SHUS vs. FHEQ ETF Comparison

Comparison of Syntax Stratified U.S. Total Market Hedged ETF (SHUS) to Fidelity Hedged Equity ETF (FHEQ)

SHUS

Syntax Stratified U.S. Total Market Hedged ETF

SHUS Description

The investment seeks to obtain capital growth that meets or exceeds the performance of the S&P Composite 1500® Index over a full market cycle by investing in ETFs or underlying securities that provide Stratified WeightTM U.S. total equity market exposure to companies in the 1500 while seeking risk-managed growth via a defined risk hedging process. The fund will also invest in index options for risk management purposes and to seek to generate additional returns. Syntax?s Stratified Weight? is designed to correct for business risk concentrations that regularly occur in cap-weighted indices and equal-weighted indices.

Grade (RS Rating)

Last Trade

$44.29

Average Daily Volume

2,444

Number of Holdings ^*

500

* 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	SHUS	FHEQ
30 Days	2.26%	2.51%
60 Days	3.81%	3.80%
90 Days	5.24%	4.54%
12 Months	15.89%

127 Overlapping Holdings

Symbol	Grade	Weight in SHUS	Weight in FHEQ	Overlap
AAPL	C	0.49%	7.31%	0.49%
ABBV	D	0.24%	1.0%	0.24%
ADBE	C	0.15%	0.93%	0.15%
ADP	B	0.21%	0.16%	0.16%
ALL	A	0.19%	0.07%	0.07%
ALLE	D	0.07%	0.44%	0.07%
AMAT	F	0.17%	0.7%	0.17%
AME	A	0.12%	0.22%	0.12%
AMGN	D	0.23%	0.24%	0.23%
AMT	D	0.06%	0.24%	0.06%
AMZN	C	0.21%	3.64%	0.21%
ANET	C	0.21%	0.08%	0.08%
AVGO	D	0.22%	1.49%	0.22%
AXP	A	0.05%	0.43%	0.05%
BAC	A	0.12%	1.17%	0.12%
BBWI	D	0.19%	0.11%	0.11%
BDX	F	0.05%	0.59%	0.05%
BIIB	F	0.24%	0.21%	0.21%
BK	A	0.11%	0.36%	0.11%
BLK	C	0.09%	0.23%	0.09%
BMY	B	0.25%	0.68%	0.25%
BRK.A	B	0.49%	2.19%	0.49%
C	A	0.13%	0.54%	0.13%
CAH	B	0.19%	0.4%	0.19%
CAT	B	0.14%	0.48%	0.14%
CI	F	0.18%	0.63%	0.18%
CINF	A	0.14%	0.12%	0.12%
CL	D	0.4%	0.58%	0.4%
CLX	B	0.41%	0.2%	0.2%
CMCSA	B	0.51%	0.83%	0.51%
CME	A	0.04%	0.37%	0.04%
CMG	B	0.49%	0.49%	0.49%
COST	B	0.7%	0.45%	0.45%
CRM	B	0.35%	1.09%	0.35%
CSCO	B	0.21%	0.79%	0.21%
CSX	B	0.08%	0.43%	0.08%
CTAS	B	0.17%	0.66%	0.17%
CVS	D	0.68%	0.22%	0.22%
CVX	A	0.75%	0.02%	0.02%
