FBUF vs. IWY ETF Comparison

Comparison of Fidelity Dynamic Buffered Equity ETF (FBUF) to iShares Russell Top 200 Growth ETF (IWY)

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

IWY

iShares Russell Top 200 Growth ETF

IWY Description

The investment seeks to track the investment results of an index composed of large-capitalization U.S. equities that exhibit growth characteristics. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. It seeks to track the investment results of the Russell Top 200 Growth Index (the "underlying index"), which is a style factor weighted index that measures the performance of the largest capitalization growth sector of the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$228.53

Average Daily Volume

255,415

Number of Holdings ^*

104

* may have additional holdings in another (foreign) market

Performance

Period	FBUF	IWY
30 Days	3.10%	3.21%
60 Days	4.70%	4.64%
90 Days	6.08%	6.06%
12 Months		35.63%

57 Overlapping Holdings

Symbol	Grade	Weight in FBUF	Weight in IWY	Overlap
AAPL	C	7.34%	12.86%	7.34%
ABBV	D	0.91%	0.5%	0.5%
ADBE	C	0.94%	0.88%	0.88%
ADP	B	0.26%	0.45%	0.26%
AMAT	F	0.67%	0.51%	0.51%
AMGN	D	0.25%	0.47%	0.25%
AMT	D	0.21%	0.36%	0.21%
AMZN	C	3.84%	7.41%	3.84%
ANET	C	0.06%	0.38%	0.06%
AVGO	D	1.62%	2.95%	1.62%
AXP	A	0.43%	0.24%	0.24%
CAT	B	0.53%	0.1%	0.1%
CI	F	0.63%	0.03%	0.03%
CL	D	0.55%	0.16%	0.16%
CMG	B	0.47%	0.31%	0.31%
COST	B	0.3%	1.58%	0.3%
CRM	B	1.16%	1.02%	1.02%
CTAS	B	0.65%	0.28%	0.28%
DASH	A	0.11%	0.2%	0.11%
ECL	D	0.63%	0.21%	0.21%
FTNT	C	0.2%	0.19%	0.19%
GE	D	0.48%	0.16%	0.16%
GOOG	C	1.89%	3.37%	1.89%
GOOGL	C	2.04%	3.99%	2.04%
HD	A	1.32%	1.27%	1.27%
INTU	C	0.12%	0.74%	0.12%
ITW	B	0.14%	0.12%	0.12%
KLAC	D	0.61%	0.33%	0.33%
LLY	F	0.76%	2.35%	0.76%
LMT	D	0.71%	0.14%	0.14%
LRCX	F	0.24%	0.36%	0.24%
MA	C	1.36%	1.7%	1.36%
META	D	2.89%	4.78%	2.89%
MMC	B	0.53%	0.06%	0.06%
MMM	D	0.19%	0.05%	0.05%
MRK	F	0.96%	0.96%	0.96%
MSFT	F	5.66%	12.14%	5.66%
MSI	B	0.43%	0.15%	0.15%
NFLX	A	1.28%	1.39%	1.28%
NOW	A	0.5%	0.82%	0.5%
NVDA	C	7.37%	13.07%	7.37%
ORCL	B	0.04%	1.13%	0.04%
PEP	F	0.19%	0.68%	0.19%
PG	A	0.8%	0.35%	0.35%
PGR	A	0.67%	0.5%	0.5%
PSA	D	0.17%	0.03%	0.03%
QCOM	F	0.85%	0.66%	0.66%
SCHW	B	0.79%	0.05%	0.05%
SYK	C	0.24%	0.16%	0.16%
TJX	A	0.72%	0.32%	0.32%
TSLA	B	1.27%	3.51%	1.27%
TT	A	0.68%	0.12%	0.12%
UBER	D	0.24%	0.58%	0.24%
UNH	C	0.57%	0.15%	0.15%
UNP	C	0.75%	0.27%	0.27%
V	A	0.65%	1.92%	0.65%
WM	A	0.41%	0.34%	0.34%

