Fidelity International Value ETF (FCIV.TO)

This exchange-traded fund (ETF) employs a passive investment strategy, concentrating its efforts on the international value stock segment. Its holdings consist of large and mid-sized companies situated in developed economies, specifically excluding those domiciled in the U.S. and Canada. These enterprises are chosen for appearing inexpensive relative to their industry peers, a determination made using a comprehensive value metric that also accounts for company size. This primary valuation score is typically derived from a weighted average of four key financial indicators: free cash flow yield, enterprise value to earnings before interest, taxes, depreciation, and amortization (EV/EBITDA), price-to-book (P/B) ratio, and forward price-to-earnings (P/E) ratio. However, a specialized calculation applies to banking stocks, for which only the P/B and forward P/E…