FBUF vs. GSLC ETF Comparison

Comparison of Fidelity Dynamic Buffered Equity ETF (FBUF) to Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC)

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

GSLC

Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF

GSLC Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the Goldman Sachs ActiveBeta® U.S. Large Cap Equity Index. The fund invests at least 80% of its assets (exclusive of collateral held from securities lending) in securities included in its underlying index. The index is designed to deliver exposure to equity securities of large-capitalization U.S. issuers. The index is constructed using the patented ActiveBeta® Portfolio Construction Methodology.

Grade (RS Rating)

Last Trade

$118.17

Average Daily Volume

217,813

Number of Holdings ^*

438

* may have additional holdings in another (foreign) market

Performance

Period	FBUF	GSLC
30 Days	3.10%	3.97%
60 Days	4.70%	5.37%
90 Days	6.08%	7.11%
12 Months		33.60%

121 Overlapping Holdings

Symbol	Grade	Weight in FBUF	Weight in GSLC	Overlap
AAPL	C	7.34%	6.24%	6.24%
ABBV	D	0.91%	0.48%	0.48%
ABT	B	0.63%	0.22%	0.22%
ADBE	C	0.94%	0.47%	0.47%
ADP	B	0.26%	0.12%	0.12%
AMAT	F	0.67%	0.32%	0.32%
AME	A	0.09%	0.1%	0.09%
AMGN	D	0.25%	0.17%	0.17%
AMT	D	0.21%	0.02%	0.02%
AMZN	C	3.84%	3.38%	3.38%
ANET	C	0.06%	0.17%	0.06%
AON	A	0.12%	0.12%	0.12%
AVGO	D	1.62%	1.14%	1.14%
AXP	A	0.43%	0.3%	0.3%
BAC	A	1.18%	0.41%	0.41%
BDX	F	0.58%	0.07%	0.07%
BIIB	F	0.21%	0.12%	0.12%
BK	A	0.12%	0.38%	0.12%
BMY	B	0.74%	0.21%	0.21%
BRK.A	B	2.2%	1.15%	1.15%
C	A	0.72%	0.28%	0.28%
CAH	B	0.31%	0.12%	0.12%
CAT	B	0.53%	0.23%	0.23%
CI	F	0.63%	0.26%	0.26%
CINF	A	0.07%	0.14%	0.07%
CL	D	0.55%	0.4%	0.4%
CLX	B	0.14%	0.18%	0.14%
CMCSA	B	0.84%	0.29%	0.29%
CME	A	0.44%	0.11%	0.11%
CMG	B	0.47%	0.07%	0.07%
COST	B	0.3%	0.84%	0.3%
CRM	B	1.16%	0.48%	0.48%
CSCO	B	0.8%	0.32%	0.32%
CSX	B	0.49%	0.06%	0.06%
CTAS	B	0.65%	0.37%	0.37%
CVNA	B	0.52%	0.06%	0.06%
CVS	D	0.23%	0.18%	0.18%
CVX	A	0.02%	0.2%	0.02%
