FNCL vs. SEF ETF Comparison

Comparison of Fidelity MSCI Financials Index ETF (FNCL) to ProShares Short Financials (SEF)

FNCL

Fidelity MSCI Financials Index ETF

FNCL Description

The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Financials Index. Investing at least 80% of assets in securities included in the fund's underlying index. The fund's underlying index is the MSCI USA IMI Financials Index, which represents the performance of the financial sector in the U.S. equity market. It may or may not hold all of the securities in the MSCI USA IMI Financials Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$71.68

Average Daily Volume

112,716

Number of Holdings ^*

380

* may have additional holdings in another (foreign) market

SEF

ProShares Short Financials

SEF Description

The investment seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the Dow Jones U.S. FinancialsSM Index. The fund invests in derivatives that ProShare Advisors believes, in combination, should have similar daily return characteristics as the inverse (-1x) of the daily return of the index. The index measures the performance of the financial services sector of the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$34.58

Average Daily Volume

11,897

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FNCL	SEF
30 Days	7.55%	-5.84%
60 Days	11.91%	-8.90%
90 Days	14.78%	-10.72%
12 Months	47.47%	-25.91%

64 Overlapping Holdings

Symbol	Grade	Weight in FNCL	Weight in SEF	Overlap
ACGL	C	0.46%	0.31%	0.31%
AFL	B	0.74%	0.66%	0.66%
AIG	B	0.63%	0.77%	0.63%
AJG	A	0.8%	0.3%	0.3%
ALL	A	0.64%	0.64%	0.64%
ALLY	C	0.12%	0.19%	0.12%
AMP	A	0.69%	0.37%	0.37%
AON	A	0.91%	0.83%	0.83%
AXP	A	2.05%	1.49%	1.49%
BAC	A	4.0%	4.46%	4.0%
BK	A	0.71%	0.65%	0.65%
BLK	B	1.93%	1.06%	1.06%
BRK.A	B	7.67%	7.56%	7.56%
BX	A	1.6%	0.67%	0.67%
C	A	1.61%	2.98%	1.61%
CB	C	1.37%	1.17%	1.17%
CFG	B	0.27%	0.3%	0.27%
CINF	A	0.29%	0.27%	0.27%
CME	B	0.99%	1.25%	0.99%
COF	C	0.87%	0.81%	0.81%
DFS	B	0.54%	0.44%	0.44%
EG	C	0.2%	0.19%	0.19%
EQH	C	0.19%	0.19%	0.19%
FDS	B	0.23%	0.18%	0.18%
FITB	B	0.4%	0.35%	0.35%
FNF	B	0.19%	0.22%	0.19%
GL	C	0.13%	0.18%	0.13%
GS	A	2.35%	1.34%	1.34%
HBAN	A	0.32%	0.26%	0.26%
HIG	B	0.43%	0.37%	0.37%
ICE	C	1.11%	0.91%	0.91%
JPM	A	8.6%	7.27%	7.27%
KEY	B	0.23%	0.32%	0.23%
L	A	0.2%	0.23%	0.2%
LNC	C	0.07%	0.2%	0.07%
MA	B	5.35%	4.83%	4.83%
MCO	B	0.98%	0.7%	0.7%
MET	A	0.63%	0.69%	0.63%
MKL	A	0.28%	0.28%	0.28%
MKTX	D	0.12%	0.24%	0.12%
MMC	B	1.35%	0.97%	0.97%
MS	A	2.0%	1.19%	1.19%
MSCI	C	0.59%	0.4%	0.4%
MTB	A	0.44%	0.36%	0.36%
NDAQ	A	0.42%	0.21%	0.21%
NTRS	A	0.27%	0.39%	0.27%
PFG	D	0.25%	0.25%	0.25%
PGR	A	1.87%	0.75%	0.75%
PNC	B	1.03%	1.13%	1.03%
PRU	A	0.56%	0.66%	0.56%
RF	A	0.3%	0.27%	0.27%
RJF	A	0.39%	0.2%	0.2%
SCHW	B	1.5%	0.93%	0.93%
SPGI	C	2.02%	1.22%	1.22%
STT	B	0.35%	0.5%	0.35%
SYF	B	0.32%	0.36%	0.32%
TFC	A	0.77%	1.27%	0.77%
TROW	B	0.33%	0.52%	0.33%
TRV	B	0.73%	0.61%	0.61%
USB	A	0.98%	1.32%	0.98%
V	A	6.01%	5.88%	5.88%
WFC	A	3.14%	3.19%	3.14%
WRB	A	0.23%	0.17%	0.17%
WTW	B	0.4%	0.44%	0.4%

