AFLG vs. FBUF ETF Comparison

Comparison of Active Factor Large Cap ETF (AFLG) to Fidelity Dynamic Buffered Equity ETF (FBUF)

AFLG

Active Factor Large Cap ETF

AFLG Description

The investment seeks to provide capital appreciation. Under normal market conditions, the fund will invest at least 80% of its net assets (including investment borrowings) in U.S.-listed equity securities issued by large capitalization companies. The manager defines large capitalization companies as those that, at the time of investment, have a minimum market capitalization equal to or greater than the minimum market capitalization of a widely recognized index of large capitalization companies based upon the composition of the index at the time of investment. It is non-diversified.

Grade (RS Rating)

Last Trade

$35.73

Average Daily Volume

35,934

Number of Holdings ^*

248

* 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	AFLG	FBUF
30 Days	4.50%	3.10%
60 Days	5.60%	4.70%
90 Days	7.89%	6.08%
12 Months	37.65%

81 Overlapping Holdings

Symbol	Grade	Weight in AFLG	Weight in FBUF	Overlap
AAPL	C	7.06%	7.34%	7.06%
ABBV	D	0.82%	0.91%	0.82%
ADBE	C	0.31%	0.94%	0.31%
ALLE	D	0.01%	0.38%	0.01%
AMAT	F	0.34%	0.67%	0.34%
AMZN	C	1.78%	3.84%	1.78%
ANET	C	0.13%	0.06%	0.06%
AVGO	D	1.27%	1.62%	1.27%
AXP	A	0.41%	0.43%	0.41%
BBWI	D	0.13%	0.16%	0.13%
BK	A	0.73%	0.12%	0.12%
BMY	B	0.58%	0.74%	0.58%
BRK.A	B	1.57%	2.2%	1.57%
CAH	B	0.11%	0.31%	0.11%
CAT	B	0.56%	0.53%	0.53%
CI	F	0.15%	0.63%	0.15%
CL	D	0.58%	0.55%	0.55%
CMCSA	B	0.55%	0.84%	0.55%
CME	A	0.23%	0.44%	0.23%
CMG	B	0.32%	0.47%	0.32%
COST	B	0.9%	0.3%	0.3%
CRM	B	0.59%	1.16%	0.59%
CSCO	B	0.44%	0.8%	0.44%
CTAS	B	0.7%	0.65%	0.65%
CVNA	B	0.07%	0.52%	0.07%
CVS	D	0.18%	0.23%	0.18%
CVX	A	0.45%	0.02%	0.02%
DASH	A	0.06%	0.11%	0.06%
DVN	F	0.29%	0.52%	0.29%
ECL	D	0.52%	0.63%	0.52%
ED	D	0.25%	0.1%	0.1%
GE	D	0.15%	0.48%	0.15%
GEN	B	0.1%	0.13%	0.1%
GILD	C	0.57%	0.74%	0.57%
GL	B	0.16%	0.13%	0.13%
GOOGL	C	2.04%	2.04%	2.04%
GRMN	B	0.41%	0.44%	0.41%
HWM	A	0.46%	0.38%	0.38%
INCY	C	0.22%	0.34%	0.22%
JNJ	D	0.7%	0.73%	0.7%
KLAC	D	0.1%	0.61%	0.1%
KR	B	0.47%	0.12%	0.12%
LDOS	C	0.13%	0.31%	0.13%
LLY	F	0.42%	0.76%	0.42%
LMT	D	0.34%	0.71%	0.34%
MA	C	0.21%	1.36%	0.21%
META	D	1.8%	2.89%	1.8%
MMM	D	0.55%	0.19%	0.19%
MRK	F	0.62%	0.96%	0.62%
MSFT	F	4.6%	5.66%	4.6%
MSI	B	0.39%	0.43%	0.39%
NFLX	A	0.91%	1.28%	0.91%
NRG	B	0.81%	0.09%	0.09%
NUE	C	0.37%	0.36%	0.36%
NVDA	C	5.45%	7.37%	5.45%
PCAR	B	0.39%	0.37%	0.37%
PG	A	0.84%	0.8%	0.8%
PGR	A	0.73%	0.67%	0.67%
PM	B	0.35%	0.94%	0.35%
PPG	F	0.19%	0.34%	0.19%
PSA	D	0.05%	0.17%	0.05%
QCOM	F	0.88%	0.85%	0.85%
QRVO	F	0.05%	0.06%	0.05%
SPG	B	0.58%	0.44%	0.44%
SPGI	C	0.08%	0.21%	0.08%
SSNC	B	0.09%	0.18%	0.09%
SYK	C	0.15%	0.24%	0.15%
T	A	0.18%	0.71%	0.18%
TJX	A	0.38%	0.72%	0.38%
TMUS	B	0.35%	0.28%	0.28%
TOL	B	0.16%	0.02%	0.02%
TROW	B	0.2%	0.28%	0.2%
TT	A	0.49%	0.68%	0.49%
TXT	D	0.07%	0.5%	0.07%
UNH	C	0.27%	0.57%	0.27%
UTHR	C	0.04%	0.04%	0.04%
V	A	0.3%	0.65%	0.3%
VST	B	1.26%	0.14%	0.14%
WMT	A	0.61%	0.82%	0.61%
XOM	B	0.74%	1.56%	0.74%
ZM	B	0.23%	0.53%	0.23%

