FBUF vs. GSUS ETF Comparison

Comparison of Fidelity Dynamic Buffered Equity ETF (FBUF) to Goldman Sachs MarketBeta U.S. Equity ETF (GSUS)

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

GSUS

Goldman Sachs MarketBeta U.S. Equity ETF

GSUS Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the Solactive GBS United States Large & Mid Cap Index. The fund invests at least 80% of its assets in securities included in its underlying index, in depositary receipts representing securities included in its underlying index and in underlying stocks in respect of depositary receipts included in its underlying index. The index consists of equity securities of large and mid-capitalization equity issuers covering approximately the largest 85% of the free-float market capitalization in the United States.

Grade (RS Rating)

Last Trade

$82.16

Average Daily Volume

123,683

Number of Holdings ^*

449

* may have additional holdings in another (foreign) market

Performance

Period	FBUF	GSUS
30 Days	3.10%	3.38%
60 Days	4.70%	4.89%
90 Days	6.08%	6.69%
12 Months		32.27%

123 Overlapping Holdings

Symbol	Grade	Weight in FBUF	Weight in GSUS	Overlap
AAPL	C	7.34%	6.79%	6.79%
ABBV	D	0.91%	0.59%	0.59%
ABT	B	0.63%	0.41%	0.41%
ADBE	C	0.94%	0.44%	0.44%
ADP	B	0.26%	0.24%	0.24%
AMAT	F	0.67%	0.28%	0.28%
AME	A	0.09%	0.09%	0.09%
AMGN	D	0.25%	0.3%	0.25%
AMT	D	0.21%	0.19%	0.19%
AMZN	C	3.84%	3.85%	3.84%
ANET	C	0.06%	0.18%	0.06%
AON	A	0.12%	0.15%	0.12%
AVGO	D	1.62%	1.52%	1.52%
AXP	A	0.43%	0.32%	0.32%
BAC	A	1.18%	0.63%	0.63%
BDX	F	0.58%	0.13%	0.13%
BIIB	F	0.21%	0.05%	0.05%
BK	A	0.12%	0.12%	0.12%
BMY	B	0.74%	0.24%	0.24%
BRK.A	B	2.2%	1.24%	1.24%
C	A	0.72%	0.26%	0.26%
CAH	B	0.31%	0.06%	0.06%
CAT	B	0.53%	0.37%	0.37%
CI	F	0.63%	0.18%	0.18%
CINF	A	0.07%	0.05%	0.05%
CL	D	0.55%	0.15%	0.15%
CLX	B	0.14%	0.04%	0.04%
CMCSA	B	0.84%	0.33%	0.33%
CME	A	0.44%	0.17%	0.17%
CMG	B	0.47%	0.16%	0.16%
COST	B	0.3%	0.83%	0.3%
CRM	B	1.16%	0.6%	0.6%
CSCO	B	0.8%	0.46%	0.46%
CSX	B	0.49%	0.14%	0.14%
CTAS	B	0.65%	0.15%	0.15%
CVNA	B	0.52%	0.06%	0.06%
CVS	D	0.23%	0.14%	0.14%
