FHEQ vs. UPRO ETF Comparison

Comparison of Fidelity Hedged Equity ETF (FHEQ) to ProShares UltraPro S&P 500 (UPRO)

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

UPRO

ProShares UltraPro S&P 500

UPRO Description

The investment seeks daily investment results, before fees and expenses, that correspond to three times (3x) the daily performance of the S&P 500®. The fund invests in securities and derivatives that ProShare Advisors believes, in combination, should have similar daily return characteristics as three times (3x) the daily return of the index. The index is a measure of large-cap U.S. stock market performance. It is a float-adjusted, market capitalization-weighted index of 500 U.S. operating companies and real estate investment trusts selected through a process. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$93.94

Average Daily Volume

3,719,101

Number of Holdings ^*

499

* may have additional holdings in another (foreign) market

Performance

Period	FHEQ	UPRO
30 Days	2.51%	7.77%
60 Days	3.80%	11.23%
90 Days	4.54%	15.12%
12 Months		96.42%

127 Overlapping Holdings

Symbol	Grade	Weight in FHEQ	Weight in UPRO	Overlap
AAPL	C	7.31%	3.57%	3.57%
ABBV	D	1.0%	0.3%	0.3%
ADBE	C	0.93%	0.23%	0.23%
ADP	B	0.16%	0.13%	0.13%
ALL	A	0.07%	0.05%	0.05%
ALLE	D	0.44%	0.01%	0.01%
AMAT	F	0.7%	0.15%	0.15%
AME	A	0.22%	0.05%	0.05%
AMGN	D	0.24%	0.16%	0.16%
AMT	D	0.24%	0.1%	0.1%
AMZN	C	3.64%	1.97%	1.97%
ANET	C	0.08%	0.1%	0.08%
AVGO	D	1.49%	0.8%	0.8%
AXP	A	0.43%	0.17%	0.17%
BAC	A	1.17%	0.33%	0.33%
BDX	F	0.59%	0.07%	0.07%
BIIB	F	0.21%	0.02%	0.02%
BK	A	0.36%	0.06%	0.06%
BLK	C	0.23%	0.15%	0.15%
BMY	B	0.68%	0.12%	0.12%
BRK.A	B	2.19%	0.9%	0.9%
C	A	0.54%	0.14%	0.14%
CAH	B	0.4%	0.03%	0.03%
CAT	B	0.48%	0.19%	0.19%
CI	F	0.63%	0.09%	0.09%
CINF	A	0.12%	0.02%	0.02%
CL	D	0.58%	0.08%	0.08%
CLX	B	0.2%	0.02%	0.02%
CMCSA	B	0.83%	0.17%	0.17%
CME	A	0.37%	0.08%	0.08%
CMG	B	0.49%	0.08%	0.08%
COST	B	0.45%	0.42%	0.42%
CRM	B	1.09%	0.33%	0.33%
CSCO	B	0.79%	0.24%	0.24%
CSX	B	0.43%	0.07%	0.07%
CTAS	B	0.66%	0.08%	0.08%
CVS	D	0.22%	0.07%	0.07%
CVX	A	0.02%	0.29%	0.02%
DIS	B	0.57%	0.22%	0.22%
