FVAL vs. SPHQ ETF Comparison

Comparison of Fidelity Value Factor ETF (FVAL) to PowerShares S&P 500 High Quality Portfolio (SPHQ)

FVAL

Fidelity Value Factor ETF

FVAL Description

The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity U.S. Value Factor Index. Normally investing at least 80% of assets in securities included in the Fidelity U.S. Value Factor Index, which is designed to reflect the performance of stocks of large and mid-capitalization U.S. companies that have attractive valuations.

Grade (RS Rating)

Last Trade

$63.26

Average Daily Volume

81,569

Number of Holdings ^*

124

* may have additional holdings in another (foreign) market

SPHQ

PowerShares S&P 500 High Quality Portfolio

SPHQ Description

The PowerShares S&P 500Â® High Quality Portfolio (Fund) is based on the S&P 500Â® High Quality Rankings Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to provide exposure to the constituents of the S&P 500 Index that are identified as stocks reflecting long-term growth and stability of a company's earnings and dividends. The Fund and the Index are rebalanced and reconstituted quarterly.

Grade (RS Rating)

Last Trade

$68.34

Average Daily Volume

861,359

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FVAL	SPHQ
30 Days	3.33%	2.20%
60 Days	5.59%	1.70%
90 Days	6.82%	3.87%
12 Months	28.35%	32.58%

21 Overlapping Holdings

Symbol	Grade	Weight in FVAL	Weight in SPHQ	Overlap
AAPL	C	6.68%	4.97%	4.97%
ADM	D	0.35%	0.26%	0.26%
ADP	B	0.64%	2.01%	0.64%
CAT	B	0.77%	2.01%	0.77%
CMI	A	0.52%	0.57%	0.52%
CNC	D	0.54%	0.36%	0.36%
CTSH	B	0.76%	0.37%	0.37%
EBAY	D	0.51%	0.34%	0.34%
EG	C	0.5%	0.16%	0.16%
JNJ	D	1.31%	4.84%	1.31%
KMB	D	0.41%	0.52%	0.41%
KVUE	A	0.52%	0.46%	0.46%
LMT	D	0.56%	1.65%	0.56%
LYB	F	0.15%	0.21%	0.15%
MPC	D	0.24%	0.58%	0.24%
MSFT	F	6.37%	4.5%	4.5%
PG	A	1.08%	3.89%	1.08%
QCOM	F	1.0%	2.2%	1.0%
SWKS	F	0.56%	0.14%	0.14%
V	A	1.44%	5.29%	1.44%
VLO	C	0.22%	0.44%	0.22%