FBUF Overweight 98 Positions Relative to IWY

Symbol	Grade	Weight
BRK.A	B	2.2%
JPM	A	1.93%
XOM	B	1.56%
BAC	A	1.18%
PM	B	0.94%
CMCSA	B	0.84%
WMT	A	0.82%
NEE	D	0.82%
CSCO	B	0.8%
BMY	B	0.74%
GILD	C	0.74%
JNJ	D	0.73%
PYPL	B	0.72%
C	A	0.72%
T	A	0.71%
DIS	B	0.65%
ABT	B	0.63%
SQ	B	0.6%
NOC	D	0.6%
BDX	F	0.58%
SEIC	B	0.54%
ZM	B	0.53%
DBX	B	0.52%
ZBRA	B	0.52%
CVNA	B	0.52%
DVN	F	0.52%
MU	D	0.5%
TXT	D	0.5%
CSX	B	0.49%
EOG	A	0.48%
IGT	F	0.46%
CME	A	0.44%
SPG	B	0.44%
GRMN	B	0.44%
EXEL	B	0.43%
PFE	D	0.41%
TMO	F	0.38%
HWM	A	0.38%
ALLE	D	0.38%
PCAR	B	0.37%
NUE	C	0.36%
ANF	C	0.35%
TDC	D	0.35%
ALRM	C	0.34%
PPG	F	0.34%
INCY	C	0.34%
F	C	0.33%
LDOS	C	0.31%
SKYW	B	0.31%
CAH	B	0.31%
RTX	C	0.28%
TMUS	B	0.28%
MEDP	D	0.28%
TROW	B	0.28%
WFC	A	0.28%
TRV	B	0.26%
MSCI	C	0.26%
CVS	D	0.23%
RSG	A	0.23%
MGM	D	0.23%
LHX	C	0.21%
SPGI	C	0.21%
GAP	C	0.21%
BIIB	F	0.21%
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%
CLX	B	0.14%
GL	B	0.13%
GEN	B	0.13%
KR	B	0.12%
BK	A	0.12%
AON	A	0.12%
NSC	B	0.11%
LPLA	A	0.11%
UNM	A	0.1%
ED	D	0.1%
AME	A	0.09%
TWLO	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%
VEEV	C	0.04%
TNL	A	0.04%
UTHR	C	0.04%
TOL	B	0.02%
CVX	A	0.02%
PEGA	A	0.02%

FBUF Underweight 47 Positions Relative to IWY

Symbol	Grade	Weight
ISRG	A	-0.73%
BKNG	A	-0.63%
AMD	F	-0.56%
KO	D	-0.54%
BX	A	-0.5%
PANW	C	-0.47%
SBUX	A	-0.34%
SHW	A	-0.32%
CDNS	B	-0.31%
SNPS	B	-0.31%
CRWD	B	-0.3%
MCO	B	-0.29%
ZTS	D	-0.26%
APO	B	-0.25%
ADSK	A	-0.25%
ORLY	B	-0.25%
VRTX	F	-0.24%
ABNB	C	-0.23%
WDAY	B	-0.22%
NKE	D	-0.22%
GS	A	-0.2%
APH	A	-0.19%
AZO	C	-0.19%
CPRT	A	-0.18%
SNOW	C	-0.16%
TEAM	A	-0.15%
FI	A	-0.15%
LULU	C	-0.15%
MCK	B	-0.13%
MNST	C	-0.12%
KKR	A	-0.11%
TXN	C	-0.09%
HON	B	-0.09%
KMB	D	-0.07%
ELV	F	-0.06%
BA	F	-0.06%
HCA	F	-0.06%
MCD	D	-0.05%
TDG	D	-0.05%
MS	A	-0.04%
CEG	D	-0.04%
REGN	F	-0.03%
EW	C	-0.03%
EQIX	A	-0.02%
EL	F	-0.02%
DELL	C	-0.02%
MRVL	B	-0.02%