FDLO vs. HELO ETF Comparison

Comparison of Fidelity Low Volatility Factor ETF (FDLO) to JPMorgan Hedged Equity Laddered Overlay ETF (HELO)

FDLO

Fidelity Low Volatility Factor ETF

FDLO Description

The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity U.S. Low Volatility Factor Index. Normally investing at least 80% of assets in securities included in the Fidelity U.S. Low Volatility Factor Index, which is designed to reflect the performance of stocks of large and mid-capitalization U.S. companies with lower volatility than the broader market.

Grade (RS Rating)

Last Trade

$61.92

Average Daily Volume

77,856

Number of Holdings ^*

125

* may have additional holdings in another (foreign) market

HELO

JPMorgan Hedged Equity Laddered Overlay ETF

HELO Description

The fund seeks to provide capital appreciation through participation in the broad equity markets while hedging overall market exposure relative to traditional long-only equity strategies. Under normal circumstances, it invests at least 80% of its assets in equity securities. The fund uses an enhanced index strategy to invest in equity securities similar to those in the S&P 500 Index, which primarily consist of common stocks of large capitalization U.S. companies.

Grade (RS Rating)

Last Trade

$62.24

Average Daily Volume

249,673

Number of Holdings ^*

163

* may have additional holdings in another (foreign) market

Performance

Period	FDLO	HELO
30 Days	2.79%	2.55%
60 Days	4.78%	6.38%
90 Days	8.19%	7.95%
12 Months	25.09%	22.89%

51 Overlapping Holdings

Symbol	Grade	Weight in FDLO	Weight in HELO	Overlap
AAPL	C	7.42%	6.98%	6.98%
ABBV	B	1.2%	1.37%	1.2%
ABT	B	0.89%	0.19%	0.19%
ACN	B	1.56%	0.51%	0.51%
AMZN	A	3.72%	4.15%	3.72%
AZO	B	0.45%	0.64%	0.45%
BRK.A	C	2.05%	1.46%	1.46%
CMCSA	B	0.93%	0.7%	0.7%
CME	C	0.7%	0.6%	0.6%
CMS	D	0.24%	0.23%	0.23%
COP	D	0.38%	0.75%	0.38%
CVX	B	0.63%	0.16%	0.16%
DLR	C	0.27%	0.41%	0.27%
ELS	D	0.15%	0.19%	0.15%
EOG	C	0.28%	0.43%	0.28%
EQIX	C	0.31%	0.07%	0.07%
ETN	B	0.69%	0.36%	0.36%
GOOGL	B	4.16%	2.1%	2.1%
HON	C	0.62%	0.93%	0.62%
JNJ	D	1.23%	0.55%	0.55%
KO	F	0.7%	0.73%	0.7%
LIN	D	0.56%	0.87%	0.56%
LLY	F	1.78%	1.2%	1.2%
LOW	C	0.68%	1.01%	0.68%
MA	B	1.32%	1.72%	1.32%
MCD	D	0.8%	0.48%	0.48%
MDLZ	F	0.4%	0.77%	0.4%
MLM	B	0.2%	0.17%	0.17%
MMC	D	0.67%	0.15%	0.15%
MRK	F	0.96%	0.31%	0.31%
MSFT	D	7.21%	7.32%	7.21%
MSI	B	1.38%	0.16%	0.16%
NOC	D	0.51%	0.17%	0.17%
ORLY	A	0.51%	0.12%	0.12%
OTIS	B	0.46%	0.5%	0.46%
PEP	F	0.64%	0.78%	0.64%
PG	F	0.96%	0.22%	0.22%
PGR	B	0.8%	0.72%	0.72%
PM	C	0.64%	0.33%	0.33%
REGN	F	0.6%	0.52%	0.52%
SO	C	0.38%	0.88%	0.38%
T	B	0.96%	0.14%	0.14%
TMO	D	0.84%	0.89%	0.84%
TMUS	B	0.92%	0.23%	0.23%
TRV	B	0.66%	0.37%	0.37%
TXN	A	1.53%	0.89%	0.89%
UNH	B	1.47%	1.55%	1.47%
UNP	C	0.62%	0.17%	0.17%
V	A	1.38%	1.42%	1.38%
VRTX	B	0.7%	0.59%	0.59%
XOM	B	1.15%	1.4%	1.15%

