PHEQ vs. FELV ETF Comparison

Comparison of Parametric Hedged Equity ETF (PHEQ) to Fidelity Enhanced Large Cap Value ETF (FELV)

PHEQ

Parametric Hedged Equity ETF

PHEQ Description

The fund seeks to provide capital appreciation by investing its net assets in equity securities of certain U.S. large capitalization companies that are constituents of the Solactive GBS US 500 at the time of purchase.

Grade (RS Rating)

Last Trade

$28.98

Average Daily Volume

22,605

Number of Holdings ^*

203

* may have additional holdings in another (foreign) market

FELV

Fidelity Enhanced Large Cap Value ETF

FELV Description

The fund will normally invest at least 80% of assets in common stocks included in the Russell 1000® Value Index, which is a market capitalization-weighted index designed to measure the performance of the large-cap value segment of the U.S. equity market. The adviser will generally use computer-aided, quantitative analysis of historical valuation, growth, profitability, and other factors to select a broadly diversified group of stocks that may have the potential to provide a higher total return than that of the index. It will invest in domestic and foreign issuers.

Grade (RS Rating)

Last Trade

$31.18

Average Daily Volume

97,504

Number of Holdings ^*

317

* may have additional holdings in another (foreign) market

Performance

Period	PHEQ	FELV
30 Days	1.14%	0.65%
60 Days	3.68%	5.09%
90 Days	6.89%	9.71%
12 Months	18.20%

82 Overlapping Holdings

Symbol	Grade	Weight in PHEQ	Weight in FELV	Overlap
AAPL	C	7.06%	0.19%	0.19%
ABBV	B	1.04%	1.08%	1.04%
ABT	B	0.6%	0.56%	0.56%
ADBE	D	0.47%	0.37%	0.37%
AMD	F	0.57%	0.14%	0.14%
AME	A	0.25%	0.16%	0.16%
AMGN	D	0.5%	0.18%	0.18%
AVGO	B	1.85%	0.2%	0.2%
AXP	B	0.55%	0.2%	0.2%
BAC	B	0.89%	1.63%	0.89%
BMY	A	0.46%	0.88%	0.46%
BRK.A	D	1.39%	3.6%	1.39%
CAT	B	0.55%	0.55%	0.55%
CNP	B	0.26%	0.14%	0.14%
CRM	B	0.58%	0.21%	0.21%
CSCO	A	0.77%	1.07%	0.77%
CTAS	B	0.41%	0.53%	0.41%
CVX	B	0.78%	0.52%	0.52%
DASH	B	0.11%	0.07%	0.07%
DELL	B	0.14%	0.08%	0.08%
DIS	C	0.47%	0.69%	0.47%
DOC	A	0.31%	0.15%	0.15%
DTE	D	0.32%	0.09%	0.09%
DVN	F	0.17%	0.35%	0.17%
EQR	D	0.32%	0.17%	0.17%
FANG	F	0.25%	0.15%	0.15%
HD	B	1.12%	0.45%	0.45%
HWM	B	0.33%	0.11%	0.11%
IBM	D	0.56%	0.28%	0.28%
IFF	D	0.19%	0.1%	0.1%
ILMN	A	0.06%	0.17%	0.06%
JNJ	D	1.1%	1.24%	1.1%
JPM	B	1.59%	2.75%	1.59%
KLAC	F	0.39%	0.03%	0.03%
KMB	D	0.34%	0.14%	0.14%
KO	D	0.83%	0.16%	0.16%
L	D	0.23%	0.34%	0.23%
LH	B	0.3%	0.08%	0.08%
LIN	D	0.71%	0.49%	0.49%
LMT	D	0.59%	0.68%	0.59%
LOW	B	0.56%	0.07%	0.07%
MA	B	1.13%	0.28%	0.28%
MDT	B	0.53%	0.42%	0.42%
META	B	2.87%	0.22%	0.22%
MGM	D	0.14%	0.15%	0.14%
MMM	D	0.44%	0.61%	0.44%
MS	B	0.35%	0.41%	0.35%
MU	C	0.33%	0.91%	0.33%
NEM	D	0.26%	0.06%	0.06%
NFLX	A	0.74%	0.17%	0.17%
NVDA	B	7.04%	0.23%	0.23%
OKTA	F	0.03%	0.02%	0.02%
PFG	D	0.19%	0.16%	0.16%
PG	D	1.08%	1.24%	1.08%
PPG	F	0.19%	0.59%	0.19%
PRU	C	0.37%	0.66%	0.37%
PYPL	B	0.26%	0.74%	0.26%
QCOM	F	0.35%	0.48%	0.35%
ROST	D	0.32%	0.11%	0.11%
RSG	C	0.33%	0.64%	0.33%
SCHW	B	0.31%	0.79%	0.31%
SQ	C	0.1%	0.63%	0.1%
SSNC	D	0.2%	0.56%	0.2%
STLD	B	0.1%	0.45%	0.1%
SYF	A	0.23%	0.03%	0.03%
T	B	0.66%	1.02%	0.66%
TMO	D	0.64%	0.97%	0.64%
TMUS	B	0.49%	0.26%	0.26%
TRGP	A	0.39%	0.07%	0.07%
TRV	B	0.38%	0.27%	0.27%
TXN	B	0.62%	0.16%	0.16%
UNH	D	1.3%	1.56%	1.3%
UNP	D	0.51%	0.77%	0.51%
VEEV	C	0.11%	0.29%	0.11%
VRTX	A	0.38%	0.1%	0.1%
WBD	D	0.16%	0.08%	0.08%
WDAY	D	0.12%	0.12%	0.12%
WFC	B	0.59%	0.95%	0.59%
WM	B	0.43%	0.22%	0.22%
WMT	A	0.93%	1.77%	0.93%
XOM	B	1.38%	2.48%	1.38%
ZM	A	0.17%	0.62%	0.17%

