FFSM vs. FSST ETF Comparison

Comparison of Fidelity Fundamental Small-Mid Cap ETF (FFSM) to Fidelity Sustainability U.S. Equity ETF (FSST)

FFSM

Fidelity Fundamental Small-Mid Cap ETF

FFSM Description

FFSM discloses holdings only on a monthly basis with a 30-day lag. The fund actively selects global mid- and small-cap companies with both growth and value factors. The portfolio is selected using fundamental and quantitative analysis, considering factors such as issuer's financial health and industry position, as well as the overall economic condition. The fund has a Tracking Basket Structure in place, which acts as a proxy portfolio that includes some of the funds holdings from recent disclosure, significant portion of the funds holdings, and cash. This is designed to track the funds daily performance, facilitate arbitrage opportunities and help mitigate the risk of front-running. However, investors should note that its non-transparent structure could result in wider spreads. Before February 26, 2024, the fund traded as Fidelity Small-Mid Cap Opportunities ETF under the ticker FSMO.

Grade (RS Rating)

Last Trade

$24.69

Average Daily Volume

23,666

Number of Holdings ^*

158

* may have additional holdings in another (foreign) market

FSST

Fidelity Sustainability U.S. Equity ETF

FSST Description

FSST mainly invests in US companies that the fund adviser believes to have proven or improving sustainability practices. Evaluation of the companies impact characteristics may involve corporate engagement and its alignment with the United Nations Sustainable Development Goals using qualitative analysis as well as proprietary or third-party data. Their approach to sustainable investing not only considers ESG factors but fundamental ones as well, including financial conditions, industry positions, as well as market and economic conditions. Unlike other ETFs that disclose holdings on a daily basis, FSST publishes its full portfolio holdings monthly with a 30-day lag. A Tracking Basket Structure is in place which acts as a proxy portfolio and may include holdings from recent disclosures, other liquid ETFs as well as cash and cash equivalents in order to track the funds daily performance and facilitate arbitrage opportunities.

Grade (RS Rating)

Last Trade

$24.12

Average Daily Volume

2,365

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FFSM	FSST
30 Days	-5.83%	-4.48%
60 Days	-1.83%	-1.49%
90 Days	5.35%	5.39%
12 Months	20.03%	24.13%

8 Overlapping Holdings

Symbol	Grade	Weight in FFSM	Weight in FSST	Overlap
AYI	C	0.82%	1.33%	0.82%
DFS	A	0.86%	0.42%	0.42%
ICLR	D	0.12%	1.7%	0.12%
KBR	A	0.65%	1.68%	0.65%
LNG	D	0.84%	0.84%	0.84%
NOMD	C	0.48%	0.41%	0.41%
ON	D	0.7%	1.37%	0.7%
RRX	D	1.14%	0.82%	0.82%