DIS	B	0.2%	0.57%	0.2%
DOC	D	0.11%	0.08%	0.08%
DVN	F	0.16%	0.53%	0.16%
ECL	D	0.05%	0.62%	0.05%
EOG	A	0.07%	0.43%	0.07%
ETN	A	0.26%	0.15%	0.15%
F	C	0.24%	0.15%	0.15%
FTNT	C	0.17%	0.24%	0.17%
GE	D	0.17%	0.45%	0.17%
GEHC	F	0.1%	0.17%	0.1%
GEN	B	0.17%	0.13%	0.13%
GILD	C	0.24%	0.73%	0.24%
GL	B	0.19%	0.2%	0.19%
GOOG	C	0.22%	1.74%	0.22%
GOOGL	C	0.22%	2.02%	0.22%
GRMN	B	0.32%	0.31%	0.31%
HD	A	0.25%	1.32%	0.25%
HLT	A	0.12%	0.18%	0.12%
HWM	A	0.07%	0.27%	0.07%
IDXX	F	0.09%	0.26%	0.09%
INCY	C	0.25%	0.27%	0.25%
JNJ	D	0.23%	0.61%	0.23%
JPM	A	0.12%	1.82%	0.12%
KLAC	D	0.17%	0.54%	0.17%
KR	B	0.73%	0.11%	0.11%
L	A	0.49%	0.07%	0.07%
LDOS	C	0.13%	0.32%	0.13%
LHX	C	0.08%	0.23%	0.08%
LLY	F	0.23%	0.76%	0.23%
LMT	D	0.08%	0.69%	0.08%
MA	C	0.05%	1.34%	0.05%
MDLZ	F	0.18%	0.07%	0.07%
META	D	0.46%	2.87%	0.46%
MGM	D	0.07%	0.22%	0.07%
MMC	B	0.03%	0.52%	0.03%
MMM	D	0.17%	0.22%	0.17%
MRK	F	0.24%	0.69%	0.24%
MS	A	0.26%	0.16%	0.16%
MSCI	C	0.04%	0.49%	0.04%
MSFT	F	0.32%	5.64%	0.32%
MSI	B	0.49%	0.26%	0.26%
MU	D	0.15%	0.47%	0.15%
NEE	D	0.24%	0.73%	0.24%
NFLX	A	0.22%	1.26%	0.22%
NOC	D	0.08%	0.56%	0.08%
NOW	A	0.22%	0.34%	0.22%
NSC	B	0.08%	0.26%	0.08%
NUE	C	0.25%	0.32%	0.25%
NVDA	C	0.13%	7.27%	0.13%
ORCL	B	0.34%	0.04%	0.04%
PCAR	B	0.12%	0.42%	0.12%
PFE	D	0.24%	0.56%	0.24%
PG	A	0.41%	0.87%	0.41%
PGR	A	0.19%	0.63%	0.19%
PM	B	0.35%	0.92%	0.35%
PPG	F	0.07%	0.34%	0.07%
PSA	D	0.1%	0.19%	0.1%
PYPL	B	0.06%	0.54%	0.06%
QCOM	F	0.22%	0.84%	0.22%
QRVO	F	0.21%	0.11%	0.11%
ROST	C	0.71%	0.1%	0.1%
RSG	A	0.18%	0.2%	0.18%
RTX	C	0.08%	0.44%	0.08%
SCHW	B	0.25%	0.56%	0.25%
SOLV	C	0.05%	0.12%	0.05%
SPG	B	0.06%	0.16%	0.06%
SPGI	C	0.04%	0.28%	0.04%
T	A	0.33%	0.67%	0.33%
TJX	A	0.71%	0.73%	0.71%
TMO	F	0.14%	0.26%	0.14%
TMUS	B	0.33%	0.29%	0.29%
TROW	B	0.08%	0.23%	0.08%
TRV	B	0.14%	0.49%	0.14%
TSLA	B	0.27%	1.26%	0.27%
TT	A	0.08%	0.69%	0.08%
TXT	D	0.16%	0.51%	0.16%
UBER	D	0.11%	0.14%	0.11%
UNH	C	0.25%	0.57%	0.25%
UNP	C	0.08%	0.73%	0.08%
V	A	0.04%	0.47%	0.04%
VST	B	0.4%	0.11%	0.11%
VZ	C	0.32%	0.18%	0.18%
WFC	A	0.13%	0.15%	0.13%
WM	A	0.18%	0.38%	0.18%
WMT	A	0.72%	0.8%	0.72%
XEL	A	0.07%	0.21%	0.07%
XOM	B	0.75%	1.54%	0.75%
ZBRA	B	0.13%	0.47%	0.13%