CVX	A	0.02%	0.55%	0.02%
DASH	A	0.11%	0.11%	0.11%
DIS	B	0.65%	0.41%	0.41%
DVN	F	0.52%	0.05%	0.05%
ECL	D	0.63%	0.12%	0.12%
ED	D	0.1%	0.07%	0.07%
EOG	A	0.48%	0.15%	0.15%
F	C	0.33%	0.09%	0.09%
FTNT	C	0.2%	0.11%	0.11%
GE	D	0.48%	0.39%	0.39%
GEN	B	0.13%	0.03%	0.03%
GILD	C	0.74%	0.22%	0.22%
GOOG	C	1.89%	1.88%	1.88%
GOOGL	C	2.04%	2.09%	2.04%
GRMN	B	0.44%	0.06%	0.06%
HD	A	1.32%	0.81%	0.81%
HWM	A	0.38%	0.09%	0.09%
IDXX	F	0.15%	0.07%	0.07%
INTU	C	0.12%	0.35%	0.12%
ITW	B	0.14%	0.16%	0.14%
JNJ	D	0.73%	0.74%	0.73%
JPM	A	1.93%	1.38%	1.38%
KLAC	D	0.61%	0.17%	0.17%
KR	B	0.12%	0.08%	0.08%
LDOS	C	0.31%	0.04%	0.04%
LHX	C	0.21%	0.09%	0.09%
LLY	F	0.76%	1.25%	0.76%
LMT	D	0.71%	0.25%	0.25%
LRCX	F	0.24%	0.18%	0.18%
MA	C	1.36%	0.86%	0.86%
META	D	2.89%	2.45%	2.45%
MMC	B	0.53%	0.22%	0.22%
MMM	D	0.19%	0.14%	0.14%
MRK	F	0.96%	0.49%	0.49%
MSCI	C	0.26%	0.09%	0.09%
MSFT	F	5.66%	6.15%	5.66%
MSI	B	0.43%	0.16%	0.16%
MU	D	0.5%	0.22%	0.22%
NEE	D	0.82%	0.32%	0.32%
NFLX	A	1.28%	0.73%	0.73%
NOC	D	0.6%	0.14%	0.14%
NOW	A	0.5%	0.42%	0.42%
NSC	B	0.11%	0.12%	0.11%
NUE	C	0.36%	0.07%	0.07%
NVDA	C	7.37%	6.96%	6.96%
ORCL	B	0.04%	0.61%	0.04%
OXY	D	0.15%	0.07%	0.07%
PCAR	B	0.37%	0.11%	0.11%
PEP	F	0.19%	0.43%	0.19%
PFE	D	0.41%	0.29%	0.29%
PG	A	0.8%	0.81%	0.8%
PGR	A	0.67%	0.3%	0.3%
PM	B	0.94%	0.41%	0.41%
PPG	F	0.34%	0.06%	0.06%
PSA	D	0.17%	0.11%	0.11%
PYPL	B	0.72%	0.17%	0.17%
QCOM	F	0.85%	0.37%	0.37%
RSG	A	0.23%	0.09%	0.09%
RTX	C	0.28%	0.32%	0.28%
SCHW	B	0.79%	0.24%	0.24%
SPG	B	0.44%	0.12%	0.12%
SPGI	C	0.21%	0.32%	0.21%
SQ	B	0.6%	0.1%	0.1%
SSNC	B	0.18%	0.03%	0.03%
SYK	C	0.24%	0.25%	0.24%
T	A	0.71%	0.33%	0.33%
TJX	A	0.72%	0.27%	0.27%
TMO	F	0.38%	0.39%	0.38%
TMUS	B	0.28%	0.23%	0.23%
TROW	B	0.28%	0.05%	0.05%
TRV	B	0.26%	0.12%	0.12%
TSLA	B	1.27%	1.93%	1.27%
TT	A	0.68%	0.19%	0.19%
TXT	D	0.5%	0.03%	0.03%
UBER	D	0.24%	0.28%	0.24%
UNH	C	0.57%	1.07%	0.57%
UNP	C	0.75%	0.29%	0.29%
V	A	0.65%	1.05%	0.65%
VEEV	C	0.04%	0.06%	0.04%
VST	B	0.14%	0.11%	0.11%
WFC	A	0.28%	0.5%	0.28%
WM	A	0.41%	0.18%	0.18%
WMT	A	0.82%	0.76%	0.76%
XOM	B	1.56%	1.06%	1.06%
ZBRA	B	0.52%	0.04%	0.04%
ZM	B	0.53%	0.04%	0.04%