PHEQ Overweight 121 Positions Relative to FELV

Symbol	Grade	Weight
MSFT	D	6.87%
AMZN	A	3.93%
GOOGL	B	2.32%
GOOG	B	1.94%
LLY	F	1.6%
TSLA	B	1.54%
V	A	1.2%
COST	C	1.04%
PEP	F	0.76%
MRK	F	0.76%
ORCL	B	0.7%
NOW	A	0.58%
ISRG	A	0.58%
KKR	B	0.44%
DE	C	0.44%
BKNG	A	0.38%
DAL	A	0.36%
ETR	B	0.36%
K	A	0.35%
BA	F	0.35%
AVB	B	0.34%
PPL	B	0.33%
YUM	C	0.33%
OTIS	B	0.33%
DOV	A	0.32%
LRCX	F	0.32%
LNT	C	0.32%
CMS	C	0.32%
HIG	D	0.32%
EXR	D	0.32%
PHM	D	0.31%
UBER	C	0.31%
BRO	A	0.3%
AEE	A	0.29%
COR	B	0.29%
DRI	B	0.29%
HBAN	B	0.28%
PANW	B	0.28%
MELI	C	0.27%
APO	A	0.27%
ARES	B	0.26%
MAA	D	0.26%
GLW	B	0.26%
LII	A	0.25%
RMD	B	0.25%
REGN	F	0.25%
LYB	F	0.24%
CFG	B	0.24%
URI	B	0.24%
PLTR	A	0.24%
ULTA	D	0.24%
JBHT	B	0.24%
FE	D	0.24%
ARE	D	0.23%
AMCR	D	0.23%
NDAQ	A	0.23%
EXPD	D	0.23%
MRVL	A	0.23%
MRO	C	0.22%
MKL	D	0.21%
HEI	D	0.21%
WRB	C	0.2%
CPB	D	0.2%
LULU	C	0.2%
LNG	A	0.19%
CAG	D	0.19%
ESS	D	0.19%
AKAM	D	0.19%
CSL	D	0.18%
APTV	F	0.18%
TTD	B	0.18%
SPOT	B	0.17%
CRWD	C	0.16%
ALNY	C	0.16%
ON	D	0.16%
MSTR	C	0.15%
MOH	D	0.15%
BAH	A	0.15%
ABNB	C	0.15%
HAL	F	0.15%
NDSN	D	0.14%
ZBH	D	0.14%
HEI	D	0.13%
DDOG	B	0.13%
HUBB	B	0.13%
HUBS	B	0.12%
TW	B	0.11%
SUI	D	0.11%
FCNCA	D	0.11%
TRU	C	0.1%
RBLX	B	0.1%
COIN	C	0.09%
CE	F	0.09%
DOX	B	0.09%
VRT	B	0.09%
IBKR	A	0.09%
SCCO	B	0.08%
ZS	C	0.08%
BLDR	D	0.08%
AVTR	D	0.07%
NET	C	0.07%
DKNG	D	0.07%
AGR	D	0.07%
YUMC	B	0.07%
ALGN	F	0.06%
SNAP	C	0.06%
ENPH	F	0.05%
TEAM	B	0.05%
SNOW	C	0.05%
OWL	B	0.05%
WLK	F	0.04%
RKT	D	0.04%
LPLA	B	0.04%
BSY	D	0.04%
RPRX	D	0.04%
CPNG	A	0.03%
SIRI	D	0.03%
PINS	C	0.03%
MRNA	F	0.02%
WSM	D	0.02%
WMG	B	0.02%

