CLSE vs. FFLG ETF Comparison

Comparison of Convergence Long/Short Equity ETF (CLSE) to Fidelity Fundamental Large Cap Growth ETF (FFLG)

CLSE

Convergence Long/Short Equity ETF

CLSE Description

The investment seeks long-term capital growth. The fund seeks to invest, under normal market conditions, at least 80% of its net assets (plus any borrowings for investment purposes) in long and short positions in equity securities of domestic companies. The adviser intends to maintain a net long exposure (the market value of long positions minus the market value of short positions) of approximately 50% to 100%. Under normal market conditions, the fund’s long positions may range from approximately 90% to 150% and its short positions may range from approximately 20% to 70%.

Grade (RS Rating)

Last Trade

$22.11

Average Daily Volume

53,246

Number of Holdings ^*

326

* may have additional holdings in another (foreign) market

FFLG

Fidelity Fundamental Large Cap Growth ETF

FFLG Description

FFLG seeks to achieve long-term capital growth by investing in large-cap companies believed to have above-average growth potential. The adviser generally defines large-caps as companies with similar market capitalizations to Russell 1000 or S&P 500 companies. Growth is measured based on factors such as earnings or revenue. Stocks are selected using fundamental analysis of factors such as financial condition and industry position of each issuer, as well as market and economic conditions. The adviser then incorporates a quantitative portfolio construction process to emphasize securities in which the adviser has high conviction, subject to risk, liquidity, and trading characteristics. The fund invests in both US and non-US companies. Despite its large-cap focus, the fund's strategy can lead to investments in small- and mid-cap companies. Before February 26, 2024, the fund traded as Fidelity Growth Opportunities ETF under the ticker FGRO. The fund previously used a semitransparent ETF structure

Grade (RS Rating)

Last Trade

$23.72

Average Daily Volume

52,006

Number of Holdings ^*

100

* may have additional holdings in another (foreign) market

Performance

Period	CLSE	FFLG
30 Days	2.69%	0.62%
60 Days	4.00%	0.92%
90 Days	2.60%	0.58%
12 Months	38.92%	45.84%

34 Overlapping Holdings

Symbol	Grade	Weight in CLSE	Weight in FFLG	Overlap
AAPL	C	2.26%	2.2%	2.2%
ACVA	B	-0.11%	0.25%	-0.11%
ADBE	F	-0.36%	1.01%	-0.36%
AGL	F	-0.09%	0.46%	-0.09%
ALNY	C	0.12%	0.1%	0.1%
AMZN	C	2.5%	5.21%	2.5%
ANET	A	1.86%	0.05%	0.05%
AVGO	C	2.58%	0.04%	0.04%
BA	F	-0.38%	0.74%	-0.38%
BE	F	-0.19%	0.14%	-0.19%
CLDX	C	-0.16%	0.22%	-0.16%
CNC	C	0.73%	0.5%	0.5%
CVNA	B	1.53%	0.66%	0.66%
DV	F	-0.5%	0.23%	-0.5%
FND	C	-0.59%	0.97%	-0.59%
GFS	F	-0.48%	0.28%	-0.48%
GOOG	D	1.22%	4.66%	1.22%
GOOGL	D	2.93%	2.8%	2.8%
LITE	B	-0.69%	0.26%	-0.69%
LPLA	F	-0.35%	1.04%	-0.35%
MDB	D	-0.5%	0.92%	-0.5%
META	A	3.15%	5.36%	3.15%
MRNA	F	-0.06%	0.1%	-0.06%
MSFT	C	1.12%	10.56%	1.12%
NFLX	B	0.31%	0.55%	0.31%
NVDA	D	4.12%	7.82%	4.12%
ON	F	-0.36%	1.9%	-0.36%
ORCL	B	1.22%	0.91%	0.91%
PEN	D	-0.32%	0.54%	-0.32%
REGN	C	-0.32%	0.1%	-0.32%
TMDX	C	-0.2%	0.46%	-0.2%
TSLA	C	0.59%	0.01%	0.01%
VRT	C	0.59%	1.2%	0.59%
ZI	D	-0.36%	0.68%	-0.36%