FNCL Overweight 316 Positions Relative to SEF

Symbol	Grade	Weight
FI	A	1.53%
KKR	A	1.16%
PYPL	B	1.05%
APO	B	0.81%
COIN	C	0.66%
FIS	C	0.61%
SQ	A	0.58%
ARES	A	0.39%
GPN	B	0.37%
BRO	B	0.33%
CPAY	A	0.31%
LPLA	A	0.29%
FCNCA	A	0.27%
CBOE	C	0.26%
IBKR	A	0.22%
HOOD	B	0.21%
RGA	A	0.19%
EWBC	A	0.18%
TOST	B	0.18%
TW	A	0.18%
SOFI	B	0.17%
RNR	C	0.17%
UNM	A	0.16%
AFRM	A	0.16%
JKHY	D	0.16%
AIZ	A	0.15%
CG	B	0.15%
SF	B	0.15%
JEF	A	0.15%
EVR	B	0.14%
FHN	A	0.14%
ERIE	D	0.13%
WBS	A	0.13%
AFG	A	0.13%
KNSL	B	0.13%
OWL	A	0.13%
PRI	B	0.13%
MORN	B	0.12%
PNFP	B	0.12%
HLI	A	0.12%
WAL	B	0.12%
ORI	A	0.12%
SNV	C	0.11%
CBSH	B	0.11%
WTFC	A	0.11%
ZION	B	0.11%
SEIC	B	0.11%
CMA	B	0.11%
PB	B	0.1%
SSB	B	0.1%
VOYA	B	0.1%
CFR	B	0.1%
JXN	C	0.09%
OMF	A	0.09%
ONB	C	0.09%
RLI	A	0.09%
RYAN	A	0.09%
BPOP	C	0.09%
HLNE	B	0.09%
AXS	A	0.09%
WEX	D	0.09%
JHG	B	0.08%
FNB	A	0.08%
BEN	C	0.08%
GBCI	B	0.08%
COOP	B	0.08%
COLB	B	0.08%
CADE	B	0.08%
MTG	C	0.08%
FAF	A	0.08%
AGNC	C	0.08%
RDN	D	0.07%
FOUR	A	0.07%
UBSI	B	0.07%
UMBF	B	0.07%
HOMB	A	0.07%
THG	A	0.07%
STWD	C	0.07%
IVZ	B	0.07%
SIGI	C	0.07%
ESNT	F	0.07%
AMG	B	0.07%
PIPR	A	0.07%
VLY	B	0.06%
ABCB	B	0.06%
KMPR	A	0.06%
EEFT	B	0.06%
CNO	B	0.06%
MC	C	0.06%
SFBS	C	0.06%
SLM	A	0.06%
WTM	A	0.06%
FFIN	B	0.06%
AGO	B	0.06%
UPST	B	0.06%
TPG	A	0.06%
OZK	B	0.06%
HWC	B	0.06%
WD	D	0.05%
BGC	C	0.05%
PJT	A	0.05%
FHB	B	0.05%
STEP	C	0.05%
TCBI	C	0.05%
ESGR	B	0.05%
IBOC	B	0.05%
ASB	B	0.05%
AX	B	0.05%
PFSI	C	0.05%
VCTR	B	0.04%
HTLF	B	0.04%
INDB	B	0.04%
GSHD	A	0.04%
SFNC	C	0.04%
BKU	A	0.04%
CACC	D	0.04%
BXMT	C	0.04%
BOH	B	0.04%
NMIH	C	0.04%
VIRT	A	0.04%
WAFD	B	0.04%
CVBF	A	0.04%
HASI	D	0.04%
PRK	B	0.04%
GNW	A	0.04%
APAM	B	0.04%
FIBK	B	0.04%
FHI	B	0.04%
CBU	B	0.04%
BOKF	B	0.04%
FBP	C	0.04%
WSFS	B	0.04%
AUB	B	0.04%
EBC	B	0.04%
CATY	B	0.04%
FULT	A	0.04%
UCB	A	0.04%
BHF	C	0.04%
SYBT	B	0.03%
NATL	B	0.03%
AGM	B	0.03%
FBK	C	0.03%
PRG	C	0.03%
FRHC	B	0.03%
TRMK	C	0.03%
BANC	B	0.03%
EVTC	B	0.03%
DBRG	F	0.03%
MCY	A	0.03%
TFIN	B	0.03%
RNST	B	0.03%
NBTB	B	0.03%
EFSC	B	0.03%
WSBC	B	0.03%
SBCF	B	0.03%
IBTX	B	0.03%
TBBK	B	0.03%
FLYW	B	0.03%
BANR	B	0.03%
BANF	B	0.03%
PPBI	C	0.03%
OSCR	D	0.03%
WU	F	0.03%
PFS	B	0.03%
ABR	C	0.03%
PLMR	A	0.03%
TOWN	B	0.03%
CNS	B	0.03%
FRME	B	0.03%
FFBC	B	0.03%
PAYO	A	0.03%
ENVA	B	0.03%
SNEX	B	0.03%
PMT	C	0.02%
OCFC	B	0.02%
SRCE	B	0.02%
