FBUF vs. SPSM ETF Comparison

Comparison of Fidelity Dynamic Buffered Equity ETF (FBUF) to SPDR Portfolio Small Cap ETF (SPSM)
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

$27.56

Average Daily Volume

5,170

Number of Holdings *

155

* may have additional holdings in another (foreign) market
SPSM

SPDR Portfolio Small Cap ETF

SPSM Description The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the SSGA Small Cap Index that tracks the performance of small capitalization exchange traded U.S. equity securities. The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. It may purchase a subset of the securities in the index in an effort to hold a portfolio of securities with generally the same risk and return characteristics of the index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$49.55

Average Daily Volume

1,582,217

Number of Holdings *

586

* may have additional holdings in another (foreign) market
Performance
Period FBUF SPSM
30 Days 3.04% 11.30%
60 Days 4.57% 10.04%
90 Days 6.09% 10.57%
12 Months 34.06%
4 Overlapping Holdings
Symbol Grade Weight in FBUF Weight in SPSM Overlap
ALRM C 0.34% 0.21% 0.21%
BBWI C 0.16% 0.5% 0.16%
SKYW B 0.31% 0.31% 0.31%
TPH C 0.18% 0.28% 0.18%
FBUF Overweight 151 Positions Relative to SPSM
Symbol Grade Weight
NVDA C 7.37%
AAPL B 7.34%
MSFT D 5.66%
AMZN C 3.84%
META D 2.89%
BRK.A B 2.2%
GOOGL C 2.04%
JPM B 1.93%
GOOG C 1.89%
AVGO D 1.62%
XOM C 1.56%
MA B 1.36%
HD A 1.32%
NFLX B 1.28%
TSLA B 1.27%
BAC A 1.18%
CRM B 1.16%
MRK F 0.96%
PM B 0.94%
ADBE C 0.94%
ABBV D 0.91%
QCOM F 0.85%
CMCSA C 0.84%
WMT B 0.82%
NEE D 0.82%
CSCO A 0.8%
PG A 0.8%
SCHW A 0.79%
LLY F 0.76%
UNP C 0.75%
BMY B 0.74%
GILD B 0.74%
JNJ D 0.73%
PYPL A 0.72%
TJX A 0.72%
C A 0.72%
T A 0.71%
LMT D 0.71%
TT B 0.68%
PGR A 0.67%
AMAT F 0.67%
V A 0.65%
CTAS B 0.65%
DIS B 0.65%
ECL D 0.63%
CI D 0.63%
ABT B 0.63%
KLAC F 0.61%
SQ B 0.6%
NOC D 0.6%
BDX F 0.58%
UNH B 0.57%
CL D 0.55%
SEIC A 0.54%
MMC A 0.53%
ZM B 0.53%
CAT B 0.53%
DBX C 0.52%
ZBRA A 0.52%
CVNA B 0.52%
DVN F 0.52%
MU D 0.5%
NOW B 0.5%
TXT D 0.5%
CSX B 0.49%
GE D 0.48%
EOG C 0.48%
CMG B 0.47%
IGT F 0.46%
CME A 0.44%
SPG C 0.44%
GRMN A 0.44%
MSI C 0.43%
AXP A 0.43%
EXEL A 0.43%
WM A 0.41%
PFE D 0.41%
