ETEC vs. FRNW ETF Comparison

Comparison of iShares Breakthrough Environmental Solutions ETF (ETEC) to Fidelity Clean Energy ETF (FRNW)

ETEC

iShares Breakthrough Environmental Solutions ETF

ETEC Description

ETEC provides exposure to global equities categorized as emerging green technology. Selection begins with the initial index universe that then excludes companies involved in controversial issues against UNGC principles. Stocks are reviewed to meet revenue derived from eight sustainable themes: energy efficiency, green buildings and transportation, pollution prevention and reduction, renewable energy, resource efficiency technologies and services, water, and sustainable agriculture, food, and forestry. The fund excludes companies with total sustainable product revenue less than 25%. The remaining stocks are screened further to only include companies classified as green technologies. Stocks are scored within the Rogers innovation adoption curve to determine their position across the innovators-laggards spectrum, which contributes to an aggregate score. The top 50 companies with the highest aggregate scores are selected. The market cap-weighted index is reconstituted annually in December and rebalanced quarterly.

Grade (RS Rating)

Last Trade

$19.76

Average Daily Volume

519

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FRNW

Fidelity Clean Energy ETF

FRNW Description

The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity Clean Energy Index. Normally investing at least 80% of assets in securities included in the Fidelity Clean Energy Index and in depositary receipts representing securities included in the index. The Fidelity Clean Energy Index is designed to reflect the performance of a global universe of companies across the market capitalization spectrum that distribute, produce or provide technology or equipment to support the production of energy from solar, wind, hydrogen and other renewable sources

Grade (RS Rating)

Last Trade

$14.04

Average Daily Volume

8,071

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	ETEC	FRNW
30 Days	-3.35%	-4.63%
60 Days	-6.11%	-9.73%
90 Days	-3.59%	-7.76%
12 Months	-7.07%	-5.75%

3 Overlapping Holdings

Symbol	Grade	Weight in ETEC	Weight in FRNW	Overlap
ENPH	F	2.31%	2.19%	2.19%
FSLR	F	3.26%	3.95%	3.26%
SEDG	F	0.6%	1.02%	0.6%

ETEC Overweight 8 Positions Relative to FRNW

Symbol	Grade	Weight
BWA	D	6.35%
TSLA	B	5.97%
OLED	F	4.92%
XPEV	C	4.28%
LI	F	3.41%
XYL	D	2.69%
NIO	F	2.46%
LCID	F	1.14%

ETEC Underweight 16 Positions Relative to FRNW

Symbol	Grade	Weight
GEV	B	-8.36%
ITRI	C	-3.28%
ORA	B	-2.79%
BE	B	-2.69%
CWEN	C	-2.08%
PLUG	F	-2.05%
AY	A	-1.89%
JKS	F	-1.8%
ARRY	F	-1.64%
SHLS	F	-1.45%
RUN	F	-1.42%
AMRC	F	-1.37%
CSIQ	F	-1.36%
RNW	D	-1.15%
RENB	F	-0.85%
NOVA	F	-0.53%

ETEC: Top Represented Industries & Keywords

Industries: Auto Manufacturers Semiconductor Equipment & Materials Solar Auto Parts Diversified Industrials