DASH	A	0.11%	0.07%	0.07%
DIS	B	0.65%	0.19%	0.19%
DVN	F	0.52%	0.05%	0.05%
ECL	D	0.63%	0.09%	0.09%
ED	D	0.1%	0.06%	0.06%
EOG	A	0.48%	0.08%	0.08%
F	C	0.33%	0.17%	0.17%
FTNT	C	0.2%	0.24%	0.2%
GE	D	0.48%	0.29%	0.29%
GEN	B	0.13%	0.12%	0.12%
GILD	C	0.74%	0.17%	0.17%
GOOGL	C	2.04%	1.88%	1.88%
GRMN	B	0.44%	0.05%	0.05%
HD	A	1.32%	0.81%	0.81%
HWM	A	0.38%	0.12%	0.12%
IDXX	F	0.15%	0.29%	0.15%
INTU	C	0.12%	0.26%	0.12%
ITW	B	0.14%	0.22%	0.14%
JNJ	D	0.73%	0.62%	0.62%
JPM	A	1.93%	1.16%	1.16%
KLAC	D	0.61%	0.16%	0.16%
KR	B	0.12%	0.38%	0.12%
LDOS	C	0.31%	0.22%	0.22%
LHX	C	0.21%	0.08%	0.08%
LLY	F	0.76%	1.15%	0.76%
LMT	D	0.71%	0.13%	0.13%
LPLA	A	0.11%	0.12%	0.11%
LRCX	F	0.24%	0.24%	0.24%
MA	C	1.36%	0.86%	0.86%
META	D	2.89%	2.5%	2.5%
MMC	B	0.53%	0.29%	0.29%
MMM	D	0.19%	0.09%	0.09%
MRK	F	0.96%	0.39%	0.39%
MSFT	F	5.66%	5.64%	5.64%
MSI	B	0.43%	0.33%	0.33%
MU	D	0.5%	0.07%	0.07%
NEE	D	0.82%	0.09%	0.09%
NFLX	A	1.28%	0.4%	0.4%
NOC	D	0.6%	0.04%	0.04%
NOW	A	0.5%	0.32%	0.32%
NRG	B	0.09%	0.21%	0.09%
NUE	C	0.36%	0.15%	0.15%
NVDA	C	7.37%	6.37%	6.37%
ORCL	B	0.04%	0.28%	0.04%
OXY	D	0.15%	0.05%	0.05%
PCAR	B	0.37%	0.07%	0.07%
PEP	F	0.19%	0.35%	0.19%
PFE	D	0.41%	0.02%	0.02%
PG	A	0.8%	0.6%	0.6%
PGR	A	0.67%	0.21%	0.21%
PM	B	0.94%	0.31%	0.31%
PPG	F	0.34%	0.12%	0.12%
PSA	D	0.17%	0.05%	0.05%
PYPL	B	0.72%	0.1%	0.1%
QCOM	F	0.85%	0.35%	0.35%
RSG	A	0.23%	0.22%	0.22%
RTX	C	0.28%	0.2%	0.2%
SCHW	B	0.79%	0.03%	0.03%
SPG	B	0.44%	0.09%	0.09%
SPGI	C	0.21%	0.16%	0.16%
SSNC	B	0.18%	0.25%	0.18%
SYK	C	0.24%	0.16%	0.16%
T	A	0.71%	0.34%	0.34%
TJX	A	0.72%	0.39%	0.39%
TMO	F	0.38%	0.22%	0.22%
TMUS	B	0.28%	0.27%	0.27%
TOL	B	0.02%	0.07%	0.02%
TROW	B	0.28%	0.12%	0.12%
TRV	B	0.26%	0.15%	0.15%
TSLA	B	1.27%	0.84%	0.84%
TT	A	0.68%	0.16%	0.16%
TXT	D	0.5%	0.17%	0.17%
UBER	D	0.24%	0.14%	0.14%
UNH	C	0.57%	0.82%	0.57%
UNP	C	0.75%	0.04%	0.04%
V	A	0.65%	0.83%	0.65%
VST	B	0.14%	0.29%	0.14%
WFC	A	0.28%	0.33%	0.28%
WM	A	0.41%	0.14%	0.14%
WMT	A	0.82%	0.93%	0.82%
XOM	B	1.56%	0.73%	0.73%
ZBRA	B	0.52%	0.02%	0.02%
ZM	B	0.53%	0.18%	0.18%