PHEQ Underweight 235 Positions Relative to FELV

Symbol	Grade	Weight
PM	A	-1.34%
CMCSA	B	-1.18%
GE	D	-1.05%
GILD	A	-1.0%
PFE	D	-0.99%
INTC	C	-0.82%
VZ	D	-0.75%
ETN	B	-0.73%
SPGI	D	-0.72%
BDX	D	-0.72%
RTX	C	-0.72%
NEE	D	-0.7%
PNC	B	-0.68%
CVNA	B	-0.67%
NOC	D	-0.67%
BK	A	-0.63%
CI	D	-0.61%
CCI	D	-0.6%
CACI	A	-0.59%
AON	B	-0.59%
CME	B	-0.58%
TWLO	A	-0.56%
SEIC	A	-0.56%
NSC	B	-0.56%
COP	D	-0.55%
CL	D	-0.55%
ALLE	D	-0.55%
LDOS	A	-0.55%
TXT	D	-0.53%
PSA	D	-0.52%
ECL	D	-0.51%
TT	B	-0.5%
DD	C	-0.5%
IGT	F	-0.5%
WAB	A	-0.48%
AMAT	F	-0.47%
EOG	F	-0.43%
LHX	B	-0.43%
COF	A	-0.43%
DBX	B	-0.42%
CINF	B	-0.41%
MMC	D	-0.39%
EXEL	A	-0.38%
PCG	B	-0.37%
PCAR	B	-0.37%
BIIB	F	-0.35%
UNM	A	-0.35%
CSX	D	-0.35%
TPH	D	-0.35%
BRX	A	-0.34%
EVRG	B	-0.34%
NUE	F	-0.34%
PGR	D	-0.34%
ACN	C	-0.34%
FTV	F	-0.32%
TDC	D	-0.31%
KR	A	-0.31%
GS	B	-0.31%
F	F	-0.31%
CMI	A	-0.31%
CAH	C	-0.3%
CVS	F	-0.3%
MCD	D	-0.29%
ZBRA	B	-0.29%
LPX	C	-0.29%
MO	A	-0.28%
GL	C	-0.28%
VMC	B	-0.28%
TOL	C	-0.28%
DOCU	A	-0.28%
XEL	B	-0.28%
FR	D	-0.28%
ANF	F	-0.27%
SEE	B	-0.27%
GEV	A	-0.27%
TJX	D	-0.27%
C	B	-0.26%
WTW	A	-0.26%
CLX	C	-0.25%
GAP	C	-0.25%
VICI	D	-0.25%
SYK	A	-0.25%
CCK	B	-0.25%
CNC	D	-0.25%
EXC	D	-0.24%
TFC	C	-0.23%
INCY	A	-0.23%
ED	D	-0.23%
FLS	A	-0.23%
MSCI	B	-0.22%
EQIX	B	-0.21%
EQH	B	-0.21%
OC	B	-0.21%
KMI	A	-0.21%
SKYW	A	-0.2%
MEDP	F	-0.2%
JCI	B	-0.2%
CEG	C	-0.2%
HPE	B	-0.2%
AM	D	-0.19%
ICE	C	-0.19%
DHR	D	-0.19%
MTDR	D	-0.19%
TMHC	A	-0.19%
DUK	D	-0.19%
IQV	F	-0.19%
VMI	A	-0.19%
MSI	B	-0.19%
LNW	D	-0.18%
AES	F	-0.18%
PNR	A	-0.18%
BSX	B	-0.18%
USFD	A	-0.18%
GEHC	D	-0.17%
ITT	B	-0.17%
ALL	D	-0.17%
