FFLV vs. TLTD ETF Comparison

Comparison of Fidelity Fundamental Large Cap Value ETF (FFLV) to FlexShares Morningstar Developed Markets ex-US Factor Tilt Index Fund (TLTD)

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

TLTD

FlexShares Morningstar Developed Markets ex-US Factor Tilt Index Fund

TLTD Description

The investment seeks investment results that correspond generally to the price and yield performance of the MorningstarÂ® Developed Markets ex-US Factor Tilt IndexSM. The fund generally will invest under normal circumstances at least 80% of total assets in the securities of the underlying index and in ADRs and GDRs based on the securities in the underlying index. The underlying index reflects the performance of a selection of equity securities designed to provide broad exposure to the global developed equities markets, excluding the U.S., with increased exposure to small-capitalization stocks and value stocks.

Grade (RS Rating)

Last Trade

$70.24

Average Daily Volume

8,881

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FFLV	TLTD
30 Days	3.62%	-2.89%
60 Days	5.11%	-4.79%
90 Days	5.96%	-5.02%
12 Months		12.46%

1 Overlapping Holdings

	Symbol	Grade	Weight in FFLV	Weight in TLTD	Overlap
	DOOO	F	0.37%	0.12%	0.12%

FFLV Overweight 107 Positions Relative to TLTD

Symbol	Grade	Weight
XOM	B	4.54%
JPM	A	4.36%
CSCO	B	3.48%
WFC	A	3.09%
HIG	B	2.6%
BAC	A	2.34%
CMCSA	B	2.31%
UNH	B	2.23%
TRV	B	2.2%
JNJ	C	2.03%
ELV	F	1.96%
KVUE	A	1.95%
JCI	B	1.84%
FDX	B	1.7%
PLD	F	1.66%
CI	D	1.59%
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%
CVS	D	1.21%
AZN	F	1.09%
BRK.A	B	1.04%
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%
MRK	D	0.88%
AFG	A	0.87%
TSM	B	0.86%
TRGP	A	0.84%
DOX	D	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%
GTES	A	0.38%
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%
OMF	A	0.24%
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%
SNY	F	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 45 Positions Relative to TLTD

Symbol	Grade	Weight
TM	F	-0.84%
HSBH	B	-0.68%
NVS	F	-0.58%
MUFG	B	-0.41%
UL	D	-0.41%
TD	D	-0.39%
SHOP	B	-0.38%
SONY	B	-0.32%
SMFG	B	-0.27%
ABBV	F	-0.25%
MFG	A	-0.24%
BCS	A	-0.2%
DEO	F	-0.18%
LYG	D	-0.18%
CNI	F	-0.17%
HMC	F	-0.17%
WCN	A	-0.14%
E	F	-0.14%
STLA	F	-0.12%
FLUT	A	-0.12%
GOLD	C	-0.08%
PDS	C	-0.06%
RBA	A	-0.05%
NMR	B	-0.05%
LOGI	D	-0.04%
BBUC	C	-0.04%
CCEP	C	-0.04%
AGCO	D	-0.03%
TAC	A	-0.03%
OTEX	F	-0.03%
QGEN	D	-0.03%
AEI	D	-0.02%
ECO	F	-0.02%
LSPD	C	-0.02%
WFG	C	-0.02%
DNN	B	-0.02%
FLNG	C	-0.01%
ELBM	D	-0.01%
MNTX	B	-0.01%
GOGL	F	-0.01%
ORLA	C	-0.01%
MBAVU	C	-0.01%
TIGO	D	-0.01%
RENB	F	-0.0%
TRMD	F	-0.0%