FHEQ vs. FCTR ETF Comparison

Comparison of Fidelity Hedged Equity ETF (FHEQ) to First Trust Lunt U.S. Factor Rotation ETF (FCTR)

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

FCTR

First Trust Lunt U.S. Factor Rotation ETF

FCTR Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Lunt Capital Large Cap Factor Rotation Index (the "index"). The fund will normally invest at least 90% of its net assets (including investment borrowings) in common stocks that comprise the index. The index is designed to provide exposure to U.S. large cap equities grouped into four separate factors, with factors emphasized within the index as they come into favor in the U.S. marketplace. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$34.76

Average Daily Volume

7,787

Number of Holdings ^*

166

* may have additional holdings in another (foreign) market

Performance

Period	FHEQ	FCTR
30 Days	2.51%	9.38%
60 Days	3.80%	12.16%
90 Days	4.54%	17.79%
12 Months		36.88%

48 Overlapping Holdings

Symbol	Grade	Weight in FHEQ	Weight in FCTR	Overlap
AAPL	C	7.31%	0.66%	0.66%
ADBE	C	0.93%	0.37%	0.37%
ADP	B	0.16%	1.1%	0.16%
AME	A	0.22%	0.22%	0.22%
AMT	D	0.24%	0.34%	0.24%
ANET	C	0.08%	1.24%	0.08%
AVGO	D	1.49%	0.43%	0.43%
BDX	F	0.59%	0.39%	0.39%
BLK	C	0.23%	0.45%	0.23%
BRK.A	B	2.19%	0.24%	0.24%
CL	D	0.58%	1.01%	0.58%
CMG	B	0.49%	0.22%	0.22%
COST	B	0.45%	0.34%	0.34%
CSCO	B	0.79%	0.25%	0.25%
CTAS	B	0.66%	1.05%	0.66%
DASH	A	0.12%	0.47%	0.12%
ETN	A	0.15%	0.3%	0.15%
HWM	A	0.27%	0.79%	0.27%
IDXX	F	0.26%	0.31%	0.26%
KLAC	D	0.54%	0.32%	0.32%
LDOS	C	0.32%	0.8%	0.32%
LLY	F	0.76%	0.72%	0.72%
LMT	D	0.69%	0.45%	0.45%
MA	C	1.34%	1.36%	1.34%
MDLZ	F	0.07%	0.19%	0.07%
META	D	2.87%	0.45%	0.45%
MMC	B	0.52%	0.54%	0.52%
MSCI	C	0.49%	0.49%	0.49%
MSFT	F	5.64%	0.36%	0.36%
MSI	B	0.26%	1.73%	0.26%
NFLX	A	1.26%	0.47%	0.47%
NOC	D	0.56%	0.4%	0.4%
NOW	A	0.34%	0.51%	0.34%
NVDA	C	7.27%	0.77%	0.77%
ORCL	B	0.04%	0.51%	0.04%
PCAR	B	0.42%	0.19%	0.19%
PG	A	0.87%	0.52%	0.52%
PGR	A	0.63%	0.48%	0.48%
PPG	F	0.34%	0.41%	0.34%
PSA	D	0.19%	0.34%	0.19%
ROST	C	0.1%	0.47%	0.1%
RSG	A	0.2%	0.24%	0.2%
SPGI	C	0.28%	0.47%	0.28%
TJX	A	0.73%	0.6%	0.6%
TT	A	0.69%	0.82%	0.69%
V	A	0.47%	1.34%	0.47%
VST	B	0.11%	1.86%	0.11%
WM	A	0.38%	0.22%	0.22%

