FQAL vs. FELC ETF Comparison

Comparison of Fidelity Quality Factor ETF (FQAL) to Fidelity Enhanced Large Cap Core ETF (FELC)

FQAL

Fidelity Quality Factor ETF

FQAL Description

The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity U.S. Quality Factor Index. Normally investing at least 80% of assets in securities included in the Fidelity U.S. Quality Factor Index, which is designed to reflect the performance of stocks of large and mid-capitalization U.S. companies with a higher quality profile than the broader market.

Grade (RS Rating)

Last Trade

$67.19

Average Daily Volume

29,912

Number of Holdings ^*

124

* may have additional holdings in another (foreign) market

FELC

Fidelity Enhanced Large Cap Core ETF

FELC Description

The fund will normally invest at least 80% of assets in common stocks included in the S&P 500® Index, which is a market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance. 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

$33.43

Average Daily Volume

581,796

Number of Holdings ^*

170

* may have additional holdings in another (foreign) market

Performance

Period	FQAL	FELC
30 Days	2.60%	3.27%
60 Days	4.35%	5.09%
90 Days	5.86%	6.09%
12 Months	30.56%	33.74%

53 Overlapping Holdings

Symbol	Grade	Weight in FQAL	Weight in FELC	Overlap
AAPL	C	6.62%	7.38%	6.62%
ABBV	D	1.14%	1.02%	1.02%
ADBE	C	0.97%	0.94%	0.94%
ADP	B	0.64%	0.2%	0.2%
AMAT	F	0.77%	0.68%	0.68%
AMT	D	0.27%	0.24%	0.24%
AVGO	D	2.0%	1.72%	1.72%
BKNG	A	1.21%	0.13%	0.13%
BMY	B	1.02%	0.75%	0.75%
CAT	B	0.77%	0.57%	0.57%
CL	D	0.36%	0.47%	0.36%
CME	A	0.85%	0.5%	0.5%
COST	B	1.01%	0.31%	0.31%
CSX	B	0.49%	0.54%	0.49%
CTAS	B	0.55%	0.69%	0.55%
CVX	A	0.68%	0.01%	0.01%
ECL	D	0.24%	0.63%	0.24%
EOG	A	0.32%	0.54%	0.32%
GILD	C	1.0%	0.74%	0.74%
GOOGL	C	3.69%	2.05%	2.05%
GRMN	B	0.86%	0.22%	0.22%
HD	A	1.5%	1.29%	1.29%
IDXX	F	0.67%	0.22%	0.22%
JNJ	D	1.35%	0.74%	0.74%
KLAC	D	0.64%	0.63%	0.63%
LLY	F	1.72%	0.76%	0.76%
LMT	D	0.56%	0.71%	0.56%
LRCX	F	0.67%	0.44%	0.44%
MA	C	1.48%	1.36%	1.36%
MEDP	D	0.57%	0.21%	0.21%
META	D	2.51%	2.89%	2.51%
MMM	D	0.5%	0.13%	0.13%
MSCI	C	0.75%	0.33%	0.33%
MSFT	F	6.3%	5.68%	5.68%
NEE	D	0.47%	0.84%	0.47%
NFLX	A	0.97%	1.3%	0.97%
NRG	B	0.27%	0.11%	0.11%
NUE	C	0.18%	0.2%	0.18%
NVDA	C	7.24%	7.39%	7.24%
PG	A	0.98%	0.72%	0.72%
PGR	A	1.0%	0.74%	0.74%
PM	B	0.63%	0.94%	0.63%
PSA	D	0.23%	0.09%	0.09%
QCOM	F	0.91%	0.88%	0.88%
SPG	B	0.25%	0.59%	0.25%
SPGI	C	0.92%	0.31%	0.31%
T	A	0.57%	0.73%	0.57%
UNP	C	0.61%	0.76%	0.61%
V	A	1.61%	0.82%	0.82%
VEEV	C	0.84%	0.08%	0.08%
VST	B	0.43%	0.12%	0.12%
VZ	C	0.56%	0.06%	0.06%
XOM	B	1.16%	1.56%	1.16%

