FBUF vs. EVUS ETF Comparison

Comparison of Fidelity Dynamic Buffered Equity ETF (FBUF) to iShares ESG Aware MSCI USA Value ETF (EVUS)

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

EVUS

iShares ESG Aware MSCI USA Value ETF

EVUS Description

EVUS tracks an index of large- and mid-cap US value stocks perceived to have positive ESG characteristics. The parent index, MSCI USA Value Index, identifies value stocks through book value-to-price ratio, 12-month forward earnings-to-price ratio, and dividend yield. Securities are then screened to exclude companies involved in controversial businesses and issues (e.g., weapons, tobacco, climate change issues). All selected securities are assigned an ESG score that evaluates a companys exposure to key ESG issues based on the companys business segment and geographic risk, as well as their strategies and programs to manage these risks and opportunities. Using a sector-specific weighting model, companies are rated and ranked against industry peers. The quantitative process leans toward higher-rated stocks while also considering market-cap and constraints based on the parent index. The fund may engage in securities lending. The index is reviewed and rebalanced quarterly.

Grade (RS Rating)

Last Trade

$30.74

Average Daily Volume

1,444

Number of Holdings ^*

234

* may have additional holdings in another (foreign) market

Performance

Period	FBUF	EVUS
30 Days	3.10%	2.65%
60 Days	4.70%	3.47%
90 Days	6.08%	6.09%
12 Months		29.50%

60 Overlapping Holdings

Symbol	Grade	Weight in FBUF	Weight in EVUS	Overlap
ABBV	D	0.91%	0.92%	0.91%
ABT	B	0.63%	0.24%	0.24%
ADP	B	0.26%	1.24%	0.26%
ALLE	D	0.38%	0.15%	0.15%
AMGN	D	0.25%	0.74%	0.25%
AMT	D	0.21%	0.59%	0.21%
AVGO	D	1.62%	2.9%	1.62%
AXP	A	0.43%	0.9%	0.43%
BAC	A	1.18%	1.33%	1.18%
BIIB	F	0.21%	0.1%	0.1%
BK	A	0.12%	0.74%	0.12%
BMY	B	0.74%	0.42%	0.42%
BRK.A	B	2.2%	1.19%	1.19%
C	A	0.72%	0.69%	0.69%
CAH	B	0.31%	0.31%	0.31%
CAT	B	0.53%	0.75%	0.53%
CI	F	0.63%	0.58%	0.58%
CLX	B	0.14%	0.43%	0.14%
CMCSA	B	0.84%	0.4%	0.4%
CSCO	B	0.8%	1.01%	0.8%
CVS	D	0.23%	0.09%	0.09%
CVX	A	0.02%	1.26%	0.02%
DIS	B	0.65%	0.88%	0.65%
ECL	D	0.63%	0.64%	0.63%
ED	D	0.1%	0.25%	0.1%
GEN	B	0.13%	0.11%	0.11%
GILD	C	0.74%	0.96%	0.74%
HD	A	1.32%	2.07%	1.32%
ITW	B	0.14%	0.1%	0.1%
JNJ	D	0.73%	1.43%	0.73%
JPM	A	1.93%	2.81%	1.93%
KR	B	0.12%	0.41%	0.12%
LDOS	C	0.31%	0.11%	0.11%
MMC	B	0.53%	0.24%	0.24%
MMM	D	0.19%	0.6%	0.19%
MRK	F	0.96%	0.52%	0.52%
MU	D	0.5%	0.41%	0.41%
NEE	D	0.82%	0.82%	0.82%
NOC	D	0.6%	0.4%	0.4%
NUE	C	0.36%	0.25%	0.25%
ORCL	B	0.04%	1.31%	0.04%
PEP	F	0.19%	0.84%	0.19%
PFE	D	0.41%	0.55%	0.41%
PG	A	0.8%	1.5%	0.8%
PGR	A	0.67%	0.39%	0.39%
PPG	F	0.34%	0.34%	0.34%
PSA	D	0.17%	0.11%	0.11%
PYPL	B	0.72%	0.24%	0.24%
QCOM	F	0.85%	0.63%	0.63%
RTX	C	0.28%	0.79%	0.28%
SCHW	B	0.79%	0.4%	0.4%
SPGI	C	0.21%	0.65%	0.21%
T	A	0.71%	0.38%	0.38%
TJX	A	0.72%	0.18%	0.18%
TMO	F	0.38%	0.11%	0.11%
TRV	B	0.26%	0.46%	0.26%
TWLO	A	0.09%	0.15%	0.09%
UNH	C	0.57%	2.04%	0.57%
WFC	A	0.28%	0.28%	0.28%
XOM	B	1.56%	1.54%	1.54%