DOC	D	0.08%	0.02%	0.02%
DVN	F	0.53%	0.03%	0.03%
ECL	D	0.62%	0.06%	0.06%
EOG	A	0.43%	0.08%	0.08%
ETN	A	0.15%	0.15%	0.15%
F	C	0.15%	0.04%	0.04%
FTNT	C	0.24%	0.06%	0.06%
GE	D	0.45%	0.2%	0.2%
GEHC	F	0.17%	0.04%	0.04%
GEN	B	0.13%	0.02%	0.02%
GILD	C	0.73%	0.11%	0.11%
GL	B	0.2%	0.01%	0.01%
GOOG	C	1.74%	0.87%	0.87%
GOOGL	C	2.02%	1.05%	1.05%
GRMN	B	0.31%	0.03%	0.03%
HD	A	1.32%	0.42%	0.42%
HLT	A	0.18%	0.06%	0.06%
HWM	A	0.27%	0.05%	0.05%
IDXX	F	0.26%	0.04%	0.04%
INCY	C	0.27%	0.01%	0.01%
JNJ	D	0.61%	0.39%	0.39%
JPM	A	1.82%	0.73%	0.73%
KLAC	D	0.54%	0.09%	0.09%
KR	B	0.11%	0.04%	0.04%
L	A	0.07%	0.02%	0.02%
LDOS	C	0.32%	0.02%	0.02%
LHX	C	0.23%	0.05%	0.05%
LLY	F	0.76%	0.61%	0.61%
LMT	D	0.69%	0.12%	0.12%
LRCX	F	0.23%	0.1%	0.1%
MA	C	1.34%	0.45%	0.45%
MDLZ	F	0.07%	0.09%	0.07%
META	D	2.87%	1.26%	1.26%
MGM	D	0.22%	0.01%	0.01%
MMC	B	0.52%	0.11%	0.11%
MMM	D	0.22%	0.07%	0.07%
MRK	F	0.69%	0.25%	0.25%
MS	A	0.16%	0.17%	0.16%
MSCI	C	0.49%	0.05%	0.05%
MSFT	F	5.64%	3.22%	3.22%
MSI	B	0.26%	0.09%	0.09%
MU	D	0.47%	0.11%	0.11%
NEE	D	0.73%	0.16%	0.16%
NFLX	A	1.26%	0.37%	0.37%
NOC	D	0.56%	0.07%	0.07%
NOW	A	0.34%	0.22%	0.22%
NSC	B	0.26%	0.06%	0.06%
NUE	C	0.32%	0.04%	0.04%
NVDA	C	7.27%	3.64%	3.64%
ORCL	B	0.04%	0.31%	0.04%
PCAR	B	0.42%	0.06%	0.06%
PFE	D	0.56%	0.15%	0.15%
PG	A	0.87%	0.42%	0.42%
PGR	A	0.63%	0.16%	0.16%
PM	B	0.92%	0.21%	0.21%
PPG	F	0.34%	0.03%	0.03%
PSA	D	0.19%	0.05%	0.05%
PYPL	B	0.54%	0.09%	0.09%
QCOM	F	0.84%	0.19%	0.19%
QRVO	F	0.11%	0.01%	0.01%
ROST	C	0.1%	0.05%	0.05%
RSG	A	0.2%	0.04%	0.04%
RTX	C	0.44%	0.16%	0.16%
SCHW	B	0.56%	0.13%	0.13%
SOLV	C	0.12%	0.01%	0.01%
SPG	B	0.16%	0.06%	0.06%
SPGI	C	0.28%	0.17%	0.17%
T	A	0.67%	0.17%	0.17%
TJX	A	0.73%	0.14%	0.14%
TMO	F	0.26%	0.2%	0.2%
TMUS	B	0.29%	0.12%	0.12%
TROW	B	0.23%	0.03%	0.03%
TRV	B	0.49%	0.06%	0.06%
TSLA	B	1.26%	0.93%	0.93%
TT	A	0.69%	0.1%	0.1%
TXT	D	0.51%	0.02%	0.02%
UBER	D	0.14%	0.16%	0.14%
UNH	C	0.57%	0.57%	0.57%
UNP	C	0.73%	0.15%	0.15%
V	A	0.47%	0.54%	0.47%
VST	B	0.11%	0.05%	0.05%
VZ	C	0.18%	0.18%	0.18%
WFC	A	0.15%	0.26%	0.15%
WM	A	0.38%	0.08%	0.08%
WMT	A	0.8%	0.38%	0.38%
XEL	A	0.21%	0.04%	0.04%
XOM	B	1.54%	0.55%	0.55%
ZBRA	B	0.47%	0.02%	0.02%

