSFT | 4.9 % | −23.3 % | 66 |
| ServiceNow Inc NOW | 4.5 % | −68.0 % | 66 |
| Snowflake Inc. SNOW | 4.2 % | −86.2 % | 64 |
| Seagate Technology PLC STX | 3.7 % | −92.4 % | 80 |
| Sandisk Corp SNDK | 3.6 % | n/a | n/a |
| Equinix Inc EQIX | 3.4 % | −80.4 % | 48 |
| Western Digital Corporation WDC | 3.3 % | −91.0 % | 71 |
| Atlassian Corp Plc TEAM | 3.2 % | −33.9 % | 59 |
| Workday Inc WDAY | 3.0 % | −51.9 % | 69 |
| Datadog Inc DDOG | 2.9 % | −96.5 % | 52 |
| Digital Realty Trust Inc DLR | 2.8 % | −67.3 % | 47 |
| MongoDB MDB | 2.5 % | −75.0 % | 52 |
| Everpure, Inc. P | 2.4 % | −89.0 % | 64 |
| NetApp Inc NTAP | 2.4 % | −14.3 % | 80 |
| Applovin Corp APP | 2.3 % | −20.9 % | 92 |
| Twilio Inc TWLO | 2.2 % | −95.0 % | 72 |
| Nutanix Inc NTNX | 2.0 % | −83.9 % | 54 |
| Dynatrace Holdings LLC DT | 1.9 % | −69.3 % | 71 |
| Zoom Video Communications Inc ZM | 1.9 % | +14.0 % | 76 |
| Amazon.com Inc AMZN | 1.9 % | −49.9 % | 54 |
| DocuSign Inc DOCU | 1.8 % | −39.3 % | 69 |
| Uipath Inc PATH | 1.7 % | −45.2 % | 78 |
| HubSpot Inc HUBS | 1.7 % | −89.3 % | 60 |
| Elastic NV ESTC | 1.7 % | −32.9 % | 60 |
Fair value and quality per position come from the same valuation as our stock pages. Showing the 25 largest of 49 disclosed positions. "n/a" means the position is not (yet) in our stock universe and does not enter the average.
The 10 most cheaply valued ETFs
Measured against the look-through fair value of the holdings (sufficiently covered funds only). Green means below fair value, red above. Not financial advice.
- 1 CHIU Global X MSCI China Utilities ETF +65.2 % below FV
- 2 CHIQ Global X MSCI China Consumer Disc ETF +56.4 % below FV
- 3 FXI iShares China Large-Cap ETF +52.9 % below FV
- 4 KWEB KraneShares CSI China Internet ETF +44.4 % below FV
- 5 FLCH Franklin FTSE China ETF +38.3 % below FV
- 6 FCFY First Trust S&P 500 Diversified Free Cash Flow ETF +29.9 % below FV
- 7 MCHI iShares MSCI China ETF +28.1 % below FV
- 8 ITB iShares U.S. Home Construction ETF +18.6 % below FV
- 9 TAN Invesco Solar ETF +17.9 % below FV
- 10 C003 Amundi Index Solutions - Amundi DivDAX I UCITS ETF EUR Distributing +8.4 % below FV
Frequently asked about FCLD
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What is the fair value of FCLD?
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How we value this ETF
An ETF has no fair value of its own like a single stock. We build it bottom up: every holding has a fair value and a quality score on our pages. Weighted by portfolio share, that gives Fidelity Covington Trust - Fidelity Cloud Computing ETF an average of how cheap or expensive its companies currently sit versus fair value, and how high their average quality is.
As of: Sep 4, 2026
The look-through is a computed summary of public fundamentals and is no substitute for your own research.