TMO F 0.38%
HWM B 0.38%
ALLE D 0.38%
PCAR B 0.37%
NUE D 0.36%
ANF C 0.35%
TDC D 0.35%
PPG D 0.34%
INCY C 0.34%
F C 0.33%
LDOS D 0.31%
CAH B 0.31%
COST B 0.3%
RTX D 0.28%
TMUS A 0.28%
MEDP F 0.28%
TROW A 0.28%
WFC A 0.28%
TRV B 0.26%
ADP B 0.26%
MSCI C 0.26%
AMGN D 0.25%
UBER D 0.24%
SYK C 0.24%
LRCX F 0.24%
CVS D 0.23%
RSG A 0.23%
MGM F 0.23%
AMT D 0.21%
LHX C 0.21%
SPGI C 0.21%
GAP C 0.21%
BIIB F 0.21%
FTNT C 0.2%
PEP F 0.19%
MMM D 0.19%
SSNC A 0.18%
CACI D 0.17%
PSA C 0.17%
LNW D 0.16%
OXY F 0.15%
IDXX F 0.15%
VST B 0.14%
CLX C 0.14%
ITW A 0.14%
GL C 0.13%
GEN A 0.13%
KR A 0.12%
BK A 0.12%
INTU C 0.12%
AON A 0.12%
NSC A 0.11%
DASH A 0.11%
LPLA B 0.11%
UNM A 0.1%
ED D 0.1%
AME A 0.09%
TWLO B 0.09%
NRG C 0.09%
DOCU A 0.09%
LYFT C 0.08%
CINF A 0.07%
PLTK B 0.07%
CRUS F 0.07%
QRVO F 0.06%
NBIX C 0.06%
ANET C 0.06%
ORCL C 0.04%
VEEV B 0.04%
TNL A 0.04%
UTHR C 0.04%
TOL A 0.02%
CVX B 0.02%
PEGA A 0.02%
FBUF Underweight 582 Positions Relative to SPSM
Symbol Grade Weight
MLI C -0.73%
CRS B -0.64%
CMA A -0.64%
LUMN C -0.59%
GKOS B -0.54%
JXN B -0.54%
RHI C -0.53%
ATI D -0.5%
AWI B -0.48%
CSWI A -0.48%
SPSC C -0.47%
ALK A -0.47%
MTH C -0.46%
VFC C -0.46%
BMI B -0.45%
MOG.A B -0.45%
COOP B -0.45%
MMSI B -0.43%
EPRT B -0.42%
LNC B -0.42%
DY D -0.41%
ACIW B -0.41%
BCPC B -0.41%
ETSY D -0.41%
ZWS A -0.4%
EAT A -0.39%
BCC B -0.39%
AVAV D -0.39%
FSS B -0.39%
MARA C -0.38%
PIPR A -0.38%
RDNT C -0.37%
MGY B -0.37%
MC B -0.37%
ITRI B -0.37%
MATX C -0.37%
INSP D -0.37%
GPI B -0.37%
AL A -0.36%
ACA B -0.36%
CTRE D -0.36%
SEE C -0.36%
SM C -0.36%
ABG B -0.36%
RDN C -0.36%
CORT B -0.35%
BOX A -0.35%
SLG B -0.35%
GTES A -0.34%
IBP C -0.34%
PECO B -0.34%
IDCC A -0.33%
SHAK B -0.33%
SFBS B -0.33%
ABCB B -0.32%
KRYS C -0.32%
ITGR A -0.32%
ALKS B -0.32%
KTB A -0.32%
AGO A -0.32%
ADMA B -0.32%
LRN B -0.31%
AX B -0.31%
WHD A -0.31%
ICUI D -0.3%
FTDR B -0.3%
FELE B -0.3%
MAC A -0.3%
NSIT F -0.3%
GVA B -0.3%
SANM B -0.3%
SIG B -0.3%
MHO C -0.3%
PLXS B -0.3%
BGC C -0.29%
PBH B -0.29%
AROC B -0.29%
STEP B -0.29%
FUL D -0.29%
BOOT D -0.29%
NOG A -0.29%
AEIS B -0.29%
OGN F -0.28%
GMS B -0.28%
SKT A -0.28%
TGTX B -0.28%
UCB B -0.28%
KFY B -0.28%
CRC C -0.28%
HIMS A -0.28%
PI D -0.28%
VRRM F -0.27%
RUSHA B -0.27%