AFLG Overweight 167 Positions Relative to FBUF

Symbol	Grade	Weight
APP	B	1.29%
HIG	B	1.11%
MO	A	0.99%
UHS	D	0.89%
FICO	B	0.8%
RL	B	0.79%
AFL	B	0.75%
EME	C	0.68%
BSX	B	0.68%
ELV	F	0.67%
RS	B	0.66%
SNA	A	0.63%
NTAP	C	0.63%
CEG	D	0.62%
FFIV	B	0.6%
APH	A	0.58%
PEG	A	0.57%
COR	B	0.57%
GDDY	A	0.55%
ETN	A	0.55%
FOXA	B	0.55%
MCK	B	0.53%
PHM	D	0.52%
FE	C	0.52%
CMI	A	0.51%
MAS	D	0.5%
VZ	C	0.49%
HPQ	B	0.49%
STLD	B	0.47%
MAA	B	0.47%
BBY	D	0.47%
NVR	D	0.47%
TPR	B	0.47%
CTSH	B	0.45%
VICI	C	0.44%
IBM	C	0.44%
GLPI	C	0.42%
CF	B	0.42%
CNA	B	0.42%
WSM	B	0.41%
ICE	C	0.4%
CSL	C	0.39%
HSIC	B	0.39%
IBKR	A	0.39%
WAB	B	0.38%
CBOE	B	0.38%
AOS	F	0.38%
HST	C	0.37%
HLT	A	0.36%
TRGP	B	0.36%
PKG	A	0.36%
FIS	C	0.36%
RHI	B	0.36%
OC	A	0.36%
IP	B	0.34%
BLDR	D	0.33%
KO	D	0.33%
WELL	A	0.32%
EA	A	0.32%
DHI	D	0.32%
LEN	D	0.32%
VLO	C	0.31%
LOW	D	0.31%
BRO	B	0.3%
EVRG	A	0.29%
RF	A	0.29%
WU	D	0.29%
SYF	B	0.29%
AIG	B	0.28%
VSCO	B	0.28%
DECK	A	0.28%
BKNG	A	0.28%
CFG	B	0.27%
OGN	D	0.27%
MANH	D	0.25%
SOLV	C	0.25%
MTCH	D	0.25%
LII	A	0.25%
ERIE	D	0.24%
FDX	B	0.24%
EIX	B	0.23%
PH	A	0.23%
KEYS	A	0.22%
ACN	C	0.22%
VRSN	F	0.21%
VTR	C	0.21%
ALNY	D	0.21%
WPC	D	0.21%
EXPE	B	0.21%
NWSA	B	0.2%
GWW	B	0.2%
SWKS	F	0.2%
SHW	A	0.19%
CNC	D	0.19%
JBL	B	0.18%
L	A	0.18%
HUM	C	0.17%
BAH	F	0.17%
BEN	C	0.17%
AZO	C	0.17%
ACGL	D	0.17%
AMP	A	0.16%
AIZ	A	0.16%
LKQ	D	0.16%
VRT	B	0.16%
EG	C	0.15%
CPT	B	0.15%
ULTA	F	0.14%
DELL	C	0.14%
MPC	D	0.13%
SO	D	0.13%
IT	C	0.12%
FI	A	0.12%
SCCO	F	0.11%
RPM	A	0.11%
RMD	C	0.1%
EQR	B	0.1%
VTRS	A	0.1%
EBAY	D	0.1%
KHC	F	0.1%
ETSY	D	0.09%
PSX	C	0.09%
PRU	A	0.09%
CRBG	B	0.09%
BLK	C	0.09%
LH	C	0.09%
ALL	A	0.08%
TPL	A	0.08%
J	F	0.08%
DXC	B	0.08%
MOH	F	0.08%
BG	F	0.07%
LYB	F	0.07%
IPG	D	0.07%
ROL	B	0.06%
SNPS	B	0.06%
DINO	D	0.06%
WSO	A	0.06%
ADM	D	0.06%
ZION	B	0.06%
ORLY	B	0.06%
UDR	B	0.05%
PPL	B	0.05%
NXPI	D	0.05%
DPZ	C	0.05%
ESS	B	0.05%
AVB	B	0.05%
WTW	B	0.05%
MCO	B	0.05%
EPAM	C	0.05%
CDNS	B	0.05%
STT	A	0.05%
KMB	D	0.05%
PINS	D	0.04%
AMCR	D	0.04%
PFG	D	0.04%
HOLX	D	0.04%
ROST	C	0.04%
IVZ	B	0.04%
MET	A	0.04%
DKS	C	0.04%
MOS	F	0.03%
CDW	F	0.03%
WBA	F	0.03%
BWA	D	0.03%
EQH	B	0.0%
TDG	D	0.0%

