FHEQ vs. FAS ETF Comparison

Comparison of Fidelity Hedged Equity ETF (FHEQ) to Direxion Financial Bull 3X Shares (FAS)

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

$27.87

Average Daily Volume

24,517

Number of Holdings ^*

168

* may have additional holdings in another (foreign) market

FAS

Direxion Financial Bull 3X Shares

FAS Description

The investment seeks daily investment results, before fees and expenses, of 300% of the performance of the Russell 1000Â® Financial Services Index. The fund, under normal circumstances, creates long positions by investing at least 80% of its assets in the securities that comprise the Russell 1000Â® Financial Services Index ("index") and/or financial instruments that provide leveraged and unleveraged exposure to the index. The index is a subset of the Russell 1000Â® Index that measures the performance of the securities classified in the financial services sector of the large cap U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$175.62

Average Daily Volume

588,047

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FHEQ	FAS
30 Days	2.51%	21.76%
60 Days	3.80%	33.63%
90 Days	4.54%	42.90%
12 Months		160.25%

24 Overlapping Holdings

Symbol	Grade	Weight in FHEQ	Weight in FAS	Overlap
ALL	A	0.07%	0.51%	0.07%
AXP	A	0.43%	1.6%	0.43%
BAC	A	1.17%	3.06%	1.17%
BK	A	0.36%	0.57%	0.36%
BLK	C	0.23%	1.44%	0.23%
BRK.A	B	2.19%	8.47%	2.19%
C	A	0.54%	1.29%	0.54%
CINF	A	0.12%	0.23%	0.12%
CME	A	0.37%	0.8%	0.37%
GL	B	0.2%	0.1%	0.1%
JPM	A	1.82%	6.8%	1.82%
L	A	0.07%	0.15%	0.07%
MA	C	1.34%	4.24%	1.34%
MMC	B	0.52%	1.08%	0.52%
MS	A	0.16%	1.63%	0.16%
MSCI	C	0.49%	0.47%	0.47%
PGR	A	0.63%	1.49%	0.63%
PYPL	B	0.54%	0.87%	0.54%
SCHW	B	0.56%	1.18%	0.56%
SPGI	C	0.28%	1.62%	0.28%
TROW	B	0.23%	0.26%	0.23%
TRV	B	0.49%	0.58%	0.49%
V	A	0.47%	5.09%	0.47%
WFC	A	0.15%	2.45%	0.15%

FHEQ Overweight 144 Positions Relative to FAS

Symbol	Grade	Weight
AAPL	C	7.31%
NVDA	C	7.27%
MSFT	F	5.64%
AMZN	C	3.64%
META	D	2.87%
GOOGL	C	2.02%
GOOG	C	1.74%
XOM	B	1.54%
AVGO	D	1.49%
HD	A	1.32%
TSLA	B	1.26%
NFLX	A	1.26%
CRM	B	1.09%
ABBV	D	1.0%
ADBE	C	0.93%
PM	B	0.92%
PG	A	0.87%
QCOM	F	0.84%
CMCSA	B	0.83%
WMT	A	0.8%
CSCO	B	0.79%
LLY	F	0.76%
NEE	D	0.73%
UNP	C	0.73%
TJX	A	0.73%
GILD	C	0.73%
AMAT	F	0.7%
MRK	F	0.69%
TT	A	0.69%
LMT	D	0.69%
BMY	B	0.68%
T	A	0.67%
CTAS	B	0.66%
CI	F	0.63%
ECL	D	0.62%
JNJ	D	0.61%
SQ	B	0.59%
BDX	F	0.59%
CL	D	0.58%
UNH	C	0.57%
DIS	B	0.57%
NOC	D	0.56%
PFE	D	0.56%
SEIC	B	0.54%
KLAC	D	0.54%
DVN	F	0.53%
ZM	B	0.52%
CVNA	B	0.52%
TXT	D	0.51%
DBX	B	0.51%
CMG	B	0.49%
CAT	B	0.48%
MU	D	0.47%
ZBRA	B	0.47%
GE	D	0.45%
IGT	F	0.45%
COST	B	0.45%
ALLE	D	0.44%
RTX	C	0.44%
EOG	A	0.43%
CSX	B	0.43%
EXEL	B	0.43%
PCAR	B	0.42%
CAH	B	0.4%
ALRM	C	0.4%
WM	A	0.38%
TDC	D	0.35%
PPG	F	0.34%
NOW	A	0.34%
ANF	C	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	B	0.29%
HWM	A	0.27%
INCY	C	0.27%
MSI	B	0.26%
TMO	F	0.26%
IDXX	F	0.26%
NSC	B	0.26%
FTNT	C	0.24%
AMT	D	0.24%
AMGN	D	0.24%
LRCX	F	0.23%
LHX	C	0.23%
AME	A	0.22%
MGM	D	0.22%
CVS	D	0.22%
MMM	D	0.22%
BIIB	F	0.21%
XEL	A	0.21%
RSG	A	0.2%
CLX	B	0.2%
PSA	D	0.19%
GAP	C	0.18%
DOCU	A	0.18%
HLT	A	0.18%
VZ	C	0.18%
GEHC	F	0.17%
LNW	D	0.17%
FTI	A	0.17%
ADP	B	0.16%
WDAY	B	0.16%
SPG	B	0.16%
PEGA	A	0.16%
F	C	0.15%
TPH	D	0.15%
ETN	A	0.15%
UBER	D	0.14%
GEN	B	0.13%
DASH	A	0.12%
VEEV	C	0.12%
SOLV	C	0.12%
NBIX	C	0.11%
BBWI	D	0.11%
QRVO	F	0.11%
VST	B	0.11%
KR	B	0.11%
ROST	C	0.1%
PLTK	B	0.1%
MKL	A	0.09%
BAH	F	0.09%
ANET	C	0.08%
DOC	D	0.08%
BCC	B	0.07%
MDLZ	F	0.07%
TENB	C	0.06%
CRUS	D	0.06%
LYFT	C	0.06%
BLD	D	0.05%
UTHR	C	0.05%
ORCL	B	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	B	0.01%
OGE	B	0.01%

FHEQ Underweight 48 Positions Relative to FAS

Symbol	Grade	Weight
GS	A	-1.84%
BX	A	-1.29%
FI	A	-1.2%
CB	C	-1.07%
KKR	A	-1.0%
ICE	C	-0.89%
PNC	B	-0.82%
AON	A	-0.81%
USB	A	-0.78%
MCO	B	-0.75%
COF	B	-0.69%
AJG	B	-0.64%
TFC	A	-0.61%
AMP	A	-0.55%
AFL	B	-0.55%
FIS	C	-0.48%
MET	A	-0.48%
AIG	B	-0.48%
PRU	A	-0.44%
DFS	B	-0.43%
ACGL	D	-0.37%
MTB	A	-0.35%
HIG	B	-0.34%
WTW	B	-0.32%
FITB	A	-0.32%
NDAQ	A	-0.32%
GPN	B	-0.29%
RJF	A	-0.29%
STT	A	-0.28%
BRO	B	-0.26%
HBAN	A	-0.25%
SYF	B	-0.25%
CPAY	A	-0.25%
RF	A	-0.24%
CBOE	B	-0.21%
CFG	B	-0.21%
NTRS	A	-0.21%
FDS	B	-0.19%
KEY	B	-0.18%
WRB	A	-0.18%
PFG	D	-0.18%
EG	C	-0.16%
JKHY	D	-0.12%
AIZ	A	-0.11%
MKTX	D	-0.1%
ERIE	D	-0.1%
IVZ	B	-0.08%
BEN	C	-0.07%