QUAL vs. FQAL ETF Comparison

Comparison of iShares MSCI USA Quality Factor ETF (QUAL) to Fidelity Quality Factor ETF (FQAL)

QUAL

iShares MSCI USA Quality Factor ETF

QUAL Description

The investment seeks to track the investment results of an index composed of U.S. large- and mid-capitalization stocks with quality characteristics as identified through certain fundamental metrics. The fund seeks to track the investment results of the MSCI USA Quality Index (the "underlying index"), which is based on a traditional market capitalization-weighted parent index, the MSCI USA Index, which includes U.S. large- and mid-capitalization stocks. It generally invests at least 90% of its assets in the securities of the underlying index or in depositary receipts representing securities in its underlying index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$182.75

Average Daily Volume

893,947

Number of Holdings ^*

123

* may have additional holdings in another (foreign) market

FQAL

Fidelity Quality Factor ETF

FQAL Description

The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity U.S. Quality Factor Index. Normally investing at least 80% of assets in securities included in the Fidelity U.S. Quality Factor Index, which is designed to reflect the performance of stocks of large and mid-capitalization U.S. companies with a higher quality profile than the broader market.

Grade (RS Rating)

Last Trade

$67.19

Average Daily Volume

29,912

Number of Holdings ^*

124

* may have additional holdings in another (foreign) market

Performance

Period	QUAL	FQAL
30 Days	1.61%	2.60%
60 Days	2.39%	4.35%
90 Days	3.34%	5.86%
12 Months	30.86%	30.56%

50 Overlapping Holdings

Symbol	Grade	Weight in QUAL	Weight in FQAL	Overlap
AAPL	C	5.44%	6.62%	5.44%
ACGL	D	0.26%	0.71%	0.26%
ACN	C	1.67%	1.05%	1.05%
ADBE	C	1.76%	0.97%	0.97%
ADP	B	1.75%	0.64%	0.64%
AMAT	F	1.17%	0.77%	0.77%
AMP	A	0.33%	0.92%	0.33%
AVB	B	0.24%	0.19%	0.19%
AVY	D	0.08%	0.15%	0.08%
CAT	B	1.4%	0.77%	0.77%
CME	A	0.52%	0.85%	0.52%
COP	C	1.73%	0.41%	0.41%
COST	B	2.55%	1.01%	1.01%
CTAS	B	0.6%	0.55%	0.55%
EQR	B	0.18%	0.17%	0.17%
FAST	B	0.42%	0.53%	0.42%
GOOGL	C	1.77%	3.69%	1.77%
GRMN	B	0.48%	0.86%	0.48%
GWW	B	0.59%	0.55%	0.55%
HSY	F	0.15%	0.25%	0.15%
IDXX	F	0.3%	0.67%	0.3%
ITW	B	0.73%	0.54%	0.54%
JNJ	D	2.15%	1.35%	1.35%
KLAC	D	0.77%	0.64%	0.64%
KO	D	1.43%	0.66%	0.66%
LIN	D	1.14%	0.52%	0.52%
LLY	F	3.42%	1.72%	1.72%
LMT	D	1.08%	0.56%	0.56%
LRCX	F	0.73%	0.67%	0.67%
MA	C	4.22%	1.48%	1.48%
MCO	B	0.53%	0.76%	0.53%
META	D	4.09%	2.51%	2.51%
MMM	D	0.5%	0.5%	0.5%
MNST	C	0.21%	0.31%	0.21%
MSFT	F	4.5%	6.3%	4.5%
NFLX	A	1.76%	0.97%	0.97%
NVDA	C	6.93%	7.24%	6.93%
ODFL	B	0.34%	0.45%	0.34%
PAYX	C	0.49%	0.49%	0.49%
PLD	D	0.71%	0.3%	0.3%
PSA	D	0.55%	0.23%	0.23%
QCOM	F	1.15%	0.91%	0.91%
RS	B	0.09%	0.17%	0.09%
SHW	A	0.57%	0.3%	0.3%
TPL	A	0.58%	0.31%	0.31%
V	A	4.5%	1.61%	1.61%
VEEV	C	0.16%	0.84%	0.16%
VRTX	F	0.62%	0.86%	0.62%
WSM	B	0.29%	0.63%	0.29%
ZTS	D	0.51%	0.81%	0.51%

