HWAY vs. FMAT ETF Comparison

Comparison of Themes US Infrastructure ETF (HWAY) to Fidelity MSCI Materials Index ETF (FMAT)

HWAY

Themes US Infrastructure ETF

HWAY Description

The index is designed to provide exposure to U.S. companies that have business operations involving the building materials, equipment, logistics, construction, and engineering services used for the development and maintenance of infrastructure projects. It will invest, under normal circumstances, at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the securities that comprise the index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$29.16

Average Daily Volume

392

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FMAT

Fidelity MSCI Materials Index ETF

FMAT Description

The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Materials Index. Investing at least 80% of assets in securities included in the fund's underlying index. The fund's underlying index is the MSCI USA IMI Materials Index, which represents the performance of the materials sector in the U.S. equity market. It may or may not hold all of the securities in the MSCI USA IMI Materials Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$54.01

Average Daily Volume

33,943

Number of Holdings ^*

110

* may have additional holdings in another (foreign) market

Performance

Period	HWAY	FMAT
30 Days	7.05%	0.02%
60 Days	9.13%	1.58%
90 Days		3.81%
12 Months		21.02%

18 Overlapping Holdings

Symbol	Grade	Weight in HWAY	Weight in FMAT	Overlap
AA	B	0.78%	0.68%	0.68%
ATI	D	0.53%	0.49%	0.49%
CENX	B	0.09%	0.08%	0.08%
CLF	F	0.4%	0.4%	0.4%
CMC	B	0.52%	0.48%	0.48%
CRS	A	0.65%	0.57%	0.57%
EXP	A	0.67%	0.73%	0.67%
KALU	C	0.09%	0.09%	0.09%
KNF	A	0.38%	0.36%	0.36%
MLM	B	2.52%	2.54%	2.52%
NUE	C	2.47%	2.46%	2.46%
RS	B	1.13%	1.25%	1.13%
STLD	B	1.42%	1.44%	1.42%
SUM	B	0.43%	0.42%	0.42%
USLM	A	0.07%	0.11%	0.07%
VMC	B	2.62%	2.62%	2.62%
WS	B	0.11%	0.1%	0.1%
X	C	0.64%	0.57%	0.57%

HWAY Overweight 79 Positions Relative to FMAT

Symbol	Grade	Weight
EMR	A	4.96%
CSX	B	4.32%
NSC	B	4.21%
DE	A	4.18%
UNP	C	4.15%
CAT	B	4.1%
URI	B	3.91%
GWW	B	3.71%
PWR	A	3.43%
FAST	B	3.3%
WAB	B	2.45%
XYL	D	2.11%
DOV	A	1.95%
EME	C	1.65%
BLDR	D	1.46%
CSL	C	1.44%
OC	A	1.21%
IEX	B	1.2%
J	F	1.2%
FIX	A	1.16%
GGG	B	1.08%
ACM	A	1.02%
POOL	C	0.97%
TTEK	F	0.78%
MLI	C	0.77%
AIT	A	0.75%
BLD	D	0.74%
FLR	B	0.68%
WCC	B	0.67%
DCI	B	0.65%
WMS	D	0.63%
CR	A	0.62%
UFPI	B	0.59%
OSK	B	0.54%
R	B	0.53%
VMI	B	0.52%
TREX	C	0.52%
SSD	D	0.52%
APG	B	0.47%
AZEK	A	0.46%
AGCO	D	0.46%
WTS	B	0.45%
VNT	B	0.44%
ZWS	B	0.43%
HRI	B	0.41%
SKY	A	0.41%
DY	D	0.41%
STRL	B	0.41%
ACA	A	0.38%
BCC	B	0.38%
SWX	B	0.34%
GVA	A	0.32%
ROAD	A	0.29%
MDU	D	0.27%
MSM	C	0.27%
TEX	D	0.26%
VRRM	D	0.26%
NPO	A	0.26%
ATKR	C	0.25%
TRN	C	0.23%
CVCO	A	0.22%
MYRG	B	0.17%
ROCK	C	0.16%
AZZ	B	0.16%
GBX	A	0.15%
ALG	B	0.14%
HEES	B	0.14%
AGX	B	0.13%
HLIO	B	0.12%
APOG	B	0.12%
DNOW	B	0.11%
LNN	B	0.1%
BXC	B	0.09%
NVEE	F	0.09%
MRC	B	0.08%
TPC	C	0.07%
JBI	F	0.07%
GLDD	B	0.03%
NVRI	F	0.02%

HWAY Underweight 92 Positions Relative to FMAT

Symbol	Grade	Weight
LIN	D	-15.3%
SHW	A	-6.57%
APD	A	-4.93%
ECL	D	-4.47%
FCX	D	-4.36%
NEM	D	-3.29%
CTVA	C	-2.81%
DD	D	-2.44%
DOW	F	-2.2%
PPG	F	-2.03%
SW	A	-1.84%
IFF	D	-1.6%
LYB	F	-1.51%
PKG	A	-1.49%
BALL	D	-1.35%
IP	B	-1.32%
RPM	A	-1.23%
AVY	D	-1.13%
CF	B	-1.1%
AMCR	D	-1.03%
ALB	C	-0.84%
EMN	D	-0.83%
ATR	B	-0.81%
CCK	C	-0.76%
RGLD	C	-0.65%
AXTA	A	-0.63%
GPK	C	-0.61%
MOS	F	-0.59%
CE	F	-0.57%
BERY	B	-0.53%
LPX	B	-0.51%
FMC	D	-0.49%
ESI	A	-0.46%
CBT	C	-0.42%
BCPC	B	-0.4%
SON	D	-0.35%
OLN	D	-0.35%
SEE	C	-0.35%
WLK	D	-0.34%
AVNT	B	-0.33%
SLGN	A	-0.32%
FUL	F	-0.29%
NEU	C	-0.27%
ASH	D	-0.26%
HCC	B	-0.24%
HL	D	-0.23%
HUN	F	-0.22%
SMG	D	-0.22%
SLVM	B	-0.21%
IOSP	B	-0.21%
SXT	B	-0.2%
ARCH	B	-0.2%
CC	C	-0.2%
AMR	C	-0.18%
MTX	B	-0.18%
MTRN	C	-0.17%
KWR	C	-0.17%
HWKN	B	-0.17%
CDE	D	-0.17%
MP	B	-0.16%
OI	C	-0.14%
GEF	A	-0.12%
PRM	C	-0.12%
SCL	C	-0.12%
NGVT	B	-0.11%
TROX	D	-0.09%
PCT	C	-0.09%
ASPN	F	-0.07%
TRS	B	-0.07%
OEC	C	-0.07%
SXC	A	-0.07%
KOP	C	-0.06%
ASIX	A	-0.06%
ECVT	C	-0.06%
MATV	D	-0.05%
GATO	D	-0.05%
IE	C	-0.05%
RYI	C	-0.05%
HAYN	C	-0.05%
PTVE	B	-0.04%
MTUS	C	-0.04%
METC	C	-0.03%
MYE	F	-0.03%
ZEUS	C	-0.03%
CMP	C	-0.03%
CLW	F	-0.03%
LXU	B	-0.03%
RDUS	C	-0.03%
MERC	F	-0.02%
KRO	D	-0.02%
PACK	B	-0.02%
GEF	A	-0.02%