FRNW vs. ETEC ETF Comparison

Comparison of Fidelity Clean Energy ETF (FRNW) to iShares Breakthrough Environmental Solutions ETF (ETEC)

FRNW

Fidelity Clean Energy ETF

FRNW Description

The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity Clean Energy Index. Normally investing at least 80% of assets in securities included in the Fidelity Clean Energy Index and in depositary receipts representing securities included in the index. The Fidelity Clean Energy Index is designed to reflect the performance of a global universe of companies across the market capitalization spectrum that distribute, produce or provide technology or equipment to support the production of energy from solar, wind, hydrogen and other renewable sources

Grade (RS Rating)

Last Trade

$16.18

Average Daily Volume

6,832

Number of Holdings ^*

18

* may have additional holdings in another (foreign) market

ETEC

iShares Breakthrough Environmental Solutions ETF

ETEC Description

ETEC provides exposure to global equities categorized as emerging green technology. Selection begins with the initial index universe that then excludes companies involved in controversial issues against UNGC principles. Stocks are reviewed to meet revenue derived from eight sustainable themes: energy efficiency, green buildings and transportation, pollution prevention and reduction, renewable energy, resource efficiency technologies and services, water, and sustainable agriculture, food, and forestry. The fund excludes companies with total sustainable product revenue less than 25%. The remaining stocks are screened further to only include companies classified as green technologies. Stocks are scored within the Rogers innovation adoption curve to determine their position across the innovators-laggards spectrum, which contributes to an aggregate score. The top 50 companies with the highest aggregate scores are selected. The market cap-weighted index is reconstituted annually in December and rebalanced quarterly.

Grade (RS Rating)

Last Trade

$22.64

Average Daily Volume

317

Number of Holdings ^*

8

* may have additional holdings in another (foreign) market

Performance

Period	FRNW	ETEC
30 Days	7.52%	13.09%
60 Days	7.37%	10.01%
90 Days	12.39%	11.80%
12 Months	3.45%	5.51%

3 Overlapping Holdings

	Symbol	Grade	Weight in FRNW	Weight in ETEC	Overlap
	ENPH	D	3.5%	4.0%	3.5%
	FSLR	C	4.1%	3.88%	3.88%
	SEDG	F	0.92%	1.15%	0.92%

FRNW Overweight 15 Positions Relative to ETEC

	Symbol	Grade	Weight
	GEV	B	7.14%
	RUN	D	2.88%
	ORA	B	2.39%
	CWEN	A	2.04%
	AY	B	1.71%
	AMRC	B	1.58%
	BE	F	1.47%
	SHLS	F	1.41%
	RNW	D	1.29%
	PLUG	F	1.22%
	JKS	C	1.15%
	CSIQ	D	1.13%
	RENB	F	1.04%
	ARRY	F	0.91%
	TPIC	C	0.78%

FRNW Underweight 5 Positions Relative to ETEC

	Symbol	Grade	Weight
	BWA	C	-6.1%
	OLED	D	-5.84%
	TSLA	C	-4.0%
	XYL	C	-2.71%
	LCID	C	-1.57%

FRNW: Top Represented Industries & Keywords

Industries: Solar Utilities - Independent Power Producers Utilities - Regulated Electric Utilities - Renewable Biotechnology Diversified Industrials Electronic Components Engineering & Construction Semiconductor Equipment & Materials

Keywords: Electricity Energy Conversion Photovoltaics Solar Power Renewable Energy Solar Energy Photovoltaic System Solar Panel Alternative Energy Inverters S&P 500 Solar Energy Projects Solar Modules Systems Integrator Energy Development Energy Projects Fuel Cell Fuel Cell Systems Hydrogen Hydrogen Economy

ETEC: Top Represented Industries & Keywords

Industries: Auto Manufacturers Semiconductor Equipment & Materials Solar Auto Parts Diversified Industrials

Keywords: S&P 500 Nasdaq 100 Photovoltaic System Photovoltaics Cars Electric Vehicle Electromagnetism Inverter Systems Inverters Motor Vehicles Power Systems Powertrain Renewable Energy Solar Panel Solar Power Solar Power Systems Transport Actuator Alternative Energy Automotive Manufacturers