EIG	B	0.02%
PEBO	B	0.02%
ARI	C	0.02%
BHLB	B	0.02%
RC	D	0.02%
ACT	C	0.02%
GABC	B	0.02%
WT	A	0.02%
NAVI	F	0.02%
WABC	B	0.02%
NBHC	C	0.02%
NNI	D	0.02%
NIC	B	0.02%
HTH	C	0.02%
VBTX	B	0.02%
CODI	B	0.02%
TCBK	C	0.02%
LOB	C	0.02%
LADR	B	0.02%
STBA	B	0.02%
SPNT	B	0.02%
MQ	D	0.02%
QCRH	B	0.02%
HOPE	C	0.02%
CUBI	B	0.02%
HMN	B	0.02%
BUSE	B	0.02%
CHCO	B	0.02%
LMND	B	0.02%
RKT	F	0.02%
LC	A	0.02%
SKWD	A	0.02%
DFIN	D	0.02%
LKFN	C	0.02%
NWBI	B	0.02%
SASR	B	0.02%
TRUP	B	0.02%
VRTS	B	0.02%
FCF	B	0.02%
FBNC	B	0.02%
STC	B	0.02%
CASH	B	0.02%
OFG	B	0.02%
CLBK	C	0.01%
HONE	C	0.01%
KRNY	C	0.01%
CCBG	B	0.01%
GDOT	D	0.01%
PX	A	0.01%
TRTX	C	0.01%
GSBC	C	0.01%
UFCS	A	0.01%
HAFC	B	0.01%
TREE	F	0.01%
UWMC	D	0.01%
NFBK	C	0.01%
NRDS	C	0.01%
BHB	C	0.01%
SPFI	C	0.01%
AMBC	C	0.01%
TIPT	C	0.01%
PGC	B	0.01%
KREF	C	0.01%
FMNB	B	0.01%
TRST	B	0.01%
MCB	B	0.01%
EZPW	B	0.01%
LPRO	B	0.01%
FSBC	C	0.01%
THFF	B	0.01%
CTLP	B	0.01%
MSBI	B	0.01%
PAY	A	0.01%
SMBC	B	0.01%
UVE	B	0.01%
IIIV	C	0.01%
CAC	C	0.01%
RBCAA	B	0.01%
EQBK	B	0.01%
BFH	C	0.01%
RPAY	D	0.01%
TFSL	A	0.01%
IMXI	B	0.01%
CPF	B	0.01%
BFST	C	0.01%
CASS	C	0.01%
MCBS	B	0.01%
AMTB	B	0.01%
FG	A	0.01%
CFFN	C	0.01%
FCBC	C	0.01%
HTBK	B	0.01%
CMTG	F	0.01%
PRA	C	0.01%
PFBC	B	0.01%
AMAL	B	0.01%
OSBC	A	0.01%
EGBN	B	0.01%
FMBH	B	0.01%
CCB	A	0.01%
CFB	B	0.01%
WASH	C	0.01%
HFWA	C	0.01%
TMP	B	0.01%
PRAA	D	0.01%
BFC	B	0.01%
BHRB	B	0.01%
HBNC	B	0.01%
BRSP	C	0.01%
MBIN	F	0.01%
BSIG	A	0.01%
DX	B	0.01%
MBWM	B	0.01%
RWT	D	0.01%
BY	B	0.01%
SBSI	C	0.01%
OBK	C	0.01%
ECPG	C	0.01%
CNOB	B	0.01%
EFC	C	0.01%
CTBI	B	0.01%
CNNE	B	0.01%
HCI	C	0.01%
IBCP	B	0.01%
BRKL	B	0.01%
FBMS	B	0.01%
UVSP	B	0.01%
FBRT	D	0.01%
AMSF	B	0.01%
PFC	B	0.01%
DCOM	B	0.01%
SAFT	B	0.01%
AROW	B	0.0%
RILY	F	0.0%
GCBC	C	0.0%
DGICA	A	0.0%
DHIL	B	0.0%
HGTY	B	0.0%
HBT	B	0.0%
WRLD	C	0.0%

FNCL Underweight 33 Positions Relative to SEF

Symbol	Grade	Weight
AMT	C	-1.74%
CCI	C	-1.02%
PLD	F	-1.0%
EQIX	A	-0.84%
SPG	A	-0.76%
WELL	A	-0.59%
PSA	C	-0.56%
AVB	B	-0.51%
SBAC	D	-0.48%
EQR	C	-0.48%
DLR	B	-0.44%
O	C	-0.42%
CSGP	D	-0.4%
WY	F	-0.39%
VTR	B	-0.37%
BXP	C	-0.34%
CBRE	B	-0.34%
ESS	B	-0.34%
ARE	F	-0.32%
DOC	C	-0.3%
INVH	D	-0.28%
MAA	B	-0.26%
WPC	C	-0.24%
SUI	C	-0.24%
EXR	C	-0.24%
NLY	C	-0.23%
UDR	B	-0.23%
HST	C	-0.22%
ELS	C	-0.22%
MPW	F	-0.19%
REG	A	-0.18%
VNO	C	-0.18%
CPT	B	-0.18%