SITM B -0.27%
ESE B -0.27%
REZI B -0.27%
JBT B -0.27%
WDFC B -0.27%
AUB B -0.27%
MGEE C -0.27%
MDU F -0.27%
FULT B -0.27%
CALM B -0.27%
CVCO B -0.27%
SEM B -0.27%
GEO B -0.26%
DORM B -0.26%
MSGS B -0.26%
NWL A -0.26%
CATY B -0.26%
RXO C -0.26%
PJT B -0.26%
APLE B -0.25%
HCC B -0.25%
DXC B -0.25%
NPO A -0.25%
CBU B -0.25%
HP C -0.24%
HIW D -0.24%
BTU C -0.24%
IAC D -0.24%
OTTR C -0.24%
ASO F -0.24%
CCOI B -0.24%
FBP B -0.24%
CEIX A -0.24%
CNK B -0.24%
WD C -0.24%
FHB B -0.24%
WSFS B -0.24%
SMTC A -0.24%
SMPL B -0.24%
ABM B -0.24%
ENV B -0.23%
AWR B -0.23%
HASI D -0.23%
GNW A -0.23%
AEO F -0.23%
CWK B -0.23%
CRVL B -0.23%
SXT B -0.23%
APAM B -0.23%
ATGE B -0.23%
GFF B -0.22%
AVA B -0.22%
TDS B -0.22%
INDB B -0.22%
SFNC B -0.22%
BOH B -0.22%
BRC C -0.22%
BKU B -0.22%
HUBG A -0.22%
TRN B -0.22%
CARG C -0.22%
SHOO D -0.22%
BXMT C -0.22%
CPK A -0.21%
HBI B -0.21%
IOSP B -0.21%
LCII C -0.21%
FORM F -0.21%
TGNA B -0.21%
LBRT F -0.21%
WAFD B -0.21%
UNF B -0.21%
PATK C -0.21%
VIRT B -0.21%
SLVM B -0.21%
CVBF B -0.21%
PTEN C -0.21%
IIPR D -0.21%
NMIH C -0.21%
BL B -0.21%
CWT D -0.21%
ARCH B -0.21%
PENN C -0.21%
DEI A -0.21%
SNEX A -0.2%
FFBC B -0.2%
PFS B -0.2%
PRK B -0.2%
OII B -0.2%
ABR C -0.2%
UE B -0.2%
PRGS A -0.2%
PLMR B -0.2%
SATS D -0.2%
VSCO B -0.2%
GSHD B -0.2%
BFH B -0.2%
AKR A -0.19%
ENVA B -0.19%
AMR C -0.19%
FCPT C -0.19%
PPBI B -0.19%
CNS B -0.19%
PAYO B -0.19%
TMDX F -0.19%
POWL C -0.19%
DV C -0.19%
LXP D -0.19%
AGYS B -0.19%
TBBK B -0.19%
TDW F -0.18%
SBCF B -0.18%
DIOD D -0.18%
ZD C -0.18%
BANR B -0.18%
OUT A -0.18%
KLIC B -0.18%
MPW F -0.18%
AZZ B -0.18%
AIN C -0.18%
ARCB C -0.18%
JJSF C -0.18%
EPAC B -0.18%
NARI C -0.18%
VSTO A -0.18%
MTX B -0.18%
HNI B -0.18%
VCEL B -0.18%
CPRX C -0.17%
MYRG C -0.17%
CXW C -0.17%
STRA C -0.17%
RNST B -0.17%
AIR B -0.17%
CCS D -0.17%
PINC B -0.17%
MTRN C -0.17%
ACLS F -0.17%
HWKN A -0.17%
TTMI B -0.17%
YOU D -0.17%
PTGX C -0.17%
AAP C -0.17%
YELP C -0.17%
BANF B -0.17%
OSIS A -0.17%
SXI A -0.17%
WERN B -0.17%
URBN C -0.16%
KMT B -0.16%
CAKE B -0.16%
PSMT C -0.16%
BANC B -0.16%
ROIC A -0.16%
ENR A -0.16%
EVTC C -0.16%
RUN F -0.16%
IPAR B -0.16%
MP A -0.16%
HI C -0.16%
IBTX B -0.16%
CWEN C -0.16%
HAYW B -0.16%
DOCN D -0.16%
KWR D -0.16%