FVAL Overweight 103 Positions Relative to SPHQ

Symbol	Grade	Weight
NVDA	C	7.33%
AMZN	C	3.88%
GOOGL	C	3.72%
META	D	2.55%
BRK.A	B	2.07%
JPM	A	1.84%
UNH	C	1.69%
CRM	B	1.46%
HD	A	1.22%
ACN	C	1.15%
XOM	B	1.14%
BAC	A	1.13%
ABBV	D	1.11%
IBM	C	1.09%
WFC	A	1.08%
WMT	A	1.07%
MRK	F	1.01%
BMY	B	0.98%
ZM	B	0.98%
GILD	C	0.97%
BKNG	A	0.87%
MU	D	0.85%
UAL	A	0.84%
MCD	D	0.84%
AXP	A	0.83%
CI	F	0.81%
HPE	B	0.81%
INTC	D	0.77%
C	A	0.74%
COF	B	0.72%
CVS	D	0.71%
TRV	B	0.68%
DFS	B	0.68%
HON	B	0.68%
SYF	B	0.67%
ELV	F	0.67%
GM	B	0.67%
CVX	A	0.67%
EXPE	B	0.66%
DAL	C	0.64%
T	A	0.62%
CMCSA	B	0.61%
VZ	C	0.61%
RPRX	D	0.61%
UNP	C	0.61%
DE	A	0.59%
JXN	C	0.56%
PRU	A	0.56%
LVS	C	0.55%
UPS	C	0.55%
MO	A	0.55%
RNR	C	0.54%
LIN	D	0.53%
PCAR	B	0.53%
F	C	0.51%
OZK	B	0.51%
WYNN	D	0.5%
MMM	D	0.5%
G	B	0.49%
TGT	F	0.48%
FDX	B	0.48%
NEE	D	0.46%
RHI	B	0.44%
KR	B	0.43%
OC	A	0.42%
COP	C	0.4%
M	D	0.39%
AGCO	D	0.38%
ACI	C	0.34%
DUK	C	0.34%
PLD	D	0.32%
BG	F	0.32%
EOG	A	0.31%
PCG	A	0.29%
PARA	C	0.28%
SPG	B	0.27%
EXC	C	0.26%
ATKR	C	0.26%
NRG	B	0.26%
AEP	D	0.26%
PSA	D	0.25%
FCX	D	0.24%
O	D	0.23%
CBRE	B	0.23%
NFG	A	0.2%
VICI	C	0.2%
NUE	C	0.19%
NEM	D	0.19%
BXP	D	0.18%
DVN	F	0.18%
CF	B	0.18%
STLD	B	0.18%
UGI	A	0.18%
HST	C	0.17%
JLL	D	0.17%
WPC	D	0.16%
ARE	D	0.16%
GLPI	C	0.16%
DOW	F	0.16%
CIVI	D	0.13%
MOS	F	0.13%
MUR	D	0.13%
CLF	F	0.11%

FVAL Underweight 78 Positions Relative to SPHQ

Symbol	Grade	Weight
MA	C	-5.45%
AVGO	D	-5.28%
COST	B	-4.29%
NFLX	A	-4.24%
ADBE	C	-2.87%
CSCO	B	-2.61%
PEP	F	-2.26%
GE	D	-2.02%
INTU	C	-1.83%
AMAT	F	-1.68%
PGR	A	-1.63%
TJX	A	-1.54%
PANW	C	-1.24%
ITW	B	-1.16%
NKE	D	-1.08%
LRCX	F	-1.06%
KLAC	D	-1.05%
SHW	A	-1.01%
MDLZ	F	-0.9%
EMR	A	-0.88%
AMP	A	-0.86%
ADSK	A	-0.86%
CTAS	B	-0.76%
ZTS	D	-0.74%
MCO	B	-0.73%
PAYX	C	-0.66%
IT	C	-0.64%
GWW	B	-0.59%
FAST	B	-0.59%
ROST	C	-0.47%
COR	B	-0.46%
VRSK	A	-0.45%
MLM	B	-0.44%
MCHP	D	-0.43%
LEN	D	-0.42%
ACGL	D	-0.41%
ROK	B	-0.4%
IDXX	F	-0.4%
GEHC	F	-0.4%
MNST	C	-0.4%
LULU	C	-0.38%
SYY	B	-0.37%
A	D	-0.37%
EA	A	-0.37%
VMC	B	-0.37%
DD	D	-0.32%
NVR	D	-0.3%
DECK	A	-0.29%
BR	A	-0.27%
BALL	D	-0.27%
KEYS	A	-0.26%
K	A	-0.26%
HSY	F	-0.26%
VLTO	D	-0.26%
TROW	B	-0.26%
CDW	F	-0.25%
CLX	B	-0.24%
BLDR	D	-0.24%
CINF	A	-0.23%
LH	C	-0.23%
EXPD	D	-0.21%
ULTA	F	-0.21%
OMC	C	-0.2%
STE	F	-0.2%
BAX	D	-0.19%
POOL	C	-0.19%
JBL	B	-0.19%
HOLX	D	-0.17%
FFIV	B	-0.15%
CHRW	C	-0.14%
JKHY	D	-0.13%
AOS	F	-0.11%
APA	D	-0.1%
MKTX	D	-0.1%
BWA	D	-0.1%
PAYC	B	-0.1%
RL	B	-0.09%
SOLV	C	-0.09%