FFLV vs. BUSA ETF Comparison

Comparison of Fidelity Fundamental Large Cap Value ETF (FFLV) to Brandes U.S. Value ETF (BUSA)

FFLV

Fidelity Fundamental Large Cap Value ETF

FFLV Description

The fund will normally invest at least 80% of the fund"s assets in equity securities of companies with large market capitalizations (which, for purposes of this fund, are those companies with market capitalizations similar to companies in the Russell 1000® Index or the S&P 500® Index). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$22.94

Average Daily Volume

878

Number of Holdings ^*

108

* may have additional holdings in another (foreign) market

BUSA

Brandes U.S. Value ETF

BUSA Description

The fund is an actively managed exchange-traded fund ("ETF") that seeks to attain its investment objective by investing primarily in equity securities of U.S. companies. Under normal market conditions, the fund will invest at least 80% of its net assets (plus any borrowings for investment purposes), measured at the time of purchase, in securities of U.S. companies.

Grade (RS Rating)

Last Trade

$33.62

Average Daily Volume

24,976

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FFLV	BUSA
30 Days	3.62%	3.82%
60 Days	5.11%	5.79%
90 Days	5.96%	5.90%
12 Months		28.77%

17 Overlapping Holdings

Symbol	Grade	Weight in FFLV	Weight in BUSA	Overlap
BAC	A	2.34%	2.86%	2.34%
BRK.A	B	1.04%	0.98%	0.98%
CI	D	1.59%	2.26%	1.59%
CMCSA	B	2.31%	2.48%	2.31%
CSCO	B	3.48%	1.06%	1.06%
CVS	D	1.21%	1.19%	1.19%
DOX	D	0.84%	2.34%	0.84%
FDX	B	1.7%	2.24%	1.7%
GTES	A	0.38%	1.01%	0.38%
JCI	B	1.84%	0.87%	0.87%
JNJ	C	2.03%	1.77%	1.77%
JPM	A	4.36%	2.2%	2.2%
KVUE	A	1.95%	1.53%	1.53%
MRK	D	0.88%	1.92%	0.88%
OMF	A	0.24%	1.02%	0.24%
SNY	F	0.17%	1.96%	0.17%
WFC	A	3.09%	2.9%	2.9%

FFLV Overweight 91 Positions Relative to BUSA

Symbol	Grade	Weight
XOM	B	4.54%
HIG	B	2.6%
UNH	B	2.23%
TRV	B	2.2%
ELV	F	1.96%
PLD	F	1.66%
EIX	B	1.58%
USFD	A	1.49%
PCG	A	1.49%
ALSN	B	1.38%
APO	B	1.37%
WELL	A	1.32%
SJM	D	1.24%
AZN	F	1.09%
WLK	D	1.01%
RJF	A	1.01%
TKR	D	0.99%
CNC	D	0.96%
MCHP	F	0.94%
SRE	A	0.89%
COR	B	0.88%
AFG	A	0.87%
TSM	B	0.86%
TRGP	A	0.84%
GEN	B	0.83%
GPK	C	0.82%
KDP	F	0.8%
UHAL	D	0.8%
CB	C	0.76%
ORI	A	0.75%
GDDY	A	0.7%
RRX	B	0.69%
LMT	D	0.68%
FLR	B	0.68%
TPX	B	0.67%
CNXC	F	0.67%
PSA	C	0.65%
LW	C	0.65%
SNX	D	0.61%
BCO	F	0.6%
WCC	B	0.58%
XPO	B	0.58%
LOW	C	0.58%
BC	C	0.58%
KO	D	0.57%
CG	B	0.56%
AES	F	0.54%
ALLY	C	0.54%
CEG	C	0.52%
KEY	B	0.52%
HPQ	B	0.47%
SW	A	0.47%
VST	A	0.46%
UFPI	C	0.46%
GMS	B	0.46%
GPN	B	0.44%
LAD	A	0.43%
IPG	D	0.42%
APTV	F	0.39%
FAF	A	0.38%
DOOO	F	0.37%
LPX	B	0.36%
OLN	F	0.33%
HRI	C	0.32%
CC	C	0.31%
AAP	D	0.31%
DAR	C	0.31%
HOG	D	0.3%
LITE	B	0.29%
SLM	A	0.28%
CPT	B	0.28%
MDU	D	0.27%
HRB	D	0.27%
UPBD	B	0.26%
G	B	0.26%
BG	D	0.25%
PM	B	0.22%
NXST	C	0.22%
VSTS	C	0.22%
CIEN	C	0.22%
TEX	F	0.21%
AR	B	0.2%
COMP	B	0.2%
SIG	B	0.2%
TPR	B	0.17%
CCI	C	0.14%
MOH	F	0.13%
EWBC	A	0.13%
FCNCA	A	0.12%
WBS	A	0.11%
FTRE	D	0.07%

FFLV Underweight 38 Positions Relative to BUSA

Symbol	Grade	Weight
FI	A	-3.53%
CVX	A	-3.36%
MCK	A	-3.11%
FLEX	B	-2.58%
PNC	B	-2.57%
GOOG	C	-2.41%
WTW	B	-2.4%
C	A	-2.38%
CTVA	C	-2.18%
HAL	C	-2.11%
EMR	B	-2.1%
CTSH	B	-2.06%
TXT	D	-2.05%
OMC	C	-2.04%
SSNC	B	-2.02%
PFE	F	-1.95%
BK	A	-1.95%
WRB	A	-1.91%
INGR	C	-1.69%
HCA	F	-1.68%
AIG	B	-1.61%
CAH	B	-1.57%
ETR	B	-1.55%
LH	B	-1.49%
ACGL	C	-1.44%
AZO	C	-1.43%
MU	D	-1.31%
STT	B	-1.28%
LKQ	F	-1.15%
WKC	C	-1.09%
KNX	C	-1.08%
TFC	A	-1.08%
SLB	C	-0.99%
SYY	D	-0.96%
GD	D	-0.91%
MHK	D	-0.83%
OTEX	F	-0.54%
QRVO	F	-0.5%