FBCV vs SEIV

FBCVCFidelity Blue Chip Value ETF

SEIVASEI QiM U.S. Large Cap Value Active ETF

In short

FBCV A stock-picker's value fund, not a screen. Fidelity's managers run a concentrated book of large caps they judge to be trading well below what the businesses are worth, in an aisle crowded with cheap rules-based rivals.

SEIV Active quant value stock-picking at an index-fund price. SEIV screens U.S. large caps for cheap valuations plus quality, momentum and low volatility, then runs a concentrated book of roughly 80 names for 0.15% a year.

Stated mandate

FBCV The fund seeks capital appreciation through a concentrated, large-cap value strategy focused on companies trading meaningfully below estimated intrinsic value and offering a margin of safety.

SEIV The Fund seeks long-term capital appreciation through primarily U.S. common stocks priced below fundamental valuation measures, using a quantitative, active stock-selection approach.

Why people hold it

• FBCV Genuinely active: a concentrated portfolio of large caps the managers judge to be trading meaningfully below intrinsic value, with a margin of safety, rather than a rules-based screen.fidelity.com
• Holdings quality and risk profile both land in the upper half of its active US value peer group.
• Live since 2020, so there's a real record to judge instead of a backtest, and the fund pays out quarterly.

• SEIV 0.15% a year for genuine active selection, against a 0.55% median in its U.S. value peer group. It matches the cheapest large-value quant funds rather than charging active prices.
• Value is not the only screen. The model also weighs quality, momentum and low volatility, which is how a cheap-stock strategy tries to avoid the cheap-for-a-reason trap.
• Other funds measured against the S&P 500 in this cohort charge far more (LSVD 0.40%, GSPY 0.50%, VNSE 1.34%). SEIV runs its version at 0.15%.
• Sits among the strongest implementations in a crowded U.S. value field, and trades with enough regular activity to be workable for ordinary retail order sizes.

Worth knowing

• FBCV 0.57% is active pricing. Systematic value rivals in the same peer group charge a fraction (AVLV 0.15%, WTV 0.12%), a gap the stock picking has to cover.
• Trades lightly and stays modest in size, so bid-ask spreads can run wider than at the category's household names.
• Concentrated by design: individual stock calls move results more than they would in a broad value index.

• SEIV About 80 stocks measured against a 500-name benchmark. That concentration means stretches where it looks nothing like the S&P 500, in either direction.
• Launched in 2022, so the live record is short, and the asset base is mid-sized rather than among the giants of the value aisle.
• You get the factor recipe, not the trade-by-trade logic: selection sits inside a quantitative model. Distributions land quarterly, not monthly.

Full FBCV profile⁠

Full SEIV profile⁠