IPO vs. FFLG ETF Comparison

Comparison of Renaissance IPO ETF (IPO) to Fidelity Fundamental Large Cap Growth ETF (FFLG)

IPO

Renaissance IPO ETF

IPO Description

The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Renaissance IPO Index (the "index"). The fund normally invests at least 80% of its total assets in securities that comprise the fund's benchmark index, the Renaissance IPO Index. The remaining 20% may be used to purchase securities not in the index that are an appropriate substitute for certain securities in the index in order to track the index. The index is comprised of common stocks, American Depositary Receipts ("ADRs"), real estate investment trusts ("REITS") and master limited partnerships ("MLPs"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$38.52

Average Daily Volume

51,952

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FFLG

Fidelity Fundamental Large Cap Growth ETF

FFLG Description

FFLG seeks to achieve long-term capital growth by investing in large-cap companies believed to have above-average growth potential. The adviser generally defines large-caps as companies with similar market capitalizations to Russell 1000 or S&P 500 companies. Growth is measured based on factors such as earnings or revenue. Stocks are selected using fundamental analysis of factors such as financial condition and industry position of each issuer, as well as market and economic conditions. The adviser then incorporates a quantitative portfolio construction process to emphasize securities in which the adviser has high conviction, subject to risk, liquidity, and trading characteristics. The fund invests in both US and non-US companies. Despite its large-cap focus, the fund's strategy can lead to investments in small- and mid-cap companies. Before February 26, 2024, the fund traded as Fidelity Growth Opportunities ETF under the ticker FGRO. The fund previously used a semitransparent ETF structure

Grade (RS Rating)

Last Trade

$21.61

Average Daily Volume

63,304

Number of Holdings ^*

100

* may have additional holdings in another (foreign) market

Performance

Period	IPO	FFLG
30 Days	-5.01%	-1.02%
60 Days	-3.09%	0.37%
90 Days	9.84%	5.78%
12 Months	40.33%	50.07%

7 Overlapping Holdings

Symbol	Grade	Weight in IPO	Weight in FFLG	Overlap
AGL	F	0.54%	0.46%	0.46%
ARM	F	3.87%	0.03%	0.03%
DLO	F	0.48%	0.51%	0.48%
DV	D	1.57%	0.23%	0.23%
GFS	D	1.4%	0.28%	0.28%
MQ	D	0.93%	0.87%	0.87%
NUVL	D	0.65%	0.11%	0.11%

IPO Overweight 38 Positions Relative to FFLG

Symbol	Grade	Weight
KVUE	D	9.85%
COIN	D	9.62%
NU	C	9.54%
APP	B	5.48%
HOOD	C	4.18%
CNM	A	3.67%
PATH	D	2.73%
ONON	C	2.56%
BZ	A	2.42%
DUOL	A	2.41%
RIVN	F	2.26%
CRBG	A	2.24%
YMM	A	2.17%
CFLT	D	2.1%
PCOR	D	2.06%
S	D	1.91%
GTLB	F	1.86%
MNDY	D	1.74%
RYAN	D	1.74%
EDR	A	1.55%
HCP	B	1.17%
TPG	C	1.16%
GLBE	F	1.14%
FRSH	F	1.09%
DOCS	F	0.99%
BRZE	D	0.82%
DOCN	D	0.75%
SQSP	B	0.74%
YOU	F	0.53%
INFA	D	0.51%
BROS	F	0.5%
BIRK	D	0.42%
PYCR	F	0.42%
FLNC	B	0.36%
PWSC	F	0.36%
ACT	A	0.32%
BLCO	F	0.19%
INST	F	0.14%

IPO Underweight 93 Positions Relative to FFLG

Symbol	Grade	Weight
MSFT	C	-10.56%
NVDA	C	-7.82%
META	D	-5.36%
AMZN	A	-5.21%
GOOG	A	-4.66%
UBER	D	-3.45%
TMUS	A	-2.86%
GOOGL	A	-2.8%
ROKU	F	-2.65%
AAPL	C	-2.2%
UNH	C	-2.14%
AMD	D	-1.93%
ON	F	-1.9%
BSX	A	-1.88%
SQ	D	-1.85%
FLEX	D	-1.84%
NXPI	A	-1.81%
SE	B	-1.73%
V	D	-1.57%
GPN	F	-1.32%
LLY	D	-1.25%
VRT	A	-1.2%
LPLA	A	-1.04%
ADBE	D	-1.01%
FND	D	-0.97%
MDB	F	-0.92%
ORCL	D	-0.91%
HUM	F	-0.89%
SNAP	B	-0.87%
EPAM	D	-0.86%
NOW	D	-0.84%
MRVL	D	-0.8%
CRM	D	-0.77%
BA	D	-0.74%
ZI	C	-0.68%
DT	F	-0.67%
CVNA	A	-0.66%
PCG	A	-0.64%
DDOG	C	-0.64%
TSM	C	-0.64%
MA	D	-0.59%
INTU	C	-0.58%
HUBS	D	-0.55%
CYTK	D	-0.55%
NFLX	D	-0.55%
PEN	F	-0.54%
CNC	C	-0.5%
CEG	A	-0.49%
JBL	F	-0.47%
TMDX	A	-0.46%
TMO	C	-0.42%
BJ	C	-0.4%
PCVX	D	-0.4%
LOW	D	-0.4%
DHR	C	-0.38%
AMT	D	-0.38%
INTA	F	-0.36%
AR	A	-0.34%
LYFT	D	-0.29%
MGNI	D	-0.29%
AMAT	C	-0.26%
LITE	D	-0.26%
ACVA	D	-0.25%
ARGX	D	-0.22%
OVV	B	-0.22%
CLDX	C	-0.22%
PANW	B	-0.19%
LULU	F	-0.17%
ETN	A	-0.17%
COHR	D	-0.16%
PSTG	C	-0.15%
BE	C	-0.14%
KO	A	-0.14%
APO	D	-0.12%
MRNA	B	-0.1%
ACN	F	-0.1%
NVO	D	-0.1%
REGN	B	-0.1%
ALNY	D	-0.1%
CHTR	F	-0.09%
ZNTL	F	-0.08%
KROS	D	-0.07%
ALXO	B	-0.06%
SNOW	D	-0.06%
W	C	-0.05%
ANET	D	-0.05%
FSLR	B	-0.05%
AVGO	D	-0.04%
VLTO	A	-0.04%
LEN	C	-0.02%
TSLA	D	-0.01%
ASND	D	-0.0%
ALHC	B	-0.0%