CLSE Overweight 292 Positions Relative to FFLG

Symbol	Grade	Weight
QCOM	F	2.58%
WMT	B	2.07%
APP	B	2.04%
IBM	A	1.7%
CVLT	B	1.64%
NTAP	D	1.64%
GDDY	C	1.58%
HPE	D	1.52%
DOCU	C	1.21%
HD	A	1.17%
ACIW	B	1.12%
ABBV	C	1.04%
T	C	1.03%
HALO	C	1.03%
MU	F	1.02%
GILD	B	0.98%
AMG	C	0.98%
PYPL	B	0.98%
JNJ	C	0.96%
SNEX	B	0.95%
OGN	D	0.92%
JHG	B	0.92%
NTRS	B	0.91%
AVT	C	0.88%
UHS	B	0.87%
SYF	C	0.86%
THC	B	0.85%
AMRX	B	0.85%
NTNX	C	0.84%
DVA	B	0.82%
EME	A	0.81%
SEIC	C	0.81%
PG	C	0.81%
MO	C	0.81%
BAC	D	0.81%
VLO	F	0.79%
JPM	D	0.77%
MLI	B	0.75%
FTDR	B	0.75%
MPC	D	0.74%
BG	D	0.72%
PPC	D	0.72%
JXN	B	0.72%
MCK	F	0.71%
UMBF	B	0.71%
IDCC	B	0.7%
RF	B	0.69%
CHRW	A	0.66%
IIPR	B	0.65%
IESC	C	0.63%
OSCR	C	0.63%
GVA	B	0.63%
NEM	B	0.62%
FITB	B	0.61%
CAH	C	0.61%
STRL	B	0.6%
MUSA	D	0.59%
XOM	D	0.58%
CFG	C	0.57%
TSN	D	0.57%
UNP	C	0.57%
PATK	A	0.55%
WFC	D	0.55%
AMGN	B	0.55%
PNW	B	0.55%
PGR	A	0.55%
NEE	C	0.55%
MTZ	B	0.54%
LMT	B	0.54%
GM	B	0.54%
PRIM	B	0.54%
AVA	C	0.54%
MET	A	0.54%
NRG	A	0.54%
SLVM	A	0.53%
MWA	B	0.53%
HRB	C	0.53%
EXPE	C	0.53%
RGA	B	0.53%
VST	A	0.53%
MRK	D	0.53%
RTX	C	0.51%
CVX	D	0.51%
FDX	F	0.5%
BMY	C	0.49%
ADMA	B	0.49%
CNA	D	0.49%
NSA	B	0.48%
KLAC	D	0.47%
LNTH	D	0.46%
EEFT	D	0.45%
EQR	C	0.44%
RGLD	B	0.43%
REZI	D	0.43%
ACT	B	0.42%
SPG	A	0.41%
LAMR	A	0.41%
KMB	D	0.4%
SAIC	C	0.4%
MRO	C	0.39%
SCCO	D	0.39%
LDOS	B	0.38%
FCX	D	0.38%
J	C	0.36%
CTRE	C	0.36%
BCO	A	0.36%
DVN	D	0.35%
GRMN	D	0.35%
KNF	B	0.35%
ABM	D	0.34%
TOL	B	0.34%
CAT	B	0.33%
STAG	D	0.33%
GLW	B	0.32%
JLL	B	0.32%
ALSN	B	0.32%
ANF	D	0.32%
SM	D	0.31%
VTRS	D	0.31%
EXP	B	0.31%
NVR	B	0.3%
IBP	D	0.27%
CPNG	A	0.26%
BKNG	B	0.25%
CCL	C	0.24%
KR	C	0.17%
ADUS	C	0.15%
SPOT	B	0.13%
NTRA	B	0.12%
MHO	B	0.1%
QQQ	C	0.0%
JOBY	F	-0.04%
CAR	F	-0.05%
CRNX	C	-0.05%
COLD	D	-0.08%
ROK	F	-0.08%
ALIT	D	-0.08%
FOXF	D	-0.08%
AES	C	-0.08%
NXST	D	-0.09%
VAC	F	-0.1%
DRVN	C	-0.1%
HGV	D	-0.1%
WOR	F	-0.1%
AWR	B	-0.1%
WTW	C	-0.1%
MCW	F	-0.1%
VMC	D	-0.11%
HHH	C	-0.11%
CC	F	-0.11%
DRI	B	-0.11%
TXG	D	-0.11%
VFC	C	-0.12%
VAL	F	-0.12%
AAL	D	-0.12%
PGNY	F	-0.12%
AA	D	-0.12%
CGON	C	-0.12%
BC	C	-0.13%
VSAT	F	-0.14%
PPBI	D	-0.14%
CHK	D	-0.15%
RBLX	B	-0.15%
EXR	B	-0.15%
AESI	C	-0.15%
PYCR	D	-0.15%
CG	D	-0.15%
DAY	D	-0.15%
MTN	D	-0.15%
UHAL	B	-0.16%
PCH	C	-0.16%
WTRG	D	-0.16%
BIRK	F	-0.16%
KRG	C	-0.16%
ILMN	C	-0.16%
WAL	B	-0.16%
UEC	D	-0.17%
VNO	B	-0.17%
GTLS	F	-0.17%
SJM	C	-0.17%
ENOV	F	-0.18%
KNSL	C	-0.18%
XPO	D	-0.18%
HI	F	-0.18%
BANC	B	-0.19%
CZR	C	-0.19%
FCNCA	D	-0.19%
WY	C	-0.19%
CNH	D	-0.19%
LAD	C	-0.19%
COTY	F	-0.2%
COLB	B	-0.2%
CINF	C	-0.2%
EL	F	-0.2%
TFC	D	-0.2%
LKQ	F	-0.2%
AVAV	C	-0.2%
WOLF	F	-0.2%
AJG	D	-0.21%
LUV	C	-0.21%
GPOR	D	-0.21%
SOFI	C	-0.21%
BX	B	-0.21%
RNR	B	-0.22%
SHC	C	-0.22%
IRTC	F	-0.22%
CNX	A	-0.22%
DXCM	F	-0.22%
RBA	C	-0.22%
WBA	F	-0.22%
CIEN	C	-0.22%
AEIS	D	-0.23%
TTD	B	-0.23%
WTM	D	-0.23%
SW	C	-0.23%
IPAR	D	-0.23%
XYL	D	-0.23%
DLTR	F	-0.23%
FDS	C	-0.23%
PTEN	F	-0.24%
SUM	D	-0.24%
BIO	C	-0.24%
OKE	B	-0.24%
AGCO	D	-0.24%
MS	C	-0.25%
VSH	F	-0.25%
WAT	C	-0.25%
ALB	F	-0.26%
AL	D	-0.26%
APD	B	-0.26%
SITE	D	-0.26%
FLYW	F	-0.26%
EQT	D	-0.26%
WSC	D	-0.26%
CSCO	B	-0.27%
VVV	D	-0.27%
GT	F	-0.27%
HASI	C	-0.27%
CELH	F	-0.28%
HSY	D	-0.28%
NEOG	D	-0.29%
GMED	D	-0.29%
LW	D	-0.29%
APLS	F	-0.29%
FIVN	F	-0.3%
MNST	D	-0.31%
O	C	-0.31%
INSP	C	-0.31%
RVMD	C	-0.32%
ENPH	D	-0.32%
FOUR	C	-0.33%
SRE	B	-0.33%
EVTC	F	-0.33%
RGEN	F	-0.33%
EXAS	C	-0.34%
IAC	C	-0.34%
TOST	A	-0.34%
D	B	-0.34%
MARA	F	-0.35%
GE	A	-0.36%
LVS	D	-0.36%
KLIC	F	-0.36%
LYV	B	-0.36%
AFRM	C	-0.36%
NDAQ	A	-0.36%
WBD	D	-0.38%
RIOT	F	-0.38%
BBIO	D	-0.38%
PATH	D	-0.39%
SATS	C	-0.4%
BRZE	F	-0.4%
MKTX	C	-0.4%
RIVN	F	-0.41%
CCOI	C	-0.43%
CGNX	D	-0.43%
FIVE	D	-0.45%
TTWO	D	-0.47%
ZBRA	B	-0.48%
C	D	-0.48%
GLOB	D	-0.48%
LSCC	D	-0.5%
MCHP	D	-0.5%
CFLT	F	-0.5%
BILL	D	-0.5%
POOL	D	-0.54%
SMCI	F	-0.55%
RH	B	-0.56%
WDC	D	-0.58%
LBRDK	F	-0.58%
U	D	-0.6%
TXN	C	-0.85%
INTC	F	-0.93%

