FBUF vs. HAPI ETF Comparison

Comparison of Fidelity Dynamic Buffered Equity ETF (FBUF) to Harbor Corporate Culture ETF (HAPI)

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

HAPI

Harbor Corporate Culture ETF

HAPI Description

The fund invests at least 80% of its total assets in securities that are included in the index. The index consists of a modified market capitalization-weighted portfolio of equity securities of approximately 150 U.S. companies identified by Irrational Capital LLC ("Irrational Capital") as those the advisor believes to possess strong corporate culture based on its proprietary scoring methodology.

Grade (RS Rating)

Last Trade

$36.20

Average Daily Volume

5,644

Number of Holdings ^*

151

* may have additional holdings in another (foreign) market

Performance

Period	FBUF	HAPI
30 Days	3.10%	2.60%
60 Days	4.70%	4.98%
90 Days	6.08%	6.65%
12 Months		35.11%

47 Overlapping Holdings

Symbol	Grade	Weight in FBUF	Weight in HAPI	Overlap
AAPL	C	7.34%	5.25%	5.25%
ADBE	C	0.94%	0.74%	0.74%
ADP	B	0.26%	0.39%	0.26%
AMAT	F	0.67%	0.76%	0.67%
AMGN	D	0.25%	0.89%	0.25%
AMZN	C	3.84%	5.0%	3.84%
ANET	C	0.06%	0.27%	0.06%
AXP	A	0.43%	0.91%	0.43%
BAC	A	1.18%	1.88%	1.18%
BDX	F	0.58%	0.36%	0.36%
CAT	B	0.53%	1.13%	0.53%
CINF	A	0.07%	0.13%	0.07%
CL	D	0.55%	0.3%	0.3%
CME	A	0.44%	0.44%	0.44%
CRM	B	1.16%	0.94%	0.94%
CSCO	B	0.8%	0.75%	0.75%
CVX	A	0.02%	2.07%	0.02%
ED	D	0.1%	0.23%	0.1%
F	C	0.33%	0.16%	0.16%
FTNT	C	0.2%	0.18%	0.18%
GE	D	0.48%	1.05%	0.48%
GILD	C	0.74%	0.65%	0.65%
GOOG	C	1.89%	2.81%	1.89%
GOOGL	C	2.04%	3.2%	2.04%
INTU	C	0.12%	0.57%	0.12%
JNJ	D	0.73%	2.09%	0.73%
JPM	A	1.93%	3.99%	1.93%
KLAC	D	0.61%	0.25%	0.25%
LHX	C	0.21%	0.28%	0.21%
LLY	F	0.76%	2.89%	0.76%
LMT	D	0.71%	0.83%	0.71%
MA	C	1.36%	2.54%	1.36%
META	D	2.89%	3.22%	2.89%
MSCI	C	0.26%	0.15%	0.15%
MSFT	F	5.66%	4.3%	4.3%
NFLX	A	1.28%	1.14%	1.14%
NOC	D	0.6%	0.45%	0.45%
NOW	A	0.5%	0.63%	0.5%
NVDA	C	7.37%	8.04%	7.37%
OXY	D	0.15%	0.27%	0.15%
PEP	F	0.19%	0.84%	0.19%
PFE	D	0.41%	0.77%	0.41%
PG	A	0.8%	1.56%	0.8%
QCOM	F	0.85%	0.56%	0.56%
SPG	B	0.44%	0.31%	0.31%
TRV	B	0.26%	0.33%	0.26%
ZBRA	B	0.52%	0.06%	0.06%

