FDLO vs. PAPI ETF Comparison

Comparison of Fidelity Low Volatility Factor ETF (FDLO) to Parametric Equity Premium Income ETF (PAPI)

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

$61.98

Average Daily Volume

74,193

Number of Holdings ^*

125

* may have additional holdings in another (foreign) market

PAPI

Parametric Equity Premium Income ETF

PAPI Description

The fund is an actively managed exchange-traded fund. Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities. Equity securities in which the fund may invest include common stocks.

Grade (RS Rating)

Last Trade

$28.08

Average Daily Volume

33,669

Number of Holdings ^*

189

* may have additional holdings in another (foreign) market

Performance

Period	FDLO	PAPI
30 Days	0.81%	3.08%
60 Days	1.49%	3.73%
90 Days	4.05%	4.88%
12 Months	21.68%	19.25%

55 Overlapping Holdings

Symbol	Grade	Weight in FDLO	Weight in PAPI	Overlap
ABBV	D	0.98%	0.46%	0.46%
ABT	B	0.9%	0.52%	0.52%
ACN	C	1.6%	0.5%	0.5%
ADP	B	0.66%	0.54%	0.54%
AEE	A	0.26%	0.54%	0.26%
AEP	D	0.28%	0.5%	0.28%
AMCR	D	0.15%	0.47%	0.15%
APD	A	0.27%	0.51%	0.27%
ATR	B	0.16%	0.52%	0.16%
BDX	F	0.6%	0.5%	0.5%
CMCSA	B	0.95%	0.54%	0.54%
CME	A	0.69%	0.52%	0.52%
COP	C	0.41%	0.56%	0.41%
CSCO	B	1.77%	0.54%	0.54%
CTRA	B	0.19%	0.57%	0.19%
CTVA	C	0.2%	0.5%	0.2%
CVX	A	0.69%	0.57%	0.57%
DOX	D	1.08%	0.49%	0.49%
DTM	B	0.23%	0.62%	0.23%
DUK	C	0.35%	0.5%	0.35%
EA	A	0.72%	0.59%	0.59%
ED	D	0.25%	0.48%	0.25%
EOG	A	0.32%	0.56%	0.32%
FAST	B	0.54%	0.56%	0.54%
GD	F	0.49%	0.5%	0.49%
GRMN	B	0.51%	0.65%	0.51%
HII	D	0.29%	0.39%	0.29%
IBM	C	1.54%	0.46%	0.46%
JKHY	D	0.51%	0.49%	0.49%
JNJ	D	1.18%	0.5%	0.5%
KMB	D	0.3%	0.49%	0.3%
KMI	A	0.3%	0.58%	0.3%
KO	D	0.66%	0.45%	0.45%
LHX	C	0.49%	0.53%	0.49%
LIN	D	0.53%	0.49%	0.49%
MRK	F	0.88%	0.46%	0.46%
MSFT	F	6.93%	0.53%	0.53%
PAYX	C	0.51%	0.53%	0.51%
PEP	F	0.62%	0.48%	0.48%
PG	A	0.99%	0.52%	0.52%
PKG	A	0.19%	0.56%	0.19%
PM	B	0.62%	0.56%	0.56%
ROP	B	1.21%	0.52%	0.52%
SO	D	0.37%	0.5%	0.37%
T	A	0.99%	0.55%	0.55%
TJX	A	0.65%	0.54%	0.54%
TRV	B	0.69%	0.57%	0.57%
TXN	C	1.48%	0.53%	0.53%
UNH	C	1.55%	0.55%	0.55%
VZ	C	0.93%	0.5%	0.5%
WEC	A	0.27%	0.52%	0.27%
WMB	A	0.34%	0.58%	0.34%
WMT	A	0.95%	0.54%	0.54%
XEL	A	0.3%	0.57%	0.3%
XOM	B	1.17%	0.52%	0.52%

FDLO Overweight 70 Positions Relative to PAPI

Symbol	Grade	Weight
AAPL	C	7.26%
GOOGL	C	4.12%
AMZN	C	3.92%
BRK.A	B	2.13%
ORCL	B	2.01%
JPM	A	1.89%
LLY	F	1.57%
MSI	B	1.49%
V	A	1.47%
MA	C	1.34%
HD	A	1.19%
TYL	B	1.19%
VRSN	F	1.08%
AKAM	D	1.03%
TMUS	B	0.97%
PGR	A	0.84%
MCD	D	0.8%
TMO	F	0.78%
CB	C	0.72%
ETN	A	0.72%
LOW	D	0.71%
AMGN	D	0.71%
SBUX	A	0.7%
HON	B	0.7%
VRTX	F	0.69%
MMC	B	0.67%
UNP	C	0.63%
AJG	B	0.61%
AIZ	A	0.61%
FDS	B	0.59%
LMT	D	0.58%
ITW	B	0.56%
WRB	A	0.56%
NKE	D	0.56%
WM	A	0.55%
CBOE	B	0.55%
ORLY	B	0.53%
REGN	F	0.5%
NOC	D	0.5%
OTIS	C	0.47%
AZO	C	0.47%
RSG	A	0.47%
TSCO	D	0.46%
ERIE	D	0.45%
BAH	F	0.43%
J	F	0.39%
MDLZ	F	0.37%
CL	D	0.35%
FCN	D	0.34%
EQIX	A	0.31%
SHW	A	0.3%
AMT	D	0.29%
GIS	D	0.28%
LNG	B	0.28%
DLR	B	0.26%
PSA	D	0.25%
CMS	C	0.24%
HSY	F	0.24%
ECL	D	0.24%
O	D	0.22%
CCI	D	0.21%
VMC	B	0.2%
MLM	B	0.19%
CSGP	D	0.18%
MAA	B	0.18%
EQR	B	0.18%
ADC	B	0.16%
AMH	D	0.16%
ELS	C	0.16%
AVY	D	0.14%

