FENY vs. QVAL ETF Comparison

Comparison of Fidelity MSCI Energy Index ETF (FENY) to ValueShares U.S. Quantitative Value ETF (QVAL)

FENY

Fidelity MSCI Energy Index ETF

FENY Description

The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Energy Index. Investing at least 80% of assets in securities included in the fund's underlying index. The fund's underlying index is the MSCI USA IMI Energy Index, which represents the performance of the energy sector in the U.S. equity market. It may or may not hold all of the securities in the MSCI USA IMI Energy Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$26.91

Average Daily Volume

726,110

Number of Holdings ^*

* may have additional holdings in another (foreign) market

QVAL

ValueShares U.S. Quantitative Value ETF

QVAL Description

The investment seeks long-term capital appreciation. The fund is an actively managed ETF. Under normal circumstances, it seeks to achieve its investment objective by investing primarily in U.S. equity securities that the Adviser believes, based on quantitative analysis, are undervalued at the time of purchase and have the potential for capital appreciation. The fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in securities of U.S. companies. It will invest primarily in the exchange-listed common stock of U.S. companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$46.73

Average Daily Volume

18,437

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FENY	QVAL
30 Days	9.48%	4.01%
60 Days	9.84%	2.30%
90 Days	9.26%	4.43%
12 Months	19.25%	26.73%

5 Overlapping Holdings

Symbol	Grade	Weight in FENY	Weight in QVAL	Overlap
BKR	B	2.1%	2.26%	2.1%
FTI	A	0.62%	2.15%	0.62%
HES	B	1.95%	2.14%	1.95%
SM	B	0.27%	2.06%	0.27%
WFRD	D	0.31%	2.07%	0.31%

FENY Overweight 93 Positions Relative to QVAL

Symbol	Grade	Weight
XOM	B	21.92%
CVX	A	13.78%
COP	C	6.39%
EOG	A	3.78%
WMB	A	3.28%
OKE	A	3.05%
SLB	C	3.0%
MPC	D	2.86%
PSX	C	2.72%
KMI	A	2.59%
LNG	B	2.39%
VLO	C	2.27%
TRGP	B	1.98%
FANG	D	1.69%
OXY	D	1.64%
TPL	A	1.33%
HAL	C	1.3%
DVN	F	1.22%
EQT	B	1.21%
CTRA	B	0.94%
MRO	B	0.83%
OVV	B	0.6%
DTM	B	0.5%
AR	B	0.46%
CHRD	D	0.42%
RRC	B	0.42%
APA	D	0.42%
PR	B	0.41%
MTDR	B	0.36%
DINO	D	0.35%
NOV	C	0.33%
CNX	A	0.32%
CHX	C	0.31%
AM	A	0.29%
MUR	D	0.26%
MGY	A	0.25%
WHD	B	0.24%
CRC	B	0.21%
NOG	A	0.21%
CIVI	D	0.21%
CEIX	A	0.21%
BTU	B	0.2%
ENLC	A	0.2%
AROC	B	0.2%
PAGP	A	0.2%
HESM	B	0.2%
HP	B	0.19%
PTEN	C	0.18%
PBF	D	0.18%
VAL	D	0.18%
RIG	D	0.18%
UEC	B	0.18%
LBRT	D	0.16%
OII	B	0.16%
CRGY	B	0.15%
GPOR	B	0.14%
KNTK	B	0.14%
KOS	F	0.12%
LEU	C	0.11%
WKC	D	0.11%
TALO	C	0.11%
WTTR	B	0.1%
HLX	B	0.1%
CRK	B	0.1%
INSW	F	0.1%
KRP	B	0.08%
NFE	D	0.08%
CLB	B	0.08%
DK	C	0.08%
AESI	B	0.07%
PARR	D	0.07%
LPG	F	0.07%
XPRO	F	0.07%
NEXT	B	0.07%
NBR	C	0.06%
TTI	C	0.06%
VTLE	C	0.06%
PUMP	B	0.06%
GPRE	F	0.06%
REX	D	0.06%
EE	A	0.06%
GRNT	B	0.05%
TDW	F	0.05%
EGY	D	0.05%
REPX	A	0.05%
RES	D	0.05%
CVI	F	0.05%
CLNE	D	0.05%
NR	B	0.05%
BRY	F	0.04%
VTOL	B	0.04%
SD	D	0.04%
HPK	B	0.04%

FENY Underweight 45 Positions Relative to QVAL

Symbol	Grade	Weight
TPR	B	-2.28%
UAL	A	-2.22%
MO	A	-2.19%
TAP	C	-2.18%
ALSN	B	-2.14%
FOXA	B	-2.12%
LRN	A	-2.12%
GTES	A	-2.11%
DAL	C	-2.1%
SNA	A	-2.1%
TGT	F	-2.07%
URBN	C	-2.06%
ANF	C	-2.05%
SIG	B	-2.02%
JBL	B	-2.02%
CTSH	B	-2.02%
TOL	B	-2.01%
MHK	D	-2.0%
HPQ	B	-2.0%
CMCSA	B	-1.99%
MMM	D	-1.99%
TEX	D	-1.99%
UTHR	C	-1.98%
WSM	B	-1.97%
CAT	B	-1.97%
HRB	D	-1.96%
CVS	D	-1.95%
GPK	C	-1.95%
BBY	D	-1.94%
DKS	C	-1.94%
LEN	D	-1.92%
CNH	C	-1.9%
ELV	F	-1.9%
THC	D	-1.89%
OMC	C	-1.89%
LYB	F	-1.88%
CNC	D	-1.87%
FCX	D	-1.87%
UHS	D	-1.87%
CRI	D	-1.85%
IPG	D	-1.8%
MAT	D	-1.78%
MOH	F	-1.76%
ASO	F	-1.76%
CROX	D	-1.7%