FDFF vs. TGLR ETF Comparison

Comparison of Fidelity Disruptive Finance ETF (FDFF) to LAFFER TENGLER Equity Income ETF (TGLR)

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

$37.70

Average Daily Volume

2,380

Number of Holdings ^*

* may have additional holdings in another (foreign) market

TGLR

LAFFER TENGLER Equity Income ETF

TGLR Description

TGLR aims to provide long-term capital appreciation by actively selecting between 25-35 US large-cap stocks. The stocks selected are expected to produce above-market dividend yield with low turnover. The strategy is based on two valuation metrics the sub-adviser believes to be consistent indicators of company value: relative dividend yield and relative price-to-sales ratio. The metrics help determine over- and under valuation, security by security. The sub-adviser then conducts proprietary fundamental factor research to identify stocks for portfolio selection. The research considers both qualitative and quantitative factors such as: catalyst for outperformance, franchise value and market growth, firm management, sales or revenue growth, margins, positive free cash flow, dividend growth, P/E, asset turnover, leverage, and risk. The primary indicator for a stock sell is when the stocks dividend yield is lower than the S&P 500 Index, a sell range is determined.

Grade (RS Rating)

Last Trade

$30.58

Average Daily Volume

2,293

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FDFF	TGLR
30 Days	9.01%	1.96%
60 Days	14.00%	4.28%
90 Days	16.82%	6.41%
12 Months	43.70%	29.69%

0 Overlapping Holdings

	Symbol	Grade	Weight in FDFF	Weight in TGLR	Overlap

FDFF Overweight 33 Positions Relative to TGLR

Symbol	Grade	Weight
BLK	B	5.78%
APO	B	5.71%
V	A	5.36%
MA	B	5.06%
COF	C	5.03%
FLYW	B	4.39%
MSTR	B	3.84%
EFX	F	3.33%
ICE	C	2.9%
TOST	B	2.83%
SQ	A	2.07%
OWL	A	2.06%
DLO	C	2.0%
COIN	C	2.0%
FI	A	1.83%
TW	A	1.48%
CBOE	C	1.47%
NRDS	C	1.38%
ARES	A	1.34%
MKTX	D	1.16%
CASH	B	1.15%
VRSK	A	1.1%
NU	C	1.09%
MSCI	C	1.06%
BILL	A	1.03%
VIRT	A	0.99%
PFSI	C	0.96%
AMH	C	0.9%
FOUR	A	0.89%
ALLY	C	0.85%
MELI	C	0.81%
RPAY	D	0.68%
UWMC	D	0.59%

FDFF Underweight 29 Positions Relative to TGLR

Symbol	Grade	Weight
ORCL	A	-6.11%
AXP	A	-4.89%
AVGO	D	-4.51%
JPM	A	-4.48%
WMT	A	-4.46%
MSFT	D	-4.27%
HD	B	-4.15%
CARR	C	-4.14%
GS	A	-3.92%
MCD	D	-3.87%
RTX	D	-3.65%
ABBV	F	-3.64%
TXN	C	-3.26%
CVX	A	-3.15%
EMR	B	-3.14%
LHX	C	-3.04%
SBUX	A	-2.89%
JNJ	C	-2.82%
STLD	B	-2.8%
EOG	A	-2.77%
GOOGL	C	-2.56%
DELL	B	-2.52%
NXPI	D	-2.51%
AAPL	C	-2.41%
LRCX	F	-2.33%
PLD	F	-2.27%
PEP	F	-2.16%
MDT	D	-2.05%
NEE	C	-1.71%