ACWV vs. FBUF ETF Comparison

Comparison of iShares MSCI All Country World Minimum Volatility Index Fund (ACWV) to Fidelity Dynamic Buffered Equity ETF (FBUF)

ACWV

iShares MSCI All Country World Minimum Volatility Index Fund

ACWV Description

The investment seeks to track the investment results of an index composed of developed and emerging market equities that, in the aggregate, have lower volatility characteristics relative to the broader developed and emerging equity markets. The fund generally invests at least 90% of its assets in securities of the underlying index or in depositary receipts representing securities in the underlying index. It seeks to track the underlying index, which has been developed by MSCI Inc. ("MSCI") to measure the combined performance of equity securities in both emerging and developed markets that in aggregate have lower volatility. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$114.52

Average Daily Volume

117,990

Number of Holdings ^*

139

* may have additional holdings in another (foreign) market

FBUF

Fidelity Dynamic Buffered Equity ETF

FBUF Description

FBUF seeks capital appreciation by investing in a large-cap equity portfolio of US and foreign stocks while utilizing a defensive options collar strategy. The fund aims to outperform the S&P 500 by picking stocks using a computer-aided, quantitative analysis of historical valuation, growth, and profitability, among other factors. The proprietary process seeks to find the optimal portfolio holdings, overweight stocks with positive characteristics, and manage benchmark relative risks. For the options strategy, the fund typically buys out-of-the-money put options on the S&P 500 Index and simultaneously sells out-of-the-money S&P 500 Index call options. Premium earned from writing calls is intended to offset the cost of buying puts, but this essentially caps the upside returns of the equity portfolio. For a continuous downside hedge, the adviser selects put options through a laddered approach that rolls monthly. The adviser diversifies the written call positions, which are rolled weekly, with different strike prices and expiration dates.

Grade (RS Rating)

Last Trade

$27.53

Average Daily Volume

5,177

Number of Holdings ^*

155

* may have additional holdings in another (foreign) market

Performance

Period	ACWV	FBUF
30 Days	0.32%	3.10%
60 Days	-0.25%	4.70%
90 Days	1.23%	6.08%
12 Months	18.77%

43 Overlapping Holdings

Symbol	Grade	Weight in ACWV	Weight in FBUF	Overlap
ABBV	D	0.49%	0.91%	0.49%
ABT	B	0.1%	0.63%	0.1%
AMGN	D	0.34%	0.25%	0.25%
ANET	C	0.06%	0.06%	0.06%
AON	A	0.35%	0.12%	0.12%
BDX	F	0.22%	0.58%	0.22%
BMY	B	0.25%	0.74%	0.25%
BRK.A	B	0.91%	2.2%	0.91%
CAH	B	0.18%	0.31%	0.18%
CI	F	0.24%	0.63%	0.24%
CL	D	0.35%	0.55%	0.35%
CME	A	0.23%	0.44%	0.23%
CSCO	B	1.57%	0.8%	0.8%
ED	D	0.84%	0.1%	0.1%
GEN	B	0.3%	0.13%	0.13%
GILD	C	0.48%	0.74%	0.48%
INCY	C	0.38%	0.34%	0.34%
JNJ	D	1.05%	0.73%	0.73%
KR	B	0.83%	0.12%	0.12%
LLY	F	0.52%	0.76%	0.52%
LMT	D	0.23%	0.71%	0.23%
MA	C	0.19%	1.36%	0.19%
MMC	B	0.88%	0.53%	0.53%
MRK	F	1.06%	0.96%	0.96%
MSFT	F	0.76%	5.66%	0.76%
MSI	B	1.88%	0.43%	0.43%
NBIX	C	0.31%	0.06%	0.06%
NOC	D	0.77%	0.6%	0.6%
ORCL	B	0.54%	0.04%	0.04%
PEP	F	1.08%	0.19%	0.19%
PG	A	0.82%	0.8%	0.8%
PGR	A	0.84%	0.67%	0.67%
RSG	A	1.19%	0.23%	0.23%
T	A	0.26%	0.71%	0.26%
TJX	A	0.37%	0.72%	0.37%
TMUS	B	2.03%	0.28%	0.28%
TRV	B	0.32%	0.26%	0.26%
UNH	C	0.83%	0.57%	0.57%
UTHR	C	0.4%	0.04%	0.04%
V	A	0.59%	0.65%	0.59%
WM	A	1.5%	0.41%	0.41%
WMT	A	1.82%	0.82%	0.82%
XOM	B	0.1%	1.56%	0.1%

