FMDE vs. ITAN ETF Comparison

Comparison of Fidelity Enhanced Mid Cap ETF (FMDE) to Sparkline Intangible Value ETF (ITAN)

FMDE

Fidelity Enhanced Mid Cap ETF

FMDE Description

The fund will normally invest at least 80% of assets in common stocks included in the Russell Midcap® Index, which is a market capitalization-weighted index designed to measure the performance of the mid-cap segment of the U.S. equity market. The adviser will generally use computer-aided, quantitative analysis of historical valuation, growth, profitability, and other factors to select a broadly diversified group of stocks that may have the potential to provide a higher total return than that of the index. It will invest in domestic and foreign issuers.

Grade (RS Rating)

Last Trade

$34.86

Average Daily Volume

149,918

Number of Holdings ^*

292

* may have additional holdings in another (foreign) market

ITAN

Sparkline Intangible Value ETF

ITAN Description

The investment seeks long-term capital appreciation. The fund is an actively-managed exchange-traded fund (âETFâ). The fund will invest in U.S.-listed equity securities that Sparkline Capital LP (the âSub-Adviserâ) believes are attractive relative to its proprietary measure of âintangible-augmented intrinsic value.â The fundâs investments may include common stocks and Real Estate Investment Trusts (REITs). Although the fund will not concentrate its investments in a particular industry, the Sub-Adviser anticipates that fund will hold a meaningful amount of stocks in the technology, communications, healthcare, and consumer discretionary sectors.

Grade (RS Rating)

Last Trade

$31.70

Average Daily Volume

1,737

Number of Holdings ^*

151

* may have additional holdings in another (foreign) market

Performance

Period	FMDE	ITAN
30 Days	6.40%	3.38%
60 Days	8.81%	6.58%
90 Days	10.43%	8.51%
12 Months	38.09%	29.92%

58 Overlapping Holdings

Symbol	Grade	Weight in FMDE	Weight in ITAN	Overlap
ACM	B	0.17%	0.42%	0.17%
AKAM	D	0.03%	0.32%	0.03%
ALL	A	0.57%	0.72%	0.57%
ANF	F	0.45%	0.28%	0.28%
ARW	D	0.01%	0.23%	0.01%
BAH	F	0.27%	0.47%	0.27%
BBY	D	0.03%	0.46%	0.03%
BIIB	F	0.04%	0.42%	0.04%
BMY	B	0.26%	1.03%	0.26%
CACI	D	0.49%	0.41%	0.41%
CAH	B	0.74%	0.53%	0.53%
CMI	A	0.94%	0.84%	0.84%
CNC	D	0.57%	0.54%	0.54%
CVNA	B	0.75%	0.56%	0.56%
DAL	B	0.05%	0.6%	0.05%
DASH	B	0.16%	0.71%	0.16%
DBX	B	0.56%	0.37%	0.37%
DD	C	0.58%	0.44%	0.44%
DGX	A	0.04%	0.43%	0.04%
DOCU	B	0.65%	0.53%	0.53%
EA	A	0.58%	0.53%	0.53%
EBAY	D	0.32%	0.66%	0.32%
ELAN	D	0.27%	0.3%	0.27%
EXPE	B	0.73%	0.58%	0.58%
FFIV	B	0.54%	0.46%	0.46%
FLS	B	0.21%	0.23%	0.21%
GAP	C	0.49%	0.24%	0.24%
GILD	C	0.51%	0.92%	0.51%
HPE	B	0.61%	0.63%	0.61%
HPQ	B	0.01%	0.72%	0.01%
HRB	D	0.22%	0.21%	0.21%
HUM	C	0.06%	0.53%	0.06%
IQV	F	0.33%	0.46%	0.33%
JAZZ	B	0.02%	0.32%	0.02%
KR	B	0.73%	0.51%	0.51%
LDOS	C	0.6%	0.55%	0.55%
LHX	C	0.24%	0.74%	0.24%
LYFT	C	0.57%	0.37%	0.37%
NOC	D	0.18%	0.91%	0.18%
NTAP	C	0.64%	0.6%	0.6%
NTNX	B	0.33%	0.49%	0.33%
NWSA	A	0.18%	0.33%	0.18%
PRU	A	0.85%	0.53%	0.53%
PYPL	B	0.54%	1.1%	0.54%
QRVO	F	0.5%	0.2%	0.2%
SQ	A	0.97%	0.87%	0.87%
SWK	D	0.01%	0.29%	0.01%
SWKS	F	0.45%	0.32%	0.32%
TPR	B	0.51%	0.34%	0.34%
TWLO	A	0.67%	0.49%	0.49%
TXT	D	0.59%	0.3%	0.3%
U	C	0.04%	0.25%	0.04%
UAL	A	0.79%	0.7%	0.7%
WBD	B	0.08%	0.53%	0.08%
WDAY	B	0.06%	0.7%	0.06%
XRAY	F	0.08%	0.13%	0.08%
ZBRA	B	0.25%	0.46%	0.25%
ZM	C	0.67%	0.54%	0.54%

