VAW vs. FFSM ETF Comparison

Comparison of Vanguard Materials ETF - DNQ (VAW) to Fidelity Fundamental Small-Mid Cap ETF (FFSM)

VAW

Vanguard Materials ETF - DNQ

VAW Description

The investment seeks to track the performance of a benchmark index. The fund employs an indexing investment approach designed to track the performance of the MSCI US Investable Market Index (IMI)/Materials 25/50, an index made up of stocks of large, mid-size, and small U.S. companies within the materials sector, as classified under the Global Industry Classification Standard (GICS). It attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$210.70

Average Daily Volume

29,654

Number of Holdings ^*

116

* may have additional holdings in another (foreign) market

FFSM

Fidelity Fundamental Small-Mid Cap ETF

FFSM Description

FFSM discloses holdings only on a monthly basis with a 30-day lag. The fund actively selects global mid- and small-cap companies with both growth and value factors. The portfolio is selected using fundamental and quantitative analysis, considering factors such as issuer's financial health and industry position, as well as the overall economic condition. The fund has a Tracking Basket Structure in place, which acts as a proxy portfolio that includes some of the funds holdings from recent disclosure, significant portion of the funds holdings, and cash. This is designed to track the funds daily performance, facilitate arbitrage opportunities and help mitigate the risk of front-running. However, investors should note that its non-transparent structure could result in wider spreads. Before February 26, 2024, the fund traded as Fidelity Small-Mid Cap Opportunities ETF under the ticker FSMO.

Grade (RS Rating)

Last Trade

$29.06

Average Daily Volume

28,472

Number of Holdings ^*

171

* may have additional holdings in another (foreign) market

Performance

Period	VAW	FFSM
30 Days	0.05%	7.11%
60 Days	1.55%	5.92%
90 Days	3.86%	6.92%
12 Months	20.40%	35.08%

11 Overlapping Holdings

Symbol	Grade	Weight in VAW	Weight in FFSM	Overlap
AXTA	A	0.59%	0.42%	0.42%
CBT	C	0.42%	0.59%	0.42%
CC	C	0.19%	0.01%	0.01%
CMC	B	0.43%	0.6%	0.43%
ESI	A	0.44%	0.54%	0.44%
EXP	A	0.68%	1.44%	0.68%
GPK	C	0.61%	0.71%	0.61%
IP	B	1.29%	0.37%	0.37%
LPX	B	0.45%	0.65%	0.45%
OLN	D	0.34%	0.45%	0.34%
STLD	B	1.37%	0.01%	0.01%

VAW Overweight 105 Positions Relative to FFSM

Symbol	Grade	Weight
LIN	D	15.38%
SHW	A	6.06%
APD	A	4.84%
FCX	D	4.54%
ECL	D	4.43%
NEM	D	3.68%
CTVA	C	2.98%
MLM	B	2.56%
VMC	B	2.54%
DOW	F	2.44%
DD	D	2.43%
NUE	C	2.39%
PPG	F	2.05%
SW	A	1.88%
IFF	D	1.78%
LYB	F	1.59%
PKG	A	1.44%
BALL	D	1.29%
AVY	D	1.17%
RPM	A	1.15%
RS	B	1.15%
AMCR	D	1.13%
CF	B	1.05%
CE	F	0.96%
EMN	D	0.87%
CCK	C	0.79%
ATR	B	0.78%
ALB	C	0.68%
AA	B	0.66%
X	C	0.61%
MOS	F	0.6%
FMC	D	0.57%
BERY	B	0.56%
RGLD	C	0.5%
CRS	A	0.49%
ATI	D	0.46%
CLF	F	0.43%
SUM	B	0.41%
BCPC	B	0.38%
KNF	A	0.37%
SEE	C	0.37%
WLK	D	0.36%
SON	D	0.36%
SLGN	A	0.31%
AVNT	B	0.3%
FUL	F	0.28%
ASH	D	0.28%
NEU	C	0.27%
HL	D	0.27%
SMG	D	0.26%
HUN	F	0.25%
HCC	B	0.23%
SLVM	B	0.21%
IOSP	B	0.19%
SXT	B	0.19%
ARCH	B	0.18%
CDE	D	0.18%
MTX	B	0.17%
MP	B	0.16%
AMR	C	0.16%
MTRN	C	0.15%
HWKN	B	0.15%
KWR	C	0.15%
PRM	C	0.13%
OI	C	0.12%
PCT	C	0.11%
GEF	A	0.11%
SCL	C	0.11%
NGVT	B	0.1%
TROX	D	0.1%
WS	B	0.09%
USLM	A	0.09%
ASPN	F	0.08%
KALU	C	0.08%
CENX	B	0.07%
TRS	B	0.07%
MATV	D	0.06%
SXC	A	0.06%
OEC	C	0.06%
RYI	C	0.05%
KOP	C	0.05%
IE	C	0.05%
ECVT	C	0.05%
GATO	D	0.05%
ASIX	A	0.05%
HAYN	C	0.05%
PTVE	B	0.04%
MTUS	C	0.04%
ZEUS	C	0.03%
MYE	F	0.03%
LXU	B	0.03%
CLW	F	0.03%
RDUS	C	0.03%
CMP	C	0.03%
PLL	C	0.02%
IPI	B	0.02%
MERC	F	0.02%
KRO	D	0.02%
PACK	B	0.02%
METC	C	0.02%
AVD	D	0.01%
TSE	F	0.01%
ORGN	D	0.01%
FEAM	F	0.0%
DNMR	F	0.0%