NBTB B -0.16%
TRMK B -0.16%
PHIN B -0.16%
LGND B -0.15%
SHO C -0.15%
LGIH C -0.15%
NATL C -0.15%
GRBK D -0.15%
PLUS F -0.15%
ADUS D -0.15%
OMCL C -0.15%
LMAT B -0.15%
ROCK C -0.15%
B A -0.15%
TFIN A -0.15%
PRVA B -0.15%
KAR B -0.15%
CRGY B -0.15%
VIAV B -0.15%
CNMD C -0.15%
FCF B -0.14%
JOE F -0.14%
JBLU F -0.14%
FBK B -0.14%
NEO C -0.14%
KSS F -0.14%
OI C -0.14%
SUPN C -0.14%
MRCY B -0.14%
MCY B -0.14%
CASH B -0.14%
VYX C -0.14%
EXTR C -0.14%
PRG B -0.14%
ALG C -0.14%
OFG B -0.14%
STC A -0.14%
GBX A -0.14%
UFPT C -0.14%
APOG B -0.13%
LZB B -0.13%
NBHC B -0.13%
CABO C -0.13%
DRH B -0.13%
FL D -0.13%
NWBI B -0.13%
LKFN B -0.13%
RAMP C -0.13%
FBNC B -0.13%
TNDM F -0.13%
CHCO B -0.13%
HOPE B -0.12%
TNC D -0.12%
CTS B -0.12%
SJW D -0.12%
PDCO D -0.12%
WKC D -0.12%
CENTA C -0.12%
HMN B -0.12%
LTC B -0.12%
PRDO B -0.12%
MLKN D -0.12%
NGVT B -0.12%
AMPH F -0.12%
ASTH F -0.12%
TRUP B -0.12%
FTRE C -0.12%
BHE B -0.12%
WGO C -0.12%
CALX F -0.12%
EPC D -0.12%
ADNT F -0.12%
WWW B -0.12%
GO C -0.12%
ROG D -0.12%
PEB D -0.11%
VECO F -0.11%
HELE C -0.11%
AMWD B -0.11%
IART C -0.11%
WABC B -0.11%
WS B -0.11%
XHR A -0.11%
TRIP F -0.11%
PLAB C -0.11%
CSGS B -0.11%
THS F -0.11%
SONO C -0.11%
NHC B -0.11%
DNOW B -0.11%
VSTS C -0.11%
NTCT B -0.11%
ANDE D -0.11%
PZZA F -0.11%
VRTS B -0.11%
LEG D -0.11%
KN B -0.11%
UCTT D -0.11%
VBTX A -0.11%
UPBD B -0.11%
GTY A -0.11%
SCL C -0.11%
CUBI C -0.11%
DFIN D -0.11%
NWN A -0.11%
STBA B -0.11%
FOXF F -0.1%
USPH C -0.1%
LNN B -0.1%
UVV B -0.1%
SBH B -0.1%
WT B -0.1%
MYGN F -0.1%
HLIT F -0.1%
UNIT B -0.1%
ALEX B -0.1%
ELME D -0.1%
CHEF B -0.1%
NX C -0.1%
TALO C -0.1%
DVAX C -0.1%
BKE B -0.1%
XNCR B -0.1%
TGI B -0.1%
SNDR B -0.1%
GNL D -0.1%
HLX C -0.1%
TILE A -0.1%
SPNT B -0.1%
SABR C -0.1%
HTH B -0.1%
VRE C -0.1%
VICR B -0.09%
ATEN B -0.09%
RC D -0.09%
MD C -0.09%
WOR D -0.09%
DCOM B -0.09%
SAFT B -0.09%
CRK B -0.09%
HRMY D -0.09%
KW C -0.09%
BHLB B -0.09%
KALU C -0.09%
JBGS D -0.09%
AAT B -0.09%
STAA F -0.09%
UNFI A -0.09%
EIG B -0.09%
THRM D -0.09%
EXPI C -0.08%
MXL C -0.08%
MCRI A -0.08%
ALGT B -0.08%
CBRL C -0.08%
EFC C -0.08%
BRKL B -0.08%
PGNY F -0.08%
CERT D -0.08%
AMSF B -0.08%
FIZZ B -0.08%
CSR B -0.08%
OXM D -0.08%
ARLO C -0.08%
SCSC B -0.08%
