FDLO vs. ITAN ETF Comparison

Comparison of Fidelity Low Volatility Factor ETF (FDLO) to Sparkline Intangible Value ETF (ITAN)

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

$61.00

Average Daily Volume

89,039

Number of Holdings ^*

125

* may have additional holdings in another (foreign) market

ITAN

Sparkline Intangible Value ETF

ITAN Description

The investment seeks long-term capital appreciation. The fund is an actively-managed exchange-traded fund (âETFâ). The fund will invest in U.S.-listed equity securities that Sparkline Capital LP (the âSub-Adviserâ) believes are attractive relative to its proprietary measure of âintangible-augmented intrinsic value.â The fundâs investments may include common stocks and Real Estate Investment Trusts (REITs). Although the fund will not concentrate its investments in a particular industry, the Sub-Adviser anticipates that fund will hold a meaningful amount of stocks in the technology, communications, healthcare, and consumer discretionary sectors.

Grade (RS Rating)

Last Trade

$30.26

Average Daily Volume

5,902

Number of Holdings ^*

150

* may have additional holdings in another (foreign) market

Performance

Period	FDLO	ITAN
30 Days	2.32%	4.37%
60 Days	5.17%	5.91%
90 Days	7.29%	6.99%
12 Months	26.67%	31.15%

21 Overlapping Holdings

Symbol	Grade	Weight in FDLO	Weight in ITAN	Overlap
ACN	C	1.53%	1.55%	1.53%
AKAM	D	1.17%	0.37%	0.37%
AMZN	C	3.72%	4.74%	3.72%
BAH	B	0.45%	0.49%	0.45%
BDX	D	0.62%	0.71%	0.62%
CMCSA	C	0.89%	0.96%	0.89%
CSCO	B	1.6%	1.74%	1.6%
DOX	C	1.12%	0.25%	0.25%
EA	D	0.62%	0.47%	0.47%
GD	C	0.52%	0.71%	0.52%
GOOGL	D	3.93%	1.87%	1.87%
HON	C	0.62%	1.1%	0.62%
IBM	B	1.64%	1.83%	1.64%
J	A	0.42%	0.54%	0.42%
LHX	C	0.47%	0.64%	0.47%
LMT	A	0.62%	0.9%	0.62%
NOC	B	0.54%	0.93%	0.54%
ORCL	B	1.85%	2.71%	1.85%
T	B	0.95%	1.54%	0.95%
TMUS	B	0.83%	1.31%	0.83%
VZ	A	1.0%	1.38%	1.0%

FDLO Overweight 104 Positions Relative to ITAN

Symbol	Grade	Weight
AAPL	C	7.4%
MSFT	C	7.29%
BRK.A	C	2.07%
LLY	D	1.95%
JPM	D	1.63%
TXN	B	1.51%
UNH	C	1.51%
MSI	B	1.36%
V	C	1.36%
MA	B	1.27%
JNJ	C	1.26%
ROP	C	1.24%
ABBV	B	1.16%
TYL	C	1.16%
XOM	D	1.14%
HD	B	1.14%
VRSN	C	1.09%
MRK	F	1.08%
PG	C	1.02%
TMO	B	0.94%
WMT	B	0.9%
ABT	C	0.89%
PGR	C	0.86%
AMGN	D	0.85%
MCD	B	0.82%
KO	B	0.76%
REGN	D	0.75%
CB	B	0.73%
VRTX	D	0.69%
MMC	C	0.68%
SBUX	C	0.68%
LOW	B	0.68%
PEP	D	0.67%
ETN	C	0.67%
CME	B	0.66%
UNP	D	0.66%
NKE	D	0.64%
TRV	C	0.64%
TJX	C	0.64%
CVX	F	0.63%
ADP	C	0.61%
ERIE	B	0.59%
PM	C	0.59%
AJG	D	0.57%
CBOE	C	0.57%
FDS	C	0.57%
LIN	B	0.56%
AIZ	B	0.55%
WRB	D	0.53%
ITW	B	0.52%
JKHY	B	0.51%
WM	D	0.51%
ORLY	B	0.49%
PAYX	C	0.48%
FAST	C	0.47%
TSCO	B	0.46%
AZO	B	0.46%
RSG	D	0.46%
OTIS	B	0.45%
MDLZ	C	0.43%
GRMN	D	0.42%
HII	F	0.4%
FCN	C	0.4%
COP	F	0.4%
CL	C	0.39%
SO	B	0.38%
DUK	B	0.37%
AMT	C	0.34%
GIS	B	0.33%
KMB	C	0.32%
AEP	C	0.3%
EOG	D	0.3%
EQIX	B	0.3%
SHW	B	0.3%
XEL	B	0.28%
ED	B	0.27%
PSA	C	0.27%
WMB	C	0.27%
HSY	D	0.27%
WEC	B	0.26%
AEE	B	0.25%
APD	B	0.25%
ECL	B	0.25%
DLR	B	0.24%
LNG	D	0.24%
O	B	0.24%
CMS	B	0.24%
KMI	C	0.24%
CCI	C	0.23%
CTVA	B	0.21%
CSGP	D	0.19%
EQR	C	0.19%
DTM	C	0.18%
VMC	C	0.18%
CTRA	F	0.18%
MLM	D	0.18%
MAA	C	0.18%
AMH	D	0.17%
PKG	B	0.17%
AVY	C	0.16%
AMCR	B	0.16%
ELS	D	0.16%
ATR	B	0.15%
ADC	C	0.15%