FQAL Overweight 71 Positions Relative to FELC

Symbol	Grade	Weight
MCD	D	1.11%
BX	A	1.05%
ACN	C	1.05%
LOW	D	1.02%
FICO	B	0.96%
PANW	C	0.96%
AMP	A	0.92%
VRTX	F	0.86%
ORLY	B	0.84%
CPAY	A	0.82%
ZTS	D	0.81%
EWBC	A	0.78%
CFR	B	0.77%
MCO	B	0.76%
AZO	C	0.75%
ABNB	C	0.75%
JXN	C	0.74%
YUM	B	0.72%
ACGL	D	0.71%
CBSH	A	0.71%
DPZ	C	0.69%
KO	D	0.66%
KNSL	B	0.65%
QLYS	C	0.64%
WSM	B	0.63%
MTD	D	0.58%
GWW	B	0.55%
ITW	B	0.54%
FAST	B	0.53%
AME	A	0.52%
LIN	D	0.52%
TDG	D	0.49%
PAYX	C	0.49%
CPRT	A	0.48%
VRSK	A	0.46%
OTIS	C	0.45%
ODFL	B	0.45%
MO	A	0.44%
COP	C	0.41%
TTD	B	0.41%
MDLZ	F	0.38%
SO	D	0.36%
CEG	D	0.36%
WMB	A	0.34%
MNST	C	0.31%
KMB	D	0.31%
TPL	A	0.31%
PLD	D	0.3%
SHW	A	0.3%
LNG	B	0.28%
WEC	A	0.26%
HSY	F	0.25%
FCX	D	0.24%
O	D	0.21%
NFG	A	0.2%
AM	A	0.19%
EXR	D	0.19%
UGI	A	0.19%
AVB	B	0.19%
MLM	B	0.19%
WHD	B	0.18%
VICI	C	0.18%
RS	B	0.17%
EQR	B	0.17%
CF	B	0.17%
SBAC	D	0.16%
ESS	B	0.16%
EXP	A	0.16%
RGLD	C	0.15%
AVY	D	0.15%
GLPI	C	0.14%

FQAL Underweight 117 Positions Relative to FELC

Symbol	Grade	Weight
AMZN	C	-3.93%
BRK.A	B	-2.25%
JPM	A	-1.94%
GOOG	C	-1.9%
TSLA	B	-1.31%
BAC	A	-1.2%
CRM	B	-1.15%
WMT	A	-1.14%
MRK	F	-0.99%
CMCSA	B	-0.86%
SCHW	B	-0.8%
RTX	C	-0.7%
MU	D	-0.66%
CSCO	B	-0.66%
DIS	B	-0.65%
CI	F	-0.63%
BDX	F	-0.62%
NOC	D	-0.6%
TJX	A	-0.59%
SQ	B	-0.58%
UNH	C	-0.57%
ABT	B	-0.56%
CVNA	B	-0.55%
NOW	A	-0.55%
DVN	F	-0.53%
PCAR	B	-0.52%
TXT	D	-0.52%
DBX	B	-0.52%
TT	A	-0.52%
ZM	B	-0.51%
MSI	B	-0.5%
IGT	F	-0.46%
EXEL	B	-0.45%
TRV	B	-0.43%
ANF	C	-0.42%
PFE	D	-0.42%
CACI	D	-0.4%
GE	D	-0.39%
SSNC	B	-0.38%
NSC	B	-0.38%
TDC	D	-0.37%
AON	A	-0.35%
CMG	B	-0.35%
PYPL	B	-0.34%
TMO	F	-0.33%
ALLE	D	-0.33%
AMGN	D	-0.33%
WM	A	-0.32%
MS	A	-0.31%
TMUS	B	-0.31%
CAH	B	-0.31%
AXP	A	-0.31%
TROW	B	-0.31%
PPG	F	-0.3%
SEIC	B	-0.3%
MGM	D	-0.3%
MMC	B	-0.29%
INCY	C	-0.28%
CCL	B	-0.26%
CVS	D	-0.25%
LDOS	C	-0.24%
RSG	A	-0.24%
SKYW	B	-0.23%
GAP	C	-0.22%
LHX	C	-0.21%
LYFT	C	-0.21%
GL	B	-0.21%
ALRM	C	-0.2%
OXY	D	-0.19%
DASH	A	-0.18%
WDAY	B	-0.16%
FTNT	C	-0.15%
GS	A	-0.15%
ED	D	-0.15%
UBER	D	-0.14%
WTW	B	-0.14%
TWLO	A	-0.13%
UNM	A	-0.12%
PNC	B	-0.12%
QRVO	F	-0.12%
NBIX	C	-0.11%
CLX	B	-0.11%
ANET	C	-0.11%
BK	A	-0.11%
F	C	-0.11%
BLD	D	-0.11%
LNW	D	-0.11%
BBWI	D	-0.11%
BIIB	F	-0.1%
PEGA	A	-0.1%
WFC	A	-0.1%
HWM	A	-0.1%
SOLV	C	-0.09%
MKL	A	-0.08%
FR	C	-0.08%
ZBRA	B	-0.06%
MCK	B	-0.06%
DHI	D	-0.06%
STLD	B	-0.06%
ORCL	B	-0.05%
AXTA	A	-0.05%
SCCO	F	-0.05%
PEP	F	-0.05%
PLTK	B	-0.04%
ROST	C	-0.04%
GEHC	F	-0.04%
SYK	C	-0.03%
KR	B	-0.03%
SWKS	F	-0.03%
A	D	-0.03%
CRUS	D	-0.03%
LPLA	A	-0.03%
GPN	B	-0.02%
C	A	-0.02%
DOCU	A	-0.02%
WBD	C	-0.01%
AES	F	-0.01%