CLSE vs. FDMO ETF Comparison

Comparison of Convergence Long/Short Equity ETF (CLSE) to Fidelity Momentum Factor ETF (FDMO)

CLSE

Convergence Long/Short Equity ETF

CLSE Description

The investment seeks long-term capital growth. The fund seeks to invest, under normal market conditions, at least 80% of its net assets (plus any borrowings for investment purposes) in long and short positions in equity securities of domestic companies. The adviser intends to maintain a net long exposure (the market value of long positions minus the market value of short positions) of approximately 50% to 100%. Under normal market conditions, the fund’s long positions may range from approximately 90% to 150% and its short positions may range from approximately 20% to 70%.

Grade (RS Rating)

Last Trade

$23.68

Average Daily Volume

66,024

Number of Holdings ^*

337

* may have additional holdings in another (foreign) market

FDMO

Fidelity Momentum Factor ETF

FDMO Description

The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity U.S. Momentum Factor Index. Normally investing at least 80% of assets in securities included in the Fidelity U.S. Momentum Factor Index, which is designed to reflect the performance of stocks of large and mid-capitalization U.S. companies that exhibit positive momentum signals.

Grade (RS Rating)

Last Trade

$71.42

Average Daily Volume

35,646

Number of Holdings ^*

122

* may have additional holdings in another (foreign) market

Performance

Period	CLSE	FDMO
30 Days	4.69%	6.00%
60 Days	6.81%	8.27%
90 Days	9.38%	10.44%
12 Months	39.93%	42.98%

48 Overlapping Holdings

Symbol	Grade	Weight in CLSE	Weight in FDMO	Overlap
AAPL	C	0.83%	6.8%	0.83%
ABBV	D	0.72%	1.08%	0.72%
AMZN	C	2.53%	3.76%	2.53%
ANET	C	1.83%	0.82%	0.82%
APP	B	2.25%	1.27%	1.27%
AVGO	D	2.28%	2.03%	2.03%
BAC	A	0.81%	1.21%	0.81%
BKNG	A	0.44%	0.66%	0.44%
CVLT	B	1.4%	0.74%	0.74%
CVNA	B	1.85%	0.38%	0.38%
DLR	B	-0.13%	0.24%	-0.13%
EME	C	0.75%	0.47%	0.47%
EQR	B	0.35%	0.19%	0.19%
EXR	D	-0.13%	0.2%	-0.13%
FTI	A	0.74%	0.19%	0.19%
GDDY	A	1.42%	0.78%	0.78%
GE	D	-0.46%	0.74%	-0.46%
GM	B	0.87%	0.5%	0.5%
GOOGL	C	3.47%	3.54%	3.47%
HD	A	1.13%	1.08%	1.08%
JLL	D	0.2%	0.16%	0.16%
JPM	A	0.64%	1.88%	0.64%
JXN	C	0.39%	0.59%	0.39%
LDOS	C	0.55%	0.38%	0.38%
LPX	B	0.43%	0.15%	0.15%
META	D	3.3%	2.39%	2.39%
MLI	C	0.84%	0.44%	0.44%
MO	A	0.79%	0.37%	0.37%
MPWR	F	0.3%	0.56%	0.3%
NEM	D	0.22%	0.2%	0.2%
NFLX	A	0.79%	0.88%	0.79%
NRG	B	0.71%	0.24%	0.24%
NTRA	B	0.17%	0.87%	0.17%
NVDA	C	4.61%	6.97%	4.61%
PG	A	0.45%	0.92%	0.45%
PGR	A	0.46%	0.87%	0.46%
PLTR	B	1.02%	1.3%	1.02%
PSA	D	-0.23%	0.24%	-0.23%
SPG	B	0.37%	0.25%	0.25%
SW	A	-0.17%	0.17%	-0.17%
SYF	B	1.11%	0.72%	0.72%
T	A	0.29%	0.52%	0.29%
THC	D	0.78%	0.72%	0.72%
TMUS	B	0.7%	0.45%	0.45%
TSLA	B	1.22%	2.03%	1.22%
VRT	B	0.68%	0.51%	0.51%
VST	B	0.55%	0.31%	0.31%
WMT	A	1.82%	0.86%	0.86%

