FREL vs. AFSM ETF Comparison

Comparison of Fidelity MSCI Real Estate Index ETF (FREL) to Active Factor Small Cap ETF (AFSM)

FREL

Fidelity MSCI Real Estate Index ETF

FREL Description

The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Real Estate Index. The fund invests at least 80% of assets in securities included in the fund&#39;s underlying index. The fund&#39;s underlying index is the MSCI USA IMI Real Estate Index, which represents the performance of the real estate sector in the U.S. equity market. The fund may or may not hold all of the securities in the MSCI USA IMI Real Estate Index.

Grade (RS Rating)

Last Trade

$29.68

Average Daily Volume

181,496

Number of Holdings ^*

138

* may have additional holdings in another (foreign) market

AFSM

Active Factor Small Cap ETF

AFSM Description

The investment seeks to provide capital appreciation. Under normal market conditions, the fund will invest at least 80% of its net assets (including investment borrowings) in U.S.-listed equity securities issued by small capitalization companies. The manager defines small capitalization companies as those that, at the time of investment, have a market capitalization between a minimum of $250 million and the maximum market capitalization of a widely recognized index of small capitalization companies based upon the composition of the index at the time of investment. It is non-diversified.

Grade (RS Rating)

Last Trade

$30.97

Average Daily Volume

7,766

Number of Holdings ^*

294

* may have additional holdings in another (foreign) market

Performance

Period	FREL	AFSM
30 Days	6.69%	5.08%
60 Days	10.62%	3.76%
90 Days	18.25%	10.79%
12 Months	26.83%	29.53%

12 Overlapping Holdings

Symbol	Grade	Weight in FREL	Weight in AFSM	Overlap
AKR	B	0.16%	0.3%	0.16%
BNL	B	0.22%	0.33%	0.22%
CTRE	C	0.27%	0.08%	0.08%
CUZ	B	0.29%	0.32%	0.29%
HIW	B	0.23%	0.38%	0.23%
KRC	B	0.25%	0.19%	0.19%
NHI	C	0.24%	0.68%	0.24%
PDM	B	0.08%	0.36%	0.08%
PK	D	0.19%	0.21%	0.19%
RMR	C	0.02%	0.5%	0.02%
SBRA	C	0.28%	0.3%	0.28%
SLG	B	0.29%	0.59%	0.29%

FREL Overweight 126 Positions Relative to AFSM

Symbol	Grade	Weight
PLD	C	7.76%
AMT	C	7.12%
EQIX	C	5.3%
WELL	C	4.69%
PSA	B	3.65%
O	C	3.46%
SPG	B	3.44%
CCI	C	3.33%
DLR	B	3.27%
EXR	B	2.42%
CBRE	A	2.32%
VICI	C	2.25%
IRM	C	2.2%
AVB	B	2.11%
CSGP	D	2.05%
VTR	C	1.69%
EQR	B	1.69%
SBAC	C	1.67%
WY	C	1.47%
INVH	C	1.43%
ESS	B	1.28%
MAA	B	1.23%
ARE	C	1.23%
SUI	B	1.15%
KIM	C	1.03%
DOC	C	1.02%
UDR	C	0.93%
GLPI	C	0.92%
WPC	C	0.87%
AMH	C	0.86%
ELS	C	0.85%
REG	C	0.84%
CPT	B	0.84%
HST	C	0.78%
CUBE	B	0.78%
JLL	B	0.77%
BXP	B	0.75%
LAMR	B	0.72%
REXR	C	0.7%
OHI	B	0.64%
Z	B	0.58%
EGP	B	0.58%
NNN	C	0.57%
FRT	C	0.56%
BRX	B	0.53%
COLD	D	0.51%
ADC	C	0.49%
FR	B	0.48%
STAG	C	0.47%
TRNO	C	0.43%
VNO	B	0.38%
RHP	C	0.38%
KRG	B	0.38%
EPRT	B	0.35%
PECO	B	0.3%
IRT	B	0.3%
RYN	C	0.28%
EPR	B	0.24%
PCH	C	0.23%
MAC	B	0.23%
NSA	B	0.23%
MPW	C	0.22%
APLE	D	0.22%
SKT	B	0.22%
LXP	B	0.19%
FCPT	C	0.18%
UE	B	0.17%
DEI	B	0.17%
COMP	C	0.15%
OUT	C	0.15%
DBRG	D	0.15%
HHH	C	0.15%
JOE	C	0.14%
EQC	C	0.14%
CWK	B	0.14%
NMRK	A	0.14%
ROIC	B	0.13%
SHO	C	0.13%
IVT	B	0.13%
GNL	C	0.12%
DRH	C	0.12%
LTC	C	0.11%
ESRT	B	0.1%
PEB	D	0.1%
GTY	B	0.1%
UMH	C	0.09%
RLJ	D	0.09%
RDFN	C	0.09%
ALEX	B	0.09%
XHR	B	0.09%
JBGS	C	0.09%
KW	C	0.08%
UNIT	C	0.08%
NTST	D	0.08%
DEA	B	0.08%
OPEN	D	0.08%
AAT	B	0.08%
PLYM	D	0.07%
MMI	C	0.07%
NXRT	C	0.07%
CSR	B	0.07%
EXPI	C	0.07%
AIV	B	0.07%
BDN	B	0.06%
WSR	D	0.05%
AHH	B	0.05%
SVC	D	0.05%
PGRE	C	0.05%
UHT	B	0.04%
OLP	B	0.04%
ALX	B	0.04%
DHC	B	0.04%
HPP	D	0.04%
GMRE	C	0.04%
INN	A	0.04%
GOOD	B	0.04%
FOR	C	0.04%
FRPH	D	0.03%
CLDT	D	0.03%
LAND	C	0.03%
FPI	D	0.03%
CHCT	F	0.03%
BFS	B	0.03%
PKST	C	0.03%
CBL	D	0.02%
TRC	D	0.02%

