FDLO vs. PHEQ ETF Comparison

Comparison of Fidelity Low Volatility Factor ETF (FDLO) to Parametric Hedged Equity ETF (PHEQ)

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

PHEQ

Parametric Hedged Equity ETF

PHEQ Description

The fund seeks to provide capital appreciation by investing its net assets in equity securities of certain U.S. large capitalization companies that are constituents of the Solactive GBS US 500 at the time of purchase.

Grade (RS Rating)

Last Trade

$29.49

Average Daily Volume

19,326

Number of Holdings ^*

203

* may have additional holdings in another (foreign) market

Performance

Period	FDLO	PHEQ
30 Days	0.81%	1.99%
60 Days	1.49%	3.02%
90 Days	4.05%	3.86%
12 Months	21.68%	16.61%

50 Overlapping Holdings

Symbol	Grade	Weight in FDLO	Weight in PHEQ	Overlap
AAPL	C	7.26%	6.85%	6.85%
ABBV	D	0.98%	0.85%	0.85%
ABT	B	0.9%	0.6%	0.6%
AEE	A	0.26%	0.3%	0.26%
AKAM	D	1.03%	0.16%	0.16%
AMCR	D	0.15%	0.21%	0.15%
AMGN	D	0.71%	0.45%	0.45%
AMZN	C	3.92%	4.1%	3.92%
BAH	F	0.43%	0.12%	0.12%
BRK.A	B	2.13%	1.42%	1.42%
CMS	C	0.24%	0.31%	0.24%
CSCO	B	1.77%	0.79%	0.79%
CVX	A	0.69%	0.84%	0.69%
DOX	D	1.08%	0.09%	0.09%
EQR	B	0.18%	0.32%	0.18%
GOOGL	C	4.12%	2.28%	2.28%
HD	A	1.19%	1.15%	1.15%
IBM	C	1.54%	0.56%	0.56%
JNJ	D	1.18%	1.04%	1.04%
JPM	A	1.89%	1.73%	1.73%
KMB	D	0.3%	0.33%	0.3%
KO	D	0.66%	0.77%	0.66%
LIN	D	0.53%	0.67%	0.53%
LLY	F	1.57%	1.39%	1.39%
LMT	D	0.58%	0.58%	0.58%
LNG	B	0.28%	0.22%	0.22%
LOW	D	0.71%	0.57%	0.57%
MA	C	1.34%	1.14%	1.14%
MAA	B	0.18%	0.27%	0.18%
MRK	F	0.88%	0.69%	0.69%
MSFT	F	6.93%	6.55%	6.55%
ORCL	B	2.01%	0.73%	0.73%
OTIS	C	0.47%	0.33%	0.33%
PEP	F	0.62%	0.72%	0.62%
PG	A	0.99%	1.09%	0.99%
REGN	F	0.5%	0.21%	0.21%
RSG	A	0.47%	0.34%	0.34%
T	A	0.99%	0.68%	0.68%
TMO	F	0.78%	0.59%	0.59%
TMUS	B	0.97%	0.51%	0.51%
TRV	B	0.69%	0.39%	0.39%
TXN	C	1.48%	0.59%	0.59%
UNH	C	1.55%	1.37%	1.37%
UNP	C	0.63%	0.52%	0.52%
V	A	1.47%	1.28%	1.28%
VRTX	F	0.69%	0.36%	0.36%
WM	A	0.55%	0.44%	0.44%
WMT	A	0.95%	0.96%	0.95%
WRB	A	0.56%	0.21%	0.21%
XOM	B	1.17%	1.4%	1.17%

FDLO Overweight 75 Positions Relative to PHEQ

Symbol	Grade	Weight
ACN	C	1.6%
MSI	B	1.49%
ROP	B	1.21%
TYL	B	1.19%
VRSN	F	1.08%
CMCSA	B	0.95%
VZ	C	0.93%
PGR	A	0.84%
MCD	D	0.8%
EA	A	0.72%
CB	C	0.72%
ETN	A	0.72%
SBUX	A	0.7%
HON	B	0.7%
CME	A	0.69%
MMC	B	0.67%
ADP	B	0.66%
TJX	A	0.65%
PM	B	0.62%
AJG	B	0.61%
AIZ	A	0.61%
BDX	F	0.6%
FDS	B	0.59%
ITW	B	0.56%
NKE	D	0.56%
CBOE	B	0.55%
FAST	B	0.54%
ORLY	B	0.53%
JKHY	D	0.51%
PAYX	C	0.51%
GRMN	B	0.51%
NOC	D	0.5%
GD	F	0.49%
LHX	C	0.49%
AZO	C	0.47%
TSCO	D	0.46%
ERIE	D	0.45%
COP	C	0.41%
J	F	0.39%
SO	D	0.37%
MDLZ	F	0.37%
CL	D	0.35%
DUK	C	0.35%
WMB	A	0.34%
FCN	D	0.34%
EOG	A	0.32%
EQIX	A	0.31%
XEL	A	0.3%
SHW	A	0.3%
KMI	A	0.3%
HII	D	0.29%
AMT	D	0.29%
GIS	D	0.28%
AEP	D	0.28%
WEC	A	0.27%
APD	A	0.27%
DLR	B	0.26%
PSA	D	0.25%
ED	D	0.25%
HSY	F	0.24%
ECL	D	0.24%
DTM	B	0.23%
O	D	0.22%
CCI	D	0.21%
VMC	B	0.2%
CTVA	C	0.2%
PKG	A	0.19%
MLM	B	0.19%
CTRA	B	0.19%
CSGP	D	0.18%
ADC	B	0.16%
AMH	D	0.16%
ELS	C	0.16%
ATR	B	0.16%
AVY	D	0.14%

