FHEQ vs. FVAL ETF Comparison

Comparison of Fidelity Hedged Equity ETF (FHEQ) to Fidelity Value Factor ETF (FVAL)

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

FVAL

Fidelity Value Factor ETF

FVAL Description

The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity U.S. Value Factor Index. Normally investing at least 80% of assets in securities included in the Fidelity U.S. Value Factor Index, which is designed to reflect the performance of stocks of large and mid-capitalization U.S. companies that have attractive valuations.

Grade (RS Rating)

Last Trade

$63.26

Average Daily Volume

81,569

Number of Holdings ^*

124

* may have additional holdings in another (foreign) market

Performance

Period	FHEQ	FVAL
30 Days	2.51%	3.33%
60 Days	3.80%	5.59%
90 Days	4.54%	6.82%
12 Months		28.35%

48 Overlapping Holdings

Symbol	Grade	Weight in FHEQ	Weight in FVAL	Overlap
AAPL	C	7.31%	6.68%	6.68%
ABBV	D	1.0%	1.11%	1.0%
ADP	B	0.16%	0.64%	0.16%
AMZN	C	3.64%	3.88%	3.64%
AXP	A	0.43%	0.83%	0.43%
BAC	A	1.17%	1.13%	1.13%
BMY	B	0.68%	0.98%	0.68%
BRK.A	B	2.19%	2.07%	2.07%
C	A	0.54%	0.74%	0.54%
CAT	B	0.48%	0.77%	0.48%
CI	F	0.63%	0.81%	0.63%
CMCSA	B	0.83%	0.61%	0.61%
CRM	B	1.09%	1.46%	1.09%
CVS	D	0.22%	0.71%	0.22%
CVX	A	0.02%	0.67%	0.02%
DVN	F	0.53%	0.18%	0.18%
EOG	A	0.43%	0.31%	0.31%
F	C	0.15%	0.51%	0.15%
GILD	C	0.73%	0.97%	0.73%
GOOGL	C	2.02%	3.72%	2.02%
HD	A	1.32%	1.22%	1.22%
JNJ	D	0.61%	1.31%	0.61%
JPM	A	1.82%	1.84%	1.82%
KR	B	0.11%	0.43%	0.11%
LMT	D	0.69%	0.56%	0.56%
META	D	2.87%	2.55%	2.55%
MMM	D	0.22%	0.5%	0.22%
MRK	F	0.69%	1.01%	0.69%
MSFT	F	5.64%	6.37%	5.64%
MU	D	0.47%	0.85%	0.47%
NEE	D	0.73%	0.46%	0.46%
NUE	C	0.32%	0.19%	0.19%
NVDA	C	7.27%	7.33%	7.27%
PCAR	B	0.42%	0.53%	0.42%
PG	A	0.87%	1.08%	0.87%
PSA	D	0.19%	0.25%	0.19%
QCOM	F	0.84%	1.0%	0.84%
SPG	B	0.16%	0.27%	0.16%
T	A	0.67%	0.62%	0.62%
TRV	B	0.49%	0.68%	0.49%
UNH	C	0.57%	1.69%	0.57%
UNP	C	0.73%	0.61%	0.61%
V	A	0.47%	1.44%	0.47%
VZ	C	0.18%	0.61%	0.18%
WFC	A	0.15%	1.08%	0.15%
WMT	A	0.8%	1.07%	0.8%
XOM	B	1.54%	1.14%	1.14%
ZM	B	0.52%	0.98%	0.52%