FBUF Overweight 34 Positions Relative to GSLC

Symbol	Grade	Weight
GOOG	C	1.89%
SQ	B	0.6%
SEIC	B	0.54%
DBX	B	0.52%
IGT	F	0.46%
EXEL	B	0.43%
ALLE	D	0.38%
ANF	C	0.35%
TDC	D	0.35%
ALRM	C	0.34%
INCY	C	0.34%
SKYW	B	0.31%
MEDP	D	0.28%
MSCI	C	0.26%
MGM	D	0.23%
GAP	C	0.21%
TPH	D	0.18%
CACI	D	0.17%
LNW	D	0.16%
BBWI	D	0.16%
GL	B	0.13%
NSC	B	0.11%
UNM	A	0.1%
TWLO	A	0.09%
DOCU	A	0.09%
LYFT	C	0.08%
PLTK	B	0.07%
CRUS	D	0.07%
QRVO	F	0.06%
NBIX	C	0.06%
VEEV	C	0.04%
TNL	A	0.04%
UTHR	C	0.04%
PEGA	A	0.02%

FBUF Underweight 317 Positions Relative to GSLC

Symbol	Grade	Weight
BKNG	A	-0.5%
FICO	B	-0.49%
ACN	C	-0.45%
GWW	B	-0.44%
BLDR	D	-0.43%
SYF	B	-0.41%
LOW	D	-0.41%
AMP	A	-0.4%
IBM	C	-0.38%
VRSN	F	-0.37%
COF	B	-0.36%
FAST	B	-0.36%
VTRS	A	-0.33%
KO	D	-0.33%
MCO	B	-0.33%
TEAM	A	-0.3%
APO	B	-0.3%
HPE	B	-0.28%
YUM	B	-0.28%
LEN	D	-0.28%
ORLY	B	-0.28%
MANH	D	-0.28%
DFS	B	-0.27%
FI	A	-0.27%
NTNX	A	-0.27%
PHM	D	-0.26%
KMI	A	-0.26%
DECK	A	-0.26%
MTD	D	-0.25%
MS	A	-0.25%
ROP	B	-0.25%
VZ	C	-0.25%
ULTA	F	-0.25%
STT	A	-0.25%
SYY	B	-0.24%
EA	A	-0.24%
WAB	B	-0.24%
TGT	F	-0.24%
BSX	B	-0.24%
HUBS	A	-0.24%
AMD	F	-0.23%
CDNS	B	-0.23%
TXN	C	-0.23%
PINS	D	-0.23%
LIN	D	-0.23%
WMB	A	-0.23%
HIG	B	-0.23%
COR	B	-0.23%
WBD	C	-0.23%
ICE	C	-0.22%
AZO	C	-0.22%
GDDY	A	-0.22%
APH	A	-0.22%
L	A	-0.21%
IT	C	-0.21%
DPZ	C	-0.21%
BBY	D	-0.21%
CB	C	-0.21%
SHW	A	-0.21%
ISRG	A	-0.2%
ADSK	A	-0.2%
MCK	B	-0.19%
ADM	D	-0.19%
HLT	A	-0.19%
PSTG	D	-0.19%
MPC	D	-0.19%
CCL	B	-0.19%
NKE	D	-0.19%
VRTX	F	-0.19%
MAS	D	-0.19%
NTRS	A	-0.19%
LII	A	-0.19%
OKE	A	-0.18%
TSCO	D	-0.18%
PANW	C	-0.18%
VLO	C	-0.18%
CTSH	B	-0.18%
MO	A	-0.18%
BG	F	-0.18%
REGN	F	-0.18%
EXPE	B	-0.18%
MCD	D	-0.17%
OTIS	C	-0.17%
DGX	A	-0.17%
BLK	C	-0.17%
HOLX	D	-0.17%
BRO	B	-0.17%
PTC	A	-0.17%
WSM	B	-0.17%
APP	B	-0.17%
RS	B	-0.16%
MSTR	C	-0.16%
BR	A	-0.16%
GGG	B	-0.16%
PRU	A	-0.16%
OMC	C	-0.16%
PFG	D	-0.16%
SWKS	F	-0.16%
AIG	B	-0.16%
EME	C	-0.16%
CAG	D	-0.16%
SNPS	B	-0.15%
ACGL	D	-0.15%
KMB	D	-0.15%
AVY	D	-0.15%
KKR	A	-0.15%
RPM	A	-0.15%
AJG	B	-0.15%
IEX	B	-0.15%
DHR	F	-0.15%
HON	B	-0.15%
DHI	D	-0.14%
NTAP	C	-0.14%
GD	F	-0.14%
ETN	A	-0.14%
OC	A	-0.14%
DAL	C	-0.14%
JKHY	D	-0.14%
PH	A	-0.14%
IRM	D	-0.13%
CHTR	C	-0.13%
ATO	A	-0.13%
TRGP	B	-0.13%
CHD	B	-0.13%
RJF	A	-0.13%
TDY	B	-0.13%
JBL	B	-0.13%
VRT	B	-0.13%
LYB	F	-0.13%
RCL	A	-0.13%
VLTO	D	-0.13%
ROL	B	-0.13%
CF	B	-0.12%
FDS	B	-0.12%
AKAM	D	-0.12%
HCA	F	-0.12%
NDSN	B	-0.12%