ACWV Overweight 96 Positions Relative to FBUF

Symbol	Grade	Weight
MCK	B	1.42%
ROP	B	1.36%
VRTX	F	1.13%
COR	B	1.05%
MCD	D	1.02%
CB	C	0.88%
DUK	C	0.81%
SO	D	0.8%
AZO	C	0.77%
VZ	C	0.76%
IBM	C	0.73%
WEC	A	0.68%
GDDY	A	0.64%
EA	A	0.63%
ORLY	B	0.62%
REGN	F	0.61%
GIS	D	0.61%
K	A	0.57%
ACGL	D	0.57%
CBOE	B	0.54%
APH	A	0.54%
FI	A	0.48%
CHD	B	0.46%
HSY	F	0.44%
MKL	A	0.43%
ELV	F	0.42%
WRB	A	0.41%
KEYS	A	0.41%
L	A	0.4%
WCN	A	0.39%
CHT	D	0.37%
BAH	F	0.37%
KDP	D	0.36%
FFIV	B	0.36%
VRSN	F	0.35%
KHC	F	0.33%
AJG	B	0.33%
TSN	B	0.32%
JNPR	F	0.32%
HUM	C	0.31%
BRO	B	0.3%
KMB	D	0.3%
AKAM	D	0.27%
SJM	D	0.27%
ACN	C	0.26%
ERIE	D	0.26%
MDLZ	F	0.25%
CF	B	0.25%
YUM	B	0.24%
FCNCA	A	0.23%
HRL	D	0.23%
FWONK	B	0.22%
PTC	A	0.22%
CPB	D	0.22%
CTSH	B	0.21%
ROL	B	0.21%
MFG	B	0.21%
JKHY	D	0.2%
BMRN	D	0.19%
DPZ	C	0.19%
GD	F	0.18%
LNG	B	0.16%
ULTA	F	0.16%
CMS	C	0.16%
MPC	D	0.15%
DGX	A	0.15%
AIZ	A	0.13%
WIT	A	0.12%
CTVA	C	0.12%
MOH	F	0.12%
FICO	B	0.12%
MNST	C	0.12%
AZPN	A	0.11%
TDY	B	0.11%
AEE	A	0.11%
XEL	A	0.11%
EG	C	0.1%
WTW	B	0.1%
WDAY	B	0.1%
PCG	A	0.1%
TPL	A	0.1%
NEM	D	0.09%
TRGP	B	0.08%
AEP	D	0.07%
IT	C	0.07%
KNX	B	0.06%
DINO	D	0.06%
FANG	D	0.06%
CHRW	C	0.06%
CAG	D	0.05%
GPC	D	0.05%
HOLX	D	0.05%
ACI	C	0.05%
KO	D	0.05%
HSIC	B	0.05%
HKD	F	0.0%

ACWV Underweight 112 Positions Relative to FBUF

Symbol	Grade	Weight
NVDA	C	-7.37%
AAPL	C	-7.34%
AMZN	C	-3.84%
META	D	-2.89%
GOOGL	C	-2.04%
JPM	A	-1.93%
GOOG	C	-1.89%
AVGO	D	-1.62%
HD	A	-1.32%
NFLX	A	-1.28%
TSLA	B	-1.27%
BAC	A	-1.18%
CRM	B	-1.16%
PM	B	-0.94%
ADBE	C	-0.94%
QCOM	F	-0.85%
CMCSA	B	-0.84%
NEE	D	-0.82%
SCHW	B	-0.79%
UNP	C	-0.75%
PYPL	B	-0.72%
C	A	-0.72%
TT	A	-0.68%
AMAT	F	-0.67%
CTAS	B	-0.65%
DIS	B	-0.65%
ECL	D	-0.63%
KLAC	D	-0.61%
SQ	B	-0.6%
SEIC	B	-0.54%
ZM	B	-0.53%
CAT	B	-0.53%
DBX	B	-0.52%
ZBRA	B	-0.52%
CVNA	B	-0.52%
DVN	F	-0.52%
MU	D	-0.5%
NOW	A	-0.5%
TXT	D	-0.5%
CSX	B	-0.49%
GE	D	-0.48%
EOG	A	-0.48%
CMG	B	-0.47%
IGT	F	-0.46%
SPG	B	-0.44%
GRMN	B	-0.44%
AXP	A	-0.43%
EXEL	B	-0.43%
PFE	D	-0.41%
TMO	F	-0.38%
HWM	A	-0.38%
ALLE	D	-0.38%
PCAR	B	-0.37%
NUE	C	-0.36%
ANF	C	-0.35%
TDC	D	-0.35%
ALRM	C	-0.34%
PPG	F	-0.34%
F	C	-0.33%
LDOS	C	-0.31%
SKYW	B	-0.31%
COST	B	-0.3%
RTX	C	-0.28%
MEDP	D	-0.28%
TROW	B	-0.28%
WFC	A	-0.28%
ADP	B	-0.26%
MSCI	C	-0.26%
UBER	D	-0.24%
SYK	C	-0.24%
LRCX	F	-0.24%
CVS	D	-0.23%
MGM	D	-0.23%
AMT	D	-0.21%
LHX	C	-0.21%
SPGI	C	-0.21%
GAP	C	-0.21%
BIIB	F	-0.21%
FTNT	C	-0.2%
MMM	D	-0.19%
TPH	D	-0.18%
SSNC	B	-0.18%
CACI	D	-0.17%
PSA	D	-0.17%
LNW	D	-0.16%
BBWI	D	-0.16%
OXY	D	-0.15%
IDXX	F	-0.15%
VST	B	-0.14%
CLX	B	-0.14%
ITW	B	-0.14%
GL	B	-0.13%
BK	A	-0.12%
INTU	C	-0.12%
NSC	B	-0.11%
DASH	A	-0.11%
LPLA	A	-0.11%
UNM	A	-0.1%
AME	A	-0.09%
TWLO	A	-0.09%
NRG	B	-0.09%
DOCU	A	-0.09%
LYFT	C	-0.08%
CINF	A	-0.07%
PLTK	B	-0.07%
CRUS	D	-0.07%
QRVO	F	-0.06%
VEEV	C	-0.04%
TNL	A	-0.04%
TOL	B	-0.02%
CVX	A	-0.02%
PEGA	A	-0.02%