FFLV vs. COWS ETF Comparison

Comparison of Fidelity Fundamental Large Cap Value ETF (FFLV) to Amplify Cash Flow Dividend Leaders ETF (COWS)

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

$23.11

Average Daily Volume

884

Number of Holdings ^*

108

* may have additional holdings in another (foreign) market

COWS

Amplify Cash Flow Dividend Leaders ETF

COWS Description

COWS is an index tracking fund utilizing a replication strategy. The index strategy aims to invest in US stocks of companies perceived to be stable and pay dividends. The starting investment universe considers the 1000 most liquid US-listed companies, excluding the financial sector. Filtering this universe, the 100 highest ranked free cash flow yielding stocks, as measured by equally weighting the stocks average trailing and forward cash flow yield. Companies with no forward estimates for free cash flow yields or earnings are removed. The investment universe is then filtered to identify dividend paying stocks with three years of uninterrupted dividend growth. Stocks with a payout ratio greater than 75% are eliminated. The top 10% of dividend yielding stocks are selected for the index. This process results in 40-100 stocks being selected and initially equally weighted in the index. Industry exposure is capped at 24%. Index holdings are reconstituted and rebalanced on a quarterly basis.

Grade (RS Rating)

Last Trade

$31.69

Average Daily Volume

6,514

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FFLV	COWS
30 Days	4.61%	8.32%
60 Days	5.50%	7.64%
90 Days	6.74%	8.17%
12 Months		29.39%

12 Overlapping Holdings

Symbol	Grade	Weight in FFLV	Weight in COWS	Overlap
ALSN	B	1.38%	2.03%	1.38%
BC	C	0.58%	2.42%	0.58%
CMCSA	B	2.31%	2.56%	2.31%
CSCO	B	3.48%	1.34%	1.34%
FDX	B	1.7%	2.31%	1.7%
G	B	0.26%	2.68%	0.26%
IPG	D	0.42%	1.23%	0.42%
NXST	C	0.22%	1.86%	0.22%
OLN	D	0.33%	1.45%	0.33%
TKR	D	0.99%	2.13%	0.99%
TPR	B	0.17%	2.21%	0.17%
VST	B	0.46%	4.0%	0.46%

FFLV Overweight 96 Positions Relative to COWS

Symbol	Grade	Weight
XOM	B	4.54%
JPM	A	4.36%
WFC	A	3.09%
HIG	B	2.6%
BAC	A	2.34%
UNH	C	2.23%
TRV	B	2.2%
JNJ	D	2.03%
ELV	F	1.96%
KVUE	A	1.95%
JCI	C	1.84%
PLD	D	1.66%
CI	F	1.59%
EIX	B	1.58%
USFD	A	1.49%
PCG	A	1.49%
APO	B	1.37%
WELL	A	1.32%
SJM	D	1.24%
CVS	D	1.21%
AZN	D	1.09%
BRK.A	B	1.04%
WLK	D	1.01%
RJF	A	1.01%
CNC	D	0.96%
MCHP	D	0.94%
SRE	A	0.89%
COR	B	0.88%
MRK	F	0.88%
AFG	A	0.87%
TSM	B	0.86%
TRGP	B	0.84%
DOX	D	0.84%
GEN	B	0.83%
GPK	C	0.82%
KDP	D	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	D	0.65%
LW	C	0.65%
SNX	C	0.61%
BCO	D	0.6%
WCC	B	0.58%
XPO	B	0.58%
LOW	D	0.58%
KO	D	0.57%
CG	A	0.56%
AES	F	0.54%
ALLY	C	0.54%
CEG	D	0.52%
KEY	B	0.52%
HPQ	B	0.47%
SW	A	0.47%
UFPI	B	0.46%
GMS	B	0.46%
GPN	B	0.44%
LAD	A	0.43%
APTV	D	0.39%
FAF	A	0.38%
GTES	A	0.38%
DOOO	F	0.37%
LPX	B	0.36%
HRI	B	0.32%
CC	C	0.31%
AAP	C	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%
BG	F	0.25%
OMF	A	0.24%
PM	B	0.22%
VSTS	C	0.22%
CIEN	B	0.22%
TEX	D	0.21%
AR	B	0.2%
COMP	B	0.2%
SIG	B	0.2%
SNY	F	0.17%
CCI	D	0.14%
MOH	F	0.13%
EWBC	A	0.13%
FCNCA	A	0.12%
WBS	A	0.11%
FTRE	D	0.07%

FFLV Underweight 41 Positions Relative to COWS

Symbol	Grade	Weight
SNA	A	-2.95%
OC	A	-2.76%
MRO	B	-2.49%
CF	B	-2.48%
SLB	C	-2.48%
HAL	C	-2.43%
FNF	B	-2.35%
EBAY	D	-2.3%
WSM	B	-2.17%
BMY	B	-2.07%
PARA	C	-2.02%
SM	B	-2.02%
PVH	C	-1.95%
PTEN	C	-1.93%
VLO	C	-1.89%
SWKS	F	-1.84%
BEN	C	-1.8%
BBWI	D	-1.75%
NOV	C	-1.74%
PR	B	-1.74%
MGY	A	-1.73%
MUR	D	-1.72%
MTDR	B	-1.67%
GAP	C	-1.67%
ASO	F	-1.63%
T	A	-1.6%
MCK	B	-1.48%
DVN	F	-1.48%
VNT	B	-1.46%
TMUS	B	-1.43%
DNB	B	-1.43%
AYI	B	-1.4%
BWA	D	-1.37%
AEO	F	-1.33%
LEA	D	-1.33%
RL	B	-1.29%
OGN	D	-1.29%
OSK	B	-1.27%
INGR	B	-1.25%
SAIC	F	-1.19%
ENS	D	-1.12%