FDLO Overweight 74 Positions Relative to HELO

Symbol	Grade	Weight
ORCL	A	1.91%
JPM	A	1.73%
CSCO	A	1.7%
IBM	D	1.53%
TYL	C	1.23%
ROP	C	1.21%
AKAM	B	1.19%
DOX	B	1.14%
HD	C	1.14%
VRSN	C	1.06%
WMT	B	0.92%
VZ	D	0.92%
AMGN	D	0.79%
CB	D	0.71%
SBUX	C	0.69%
EA	B	0.66%
ADP	A	0.64%
BDX	C	0.63%
TJX	D	0.61%
LMT	D	0.59%
AJG	C	0.58%
CBOE	C	0.57%
FDS	B	0.56%
NKE	F	0.56%
AIZ	B	0.55%
WM	B	0.54%
ITW	A	0.54%
WRB	B	0.53%
JKHY	C	0.53%
FAST	A	0.52%
BAH	C	0.52%
GD	B	0.51%
PAYX	A	0.5%
GRMN	A	0.5%
ERIE	D	0.5%
LHX	B	0.49%
RSG	B	0.45%
TSCO	C	0.44%
J	C	0.4%
HII	F	0.37%
CL	F	0.36%
DUK	D	0.36%
FCN	D	0.35%
AMT	F	0.31%
WMB	A	0.31%
GIS	F	0.3%
KMB	F	0.3%
SHW	C	0.29%
KMI	B	0.28%
AEP	D	0.28%
APD	C	0.27%
XEL	B	0.27%
ED	D	0.26%
WEC	C	0.26%
PSA	D	0.25%
AEE	B	0.25%
HSY	F	0.25%
ECL	D	0.25%
O	D	0.24%
LNG	B	0.24%
CTVA	B	0.23%
DTM	A	0.21%
CCI	F	0.21%
VMC	B	0.2%
EQR	D	0.19%
CSGP	D	0.18%
PKG	B	0.18%
CTRA	D	0.18%
MAA	D	0.17%
AMCR	D	0.16%
ATR	B	0.16%
AVY	F	0.15%
AMH	F	0.15%
ADC	D	0.15%

FDLO Underweight 112 Positions Relative to HELO

Symbol	Grade	Weight
NVDA	A	-7.53%
META	C	-2.94%
GOOG	B	-1.6%
TSLA	A	-1.3%
BAC	A	-1.18%
AVGO	B	-1.07%
CRM	B	-1.06%
WFC	B	-0.94%
NOW	A	-0.92%
TT	B	-0.89%
ADI	C	-0.79%
NXPI	D	-0.79%
NEE	D	-0.77%
SYK	B	-0.73%
DE	B	-0.71%
BKNG	B	-0.68%
UBER	C	-0.66%
GS	A	-0.66%
BMY	B	-0.62%
COST	C	-0.61%
MU	C	-0.6%
HWM	A	-0.56%
UPS	C	-0.55%
FIS	C	-0.54%
TFC	A	-0.53%
PLD	F	-0.51%
YUM	C	-0.5%
TDG	B	-0.5%
BSX	B	-0.5%
INTU	C	-0.49%
DHR	D	-0.49%
MDT	C	-0.49%
AMD	F	-0.49%
CMG	C	-0.48%
CARR	D	-0.46%
CTSH	B	-0.46%
FITB	A	-0.45%
ROST	F	-0.44%
AON	B	-0.44%
STX	D	-0.44%
CPAY	B	-0.43%
LDOS	B	-0.43%
VTR	C	-0.42%
RCL	A	-0.4%
DOW	F	-0.39%
CSX	C	-0.39%
SCHW	B	-0.38%
LRCX	F	-0.38%
USB	B	-0.37%
PCG	C	-0.35%
HLT	B	-0.35%
ELV	D	-0.33%
SBAC	D	-0.33%
MNST	B	-0.31%
FDX	C	-0.31%
FANG	D	-0.3%
MET	B	-0.3%
C	B	-0.29%
WELL	C	-0.28%
TXT	D	-0.28%
EXPE	B	-0.26%
CHD	C	-0.25%
MAS	D	-0.24%
LYB	F	-0.24%
KVUE	C	-0.23%
BURL	D	-0.23%
DAL	A	-0.22%
PPG	D	-0.21%
BKR	A	-0.21%
CHTR	B	-0.21%
WDC	B	-0.2%
BBY	D	-0.2%
KKR	A	-0.19%
AMP	A	-0.19%
HPE	B	-0.19%
DIS	C	-0.18%
PCAR	B	-0.17%
IR	A	-0.17%
ADBE	D	-0.17%
HUM	F	-0.16%
CDNS	B	-0.16%
LULU	C	-0.14%
MO	B	-0.14%
TGT	F	-0.14%
LEN	D	-0.14%
PFG	C	-0.13%
AXP	A	-0.13%
MCK	B	-0.13%
BIIB	F	-0.13%
HCA	D	-0.12%
URI	B	-0.12%
APTV	F	-0.12%
FICO	A	-0.11%
ANET	A	-0.11%
WMG	B	-0.11%
SQ	B	-0.1%
NUE	C	-0.1%
VST	B	-0.09%
NBIX	C	-0.08%
EL	F	-0.07%
SIRI	D	-0.07%
DASH	A	-0.07%
AME	B	-0.06%
MRVL	B	-0.06%
D	C	-0.06%
ETR	B	-0.06%
BAX	D	-0.06%
EQT	B	-0.05%
NRG	B	-0.04%
SRPT	C	-0.04%
BMRN	F	-0.03%
LKQ	F	-0.02%