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Fidelity Covington Trust - Fidelity Clean Energy ETF (FRNW)
Look-through valuation · Sector · Expense ratio 0.39 % · ISIN US3160922536
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 |
|---|---|---|---|
| GE Vernova LLC GEV | 5.5 % | −87.3 % | 65 |
| Vestas Wind Systems A/S VWS | 4.9 % | −40.1 % | 60 |
| First Solar Inc FSLR | 4.0 % | +72.9 % | 65 |
| EDP - Energias de Portugal S.A. EDP | 4.0 % | −14.7 % | 43 |
| Bloom Energy Corp BE | 3.4 % | n/a | n/a |
| Enlight Renewable Energy Ltd ENLT | 3.2 % | n/a | n/a |
| Nextracker Inc. Class A Common Stock NXT | 3.1 % | −32.9 % | 67 |
| Orsted A/S ORSTED | 3.1 % | n/a | n/a |
| Itron Inc ITRI | 2.9 % | +38.0 % | 63 |
| VERBUND AG VER | 2.6 % | −2.8 % | 57 |
| Nordex SE NDX1 | 2.5 % | −35.4 % | 46 |
| Ormat Technologies Inc ORA | 2.5 % | −70.4 % | 38 |
| E.ON SE EOAN | 2.4 % | −35.8 % | 39 |
| Acciona ANA | 2.4 % | +25.9 % | 47 |
| Brookfield Renewable Corp BEPC | 2.3 % | +79.3 % | 16 |
| Vinci S.A. DG | 2.3 % | +52.2 % | 55 |
| Meridian Energy Ltd MEL | 2.3 % | n/a | n/a |
| Northland Power Inc. NPI | 2.3 % | +52.4 % | 48 |
| Clearway Energy Inc Class C CWEN | 2.1 % | +21.5 % | 42 |
| EDP Renovaveis EDPR | 2.0 % | −72.8 % | 42 |
| Enphase Energy Inc ENPH | 1.9 % | +1.9 % | 61 |
| CGN Power 1816 | 1.9 % | n/a | n/a |
| Mercury NZ Limited MCY | 1.9 % | n/a | n/a |
| Boralex Inc BLX | 1.9 % | n/a | n/a |
| China Longyuan Power Group Corp Ltd 0916 | 1.8 % | +77.7 % | 47 |
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 +71.9 % below FV
- 2 FXI iShares China Large-Cap ETF +53.7 % below FV
- 3 CHIQ Global X MSCI China Consumer Disc ETF +48.5 % below FV
- 4 FLCH Franklin FTSE China ETF +36.0 % below FV
- 5 KWEB KraneShares CSI China Internet ETF +33.5 % below FV
- 6 FCFY First Trust S&P 500 Diversified Free Cash Flow ETF +32.5 % below FV
- 7 MCHI iShares MSCI China ETF +28.0 % below FV
- 8 ITB iShares U.S. Home Construction ETF +13.7 % below FV
- 9 C003 Amundi Index Solutions - Amundi DivDAX I UCITS ETF EUR Distributing +12.7 % below FV
- 10 TAN Invesco Solar ETF +10.8 % below FV
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 Clean Energy ETF an average of how cheap or expensive its companies currently sit versus fair value, and how high their average quality is.
As of: Aug 14, 2026
The look-through is a computed summary of public fundamentals and is no substitute for your own research.