ALAI vs. FHEQ ETF Comparison

Comparison of Alger AI Enablers & Adopters ETF (ALAI) to Fidelity Hedged Equity ETF (FHEQ)

ALAI

Alger AI Enablers & Adopters ETF

ALAI Description

ALAI focuses on equity securities of firms benefiting from artificial intelligence (AI), targeting both AI Enablersthose developing components for and investing in AI infrastructureand AI Adoptersthose integrating AI to enhance their operations. The fund manager employs fundamental research to select securities, considering factors like revenue, resources devoted to AI, and market share estimates. This process assesses a firms involvement with AI and its potential impact on stock performance in the next one to three years. Additionally, ALAI actively seeks companies experiencing Positive Dynamic Change, or those demonstrating high unit volume growth or significant lifecycle shifts. Investments span all market capitalizations, with at least 25% in AI-related industries like technology, retail, and media. The fund may also include foreign securities and hold cash or equivalents during market volatility or when awaiting investment opportunities. ALAI aims to identify firms at the forefront of AI adoption, striving for sustainable long-term growth.

Grade (RS Rating)

Last Trade

$23.14

Average Daily Volume

5,096

Number of Holdings ^*

10

* may have additional holdings in another (foreign) market

FHEQ

Fidelity Hedged Equity ETF

FHEQ Description

FHEQ is actively managed, investing in equity securities with market caps similar to the S&P 500 and Russell 1000. The fund utilizes quantitative analysis and options for downside protection.

Grade (RS Rating)

Last Trade

$26.95

Average Daily Volume

5,108

Number of Holdings ^*

10

* may have additional holdings in another (foreign) market

Performance

Period	ALAI	FHEQ
30 Days	6.98%	1.84%
60 Days	10.42%	4.28%
90 Days	4.78%	4.35%
12 Months

6 Overlapping Holdings

	Symbol	Grade	Weight in ALAI	Weight in FHEQ	Overlap
	AAPL	C	7.32%	7.27%	7.27%
	AMZN	C	10.18%	3.23%	3.23%
	AVGO	C	4.07%	1.68%	1.68%
	META	B	6.36%	2.81%	2.81%
	MSFT	C	13.68%	5.9%	5.9%
	NVDA	C	11.1%	6.42%	6.42%

ALAI Overweight 4 Positions Relative to FHEQ

	Symbol	Grade	Weight
	APP	C	3.74%
	GOOG	D	3.41%
	NFLX	B	2.55%
	SPGI	C	2.4%

ALAI Underweight 4 Positions Relative to FHEQ

	Symbol	Grade	Weight
	BRK.A	C	-2.3%
	GOOGL	D	-1.97%
	JPM	D	-1.72%
	XOM	D	-1.59%

ALAI: Top Represented Industries & Keywords

Industries: Internet Content & Information Semiconductors Capital Markets Consumer Electronics Media - Diversified Software - Application Software - Infrastructure Specialty Retail

Keywords: S&P 500 Nasdaq 100 Computing Hyperscale Smartphones Work From Home Dow Jones Component IBD 50 Mobile Devices Software Consumer Electronics Fabless Semiconductor Companies Laptop Computer Operating System Software Development Sql Streaming Services Subscription Services Advertising Network Advertising Services

FHEQ: Top Represented Industries & Keywords

Industries: Internet Content & Information Semiconductors Banks - Global Consumer Electronics Insurance - Diversified Oil & Gas Integrated Software - Infrastructure Specialty Retail

Keywords: S&P 500 Nasdaq 100 Computing Dow Jones Component Hyperscale Smartphones Work From Home IBD 50 Mobile Devices Operating System Software Fabless Semiconductor Companies Laptop Computer Online Retail Abu Dhabi National Oil Company Advertising Network Advertising Services Alternative Energy Application Programming Interface Artificial Intelligence