FMDE Overweight 234 Positions Relative to ITAN

Symbol	Grade	Weight
WMB	A	1.12%
BK	A	0.99%
SPG	A	0.96%
VST	A	0.94%
HWM	A	0.89%
MSCI	C	0.84%
RJF	A	0.78%
STT	B	0.72%
RBLX	C	0.72%
WTW	B	0.72%
ROST	D	0.71%
VEEV	C	0.71%
TOST	B	0.69%
AXON	A	0.67%
PPG	F	0.66%
CSGP	D	0.66%
NRG	B	0.65%
CLX	A	0.65%
NVR	D	0.65%
KEY	B	0.65%
CCL	A	0.65%
VICI	C	0.63%
AIZ	A	0.63%
FIS	C	0.63%
TOL	B	0.62%
EQH	C	0.62%
EIX	B	0.61%
IDXX	F	0.61%
HUBS	A	0.61%
NUE	C	0.6%
AMP	A	0.6%
INCY	C	0.6%
CCI	C	0.6%
CW	C	0.59%
HUBB	B	0.59%
LNG	A	0.59%
SSNC	B	0.59%
ALLE	C	0.58%
DKNG	B	0.56%
TRGP	A	0.56%
FTV	C	0.54%
GL	C	0.54%
MANH	D	0.54%
EXEL	B	0.52%
CNP	A	0.52%
CTAS	B	0.52%
UNM	A	0.52%
GRMN	B	0.52%
DCI	B	0.52%
COR	B	0.51%
MPWR	F	0.51%
MSI	B	0.5%
AMH	C	0.49%
ECL	D	0.49%
CCK	D	0.48%
TDC	D	0.48%
TT	A	0.48%
BURL	B	0.48%
AXTA	B	0.47%
STLD	B	0.47%
BWXT	B	0.47%
BERY	C	0.46%
PSA	C	0.46%
BRX	A	0.45%
NYT	D	0.45%
MEDP	D	0.45%
HLT	A	0.45%
PEGA	B	0.45%
NDAQ	A	0.44%
CRUS	D	0.44%
SNX	D	0.44%
LNW	F	0.44%
NBIX	C	0.44%
WAB	B	0.43%
PLTR	B	0.43%
VMC	B	0.42%
GWW	B	0.42%
CL	D	0.42%
EVRG	A	0.41%
NVT	B	0.41%
HIG	B	0.4%
AME	A	0.4%
SOLV	D	0.39%
AM	A	0.39%
CPNG	D	0.39%
FIX	A	0.38%
EEFT	B	0.38%
PCAR	B	0.38%
IGT	F	0.38%
ALSN	B	0.37%
DHI	F	0.37%
VMI	B	0.37%
KLAC	F	0.36%
PCG	A	0.36%
SYF	B	0.36%
HXL	F	0.35%
UTHR	C	0.35%
LPX	B	0.35%
ZION	B	0.34%
RNG	C	0.34%
SEE	C	0.34%
DUOL	A	0.33%
GIS	D	0.33%
WCC	B	0.33%
WU	F	0.33%
UHS	D	0.32%
BLD	D	0.32%
Z	A	0.32%
EME	A	0.31%
COIN	C	0.31%
CPAY	A	0.31%
DVN	F	0.31%
AYI	B	0.31%
RS	B	0.3%
APP	B	0.3%
LEN	D	0.29%
GDDY	A	0.29%
EQR	C	0.29%
RGA	A	0.28%
MGM	D	0.28%
XEL	A	0.28%
MTDR	B	0.28%
GLPI	C	0.27%
IFF	D	0.27%
CBOE	C	0.27%
DXCM	C	0.27%
A	D	0.27%
FANG	C	0.26%
ZG	A	0.26%
PLTK	B	0.25%
BILL	A	0.25%
BRO	B	0.25%
CDW	F	0.25%
INGR	C	0.24%
SEIC	B	0.24%
CFG	B	0.23%
OC	A	0.23%
GTES	A	0.23%
TW	A	0.22%
MTB	A	0.22%
HES	B	0.22%
SBAC	D	0.22%
KMB	C	0.22%
DFS	B	0.21%
PCTY	C	0.21%
HII	F	0.21%
ADTN	A	0.2%
GPN	B	0.2%
DKS	D	0.2%
BLDR	D	0.2%
MKTX	D	0.19%
RCL	A	0.18%
MKL	A	0.16%
WWD	C	0.16%
USFD	A	0.16%
SAM	C	0.15%
DOC	C	0.15%
KD	B	0.15%
GXO	B	0.14%
TPL	A	0.14%
KMI	A	0.14%
CINF	A	0.13%
ATI	C	0.13%
ANSS	B	0.13%
REG	A	0.13%
FTI	A	0.12%
CHDN	B	0.12%
ITT	A	0.12%
AES	F	0.12%
WSM	C	0.11%
CBSH	B	0.11%
MORN	B	0.11%
IBKR	A	0.11%
GEHC	D	0.11%
NWS	A	0.11%
EXC	C	0.11%
SYY	D	0.11%
ROP	B	0.1%
CTRE	C	0.1%
LUV	C	0.1%
AWK	C	0.1%
VLTO	C	0.1%
CTRA	B	0.1%
AXS	A	0.09%
ACGL	C	0.09%
ES	C	0.09%
LPLA	A	0.09%
LEG	F	0.08%
MCHP	F	0.08%
VSTS	C	0.07%
JHG	B	0.07%
CWEN	C	0.07%
ADM	D	0.07%
MSA	F	0.07%
AMT	C	0.06%
CI	D	0.06%
DTE	C	0.06%
FR	D	0.06%
EG	C	0.06%
VIRT	A	0.06%
TNL	A	0.06%
L	A	0.06%
NSC	B	0.06%
CSL	C	0.05%
WEN	D	0.05%
EGP	D	0.05%
PHM	D	0.05%
TXG	F	0.05%
NTRA	A	0.05%
OGE	A	0.04%
BBWI	C	0.04%
CWEN	C	0.04%
ULTA	F	0.04%
K	A	0.04%
CF	A	0.03%
EPR	C	0.03%
REYN	D	0.03%
TXRH	B	0.03%
BMRN	F	0.03%
CNM	D	0.03%
SF	B	0.03%
CBRE	B	0.03%
QGEN	D	0.02%
POST	C	0.02%
AFL	B	0.02%
AJG	A	0.02%
OVV	B	0.02%
ED	C	0.02%
HAL	C	0.02%
MRO	B	0.02%
LSCC	D	0.01%
STAG	D	0.01%
OKE	A	0.01%
HOOD	B	0.01%