FDLO Underweight 129 Positions Relative to ITAN

Symbol	Grade	Weight
META	B	-3.06%
CRM	C	-2.02%
GOOG	D	-1.87%
QCOM	D	-1.74%
INTC	D	-1.41%
PFE	D	-1.38%
DELL	C	-1.23%
RTX	B	-1.23%
WFC	D	-1.22%
MDT	B	-1.21%
DIS	D	-1.08%
TGT	C	-1.05%
PYPL	B	-1.02%
BA	F	-0.99%
MMM	B	-0.95%
BMY	C	-0.94%
CVS	D	-0.94%
COF	B	-0.92%
GILD	B	-0.88%
GM	C	-0.86%
CMI	B	-0.83%
PANW	D	-0.81%
FDX	D	-0.8%
F	F	-0.78%
HPQ	C	-0.76%
SQ	D	-0.75%
CTSH	B	-0.74%
ALL	C	-0.72%
EBAY	B	-0.72%
NXPI	D	-0.71%
DASH	B	-0.7%
CNC	D	-0.69%
JCI	B	-0.65%
CHTR	D	-0.64%
HPE	C	-0.62%
WDC	C	-0.62%
WDAY	D	-0.61%
GLW	B	-0.61%
NTAP	D	-0.61%
UAL	B	-0.58%
ADSK	B	-0.58%
SNAP	D	-0.57%
DAL	C	-0.55%
EXPE	C	-0.54%
TEL	D	-0.54%
ILMN	D	-0.53%
KR	B	-0.52%
PRU	C	-0.52%
LDOS	A	-0.51%
BBY	A	-0.51%
BAX	C	-0.51%
HUM	F	-0.5%
ZBRA	B	-0.5%
CVNA	B	-0.49%
WBD	D	-0.48%
ZS	F	-0.48%
DD	B	-0.47%
DOCU	C	-0.47%
IQV	D	-0.47%
UBER	C	-0.47%
CAH	C	-0.47%
FFIV	B	-0.46%
BIIB	F	-0.44%
NTNX	D	-0.44%
JNPR	A	-0.44%
ZM	C	-0.43%
VTRS	D	-0.43%
ROK	D	-0.42%
CACI	B	-0.42%
OKTA	F	-0.42%
DGX	B	-0.42%
PSTG	F	-0.42%
Z	C	-0.41%
TRU	B	-0.41%
ROKU	D	-0.41%
ACM	B	-0.41%
JLL	B	-0.4%
DVA	B	-0.4%
CIEN	B	-0.39%
MU	D	-0.39%
TWLO	C	-0.39%
EMN	B	-0.38%
EXAS	D	-0.38%
DBX	C	-0.38%
JBL	C	-0.38%
HAL	F	-0.37%
W	C	-0.36%
TRMB	C	-0.36%
U	D	-0.34%
TPR	A	-0.33%
AAL	D	-0.33%
IP	C	-0.33%
LUV	C	-0.31%
ACI	F	-0.31%
APTV	D	-0.31%
SWK	B	-0.31%
LYFT	D	-0.31%
ALLY	F	-0.3%
SWKS	F	-0.29%
HAS	B	-0.29%
ETSY	D	-0.28%
WBA	F	-0.28%
ELAN	D	-0.28%
WHR	C	-0.27%
PARA	D	-0.27%
JAZZ	D	-0.27%
TAP	D	-0.26%
PII	D	-0.26%
ARW	B	-0.26%
AGCO	D	-0.25%
MTCH	C	-0.25%
RUN	D	-0.25%
IVZ	B	-0.25%
PATH	D	-0.24%
BWA	C	-0.24%
DLB	D	-0.24%
QRVO	F	-0.24%
HRB	C	-0.24%
RIVN	F	-0.23%
MASI	C	-0.23%
MAT	D	-0.23%
ALK	B	-0.23%
GAP	F	-0.22%
BIO	C	-0.22%
RHI	D	-0.21%
NOV	F	-0.21%
FLR	D	-0.19%
XRAY	D	-0.17%
M	F	-0.16%