LSAF vs. FPRO ETF Comparison

Comparison of LeaderShares AlphaFactor US Core Equity ETF (LSAF) to Fidelity Real Estate Investment ETF (FPRO)

LSAF

LeaderShares AlphaFactor US Core Equity ETF

LSAF Description

The investment seeks to provide investment results that correspond generally, before fees and expenses, to the performance of the AlphaFactor® US Core Equity Index. Under normal circumstances, at least 80% of the fund's net assets, including any borrowings for investment purposes, will be invested in a diversified portfolio of equity securities of U.S. common stocks included in the index. The index utilizes a quantitative rules-based investment methodology that applies a multi-factor ranking process and is focused on the largest 1,000 U.S. common stocks based on market capitalization.

Grade (RS Rating)

Last Trade

$40.85

Average Daily Volume

11,161

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FPRO

Fidelity Real Estate Investment ETF

FPRO Description

The investment seeks above-average income and long-term capital growth, consistent with reasonable investment risk. The fund is an actively managed ETF that operates pursuant to an exemptive order from the Securities and Exchange Commission (Order) and is not required to publicly disclose its complete portfolio holdings each business day. The fund normally invests at least 80% of assets in securities of companies principally engaged in the real estate industry and other real estate related investments. It invests in domestic and foreign issuers. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$23.20

Average Daily Volume

5,333

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	LSAF	FPRO
30 Days	-0.90%	-3.30%
60 Days	1.50%	-2.08%
90 Days	8.54%	3.54%
12 Months	31.17%	23.95%

1 Overlapping Holdings

	Symbol	Grade	Weight in LSAF	Weight in FPRO	Overlap
	REG	D	1.0%	1.04%	1.0%

LSAF Overweight 98 Positions Relative to FPRO

Symbol	Grade	Weight
OWL	B	1.2%
GM	B	1.14%
FI	A	1.11%
SYF	B	1.11%
TRGP	A	1.11%
AMP	B	1.1%
AMG	A	1.1%
EXEL	A	1.1%
TMUS	B	1.09%
AAON	A	1.09%
NTNX	B	1.09%
EQH	B	1.08%
EXPE	B	1.07%
STLD	A	1.07%
LNW	D	1.07%
FIS	B	1.07%
VST	B	1.06%
SAIC	A	1.05%
GS	B	1.05%
CPAY	B	1.05%
MAR	A	1.05%
PRI	B	1.04%
FICO	B	1.04%
JBL	A	1.04%
BKNG	A	1.04%
DUOL	A	1.04%
UNM	A	1.04%
RL	B	1.04%
AIG	B	1.04%
GWRE	B	1.03%
HLT	A	1.03%
WRB	C	1.02%
FTNT	B	1.02%
IT	C	1.02%
H	D	1.02%
GOOGL	A	1.02%
KBR	B	1.02%
PSN	A	1.01%
ORLY	C	1.01%
SNX	C	1.01%
CMI	B	1.01%
RS	C	1.01%
MET	C	1.0%
AAPL	C	1.0%
EEFT	F	0.99%
BR	C	0.99%
FOXA	A	0.99%
ORI	D	0.99%
AXP	A	0.99%
EXP	B	0.98%
GEN	A	0.98%
MTG	D	0.98%
PLNT	D	0.98%
CAT	B	0.98%
AFL	D	0.98%
UTHR	A	0.98%
THC	C	0.98%
DVA	D	0.97%
PVH	C	0.97%
MO	A	0.97%
WSO	D	0.96%
WWD	D	0.96%
EBAY	D	0.96%
AZO	D	0.96%
MUSA	C	0.96%
MAS	D	0.96%
GPK	D	0.96%
LOW	B	0.96%
TOL	C	0.95%
POST	D	0.95%
WMS	F	0.95%
LOPE	D	0.95%
HIG	D	0.95%
LMT	D	0.94%
HRB	D	0.94%
SPGI	D	0.94%
SPB	C	0.94%
FBIN	C	0.93%
CSL	C	0.93%
DD	D	0.93%
PSX	F	0.93%
COKE	D	0.92%
NVR	D	0.92%
TXT	F	0.92%
COLM	C	0.91%
PHM	D	0.9%
LPX	D	0.9%
LEN	D	0.9%
CI	D	0.89%
HCA	D	0.89%
MPC	F	0.89%
NSA	D	0.88%
BLD	F	0.87%
AN	F	0.87%
BLDR	F	0.87%
MTD	D	0.86%
MHK	D	0.82%
CROX	F	0.77%

LSAF Underweight 38 Positions Relative to FPRO

Symbol	Grade	Weight
PLD	F	-10.5%
AMT	D	-9.08%
EQIX	B	-6.67%
PSA	D	-5.96%
VTR	B	-5.87%
WELL	A	-4.02%
KIM	B	-4.0%
CBRE	A	-3.89%
NNN	D	-3.64%
UDR	D	-3.53%
CUBE	D	-3.41%
DLR	A	-3.25%
MAA	D	-2.91%
SUI	D	-2.88%
EQR	D	-2.83%
COLD	F	-2.32%
CCI	D	-2.11%
AMH	F	-2.11%
EXR	D	-1.93%
INVH	F	-1.57%
CSGP	F	-1.42%
UE	B	-1.38%
LAMR	B	-1.25%
STAG	D	-1.14%
SBAC	D	-1.13%
CPT	D	-1.12%
FCPT	D	-0.87%
PECO	B	-0.78%
TRNO	F	-0.77%
IRM	B	-0.74%
DRH	D	-0.65%
SKT	B	-0.64%
WY	D	-0.59%
COMP	B	-0.47%
RHP	B	-0.44%
ELME	D	-0.43%
ELS	D	-0.42%
AKR	B	-0.23%