FHEQ Overweight 41 Positions Relative to UPRO

Symbol	Grade	Weight
SQ	B	0.59%
SEIC	B	0.54%
ZM	B	0.52%
CVNA	B	0.52%
DBX	B	0.51%
IGT	F	0.45%
EXEL	B	0.43%
ALRM	C	0.4%
TDC	D	0.35%
ANF	C	0.33%
MEDP	D	0.31%
CACI	D	0.3%
SKYW	B	0.29%
GAP	C	0.18%
DOCU	A	0.18%
LNW	D	0.17%
FTI	A	0.17%
WDAY	B	0.16%
PEGA	A	0.16%
TPH	D	0.15%
DASH	A	0.12%
VEEV	C	0.12%
NBIX	C	0.11%
BBWI	D	0.11%
PLTK	B	0.1%
MKL	A	0.09%
BAH	F	0.09%
BCC	B	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%
MHO	D	0.02%
TWLO	A	0.02%
UNM	A	0.01%
NWL	B	0.01%
OGE	B	0.01%

FHEQ Underweight 372 Positions Relative to UPRO

Symbol	Grade	Weight
KO	D	-0.25%
LIN	D	-0.23%
PEP	F	-0.23%
AMD	F	-0.23%
ACN	C	-0.23%
MCD	D	-0.22%
ABT	B	-0.21%
GS	A	-0.2%
IBM	C	-0.2%
INTU	C	-0.2%
TXN	C	-0.19%
ISRG	A	-0.19%
BKNG	A	-0.17%
HON	B	-0.16%
LOW	D	-0.16%
DHR	F	-0.15%
COP	C	-0.14%
BX	A	-0.14%
PLTR	B	-0.14%
SYK	C	-0.14%
VRTX	F	-0.13%
FI	A	-0.13%
PANW	C	-0.13%
BSX	B	-0.13%
SBUX	A	-0.12%
MDT	D	-0.12%
KKR	A	-0.11%
DE	A	-0.11%
ADI	D	-0.11%
BA	F	-0.11%
INTC	D	-0.11%
PLD	D	-0.11%
CB	C	-0.11%
NKE	D	-0.1%
ELV	F	-0.1%
MO	A	-0.1%
SO	D	-0.1%
UPS	C	-0.1%
PNC	B	-0.09%
AON	A	-0.09%
APH	A	-0.09%
EQIX	A	-0.09%
DUK	C	-0.09%
SHW	A	-0.09%
ICE	C	-0.09%
PH	A	-0.09%
GEV	B	-0.09%
EMR	A	-0.08%
ITW	B	-0.08%
MCO	B	-0.08%
GD	F	-0.08%
CRWD	B	-0.08%
USB	A	-0.08%
MCK	B	-0.08%
WELL	A	-0.08%
ZTS	D	-0.08%
CDNS	B	-0.08%
SNPS	B	-0.08%
REGN	F	-0.08%
TFC	A	-0.07%
CARR	D	-0.07%
HCA	F	-0.07%
GM	B	-0.07%
OKE	A	-0.07%
ADSK	A	-0.07%
AJG	B	-0.07%
MAR	B	-0.07%
FDX	B	-0.07%
WMB	A	-0.07%
CEG	D	-0.07%
APD	A	-0.07%
TGT	F	-0.07%
TDG	D	-0.07%
COF	B	-0.07%
ORLY	B	-0.07%
RCL	A	-0.06%
PSX	C	-0.06%
AMP	A	-0.06%
NXPI	D	-0.06%
DLR	B	-0.06%
URI	B	-0.06%
AFL	B	-0.06%
JCI	C	-0.06%
FICO	B	-0.06%
ABNB	C	-0.06%
SRE	A	-0.06%
ROP	B	-0.06%
SLB	C	-0.06%
FCX	D	-0.06%
DFS	B	-0.05%
PEG	A	-0.05%
VLO	C	-0.05%
PCG	A	-0.05%
CCI	D	-0.05%
KMB	D	-0.05%