FBUF Overweight 108 Positions Relative to HAPI

Symbol	Grade	Weight
BRK.A	B	2.2%
AVGO	D	1.62%
XOM	B	1.56%
HD	A	1.32%
TSLA	B	1.27%
MRK	F	0.96%
PM	B	0.94%
ABBV	D	0.91%
CMCSA	B	0.84%
WMT	A	0.82%
NEE	D	0.82%
SCHW	B	0.79%
UNP	C	0.75%
BMY	B	0.74%
PYPL	B	0.72%
TJX	A	0.72%
C	A	0.72%
T	A	0.71%
TT	A	0.68%
PGR	A	0.67%
V	A	0.65%
CTAS	B	0.65%
DIS	B	0.65%
ECL	D	0.63%
CI	F	0.63%
ABT	B	0.63%
SQ	B	0.6%
UNH	C	0.57%
SEIC	B	0.54%
MMC	B	0.53%
ZM	B	0.53%
DBX	B	0.52%
CVNA	B	0.52%
DVN	F	0.52%
MU	D	0.5%
TXT	D	0.5%
CSX	B	0.49%
EOG	A	0.48%
CMG	B	0.47%
IGT	F	0.46%
GRMN	B	0.44%
MSI	B	0.43%
EXEL	B	0.43%
WM	A	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%
INCY	C	0.34%
LDOS	C	0.31%
SKYW	B	0.31%
CAH	B	0.31%
COST	B	0.3%
RTX	C	0.28%
TMUS	B	0.28%
MEDP	D	0.28%
TROW	B	0.28%
WFC	A	0.28%
UBER	D	0.24%
SYK	C	0.24%
LRCX	F	0.24%
CVS	D	0.23%
RSG	A	0.23%
MGM	D	0.23%
AMT	D	0.21%
SPGI	C	0.21%
GAP	C	0.21%
BIIB	F	0.21%
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%
IDXX	F	0.15%
VST	B	0.14%
CLX	B	0.14%
ITW	B	0.14%
GL	B	0.13%
GEN	B	0.13%
KR	B	0.12%
BK	A	0.12%
AON	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%
PLTK	B	0.07%
CRUS	D	0.07%
QRVO	F	0.06%
NBIX	C	0.06%
ORCL	B	0.04%
VEEV	C	0.04%
TNL	A	0.04%
UTHR	C	0.04%
TOL	B	0.02%
PEGA	A	0.02%

FBUF Underweight 104 Positions Relative to HAPI

Symbol	Grade	Weight
XLC	A	-1.59%
BKNG	A	-1.52%
BSX	B	-1.15%
MS	A	-1.02%
ISRG	A	-1.01%
HON	B	-0.95%
KO	D	-0.93%
BLK	C	-0.87%
MELI	D	-0.76%
BX	A	-0.71%
MAR	B	-0.68%
AMD	F	-0.67%
DE	A	-0.67%
SO	D	-0.64%
TXN	C	-0.61%
FCX	D	-0.61%
DUK	C	-0.6%
IBM	C	-0.6%
HLT	A	-0.58%
WMB	A	-0.56%
PLD	D	-0.56%
KKR	A	-0.5%
ABNB	C	-0.49%
GEV	B	-0.48%
ZTS	D	-0.46%
EQIX	A	-0.46%
GWW	B	-0.41%
SLB	C	-0.38%
MO	A	-0.38%
MDLZ	F	-0.35%
PANW	C	-0.34%
NKE	D	-0.33%
INTC	D	-0.32%
LULU	C	-0.31%
URI	B	-0.31%
CTVA	C	-0.31%
CMI	A	-0.29%
DOW	F	-0.29%
DD	D	-0.29%
EBAY	D	-0.29%
EXPE	B	-0.26%
PWR	A	-0.26%
BKR	B	-0.26%
EXC	C	-0.26%
MRVL	B	-0.24%
SNPS	B	-0.24%
CDNS	B	-0.24%
DAL	C	-0.23%
EIX	B	-0.22%
CRWD	B	-0.21%
EW	C	-0.21%
EXR	D	-0.2%
ADSK	A	-0.2%
RMD	C	-0.2%
STLD	B	-0.2%
A	D	-0.2%
BLDR	D	-0.19%
ACGL	D	-0.19%
HIG	B	-0.19%
KMB	D	-0.18%
FICO	B	-0.17%
ALNY	D	-0.17%
SPOT	B	-0.17%
AEE	A	-0.16%
NDAQ	A	-0.16%
DTE	C	-0.16%
WDAY	B	-0.16%
GEHC	F	-0.15%
GIS	D	-0.15%
SYF	B	-0.15%
TTD	B	-0.15%
BRO	B	-0.14%
SBAC	D	-0.14%
STZ	D	-0.14%
IT	C	-0.13%
TEAM	A	-0.13%
HPQ	B	-0.12%
PFG	D	-0.12%
CBOE	B	-0.12%
ARES	A	-0.12%
BAH	F	-0.11%
PHM	D	-0.11%
ESS	B	-0.11%
LII	A	-0.11%
HUBS	A	-0.1%
LUV	C	-0.1%
BR	A	-0.09%
HPE	B	-0.09%
ANSS	B	-0.09%
ROK	B	-0.09%
NTAP	C	-0.08%
BG	F	-0.08%
MOH	F	-0.08%
RBLX	C	-0.07%
DOC	D	-0.07%
CPT	B	-0.07%
FDS	B	-0.06%
BMRN	D	-0.06%
TRMB	B	-0.05%
TER	D	-0.05%
MDB	C	-0.05%
J	F	-0.05%
EPAM	C	-0.04%
BSY	D	-0.03%