QVAL vs. FSST ETF Comparison

Comparison of ValueShares U.S. Quantitative Value ETF (QVAL) to Fidelity Sustainability U.S. Equity ETF (FSST)

QVAL

ValueShares U.S. Quantitative Value ETF

QVAL Description

The investment seeks long-term capital appreciation. The fund is an actively managed ETF. Under normal circumstances, it seeks to achieve its investment objective by investing primarily in U.S. equity securities that the Adviser believes, based on quantitative analysis, are undervalued at the time of purchase and have the potential for capital appreciation. The fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in securities of U.S. companies. It will invest primarily in the exchange-listed common stock of U.S. companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$44.46

Average Daily Volume

22,057

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FSST

Fidelity Sustainability U.S. Equity ETF

FSST Description

FSST mainly invests in US companies that the fund adviser believes to have proven or improving sustainability practices. Evaluation of the companies impact characteristics may involve corporate engagement and its alignment with the United Nations Sustainable Development Goals using qualitative analysis as well as proprietary or third-party data. Their approach to sustainable investing not only considers ESG factors but fundamental ones as well, including financial conditions, industry positions, as well as market and economic conditions. Unlike other ETFs that disclose holdings on a daily basis, FSST publishes its full portfolio holdings monthly with a 30-day lag. A Tracking Basket Structure is in place which acts as a proxy portfolio and may include holdings from recent disclosures, other liquid ETFs as well as cash and cash equivalents in order to track the funds daily performance and facilitate arbitrage opportunities.

Grade (RS Rating)

Last Trade

$25.36

Average Daily Volume

2,470

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	QVAL	FSST
30 Days	4.02%	7.15%
60 Days	1.00%	1.14%
90 Days	8.55%	7.36%
12 Months	38.58%	28.45%

2 Overlapping Holdings

	Symbol	Grade	Weight in QVAL	Weight in FSST	Overlap
	CMCSA	F	2.0%	1.02%	1.02%
	TMHC	C	2.06%	0.93%	0.93%

QVAL Overweight 47 Positions Relative to FSST

Symbol	Grade	Weight
THC	B	2.26%
UTHR	B	2.25%
INSW	A	2.24%
CROX	B	2.18%
KBH	C	2.16%
HPQ	B	2.14%
ANF	B	2.14%
TOL	B	2.11%
TEX	C	2.1%
GPK	D	2.08%
UHS	B	2.05%
PVH	D	2.05%
MO	A	2.04%
DINO	D	2.03%
UFPI	C	2.03%
CEIX	C	2.02%
LEA	F	2.01%
OMC	C	2.0%
IPG	D	2.0%
ELV	A	2.0%
BG	C	2.0%
T	C	1.99%
LBRT	B	1.99%
OC	B	1.99%
CSCO	F	1.99%
SNA	D	1.99%
ALSN	D	1.98%
SIG	C	1.98%
ARW	C	1.98%
CRI	F	1.97%
MOH	F	1.97%
MTCH	F	1.94%
ULTA	F	1.93%
HAL	F	1.92%
ARCH	C	1.92%
BBY	F	1.92%
VLO	D	1.91%
SM	C	1.91%
WFRD	C	1.91%
AGCO	F	1.9%
JBL	F	1.89%
APA	F	1.86%
CRC	F	1.8%
CVI	F	1.8%
PBF	D	1.76%
AMR	D	1.71%
ATKR	D	1.68%

QVAL Underweight 64 Positions Relative to FSST

Symbol	Grade	Weight
MSFT	B	-7.73%
NVDA	B	-6.84%
AMZN	C	-3.93%
GOOGL	A	-3.75%
AAPL	B	-2.83%
MRK	B	-2.82%
PG	A	-2.69%
TRV	D	-2.68%
CI	D	-2.53%
MAR	D	-2.48%
DIS	D	-2.42%
CRM	D	-2.3%
MCO	A	-2.07%
MA	D	-2.02%
LIN	D	-1.97%
ADSK	F	-1.96%
ACN	F	-1.95%
AXP	A	-1.84%
LOW	D	-1.8%
INTU	A	-1.76%
KBR	B	-1.72%
ICLR	C	-1.69%
BLK	B	-1.6%
BKR	C	-1.57%
PLD	F	-1.53%
AYI	B	-1.43%
AVY	A	-1.28%
DHR	A	-1.26%
ON	D	-1.23%
GILD	F	-1.18%
NEE	A	-1.14%
CNC	B	-1.13%
VLTO	A	-1.01%
JCI	A	-1.0%
UPS	D	-0.95%
RRX	D	-0.87%
DE	D	-0.87%
IR	B	-0.86%
CCK	C	-0.84%
LNG	D	-0.83%
NFLX	A	-0.8%
ACI	D	-0.8%
SBUX	F	-0.78%
SFM	B	-0.77%
TGNA	D	-0.72%
ZTS	D	-0.7%
MAN	D	-0.69%
AMD	D	-0.63%
BAC	A	-0.59%
NTRS	D	-0.57%
APTV	D	-0.56%
VOYA	B	-0.52%
EL	F	-0.51%
NXPI	A	-0.5%
TKR	B	-0.5%
FSLR	C	-0.48%
DFS	C	-0.46%
CWEN	C	-0.45%
GNRC	B	-0.45%
NOMD	D	-0.42%
MRNA	A	-0.3%
TSLA	D	-0.26%
GM	C	-0.23%
CVS	F	-0.2%