FBUF vs. ESMV ETF Comparison

Comparison of Fidelity Dynamic Buffered Equity ETF (FBUF) to iShares ESG MSCI USA Min Vol Factor ETF (ESMV)

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

ESMV

iShares ESG MSCI USA Min Vol Factor ETF

ESMV Description

iShares ESG MSCI USA Min Vol Factor ETF is an exchange traded fund launched by BlackRock, Inc. The fund is managed by BlackRock Fund Advisors. It invests in public equity markets of the United States. The fund invests in stocks of companies operating across diversified sectors. It invests in less volatile stocks of companies across diversified market capitalization. The fund invests in stocks of companies that are deemed socially conscious in their business dealings and directly promote environmental responsibility. It seeks to track the performance of the MSCI USA Minimum Volatility Extended ESG Reduced Carbon Target Index, by using representative sampling technique. iShares ESG MSCI USA Min Vol Factor ETF is domiciled in the United States

Grade (RS Rating)

Last Trade

$29.49

Average Daily Volume

4,983

Number of Holdings ^*

150

* may have additional holdings in another (foreign) market

Performance

Period	FBUF	ESMV
30 Days	3.10%	2.11%
60 Days	4.70%	2.84%
90 Days	6.08%	4.91%
12 Months		24.44%

51 Overlapping Holdings

Symbol	Grade	Weight in FBUF	Weight in ESMV	Overlap
AAPL	C	7.34%	0.52%	0.52%
ADBE	C	0.94%	0.93%	0.93%
ADP	B	0.26%	1.43%	0.26%
AMGN	D	0.25%	1.2%	0.25%
AON	A	0.12%	0.06%	0.06%
BMY	B	0.74%	0.28%	0.28%
CAH	B	0.31%	0.08%	0.08%
CI	F	0.63%	0.44%	0.44%
CL	D	0.55%	1.21%	0.55%
CLX	B	0.14%	0.34%	0.14%
CMCSA	B	0.84%	0.09%	0.09%
CME	A	0.44%	0.43%	0.43%
CRM	B	1.16%	0.74%	0.74%
CSCO	B	0.8%	1.48%	0.8%
CVX	A	0.02%	0.34%	0.02%
ECL	D	0.63%	0.32%	0.32%
ED	D	0.1%	1.26%	0.1%
GEN	B	0.13%	0.38%	0.13%
GILD	C	0.74%	1.29%	0.74%
HD	A	1.32%	1.39%	1.32%
INCY	C	0.34%	0.26%	0.26%
INTU	C	0.12%	0.18%	0.12%
JNJ	D	0.73%	0.97%	0.73%
KR	B	0.12%	1.09%	0.12%
LDOS	C	0.31%	0.11%	0.11%
LLY	F	0.76%	1.25%	0.76%
MA	C	1.36%	0.97%	0.97%
MMC	B	0.53%	1.4%	0.53%
MRK	F	0.96%	1.01%	0.96%
MSFT	F	5.66%	1.34%	1.34%
MSI	B	0.43%	1.81%	0.43%
NEE	D	0.82%	0.5%	0.5%
NOC	D	0.6%	1.43%	0.6%
NOW	A	0.5%	0.17%	0.17%
NVDA	C	7.37%	1.69%	1.69%
ORCL	B	0.04%	1.19%	0.04%
PEP	F	0.19%	1.01%	0.19%
PG	A	0.8%	1.06%	0.8%
PGR	A	0.67%	1.33%	0.67%
RSG	A	0.23%	0.18%	0.18%
RTX	C	0.28%	0.43%	0.28%
SPGI	C	0.21%	1.07%	0.21%
T	A	0.71%	0.4%	0.4%
TJX	A	0.72%	0.06%	0.06%
TMUS	B	0.28%	1.65%	0.28%
TRV	B	0.26%	1.64%	0.26%
TT	A	0.68%	1.23%	0.68%
UBER	D	0.24%	0.42%	0.24%
UNH	C	0.57%	1.36%	0.57%
V	A	0.65%	1.13%	0.65%
WM	A	0.41%	1.44%	0.41%

