FQAL vs. HELO ETF Comparison

Comparison of Fidelity Quality Factor ETF (FQAL) to JPMorgan Hedged Equity Laddered Overlay ETF (HELO)

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

$67.44

Average Daily Volume

29,912

Number of Holdings ^*

124

* may have additional holdings in another (foreign) market

HELO

JPMorgan Hedged Equity Laddered Overlay ETF

HELO Description

The fund seeks to provide capital appreciation through participation in the broad equity markets while hedging overall market exposure relative to traditional long-only equity strategies. Under normal circumstances, it invests at least 80% of its assets in equity securities. The fund uses an enhanced index strategy to invest in equity securities similar to those in the S&P 500 Index, which primarily consist of common stocks of large capitalization U.S. companies.

Grade (RS Rating)

Last Trade

$62.71

Average Daily Volume

282,728

Number of Holdings ^*

161

* may have additional holdings in another (foreign) market

Performance

Period	FQAL	HELO
30 Days	2.60%	1.57%
60 Days	4.35%	3.39%
90 Days	5.86%	4.59%
12 Months	30.56%	20.91%

52 Overlapping Holdings

Symbol	Grade	Weight in FQAL	Weight in HELO	Overlap
AAPL	C	6.62%	6.83%	6.62%
ABBV	D	1.14%	1.14%	1.14%
ACN	C	1.05%	0.21%	0.21%
ADBE	C	0.97%	0.18%	0.18%
AME	A	0.52%	0.06%	0.06%
AMP	A	0.92%	0.2%	0.2%
AVGO	D	2.0%	1.02%	1.02%
AZO	C	0.75%	0.65%	0.65%
BKNG	A	1.21%	0.75%	0.75%
BMY	B	1.02%	0.68%	0.68%
CME	A	0.85%	0.59%	0.59%
COP	C	0.41%	0.81%	0.41%
COST	B	1.01%	0.53%	0.53%
CPAY	A	0.82%	0.47%	0.47%
CSX	B	0.49%	0.41%	0.41%
CVX	A	0.68%	0.18%	0.18%
EOG	A	0.32%	0.47%	0.32%
FICO	B	0.96%	0.12%	0.12%
GOOGL	C	3.69%	2.09%	2.09%
JNJ	D	1.35%	0.51%	0.51%
KO	D	0.66%	0.63%	0.63%
LIN	D	0.52%	0.82%	0.52%
LLY	F	1.72%	1.07%	1.07%
LOW	D	1.02%	0.99%	0.99%
LRCX	F	0.67%	0.37%	0.37%
MA	C	1.48%	1.72%	1.48%
MCD	D	1.11%	0.81%	0.81%
MDLZ	F	0.38%	0.72%	0.38%
META	D	2.51%	2.9%	2.51%
MLM	B	0.19%	0.16%	0.16%
MNST	C	0.31%	0.32%	0.31%
MO	A	0.44%	0.15%	0.15%
MSFT	F	6.3%	7.13%	6.3%
NEE	D	0.47%	0.83%	0.47%
NRG	B	0.27%	0.04%	0.04%
NUE	C	0.18%	0.11%	0.11%
NVDA	C	7.24%	7.8%	7.24%
OTIS	C	0.45%	0.5%	0.45%
PG	A	0.98%	0.14%	0.14%
PGR	A	1.0%	0.75%	0.75%
PLD	D	0.3%	0.5%	0.3%
PM	B	0.63%	0.32%	0.32%
SBAC	D	0.16%	0.31%	0.16%
SO	D	0.36%	0.84%	0.36%
T	A	0.57%	0.18%	0.18%
TDG	D	0.49%	0.52%	0.49%
UNP	C	0.61%	0.17%	0.17%
V	A	1.61%	1.49%	1.49%
VRTX	F	0.86%	0.6%	0.6%
VST	B	0.43%	0.1%	0.1%
XOM	B	1.16%	1.43%	1.16%
YUM	B	0.72%	0.5%	0.5%

