PVAL vs. FFSM ETF Comparison

Comparison of Putnam Focused Large Cap Value ETF (PVAL) to Fidelity Fundamental Small-Mid Cap ETF (FFSM)

PVAL

Putnam Focused Large Cap Value ETF

PVAL Description

The investment seeks to provide investment results that closely correspond, before expenses, to the performance of the Nasdaq U.S. Contrarian Value Index (the index). Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies that compose the index at the time of purchase. The index uses a quantitative model designed to identify equity securities in the Nasdaq US Large Mid Cap Index (the parent index) that appear to be undervalued by the market relative to their fundamental value.

Grade (RS Rating)

Last Trade

$35.04

Average Daily Volume

176,876

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FFSM

Fidelity Fundamental Small-Mid Cap ETF

FFSM Description

FFSM discloses holdings only on a monthly basis with a 30-day lag. The fund actively selects global mid- and small-cap companies with both growth and value factors. The portfolio is selected using fundamental and quantitative analysis, considering factors such as issuer's financial health and industry position, as well as the overall economic condition. The fund has a Tracking Basket Structure in place, which acts as a proxy portfolio that includes some of the funds holdings from recent disclosure, significant portion of the funds holdings, and cash. This is designed to track the funds daily performance, facilitate arbitrage opportunities and help mitigate the risk of front-running. However, investors should note that its non-transparent structure could result in wider spreads. Before February 26, 2024, the fund traded as Fidelity Small-Mid Cap Opportunities ETF under the ticker FSMO.

Grade (RS Rating)

Last Trade

$25.18

Average Daily Volume

23,080

Number of Holdings ^*

158

* may have additional holdings in another (foreign) market

Performance

Period	PVAL	FFSM
30 Days	-1.38%	-3.00%
60 Days	3.86%	-0.87%
90 Days	8.42%	5.34%
12 Months	30.14%	24.03%

1 Overlapping Holdings

	Symbol	Grade	Weight in PVAL	Weight in FFSM	Overlap
	BJ	A	1.59%	1.15%	1.15%

PVAL Overweight 43 Positions Relative to FFSM

Symbol	Grade	Weight
XOM	B	4.03%
BAC	B	3.43%
ORCL	D	3.4%
URI	D	3.26%
APO	B	3.22%
MSFT	D	3.17%
REGN	C	2.9%
COP	B	2.87%
C	B	2.86%
CI	B	2.73%
NRG	A	2.65%
TMO	C	2.63%
HLT	D	2.57%
GS	A	2.52%
MCK	B	2.43%
AIG	A	2.38%
PHM	A	2.36%
FCX	B	2.34%
SNY	B	2.27%
NXPI	B	2.24%
CEG	A	2.23%
FDX	B	2.18%
JCI	B	2.16%
GLPI	F	2.15%
IR	B	2.14%
KO	A	2.03%
PG	A	1.95%
WMT	D	1.9%
SCHW	A	1.85%
GM	B	1.84%
VLO	B	1.8%
QCOM	A	1.78%
ORLY	D	1.7%
EXC	A	1.53%
NOC	B	1.44%
BALL	A	1.42%
CTVA	B	1.39%
EMN	B	1.36%
LUV	F	1.36%
TMUS	A	1.23%
CHTR	D	0.88%
AMT	D	0.6%
COF	B	0.19%