FBUF Overweight 104 Positions Relative to ESMV

Symbol	Grade	Weight
AMZN	C	3.84%
META	D	2.89%
BRK.A	B	2.2%
GOOGL	C	2.04%
JPM	A	1.93%
GOOG	C	1.89%
AVGO	D	1.62%
XOM	B	1.56%
NFLX	A	1.28%
TSLA	B	1.27%
BAC	A	1.18%
PM	B	0.94%
ABBV	D	0.91%
QCOM	F	0.85%
WMT	A	0.82%
SCHW	B	0.79%
UNP	C	0.75%
PYPL	B	0.72%
C	A	0.72%
LMT	D	0.71%
AMAT	F	0.67%
CTAS	B	0.65%
DIS	B	0.65%
ABT	B	0.63%
KLAC	D	0.61%
SQ	B	0.6%
BDX	F	0.58%
SEIC	B	0.54%
ZM	B	0.53%
CAT	B	0.53%
DBX	B	0.52%
ZBRA	B	0.52%
CVNA	B	0.52%
DVN	F	0.52%
MU	D	0.5%
TXT	D	0.5%
CSX	B	0.49%
GE	D	0.48%
EOG	A	0.48%
CMG	B	0.47%
IGT	F	0.46%
SPG	B	0.44%
GRMN	B	0.44%
AXP	A	0.43%
EXEL	B	0.43%
PFE	D	0.41%
TMO	F	0.38%
HWM	A	0.38%
ALLE	D	0.38%
PCAR	B	0.37%
NUE	C	0.36%
ANF	C	0.35%
TDC	D	0.35%
ALRM	C	0.34%
PPG	F	0.34%
F	C	0.33%
SKYW	B	0.31%
COST	B	0.3%
MEDP	D	0.28%
TROW	B	0.28%
WFC	A	0.28%
MSCI	C	0.26%
SYK	C	0.24%
LRCX	F	0.24%
CVS	D	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%
MMM	D	0.19%
TPH	D	0.18%
SSNC	B	0.18%
CACI	D	0.17%
PSA	D	0.17%
LNW	D	0.16%
BBWI	D	0.16%
OXY	D	0.15%
IDXX	F	0.15%
VST	B	0.14%
ITW	B	0.14%
GL	B	0.13%
BK	A	0.12%
NSC	B	0.11%
DASH	A	0.11%
LPLA	A	0.11%
UNM	A	0.1%
AME	A	0.09%
TWLO	A	0.09%
NRG	B	0.09%
DOCU	A	0.09%
LYFT	C	0.08%
CINF	A	0.07%
PLTK	B	0.07%
CRUS	D	0.07%
QRVO	F	0.06%
NBIX	C	0.06%
ANET	C	0.06%
VEEV	C	0.04%
TNL	A	0.04%
UTHR	C	0.04%
TOL	B	0.02%
PEGA	A	0.02%

FBUF Underweight 99 Positions Relative to ESMV

Symbol	Grade	Weight
GWW	B	-1.68%
IBM	C	-1.66%
PEG	A	-1.64%
TXN	C	-1.39%
VRTX	F	-1.39%
MCK	B	-1.38%
VZ	C	-1.37%
ACN	C	-1.33%
EA	A	-1.31%
ROP	B	-1.31%
HES	B	-1.3%
FERG	B	-1.3%
OKE	A	-1.24%
GIS	D	-1.22%
CDNS	B	-1.11%
MCD	D	-1.02%
VLTO	D	-1.01%
NEM	D	-0.99%
LOW	D	-0.89%
K	A	-0.86%
KEYS	A	-0.83%
TRGP	B	-0.82%
KO	D	-0.79%
PTC	A	-0.78%
WDAY	B	-0.77%
HUBS	A	-0.77%
COR	B	-0.77%
HPE	B	-0.75%
CRH	A	-0.75%
EQIX	A	-0.74%
IT	C	-0.72%
DGX	A	-0.7%
HON	B	-0.69%
REGN	F	-0.65%
ZTS	D	-0.63%
CMS	C	-0.58%
KMB	D	-0.55%
FICO	B	-0.54%
SRE	A	-0.53%
ELV	F	-0.51%
HOLX	D	-0.51%
CBRE	B	-0.51%
CHRW	C	-0.49%
JNPR	F	-0.45%
MELI	D	-0.44%
AZO	C	-0.41%
DECK	A	-0.41%
CHD	B	-0.41%
ODFL	B	-0.4%
ES	D	-0.4%
ICE	C	-0.39%
YUM	B	-0.39%
STX	D	-0.36%
HRL	D	-0.35%
KHC	F	-0.34%
FI	A	-0.34%
INTC	D	-0.34%
AMCR	D	-0.34%
CPB	D	-0.33%
SNPS	B	-0.33%
NXPI	D	-0.32%
VRSN	F	-0.32%
PSX	C	-0.32%
HUM	C	-0.31%
CNH	C	-0.31%
BR	A	-0.31%
CTSH	B	-0.3%
AKAM	D	-0.3%
LKQ	D	-0.3%
ALNY	D	-0.28%
TSCO	D	-0.27%
AJG	B	-0.25%
XYL	D	-0.25%
JCI	C	-0.24%
FCNCA	A	-0.24%
ADSK	A	-0.23%
AWK	D	-0.22%
OTIS	C	-0.21%
FSLR	F	-0.19%
AIZ	A	-0.19%
GDDY	A	-0.19%
WTW	B	-0.17%
ULTA	F	-0.17%
AZPN	A	-0.17%
KDP	D	-0.16%
UPS	C	-0.15%
NTAP	C	-0.15%
TEAM	A	-0.14%
DPZ	C	-0.13%
JKHY	D	-0.13%
FFIV	B	-0.12%
MKC	D	-0.12%
SOLV	C	-0.11%
MPC	D	-0.1%
LIN	D	-0.1%
FAST	B	-0.08%
KNX	B	-0.07%
HII	D	-0.06%
EXC	C	-0.05%