SHUS Overweight 373 Positions Relative to FHEQ

Symbol	Grade	Weight
SYY	B	0.73%
COF	B	0.69%
SYF	B	0.68%
DFS	B	0.68%
WBA	F	0.63%
DPZ	C	0.52%
PSX	C	0.5%
DRI	B	0.5%
YUM	B	0.5%
EL	F	0.49%
VLO	C	0.49%
MCD	D	0.49%
SBUX	A	0.48%
EA	A	0.48%
MPC	D	0.48%
TTWO	A	0.48%
MTCH	D	0.46%
CHTR	C	0.46%
KVUE	A	0.41%
KMB	D	0.41%
BWA	D	0.41%
CHD	B	0.41%
PWR	A	0.4%
APTV	D	0.39%
J	F	0.39%
CEG	D	0.38%
JBL	B	0.37%
HRL	D	0.36%
ADM	D	0.36%
BG	F	0.36%
BKR	B	0.35%
MO	A	0.35%
TSN	B	0.35%
SLB	C	0.34%
SNPS	B	0.34%
HPQ	B	0.34%
NKE	D	0.33%
IPG	D	0.33%
OMC	C	0.33%
HCA	F	0.33%
CDNS	B	0.33%
IBM	C	0.33%
HAL	C	0.33%
AWK	D	0.32%
RL	B	0.32%
UHS	D	0.32%
ATO	A	0.32%
NI	A	0.32%
TPR	B	0.32%
NRG	B	0.32%
AES	F	0.31%
NVR	D	0.3%
LULU	C	0.3%
FCX	D	0.29%
EXC	C	0.29%
DECK	A	0.29%
UAL	A	0.28%
VRSN	F	0.27%
STLD	B	0.27%
DAL	C	0.27%
HUM	C	0.26%
HUBB	B	0.26%
EQIX	A	0.26%
SWK	D	0.26%
DLR	B	0.26%
GDDY	A	0.26%
AKAM	D	0.26%
ZTS	D	0.25%
STZ	D	0.25%
PHM	D	0.25%
MOH	F	0.25%
LUV	C	0.25%
KMI	A	0.25%
MNST	C	0.25%
ETR	B	0.25%
TAP	C	0.25%
SNA	A	0.25%
CNP	B	0.25%
RJF	A	0.25%
LOW	D	0.25%
ENPH	F	0.25%
HAS	D	0.25%
PEG	A	0.25%
GS	A	0.25%
CNC	D	0.25%
AEP	D	0.24%
D	C	0.24%
TRGP	B	0.24%
OKE	A	0.24%
FE	C	0.24%
VTRS	A	0.24%
ED	D	0.24%
KDP	D	0.24%
WMB	A	0.24%
NEM	D	0.24%
GM	B	0.24%
LEN	D	0.24%
ELV	F	0.24%
KO	D	0.24%
DTE	C	0.24%
CTLT	B	0.24%
EIX	B	0.24%
REGN	F	0.23%
NXPI	D	0.23%
VRTX	F	0.23%
MRNA	F	0.23%
DHI	D	0.23%
LW	C	0.22%
EBAY	D	0.22%
DAY	B	0.22%
PLTR	B	0.22%
ADI	D	0.22%
CPRT	A	0.22%
TXN	C	0.22%
ON	D	0.22%
KHC	F	0.21%
AOS	F	0.21%
MKC	D	0.21%
SWKS	F	0.21%
SJM	D	0.21%
MET	A	0.21%
GIS	D	0.21%
CAG	D	0.21%
PAYX	C	0.21%
PAYC	B	0.21%
TYL	B	0.21%
MPWR	F	0.21%
IR	B	0.2%
IEX	B	0.2%
AFL	B	0.2%
PARA	C	0.2%
FFIV	B	0.2%
CPB	D	0.2%
ERIE	D	0.2%
AIZ	A	0.2%
INTU	C	0.2%
