EMLP vs. FVAL ETF Comparison

Comparison of First Trust North American Energy Infrastructure Fund (EMLP) to Fidelity Value Factor ETF (FVAL)

EMLP

First Trust North American Energy Infrastructure Fund

EMLP Description

The investment seeks total return. The fund invests at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in equity securities of companies deemed by the sub-advisor to be engaged in the energy infrastructure sector. These companies principally include publicly-traded master limited partnerships and limited liability companies taxed as partnerships ("MLPs"), MLP affiliates, Canadian income trusts and their successor companies, pipeline companies, utilities, and other companies. It is non-diversified.

Grade (RS Rating)

Last Trade

$37.37

Average Daily Volume

162,141

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FVAL

Fidelity Value Factor ETF

FVAL Description

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

Grade (RS Rating)

Last Trade

$63.75

Average Daily Volume

81,569

Number of Holdings ^*

124

* may have additional holdings in another (foreign) market

Performance

Period	EMLP	FVAL
30 Days	9.99%	3.33%
60 Days	12.10%	5.59%
90 Days	16.42%	6.82%
12 Months	42.23%	28.35%

6 Overlapping Holdings

Symbol	Grade	Weight in EMLP	Weight in FVAL	Overlap
AEP	D	2.27%	0.26%	0.26%
DUK	C	0.69%	0.34%	0.34%
EXC	C	0.09%	0.26%	0.09%
NEE	D	0.46%	0.46%	0.46%
NFG	A	2.89%	0.2%	0.2%
UGI	A	0.08%	0.18%	0.08%

EMLP Overweight 45 Positions Relative to FVAL

Symbol	Grade	Weight
EPD	A	8.77%
ET	A	7.17%
OKE	A	5.41%
KMI	A	4.87%
DTM	B	4.56%
PAGP	A	4.53%
SRE	A	4.15%
MPLX	A	3.98%
TRGP	B	3.47%
WMB	A	2.46%
PPL	B	2.43%
PEG	A	2.29%
PWR	A	2.24%
ATO	A	1.61%
LNG	B	1.6%
AES	F	1.46%
LNT	A	1.43%
VST	B	1.34%
ETR	B	1.28%
SUN	B	1.24%
DTE	C	1.22%
XEL	A	1.15%
FLR	B	1.14%
CQP	B	1.05%
OGS	A	1.02%
WEC	A	1.01%
CMS	C	0.97%
EVRG	A	0.82%
CNP	B	0.81%
D	C	0.76%
WLKP	A	0.76%
HESM	B	0.62%
NEP	F	0.58%
AROC	B	0.57%
IDA	A	0.52%
CWEN	C	0.52%
WTRG	B	0.51%
SO	D	0.45%
NJR	A	0.44%
AEE	A	0.28%
CEG	D	0.26%
CPK	A	0.24%
USAC	B	0.11%
AWK	D	0.05%
ENLC	A	0.0%

EMLP Underweight 118 Positions Relative to FVAL

Symbol	Grade	Weight
NVDA	C	-7.33%
AAPL	C	-6.68%
MSFT	F	-6.37%
AMZN	C	-3.88%
GOOGL	C	-3.72%
META	D	-2.55%
BRK.A	B	-2.07%
JPM	A	-1.84%
UNH	C	-1.69%
CRM	B	-1.46%
V	A	-1.44%
JNJ	D	-1.31%
HD	A	-1.22%
ACN	C	-1.15%
XOM	B	-1.14%
BAC	A	-1.13%
ABBV	D	-1.11%
IBM	C	-1.09%
WFC	A	-1.08%
PG	A	-1.08%
WMT	A	-1.07%
MRK	F	-1.01%
QCOM	F	-1.0%
BMY	B	-0.98%
ZM	B	-0.98%
GILD	C	-0.97%
BKNG	A	-0.87%
MU	D	-0.85%
UAL	A	-0.84%
MCD	D	-0.84%
AXP	A	-0.83%
CI	F	-0.81%
HPE	B	-0.81%
INTC	D	-0.77%
CAT	B	-0.77%
CTSH	B	-0.76%
C	A	-0.74%
COF	B	-0.72%
CVS	D	-0.71%
TRV	B	-0.68%
DFS	B	-0.68%
HON	B	-0.68%
SYF	B	-0.67%
ELV	F	-0.67%
GM	B	-0.67%
CVX	A	-0.67%
EXPE	B	-0.66%
DAL	C	-0.64%
ADP	B	-0.64%
T	A	-0.62%
CMCSA	B	-0.61%
VZ	C	-0.61%
RPRX	D	-0.61%
UNP	C	-0.61%
DE	A	-0.59%
SWKS	F	-0.56%
JXN	C	-0.56%
LMT	D	-0.56%
PRU	A	-0.56%
LVS	C	-0.55%
UPS	C	-0.55%
MO	A	-0.55%
CNC	D	-0.54%
RNR	C	-0.54%
LIN	D	-0.53%
PCAR	B	-0.53%
KVUE	A	-0.52%
CMI	A	-0.52%
F	C	-0.51%
OZK	B	-0.51%
EBAY	D	-0.51%
EG	C	-0.5%
WYNN	D	-0.5%
MMM	D	-0.5%
G	B	-0.49%
TGT	F	-0.48%
FDX	B	-0.48%
RHI	B	-0.44%
KR	B	-0.43%
OC	A	-0.42%
KMB	D	-0.41%
COP	C	-0.4%
M	D	-0.39%
AGCO	D	-0.38%
ADM	D	-0.35%
ACI	C	-0.34%
PLD	D	-0.32%
BG	F	-0.32%
EOG	A	-0.31%
PCG	A	-0.29%
PARA	C	-0.28%
SPG	B	-0.27%
ATKR	C	-0.26%
NRG	B	-0.26%
PSA	D	-0.25%
FCX	D	-0.24%
MPC	D	-0.24%
O	D	-0.23%
CBRE	B	-0.23%
VLO	C	-0.22%
VICI	C	-0.2%
NUE	C	-0.19%
NEM	D	-0.19%
BXP	D	-0.18%
DVN	F	-0.18%
CF	B	-0.18%
STLD	B	-0.18%
HST	C	-0.17%
JLL	D	-0.17%
WPC	D	-0.16%
ARE	D	-0.16%
GLPI	C	-0.16%
DOW	F	-0.16%
LYB	F	-0.15%
CIVI	D	-0.13%
MOS	F	-0.13%
MUR	D	-0.13%
CLF	F	-0.11%