FPRO vs. USRT ETF Comparison

Comparison of Fidelity Real Estate Investment ETF (FPRO) to iShares Core U.S. REIT ETF (USRT)

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

$23.20

Average Daily Volume

5,333

Number of Holdings ^*

* may have additional holdings in another (foreign) market

USRT

iShares Core U.S. REIT ETF

USRT Description

The iShares Core U.S. REIT ETF seeks to track the investment results of an index composed of U.S. real estate equities.

Grade (RS Rating)

Last Trade

$59.15

Average Daily Volume

205,308

Number of Holdings ^*

132

* may have additional holdings in another (foreign) market

Performance

Period	FPRO	USRT
30 Days	-3.30%	-2.78%
60 Days	-2.08%	-1.40%
90 Days	3.54%	4.14%
12 Months	23.95%	30.00%

32 Overlapping Holdings

Symbol	Grade	Weight in FPRO	Weight in USRT	Overlap
AKR	C	0.23%	0.2%	0.2%
AMH	D	2.11%	1.06%	1.06%
COLD	D	2.32%	0.61%	0.61%
CPT	C	1.12%	1.01%	1.01%
CUBE	C	3.41%	0.89%	0.89%
DLR	C	3.25%	4.32%	3.25%
DRH	C	0.65%	0.15%	0.15%
ELME	C	0.43%	0.12%	0.12%
ELS	D	0.42%	1.05%	0.42%
EQIX	B	6.67%	6.89%	6.67%
EQR	C	2.83%	2.33%	2.33%
EXR	C	1.93%	2.85%	1.93%
FCPT	C	0.87%	0.22%	0.22%
INVH	D	1.57%	1.7%	1.57%
IRM	A	0.74%	2.97%	0.74%
KIM	C	4.0%	1.28%	1.28%
LAMR	C	1.25%	0.96%	0.96%
MAA	C	2.91%	1.47%	1.47%
NNN	A	3.64%	0.7%	0.7%
PECO	C	0.78%	0.37%	0.37%
PLD	D	10.5%	9.02%	9.02%
PSA	C	5.96%	4.34%	4.34%
REG	C	1.04%	1.07%	1.04%
RHP	C	0.44%	0.51%	0.44%
SKT	A	0.64%	0.29%	0.29%
STAG	D	1.14%	0.55%	0.55%
SUI	D	2.88%	1.38%	1.38%
TRNO	D	0.77%	0.49%	0.49%
UDR	C	3.53%	1.18%	1.18%
UE	C	1.38%	0.22%	0.22%
VTR	C	5.87%	2.16%	2.16%
WELL	C	4.02%	6.46%	4.02%

FPRO Overweight 7 Positions Relative to USRT

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

FPRO Underweight 100 Positions Relative to USRT

Symbol	Grade	Weight
SPG	A	-4.55%
O	A	-4.47%
VICI	C	-2.77%
AVB	C	-2.64%
ARE	D	-1.63%
ESS	C	-1.56%
DOC	C	-1.3%
BXP	C	-1.12%
GLPI	A	-1.07%
WPC	C	-1.03%
HST	D	-1.0%
OHI	C	-0.83%
REXR	D	-0.78%
FRT	D	-0.76%
EGP	D	-0.7%
BRX	C	-0.68%
VNO	A	-0.62%
ADC	B	-0.6%
FR	C	-0.58%
HR	D	-0.56%
EPRT	C	-0.47%
KRG	C	-0.46%
SLG	C	-0.41%
CUZ	C	-0.39%
LINE	F	-0.39%
KRC	C	-0.39%
CTRE	B	-0.36%
IRT	C	-0.36%
SBRA	C	-0.35%
MAC	C	-0.32%
HIW	C	-0.3%
IIPR	C	-0.3%
EPR	C	-0.29%
CDP	A	-0.29%
BNL	C	-0.28%
APLE	D	-0.27%
NHI	C	-0.26%
MPW	C	-0.24%
NSA	C	-0.24%
LXP	D	-0.23%
PK	D	-0.23%
OUT	C	-0.22%
DEI	A	-0.21%
CURB	D	-0.18%
SHO	D	-0.17%
AHR	C	-0.17%
ROIC	C	-0.16%
IVT	C	-0.16%
GTY	C	-0.13%
GNL	D	-0.13%
ESRT	C	-0.12%
PEB	D	-0.12%
SILA	C	-0.12%
XHR	B	-0.12%
JBGS	C	-0.12%
LTC	D	-0.12%
AAT	C	-0.11%
ALEX	D	-0.11%
PDM	C	-0.11%
DEA	D	-0.11%
VRE	C	-0.11%
RLJ	D	-0.11%
SAFE	C	-0.1%
AIV	C	-0.1%
UMH	C	-0.1%
NTST	D	-0.1%
CSR	D	-0.09%
PGRE	D	-0.08%
NXRT	D	-0.08%
SITC	F	-0.07%
PLYM	D	-0.07%
BDN	A	-0.07%
WSR	C	-0.06%
AHH	F	-0.06%
DHC	B	-0.06%
GMRE	C	-0.05%
SVC	F	-0.05%
HPP	F	-0.05%
CBL	D	-0.05%
GOOD	A	-0.05%
INN	A	-0.05%
OLP	C	-0.04%
NLOP	C	-0.04%
LAND	D	-0.04%
CHCT	F	-0.04%
ALX	C	-0.04%
FPI	D	-0.04%
PKST	D	-0.04%
UHT	C	-0.04%
PSTL	C	-0.03%
CLDT	D	-0.03%
BFS	A	-0.03%
CTO	D	-0.03%
NXDT	C	-0.02%
BRT	D	-0.02%
BHR	C	-0.02%
ONL	D	-0.02%
CIO	C	-0.02%
PINE	C	-0.02%
ILPT	D	-0.02%