ROE vs. FHEQ ETF Comparison

Comparison of Astoria US Quality Kings ETF (ROE) to Fidelity Hedged Equity ETF (FHEQ)

ROE

Astoria US Quality Kings ETF

ROE Description

The fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in common stock principally traded in the U.S. The fund seeks to invest in companies that exhibit robust quality characteristics across sectors, with attractive valuations and dividend paying potential, as determined by the fund"s sub-adviser.

Grade (RS Rating)

Last Trade

$31.78

Average Daily Volume

13,670

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FHEQ

Fidelity Hedged Equity ETF

FHEQ Description

FHEQ is actively managed, investing in equity securities with market caps similar to the S&P 500 and Russell 1000. The fund utilizes quantitative analysis and options for downside protection.

Grade (RS Rating)

Last Trade

$27.87

Average Daily Volume

24,517

Number of Holdings ^*

168

* may have additional holdings in another (foreign) market

Performance

Period	ROE	FHEQ
30 Days	3.50%	2.51%
60 Days	4.18%	3.80%
90 Days	4.70%	4.54%
12 Months	32.06%

41 Overlapping Holdings

Symbol	Grade	Weight in ROE	Weight in FHEQ	Overlap
AAPL	C	0.98%	7.31%	0.98%
ABBV	D	0.84%	1.0%	0.84%
ADBE	C	0.93%	0.93%	0.93%
ALL	A	1.03%	0.07%	0.07%
AMAT	F	0.85%	0.7%	0.7%
ANET	C	0.94%	0.08%	0.08%
CAH	B	1.06%	0.4%	0.4%
CAT	B	0.98%	0.48%	0.48%
CL	D	0.9%	0.58%	0.58%
CMCSA	B	1.02%	0.83%	0.83%
CSCO	B	1.07%	0.79%	0.79%
DVN	F	0.92%	0.53%	0.53%
EOG	A	1.05%	0.43%	0.43%
GEHC	F	0.88%	0.17%	0.17%
GEN	B	1.06%	0.13%	0.13%
GOOGL	C	1.05%	2.02%	1.05%
HD	A	1.02%	1.32%	1.02%
JNJ	D	0.94%	0.61%	0.61%
KLAC	D	0.79%	0.54%	0.54%
LLY	F	0.78%	0.76%	0.76%
LMT	D	0.9%	0.69%	0.69%
LRCX	F	0.83%	0.23%	0.23%
META	D	0.97%	2.87%	0.97%
MRK	F	0.82%	0.69%	0.69%
MSFT	F	0.95%	5.64%	0.95%
MSI	B	1.08%	0.26%	0.26%
NFLX	A	1.16%	1.26%	1.16%
NVDA	C	1.14%	7.27%	1.14%
ORCL	B	1.1%	0.04%	0.04%
PGR	A	0.99%	0.63%	0.63%
PM	B	1.07%	0.92%	0.92%
QCOM	F	0.96%	0.84%	0.84%
ROST	C	0.91%	0.1%	0.1%
SPG	B	1.05%	0.16%	0.16%
TJX	A	1.0%	0.73%	0.73%
TMUS	B	1.15%	0.29%	0.29%
TROW	B	1.07%	0.23%	0.23%
TRV	B	1.08%	0.49%	0.49%
V	A	1.11%	0.47%	0.47%
VST	B	1.27%	0.11%	0.11%
VZ	C	0.93%	0.18%	0.18%

ROE Overweight 58 Positions Relative to FHEQ

Symbol	Grade	Weight
APP	B	2.26%
APO	B	1.28%
SYF	B	1.27%
MCK	B	1.25%
LYV	A	1.21%
AMP	A	1.2%
CHTR	C	1.17%
EME	C	1.14%
ETR	B	1.13%
GWW	B	1.11%
PANW	C	1.1%
MO	A	1.08%
RPM	A	1.08%
WRB	A	1.05%
COR	B	1.05%
APH	A	1.04%
URI	B	1.03%
NRG	B	1.03%
DPZ	C	1.02%
ACN	C	1.02%
DOV	A	1.02%
ITW	B	1.02%
AFL	B	1.01%
JBL	B	1.01%
LOW	D	1.01%
VLO	C	1.0%
TXN	C	0.99%
CTSH	B	0.99%
HIG	B	0.99%
YUM	B	0.98%
CSL	C	0.98%
TGT	F	0.98%
SYY	B	0.98%
CB	C	0.97%
NTAP	C	0.96%
KMB	D	0.95%
RMD	C	0.95%
EG	C	0.95%
VICI	C	0.94%
OMC	C	0.94%
IBM	C	0.93%
ON	D	0.93%
NXPI	D	0.92%
EBAY	D	0.92%
SBAC	D	0.91%
THC	D	0.91%
ZTS	D	0.89%
PHM	D	0.88%
WSM	B	0.86%
A	D	0.86%
MCHP	D	0.83%
SWKS	F	0.83%
DHI	D	0.82%
CDW	F	0.78%
TER	D	0.78%
FSLR	F	0.77%
MPWR	F	0.64%
CE	F	0.54%