PRU	A	-0.05%
KVUE	A	-0.05%
PAYX	C	-0.05%
FAST	B	-0.05%
NEM	D	-0.05%
PWR	A	-0.05%
DHI	D	-0.05%
FIS	C	-0.05%
D	C	-0.05%
AIG	B	-0.05%
MET	A	-0.05%
O	D	-0.05%
CMI	A	-0.05%
CPRT	A	-0.05%
AZO	C	-0.05%
AEP	D	-0.05%
GWW	B	-0.05%
MPC	D	-0.05%
KMI	A	-0.05%
OXY	D	-0.04%
MCHP	D	-0.04%
IRM	D	-0.04%
WAB	B	-0.04%
DD	D	-0.04%
RMD	C	-0.04%
HIG	B	-0.04%
EXR	D	-0.04%
NVR	D	-0.04%
GIS	D	-0.04%
MLM	B	-0.04%
GLW	B	-0.04%
MTB	A	-0.04%
HPQ	B	-0.04%
MNST	C	-0.04%
LULU	C	-0.04%
SYY	B	-0.04%
VMC	B	-0.04%
A	D	-0.04%
STZ	D	-0.04%
YUM	B	-0.04%
CHTR	C	-0.04%
DELL	C	-0.04%
ACGL	D	-0.04%
CTVA	C	-0.04%
CTSH	B	-0.04%
EA	A	-0.04%
EXC	C	-0.04%
CBRE	B	-0.04%
OTIS	C	-0.04%
VRSK	A	-0.04%
HES	B	-0.04%
IT	C	-0.04%
ODFL	B	-0.04%
EW	C	-0.04%
LEN	D	-0.04%
DAL	C	-0.04%
IR	B	-0.04%
COR	B	-0.04%
BKR	B	-0.04%
TRGP	B	-0.04%
AXON	A	-0.04%
NTAP	C	-0.03%
RF	A	-0.03%
AEE	A	-0.03%
CCL	B	-0.03%
MTD	D	-0.03%
PPL	B	-0.03%
DTE	C	-0.03%
EQR	B	-0.03%
HSY	F	-0.03%
TYL	B	-0.03%
EQT	B	-0.03%
VLTO	D	-0.03%
CPAY	A	-0.03%
SW	A	-0.03%
ADM	D	-0.03%
HBAN	A	-0.03%
SYF	B	-0.03%
GDDY	A	-0.03%
BRO	B	-0.03%
KEYS	A	-0.03%
HAL	C	-0.03%
AWK	D	-0.03%
VTR	C	-0.03%
FTV	C	-0.03%
CHD	B	-0.03%
BR	A	-0.03%
PHM	D	-0.03%
DECK	A	-0.03%
HPE	B	-0.03%
KHC	F	-0.03%
DOV	A	-0.03%
ON	D	-0.03%
MPWR	F	-0.03%
STT	A	-0.03%
ANSS	B	-0.03%
TTWO	A	-0.03%
CSGP	D	-0.03%
GPN	B	-0.03%
XYL	D	-0.03%
TSCO	D	-0.03%
RJF	A	-0.03%
UAL	A	-0.03%
EBAY	D	-0.03%
CNC	D	-0.03%
DXCM	D	-0.03%
EFX	F	-0.03%
DOW	F	-0.03%
WEC	A	-0.03%
WTW	B	-0.03%
ETR	B	-0.03%
FITB	A	-0.03%
EIX	B	-0.03%
AVB	B	-0.03%
NDAQ	A	-0.03%
ROK	B	-0.03%
FANG	D	-0.03%
VICI	C	-0.03%
HUM	C	-0.03%
ED	D	-0.03%
KDP	D	-0.03%
IQV	D	-0.03%
JBL	B	-0.02%
EVRG	A	-0.02%
AMCR	D	-0.02%
JBHT	C	-0.02%
EL	F	-0.02%
DPZ	C	-0.02%
VRSN	F	-0.02%
VTRS	A	-0.02%
LNT	A	-0.02%
CF	B	-0.02%
ALGN	D	-0.02%
MRO	B	-0.02%
EG	C	-0.02%
AVY	D	-0.02%
BAX	D	-0.02%
NI	A	-0.02%
ARE	D	-0.02%