FFSM Overweight 150 Positions Relative to FSST

Symbol	Grade	Weight
FTI	A	1.63%
TPX	C	1.58%
EME	A	1.51%
AZO	C	1.46%
AR	A	1.41%
VRT	A	1.4%
MOH	D	1.36%
CROX	C	1.26%
UHS	C	1.23%
ACGL	A	1.23%
XPO	D	1.21%
MUSA	B	1.2%
BJ	B	1.15%
PFGC	D	1.14%
ITT	B	1.12%
EXP	C	1.09%
USFD	C	1.06%
DKS	B	1.02%
FN	C	1.01%
PVH	D	1.0%
DOX	D	0.99%
LPLA	A	0.97%
NSIT	C	0.93%
WHD	B	0.92%
AIZ	C	0.88%
ATKR	B	0.88%
FAF	D	0.87%
ORI	A	0.86%
CHDN	A	0.84%
CACI	A	0.84%
VNT	C	0.83%
NXST	D	0.82%
AME	C	0.82%
JLL	C	0.81%
BC	D	0.8%
AIT	C	0.79%
ASGN	C	0.76%
SNX	A	0.75%
STX	C	0.73%
CRL	D	0.73%
GPK	D	0.72%
PRI	D	0.72%
GVA	A	0.71%
RGA	A	0.7%
MEDP	C	0.7%
BECN	A	0.7%
ACHC	D	0.67%
ALSN	B	0.67%
STLD	D	0.67%
ACM	B	0.66%
PNFP	D	0.66%
AEIS	D	0.66%
CMC	C	0.66%
SNV	D	0.65%
SN	A	0.65%
TGLS	A	0.64%
CNM	A	0.64%
PCG	A	0.64%
CC	B	0.63%
WBS	D	0.63%
G	F	0.63%
AES	A	0.6%
CAH	C	0.59%
DT	F	0.59%
HLI	B	0.59%
FCNCA	A	0.59%
MMS	D	0.58%
HOLX	D	0.57%
OLN	D	0.57%
CADE	B	0.57%
FSS	B	0.57%
RJF	B	0.56%
TENB	D	0.56%
CIEN	D	0.56%
KBH	C	0.55%
LPX	D	0.54%
VTR	A	0.54%
AFG	C	0.52%
ESI	C	0.52%
WTFC	C	0.52%
HAYW	C	0.52%
CBT	A	0.51%
MTSI	A	0.51%
EXLS	D	0.5%
OI	F	0.49%
LBRT	A	0.48%
LSCC	F	0.48%
BCO	A	0.46%
WSC	F	0.46%
LGIH	F	0.46%
EPRT	A	0.45%
EBC	D	0.44%
ASO	D	0.43%
LEA	D	0.43%
BOKF	A	0.43%
CHX	B	0.43%
LITE	D	0.41%
CACC	D	0.41%
CWK	C	0.4%
CNXC	F	0.39%
FBP	A	0.39%
FROG	C	0.38%
RUSHA	D	0.37%
FIBK	A	0.36%
OMI	C	0.35%
BOOT	A	0.35%
FLEX	B	0.35%
TMDX	A	0.34%
ESGR	B	0.34%
ICHR	C	0.34%
NOG	A	0.34%
DOOO	B	0.32%
LCII	F	0.32%
DIOD	B	0.31%
ARGX	D	0.31%
WST	D	0.31%
PGNY	F	0.3%
EAT	A	0.29%
ALGM	C	0.29%
PRO	D	0.29%
HELE	F	0.28%
RGEN	D	0.25%
MTB	A	0.25%
IBTX	F	0.24%
CSTM	D	0.23%
KFRC	D	0.22%
TEX	D	0.21%
PATK	D	0.21%
MDGL	D	0.2%
CRNX	A	0.18%
XPRO	D	0.18%
CYTK	D	0.16%
VCEL	C	0.15%
ECPG	F	0.14%
ACLX	D	0.13%
NUVL	C	0.13%
CLDX	D	0.13%
PCVX	D	0.11%
XENE	C	0.09%
AXSM	D	0.09%
LAUR	A	0.08%
TCBK	C	0.07%
PBH	B	0.07%
ARVN	D	0.07%
MORF	F	0.06%
VRNA	F	0.06%
TXG	D	0.05%
ZNTL	F	0.03%
KROS	D	0.02%
ALXO	A	0.01%

FFSM Underweight 63 Positions Relative to FSST

Symbol	Grade	Weight
MSFT	C	-7.95%
NVDA	B	-5.96%
AMZN	C	-3.93%
GOOGL	A	-3.56%
AAPL	F	-3.06%
MRK	A	-2.78%
PG	A	-2.71%
TRV	C	-2.7%
CRM	D	-2.49%
CI	A	-2.42%
DIS	C	-2.27%
ACN	D	-2.19%
DHR	B	-2.07%
MAR	C	-2.04%
MCO	C	-2.02%
MA	C	-2.01%
LIN	C	-1.98%
INTU	B	-1.94%
ADSK	F	-1.93%
AXP	A	-1.83%
AVY	B	-1.82%
LOW	D	-1.78%
PLD	F	-1.67%
BLK	C	-1.64%
CNC	C	-1.19%
BKR	B	-1.14%
CMCSA	F	-1.07%
NEE	A	-1.03%
VLTO	A	-0.99%
UPS	D	-0.98%
JCI	A	-0.96%
TPR	D	-0.95%
ZTS	D	-0.9%
TMHC	C	-0.87%
IR	B	-0.86%
CCK	B	-0.85%
NTRS	C	-0.83%
NFLX	D	-0.83%
DE	B	-0.81%
ACI	F	-0.8%
AMD	C	-0.75%
SFM	A	-0.74%
GILD	F	-0.69%
MAN	A	-0.64%
OXY	A	-0.61%
APTV	F	-0.59%
BAC	A	-0.56%
TGNA	F	-0.54%
NXPI	B	-0.52%
TKR	A	-0.51%
EL	B	-0.51%
ATGE	C	-0.5%
CWEN	A	-0.44%
FSLR	B	-0.43%
GNRC	A	-0.42%
DAR	F	-0.39%
TSLA	C	-0.3%
MRNA	A	-0.28%
GM	A	-0.23%
CVS	D	-0.22%
VRTX	D	-0.06%
IPG	F	-0.05%
ADBE	F	-0.02%