FHEQ Overweight 120 Positions Relative to FVAL

Symbol	Grade	Weight
GOOG	C	1.74%
AVGO	D	1.49%
MA	C	1.34%
TSLA	B	1.26%
NFLX	A	1.26%
ADBE	C	0.93%
PM	B	0.92%
CSCO	B	0.79%
LLY	F	0.76%
TJX	A	0.73%
AMAT	F	0.7%
TT	A	0.69%
CTAS	B	0.66%
PGR	A	0.63%
ECL	D	0.62%
SQ	B	0.59%
BDX	F	0.59%
CL	D	0.58%
DIS	B	0.57%
NOC	D	0.56%
SCHW	B	0.56%
PFE	D	0.56%
SEIC	B	0.54%
PYPL	B	0.54%
KLAC	D	0.54%
CVNA	B	0.52%
MMC	B	0.52%
TXT	D	0.51%
DBX	B	0.51%
MSCI	C	0.49%
CMG	B	0.49%
ZBRA	B	0.47%
GE	D	0.45%
IGT	F	0.45%
COST	B	0.45%
ALLE	D	0.44%
RTX	C	0.44%
CSX	B	0.43%
EXEL	B	0.43%
CAH	B	0.4%
ALRM	C	0.4%
WM	A	0.38%
CME	A	0.37%
BK	A	0.36%
TDC	D	0.35%
PPG	F	0.34%
NOW	A	0.34%
ANF	C	0.33%
LDOS	C	0.32%
MEDP	D	0.31%
GRMN	B	0.31%
CACI	D	0.3%
TMUS	B	0.29%
SKYW	B	0.29%
SPGI	C	0.28%
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%
BLK	C	0.23%
TROW	B	0.23%
LRCX	F	0.23%
LHX	C	0.23%
AME	A	0.22%
MGM	D	0.22%
BIIB	F	0.21%
XEL	A	0.21%
RSG	A	0.2%
GL	B	0.2%
CLX	B	0.2%
GAP	C	0.18%
DOCU	A	0.18%
HLT	A	0.18%
GEHC	F	0.17%
LNW	D	0.17%
FTI	A	0.17%
WDAY	B	0.16%
MS	A	0.16%
PEGA	A	0.16%
TPH	D	0.15%
ETN	A	0.15%
UBER	D	0.14%
GEN	B	0.13%
DASH	A	0.12%
VEEV	C	0.12%
CINF	A	0.12%
SOLV	C	0.12%
NBIX	C	0.11%
BBWI	D	0.11%
QRVO	F	0.11%
VST	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%
ALL	A	0.07%
BCC	B	0.07%
MDLZ	F	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%
ORCL	B	0.04%
QGEN	D	0.04%
SCCO	F	0.04%
LPLA	A	0.03%
MHO	D	0.02%
TWLO	A	0.02%
UNM	A	0.01%
NWL	B	0.01%
OGE	B	0.01%

FHEQ Underweight 76 Positions Relative to FVAL

Symbol	Grade	Weight
ACN	C	-1.15%
IBM	C	-1.09%
BKNG	A	-0.87%
UAL	A	-0.84%
MCD	D	-0.84%
HPE	B	-0.81%
INTC	D	-0.77%
CTSH	B	-0.76%
COF	B	-0.72%
DFS	B	-0.68%
HON	B	-0.68%
SYF	B	-0.67%
ELV	F	-0.67%
GM	B	-0.67%
EXPE	B	-0.66%
DAL	C	-0.64%
RPRX	D	-0.61%
DE	A	-0.59%
SWKS	F	-0.56%
JXN	C	-0.56%
PRU	A	-0.56%
LVS	C	-0.55%
UPS	C	-0.55%
MO	A	-0.55%
CNC	D	-0.54%
RNR	C	-0.54%
LIN	D	-0.53%
KVUE	A	-0.52%
CMI	A	-0.52%
OZK	B	-0.51%
EBAY	D	-0.51%
EG	C	-0.5%
WYNN	D	-0.5%
G	B	-0.49%
TGT	F	-0.48%
FDX	B	-0.48%
RHI	B	-0.44%
OC	A	-0.42%
KMB	D	-0.41%
COP	C	-0.4%
M	D	-0.39%
AGCO	D	-0.38%
ADM	D	-0.35%
ACI	C	-0.34%
DUK	C	-0.34%
PLD	D	-0.32%
BG	F	-0.32%
PCG	A	-0.29%
PARA	C	-0.28%
EXC	C	-0.26%
ATKR	C	-0.26%
NRG	B	-0.26%
AEP	D	-0.26%
FCX	D	-0.24%
MPC	D	-0.24%
O	D	-0.23%
CBRE	B	-0.23%
VLO	C	-0.22%
NFG	A	-0.2%
VICI	C	-0.2%
NEM	D	-0.19%
BXP	D	-0.18%
CF	B	-0.18%
STLD	B	-0.18%
UGI	A	-0.18%
HST	C	-0.17%
JLL	D	-0.17%
WPC	D	-0.16%
ARE	D	-0.16%
GLPI	C	-0.16%
DOW	F	-0.16%
LYB	F	-0.15%
CIVI	D	-0.13%
MOS	F	-0.13%
MUR	D	-0.13%
CLF	F	-0.11%