FBUF Overweight 32 Positions Relative to GSUS

Symbol	Grade	Weight
SEIC	B	0.54%
DBX	B	0.52%
IGT	F	0.46%
EXEL	B	0.43%
ALLE	D	0.38%
ANF	C	0.35%
TDC	D	0.35%
ALRM	C	0.34%
INCY	C	0.34%
SKYW	B	0.31%
MEDP	D	0.28%
MGM	D	0.23%
GAP	C	0.21%
TPH	D	0.18%
CACI	D	0.17%
LNW	D	0.16%
BBWI	D	0.16%
GL	B	0.13%
LPLA	A	0.11%
UNM	A	0.1%
TWLO	A	0.09%
NRG	B	0.09%
DOCU	A	0.09%
LYFT	C	0.08%
PLTK	B	0.07%
CRUS	D	0.07%
QRVO	F	0.06%
NBIX	C	0.06%
TNL	A	0.04%
UTHR	C	0.04%
TOL	B	0.02%
PEGA	A	0.02%

FBUF Underweight 326 Positions Relative to GSUS

Symbol	Grade	Weight
KO	D	-0.49%
ACN	C	-0.45%
AMD	F	-0.45%
LIN	D	-0.43%
MCD	D	-0.42%
IBM	C	-0.39%
ISRG	A	-0.38%
TXN	C	-0.37%
GS	A	-0.37%
VZ	C	-0.36%
MS	A	-0.33%
BKNG	A	-0.33%
LOW	D	-0.3%
HON	B	-0.3%
DHR	F	-0.3%
BLK	C	-0.3%
ETN	A	-0.29%
BX	A	-0.27%
BSX	B	-0.27%
COP	C	-0.26%
FI	A	-0.25%
PLTR	B	-0.25%
PANW	C	-0.25%
CB	C	-0.23%
VRTX	F	-0.23%
SBUX	A	-0.22%
MDT	D	-0.22%
KKR	A	-0.21%
INTC	D	-0.21%
ADI	D	-0.21%
PLD	D	-0.21%
DE	A	-0.2%
GEV	B	-0.19%
MO	A	-0.19%
SO	D	-0.19%
UPS	C	-0.19%
NKE	D	-0.18%
DUK	C	-0.18%
PH	A	-0.18%
ICE	C	-0.18%
MELI	D	-0.18%
ELV	F	-0.18%
SNPS	B	-0.17%
WELL	A	-0.17%
APH	A	-0.17%
BA	F	-0.17%
MDLZ	F	-0.17%
EQIX	A	-0.17%
SHW	A	-0.17%
REGN	F	-0.16%
ZTS	D	-0.16%
MCK	B	-0.16%
CRWD	B	-0.16%
PNC	B	-0.16%
CDNS	B	-0.16%
CEG	D	-0.15%
EMR	A	-0.15%
MCO	B	-0.15%
USB	A	-0.15%
MRVL	B	-0.15%
APO	B	-0.14%
TDG	D	-0.14%
COF	B	-0.14%
ORLY	B	-0.14%
WMB	A	-0.14%
APD	A	-0.14%
APP	B	-0.14%
TGT	F	-0.14%
HCA	F	-0.13%
CARR	D	-0.13%
FCX	D	-0.13%
AJG	B	-0.13%
GD	F	-0.13%
COIN	C	-0.13%
OKE	A	-0.13%
ADSK	A	-0.13%
MAR	B	-0.13%
FDX	B	-0.13%
SPOT	B	-0.13%
ROP	B	-0.12%
SRE	A	-0.12%
HLT	A	-0.12%
DLR	B	-0.12%
SLB	C	-0.12%
GM	B	-0.12%
TFC	A	-0.12%
TTD	B	-0.11%
MPC	D	-0.11%
URI	B	-0.11%
WDAY	B	-0.11%
PSX	C	-0.11%
FICO	B	-0.11%
KMI	A	-0.11%
AMP	A	-0.11%
AFL	B	-0.11%
JCI	C	-0.11%
ABNB	C	-0.11%
PWR	A	-0.1%
CPRT	A	-0.1%
VRT	B	-0.1%
D	C	-0.1%
MET	A	-0.1%
AIG	B	-0.1%
CMI	A	-0.1%
NEM	D	-0.1%
LNG	B	-0.1%
O	D	-0.1%
AEP	D	-0.1%
ALL	A	-0.1%
RCL	A	-0.1%
GWW	B	-0.1%
AZO	C	-0.1%
DFS	B	-0.09%
BKR	B	-0.09%
PRU	A	-0.09%
PCG	A	-0.09%
PEG	A	-0.09%
CCI	D	-0.09%
PAYX	C	-0.09%
VLO	C	-0.09%
KVUE	A	-0.09%
KMB	D	-0.09%
ROST	C	-0.09%
FLUT	A	-0.09%
FAST	B	-0.09%
DHI	D	-0.09%
FIS	C	-0.09%
MNST	C	-0.08%
STZ	D	-0.08%
XEL	A	-0.08%
CTSH	B	-0.08%
EXC	C	-0.08%
IT	C	-0.08%
TEAM	A	-0.08%
LEN	D	-0.08%
OTIS	C	-0.08%
EA	A	-0.08%
DDOG	A	-0.08%
ODFL	B	-0.08%
HES	B	-0.08%
VRSK	A	-0.08%
CBRE	B	-0.08%
DELL	C	-0.08%
CTVA	C	-0.08%
