VALQ vs. FBUF ETF Comparison

Comparison of American Century STOXX U.S. Quality Value ETF (VALQ) to Fidelity Dynamic Buffered Equity ETF (FBUF)

VALQ

American Century STOXX U.S. Quality Value ETF

VALQ Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the iSTOXX® American Century USA Quality Value Index (the underlying index). Under normal market conditions, the fund invests at least 80% of its assets in the component securities of the underlying index. The underlying index is designed to select securities of large- and mid-capitalization companies that are undervalued or have sustainable income.

Grade (RS Rating)

Last Trade

$63.92

Average Daily Volume

6,261

Number of Holdings ^*

241

* may have additional holdings in another (foreign) market

FBUF

Fidelity Dynamic Buffered Equity ETF

FBUF Description

FBUF seeks capital appreciation by investing in a large-cap equity portfolio of US and foreign stocks while utilizing a defensive options collar strategy. The fund aims to outperform the S&P 500 by picking stocks using a computer-aided, quantitative analysis of historical valuation, growth, and profitability, among other factors. The proprietary process seeks to find the optimal portfolio holdings, overweight stocks with positive characteristics, and manage benchmark relative risks. For the options strategy, the fund typically buys out-of-the-money put options on the S&P 500 Index and simultaneously sells out-of-the-money S&P 500 Index call options. Premium earned from writing calls is intended to offset the cost of buying puts, but this essentially caps the upside returns of the equity portfolio. For a continuous downside hedge, the adviser selects put options through a laddered approach that rolls monthly. The adviser diversifies the written call positions, which are rolled weekly, with different strike prices and expiration dates.

Grade (RS Rating)

Last Trade

$27.53

Average Daily Volume

5,177

Number of Holdings ^*

155

* may have additional holdings in another (foreign) market

Performance

Period	VALQ	FBUF
30 Days	3.97%	3.10%
60 Days	4.17%	4.70%
90 Days	6.47%	6.08%
12 Months	28.71%

68 Overlapping Holdings

Symbol	Grade	Weight in VALQ	Weight in FBUF	Overlap
AAPL	C	2.63%	7.34%	2.63%
ABBV	D	1.67%	0.91%	0.91%
ADBE	C	0.09%	0.94%	0.09%
ALLE	D	0.55%	0.38%	0.38%
AMAT	F	0.08%	0.67%	0.08%
AMZN	C	2.22%	3.84%	2.22%
ANF	C	0.14%	0.35%	0.14%
AVGO	D	0.09%	1.62%	0.09%
BK	A	0.1%	0.12%	0.1%
BMY	B	0.82%	0.74%	0.74%
BRK.A	B	0.09%	2.2%	0.09%
CACI	D	0.09%	0.17%	0.09%
CAH	B	0.84%	0.31%	0.31%
CAT	B	0.2%	0.53%	0.2%
CI	F	0.66%	0.63%	0.63%
CL	D	1.71%	0.55%	0.55%
CLX	B	1.55%	0.14%	0.14%
CMCSA	B	2.31%	0.84%	0.84%
CRUS	D	0.18%	0.07%	0.07%
CSCO	B	0.72%	0.8%	0.72%
CTAS	B	1.84%	0.65%	0.65%
DBX	B	0.38%	0.52%	0.38%
DOCU	A	0.33%	0.09%	0.09%
ECL	D	0.45%	0.63%	0.45%
EXEL	B	0.14%	0.43%	0.14%
FTNT	C	0.11%	0.2%	0.11%
GAP	C	0.15%	0.21%	0.15%
GILD	C	0.11%	0.74%	0.11%
GL	B	0.11%	0.13%	0.11%
GOOGL	C	0.62%	2.04%	0.62%
HD	A	1.96%	1.32%	1.32%
IDXX	F	0.13%	0.15%	0.13%
IGT	F	0.07%	0.46%	0.07%
INCY	C	0.1%	0.34%	0.1%
ITW	B	0.91%	0.14%	0.14%
JNJ	D	0.08%	0.73%	0.08%
KLAC	D	0.07%	0.61%	0.07%
KR	B	0.23%	0.12%	0.12%
LDOS	C	0.09%	0.31%	0.09%
LMT	D	0.09%	0.71%	0.09%
LRCX	F	0.07%	0.24%	0.07%
MEDP	D	0.07%	0.28%	0.07%
META	D	0.1%	2.89%	0.1%
MMM	D	0.11%	0.19%	0.11%
MSFT	F	0.26%	5.66%	0.26%
MSI	B	2.23%	0.43%	0.43%
NFLX	A	1.99%	1.28%	1.28%
PEGA	A	0.12%	0.02%	0.02%
PG	A	1.07%	0.8%	0.8%
PGR	A	0.09%	0.67%	0.09%
PPG	F	0.15%	0.34%	0.15%
PYPL	B	0.8%	0.72%	0.72%
QCOM	F	0.52%	0.85%	0.52%
QRVO	F	0.05%	0.06%	0.05%
SEIC	B	0.76%	0.54%	0.54%
SPG	B	1.76%	0.44%	0.44%
SSNC	B	0.08%	0.18%	0.08%
TJX	A	0.17%	0.72%	0.17%
TOL	B	1.07%	0.02%	0.02%
TROW	B	0.09%	0.28%	0.09%
TT	A	0.26%	0.68%	0.26%
TWLO	A	0.13%	0.09%	0.09%
TXT	D	0.08%	0.5%	0.08%
UBER	D	1.19%	0.24%	0.24%
UNM	A	0.11%	0.1%	0.1%
UTHR	C	0.14%	0.04%	0.04%
WMT	A	2.19%	0.82%	0.82%
ZM	B	0.38%	0.53%	0.38%