HSIC	B	0.2%
FSLR	F	0.2%
PRU	A	0.2%
KEYS	A	0.2%
PFG	D	0.2%
TEL	B	0.19%
XYL	D	0.19%
MAS	D	0.19%
HPE	B	0.19%
WBD	C	0.19%
GLW	B	0.19%
PNR	A	0.19%
BLDR	D	0.19%
AIG	B	0.19%
JNPR	F	0.19%
CRWD	B	0.18%
EQT	B	0.18%
GEV	B	0.18%
ROL	B	0.18%
COR	B	0.18%
K	A	0.18%
MCK	B	0.18%
MHK	D	0.18%
APH	A	0.18%
TGT	F	0.17%
ANSS	B	0.17%
DG	F	0.17%
MLM	B	0.17%
NTAP	C	0.17%
DOV	A	0.17%
ITW	B	0.17%
WY	D	0.17%
BBY	D	0.17%
CTRA	B	0.17%
DLTR	F	0.17%
PTC	A	0.17%
DELL	C	0.17%
VMC	B	0.17%
STX	D	0.17%
WDC	D	0.17%
HSY	F	0.17%
PEP	F	0.17%
ULTA	F	0.17%
PANW	C	0.16%
INTC	D	0.16%
GD	F	0.16%
BA	F	0.16%
DGX	A	0.16%
LH	C	0.16%
HON	B	0.16%
ADSK	A	0.16%
TER	D	0.16%
TECH	D	0.15%
AZO	C	0.15%
GPC	D	0.15%
A	D	0.15%
WAT	B	0.15%
SMCI	F	0.15%
MTD	D	0.14%
CRL	C	0.14%
URI	B	0.14%
CB	C	0.14%
HIG	B	0.14%
AMD	F	0.14%
ACGL	D	0.14%
EG	C	0.14%
ORLY	B	0.14%
KMX	B	0.14%
LKQ	D	0.14%
IT	C	0.13%
EPAM	C	0.13%
POOL	C	0.13%
GWW	B	0.13%
CTSH	B	0.13%
DE	A	0.13%
WAB	B	0.13%
ACN	C	0.13%
BKNG	A	0.13%
MCHP	D	0.13%
WRB	A	0.13%
IQV	D	0.13%
SYK	C	0.12%
ABNB	C	0.12%
MAR	B	0.12%
EXPE	B	0.12%
STE	F	0.12%
ISRG	A	0.12%
CDW	F	0.12%
BALL	D	0.12%
ZBH	C	0.12%
FAST	B	0.12%
TSCO	D	0.12%
AMCR	D	0.12%
VTR	C	0.11%
DVA	B	0.11%
WELL	A	0.11%
EXR	D	0.11%
BR	A	0.11%
BXP	D	0.11%
HST	C	0.11%
STT	A	0.11%
HOLX	D	0.1%
PODD	C	0.1%
NWSA	B	0.1%
DHR	F	0.1%
NWS	B	0.1%
RVTY	F	0.1%
ESS	B	0.1%
INVH	D	0.1%
EQR	B	0.1%
FOX	A	0.1%
UDR	B	0.1%
ALGN	D	0.1%
MAA	B	0.1%
FOXA	B	0.1%
AVB	B	0.1%
ARE	D	0.1%
CPT	B	0.1%
AXON	A	0.09%
EXPD	D	0.09%
KKR	A	0.09%
CCL	B	0.09%
AMP	A	0.09%
CHRW	C	0.09%
NCLH	B	0.09%
CF	B	0.09%
IVZ	B	0.09%
LYV	A	0.09%
RMD	C	0.09%
DXCM	D	0.09%
SO	D	0.08%
PPL	B	0.08%
EVRG	A	0.08%
CARR	D	0.08%
LNT	A	0.08%
AEE	A	0.08%
JCI	C	0.08%
PH	A	0.08%
GNRC	B	0.08%
WYNN	D	0.08%
OTIS	C	0.08%
CMI	A	0.08%