FBUF Overweight 95 Positions Relative to EVUS

Symbol	Grade	Weight
NVDA	C	7.37%
AAPL	C	7.34%
MSFT	F	5.66%
AMZN	C	3.84%
META	D	2.89%
GOOGL	C	2.04%
GOOG	C	1.89%
MA	C	1.36%
NFLX	A	1.28%
TSLA	B	1.27%
CRM	B	1.16%
PM	B	0.94%
ADBE	C	0.94%
WMT	A	0.82%
LLY	F	0.76%
UNP	C	0.75%
LMT	D	0.71%
TT	A	0.68%
AMAT	F	0.67%
V	A	0.65%
CTAS	B	0.65%
KLAC	D	0.61%
SQ	B	0.6%
BDX	F	0.58%
CL	D	0.55%
SEIC	B	0.54%
ZM	B	0.53%
DBX	B	0.52%
ZBRA	B	0.52%
CVNA	B	0.52%
DVN	F	0.52%
NOW	A	0.5%
TXT	D	0.5%
CSX	B	0.49%
GE	D	0.48%
EOG	A	0.48%
CMG	B	0.47%
IGT	F	0.46%
CME	A	0.44%
SPG	B	0.44%
GRMN	B	0.44%
MSI	B	0.43%
EXEL	B	0.43%
WM	A	0.41%
HWM	A	0.38%
PCAR	B	0.37%
ANF	C	0.35%
TDC	D	0.35%
ALRM	C	0.34%
INCY	C	0.34%
F	C	0.33%
SKYW	B	0.31%
COST	B	0.3%
TMUS	B	0.28%
MEDP	D	0.28%
TROW	B	0.28%
MSCI	C	0.26%
UBER	D	0.24%
SYK	C	0.24%
LRCX	F	0.24%
RSG	A	0.23%
MGM	D	0.23%
LHX	C	0.21%
GAP	C	0.21%
FTNT	C	0.2%
TPH	D	0.18%
SSNC	B	0.18%
CACI	D	0.17%
LNW	D	0.16%
BBWI	D	0.16%
OXY	D	0.15%
IDXX	F	0.15%
VST	B	0.14%
GL	B	0.13%
INTU	C	0.12%
AON	A	0.12%
NSC	B	0.11%
DASH	A	0.11%
LPLA	A	0.11%
UNM	A	0.1%
AME	A	0.09%
NRG	B	0.09%
DOCU	A	0.09%
LYFT	C	0.08%
CINF	A	0.07%
PLTK	B	0.07%
CRUS	D	0.07%
QRVO	F	0.06%
NBIX	C	0.06%
ANET	C	0.06%
VEEV	C	0.04%
TNL	A	0.04%
UTHR	C	0.04%
TOL	B	0.02%
PEGA	A	0.02%

