FDFF vs. IPAY ETF Comparison

Comparison of Fidelity Disruptive Finance ETF (FDFF) to ETFMG Prime Mobile Payments ETF (IPAY)

FDFF

Fidelity Disruptive Finance ETF

FDFF Description

The fund normally invests at least 80% of assets in securities of disruptive finance companies. Fidelity's disruptive strategies seek to identify innovative developments that could signal new directions for delivering products and services to customers. Generally, these companies have or are developing new or unconventional ways of doing business that could disrupt and displace incumbents over time. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$38.36

Average Daily Volume

2,413

Number of Holdings ^*

* may have additional holdings in another (foreign) market

IPAY

ETFMG Prime Mobile Payments ETF

IPAY Description

The ETFMG Prime Mobile Payments ETF (IPAY®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Prime Mobile Payments Index. The index provides a benchmark for investors interested in tracking the mobile and electronic payments industry, speciﬁcally focusing on credit card networks, payment infrastructure and software services, payment processing services, and payment solutions (such as smartcards, prepaid cards, virtual wallets).

Grade (RS Rating)

Last Trade

$61.02

Average Daily Volume

20,503

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FDFF	IPAY
30 Days	11.95%	12.96%
60 Days	15.45%	16.16%
90 Days	18.88%	21.02%
12 Months	46.23%	48.75%

8 Overlapping Holdings

Symbol	Grade	Weight in FDFF	Weight in IPAY	Overlap
COIN	C	2.0%	5.19%	2.0%
DLO	C	2.0%	0.38%	0.38%
FI	A	1.83%	6.42%	1.83%
FOUR	B	0.89%	2.91%	0.89%
MA	C	5.06%	5.65%	5.06%
SQ	B	2.07%	4.84%	2.07%
TOST	B	2.83%	6.23%	2.83%
V	A	5.36%	5.87%	5.36%

FDFF Overweight 25 Positions Relative to IPAY

Symbol	Grade	Weight
BLK	C	5.78%
APO	B	5.71%
COF	B	5.03%
FLYW	C	4.39%
MSTR	C	3.84%
EFX	F	3.33%
ICE	C	2.9%
OWL	A	2.06%
TW	A	1.48%
CBOE	B	1.47%
NRDS	C	1.38%
ARES	A	1.34%
MKTX	D	1.16%
CASH	A	1.15%
VRSK	A	1.1%
NU	C	1.09%
MSCI	C	1.06%
BILL	A	1.03%
VIRT	B	0.99%
PFSI	D	0.96%
AMH	D	0.9%
ALLY	C	0.85%
MELI	D	0.81%
RPAY	D	0.68%
UWMC	D	0.59%

FDFF Underweight 19 Positions Relative to IPAY

Symbol	Grade	Weight
PYPL	B	-6.43%
AXP	A	-5.83%
DFS	B	-4.96%
CPAY	A	-4.83%
AFRM	B	-4.82%
FIS	C	-4.28%
GPN	B	-4.08%
WEX	D	-3.09%
ACIW	B	-2.21%
QTWO	A	-2.16%
EEFT	B	-1.91%
WU	D	-1.28%
STNE	F	-1.13%
VYX	B	-0.77%
EVTC	B	-0.66%
MQ	F	-0.64%
PAGS	F	-0.59%
IMXI	B	-0.32%
GDOT	D	-0.26%