JQUA vs. FBUF ETF Comparison

Comparison of JPMorgan U.S. Quality Factor ETF (JQUA) to Fidelity Dynamic Buffered Equity ETF (FBUF)

JQUA

JPMorgan U.S. Quality Factor ETF

JQUA Description

The investment seeks investment results that closely correspond, before fees and expenses, to the performance of the JP Morgan US Quality Factor Index. The fund will invest at least 80% of its assets in securities included in the underlying index. Assets means net assets, plus the amount of borrowing for investment purposes. The underlying index is comprised of U.S. equity securities selected to represent quality factor characteristics.

Grade (RS Rating)

Last Trade

$59.18

Average Daily Volume

481,509

Number of Holdings ^*

278

* may have additional holdings in another (foreign) market

FBUF

Fidelity Dynamic Buffered Equity ETF

FBUF Description

FBUF seeks capital appreciation by investing in a large-cap equity portfolio of US and foreign stocks while utilizing a defensive options collar strategy. The fund aims to outperform the S&P 500 by picking stocks using a computer-aided, quantitative analysis of historical valuation, growth, and profitability, among other factors. The proprietary process seeks to find the optimal portfolio holdings, overweight stocks with positive characteristics, and manage benchmark relative risks. For the options strategy, the fund typically buys out-of-the-money put options on the S&P 500 Index and simultaneously sells out-of-the-money S&P 500 Index call options. Premium earned from writing calls is intended to offset the cost of buying puts, but this essentially caps the upside returns of the equity portfolio. For a continuous downside hedge, the adviser selects put options through a laddered approach that rolls monthly. The adviser diversifies the written call positions, which are rolled weekly, with different strike prices and expiration dates.

Grade (RS Rating)

Last Trade

$27.53

Average Daily Volume

5,177

Number of Holdings ^*

155

* may have additional holdings in another (foreign) market

Performance

Period	JQUA	FBUF
30 Days	4.45%	3.10%
60 Days	5.31%	4.70%
90 Days	7.31%	6.08%
12 Months	31.33%

73 Overlapping Holdings

Symbol	Grade	Weight in JQUA	Weight in FBUF	Overlap
AAPL	C	1.86%	7.34%	1.86%
ABBV	D	1.17%	0.91%	0.91%
ABT	B	0.85%	0.63%	0.63%
ADBE	C	0.84%	0.94%	0.84%
ADP	B	0.58%	0.26%	0.26%
AMAT	F	0.68%	0.67%	0.67%
AMT	D	0.16%	0.21%	0.16%
AON	A	0.42%	0.12%	0.12%
AVGO	D	1.25%	1.62%	1.25%
BDX	F	0.4%	0.58%	0.4%
BMY	B	0.61%	0.74%	0.61%
BRK.A	B	1.86%	2.2%	1.86%
CL	D	0.39%	0.55%	0.39%
CLX	B	0.22%	0.14%	0.14%
COST	B	1.51%	0.3%	0.3%
CRM	B	1.3%	1.16%	1.16%
CRUS	D	0.11%	0.07%	0.07%
CSCO	B	1.02%	0.8%	0.8%
CTAS	B	0.47%	0.65%	0.47%
CVX	A	0.72%	0.02%	0.02%
DASH	A	0.43%	0.11%	0.11%
DBX	B	0.24%	0.52%	0.24%
DOCU	A	0.31%	0.09%	0.09%
ED	D	0.21%	0.1%	0.1%
EOG	A	0.37%	0.48%	0.37%
FTNT	C	0.44%	0.2%	0.2%
GEN	B	0.16%	0.13%	0.13%
GILD	C	0.6%	0.74%	0.6%
GOOGL	C	1.89%	2.04%	1.89%
HD	A	1.51%	1.32%	1.32%
IDXX	F	0.28%	0.15%	0.15%
INTU	C	0.82%	0.12%	0.12%
ITW	B	0.44%	0.14%	0.14%
JNJ	D	1.4%	0.73%	0.73%
KLAC	D	0.46%	0.61%	0.46%
LDOS	C	0.2%	0.31%	0.2%
LMT	D	0.58%	0.71%	0.58%
LRCX	F	0.46%	0.24%	0.24%
MA	C	1.58%	1.36%	1.36%
MEDP	D	0.23%	0.28%	0.23%
META	D	2.07%	2.89%	2.07%
MMC	B	0.53%	0.53%	0.53%
MMM	D	0.33%	0.19%	0.19%
MRK	F	0.99%	0.96%	0.96%
MSFT	F	1.72%	5.66%	1.72%
MSI	B	0.34%	0.43%	0.34%
NOW	A	0.88%	0.5%	0.5%
NRG	B	0.15%	0.09%	0.09%
NVDA	C	2.22%	7.37%	2.22%
ORCL	B	0.97%	0.04%	0.04%
PEGA	A	0.15%	0.02%	0.02%
PG	A	1.33%	0.8%	0.8%
PGR	A	0.43%	0.67%	0.43%
PSA	D	0.35%	0.17%	0.17%
QCOM	F	0.76%	0.85%	0.76%
QRVO	F	0.1%	0.06%	0.06%
RSG	A	0.34%	0.23%	0.23%
SEIC	B	0.25%	0.54%	0.25%
SPG	B	0.29%	0.44%	0.29%
SPGI	C	0.53%	0.21%	0.21%
SSNC	B	0.13%	0.18%	0.13%
T	A	0.3%	0.71%	0.3%
TDC	D	0.15%	0.35%	0.15%
TJX	A	0.63%	0.72%	0.63%
TRV	B	0.39%	0.26%	0.26%
TWLO	A	0.22%	0.09%	0.09%
UNP	C	0.66%	0.75%	0.66%
UTHR	C	0.27%	0.04%	0.04%
V	A	1.83%	0.65%	0.65%
WM	A	0.5%	0.41%	0.41%
WMT	A	0.21%	0.82%	0.21%
XOM	B	1.71%	1.56%	1.56%
ZM	B	0.19%	0.53%	0.19%

