FDLO vs. USMV ETF Comparison

Comparison of Fidelity Low Volatility Factor ETF (FDLO) to iShares MSCI USA Minimum Volatility ETF (USMV)

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

USMV

iShares MSCI USA Minimum Volatility ETF

USMV Description

The investment seeks the investment results of an index composed of U.S. equities that, in the aggregate, have lower volatility characteristics relative to the broader U.S. equity market. The fund generally invests at least 90% of its assets in securities of the underlying index or in depositary receipts representing securities in the underlying index. The underlying index follows a rules-based methodology to determine weights for securities in the index that seeks to minimize total risk of the MSCI USA Index. Components primarily include consumer staples, healthcare and information technology companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$93.46

Average Daily Volume

1,630,912

Number of Holdings ^*

170

* may have additional holdings in another (foreign) market

Performance

Period	FDLO	USMV
30 Days	0.81%	1.70%
60 Days	1.49%	2.42%
90 Days	4.05%	4.02%
12 Months	21.68%	25.63%

79 Overlapping Holdings

Symbol	Grade	Weight in FDLO	Weight in USMV	Overlap
AAPL	C	7.26%	0.99%	0.99%
ABBV	D	0.98%	1.04%	0.98%
ABT	B	0.9%	0.09%	0.09%
ACN	C	1.6%	1.29%	1.29%
ADP	B	0.66%	0.09%	0.09%
AEE	A	0.26%	0.24%	0.24%
AEP	D	0.28%	0.39%	0.28%
AIZ	A	0.61%	0.32%	0.32%
AJG	B	0.61%	1.27%	0.61%
AKAM	D	1.03%	0.39%	0.39%
AMGN	D	0.71%	0.59%	0.59%
AMZN	C	3.92%	0.14%	0.14%
AZO	C	0.47%	0.98%	0.47%
BAH	F	0.43%	0.39%	0.39%
BDX	F	0.6%	0.56%	0.56%
BRK.A	B	2.13%	1.55%	1.55%
CB	C	0.72%	1.47%	0.72%
CBOE	B	0.55%	0.85%	0.55%
CL	D	0.35%	0.41%	0.35%
CMCSA	B	0.95%	0.39%	0.39%
CME	A	0.69%	0.53%	0.53%
CMS	C	0.24%	0.19%	0.19%
CSCO	B	1.77%	1.47%	1.47%
CTVA	C	0.2%	0.38%	0.2%
CVX	A	0.69%	0.34%	0.34%
DUK	C	0.35%	1.49%	0.35%
EA	A	0.72%	0.89%	0.72%
ED	D	0.25%	1.13%	0.25%
EOG	A	0.32%	0.17%	0.17%
ERIE	D	0.45%	0.42%	0.42%
GD	F	0.49%	0.05%	0.05%
GIS	D	0.28%	0.66%	0.28%
GRMN	B	0.51%	0.33%	0.33%
HD	A	1.19%	0.3%	0.3%
HON	B	0.7%	0.25%	0.25%
HSY	F	0.24%	0.3%	0.24%
IBM	C	1.54%	1.66%	1.54%
JNJ	D	1.18%	1.18%	1.18%
KMB	D	0.3%	0.21%	0.21%
KO	D	0.66%	0.1%	0.1%
LIN	D	0.53%	0.16%	0.16%
LLY	F	1.57%	1.25%	1.25%
LMT	D	0.58%	0.82%	0.58%
MA	C	1.34%	0.7%	0.7%
MCD	D	0.8%	1.25%	0.8%
MDLZ	F	0.37%	0.44%	0.37%
MMC	B	0.67%	1.11%	0.67%
MRK	F	0.88%	1.01%	0.88%
MSFT	F	6.93%	1.34%	1.34%
MSI	B	1.49%	1.81%	1.49%
NOC	D	0.5%	1.43%	0.5%
ORCL	B	2.01%	1.31%	1.31%
ORLY	B	0.53%	0.68%	0.53%
OTIS	C	0.47%	0.07%	0.07%
PEP	F	0.62%	1.01%	0.62%
PG	A	0.99%	1.23%	0.99%
PGR	A	0.84%	1.67%	0.84%
PKG	A	0.19%	0.2%	0.19%
REGN	F	0.5%	0.59%	0.5%
ROP	B	1.21%	1.3%	1.21%
RSG	A	0.47%	1.55%	0.47%
SO	D	0.37%	1.35%	0.37%
T	A	0.99%	0.74%	0.74%
TJX	A	0.65%	0.45%	0.45%
TMUS	B	0.97%	1.95%	0.97%
TRV	B	0.69%	1.15%	0.69%
TXN	C	1.48%	1.39%	1.39%
UNH	C	1.55%	1.34%	1.34%
V	A	1.47%	0.9%	0.9%
VRSN	F	1.08%	0.64%	0.64%
VRTX	F	0.69%	0.69%	0.69%
VZ	C	0.93%	1.35%	0.93%
WEC	A	0.27%	0.78%	0.27%
WM	A	0.55%	1.44%	0.55%
WMB	A	0.34%	0.31%	0.31%
WMT	A	0.95%	1.78%	0.95%
WRB	A	0.56%	0.31%	0.31%
XEL	A	0.3%	0.46%	0.3%
XOM	B	1.17%	0.45%	0.45%

