FBUF vs. JMOM ETF Comparison

Comparison of Fidelity Dynamic Buffered Equity ETF (FBUF) to JPMorgan U.S. Momentum Factor ETF (JMOM)

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

JMOM

JPMorgan U.S. Momentum Factor ETF

JMOM Description

The investment seeks investment results that closely correspond, before fees and expenses, to the performance of the JP Morgan US Momentum Factor Index. The fund will invest at least 80% of its assets in securities included in the underlying index. Assets means net assets, plus the amount of borrowing for investment purposes. The underlying index is comprised of U.S. equity securities selected to represent positive momentum factor characteristics.

Grade (RS Rating)

Last Trade

$60.97

Average Daily Volume

48,194

Number of Holdings ^*

271

* may have additional holdings in another (foreign) market

Performance

Period	FBUF	JMOM
30 Days	3.10%	5.45%
60 Days	4.70%	7.40%
90 Days	6.08%	9.79%
12 Months		41.42%

66 Overlapping Holdings

Symbol	Grade	Weight in FBUF	Weight in JMOM	Overlap
AAPL	C	7.34%	1.75%	1.75%
ABBV	D	0.91%	1.05%	0.91%
AMAT	F	0.67%	0.66%	0.66%
AMZN	C	3.84%	0.64%	0.64%
ANET	C	0.06%	0.54%	0.06%
AVGO	D	1.62%	2.21%	1.62%
AXP	A	0.43%	0.72%	0.43%
BK	A	0.12%	0.39%	0.12%
BRK.A	B	2.2%	1.78%	1.78%
CACI	D	0.17%	0.24%	0.17%
CAH	B	0.31%	0.28%	0.28%
CAT	B	0.53%	0.81%	0.53%
CL	D	0.55%	0.38%	0.38%
CMG	B	0.47%	0.41%	0.41%
COST	B	0.3%	1.46%	0.3%
CRM	B	1.16%	1.26%	1.16%
CRUS	D	0.07%	0.15%	0.07%
CTAS	B	0.65%	0.44%	0.44%
CVNA	B	0.52%	0.4%	0.4%
DASH	A	0.11%	0.44%	0.11%
ECL	D	0.63%	0.38%	0.38%
ED	D	0.1%	0.21%	0.1%
GAP	C	0.21%	0.18%	0.18%
GE	D	0.48%	0.84%	0.48%
GEN	B	0.13%	0.26%	0.13%
GOOGL	C	2.04%	1.82%	1.82%
HD	A	1.32%	1.39%	1.32%
HWM	A	0.38%	0.37%	0.37%
INTU	C	0.12%	0.79%	0.12%
KLAC	D	0.61%	0.44%	0.44%
KR	B	0.12%	0.26%	0.12%
LDOS	C	0.31%	0.31%	0.31%
LLY	F	0.76%	1.57%	0.76%
LRCX	F	0.24%	0.44%	0.24%
MEDP	D	0.28%	0.18%	0.18%
META	D	2.89%	2.02%	2.02%
MRK	F	0.96%	0.17%	0.17%
MSFT	F	5.66%	1.85%	1.85%
MSI	B	0.43%	0.46%	0.43%
MU	D	0.5%	0.5%	0.5%
NFLX	A	1.28%	0.83%	0.83%
NOW	A	0.5%	0.9%	0.5%
NRG	B	0.09%	0.27%	0.09%
NVDA	C	7.37%	2.48%	2.48%
ORCL	B	0.04%	0.94%	0.04%
PCAR	B	0.37%	0.37%	0.37%
PG	A	0.8%	0.19%	0.19%
PGR	A	0.67%	0.67%	0.67%
PM	B	0.94%	0.79%	0.79%
QCOM	F	0.85%	0.75%	0.75%
RSG	A	0.23%	0.32%	0.23%
SPG	B	0.44%	0.37%	0.37%
SSNC	B	0.18%	0.23%	0.18%
SYK	C	0.24%	0.62%	0.24%
T	A	0.71%	0.22%	0.22%
TJX	A	0.72%	0.6%	0.6%
TMO	F	0.38%	0.79%	0.38%
TMUS	B	0.28%	0.59%	0.28%
TOL	B	0.02%	0.24%	0.02%
TT	A	0.68%	0.51%	0.51%
TXT	D	0.5%	0.18%	0.18%
UBER	D	0.24%	0.57%	0.24%
UNH	C	0.57%	1.34%	0.57%
UNM	A	0.1%	0.17%	0.1%
VST	B	0.14%	0.49%	0.14%
WM	A	0.41%	0.47%	0.41%