JQUA Overweight 205 Positions Relative to FBUF

Symbol	Grade	Weight
ACN	C	0.88%
LIN	D	0.88%
MCD	D	0.87%
APP	B	0.86%
BKNG	A	0.79%
KO	D	0.76%
IBM	C	0.67%
PANW	C	0.63%
PLTR	B	0.62%
BLK	C	0.62%
SBUX	A	0.56%
ADI	D	0.53%
APH	A	0.51%
MO	A	0.5%
NKE	D	0.48%
CB	C	0.47%
SNPS	B	0.46%
VZ	C	0.46%
CDNS	B	0.45%
MCO	B	0.44%
ZTS	D	0.44%
ORLY	B	0.43%
MAR	B	0.43%
CRWD	B	0.41%
GWW	B	0.41%
REGN	F	0.41%
COP	C	0.4%
AJG	B	0.39%
AFL	B	0.39%
AMP	A	0.38%
MRVL	B	0.38%
CPRT	A	0.37%
LULU	C	0.37%
ICE	C	0.36%
EA	A	0.35%
CTSH	B	0.34%
IT	C	0.34%
PAYX	C	0.34%
TEAM	A	0.33%
VRSK	A	0.33%
DECK	A	0.32%
ROST	C	0.31%
A	D	0.31%
EBAY	D	0.3%
BRO	B	0.29%
BR	A	0.29%
ACGL	D	0.29%
KMB	D	0.29%
RMD	C	0.29%
NDAQ	A	0.29%
WDAY	B	0.29%
DDOG	A	0.29%
WEC	A	0.29%
CSL	C	0.28%
ABNB	C	0.28%
VRT	B	0.28%
WSO	A	0.27%
EXPE	B	0.27%
ROP	B	0.27%
NVR	D	0.27%
YUM	B	0.27%
FFIV	B	0.27%
MANH	D	0.26%
ALSN	B	0.26%
RNG	B	0.26%
MCHP	D	0.26%
WRB	A	0.25%
WY	D	0.25%
CLH	B	0.25%
WSM	B	0.24%
HOLX	D	0.24%
EW	C	0.24%
HST	C	0.24%
KEYS	A	0.24%
PAYC	B	0.24%
MCK	B	0.24%
LOPE	B	0.23%
LAMR	D	0.23%
MTD	D	0.23%
EXR	D	0.23%
LEN	D	0.23%
POOL	C	0.23%
CTRA	B	0.23%
FDS	B	0.23%
LSTR	D	0.22%
TOST	B	0.22%
VRSN	F	0.22%
SNOW	C	0.22%
HIG	B	0.22%
LECO	B	0.22%
JAZZ	B	0.22%
DRI	B	0.22%
HPQ	B	0.21%
GGG	B	0.21%
IEX	B	0.21%
CHE	D	0.21%
SCCO	F	0.21%
MAA	B	0.21%
DOX	D	0.21%
EXPD	D	0.21%
ROL	B	0.21%
OGE	B	0.21%
CF	B	0.2%
ZS	C	0.2%
TPR	B	0.2%
DT	C	0.2%
TER	D	0.2%
HRB	D	0.2%
DVA	B	0.2%
CBOE	B	0.2%
FNF	B	0.19%
HPE	B	0.19%
ANSS	B	0.19%
BLDR	D	0.19%
LSCC	D	0.19%
TYL	B	0.19%
DKS	C	0.19%
CBSH	A	0.19%
PSTG	D	0.19%
NTAP	C	0.18%
SWKS	F	0.18%
AKAM	D	0.18%
PEN	B	0.18%
MPWR	F	0.17%
NFG	A	0.17%
SOLV	C	0.17%
NTNX	A	0.17%
UGI	A	0.16%
AYI	B	0.16%
DLB	B	0.16%
SAIC	F	0.16%
EPAM	C	0.16%
JBL	B	0.16%
EXP	A	0.16%
STE	F	0.16%
DCI	B	0.16%
CDW	F	0.16%
BBY	D	0.15%
RPM	A	0.15%
CRI	D	0.15%
PINS	D	0.15%
WMS	D	0.15%
MSGS	A	0.15%
AFG	A	0.14%
ELS	C	0.14%
CNM	D	0.14%
CHD	B	0.14%
EVRG	A	0.14%
PRI	A	0.14%
JKHY	D	0.14%
MTSI	B	0.14%
RPRX	D	0.14%
ULTA	F	0.14%
SMAR	A	0.13%
MSM	C	0.13%
PCOR	B	0.13%
CCI	D	0.12%
DXC	B	0.12%
OKTA	C	0.12%
PEG	A	0.12%
ENTG	D	0.12%
PATH	C	0.12%
WU	D	0.12%
GWRE	A	0.11%
SKX	D	0.11%
YETI	C	0.11%
NDSN	B	0.11%
BSY	D	0.11%
TSCO	D	0.11%
DV	C	0.11%
MTCH	D	0.11%
CNC	D	0.11%
AOS	F	0.11%
TPL	A	0.11%
COR	B	0.1%
WH	B	0.1%
CPT	B	0.1%
RLI	B	0.1%
BYD	C	0.1%
CHH	A	0.09%
ZI	D	0.09%
COKE	C	0.09%
LPX	B	0.09%
FAST	B	0.09%
ATO	A	0.09%
IPGP	D	0.09%
OLN	D	0.09%
QGEN	D	0.08%
EQR	B	0.08%
MPC	D	0.08%
SIRI	C	0.08%
INGR	B	0.08%
PINC	B	0.07%
GLPI	C	0.07%
TECH	D	0.06%
RS	B	0.06%
PHM	D	0.06%
WAT	B	0.06%
CUBE	D	0.05%
UPS	C	0.04%
GNTX	C	0.04%
AM	A	0.03%
CHRW	C	0.02%
VIRT	B	0.01%
SNX	C	0.0%