FDLO Underweight 134 Positions Relative to PAPI

Symbol	Grade	Weight
SNA	A	-0.63%
IP	B	-0.63%
BKR	B	-0.62%
EMR	A	-0.61%
OKE	A	-0.61%
UNM	A	-0.61%
IDCC	A	-0.61%
PINC	B	-0.6%
FOX	A	-0.59%
CFR	B	-0.59%
TAP	C	-0.59%
PB	A	-0.59%
MO	A	-0.59%
IDA	A	-0.59%
CINF	A	-0.58%
JHG	A	-0.58%
JCI	C	-0.58%
WHR	B	-0.57%
RHI	B	-0.57%
SRE	A	-0.57%
RF	A	-0.57%
DGX	A	-0.57%
SYK	C	-0.57%
LH	C	-0.57%
TXRH	C	-0.57%
FOXA	B	-0.57%
CMI	A	-0.57%
WSO	A	-0.56%
CAH	B	-0.56%
RS	B	-0.56%
TROW	B	-0.56%
VLO	C	-0.55%
PPL	B	-0.55%
DCI	B	-0.55%
INGR	B	-0.55%
GGG	B	-0.55%
EVRG	A	-0.55%
OGE	B	-0.55%
GNTX	C	-0.54%
MOS	F	-0.54%
PAG	B	-0.54%
COR	B	-0.54%
OGS	A	-0.54%
ORI	A	-0.54%
COST	B	-0.54%
CHD	B	-0.54%
AFG	A	-0.54%
DRI	B	-0.54%
MTN	C	-0.54%
CTSH	B	-0.53%
AM	A	-0.53%
GILD	C	-0.53%
PRU	A	-0.53%
ATO	A	-0.53%
MSM	C	-0.53%
COLM	B	-0.53%
HPE	B	-0.53%
GLW	B	-0.53%
HP	B	-0.52%
LNT	A	-0.52%
BMI	B	-0.52%
NFG	A	-0.52%
PEG	A	-0.52%
UPS	C	-0.52%
HPQ	B	-0.52%
EXPD	D	-0.52%
PSX	C	-0.52%
CHRD	D	-0.52%
POR	C	-0.51%
AVT	C	-0.51%
DD	D	-0.51%
CALM	A	-0.51%
DLB	B	-0.51%
DINO	D	-0.51%
HIG	B	-0.51%
FNF	B	-0.51%
LKQ	D	-0.51%
OXM	D	-0.51%
MDT	D	-0.51%
RTX	C	-0.5%
POWI	D	-0.5%
NYT	C	-0.5%
DVN	F	-0.5%
FE	C	-0.5%
CCOI	B	-0.5%
SNX	C	-0.5%
PFG	D	-0.5%
RGLD	C	-0.5%
BG	F	-0.5%
D	C	-0.5%
MTG	C	-0.5%
AFL	B	-0.5%
OMC	C	-0.49%
CHE	D	-0.49%
BBY	D	-0.49%
PPG	F	-0.49%
SON	D	-0.49%
FLO	D	-0.49%
EMN	D	-0.49%
QCOM	F	-0.49%
HRL	D	-0.49%
CAG	D	-0.48%
LYB	F	-0.48%
AOS	F	-0.48%
WEN	D	-0.48%
ADI	D	-0.48%
RPRX	D	-0.48%
LEA	D	-0.48%
WU	D	-0.48%
SHOO	D	-0.47%
LEN	D	-0.47%
CI	F	-0.47%
ADM	D	-0.47%
KDP	D	-0.46%
ASH	D	-0.46%
FMC	D	-0.46%
HAS	D	-0.46%
KHC	F	-0.46%
IPG	D	-0.45%
SWKS	F	-0.45%
GPC	D	-0.45%
DHR	F	-0.45%
ESNT	D	-0.45%
HUN	F	-0.44%
MAN	D	-0.44%
DOW	F	-0.44%
PFE	D	-0.44%
INSW	F	-0.44%
PII	D	-0.43%
ELV	F	-0.43%
CVI	F	-0.42%
CRI	D	-0.41%
NEM	D	-0.38%
SCCO	F	-0.0%