FDLO Overweight 46 Positions Relative to USMV

Symbol	Grade	Weight
GOOGL	C	4.12%
JPM	A	1.89%
TYL	B	1.19%
DOX	D	1.08%
TMO	F	0.78%
ETN	A	0.72%
LOW	D	0.71%
SBUX	A	0.7%
UNP	C	0.63%
PM	B	0.62%
FDS	B	0.59%
ITW	B	0.56%
NKE	D	0.56%
FAST	B	0.54%
JKHY	D	0.51%
PAYX	C	0.51%
LHX	C	0.49%
TSCO	D	0.46%
COP	C	0.41%
J	F	0.39%
FCN	D	0.34%
EQIX	A	0.31%
SHW	A	0.3%
KMI	A	0.3%
HII	D	0.29%
AMT	D	0.29%
LNG	B	0.28%
APD	A	0.27%
DLR	B	0.26%
PSA	D	0.25%
ECL	D	0.24%
DTM	B	0.23%
O	D	0.22%
CCI	D	0.21%
VMC	B	0.2%
MLM	B	0.19%
CTRA	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%
ATR	B	0.16%
AMCR	D	0.15%
AVY	D	0.14%

FDLO Underweight 91 Positions Relative to USMV

Symbol	Grade	Weight
WCN	A	-1.56%
APH	A	-1.44%
MCK	B	-1.35%
AVGO	D	-1.19%
GDDY	A	-1.0%
GILD	C	-0.94%
FCNCA	A	-0.88%
K	A	-0.8%
CTSH	B	-0.76%
NOW	A	-0.75%
TSN	B	-0.71%
FI	A	-0.69%
ACGL	D	-0.68%
COR	B	-0.67%
NVDA	C	-0.67%
KR	B	-0.61%
FICO	B	-0.59%
KDP	D	-0.59%
TDY	B	-0.57%
KEYS	A	-0.55%
FANG	D	-0.55%
FFIV	B	-0.55%
MPC	D	-0.54%
INCY	C	-0.53%
AON	A	-0.53%
PTC	A	-0.52%
ELV	F	-0.52%
YUM	B	-0.5%
BMY	B	-0.49%
NEM	D	-0.46%
UBER	D	-0.45%
JNPR	F	-0.45%
WDAY	B	-0.43%
EG	C	-0.43%
VRSK	A	-0.42%
CHD	B	-0.4%
HUM	C	-0.4%
KHC	F	-0.38%
WTW	B	-0.38%
ROL	B	-0.36%
IT	C	-0.35%
AFG	A	-0.35%
GEN	B	-0.35%
CDW	F	-0.35%
MKL	A	-0.34%
CPB	D	-0.33%
NBIX	C	-0.32%
GLW	B	-0.31%
FWONK	B	-0.31%
ANET	C	-0.29%
ICE	C	-0.28%
L	A	-0.28%
HUBS	A	-0.24%
ADI	D	-0.23%
D	C	-0.23%
AZPN	A	-0.23%
ALNY	D	-0.22%
NTAP	C	-0.22%
BMRN	D	-0.22%
HRL	D	-0.21%
CI	F	-0.21%
TW	A	-0.2%
DTE	C	-0.2%
PFE	D	-0.2%
DPZ	C	-0.19%
CRWD	B	-0.19%
CDNS	B	-0.18%
MELI	D	-0.18%
MOH	F	-0.18%
SNPS	B	-0.18%
HOLX	D	-0.16%
STX	D	-0.16%
GOOG	C	-0.16%
UTHR	C	-0.14%
MDT	D	-0.13%
DELL	C	-0.12%
HIG	B	-0.12%
OXY	D	-0.12%
DGX	A	-0.11%
LNT	A	-0.1%
RTX	C	-0.09%
TEL	B	-0.07%
ATO	A	-0.06%
PSX	C	-0.06%
FSLR	F	-0.06%
KNX	B	-0.06%
VLO	C	-0.05%
BR	A	-0.05%
CRM	B	-0.05%
ULTA	F	-0.04%
CVS	D	-0.04%