FENI vs. RAVI ETF Comparison

Comparison of Fidelity Enhanced International ETF (FENI) to FlexShares Ready Access Variable Income Fund (RAVI)

FENI

Fidelity Enhanced International ETF

FENI Description

The fund will normally invest at least 80% of assets in common stocks included in the MSCI EAFE Index, which is a market capitalization-weighted index that is designed to measure the investable equity market performance for global investors in developed markets, excluding the U.S. & Canada. The adviser will generally use computer-aided, quantitative analysis of historical valuation, growth, profitability, and other factors to select a broadly diversified group of stocks that may have the potential to provide a higher total return than that of the index.

Grade (RS Rating)

Last Trade

$27.96

Average Daily Volume

173,928

Number of Holdings ^*

* may have additional holdings in another (foreign) market

RAVI

FlexShares Ready Access Variable Income Fund

RAVI Description

The investment seeks maximum current income consistent with the preservation of capital and liquidity. The fund seeks to achieve the investment objective by investing at least 65% of its total assets in a non-diversified portfolio of fixed income instruments, including bonds, debt securities and other similar instruments issued by U.S. and non-U.S. public and private sector entities. The dollar-weighted average portfolio maturity of the fund is normally not expected to exceed two years. It may invest up to 20% of its total assets in fixed income securities and instruments of issuers in emerging markets. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$75.43

Average Daily Volume

74,707

Number of Holdings ^*

101

* may have additional holdings in another (foreign) market

Performance

Period	FENI	RAVI
30 Days	-4.05%	0.38%
60 Days	-5.67%	0.67%
90 Days	-6.17%	1.22%
12 Months	13.11%	5.43%

6 Overlapping Holdings

Symbol	Grade	Weight in FENI	Weight in RAVI	Overlap
ABBV	F	0.79%	0.13%	0.13%
ABBV	F	0.28%	0.13%	0.13%
AZN	F	0.08%	0.15%	0.08%
HSBC	A	0.42%	0.29%	0.29%
MUFG	B	0.57%	0.14%	0.14%
NWG	A	0.11%	0.15%	0.11%

FENI Overweight 25 Positions Relative to RAVI

Symbol	Grade	Weight
NVS	F	1.58%
SONY	B	1.21%
HSBH	B	1.06%
SE	A	0.79%
BTI	B	0.76%
NMR	B	0.66%
WIX	A	0.58%
TM	F	0.56%
UL	D	0.56%
QGEN	D	0.53%
GSK	F	0.48%
UL	D	0.48%
RIO	D	0.48%
VOD	F	0.3%
SNY	F	0.28%
RELX	D	0.23%
GMAB	F	0.22%
NOK	D	0.21%
BBVA	D	0.14%
LYG	D	0.12%
BCS	A	0.12%
NVS	F	0.12%
LOGI	D	0.07%
SMFG	B	0.03%
CCEP	C	0.02%

FENI Underweight 96 Positions Relative to RAVI

Symbol	Grade	Weight
VLO	C	-1.51%
ED	C	-1.05%
OGS	A	-1.05%
OTIS	C	-0.95%
PYPL	B	-0.95%
KDP	F	-0.95%
DHR	F	-0.86%
LYB	F	-0.83%
DTE	C	-0.77%
GE	D	-0.76%
TSN	B	-0.7%
WM	B	-0.69%
CI	D	-0.67%
CM	A	-0.62%
GP	F	-0.59%
GILD	C	-0.59%
TFC	A	-0.59%
AIG	B	-0.57%
SJM	D	-0.57%
NEE	C	-0.57%
BAC	A	-0.57%
AZO	C	-0.52%
NVDA	B	-0.52%
BNS	A	-0.52%
D	C	-0.51%
BDX	F	-0.51%
TD	D	-0.51%
RY	A	-0.51%
SYK	B	-0.49%
CCI	C	-0.49%
AON	A	-0.46%
UNH	B	-0.43%
BMY	B	-0.43%
AMZN	C	-0.42%
SCHW	B	-0.42%
CRM	B	-0.4%
VFC	C	-0.39%
OGE	A	-0.39%
ETR	B	-0.38%
AEP	C	-0.38%
CVX	A	-0.33%
NDAQ	A	-0.31%
ARCC	A	-0.3%
T	A	-0.3%
CFG	B	-0.29%
MLM	C	-0.28%
DELL	B	-0.28%
CMCSA	B	-0.28%
DB	D	-0.28%
CP	F	-0.27%
WFC	A	-0.26%
CAT	B	-0.26%
CLX	A	-0.26%
LEN	D	-0.26%
SO	C	-0.26%
ATHS	D	-0.26%
GS	A	-0.26%
AL	B	-0.25%
C	A	-0.24%
CMS	C	-0.24%
FIS	C	-0.23%
MCHP	F	-0.22%
FITB	B	-0.22%
PPL	A	-0.22%
FOXA	A	-0.21%
NYC	D	-0.21%
CNP	A	-0.2%
SBUX	A	-0.18%
LUV	C	-0.18%
MKC	C	-0.17%
AEE	A	-0.17%
BHF	C	-0.17%
CVS	D	-0.16%
KEY	B	-0.16%
SEB	F	-0.16%
UBS	B	-0.16%
PSX	C	-0.16%
BA	F	-0.15%
ICE	C	-0.15%
MET	A	-0.13%
DHI	F	-0.13%
AMT	C	-0.13%
CNH	C	-0.13%
HPE	B	-0.11%
EFX	F	-0.1%
GM	C	-0.1%
VZ	C	-0.1%
MDLZ	F	-0.09%
R	B	-0.08%
HRL	D	-0.07%
ROP	B	-0.07%
DUK	C	-0.07%
COF	C	-0.06%
MS	A	-0.06%
PCAR	B	-0.05%
JPM	A	-0.03%