FBUF Overweight 89 Positions Relative to JMOM

Symbol	Grade	Weight
JPM	A	1.93%
GOOG	C	1.89%
XOM	B	1.56%
MA	C	1.36%
TSLA	B	1.27%
BAC	A	1.18%
ADBE	C	0.94%
CMCSA	B	0.84%
WMT	A	0.82%
NEE	D	0.82%
CSCO	B	0.8%
SCHW	B	0.79%
UNP	C	0.75%
BMY	B	0.74%
GILD	C	0.74%
JNJ	D	0.73%
PYPL	B	0.72%
C	A	0.72%
LMT	D	0.71%
V	A	0.65%
DIS	B	0.65%
CI	F	0.63%
ABT	B	0.63%
SQ	B	0.6%
NOC	D	0.6%
BDX	F	0.58%
SEIC	B	0.54%
MMC	B	0.53%
ZM	B	0.53%
DBX	B	0.52%
ZBRA	B	0.52%
DVN	F	0.52%
CSX	B	0.49%
EOG	A	0.48%
IGT	F	0.46%
CME	A	0.44%
GRMN	B	0.44%
EXEL	B	0.43%
PFE	D	0.41%
ALLE	D	0.38%
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%
SKYW	B	0.31%
RTX	C	0.28%
TROW	B	0.28%
WFC	A	0.28%
TRV	B	0.26%
ADP	B	0.26%
MSCI	C	0.26%
AMGN	D	0.25%
CVS	D	0.23%
MGM	D	0.23%
AMT	D	0.21%
LHX	C	0.21%
SPGI	C	0.21%
BIIB	F	0.21%
FTNT	C	0.2%
PEP	F	0.19%
MMM	D	0.19%
TPH	D	0.18%
PSA	D	0.17%
LNW	D	0.16%
BBWI	D	0.16%
OXY	D	0.15%
IDXX	F	0.15%
CLX	B	0.14%
ITW	B	0.14%
GL	B	0.13%
AON	A	0.12%
NSC	B	0.11%
LPLA	A	0.11%
AME	A	0.09%
TWLO	A	0.09%
DOCU	A	0.09%
LYFT	C	0.08%
CINF	A	0.07%
PLTK	B	0.07%
QRVO	F	0.06%
NBIX	C	0.06%
VEEV	C	0.04%
TNL	A	0.04%
UTHR	C	0.04%
CVX	A	0.02%
PEGA	A	0.02%