VAW Underweight 160 Positions Relative to FFSM

Symbol	Grade	Weight
EME	C	-1.81%
UHS	D	-1.5%
FTI	A	-1.47%
TPX	B	-1.46%
ACGL	D	-1.45%
MUSA	A	-1.34%
NSIT	F	-1.33%
AR	B	-1.27%
BJ	A	-1.22%
FN	D	-1.22%
ITT	A	-1.2%
CROX	D	-1.17%
PFGC	B	-1.16%
USFD	A	-1.16%
VRT	B	-1.14%
SN	D	-1.11%
JLL	D	-1.1%
MOH	F	-1.1%
CACI	D	-1.06%
WHD	B	-1.01%
CR	A	-1.01%
RRX	B	-1.01%
ORI	A	-0.96%
SNX	C	-0.95%
DOX	D	-0.92%
AIZ	A	-0.91%
BOOT	D	-0.9%
TMDX	F	-0.9%
LNG	B	-0.9%
DFS	B	-0.89%
AIT	A	-0.88%
SNV	B	-0.88%
DKS	C	-0.84%
STX	D	-0.84%
AYI	B	-0.81%
TGLS	B	-0.81%
FAF	A	-0.77%
ALSN	B	-0.76%
BC	C	-0.76%
VTR	C	-0.76%
RGA	A	-0.76%
NXST	C	-0.75%
SF	B	-0.75%
PNFP	B	-0.73%
PCG	A	-0.72%
HLI	B	-0.71%
AEIS	B	-0.66%
ACM	A	-0.66%
ASGN	F	-0.65%
AES	F	-0.65%
KBH	D	-0.64%
FCNCA	A	-0.63%
ON	D	-0.62%
BECN	B	-0.61%
MMS	F	-0.6%
FSS	B	-0.6%
LBRT	D	-0.59%
G	B	-0.59%
VNT	B	-0.59%
CADE	B	-0.59%
WBS	A	-0.57%
NOG	A	-0.57%
MEDP	D	-0.57%
MTSI	B	-0.57%
PRI	A	-0.56%
EPRT	B	-0.56%
HOLX	D	-0.56%
XPO	B	-0.56%
BCO	D	-0.56%
CHDN	B	-0.54%
CIEN	B	-0.53%
ASO	F	-0.53%
WTFC	A	-0.52%
CRL	C	-0.52%
CWK	B	-0.51%
RJF	A	-0.51%
PVH	C	-0.51%
HAYW	B	-0.51%
IESC	B	-0.51%
GMS	B	-0.51%
WIX	B	-0.5%
AFG	A	-0.49%
EBC	B	-0.49%
CTRE	D	-0.49%
EAT	A	-0.47%
CNM	D	-0.47%
KBR	F	-0.46%
BOKF	B	-0.46%
BLDR	D	-0.46%
TENB	C	-0.45%
PRCT	B	-0.44%
LITE	B	-0.44%
NOMD	D	-0.42%
TEX	D	-0.42%
ARGX	A	-0.41%
COMP	B	-0.4%
LW	C	-0.4%
MASI	A	-0.39%
CXT	B	-0.36%
CAH	B	-0.36%
GVA	A	-0.35%
RUSHA	C	-0.35%
AZZ	B	-0.34%
GTES	A	-0.33%
WFRD	D	-0.33%
PCVX	D	-0.32%
FLEX	A	-0.31%
AZEK	A	-0.3%
UPBD	B	-0.3%
ARCB	C	-0.3%
MTB	A	-0.3%
SKY	A	-0.3%
LEA	D	-0.3%
GRBK	D	-0.3%
CNXC	F	-0.29%
IBTX	B	-0.29%
FBP	B	-0.29%
LCII	C	-0.29%
DIOD	D	-0.27%
AMN	F	-0.27%
ALGM	D	-0.24%
LAUR	A	-0.24%
DOOO	F	-0.23%
PATK	D	-0.2%
CRNX	C	-0.19%
ACLX	C	-0.19%
RGEN	D	-0.19%
KFRC	D	-0.18%
CYTK	F	-0.18%
MDGL	B	-0.16%
NUVL	D	-0.16%
AAP	C	-0.15%
XPRO	F	-0.14%
MNDY	C	-0.14%
KROS	D	-0.13%
ELVN	D	-0.12%
VCEL	B	-0.12%
VRDN	D	-0.12%
OMI	F	-0.12%
AXSM	B	-0.11%
ANAB	F	-0.11%
CSTM	F	-0.11%
TYRA	F	-0.11%
COGT	D	-0.11%
LBPH	A	-0.1%
ICLR	D	-0.1%
CLDX	F	-0.1%
XENE	D	-0.09%
AUTL	F	-0.08%
TCBK	B	-0.08%
MRUS	F	-0.07%
PBH	A	-0.06%
ARVN	D	-0.04%
ATKR	C	-0.01%
FIBK	A	-0.01%
LPLA	A	-0.01%
AME	A	-0.01%
ALXO	F	-0.0%
EWTX	C	-0.0%
ZNTL	F	-0.0%