PVAL Underweight 157 Positions Relative to FFSM

Symbol	Grade	Weight
FTI	A	-1.63%
TPX	C	-1.58%
EME	A	-1.51%
AZO	D	-1.46%
AR	A	-1.41%
VRT	A	-1.4%
MOH	F	-1.36%
CROX	C	-1.26%
UHS	C	-1.23%
ACGL	A	-1.23%
XPO	D	-1.21%
MUSA	B	-1.2%
RRX	D	-1.14%
PFGC	D	-1.14%
ITT	D	-1.12%
EXP	B	-1.09%
USFD	C	-1.06%
DKS	B	-1.02%
FN	C	-1.01%
PVH	D	-1.0%
DOX	F	-0.99%
LPLA	A	-0.97%
NSIT	D	-0.93%
WHD	B	-0.92%
AIZ	D	-0.88%
ATKR	B	-0.88%
FAF	F	-0.87%
DFS	B	-0.86%
ORI	A	-0.86%
CHDN	A	-0.84%
LNG	B	-0.84%
CACI	A	-0.84%
VNT	D	-0.83%
NXST	B	-0.82%
AYI	D	-0.82%
AME	D	-0.82%
JLL	C	-0.81%
BC	F	-0.8%
AIT	C	-0.79%
ASGN	D	-0.76%
SNX	B	-0.75%
STX	C	-0.73%
CRL	D	-0.73%
GPK	D	-0.72%
PRI	C	-0.72%
GVA	A	-0.71%
RGA	A	-0.7%
ON	D	-0.7%
MEDP	D	-0.7%
BECN	A	-0.7%
ACHC	F	-0.67%
ALSN	D	-0.67%
STLD	D	-0.67%
ACM	A	-0.66%
PNFP	C	-0.66%
AEIS	D	-0.66%
CMC	B	-0.66%
SNV	C	-0.65%
SN	A	-0.65%
KBR	A	-0.65%
TGLS	B	-0.64%
CNM	A	-0.64%
PCG	A	-0.64%
CC	D	-0.63%
WBS	F	-0.63%
G	D	-0.63%
AES	A	-0.6%
CAH	D	-0.59%
DT	F	-0.59%
HLI	A	-0.59%
FCNCA	A	-0.59%
MMS	C	-0.58%
HOLX	B	-0.57%
OLN	C	-0.57%
CADE	A	-0.57%
FSS	B	-0.57%
RJF	A	-0.56%
TENB	D	-0.56%
CIEN	C	-0.56%
KBH	C	-0.55%
LPX	C	-0.54%
VTR	A	-0.54%
AFG	D	-0.52%
ESI	D	-0.52%
WTFC	A	-0.52%
HAYW	C	-0.52%
CBT	A	-0.51%
MTSI	B	-0.51%
EXLS	C	-0.5%
OI	F	-0.49%
LBRT	B	-0.48%
NOMD	D	-0.48%
LSCC	F	-0.48%
BCO	A	-0.46%
WSC	F	-0.46%
LGIH	F	-0.46%
EPRT	A	-0.45%
EBC	B	-0.44%
ASO	D	-0.43%
LEA	F	-0.43%
BOKF	A	-0.43%
CHX	B	-0.43%
LITE	D	-0.41%
CACC	F	-0.41%
CWK	B	-0.4%
CNXC	F	-0.39%
FBP	A	-0.39%
FROG	C	-0.38%
RUSHA	F	-0.37%
FIBK	A	-0.36%
OMI	D	-0.35%
BOOT	B	-0.35%
FLEX	D	-0.35%
TMDX	A	-0.34%
ESGR	B	-0.34%
ICHR	C	-0.34%
NOG	B	-0.34%
DOOO	C	-0.32%
LCII	F	-0.32%
DIOD	B	-0.31%
ARGX	C	-0.31%
WST	F	-0.31%
PGNY	F	-0.3%
EAT	A	-0.29%
ALGM	B	-0.29%
PRO	F	-0.29%
HELE	D	-0.28%
RGEN	D	-0.25%
MTB	A	-0.25%
IBTX	F	-0.24%
CSTM	D	-0.23%
KFRC	C	-0.22%
TEX	D	-0.21%
PATK	C	-0.21%
MDGL	D	-0.2%
CRNX	A	-0.18%
XPRO	B	-0.18%
CYTK	D	-0.16%
VCEL	B	-0.15%
ECPG	D	-0.14%
ACLX	C	-0.13%
NUVL	C	-0.13%
CLDX	C	-0.13%
ICLR	D	-0.12%
PCVX	C	-0.11%
XENE	C	-0.09%
AXSM	D	-0.09%
LAUR	B	-0.08%
TCBK	B	-0.07%
PBH	B	-0.07%
ARVN	D	-0.07%
MORF	F	-0.06%
VRNA	D	-0.06%
TXG	F	-0.05%
ZNTL	F	-0.03%
KROS	C	-0.02%
ALXO	A	-0.01%