FBUF Underweight 205 Positions Relative to JMOM

Symbol	Grade	Weight
APP	B	-0.82%
IBM	C	-0.8%
ISRG	A	-0.8%
TXN	C	-0.78%
AMD	F	-0.77%
PLTR	B	-0.74%
BKNG	A	-0.72%
ETN	A	-0.69%
MSTR	C	-0.67%
DHR	F	-0.62%
PANW	C	-0.6%
BSX	B	-0.6%
COP	C	-0.59%
VRTX	F	-0.59%
KKR	A	-0.55%
GS	A	-0.54%
CB	C	-0.52%
ADI	D	-0.51%
CRWD	B	-0.5%
PH	A	-0.5%
MRVL	B	-0.48%
APH	A	-0.48%
SPOT	B	-0.47%
MCK	B	-0.47%
WELL	A	-0.45%
WMB	A	-0.44%
RCL	A	-0.44%
COIN	C	-0.44%
VRT	B	-0.44%
AXON	A	-0.43%
GD	F	-0.43%
FICO	B	-0.42%
CEG	D	-0.42%
TDG	D	-0.42%
AMP	A	-0.41%
HLT	A	-0.4%
TTD	B	-0.4%
URI	B	-0.4%
GWW	B	-0.39%
DLR	B	-0.39%
GEV	B	-0.39%
ORLY	B	-0.39%
PWR	A	-0.38%
AFL	B	-0.36%
NU	C	-0.36%
ROP	B	-0.36%
AJG	B	-0.36%
TRGP	B	-0.36%
AZO	C	-0.35%
MPC	D	-0.35%
DELL	C	-0.35%
PSX	C	-0.35%
ALL	A	-0.35%
CBRE	B	-0.34%
CPRT	A	-0.34%
LOW	D	-0.34%
IT	C	-0.33%
COR	B	-0.32%
GLW	B	-0.32%
EME	C	-0.32%
XPO	B	-0.31%
ARES	A	-0.31%
COHR	B	-0.3%
GDDY	A	-0.3%
DECK	A	-0.29%
HUBB	B	-0.29%
IRM	D	-0.29%
CW	B	-0.28%
ACGL	D	-0.28%
PTC	A	-0.28%
FANG	D	-0.28%
ICE	C	-0.28%
BAH	F	-0.27%
TYL	B	-0.27%
HIG	B	-0.27%
BRO	B	-0.27%
JEF	A	-0.27%
ALSN	B	-0.27%
PHM	D	-0.26%
ZS	C	-0.26%
EXP	A	-0.26%
LII	A	-0.26%
DTM	B	-0.26%
VTR	C	-0.26%
NTAP	C	-0.26%
FFIV	B	-0.26%
GWRE	A	-0.26%
NTNX	A	-0.26%
WDC	D	-0.25%
MANH	D	-0.25%
STLD	B	-0.25%
IQV	D	-0.25%
VLO	C	-0.25%
USFD	A	-0.25%
FI	A	-0.25%
BWXT	B	-0.24%
RGA	A	-0.24%
EVR	B	-0.24%
IBKR	A	-0.24%
FTI	A	-0.24%
CBOE	B	-0.23%
PSN	D	-0.23%
HEI	B	-0.23%
THC	D	-0.23%
CHD	B	-0.23%
SAIC	F	-0.22%
MPWR	F	-0.22%
CASY	A	-0.22%
FRPT	B	-0.22%
NVT	B	-0.22%
CNM	D	-0.21%
INGR	B	-0.21%
MOH	F	-0.21%
TPX	B	-0.21%
NI	A	-0.21%
SN	D	-0.2%
HCA	F	-0.2%
HPQ	B	-0.2%
LIN	D	-0.2%
DKS	C	-0.2%
R	B	-0.2%
SCCO	F	-0.2%
JNPR	F	-0.2%
SO	D	-0.19%
PSTG	D	-0.19%
ONTO	D	-0.19%
KD	B	-0.19%
AM	A	-0.19%
IFF	D	-0.19%
UHS	D	-0.19%
WSO	A	-0.19%
TPR	B	-0.19%
HPE	B	-0.18%
POST	C	-0.18%
AN	C	-0.18%
WING	D	-0.18%
DKNG	B	-0.18%
KO	D	-0.17%
WLK	D	-0.16%
H	B	-0.16%
DHI	D	-0.16%
TSCO	D	-0.15%
BLD	D	-0.15%
ROL	B	-0.15%
CRBG	B	-0.15%
AZEK	A	-0.15%
MTSI	B	-0.14%
ARMK	B	-0.14%
LOPE	B	-0.14%
TW	A	-0.14%
JLL	D	-0.13%
SNX	C	-0.13%
BRBR	A	-0.13%
EHC	B	-0.13%
ORI	A	-0.13%
TER	D	-0.12%
PAG	B	-0.12%
OHI	C	-0.12%
RPM	A	-0.12%
AVT	C	-0.12%
SPB	C	-0.11%
LPX	B	-0.11%
SNPS	B	-0.11%
MTG	C	-0.1%
ESS	B	-0.1%
VRSK	A	-0.1%
PPC	C	-0.1%
VKTX	F	-0.1%
FE	C	-0.1%
WFRD	D	-0.1%
HRB	D	-0.1%
VVV	F	-0.09%
LAMR	D	-0.09%
TPG	A	-0.09%
VLTO	D	-0.09%
ROIV	C	-0.09%
HII	D	-0.08%
INFA	D	-0.08%
SMCI	F	-0.08%
PRI	A	-0.08%
COKE	C	-0.08%
APPF	B	-0.08%
AGO	B	-0.07%
WSM	B	-0.07%
RS	B	-0.07%
OLED	D	-0.07%
SRE	A	-0.07%
PEG	A	-0.06%
FYBR	D	-0.06%
AWI	A	-0.06%
AYI	B	-0.06%
PNR	A	-0.06%
NSA	D	-0.05%
BSY	D	-0.05%
FCNCA	A	-0.05%
INVH	D	-0.04%
CXT	B	-0.04%
RYAN	B	-0.04%
SLM	A	-0.03%
BR	A	-0.02%
ESTC	C	-0.02%
TKR	D	-0.01%
STAG	F	-0.01%
MORN	B	-0.0%
EQIX	A	-0.0%