VALQ Overweight 173 Positions Relative to FBUF

Symbol	Grade	Weight
IBM	C	2.04%
INGR	B	1.94%
KMB	D	1.91%
EBAY	D	1.88%
ETN	A	1.87%
APH	A	1.76%
HPQ	B	1.72%
KO	D	1.66%
VLTO	D	1.55%
TXN	C	1.48%
TGT	F	1.47%
JLL	D	1.45%
MAS	D	1.21%
OC	A	1.15%
LYB	F	1.14%
BBY	D	1.12%
OTIS	C	1.03%
SFM	A	1.02%
GPC	D	0.93%
TPR	B	0.92%
MTD	D	0.88%
LECO	B	0.86%
CTSH	B	0.8%
DOX	D	0.68%
NVT	B	0.68%
IVZ	B	0.64%
DCI	B	0.61%
MO	A	0.56%
HRB	D	0.54%
NYT	C	0.53%
AYI	B	0.51%
FFIV	B	0.51%
REYN	D	0.46%
MTG	C	0.42%
CBT	C	0.41%
NTAP	C	0.41%
HUBB	B	0.41%
G	B	0.39%
FLS	B	0.36%
AZEK	A	0.33%
SHW	A	0.33%
ARW	D	0.32%
GWW	B	0.32%
AMCR	D	0.31%
SM	B	0.3%
JBL	B	0.29%
NOVT	D	0.29%
WSM	B	0.29%
QLYS	C	0.28%
APP	B	0.27%
PH	A	0.26%
FICO	B	0.25%
FLO	D	0.23%
NEU	C	0.23%
COLM	B	0.21%
MPC	D	0.21%
BRBR	A	0.2%
ADSK	A	0.2%
ORI	A	0.19%
UHS	D	0.19%
DVA	B	0.19%
JEF	A	0.19%
NSIT	F	0.18%
LEN	D	0.17%
LAMR	D	0.17%
CR	A	0.17%
DDS	B	0.16%
DPZ	C	0.16%
SYY	B	0.15%
ROST	C	0.15%
ALSN	B	0.14%
LFUS	F	0.14%
WING	D	0.13%
EXPE	B	0.13%
AMKR	D	0.13%
EME	C	0.13%
DKS	C	0.12%
SYF	B	0.12%
SNA	A	0.11%
MLI	C	0.11%
AXS	A	0.11%
AIT	A	0.11%
BKNG	A	0.11%
GDDY	A	0.1%
STLD	B	0.1%
AXTA	A	0.1%
PKG	A	0.1%
FOXA	B	0.1%
VMI	B	0.1%
TAP	C	0.1%
TXRH	C	0.1%
GM	B	0.1%
NTRS	A	0.1%
RHI	B	0.1%
THC	D	0.1%
RL	B	0.1%
EPAM	C	0.1%
BYD	C	0.1%
EVR	B	0.1%
TRMB	B	0.1%
KEYS	A	0.09%
RMD	C	0.09%
BWA	D	0.09%
MSM	C	0.09%
TMHC	B	0.09%
DLB	B	0.09%
VRSN	F	0.09%
INFA	D	0.09%
L	A	0.09%
COR	B	0.09%
JKHY	D	0.09%
DGX	A	0.09%
FIZZ	C	0.09%
CSL	C	0.09%
MANH	D	0.09%
OMC	C	0.09%
JAZZ	B	0.09%
BMI	B	0.09%
RGA	A	0.09%
ALL	A	0.09%
SWKS	F	0.09%
HIG	B	0.09%
MCK	B	0.09%
FDX	B	0.09%
CMC	B	0.09%
EA	A	0.09%
AIZ	A	0.09%
EHC	B	0.09%
OMF	A	0.09%
HPE	B	0.09%
ALKS	B	0.09%
FIS	C	0.09%
WTS	B	0.09%
CHTR	C	0.09%
STT	A	0.09%
USFD	A	0.09%
AMG	B	0.09%
MHK	D	0.08%
COKE	C	0.08%
CAG	D	0.08%
GIS	D	0.08%
AN	C	0.08%
KBH	D	0.08%
EG	C	0.08%
VLO	C	0.08%
NXST	C	0.08%
PHM	D	0.08%
MAT	D	0.08%
EEFT	B	0.08%
POST	C	0.08%
EXPD	D	0.08%
PVH	C	0.08%
SAIC	F	0.08%
NVR	D	0.08%
BERY	B	0.08%
PARA	C	0.08%
ADTN	A	0.08%
TSN	B	0.08%
K	A	0.08%
CCK	C	0.08%
TER	D	0.07%
IQV	D	0.07%
ALLY	C	0.07%
SWK	D	0.07%
CPB	D	0.07%
SKX	D	0.07%
MMS	F	0.07%
AOS	F	0.07%
TKR	D	0.07%
AKAM	D	0.07%
CROX	D	0.06%
ELV	F	0.06%
CNC	D	0.06%