JQUA Underweight 82 Positions Relative to FBUF

Symbol	Grade	Weight
AMZN	C	-3.84%
JPM	A	-1.93%
GOOG	C	-1.89%
NFLX	A	-1.28%
TSLA	B	-1.27%
BAC	A	-1.18%
PM	B	-0.94%
CMCSA	B	-0.84%
NEE	D	-0.82%
SCHW	B	-0.79%
LLY	F	-0.76%
PYPL	B	-0.72%
C	A	-0.72%
TT	A	-0.68%
DIS	B	-0.65%
ECL	D	-0.63%
CI	F	-0.63%
SQ	B	-0.6%
NOC	D	-0.6%
UNH	C	-0.57%
CAT	B	-0.53%
ZBRA	B	-0.52%
CVNA	B	-0.52%
DVN	F	-0.52%
MU	D	-0.5%
TXT	D	-0.5%
CSX	B	-0.49%
GE	D	-0.48%
CMG	B	-0.47%
IGT	F	-0.46%
CME	A	-0.44%
GRMN	B	-0.44%
AXP	A	-0.43%
EXEL	B	-0.43%
PFE	D	-0.41%
TMO	F	-0.38%
HWM	A	-0.38%
ALLE	D	-0.38%
PCAR	B	-0.37%
NUE	C	-0.36%
ANF	C	-0.35%
ALRM	C	-0.34%
PPG	F	-0.34%
INCY	C	-0.34%
F	C	-0.33%
SKYW	B	-0.31%
CAH	B	-0.31%
RTX	C	-0.28%
TMUS	B	-0.28%
TROW	B	-0.28%
WFC	A	-0.28%
MSCI	C	-0.26%
AMGN	D	-0.25%
UBER	D	-0.24%
SYK	C	-0.24%
CVS	D	-0.23%
MGM	D	-0.23%
LHX	C	-0.21%
GAP	C	-0.21%
BIIB	F	-0.21%
PEP	F	-0.19%
TPH	D	-0.18%
CACI	D	-0.17%
LNW	D	-0.16%
BBWI	D	-0.16%
OXY	D	-0.15%
VST	B	-0.14%
GL	B	-0.13%
KR	B	-0.12%
BK	A	-0.12%
NSC	B	-0.11%
LPLA	A	-0.11%
UNM	A	-0.1%
AME	A	-0.09%
LYFT	C	-0.08%
CINF	A	-0.07%
PLTK	B	-0.07%
NBIX	C	-0.06%
ANET	C	-0.06%
VEEV	C	-0.04%
TNL	A	-0.04%
TOL	B	-0.02%

JQUA: Top Represented Industries & Keywords

Industries: Software - Application Software - Infrastructure Semiconductors Information Technology Services Business Services Diversified Industrials Specialty Retail Diagnostics & Research Insurance - Property & Casualty Semiconductor Equipment & Materials Biotechnology Drug Manufacturers - Major Household & Personal Products Internet Content & Information Capital Markets Industrial Distribution Insurance Brokers Integrated Shipping & Logistics Medical Instruments & Supplies Oil & Gas E&P