SNOW	C	-0.08%
IR	B	-0.08%
DAL	C	-0.08%
COR	B	-0.08%
EW	C	-0.08%
LULU	C	-0.07%
AVB	B	-0.07%
EIX	B	-0.07%
NDAQ	A	-0.07%
HUBS	A	-0.07%
VICI	C	-0.07%
KDP	D	-0.07%
HUM	C	-0.07%
IRM	D	-0.07%
ACGL	D	-0.07%
IQV	D	-0.07%
EXR	D	-0.07%
HIG	B	-0.07%
RMD	C	-0.07%
GIS	D	-0.07%
MCHP	D	-0.07%
WAB	B	-0.07%
GEHC	F	-0.07%
MTB	A	-0.07%
MLM	B	-0.07%
A	D	-0.07%
HPQ	B	-0.07%
GLW	B	-0.07%
SYY	B	-0.07%
VMC	B	-0.07%
YUM	B	-0.07%
CHTR	C	-0.07%
HAL	C	-0.06%
DOV	A	-0.06%
MPWR	F	-0.06%
HPE	B	-0.06%
STT	A	-0.06%
NET	B	-0.06%
ON	D	-0.06%
XYL	D	-0.06%
ALNY	D	-0.06%
CSGP	D	-0.06%
ANSS	B	-0.06%
GPN	B	-0.06%
DXCM	D	-0.06%
EBAY	D	-0.06%
EFX	F	-0.06%
TSCO	D	-0.06%
RJF	A	-0.06%
DD	D	-0.06%
UAL	A	-0.06%
CNC	D	-0.06%
DOW	F	-0.06%
ARES	A	-0.06%
WEC	A	-0.06%
TTWO	A	-0.06%
ETR	B	-0.06%
FITB	A	-0.06%
WTW	B	-0.06%
ROK	B	-0.06%
FANG	D	-0.06%
WY	D	-0.05%
WST	C	-0.05%
EXPE	B	-0.05%
FE	C	-0.05%
IFF	D	-0.05%
ZBH	C	-0.05%
CDW	F	-0.05%
SBAC	D	-0.05%
AEE	A	-0.05%
RF	A	-0.05%
KHC	F	-0.05%
MTD	D	-0.05%
DTE	C	-0.05%
HSY	F	-0.05%
CCL	B	-0.05%
NVR	D	-0.05%
NTAP	C	-0.05%
PPL	B	-0.05%
HBAN	A	-0.05%
EQR	B	-0.05%
SYF	B	-0.05%
CPAY	A	-0.05%
VTR	C	-0.05%
RBLX	C	-0.05%
ADM	D	-0.05%
FTV	C	-0.05%
CPNG	D	-0.05%
BR	A	-0.05%
KEYS	A	-0.05%
AWK	D	-0.05%
PHM	D	-0.05%
CHD	B	-0.05%
PINS	D	-0.04%
TSN	B	-0.04%
KEY	B	-0.04%
DGX	A	-0.04%
LVS	C	-0.04%
WRB	A	-0.04%
HOLX	D	-0.04%
SNA	A	-0.04%
MAA	B	-0.04%
BALL	D	-0.04%
TRU	D	-0.04%
IBKR	A	-0.04%
STX	D	-0.04%
MKC	D	-0.04%
ZS	C	-0.04%
ESS	B	-0.04%
OMC	C	-0.04%
LUV	C	-0.04%
DRI	B	-0.04%
INVH	D	-0.04%
CTRA	B	-0.04%
LYV	A	-0.04%
PFG	D	-0.04%
CNP	B	-0.04%
IP	B	-0.04%
DKNG	B	-0.04%
LH	C	-0.04%
MDB	C	-0.04%
WAT	B	-0.04%
CMS	C	-0.04%
K	A	-0.04%
STE	F	-0.04%
LYB	F	-0.04%
PKG	A	-0.04%
WBD	C	-0.04%
ILMN	D	-0.04%
CFG	B	-0.04%
ES	D	-0.04%
CBOE	B	-0.04%
MKL	A	-0.04%
ATO	A	-0.04%
NTRS	A	-0.04%
WDC	D	-0.04%
CAG	D	-0.03%
ARM	D	-0.03%
AVTR	F	-0.03%
AKAM	D	-0.03%
SWKS	F	-0.03%
DLTR	F	-0.03%
EL	F	-0.03%
SMCI	F	-0.03%
APTV	D	-0.03%
AMCR	D	-0.03%
ROL	B	-0.03%
JBHT	C	-0.03%
DOC	D	-0.03%
L	A	-0.03%
VRSN	F	-0.03%
DPZ	C	-0.03%
LNT	A	-0.03%
FNF	B	-0.03%
TER	D	-0.03%
ALGN	D	-0.03%
ARE	D	-0.03%
BAX	D	-0.03%
MAS	D	-0.03%
ULTA	F	-0.03%
GPC	D	-0.03%
DG	F	-0.03%
EXPD	D	-0.03%
BBY	D	-0.03%
TRMB	B	-0.03%
CE	F	-0.02%
ENPH	F	-0.02%
CPB	D	-0.02%
HRL	D	-0.02%
SCCO	F	-0.02%
DOX	D	-0.02%
RPRX	D	-0.02%
FOXA	B	-0.02%
SNAP	C	-0.02%
EG	C	-0.02%
MRNA	F	-0.02%
AGR	B	-0.01%
GFS	C	-0.01%
WMG	C	-0.01%
FOX	A	-0.01%
LEN	D	-0.0%
RKT	F	-0.0%