DG	F	-0.02%
TER	D	-0.02%
KIM	A	-0.02%
LVS	C	-0.02%
EXPD	D	-0.02%
GPC	D	-0.02%
IEX	B	-0.02%
MAS	D	-0.02%
TRMB	B	-0.02%
MOH	F	-0.02%
J	F	-0.02%
PNR	A	-0.02%
ULTA	F	-0.02%
KEY	B	-0.02%
DGX	A	-0.02%
BBY	D	-0.02%
WRB	A	-0.02%
HOLX	D	-0.02%
PFG	D	-0.02%
PODD	C	-0.02%
FDS	B	-0.02%
TSN	B	-0.02%
BALL	D	-0.02%
MAA	B	-0.02%
SNA	A	-0.02%
MKC	D	-0.02%
CTRA	B	-0.02%
OMC	C	-0.02%
NRG	B	-0.02%
ESS	B	-0.02%
INVH	D	-0.02%
LUV	C	-0.02%
DRI	B	-0.02%
LH	C	-0.02%
IP	B	-0.02%
STLD	B	-0.02%
CNP	B	-0.02%
LYV	A	-0.02%
STX	D	-0.02%
CMS	C	-0.02%
FSLR	F	-0.02%
WDC	D	-0.02%
WBD	C	-0.02%
BLDR	D	-0.02%
CFG	B	-0.02%
CBOE	B	-0.02%
PKG	A	-0.02%
FE	C	-0.02%
LYB	F	-0.02%
K	A	-0.02%
NTRS	A	-0.02%
WAT	B	-0.02%
STE	F	-0.02%
IFF	D	-0.02%
ES	D	-0.02%
TDY	B	-0.02%
WY	D	-0.02%
EXPE	B	-0.02%
ATO	A	-0.02%
PTC	A	-0.02%
ZBH	C	-0.02%
WST	C	-0.02%
HUBB	B	-0.02%
SBAC	D	-0.02%
CDW	F	-0.02%
FOX	A	-0.01%
WBA	F	-0.01%
PARA	C	-0.01%
BEN	C	-0.01%
FMC	D	-0.01%
MHK	D	-0.01%
DVA	B	-0.01%
HII	D	-0.01%
BWA	D	-0.01%
MTCH	D	-0.01%
IVZ	B	-0.01%
CZR	F	-0.01%
ENPH	F	-0.01%
CE	F	-0.01%
HAS	D	-0.01%
RL	B	-0.01%
APA	D	-0.01%
MOS	F	-0.01%
FRT	B	-0.01%
HRL	D	-0.01%
WYNN	D	-0.01%
CPB	D	-0.01%
AOS	F	-0.01%
HSIC	B	-0.01%
TFX	F	-0.01%
SMCI	F	-0.01%
CRL	C	-0.01%
AES	F	-0.01%
LKQ	D	-0.01%
MKTX	D	-0.01%
IPG	D	-0.01%
FOXA	B	-0.01%
ERIE	D	-0.01%
PNW	B	-0.01%
TECH	D	-0.01%
CTLT	B	-0.01%
NWSA	B	-0.01%
LW	C	-0.01%
PAYC	B	-0.01%
TAP	C	-0.01%
GNRC	B	-0.01%
AIZ	A	-0.01%
BXP	D	-0.01%
SJM	D	-0.01%
NCLH	B	-0.01%
DAY	B	-0.01%
EMN	D	-0.01%
JNPR	F	-0.01%
REG	B	-0.01%
HST	C	-0.01%
UHS	D	-0.01%
KMX	B	-0.01%
ALB	C	-0.01%
MRNA	F	-0.01%
JKHY	D	-0.01%
CPT	B	-0.01%
BG	F	-0.01%
CAG	D	-0.01%
DLTR	F	-0.01%
CHRW	C	-0.01%
SWK	D	-0.01%
TPR	B	-0.01%
AKAM	D	-0.01%
UDR	B	-0.01%
SWKS	F	-0.01%
EPAM	C	-0.01%
RVTY	F	-0.01%
POOL	C	-0.01%
NDSN	B	-0.01%
APTV	D	-0.01%
ROL	B	-0.01%
FFIV	B	-0.01%
NWS	B	-0.0%