SPG	A	-0.17%
ACA	A	-0.16%
KEY	B	-0.16%
Z	C	-0.15%
EIX	D	-0.15%
JXN	B	-0.15%
GD	D	-0.15%
BBY	D	-0.15%
RCL	A	-0.14%
KHC	F	-0.14%
TAP	C	-0.14%
ES	D	-0.14%
SWKS	F	-0.14%
STT	A	-0.13%
PKG	A	-0.13%
BMRN	F	-0.13%
SOLV	B	-0.13%
UHS	D	-0.13%
NTAP	D	-0.12%
ITW	A	-0.12%
CCL	B	-0.12%
ELV	F	-0.12%
QRVO	F	-0.12%
EEFT	C	-0.12%
WDC	C	-0.12%
MHO	D	-0.11%
PEG	C	-0.11%
CRUS	F	-0.11%
ADM	F	-0.11%
ZG	C	-0.11%
BKH	D	-0.11%
AMH	F	-0.11%
PH	A	-0.11%
WMB	A	-0.11%
QGEN	D	-0.11%
ENS	D	-0.11%
AIZ	C	-0.1%
ADTN	C	-0.1%
A	C	-0.1%
CRC	B	-0.1%
ADP	A	-0.1%
GRMN	A	-0.09%
BAX	D	-0.09%
BKR	A	-0.09%
KD	F	-0.08%
HON	B	-0.08%
FTI	B	-0.08%
TPR	B	-0.08%
CNO	B	-0.08%
GPN	D	-0.08%
MKC	D	-0.08%
ARW	F	-0.07%
BCC	C	-0.07%
REG	B	-0.07%
MDLZ	F	-0.07%
CMG	D	-0.07%
BYD	B	-0.07%
UTHR	A	-0.07%
SO	C	-0.07%
NWSA	B	-0.06%
NWL	B	-0.06%
EW	D	-0.06%
ALKS	C	-0.06%
HUM	F	-0.06%
GIS	D	-0.06%
NVT	C	-0.06%
UPS	C	-0.06%
OGE	A	-0.06%
NMRK	B	-0.06%
VSTS	F	-0.06%
LEG	F	-0.06%
SON	F	-0.06%
SAM	B	-0.05%
HL	C	-0.05%
FHI	A	-0.05%
CXT	F	-0.05%
PLTK	B	-0.05%
GLPI	C	-0.05%
CW	B	-0.05%
BBWI	D	-0.05%
VST	C	-0.05%
MATX	A	-0.04%
DHI	D	-0.04%
INGR	A	-0.04%
VLTO	D	-0.04%
MSA	D	-0.04%
ACT	D	-0.04%
NBIX	D	-0.04%
ADI	C	-0.04%
DFS	B	-0.04%
TRMB	B	-0.04%
CTRA	F	-0.04%
CWEN	C	-0.04%
BERY	C	-0.03%
BLD	D	-0.03%
WS	B	-0.03%
HRB	D	-0.03%
WOOF	C	-0.03%
RGA	D	-0.03%
RJF	B	-0.03%
HXL	F	-0.03%
OGN	F	-0.03%
EXTR	C	-0.03%
ELAN	F	-0.03%
NWS	A	-0.03%
TFX	F	-0.03%
ALRM	D	-0.03%
M	C	-0.02%
CWEN	C	-0.02%
AYI	A	-0.02%
SWI	A	-0.02%
ITRI	A	-0.02%
AXTA	A	-0.02%
TNL	A	-0.01%
FTDR	A	-0.01%
MUR	F	-0.01%
DGX	B	-0.01%
ANSS	C	-0.01%
AXS	B	-0.01%