ROE Underweight 127 Positions Relative to FHEQ

Symbol	Grade	Weight
AMZN	C	-3.64%
BRK.A	B	-2.19%
JPM	A	-1.82%
GOOG	C	-1.74%
XOM	B	-1.54%
AVGO	D	-1.49%
MA	C	-1.34%
TSLA	B	-1.26%
BAC	A	-1.17%
CRM	B	-1.09%
PG	A	-0.87%
WMT	A	-0.8%
NEE	D	-0.73%
UNP	C	-0.73%
GILD	C	-0.73%
TT	A	-0.69%
BMY	B	-0.68%
T	A	-0.67%
CTAS	B	-0.66%
CI	F	-0.63%
ECL	D	-0.62%
SQ	B	-0.59%
BDX	F	-0.59%
UNH	C	-0.57%
DIS	B	-0.57%
NOC	D	-0.56%
SCHW	B	-0.56%
PFE	D	-0.56%
SEIC	B	-0.54%
C	A	-0.54%
PYPL	B	-0.54%
ZM	B	-0.52%
CVNA	B	-0.52%
MMC	B	-0.52%
TXT	D	-0.51%
DBX	B	-0.51%
MSCI	C	-0.49%
CMG	B	-0.49%
MU	D	-0.47%
ZBRA	B	-0.47%
GE	D	-0.45%
IGT	F	-0.45%
COST	B	-0.45%
ALLE	D	-0.44%
RTX	C	-0.44%
CSX	B	-0.43%
AXP	A	-0.43%
EXEL	B	-0.43%
PCAR	B	-0.42%
ALRM	C	-0.4%
WM	A	-0.38%
CME	A	-0.37%
BK	A	-0.36%
TDC	D	-0.35%
PPG	F	-0.34%
NOW	A	-0.34%
ANF	C	-0.33%
LDOS	C	-0.32%
NUE	C	-0.32%
MEDP	D	-0.31%
GRMN	B	-0.31%
CACI	D	-0.3%
SKYW	B	-0.29%
SPGI	C	-0.28%
HWM	A	-0.27%
INCY	C	-0.27%
TMO	F	-0.26%
IDXX	F	-0.26%
NSC	B	-0.26%
FTNT	C	-0.24%
AMT	D	-0.24%
AMGN	D	-0.24%
BLK	C	-0.23%
LHX	C	-0.23%
AME	A	-0.22%
MGM	D	-0.22%
CVS	D	-0.22%
MMM	D	-0.22%
BIIB	F	-0.21%
XEL	A	-0.21%
RSG	A	-0.2%
GL	B	-0.2%
CLX	B	-0.2%
PSA	D	-0.19%
GAP	C	-0.18%
DOCU	A	-0.18%
HLT	A	-0.18%
LNW	D	-0.17%
FTI	A	-0.17%
ADP	B	-0.16%
WDAY	B	-0.16%
MS	A	-0.16%
PEGA	A	-0.16%
F	C	-0.15%
TPH	D	-0.15%
ETN	A	-0.15%
WFC	A	-0.15%
UBER	D	-0.14%
DASH	A	-0.12%
VEEV	C	-0.12%
CINF	A	-0.12%
SOLV	C	-0.12%
NBIX	C	-0.11%
BBWI	D	-0.11%
QRVO	F	-0.11%
KR	B	-0.11%
PLTK	B	-0.1%
MKL	A	-0.09%
BAH	F	-0.09%
DOC	D	-0.08%
BCC	B	-0.07%
MDLZ	F	-0.07%
L	A	-0.07%
TENB	C	-0.06%
CRUS	D	-0.06%
LYFT	C	-0.06%
BLD	D	-0.05%
UTHR	C	-0.05%
QGEN	D	-0.04%
SCCO	F	-0.04%
LPLA	A	-0.03%
CVX	A	-0.02%
MHO	D	-0.02%
TWLO	A	-0.02%
UNM	A	-0.01%
NWL	B	-0.01%
OGE	B	-0.01%