QUAL Overweight 73 Positions Relative to FQAL

Symbol	Grade	Weight
UNH	C	2.81%
TJX	A	2.03%
CSCO	B	1.74%
GOOG	C	1.55%
NKE	D	1.41%
TXN	C	1.34%
CMG	B	1.26%
PEP	F	1.1%
BLK	C	0.99%
SRE	A	0.93%
SLB	C	0.89%
MMC	B	0.74%
ANET	C	0.73%
DHI	D	0.7%
PEG	A	0.69%
LULU	C	0.66%
CDNS	B	0.58%
NVR	D	0.52%
SNPS	B	0.51%
ED	D	0.5%
APH	A	0.5%
DECK	A	0.49%
TSCO	D	0.43%
PHM	D	0.43%
AFL	B	0.42%
ATO	A	0.4%
APD	A	0.35%
CBRE	B	0.35%
ULTA	F	0.31%
BBY	D	0.29%
FERG	B	0.28%
CSGP	D	0.26%
EW	C	0.24%
ROK	B	0.22%
POOL	C	0.22%
EQT	B	0.22%
VLTO	D	0.21%
NTAP	C	0.21%
MANH	D	0.2%
EA	A	0.2%
A	D	0.2%
APA	D	0.19%
TROW	B	0.19%
MPWR	F	0.18%
EME	C	0.17%
RMD	C	0.17%
LPLA	A	0.17%
PPG	F	0.15%
KEYS	A	0.15%
CBOE	B	0.14%
WAT	B	0.13%
ROL	B	0.12%
WSO	A	0.12%
WST	C	0.12%
FDS	B	0.12%
EXPD	D	0.12%
GGG	B	0.11%
OMC	C	0.1%
PKG	A	0.1%
ERIE	D	0.09%
MOH	F	0.09%
JKHY	D	0.09%
PAYC	B	0.08%
UTHR	C	0.08%
SEIC	B	0.07%
MKTX	D	0.07%
ENPH	F	0.06%
SMCI	F	0.06%
AOS	F	0.06%
AFG	A	0.06%
SOLV	C	0.05%
IPG	D	0.05%
WBA	F	0.03%

QUAL Underweight 74 Positions Relative to FQAL

Symbol	Grade	Weight
AVGO	D	-2.0%
HD	A	-1.5%
BKNG	A	-1.21%
XOM	B	-1.16%
ABBV	D	-1.14%
MCD	D	-1.11%
BX	A	-1.05%
BMY	B	-1.02%
LOW	D	-1.02%
PGR	A	-1.0%
GILD	C	-1.0%
PG	A	-0.98%
FICO	B	-0.96%
PANW	C	-0.96%
SPGI	C	-0.92%
ORLY	B	-0.84%
CPAY	A	-0.82%
EWBC	A	-0.78%
CFR	B	-0.77%
MSCI	C	-0.75%
AZO	C	-0.75%
ABNB	C	-0.75%
JXN	C	-0.74%
YUM	B	-0.72%
CBSH	A	-0.71%
DPZ	C	-0.69%
CVX	A	-0.68%
KNSL	B	-0.65%
QLYS	C	-0.64%
PM	B	-0.63%
UNP	C	-0.61%
MTD	D	-0.58%
MEDP	D	-0.57%
T	A	-0.57%
VZ	C	-0.56%
AME	A	-0.52%
TDG	D	-0.49%
CSX	B	-0.49%
CPRT	A	-0.48%
NEE	D	-0.47%
VRSK	A	-0.46%
OTIS	C	-0.45%
MO	A	-0.44%
VST	B	-0.43%
TTD	B	-0.41%
MDLZ	F	-0.38%
CL	D	-0.36%
SO	D	-0.36%
CEG	D	-0.36%
WMB	A	-0.34%
EOG	A	-0.32%
KMB	D	-0.31%
LNG	B	-0.28%
NRG	B	-0.27%
AMT	D	-0.27%
WEC	A	-0.26%
SPG	B	-0.25%
FCX	D	-0.24%
ECL	D	-0.24%
O	D	-0.21%
NFG	A	-0.2%
AM	A	-0.19%
EXR	D	-0.19%
UGI	A	-0.19%
MLM	B	-0.19%
WHD	B	-0.18%
VICI	C	-0.18%
NUE	C	-0.18%
CF	B	-0.17%
SBAC	D	-0.16%
ESS	B	-0.16%
EXP	A	-0.16%
RGLD	C	-0.15%
GLPI	C	-0.14%