FHEQ Overweight 120 Positions Relative to FCTR

Symbol	Grade	Weight
AMZN	C	3.64%
GOOGL	C	2.02%
JPM	A	1.82%
GOOG	C	1.74%
XOM	B	1.54%
HD	A	1.32%
TSLA	B	1.26%
BAC	A	1.17%
CRM	B	1.09%
ABBV	D	1.0%
PM	B	0.92%
QCOM	F	0.84%
CMCSA	B	0.83%
WMT	A	0.8%
NEE	D	0.73%
UNP	C	0.73%
GILD	C	0.73%
AMAT	F	0.7%
MRK	F	0.69%
BMY	B	0.68%
T	A	0.67%
CI	F	0.63%
ECL	D	0.62%
JNJ	D	0.61%
SQ	B	0.59%
UNH	C	0.57%
DIS	B	0.57%
SCHW	B	0.56%
PFE	D	0.56%
SEIC	B	0.54%
C	A	0.54%
PYPL	B	0.54%
DVN	F	0.53%
ZM	B	0.52%
CVNA	B	0.52%
TXT	D	0.51%
DBX	B	0.51%
TRV	B	0.49%
CAT	B	0.48%
MU	D	0.47%
ZBRA	B	0.47%
GE	D	0.45%
IGT	F	0.45%
ALLE	D	0.44%
RTX	C	0.44%
EOG	A	0.43%
CSX	B	0.43%
AXP	A	0.43%
EXEL	B	0.43%
CAH	B	0.4%
ALRM	C	0.4%
CME	A	0.37%
BK	A	0.36%
TDC	D	0.35%
ANF	C	0.33%
NUE	C	0.32%
MEDP	D	0.31%
GRMN	B	0.31%
CACI	D	0.3%
TMUS	B	0.29%
SKYW	B	0.29%
INCY	C	0.27%
TMO	F	0.26%
NSC	B	0.26%
FTNT	C	0.24%
AMGN	D	0.24%
TROW	B	0.23%
LRCX	F	0.23%
LHX	C	0.23%
MGM	D	0.22%
CVS	D	0.22%
MMM	D	0.22%
BIIB	F	0.21%
XEL	A	0.21%
GL	B	0.2%
CLX	B	0.2%
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%
WDAY	B	0.16%
SPG	B	0.16%
MS	A	0.16%
PEGA	A	0.16%
F	C	0.15%
TPH	D	0.15%
WFC	A	0.15%
UBER	D	0.14%
GEN	B	0.13%
VEEV	C	0.12%
CINF	A	0.12%
SOLV	C	0.12%
NBIX	C	0.11%
BBWI	D	0.11%
QRVO	F	0.11%
KR	B	0.11%
PLTK	B	0.1%
MKL	A	0.09%
BAH	F	0.09%
DOC	D	0.08%
ALL	A	0.07%
BCC	B	0.07%
L	A	0.07%
TENB	C	0.06%
CRUS	D	0.06%
LYFT	C	0.06%
BLD	D	0.05%
UTHR	C	0.05%
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 118 Positions Relative to FCTR

Symbol	Grade	Weight
APP	B	-3.82%
PLTR	B	-2.43%
MSTR	C	-2.06%
FICO	B	-1.51%
AXON	A	-1.45%
PAYX	C	-1.42%
BR	A	-1.37%
SYK	C	-1.36%
ARES	A	-1.04%
APO	B	-1.03%
TDG	D	-0.99%
YUM	B	-0.95%
BRO	B	-0.94%
VRSK	A	-0.93%
HOOD	B	-0.92%
FI	A	-0.92%
ISRG	A	-0.91%
FDS	B	-0.9%
ROL	B	-0.9%
VRSN	F	-0.87%
ITW	B	-0.84%
THC	D	-0.81%
ACGL	D	-0.8%
SYY	B	-0.77%
EME	C	-0.77%
ICE	C	-0.77%
TPL	A	-0.75%
TRGP	B	-0.73%
MANH	D	-0.7%
CRWD	B	-0.68%
KKR	A	-0.68%
MCD	D	-0.65%
VICI	C	-0.63%
PH	A	-0.62%
IRM	D	-0.61%
TTD	B	-0.59%
NET	B	-0.58%
DDOG	A	-0.56%
RCL	A	-0.56%
HUBS	A	-0.55%
NI	A	-0.55%
CDNS	B	-0.54%
ZS	C	-0.53%
SBAC	D	-0.53%
LNG	B	-0.52%
KO	D	-0.52%
FAST	B	-0.52%
TOL	B	-0.52%
SNOW	C	-0.51%
TTWO	A	-0.51%
PPL	B	-0.51%
FE	C	-0.5%
SRE	A	-0.5%
PANW	C	-0.5%
ETR	B	-0.5%
DRI	B	-0.49%
RBLX	C	-0.49%
LNT	A	-0.49%
DUK	C	-0.49%
WEC	A	-0.48%
BSX	B	-0.47%
CMS	C	-0.46%
ERIE	D	-0.45%
DPZ	C	-0.45%
AEE	A	-0.45%
SO	D	-0.44%
SNPS	B	-0.44%
AVB	B	-0.43%
ED	D	-0.43%
ALNY	D	-0.43%
ORLY	B	-0.43%
EIX	B	-0.43%
ADSK	A	-0.42%
ROP	B	-0.42%
KDP	D	-0.42%
PHM	D	-0.42%
GLPI	C	-0.42%
URI	B	-0.41%
AEP	D	-0.41%
O	D	-0.41%
MDB	C	-0.4%
EXC	C	-0.4%
DXCM	D	-0.4%
EQR	B	-0.4%
DTE	C	-0.4%
AFL	B	-0.4%
MDT	D	-0.39%
KMB	D	-0.39%
MCO	B	-0.39%
CARR	D	-0.38%
AWK	D	-0.38%
LW	C	-0.37%
VRTX	F	-0.37%
PWR	A	-0.37%
INTU	C	-0.37%
LII	A	-0.37%
BSY	D	-0.37%
NVR	D	-0.36%
BX	A	-0.36%
OKE	A	-0.36%
GIS	D	-0.35%
DHI	D	-0.34%
CSL	C	-0.33%
HCA	F	-0.33%
RIVN	F	-0.32%
MPWR	F	-0.31%
FCNCA	A	-0.31%
BKNG	A	-0.29%
GWW	B	-0.28%
ATO	A	-0.27%
CPAY	A	-0.26%
HON	B	-0.24%
CHD	B	-0.23%
CB	C	-0.23%
PEP	F	-0.2%
HSY	F	-0.19%
MNST	C	-0.19%
LECO	B	-0.17%