AFLG Underweight 74 Positions Relative to FBUF

Symbol	Grade	Weight
JPM	A	-1.93%
GOOG	C	-1.89%
HD	A	-1.32%
TSLA	B	-1.27%
BAC	A	-1.18%
NEE	D	-0.82%
SCHW	B	-0.79%
UNP	C	-0.75%
PYPL	B	-0.72%
C	A	-0.72%
DIS	B	-0.65%
ABT	B	-0.63%
SQ	B	-0.6%
NOC	D	-0.6%
BDX	F	-0.58%
SEIC	B	-0.54%
MMC	B	-0.53%
DBX	B	-0.52%
ZBRA	B	-0.52%
MU	D	-0.5%
NOW	A	-0.5%
CSX	B	-0.49%
EOG	A	-0.48%
IGT	F	-0.46%
EXEL	B	-0.43%
WM	A	-0.41%
PFE	D	-0.41%
TMO	F	-0.38%
ANF	C	-0.35%
TDC	D	-0.35%
ALRM	C	-0.34%
F	C	-0.33%
SKYW	B	-0.31%
RTX	C	-0.28%
MEDP	D	-0.28%
WFC	A	-0.28%
TRV	B	-0.26%
ADP	B	-0.26%
MSCI	C	-0.26%
AMGN	D	-0.25%
UBER	D	-0.24%
LRCX	F	-0.24%
RSG	A	-0.23%
MGM	D	-0.23%
AMT	D	-0.21%
LHX	C	-0.21%
GAP	C	-0.21%
BIIB	F	-0.21%
FTNT	C	-0.2%
PEP	F	-0.19%
TPH	D	-0.18%
CACI	D	-0.17%
LNW	D	-0.16%
OXY	D	-0.15%
IDXX	F	-0.15%
CLX	B	-0.14%
ITW	B	-0.14%
INTU	C	-0.12%
AON	A	-0.12%
NSC	B	-0.11%
LPLA	A	-0.11%
UNM	A	-0.1%
AME	A	-0.09%
TWLO	A	-0.09%
DOCU	A	-0.09%
LYFT	C	-0.08%
CINF	A	-0.07%
PLTK	B	-0.07%
CRUS	D	-0.07%
NBIX	C	-0.06%
ORCL	B	-0.04%
VEEV	C	-0.04%
TNL	A	-0.04%
PEGA	A	-0.02%