FREL Underweight 282 Positions Relative to AFSM

Symbol	Grade	Weight
NHC	D	-1.27%
MLI	A	-1.13%
ALKS	C	-0.97%
IDCC	B	-0.95%
SKYW	C	-0.93%
CPRX	A	-0.89%
ANF	D	-0.88%
MTG	B	-0.85%
MHO	B	-0.84%
RDN	C	-0.83%
PFBC	D	-0.82%
SFM	B	-0.81%
TNK	F	-0.8%
HALO	C	-0.79%
DAKT	D	-0.79%
CRS	B	-0.77%
UVE	C	-0.76%
TMHC	A	-0.72%
CVLT	B	-0.71%
BCC	B	-0.71%
NMIH	B	-0.68%
TBBK	B	-0.67%
EME	B	-0.66%
ZETA	C	-0.64%
NTB	C	-0.64%
BMI	A	-0.63%
COOP	C	-0.63%
HWKN	C	-0.63%
CALM	A	-0.63%
JXN	A	-0.63%
COKE	C	-0.62%
FIX	B	-0.62%
PLUS	A	-0.61%
ACT	B	-0.6%
SANM	D	-0.6%
CRVL	B	-0.6%
OFG	C	-0.6%
GMED	D	-0.6%
MUSA	D	-0.6%
UFPT	B	-0.6%
AROC	D	-0.59%
MCY	D	-0.59%
SUPN	C	-0.59%
STBA	B	-0.59%
LNTH	D	-0.59%
DOLE	A	-0.58%
FDP	C	-0.58%
SLVM	B	-0.58%
KBH	A	-0.58%
HSII	C	-0.57%
GMS	D	-0.56%
STRL	B	-0.56%
PRK	C	-0.56%
APPF	D	-0.54%
CEIX	D	-0.54%
CHCO	B	-0.54%
DFIN	B	-0.54%
HRB	C	-0.53%
PI	B	-0.52%
REZI	D	-0.5%
CAL	F	-0.5%
TEX	F	-0.49%
TGNA	D	-0.49%
AMWD	D	-0.49%
EVER	D	-0.49%
IIPR	B	-0.49%
BELFB	B	-0.49%
BRBR	C	-0.48%
BTU	D	-0.47%
YOU	C	-0.47%
BXC	D	-0.47%
WFRD	F	-0.47%
BLBD	D	-0.46%
VRNT	F	-0.46%
EGBN	C	-0.46%
PINC	C	-0.46%
LPG	F	-0.46%
ADUS	B	-0.46%
DDS	F	-0.45%
PRDO	D	-0.45%
HRMY	B	-0.44%
ESNT	B	-0.44%
PLAB	F	-0.43%
YMAB	C	-0.43%
SPNS	D	-0.42%
CSWI	B	-0.41%
RXST	C	-0.41%
WNC	F	-0.41%
M	F	-0.4%
MTH	A	-0.4%
CCRN	F	-0.39%
ANIP	D	-0.39%
CORT	C	-0.39%
LGND	C	-0.39%
PBF	F	-0.38%
CNXN	B	-0.38%
INMD	D	-0.38%
PRGS	C	-0.37%
TMDX	C	-0.37%
AMR	F	-0.36%
BPMC	F	-0.36%
AVNS	B	-0.36%
GRBK	B	-0.36%
BDC	B	-0.36%
POWL	C	-0.36%
ODP	F	-0.36%
TWI	D	-0.36%
SCS	D	-0.35%
HDSN	D	-0.35%
ASO	C	-0.35%
FBP	C	-0.35%
SIG	C	-0.34%
ATKR	F	-0.34%
CASH	B	-0.33%
LOPE	D	-0.33%
DXC	C	-0.32%
LRN	B	-0.32%
CVNA	B	-0.32%
MOG.A	B	-0.32%
MATX	B	-0.32%
CRAI	D	-0.32%
QTWO	B	-0.32%
ASC	D	-0.31%
HIMS	D	-0.31%
PRMW	B	-0.31%
CNK	C	-0.31%
TRMK	C	-0.31%
APOG	B	-0.31%
VRNS	C	-0.3%
CMC	D	-0.3%
RDNT	B	-0.3%
TILE	B	-0.3%
IBOC	D	-0.3%
BKE	B	-0.3%
GEO	F	-0.3%
PFS	B	-0.3%
HUBG	C	-0.29%
GIII	C	-0.29%
BKH	B	-0.29%
