FHEQ vs. DFNV ETF Comparison

Comparison of Fidelity Hedged Equity ETF (FHEQ) to TrimTabs Donoghue Forlines Risk Managed Innovation ETF (DFNV)

FHEQ

Fidelity Hedged Equity ETF

FHEQ Description

FHEQ is actively managed, investing in equity securities with market caps similar to the S&P 500 and Russell 1000. The fund utilizes quantitative analysis and options for downside protection.

Grade (RS Rating)

Last Trade

$27.81

Average Daily Volume

24,615

Number of Holdings ^*

168

* may have additional holdings in another (foreign) market

DFNV

TrimTabs Donoghue Forlines Risk Managed Innovation ETF

DFNV Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the TrimTabs Donoghue Forlines Risk Managed Free Cash Flow Innovation Index. To pursue its investment objective, the fund invests, under normal market circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in component securities of the index. The index is designed to track the performance of a strategy that seeks to provide risk-managed exposure to U.S. publicly traded companies with strong free cash flow and strong research and development (R&D) investment

Grade (RS Rating)

Last Trade

$36.88

Average Daily Volume

20,590

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FHEQ	DFNV
30 Days	1.30%	5.72%
60 Days	3.66%	9.66%
90 Days	4.24%	12.32%
12 Months		39.55%

36 Overlapping Holdings

Symbol	Grade	Weight in FHEQ	Weight in DFNV	Overlap
AAPL	C	7.31%	7.79%	7.31%
ABBV	F	1.0%	2.59%	1.0%
ADBE	C	0.93%	2.35%	0.93%
ALRM	C	0.4%	0.21%	0.21%
AMGN	F	0.24%	1.6%	0.24%
AMZN	C	3.64%	0.2%	0.2%
ANET	C	0.08%	1.58%	0.08%
AVGO	D	1.49%	4.14%	1.49%
BMY	B	0.68%	1.99%	0.68%
CRM	B	1.09%	2.93%	1.09%
CRUS	D	0.06%	0.32%	0.06%
DASH	B	0.12%	1.53%	0.12%
DBX	B	0.51%	0.48%	0.48%
DOCU	B	0.18%	0.81%	0.18%
FTNT	C	0.24%	1.58%	0.24%
GEN	B	0.13%	0.68%	0.13%
GILD	C	0.73%	1.91%	0.73%
IGT	F	0.45%	0.25%	0.25%
JNJ	C	0.61%	2.45%	0.61%
LYFT	C	0.06%	0.48%	0.06%
MMM	D	0.22%	1.24%	0.22%
MSI	B	0.26%	1.52%	0.26%
NBIX	C	0.11%	0.53%	0.11%
NOW	A	0.34%	2.72%	0.34%
PEGA	B	0.16%	0.54%	0.16%
PLTK	B	0.1%	0.22%	0.1%
PYPL	B	0.54%	1.37%	0.54%
QCOM	F	0.84%	2.14%	0.84%
QRVO	F	0.11%	0.29%	0.11%
SOLV	D	0.12%	0.49%	0.12%
TDC	D	0.35%	0.2%	0.2%
TENB	C	0.06%	0.36%	0.06%
UBER	F	0.14%	1.83%	0.14%
VEEV	C	0.12%	1.04%	0.12%
WDAY	B	0.16%	1.17%	0.16%
ZM	C	0.52%	0.8%	0.52%