CLSE Underweight 66 Positions Relative to FFLG

Symbol	Grade	Weight
UBER	C	-3.45%
TMUS	C	-2.86%
ROKU	C	-2.65%
UNH	C	-2.14%
AMD	D	-1.93%
BSX	B	-1.88%
SQ	D	-1.85%
FLEX	C	-1.84%
NXPI	D	-1.81%
SE	A	-1.73%
V	C	-1.57%
GPN	D	-1.32%
LLY	C	-1.25%
HUM	F	-0.89%
MQ	F	-0.87%
SNAP	F	-0.87%
EPAM	F	-0.86%
NOW	A	-0.84%
MRVL	C	-0.8%
CRM	D	-0.77%
DT	C	-0.67%
PCG	B	-0.64%
DDOG	D	-0.64%
TSM	C	-0.64%
MA	B	-0.59%
INTU	C	-0.58%
HUBS	D	-0.55%
CYTK	F	-0.55%
DLO	D	-0.51%
CEG	A	-0.49%
JBL	D	-0.47%
TMO	C	-0.42%
BJ	D	-0.4%
PCVX	C	-0.4%
LOW	A	-0.4%
DHR	C	-0.38%
AMT	C	-0.38%
INTA	B	-0.36%
AR	D	-0.34%
LYFT	D	-0.29%
MGNI	D	-0.29%
AMAT	D	-0.26%
ARGX	C	-0.22%
OVV	F	-0.22%
PANW	C	-0.19%
LULU	D	-0.17%
ETN	C	-0.17%
COHR	B	-0.16%
PSTG	F	-0.15%
KO	B	-0.14%
APO	B	-0.12%
NUVL	C	-0.11%
ACN	C	-0.1%
NVO	D	-0.1%
CHTR	D	-0.09%
ZNTL	D	-0.08%
KROS	C	-0.07%
ALXO	F	-0.06%
SNOW	F	-0.06%
W	D	-0.05%
FSLR	C	-0.05%
VLTO	B	-0.04%
ARM	C	-0.03%
LEN	C	-0.02%
ASND	C	-0.0%
ALHC	C	-0.0%