FBUF Underweight 174 Positions Relative to EVUS

Symbol	Grade	Weight
KO	D	-1.67%
TXN	C	-1.47%
IBM	C	-1.17%
MS	A	-1.07%
PRU	A	-1.02%
PEG	A	-0.96%
K	A	-0.89%
HON	B	-0.86%
GS	A	-0.84%
COP	C	-0.82%
KMI	A	-0.81%
VZ	C	-0.79%
CMI	A	-0.78%
OKE	A	-0.77%
CRH	A	-0.76%
LOW	D	-0.74%
BR	A	-0.73%
DHR	F	-0.7%
NI	A	-0.67%
ELV	F	-0.65%
PNR	A	-0.63%
MCD	D	-0.63%
PNC	B	-0.62%
EQIX	A	-0.61%
GIS	D	-0.6%
CCI	D	-0.6%
INTC	D	-0.57%
ACN	C	-0.56%
NXPI	D	-0.52%
MET	A	-0.52%
EXPD	D	-0.51%
LIN	D	-0.49%
COR	B	-0.49%
HIG	B	-0.47%
DLR	B	-0.47%
SYF	B	-0.47%
WELL	A	-0.46%
DFS	B	-0.45%
FERG	B	-0.43%
ZTS	D	-0.43%
TGT	F	-0.43%
DE	A	-0.43%
EA	A	-0.41%
XYL	D	-0.41%
CARR	D	-0.4%
CHRW	C	-0.4%
LKQ	D	-0.39%
OVV	B	-0.39%
JCI	C	-0.38%
NDAQ	A	-0.38%
FI	A	-0.38%
CMS	C	-0.38%
SBUX	A	-0.37%
KMB	D	-0.36%
FLUT	A	-0.36%
KEYS	A	-0.35%
CBRE	B	-0.35%
HPE	B	-0.35%
ANSS	B	-0.35%
EXC	C	-0.35%
IRM	D	-0.34%
PSX	C	-0.33%
TAP	C	-0.33%
BG	F	-0.32%
UPS	C	-0.32%
BKR	B	-0.31%
BLK	C	-0.31%
STE	F	-0.3%
DGX	A	-0.3%
HCA	F	-0.3%
COO	D	-0.3%
DAL	C	-0.3%
PLD	D	-0.3%
HBAN	A	-0.29%
CHD	B	-0.29%
ETN	A	-0.29%
NEM	D	-0.28%
D	C	-0.28%
BBY	D	-0.28%
EIX	B	-0.28%
SLB	C	-0.28%
USB	A	-0.28%
FTV	C	-0.27%
ADI	D	-0.27%
URI	B	-0.27%
WY	D	-0.26%
KHC	F	-0.26%
FIS	C	-0.25%
TFC	A	-0.24%
CNH	C	-0.24%
ES	D	-0.23%
ZBH	C	-0.23%
AFL	B	-0.23%
TSCO	D	-0.23%
GEV	B	-0.23%
FBIN	D	-0.23%
FDX	B	-0.23%
VLO	C	-0.23%
REGN	F	-0.22%
LH	C	-0.22%
WTRG	B	-0.21%
J	F	-0.21%
KDP	D	-0.21%
OC	A	-0.21%
TRMB	B	-0.2%
AIZ	A	-0.2%
A	D	-0.19%
FDS	B	-0.19%
COF	B	-0.18%
CNC	D	-0.18%
STT	A	-0.18%
MRO	B	-0.18%
HPQ	B	-0.17%
IEX	B	-0.17%
EQT	B	-0.16%
ACGL	D	-0.16%
DHI	D	-0.16%
NTRS	A	-0.16%
JBHT	C	-0.16%
WMB	A	-0.16%
IP	B	-0.16%
IR	B	-0.15%
TFX	F	-0.15%
HOLX	D	-0.14%
WTW	B	-0.14%
MKC	D	-0.14%
HUBB	B	-0.14%
PHM	D	-0.13%
ROK	B	-0.13%
FOX	A	-0.13%
CB	C	-0.13%
HRL	D	-0.12%
BXP	D	-0.12%
AKAM	D	-0.12%
IFF	D	-0.12%
PFG	D	-0.12%
CPB	D	-0.12%
PAYX	C	-0.12%
HII	D	-0.12%
ADM	D	-0.11%
SOLV	C	-0.11%
CBOE	B	-0.11%
AZPN	A	-0.11%
WDC	D	-0.11%
JNPR	F	-0.11%
MKTX	D	-0.11%
APD	A	-0.11%
STLD	B	-0.11%
FANG	D	-0.11%
CCK	C	-0.1%
DD	D	-0.1%
BALL	D	-0.1%
NTAP	C	-0.1%
HUM	C	-0.1%
DOW	F	-0.1%
RMD	C	-0.1%
FSLR	F	-0.1%
DOV	A	-0.1%
ICE	C	-0.1%
CAG	D	-0.09%
MDLZ	F	-0.09%
TTC	D	-0.09%
AVTR	F	-0.09%
KMX	B	-0.09%
ULTA	F	-0.09%
AVY	D	-0.09%
SYY	B	-0.09%
STZ	D	-0.09%
GEHC	F	-0.09%
LYB	F	-0.08%
NKE	D	-0.08%
IPG	D	-0.08%
DG	F	-0.06%
DLTR	F	-0.06%