HII	D	0.08%
BX	A	0.08%
ODFL	B	0.08%
NTRS	A	0.08%
LVS	C	0.08%
MOS	F	0.08%
JBHT	C	0.08%
CTVA	C	0.08%
FMC	D	0.08%
BEN	C	0.08%
RCL	A	0.08%
UPS	C	0.08%
LYB	F	0.07%
SW	A	0.07%
FANG	D	0.07%
OXY	D	0.07%
CZR	F	0.07%
COP	C	0.07%
MRO	B	0.07%
APA	D	0.07%
DOW	F	0.07%
HES	B	0.07%
PNW	B	0.07%
CE	F	0.07%
DUK	C	0.07%
WEC	A	0.07%
ES	D	0.07%
FDX	B	0.07%
PCG	A	0.07%
SRE	A	0.07%
CMS	C	0.07%
FI	A	0.06%
KEY	B	0.06%
RF	A	0.06%
PNC	B	0.06%
MTB	A	0.06%
EW	C	0.06%
ABT	B	0.06%
MDT	D	0.06%
BSX	B	0.06%
IP	B	0.06%
KIM	A	0.06%
REG	B	0.06%
AVY	D	0.06%
FRT	B	0.06%
PLD	D	0.06%
SBAC	D	0.06%
VICI	C	0.06%
CCI	D	0.06%
PKG	A	0.06%
O	D	0.06%
IRM	D	0.06%
TDG	D	0.06%
SHW	A	0.06%
APD	A	0.05%
IFF	D	0.05%
BAX	D	0.05%
WST	C	0.05%
TFX	F	0.05%
EMN	D	0.05%
ALB	C	0.05%
DD	D	0.05%
FIS	C	0.05%
JKHY	D	0.05%
HBAN	A	0.05%
TFC	A	0.05%
USB	A	0.05%
CFG	B	0.05%
FITB	A	0.05%
EFX	F	0.04%
WTW	B	0.04%
MCO	B	0.04%
AON	A	0.04%
CBRE	B	0.04%
CSGP	D	0.04%
GPN	B	0.04%
CBOE	B	0.04%
VRSK	A	0.04%
ICE	C	0.04%
FDS	B	0.04%
NDAQ	A	0.04%
CPAY	A	0.04%
MKTX	D	0.04%
LIN	D	0.04%
ROK	B	0.03%
FICO	B	0.03%
VLTO	D	0.03%
EMR	A	0.03%
NDSN	B	0.03%
FTV	C	0.03%
TRMB	B	0.03%
TDY	B	0.03%
ROP	B	0.03%
AJG	B	0.03%
BRO	B	0.03%

SHUS Underweight 41 Positions Relative to FHEQ

Symbol	Grade	Weight
SQ	B	-0.59%
SEIC	B	-0.54%
ZM	B	-0.52%
CVNA	B	-0.52%
DBX	B	-0.51%
IGT	F	-0.45%
EXEL	B	-0.43%
ALRM	C	-0.4%
TDC	D	-0.35%
ANF	C	-0.33%
MEDP	D	-0.31%
CACI	D	-0.3%
SKYW	B	-0.29%
LRCX	F	-0.23%
GAP	C	-0.18%
DOCU	A	-0.18%
LNW	D	-0.17%
FTI	A	-0.17%
WDAY	B	-0.16%
PEGA	A	-0.16%
TPH	D	-0.15%
DASH	A	-0.12%
VEEV	C	-0.12%
NBIX	C	-0.11%
PLTK	B	-0.1%
MKL	A	-0.09%
BAH	F	-0.09%
BCC	B	-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%
MHO	D	-0.02%
TWLO	A	-0.02%
UNM	A	-0.01%
NWL	B	-0.01%
OGE	B	-0.01%