FHEQ Overweight 132 Positions Relative to DFNV

Symbol	Grade	Weight
NVDA	B	7.27%
MSFT	D	5.64%
META	D	2.87%
BRK.A	B	2.19%
GOOGL	C	2.02%
JPM	A	1.82%
GOOG	C	1.74%
XOM	B	1.54%
MA	B	1.34%
HD	B	1.32%
TSLA	B	1.26%
NFLX	A	1.26%
BAC	A	1.17%
PM	B	0.92%
PG	C	0.87%
CMCSA	B	0.83%
WMT	A	0.8%
CSCO	B	0.79%
LLY	F	0.76%
NEE	C	0.73%
UNP	C	0.73%
TJX	A	0.73%
AMAT	F	0.7%
MRK	D	0.69%
TT	A	0.69%
LMT	D	0.69%
T	A	0.67%
CTAS	B	0.66%
CI	D	0.63%
PGR	A	0.63%
ECL	D	0.62%
SQ	A	0.59%
BDX	F	0.59%
CL	D	0.58%
UNH	B	0.57%
DIS	B	0.57%
NOC	D	0.56%
SCHW	B	0.56%
PFE	F	0.56%
SEIC	B	0.54%
C	A	0.54%
KLAC	F	0.54%
DVN	F	0.53%
CVNA	B	0.52%
MMC	B	0.52%
TXT	D	0.51%
MSCI	C	0.49%
CMG	B	0.49%
TRV	B	0.49%
CAT	B	0.48%
MU	D	0.47%
ZBRA	B	0.47%
V	A	0.47%
GE	D	0.45%
COST	A	0.45%
ALLE	C	0.44%
RTX	D	0.44%
EOG	A	0.43%
CSX	C	0.43%
AXP	A	0.43%
EXEL	B	0.43%
PCAR	B	0.42%
CAH	B	0.4%
WM	B	0.38%
CME	B	0.37%
BK	A	0.36%
PPG	F	0.34%
ANF	F	0.33%
LDOS	C	0.32%
NUE	C	0.32%
MEDP	D	0.31%
GRMN	B	0.31%
CACI	D	0.3%
TMUS	B	0.29%
SKYW	C	0.29%
SPGI	C	0.28%
HWM	A	0.27%
INCY	C	0.27%
TMO	F	0.26%
IDXX	F	0.26%
NSC	B	0.26%
AMT	C	0.24%
BLK	B	0.23%
TROW	B	0.23%
LRCX	F	0.23%
LHX	C	0.23%
AME	A	0.22%
MGM	D	0.22%
CVS	D	0.22%
BIIB	F	0.21%
XEL	A	0.21%
RSG	A	0.2%
GL	C	0.2%
CLX	A	0.2%
PSA	C	0.19%
GAP	C	0.18%
HLT	A	0.18%
VZ	C	0.18%
GEHC	D	0.17%
LNW	F	0.17%
FTI	A	0.17%
ADP	A	0.16%
SPG	A	0.16%
MS	A	0.16%
F	C	0.15%
TPH	D	0.15%
ETN	A	0.15%
WFC	A	0.15%
CINF	A	0.12%
BBWI	C	0.11%
VST	A	0.11%
KR	B	0.11%
ROST	D	0.1%
MKL	A	0.09%
BAH	F	0.09%
DOC	C	0.08%
ALL	A	0.07%
BCC	B	0.07%
MDLZ	F	0.07%
L	A	0.07%
BLD	D	0.05%
UTHR	C	0.05%
ORCL	A	0.04%
QGEN	D	0.04%
SCCO	F	0.04%
LPLA	A	0.03%
CVX	A	0.02%
MHO	D	0.02%
TWLO	A	0.02%
UNM	A	0.01%
NWL	C	0.01%
OGE	A	0.01%

FHEQ Underweight 63 Positions Relative to DFNV

Symbol	Grade	Weight
APP	B	-2.69%
PLTR	B	-2.33%
INTU	B	-2.3%
IBM	C	-2.04%
PANW	B	-1.96%
SPOT	B	-1.8%
CRWD	B	-1.7%
TEAM	A	-1.38%
TTD	B	-1.24%
ADSK	A	-1.24%
VRT	B	-1.22%
SNOW	B	-1.17%
DDOG	A	-1.14%
EA	A	-1.09%
RBLX	C	-1.0%
ZS	B	-0.98%
UI	B	-0.97%
EXPE	B	-0.83%
NTAP	C	-0.81%
MCHP	F	-0.79%
NTNX	B	-0.78%
RMD	C	-0.77%
PTC	B	-0.76%
MANH	D	-0.75%
DUOL	A	-0.72%
PINS	F	-0.7%
PSTG	D	-0.68%
DT	D	-0.66%
FFIV	B	-0.6%
PCTY	C	-0.59%
VRSN	C	-0.57%
JKHY	D	-0.51%
GNRC	C	-0.5%
SWKS	F	-0.5%
SMAR	B	-0.5%
CVLT	B	-0.48%
HAS	D	-0.44%
JAZZ	B	-0.44%
ETSY	D	-0.42%
NYT	D	-0.4%
PATH	C	-0.4%
MTCH	D	-0.4%
ALTR	B	-0.4%
QLYS	B	-0.39%
HALO	F	-0.38%
PI	D	-0.36%
BOX	B	-0.36%
MAT	D	-0.36%
CWAN	B	-0.33%
ENPH	F	-0.3%
ALKS	C	-0.3%
BL	B	-0.28%
ZETA	D	-0.24%
VERX	A	-0.23%
RNG	C	-0.22%
PRGS	A	-0.21%
ACAD	C	-0.2%
RPD	B	-0.19%
YELP	C	-0.18%
FLNC	D	-0.18%
YOU	D	-0.17%
PTGX	D	-0.17%
CMPR	D	-0.15%