FPRO vs. REK ETF Comparison

Comparison of Fidelity Real Estate Investment ETF (FPRO) to ProShares Short Real Estate (REK)

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

$23.90

Average Daily Volume

5,625

Number of Holdings ^*

* may have additional holdings in another (foreign) market

REK

ProShares Short Real Estate

REK 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. Real EstateSM 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 real estate sector of the U.S. equity market. Component companies include, among others, real estate holding and development and real estate services companies and real estate investment trusts ("REITs"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$16.43

Average Daily Volume

10,442

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FPRO	REK
30 Days	-0.38%	0.93%
60 Days	-2.17%	2.61%
90 Days	1.66%	-0.45%
12 Months	21.86%	-15.33%

29 Overlapping Holdings

Symbol	Grade	Weight in FPRO	Weight in REK	Overlap
AMH	D	2.09%	0.54%	0.54%
AMT	D	9.56%	8.05%	8.05%
CBRE	B	4.11%	1.59%	1.59%
CCI	D	2.18%	4.7%	2.18%
COLD	D	2.21%	0.53%	0.53%
CPT	B	1.08%	0.83%	0.83%
CSGP	D	1.36%	1.85%	1.36%
CUBE	D	3.33%	0.47%	0.47%
DLR	B	3.31%	2.02%	2.02%
ELS	C	0.4%	1.0%	0.4%
EQIX	A	7.21%	3.91%	3.91%
EQR	B	2.75%	2.24%	2.24%
EXR	D	1.92%	1.13%	1.13%
INVH	D	1.57%	1.28%	1.28%
KIM	A	3.9%	0.67%	0.67%
LAMR	D	1.29%	0.62%	0.62%
MAA	B	2.02%	1.19%	1.19%
MAC	B	0.34%	0.22%	0.22%
NNN	D	3.78%	0.74%	0.74%
PLD	D	10.01%	4.64%	4.64%
PSA	D	5.89%	2.58%	2.58%
REG	B	0.92%	0.82%	0.82%
RHP	B	0.45%	0.37%	0.37%
SBAC	D	1.17%	2.21%	1.17%
SUI	D	2.69%	1.12%	1.12%
UDR	B	3.51%	1.08%	1.08%
VTR	C	5.69%	1.71%	1.71%
WELL	A	5.23%	2.73%	2.73%
WY	D	0.64%	1.8%	0.64%

FPRO Overweight 11 Positions Relative to REK

Symbol	Grade	Weight
UE	C	1.36%
STAG	F	1.07%
FCPT	C	0.84%
PECO	A	0.77%
TRNO	F	0.73%
SKT	B	0.68%
COMP	B	0.55%
ELME	D	0.42%
AKR	B	0.24%
IVT	B	0.09%
DRH	B	0.02%

FPRO Underweight 58 Positions Relative to REK

Symbol	Grade	Weight
SPG	B	-3.53%
AVB	B	-2.35%
O	D	-1.94%
ESS	B	-1.59%
BXP	D	-1.56%
ARE	D	-1.46%
DOC	D	-1.4%
WPC	D	-1.12%
NLY	C	-1.08%
HST	C	-1.0%
MPW	F	-0.9%
VNO	B	-0.83%
AGNC	D	-0.77%
VICI	C	-0.76%
OHI	C	-0.74%
GLPI	C	-0.72%
FRT	B	-0.71%
IRM	D	-0.7%
JLL	D	-0.69%
KRC	C	-0.63%
AIV	C	-0.61%
SLG	B	-0.58%
STWD	C	-0.56%
DEI	B	-0.54%
CUZ	B	-0.48%
BRX	A	-0.48%
PK	B	-0.46%
HPP	F	-0.45%
EPR	D	-0.44%
HHH	B	-0.42%
FR	C	-0.42%
EGP	F	-0.41%
HIW	D	-0.41%
REXR	F	-0.41%
BXMT	C	-0.39%
JBGS	D	-0.37%
HR	C	-0.36%
SBRA	C	-0.33%
TWO	D	-0.32%
OUT	A	-0.32%
RYN	D	-0.32%
CIM	D	-0.31%
SVC	F	-0.31%
EQC	B	-0.31%
NHI	D	-0.29%
DSS	F	-0.28%
MFA	D	-0.28%
APLE	B	-0.26%
PEB	D	-0.26%
SHO	C	-0.24%
RLJ	C	-0.23%
PDM	D	-0.23%
PCH	D	-0.23%
BDN	C	-0.22%
PGRE	F	-0.22%
LXP	D	-0.21%
IVR	F	-0.19%
XHR	B	-0.18%