FMDE Underweight 93 Positions Relative to ITAN

Symbol	Grade	Weight
AMZN	C	-4.86%
META	D	-2.87%
ORCL	A	-2.31%
CRM	B	-2.14%
GOOGL	C	-2.09%
GOOG	C	-2.09%
CSCO	B	-1.78%
IBM	C	-1.69%
ACN	B	-1.6%
QCOM	F	-1.55%
T	A	-1.55%
WFC	A	-1.51%
TMUS	B	-1.42%
VZ	C	-1.3%
PFE	F	-1.28%
INTC	C	-1.26%
RTX	D	-1.23%
HON	C	-1.21%
MDT	D	-1.18%
DELL	B	-1.11%
DIS	B	-1.1%
COF	C	-1.09%
CMCSA	B	-1.06%
TGT	F	-1.03%
GM	C	-1.0%
BA	F	-0.96%
CVS	D	-0.9%
MMM	D	-0.89%
PANW	B	-0.89%
FDX	B	-0.85%
F	C	-0.82%
CTSH	B	-0.8%
CHTR	C	-0.72%
BDX	F	-0.7%
GD	D	-0.7%
JCI	B	-0.69%
NXPI	D	-0.66%
ADSK	A	-0.64%
GLW	B	-0.59%
ILMN	C	-0.54%
WDC	D	-0.53%
SNAP	D	-0.51%
ZS	B	-0.51%
VTRS	A	-0.49%
J	D	-0.45%
ROK	C	-0.45%
LH	B	-0.45%
OKTA	C	-0.44%
BAX	F	-0.44%
TRMB	B	-0.43%
JNPR	D	-0.42%
CIEN	C	-0.41%
LMT	D	-0.39%
PSTG	D	-0.39%
ROKU	D	-0.39%
AAL	B	-0.38%
LUMN	C	-0.37%
JLL	D	-0.37%
JBL	C	-0.37%
DVA	C	-0.36%
IP	A	-0.34%
EMN	C	-0.34%
TRU	D	-0.34%
ALLY	C	-0.32%
TAP	C	-0.31%
ACI	C	-0.3%
ETSY	D	-0.29%
WBA	F	-0.29%
G	B	-0.28%
PARA	C	-0.28%
RIVN	F	-0.27%
BIO	C	-0.27%
WHR	B	-0.27%
HAS	D	-0.26%
MASI	B	-0.26%
BOX	B	-0.26%
EXAS	D	-0.26%
FAF	A	-0.25%
W	D	-0.25%
PATH	C	-0.24%
DOX	D	-0.24%
ALK	B	-0.24%
IVZ	B	-0.24%
MAT	D	-0.24%
UAA	C	-0.24%
MTCH	D	-0.23%
BWA	D	-0.22%
NOV	C	-0.22%
RHI	C	-0.22%
AGCO	D	-0.19%
HOG	D	-0.19%
M	F	-0.16%
RUN	F	-0.14%