VALQ Underweight 87 Positions Relative to FBUF

Symbol	Grade	Weight
NVDA	C	-7.37%
JPM	A	-1.93%
GOOG	C	-1.89%
XOM	B	-1.56%
MA	C	-1.36%
TSLA	B	-1.27%
BAC	A	-1.18%
CRM	B	-1.16%
MRK	F	-0.96%
PM	B	-0.94%
NEE	D	-0.82%
SCHW	B	-0.79%
LLY	F	-0.76%
UNP	C	-0.75%
C	A	-0.72%
T	A	-0.71%
V	A	-0.65%
DIS	B	-0.65%
ABT	B	-0.63%
SQ	B	-0.6%
NOC	D	-0.6%
BDX	F	-0.58%
UNH	C	-0.57%
MMC	B	-0.53%
ZBRA	B	-0.52%
CVNA	B	-0.52%
DVN	F	-0.52%
MU	D	-0.5%
NOW	A	-0.5%
CSX	B	-0.49%
GE	D	-0.48%
EOG	A	-0.48%
CMG	B	-0.47%
CME	A	-0.44%
GRMN	B	-0.44%
AXP	A	-0.43%
WM	A	-0.41%
PFE	D	-0.41%
TMO	F	-0.38%
HWM	A	-0.38%
PCAR	B	-0.37%
NUE	C	-0.36%
TDC	D	-0.35%
ALRM	C	-0.34%
F	C	-0.33%
SKYW	B	-0.31%
COST	B	-0.3%
RTX	C	-0.28%
TMUS	B	-0.28%
WFC	A	-0.28%
TRV	B	-0.26%
ADP	B	-0.26%
MSCI	C	-0.26%
AMGN	D	-0.25%
SYK	C	-0.24%
CVS	D	-0.23%
RSG	A	-0.23%
MGM	D	-0.23%
AMT	D	-0.21%
LHX	C	-0.21%
SPGI	C	-0.21%
BIIB	F	-0.21%
PEP	F	-0.19%
TPH	D	-0.18%
PSA	D	-0.17%
LNW	D	-0.16%
BBWI	D	-0.16%
OXY	D	-0.15%
VST	B	-0.14%
GEN	B	-0.13%
INTU	C	-0.12%
AON	A	-0.12%
NSC	B	-0.11%
DASH	A	-0.11%
LPLA	A	-0.11%
ED	D	-0.1%
AME	A	-0.09%
NRG	B	-0.09%
LYFT	C	-0.08%
CINF	A	-0.07%
PLTK	B	-0.07%
NBIX	C	-0.06%
ANET	C	-0.06%
ORCL	B	-0.04%
VEEV	C	-0.04%
TNL	A	-0.04%
CVX	A	-0.02%