FQAL Overweight 72 Positions Relative to HELO

Symbol	Grade	Weight
HD	A	1.5%
BX	A	1.05%
GILD	C	1.0%
NFLX	A	0.97%
PANW	C	0.96%
SPGI	C	0.92%
QCOM	F	0.91%
GRMN	B	0.86%
ORLY	B	0.84%
VEEV	C	0.84%
ZTS	D	0.81%
EWBC	A	0.78%
CAT	B	0.77%
CFR	B	0.77%
AMAT	F	0.77%
MCO	B	0.76%
MSCI	C	0.75%
ABNB	C	0.75%
JXN	C	0.74%
ACGL	D	0.71%
CBSH	A	0.71%
DPZ	C	0.69%
IDXX	F	0.67%
KNSL	B	0.65%
QLYS	C	0.64%
ADP	B	0.64%
KLAC	D	0.64%
WSM	B	0.63%
MTD	D	0.58%
MEDP	D	0.57%
LMT	D	0.56%
VZ	C	0.56%
CTAS	B	0.55%
GWW	B	0.55%
ITW	B	0.54%
FAST	B	0.53%
MMM	D	0.5%
PAYX	C	0.49%
CPRT	A	0.48%
VRSK	A	0.46%
ODFL	B	0.45%
TTD	B	0.41%
CL	D	0.36%
CEG	D	0.36%
WMB	A	0.34%
KMB	D	0.31%
TPL	A	0.31%
SHW	A	0.3%
LNG	B	0.28%
AMT	D	0.27%
WEC	A	0.26%
SPG	B	0.25%
HSY	F	0.25%
FCX	D	0.24%
ECL	D	0.24%
PSA	D	0.23%
O	D	0.21%
NFG	A	0.2%
AM	A	0.19%
EXR	D	0.19%
UGI	A	0.19%
AVB	B	0.19%
WHD	B	0.18%
VICI	C	0.18%
RS	B	0.17%
EQR	B	0.17%
CF	B	0.17%
ESS	B	0.16%
EXP	A	0.16%
RGLD	C	0.15%
AVY	D	0.15%
GLPI	C	0.14%

FQAL Underweight 109 Positions Relative to HELO

Symbol	Grade	Weight
AMZN	C	-4.5%
UNH	C	-1.62%
TSLA	B	-1.58%
BRK.A	B	-1.53%
GOOG	C	-1.46%
BAC	A	-1.26%
CRM	B	-1.15%
WFC	A	-1.0%
HON	B	-0.98%
TT	A	-0.96%
NOW	A	-0.94%
TMO	F	-0.89%
TXN	C	-0.87%
PEP	F	-0.83%
SYK	C	-0.76%
GS	A	-0.75%
NXPI	D	-0.72%
ADI	D	-0.72%
CMCSA	B	-0.71%
DE	A	-0.68%
HWM	A	-0.62%
UBER	D	-0.58%
MU	D	-0.57%
TFC	A	-0.56%
UPS	C	-0.54%
BSX	B	-0.52%
FIS	C	-0.52%
INTU	C	-0.51%
CMG	B	-0.51%
PCG	A	-0.5%
CTSH	B	-0.49%
FITB	A	-0.48%
CARR	D	-0.46%
MDT	D	-0.46%
REGN	F	-0.45%
AMD	F	-0.45%
DHR	F	-0.44%
AON	A	-0.44%
ROST	C	-0.44%
SCHW	B	-0.42%
STX	D	-0.41%
LDOS	C	-0.39%
DLR	B	-0.39%
VTR	C	-0.39%
ETN	A	-0.38%
ORCL	B	-0.36%
HLT	A	-0.36%
DOW	F	-0.35%
TRV	B	-0.34%
RCL	A	-0.34%
CI	F	-0.34%
FDX	B	-0.33%
USB	A	-0.33%
FANG	D	-0.31%
DIS	B	-0.31%
MET	A	-0.3%
C	A	-0.3%
CHD	B	-0.3%
EXPE	B	-0.29%
TXT	D	-0.29%
WELL	A	-0.27%
KVUE	A	-0.26%
CHTR	C	-0.25%
BKR	B	-0.24%
BURL	A	-0.24%
MRK	F	-0.24%
LYB	F	-0.23%
IR	B	-0.23%
DAL	C	-0.23%
MAS	D	-0.23%
PPG	F	-0.21%
AXP	A	-0.21%
BBY	D	-0.2%
KKR	A	-0.2%
ABT	B	-0.19%
ELS	C	-0.19%
HPE	B	-0.18%
PCAR	B	-0.18%
WDC	D	-0.18%
MSI	B	-0.17%
NOC	D	-0.17%
CDNS	B	-0.17%
TMUS	B	-0.17%
MCK	B	-0.16%
HUM	C	-0.16%
ANET	C	-0.15%
LEN	D	-0.14%
MMC	B	-0.14%
TGT	F	-0.14%
SQ	B	-0.14%
URI	B	-0.13%
LULU	C	-0.13%
PFG	D	-0.13%
BIIB	F	-0.12%
HCA	F	-0.11%
DASH	A	-0.11%
CMS	C	-0.1%
APTV	D	-0.1%
WMG	C	-0.1%
NBIX	C	-0.08%
EQIX	A	-0.07%
SIRI	C	-0.07%
EQT	B	-0.06%
BAX	D	-0.06%
MRVL	B	-0.06%
EL	F	-0.05%
BMRN	D	-0.03%
SRPT	D	-0.03%
LKQ	D	-0.02%