FDLO Underweight 153 Positions Relative to PHEQ

Symbol	Grade	Weight
NVDA	C	-7.12%
META	D	-2.66%
TSLA	B	-1.91%
GOOG	C	-1.9%
AVGO	D	-1.71%
COST	B	-1.07%
BAC	A	-0.98%
NFLX	A	-0.8%
WFC	A	-0.67%
CRM	B	-0.63%
NOW	A	-0.61%
ISRG	A	-0.58%
DIS	B	-0.57%
AXP	A	-0.57%
CAT	B	-0.55%
AMD	F	-0.51%
MDT	D	-0.51%
BMY	B	-0.48%
ADBE	C	-0.48%
TRGP	B	-0.46%
KKR	A	-0.46%
DE	A	-0.44%
MMM	D	-0.44%
CTAS	B	-0.42%
ETR	B	-0.4%
DAL	C	-0.39%
MS	A	-0.39%
BKNG	A	-0.39%
PRU	A	-0.37%
PLTR	B	-0.36%
HWM	A	-0.36%
AVB	B	-0.35%
SCHW	B	-0.35%
PPL	B	-0.34%
KLAC	D	-0.34%
K	A	-0.34%
LNT	A	-0.33%
DOV	A	-0.33%
YUM	B	-0.33%
QCOM	F	-0.33%
HIG	B	-0.33%
EXR	D	-0.32%
BA	F	-0.32%
ROST	C	-0.32%
MU	D	-0.31%
LH	C	-0.31%
BRO	B	-0.31%
HBAN	A	-0.31%
DTE	C	-0.31%
PANW	C	-0.3%
DRI	B	-0.3%
COR	B	-0.3%
PHM	D	-0.3%
APO	B	-0.3%
UBER	D	-0.29%
DOC	D	-0.29%
LRCX	F	-0.29%
CNP	B	-0.28%
AME	A	-0.28%
PYPL	B	-0.28%
SYF	B	-0.27%
CFG	B	-0.26%
MRVL	B	-0.25%
MELI	D	-0.25%
LII	A	-0.25%
ARES	A	-0.25%
GLW	B	-0.25%
MRO	B	-0.24%
L	A	-0.24%
FE	C	-0.24%
NDAQ	A	-0.24%
URI	B	-0.24%
JBHT	C	-0.24%
RMD	C	-0.24%
FANG	D	-0.24%
MKL	A	-0.23%
NEM	D	-0.23%
ULTA	F	-0.23%
EXPD	D	-0.23%
LYB	F	-0.22%
HEI	B	-0.22%
SSNC	B	-0.21%
ARE	D	-0.21%
LULU	C	-0.21%
PFG	D	-0.2%
MSTR	C	-0.2%
ESS	B	-0.19%
SPOT	B	-0.19%
TTD	B	-0.18%
ZM	B	-0.18%
PPG	F	-0.18%
WBD	C	-0.18%
CPB	D	-0.18%
CSL	C	-0.18%
CRWD	B	-0.17%
CAG	D	-0.17%
DVN	F	-0.17%
IFF	D	-0.16%
HAL	C	-0.16%
ABNB	C	-0.15%
MOH	F	-0.14%
APTV	D	-0.14%
NDSN	B	-0.14%
HEI	B	-0.14%
ZBH	C	-0.14%
ON	D	-0.14%
DELL	C	-0.14%
HUBS	A	-0.14%
MGM	D	-0.13%
WDAY	B	-0.13%
DASH	A	-0.13%
HUBB	B	-0.13%
DDOG	A	-0.13%
ALNY	D	-0.13%
FCNCA	A	-0.13%
SQ	B	-0.12%
RBLX	C	-0.12%
COIN	C	-0.12%
TW	A	-0.11%
STLD	B	-0.11%
IBKR	A	-0.11%
VRT	B	-0.1%
VEEV	C	-0.1%
SUI	D	-0.1%
TRU	D	-0.09%
BLDR	D	-0.08%
ZS	C	-0.08%
NET	B	-0.07%
SCCO	F	-0.07%
AGR	B	-0.07%
YUMC	C	-0.07%
DKNG	B	-0.07%
SNOW	C	-0.06%
ALGN	D	-0.06%
AVTR	F	-0.06%
TEAM	A	-0.06%
SNAP	C	-0.05%
LPLA	A	-0.05%
CE	F	-0.05%
OWL	A	-0.05%
ILMN	D	-0.05%
OKTA	C	-0.04%
WLK	D	-0.04%
BSY	D	-0.04%
RPRX	D	-0.04%
CPNG	D	-0.03%
PINS	D	-0.03%
SIRI	C	-0.03%
ENPH	F	-0.03%
RKT	F	-0.03%
WSM	B	-0.02%
WMG	C	-0.02%
MRNA	F	-0.01%