FQAL vs. IWLG ETF Comparison

Comparison of Fidelity Quality Factor ETF (FQAL) to IQ MacKay Municipal Insured ETF (IWLG)

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

$64.61

Average Daily Volume

30,621

Number of Holdings ^*

124

* may have additional holdings in another (foreign) market

IWLG

IQ MacKay Municipal Insured ETF

IWLG Description

IQ MacKay Municipal Insured ETF seek long-term growth of capital by employing a bottom-up investment process while investing in companies that have the potential for above-average future earnings and cash flow growth. IQ MacKay Municipal Insured ETF is domiciled in the United States.

Grade (RS Rating)

Last Trade

$45.31

Average Daily Volume

8,978

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FQAL	IWLG
30 Days	2.26%	3.45%
60 Days	5.40%	6.19%
90 Days	5.70%	1.71%
12 Months	32.29%	48.14%

17 Overlapping Holdings

Symbol	Grade	Weight in FQAL	Weight in IWLG	Overlap
AAPL	C	6.87%	8.05%	6.87%
ADBE	F	1.03%	2.05%	1.03%
AME	C	0.47%	0.96%	0.47%
AVGO	C	2.07%	3.77%	2.07%
BKNG	B	1.0%	0.48%	0.48%
FICO	B	0.83%	1.49%	0.83%
GOOGL	D	3.54%	3.78%	3.54%
HD	B	1.46%	1.07%	1.07%
LLY	D	2.16%	1.81%	1.81%
LRCX	D	0.77%	1.66%	0.77%
MA	B	1.43%	1.38%	1.38%
META	B	2.58%	4.1%	2.58%
MSFT	C	6.8%	11.19%	6.8%
NFLX	B	0.84%	1.01%	0.84%
NVDA	C	6.13%	8.58%	6.13%
ORLY	B	0.79%	1.19%	0.79%
V	C	1.52%	1.43%	1.43%

FQAL Overweight 107 Positions Relative to IWLG

Symbol	Grade	Weight
JNJ	C	1.47%
ABBV	B	1.37%
XOM	D	1.15%
MCD	B	1.14%
ACN	C	1.02%
COST	C	1.02%
PGR	C	1.02%
LOW	B	1.01%
QCOM	D	1.01%
PG	C	1.01%
SPGI	C	0.98%
GILD	B	0.97%
BX	C	0.94%
AMAT	D	0.92%
BMY	C	0.91%
ZTS	B	0.91%
VRTX	D	0.9%
VEEV	C	0.86%
PANW	D	0.85%
IDXX	D	0.84%
CME	B	0.83%
KLAC	D	0.82%
MCO	C	0.81%
ACGL	B	0.79%
AMP	B	0.78%
KO	B	0.77%
CAT	B	0.76%
ABNB	D	0.75%
AZO	B	0.75%
GRMN	D	0.73%
YUM	B	0.73%
MTD	C	0.73%
WSM	C	0.73%
CPAY	B	0.72%
MSCI	C	0.71%
JXN	B	0.69%
MEDP	F	0.69%
DPZ	D	0.68%
UNP	D	0.66%
CBSH	D	0.65%
KNSL	D	0.65%
CFR	C	0.65%
EWBC	C	0.64%
CVX	F	0.63%
ADP	C	0.61%
VZ	A	0.61%
LMT	A	0.61%
PM	C	0.6%
LIN	B	0.56%
QLYS	D	0.55%
TDG	B	0.55%
T	B	0.55%
CTAS	C	0.53%
MMM	B	0.53%
NEE	B	0.52%
ITW	B	0.52%
CSX	C	0.5%
GWW	B	0.49%
FAST	C	0.47%
PAYX	C	0.47%
VRSK	D	0.45%
OTIS	B	0.45%
CPRT	D	0.45%
MDLZ	C	0.45%
ODFL	D	0.44%
COP	F	0.41%
CL	C	0.4%
MO	C	0.4%
TTD	B	0.39%
SO	B	0.37%
PLD	C	0.35%
CEG	C	0.34%
AMT	C	0.33%
KMB	C	0.33%
SHW	B	0.31%
MNST	D	0.31%
EOG	D	0.3%
VST	B	0.29%
HSY	D	0.29%
WMB	C	0.28%
ECL	B	0.26%
FCX	C	0.26%
LNG	D	0.25%
PSA	C	0.25%
WEC	B	0.25%
NRG	B	0.24%
O	B	0.23%
SPG	B	0.23%
TPL	C	0.22%
EXR	C	0.21%
NFG	B	0.2%
MLM	D	0.19%
VICI	C	0.19%
NUE	D	0.19%
AVB	C	0.19%
UGI	B	0.19%
AM	B	0.18%
EQR	C	0.18%
ESS	C	0.17%
CF	B	0.17%
WHD	D	0.17%
SBAC	C	0.17%
RS	D	0.16%
AVY	C	0.16%
EXP	B	0.16%
RGLD	C	0.15%
GLPI	C	0.15%

FQAL Underweight 24 Positions Relative to IWLG

Symbol	Grade	Weight
AMZN	C	-8.63%
GOOG	D	-3.2%
SPOT	C	-2.43%
INTU	D	-2.42%
ISRG	C	-2.28%
KKR	B	-2.16%
CMG	D	-1.79%
GE	C	-1.69%
TT	B	-1.67%
NOW	C	-1.65%
MELI	C	-1.52%
WDAY	D	-1.48%
UBER	C	-1.44%
ETN	C	-1.37%
SNPS	F	-1.23%
ASML	F	-1.21%
UNH	C	-1.16%
ABT	C	-1.13%
SYK	C	-1.12%
WCN	D	-1.06%
BSX	B	-0.98%
HLT	B	-0.96%
AMD	C	-0.48%
VMC	C	-0.33%