PRG	B	-0.28%
PHIN	B	-0.28%
TCMD	C	-0.28%
ATGE	C	-0.28%
VIRT	C	-0.28%
THFF	B	-0.28%
MEDP	F	-0.28%
GNK	D	-0.27%
INSW	D	-0.27%
PSN	B	-0.27%
DNOW	D	-0.27%
USLM	B	-0.27%
HURN	C	-0.27%
MD	C	-0.27%
MRVI	D	-0.26%
MED	F	-0.26%
BHE	D	-0.26%
AZZ	D	-0.26%
BKU	C	-0.26%
SIGA	D	-0.25%
ADMA	B	-0.25%
VNDA	F	-0.25%
ITCI	D	-0.25%
IMKTA	D	-0.25%
AMKR	F	-0.25%
HCI	C	-0.25%
SMP	C	-0.24%
IESC	C	-0.24%
CMPR	D	-0.24%
ABG	D	-0.24%
ONTO	D	-0.23%
KN	D	-0.23%
HCC	F	-0.23%
NUS	F	-0.23%
NTCT	C	-0.23%
PRM	B	-0.23%
KELYA	D	-0.23%
STNG	D	-0.22%
DHT	D	-0.22%
PIPR	B	-0.22%
INTA	A	-0.22%
HLX	F	-0.22%
ENS	D	-0.22%
SBH	B	-0.22%
LMAT	C	-0.22%
AXSM	C	-0.21%
WABC	D	-0.21%
NAVI	C	-0.21%
HOV	C	-0.21%
XRX	D	-0.21%
TNC	F	-0.21%
NSSC	F	-0.21%
HAE	F	-0.21%
GOGL	D	-0.2%
ADNT	F	-0.2%
NX	F	-0.2%
HY	F	-0.2%
ASGN	D	-0.2%
BLFS	C	-0.2%
SD	D	-0.19%
GES	F	-0.19%
UCTT	F	-0.19%
SXC	F	-0.19%
EXTR	C	-0.19%
VSH	F	-0.19%
VCTR	B	-0.18%
CRDO	D	-0.18%
SCVL	B	-0.18%
AGX	B	-0.17%
SGBX	F	-0.17%
BRC	C	-0.17%
OSCR	B	-0.16%
NVST	D	-0.16%
MAX	C	-0.15%
SCSC	D	-0.15%
CLW	F	-0.15%
HROW	B	-0.15%
CWCO	F	-0.15%
TGTX	C	-0.15%
TPC	C	-0.15%
CECO	D	-0.14%
MOV	F	-0.14%
ALRM	F	-0.14%
TARS	C	-0.14%
INVA	B	-0.13%
AYI	B	-0.13%
CSGS	C	-0.13%
EIG	C	-0.13%
TWST	D	-0.13%
CHRD	F	-0.13%
CGEM	D	-0.13%
METC	F	-0.12%
ASTH	B	-0.12%
SPSC	D	-0.11%
ALKT	D	-0.11%
AIT	A	-0.11%
PCRX	F	-0.11%
YEXT	C	-0.1%
GFF	D	-0.1%
AMCX	F	-0.1%
KRYS	D	-0.09%
RAMP	F	-0.09%
MLKN	D	-0.09%
TPH	C	-0.08%
KTB	B	-0.08%
KSS	F	-0.08%
JWN	C	-0.07%
NSIT	D	-0.07%
OMI	D	-0.07%
AMN	F	-0.07%
WGO	D	-0.07%
COLL	C	-0.06%
EOLS	C	-0.06%
VSTO	C	-0.06%
ATEN	C	-0.05%
FORM	F	-0.05%
ETH	D	-0.05%
REVG	D	-0.05%
OTTR	F	-0.05%
ANDE	D	-0.05%
SWX	C	-0.05%
CTS	D	-0.05%
PHR	D	-0.05%
GRND	C	-0.05%
APAM	C	-0.05%
HE	F	-0.05%
AMPH	C	-0.05%
FTDR	B	-0.05%
OGS	B	-0.05%
EMBC	C	-0.04%
JBI	F	-0.04%
PGNY	F	-0.04%
LBRT	D	-0.04%
TDC	F	-0.04%
SEMR	D	-0.04%
RYI	D	-0.03%
ACLS	F	-0.03%
VITL	D	-0.03%
SWI	B	-0.03%
ACIW	B	-0.02%
MITK	F	-0.0%
MAIN	B	-0.0%
EPAC	B	-0.0%