PKG	A	-0.12%
AFL	B	-0.12%
TDG	D	-0.12%
LH	C	-0.11%
SWK	D	-0.11%
CEG	D	-0.11%
NVR	D	-0.11%
CBOE	B	-0.11%
ALL	A	-0.11%
EL	F	-0.11%
DOV	A	-0.11%
IR	B	-0.11%
ZBH	C	-0.11%
MKL	A	-0.11%
PODD	C	-0.11%
PEG	A	-0.11%
ZTS	D	-0.11%
CNC	D	-0.1%
FDX	B	-0.1%
AVB	B	-0.1%
FTV	C	-0.1%
FCNCA	A	-0.1%
WPC	D	-0.1%
MAR	B	-0.1%
PPL	B	-0.1%
SNA	A	-0.1%
CSL	C	-0.1%
EXPD	D	-0.1%
VICI	C	-0.1%
NI	A	-0.1%
COP	C	-0.1%
EBAY	D	-0.1%
EG	C	-0.1%
CDW	F	-0.1%
PSX	C	-0.1%
DUK	C	-0.1%
DG	F	-0.1%
GEV	B	-0.09%
MDT	D	-0.09%
STZ	D	-0.09%
KHC	F	-0.09%
NDAQ	A	-0.09%
MET	A	-0.09%
ELV	F	-0.09%
MNST	C	-0.09%
DRI	B	-0.09%
WELL	A	-0.09%
XYL	D	-0.09%
DLTR	F	-0.09%
IQV	D	-0.09%
CMI	A	-0.09%
LNT	A	-0.09%
CRWD	B	-0.09%
VRSK	A	-0.09%
MRO	B	-0.09%
CFG	B	-0.09%
AXON	A	-0.09%
BX	A	-0.09%
PWR	A	-0.09%
IP	B	-0.09%
PNC	B	-0.09%
MDLZ	F	-0.09%
ADI	D	-0.08%
SUI	D	-0.08%
HUBB	B	-0.08%
MAA	B	-0.08%
CMS	C	-0.08%
GPN	B	-0.08%
ARES	A	-0.08%
CPAY	A	-0.08%
ALNY	D	-0.08%
HPQ	B	-0.08%
TRMB	B	-0.08%
GLW	B	-0.08%
SO	D	-0.08%
STE	F	-0.08%
DELL	C	-0.08%
KEYS	A	-0.08%
KDP	D	-0.08%
WAT	B	-0.08%
CE	F	-0.08%
ON	D	-0.08%
EQR	B	-0.08%
WTW	B	-0.08%
WRB	A	-0.07%
GIS	D	-0.07%
ETR	B	-0.07%
ALGN	D	-0.07%
ARE	D	-0.07%
TER	D	-0.07%
J	F	-0.07%
WSO	A	-0.07%
PAYX	C	-0.07%
MCHP	D	-0.07%
DOW	F	-0.07%
AVTR	F	-0.07%
MTB	A	-0.07%
ROST	C	-0.07%
EW	C	-0.07%
FE	C	-0.07%
INVH	D	-0.07%
EVRG	A	-0.07%
CARR	D	-0.06%
COIN	C	-0.06%
CBRE	B	-0.06%
HAL	C	-0.06%
JCI	C	-0.06%
K	A	-0.06%
ILMN	D	-0.06%
TSN	B	-0.06%
FIS	C	-0.06%
CPRT	A	-0.06%
DE	A	-0.06%
USB	A	-0.06%
INTC	D	-0.06%
ESS	B	-0.06%
LNG	B	-0.05%
WEC	A	-0.05%
WDAY	B	-0.05%
HSY	F	-0.05%
HBAN	A	-0.05%
A	D	-0.05%
TRU	D	-0.05%
STX	D	-0.05%
STLD	B	-0.05%
SRE	A	-0.05%
IBKR	A	-0.05%
O	D	-0.05%
FITB	A	-0.05%
RF	A	-0.05%
BURL	A	-0.05%
DLR	B	-0.04%
AEP	D	-0.04%
VTR	C	-0.04%
TYL	B	-0.04%
CTRA	B	-0.04%
WY	D	-0.04%
FNF	B	-0.04%
EXC	C	-0.04%
WDC	D	-0.04%
VMC	B	-0.04%
GPC	D	-0.04%
GWRE	A	-0.04%
DTE	C	-0.04%
POOL	C	-0.04%
CNP	B	-0.04%
TTWO	A	-0.04%
BAH	F	-0.04%
EIX	B	-0.04%
D	C	-0.03%
SLB	C	-0.03%
EXR	D	-0.03%
CTVA	C	-0.03%
RVTY	F	-0.03%
EFX	F	-0.03%
MPWR	F	-0.03%
GM	B	-0.03%
MLM	B	-0.03%
IFF	D	-0.03%
PLTR	B	-0.03%
URI	B	-0.03%
ANSS	B	-0.03%
LYV	A	-0.03%
LVS	C	-0.02%
EQIX	A	-0.02%
TW	A	-0.02%
KVUE	A	-0.02%
AEE	A	-0.02%
KIM	A	-0.02%
HUM	C	-0.02%
ODFL	B	-0.02%
DXCM	D	-0.02%
TFC	A	-0.02%
GEHC	F	-0.02%
RMD	C	-0.02%
FANG	D	-0.02%
KEY	B	-0.02%
PNR	A	-0.02%
PCG	A	-0.02%
SMCI	F	-0.01%