CLSE Overweight 289 Positions Relative to FDMO

Symbol	Grade	Weight
MU	D	2.13%
HPE	B	1.92%
QCOM	F	1.73%
IDCC	A	1.51%
DOCU	A	1.37%
PYPL	B	1.33%
ORCL	B	1.33%
ACIW	B	1.3%
JHG	A	1.21%
NTNX	A	1.16%
BMY	B	1.11%
NTRS	A	1.08%
GILD	C	1.07%
SNEX	B	1.06%
NTAP	C	1.0%
LNG	B	0.97%
SEIC	B	0.95%
HALO	F	0.9%
AMRX	C	0.9%
BFH	B	0.88%
COR	B	0.86%
CAH	B	0.86%
PPC	C	0.85%
GVA	A	0.84%
CARG	C	0.83%
JNJ	D	0.83%
PRIM	A	0.8%
FITB	A	0.78%
DVA	B	0.78%
IESC	B	0.77%
CPNG	D	0.77%
WFC	A	0.75%
CNX	A	0.74%
UTHR	C	0.73%
PNC	B	0.72%
RF	A	0.72%
STRL	B	0.71%
ZION	B	0.71%
CMA	A	0.71%
UHS	D	0.7%
CEIX	A	0.7%
GEN	B	0.68%
APH	A	0.67%
UMBF	B	0.66%
ALSN	B	0.66%
MTZ	B	0.66%
AVT	C	0.66%
MWA	B	0.65%
BLK	C	0.65%
CHRW	C	0.61%
EXPE	B	0.61%
TSN	B	0.6%
FFIV	B	0.6%
FTDR	A	0.58%
AMG	B	0.58%
RGA	A	0.55%
GLW	B	0.52%
MET	A	0.52%
SLVM	B	0.5%
GOOG	C	0.49%
UI	A	0.49%
EXP	A	0.48%
CACI	D	0.48%
PNW	B	0.48%
AVA	A	0.47%
UNP	C	0.47%
DUOL	A	0.45%
ALL	A	0.45%
CTRE	D	0.42%
SCCO	F	0.41%
RMD	C	0.4%
SR	A	0.38%
R	B	0.38%
CNA	B	0.37%
CF	B	0.37%
GRMN	B	0.37%
OUT	A	0.36%
CCL	B	0.35%
CDP	C	0.34%
RGLD	C	0.32%
CNC	D	0.31%
PTON	B	0.31%
LAMR	D	0.31%
J	F	0.31%
CVS	D	0.29%
VLO	C	0.29%
MDT	D	0.29%
IIPR	D	0.28%
APA	D	0.25%
NVR	D	0.24%
VRTX	F	0.23%
MATX	C	0.22%
TOL	B	0.22%
EEFT	B	0.22%
FLR	B	0.21%
MUSA	A	0.2%
ABM	B	0.19%
BAH	F	0.18%
KR	B	0.17%
BOX	B	0.17%
JAZZ	B	0.16%
FOXA	B	0.14%
EXPD	D	0.14%
FN	D	0.13%
PRU	A	0.13%
VCTR	B	0.12%
VCYT	B	0.12%
CINF	A	0.12%
CDE	D	0.11%
ILMN	D	0.1%
AEIS	B	0.07%
INCY	C	0.07%
HQY	B	0.07%
QQQ	B	0.0%
LNTH	D	0.0%
LRCX	F	0.0%
PENN	C	-0.05%
KNX	B	-0.06%
HGV	B	-0.06%
HUN	F	-0.07%
EXAS	D	-0.07%
RYN	D	-0.07%
COOP	B	-0.07%
CCS	D	-0.07%
BC	C	-0.08%
JOE	F	-0.08%
AES	F	-0.08%
FLYW	C	-0.08%
GNTX	C	-0.09%
JBLU	F	-0.09%
NSC	B	-0.1%
MCW	B	-0.1%
ABG	B	-0.1%
ATO	A	-0.1%
ACVA	B	-0.11%
ENPH	F	-0.11%
CGON	F	-0.11%
EL	F	-0.12%
RBA	A	-0.12%
FL	F	-0.12%
PCH	D	-0.12%
STLD	B	-0.13%
AVAV	D	-0.13%
ALIT	C	-0.13%
VMC	B	-0.13%
MLM	B	-0.13%
BPOP	B	-0.14%
PYCR	C	-0.14%
DAY	B	-0.14%
REXR	F	-0.14%
ARWR	F	-0.14%
MKL	A	-0.14%
AA	B	-0.14%
EQIX	A	-0.14%
CZR	F	-0.15%
COLD	D	-0.15%
APD	A	-0.15%
GTLS	B	-0.15%
CRL	C	-0.15%
RNR	C	-0.15%
DRVN	B	-0.15%
NARI	C	-0.16%
FIVN	C	-0.16%
BHF	B	-0.16%
XPO	B	-0.16%
OSK	B	-0.16%
LGIH	D	-0.16%
DAR	C	-0.16%
ALB	C	-0.16%
UHAL	D	-0.16%
AGO	B	-0.16%
EW	C	-0.16%
SITE	D	-0.16%
TEX	D	-0.17%
TREX	C	-0.17%
MDGL	B	-0.17%
LKQ	D	-0.17%
MASI	A	-0.17%
AJG	B	-0.17%
KRG	B	-0.17%
ENOV	C	-0.18%
CHDN	B	-0.18%
UEC	B	-0.18%
EBC	B	-0.18%
AGCO	D	-0.18%
COTY	F	-0.18%
AL	B	-0.18%
CNH	C	-0.18%
BRKR	D	-0.18%
C	A	-0.19%
WAL	B	-0.19%
AIR	B	-0.19%
KNSL	B	-0.2%
SRE	A	-0.2%
GATX	A	-0.2%
BIRK	D	-0.2%
BE	B	-0.21%
AESI	B	-0.21%
NOG	A	-0.21%
WTM	A	-0.21%
PRCT	B	-0.22%
BANC	A	-0.22%
MTN	C	-0.22%
SAIA	B	-0.22%
SUM	B	-0.22%
EQT	B	-0.23%
XYL	D	-0.23%
WTRG	B	-0.24%
ELF	C	-0.24%
IONS	F	-0.24%
GPOR	B	-0.24%
CELH	F	-0.24%
HSY	F	-0.24%
DELL	C	-0.25%
LW	C	-0.25%
KEY	B	-0.25%
BILL	A	-0.26%
NEOG	F	-0.26%
AUR	C	-0.26%
AWK	D	-0.26%
VAL	D	-0.27%
FOUR	B	-0.27%
STNE	F	-0.27%
TEAM	A	-0.27%
MSCI	C	-0.27%
PTEN	C	-0.27%
MNST	C	-0.28%
SOFI	A	-0.28%
ESTC	C	-0.29%
MDB	C	-0.29%
XP	F	-0.29%
MKTX	D	-0.29%
CYTK	F	-0.3%
LYV	A	-0.3%
NDAQ	A	-0.3%
APLS	D	-0.3%
APTV	D	-0.32%
GTLB	B	-0.32%
VVV	F	-0.33%
CCOI	B	-0.33%
LPLA	A	-0.34%
ZBRA	B	-0.34%
ABNB	C	-0.34%
INSP	D	-0.34%
FCNCA	A	-0.35%
APO	B	-0.35%
AFRM	B	-0.35%
CACC	D	-0.36%
COHR	B	-0.36%
BBIO	F	-0.36%
ZI	D	-0.36%
BEN	C	-0.36%
ON	D	-0.39%
DG	F	-0.4%
SATS	D	-0.4%
BA	F	-0.4%
RBLX	C	-0.41%
DLTR	F	-0.41%
PINS	D	-0.41%
U	C	-0.41%
RIVN	F	-0.42%
TTWO	A	-0.43%
WBD	C	-0.43%
SNPS	B	-0.44%
ALGM	D	-0.45%
DV	C	-0.45%
CGNX	C	-0.45%
CDNS	B	-0.46%
MRNA	F	-0.47%
SMCI	F	-0.47%
RH	B	-0.47%
CFLT	B	-0.47%
CHTR	C	-0.48%
CSCO	B	-0.52%
FND	C	-0.53%
BRZE	C	-0.56%
FIVE	F	-0.56%
NWS	B	-0.57%
WST	C	-0.59%
LITE	B	-0.6%
POOL	C	-0.61%
MCHP	D	-0.63%
DXCM	D	-0.63%
WDC	D	-0.65%
LSCC	D	-0.7%
ROP	B	-0.7%
TXN	C	-0.81%
INTC	D	-0.93%
FSLR	F	-1.26%

