FPRO vs. BBRE ETF Comparison

Comparison of Fidelity Real Estate Investment ETF (FPRO) to JPMorgan BetaBuilders MSCI U.S. REIT ETF (BBRE)

FPRO

Fidelity Real Estate Investment ETF

FPRO Description

The investment seeks above-average income and long-term capital growth, consistent with reasonable investment risk. The fund is an actively managed ETF that operates pursuant to an exemptive order from the Securities and Exchange Commission (Order) and is not required to publicly disclose its complete portfolio holdings each business day. The fund normally invests at least 80% of assets in securities of companies principally engaged in the real estate industry and other real estate related investments. It invests in domestic and foreign issuers. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$23.66

Average Daily Volume

5,249

Number of Holdings ^*

* may have additional holdings in another (foreign) market

BBRE

JPMorgan BetaBuilders MSCI U.S. REIT ETF

BBRE Description

The investment seeks to provide total return. Under normal circumstances, the fund will invest at least 80% of its assets in bonds. It will invest at least 40% of its assets in countries other than the United States. The fund may invest in developed or emerging markets. It generally invests at least 25% of its assets in securities that, at the time of purchase are rated investment grade or the unrated equivalent. "Assets" means net assets plus the amount of borrowings for investment purposes. The fund may also use currency related transactions involving currency derivatives as part of its primary investment strategy.

Grade (RS Rating)

Last Trade

$99.92

Average Daily Volume

37,813

Number of Holdings ^*

114

* may have additional holdings in another (foreign) market

Performance

Period	FPRO	BBRE
30 Days	-1.73%	-0.98%
60 Days	0.46%	1.61%
90 Days	6.21%	8.14%
12 Months	31.97%	38.93%

31 Overlapping Holdings

Symbol	Grade	Weight in FPRO	Weight in BBRE	Overlap
AKR	A	0.23%	0.21%	0.21%
AMH	D	2.11%	1.05%	1.05%
COLD	F	2.32%	0.61%	0.61%
CPT	D	1.12%	1.04%	1.04%
CUBE	D	3.41%	0.93%	0.93%
DLR	B	3.25%	4.55%	3.25%
DRH	B	0.65%	0.17%	0.17%
ELME	C	0.43%	0.13%	0.13%
ELS	C	0.42%	1.06%	0.42%
EQIX	A	6.67%	7.23%	6.67%
EQR	C	2.83%	2.28%	2.28%
EXR	D	1.93%	3.04%	1.93%
FCPT	C	0.87%	0.21%	0.21%
INVH	F	1.57%	1.77%	1.57%
IRM	A	0.74%	3.22%	0.74%
KIM	B	4.0%	1.39%	1.39%
MAA	D	2.91%	1.54%	1.54%
NNN	D	3.64%	0.72%	0.72%
PECO	C	0.78%	0.38%	0.38%
PLD	F	10.5%	9.09%	9.09%
PSA	D	5.96%	4.28%	4.28%
REG	A	1.04%	1.04%	1.04%
RHP	B	0.44%	0.5%	0.44%
SKT	B	0.64%	0.31%	0.31%
STAG	C	1.14%	0.58%	0.58%
SUI	D	2.88%	1.41%	1.41%
TRNO	F	0.77%	0.41%	0.41%
UDR	D	3.53%	1.24%	1.24%
UE	A	1.38%	0.23%	0.23%
VTR	A	5.87%	2.24%	2.24%
WELL	A	4.02%	5.82%	4.02%

FPRO Overweight 8 Positions Relative to BBRE

Symbol	Grade	Weight
AMT	D	9.08%
CBRE	A	3.89%
CCI	D	2.11%
CSGP	F	1.42%
LAMR	B	1.25%
SBAC	C	1.13%
WY	D	0.59%
COMP	D	0.47%

FPRO Underweight 83 Positions Relative to BBRE

Symbol	Grade	Weight
SPG	B	-4.5%
O	C	-4.0%
AVB	A	-2.77%
VICI	D	-2.69%
ESS	D	-1.68%
ARE	F	-1.52%
DOC	A	-1.36%
GLPI	C	-1.13%
BXP	B	-1.13%
HST	C	-1.1%
WPC	F	-1.04%
OHI	A	-0.85%
FRT	A	-0.72%
BRX	B	-0.72%
REXR	F	-0.7%
EGP	F	-0.67%
VNO	B	-0.62%
FR	D	-0.61%
ADC	B	-0.57%
KRG	A	-0.49%
SLG	A	-0.44%
CUZ	B	-0.41%
EPRT	C	-0.4%
SBRA	A	-0.39%
IRT	C	-0.39%
KRC	B	-0.38%
MAC	A	-0.35%
NSA	D	-0.33%
IIPR	B	-0.33%
CDP	A	-0.32%
HIW	B	-0.32%
EPR	C	-0.31%
APLE	B	-0.29%
NHI	C	-0.29%
PK	D	-0.28%
DEI	B	-0.28%
CTRE	A	-0.27%
BNL	D	-0.27%
MPW	D	-0.24%
LXP	D	-0.23%
IVT	A	-0.2%
EQC	C	-0.19%
SHO	B	-0.19%
JBGS	C	-0.17%
ROIC	B	-0.17%
PEB	D	-0.15%
XHR	B	-0.15%
GNL	D	-0.14%
AAT	A	-0.13%
RLJ	D	-0.13%
LTC	A	-0.13%
ESRT	C	-0.13%
GTY	B	-0.12%
VRE	D	-0.12%
AIV	D	-0.12%
ALEX	C	-0.12%
DEA	B	-0.11%
PDM	C	-0.11%
CSR	C	-0.1%
NXRT	D	-0.09%
UMH	C	-0.09%
NTST	F	-0.08%
PLYM	F	-0.08%
AHH	D	-0.08%
PGRE	C	-0.08%
BDN	C	-0.08%
HPP	F	-0.06%
GOOD	B	-0.06%
INN	C	-0.06%
WSR	B	-0.06%
OLP	B	-0.05%
UHT	D	-0.05%
ALX	C	-0.05%
SVC	F	-0.05%
GMRE	D	-0.05%
BFS	D	-0.05%
FPI	C	-0.05%
CLDT	F	-0.04%
DHC	D	-0.04%
CHCT	C	-0.04%
LAND	C	-0.04%
PKST	F	-0.03%
CBL	B	-0.03%