DGII B -0.08%
CARS B -0.08%
QNST C -0.08%
PBI B -0.08%
KLG C -0.08%
NVEE F -0.08%
FDP C -0.08%
PMT D -0.08%
CENX B -0.08%
PLAY D -0.08%
MODG F -0.08%
ECPG B -0.08%
ARI C -0.08%
DEA D -0.08%
NAVI C -0.08%
PFBC B -0.08%
MSEX B -0.08%
GIII C -0.08%
COHU C -0.08%
VVI B -0.07%
HCI B -0.07%
SAH B -0.07%
TMP B -0.07%
CLB C -0.07%
RWT D -0.07%
CXM C -0.07%
PRLB B -0.07%
PDFS C -0.07%
COLL F -0.07%
UTL B -0.07%
LPG F -0.07%
XRX F -0.07%
BLMN F -0.07%
MMI B -0.07%
XPEL C -0.07%
MRTN C -0.07%
PARR D -0.07%
NXRT B -0.07%
SBSI B -0.07%
AORT B -0.07%
SDGR C -0.07%
AMN F -0.07%
AHCO D -0.07%
ICHR C -0.07%
DAN F -0.07%
INVA D -0.07%
SXC B -0.07%
DLX B -0.07%
CAL D -0.07%
FBRT C -0.07%
RCUS F -0.06%
HAYN C -0.06%
ASIX A -0.06%
KOP C -0.06%
BJRI B -0.06%
BSIG B -0.06%
AVNS F -0.06%
CPF B -0.06%
EMBC C -0.06%
HCSG B -0.06%
WNC C -0.06%
CFFN B -0.06%
ASTE C -0.06%
CNXN C -0.06%
EGBN B -0.06%
PRA B -0.06%
VTLE C -0.06%
MNRO C -0.06%
ODP F -0.06%
DXPE A -0.06%
WOLF F -0.06%
JACK D -0.06%
BDN C -0.06%
CWEN C -0.06%
HFWA B -0.06%
EYE C -0.06%
OMI F -0.06%
PRAA C -0.06%
VTOL B -0.06%
HSII B -0.06%
ANIP D -0.06%
RGR F -0.05%
WSR A -0.05%
VIR F -0.05%
CTKB C -0.05%
HAIN C -0.05%
NBR C -0.05%
ETD C -0.05%
CVI F -0.05%
INN C -0.05%
KREF D -0.05%
CEVA B -0.05%
SMP C -0.05%
MATV F -0.05%
GPRE F -0.05%
MGPI F -0.05%
TRST B -0.05%
SWI B -0.05%
GDEN C -0.05%
REX F -0.05%
SSTK F -0.05%
AOSL C -0.05%
AXL C -0.05%
MCW C -0.05%
NABL F -0.05%
MATW C -0.05%
BLFS C -0.05%
HSTM B -0.05%
AHH D -0.05%
JBSS F -0.05%
TTGT C -0.05%
HAFC B -0.05%
PCRX C -0.05%
BGS F -0.04%
PAHC C -0.04%
HTZ C -0.04%
UHT D -0.04%
HTLD C -0.04%
TR B -0.04%
NVRI F -0.04%
MLAB D -0.04%
LESL C -0.04%
MTUS C -0.04%
IRWD F -0.04%
GDOT D -0.04%
HZO C -0.04%
SNCY C -0.04%
UFCS B -0.04%
IIIN C -0.04%
SHEN F -0.04%
AMBC C -0.04%
LQDT B -0.04%
SPTN F -0.04%
VSAT F -0.04%
SCVL F -0.04%
SCHL D -0.04%
EZPW B -0.04%
SEDG F -0.04%
PUMP C -0.04%
FWRD D -0.04%
CENT C -0.03%
CNSL C -0.03%
NPK B -0.03%
WRLD C -0.03%
MYE F -0.03%
USNA C -0.03%
SVC F -0.03%
SLP D -0.03%
THRY F -0.03%
RGNX F -0.03%
GOGO C -0.03%
KELYA F -0.03%
GES F -0.03%
BFS C -0.03%
HPP F -0.03%
RES D -0.03%
CRSR C -0.02%
TWI D -0.02%
FLGT F -0.02%
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