CLSE Underweight 74 Positions Relative to FDMO

Symbol	Grade	Weight
MSFT	F	-6.21%
BRK.A	B	-2.14%
LLY	F	-1.68%
XOM	B	-1.12%
COIN	C	-1.09%
ISRG	A	-1.06%
GS	A	-0.99%
BSX	B	-0.95%
DHR	F	-0.92%
COST	B	-0.92%
AXP	A	-0.9%
MSI	B	-0.88%
FICO	B	-0.86%
HOOD	B	-0.83%
KKR	A	-0.8%
HCA	F	-0.78%
QTWO	A	-0.78%
GKOS	B	-0.74%
CAT	B	-0.73%
RVMD	C	-0.73%
BK	A	-0.7%
RNA	D	-0.7%
UBER	D	-0.67%
CVX	A	-0.67%
EVR	B	-0.67%
HIG	B	-0.67%
RTX	C	-0.66%
FIS	C	-0.65%
TJX	A	-0.61%
KO	D	-0.61%
TT	A	-0.59%
PM	B	-0.55%
CTAS	B	-0.54%
HWM	A	-0.52%
CARR	D	-0.51%
LIN	D	-0.51%
URI	B	-0.5%
TDG	D	-0.5%
RCL	A	-0.48%
FIX	A	-0.47%
NEE	D	-0.47%
ZETA	D	-0.43%
EBAY	D	-0.42%
DY	D	-0.42%
TRU	D	-0.4%
SN	D	-0.39%
DUK	C	-0.35%
CL	D	-0.33%
TTD	B	-0.32%
LUMN	C	-0.32%
WMB	A	-0.3%
OKE	A	-0.3%
SHW	A	-0.29%
CEG	D	-0.29%
KMI	A	-0.28%
PEG	A	-0.28%
KMB	D	-0.28%
WELL	A	-0.28%
AEP	D	-0.28%
TRGP	B	-0.27%
FRPT	B	-0.24%
TPL	A	-0.24%
SFM	A	-0.24%
ECL	D	-0.23%
CBRE	B	-0.21%
DTM	B	-0.2%
IRM	D	-0.19%
ESS	B	-0.18%
CRS	A	-0.16%
PKG	A	-0.16%
IFF	D	-0.15%
SLG	B	-0.15%
VNO	B	-0.15%
ATI	D	-0.14%