FBUF vs. SPUS ETF Comparison

Comparison of Fidelity Dynamic Buffered Equity ETF (FBUF) to SP Funds S&P 500 Sharia Industry Exclusions ETF (SPUS)

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

SPUS

SP Funds S&P 500 Sharia Industry Exclusions ETF

SPUS Description

The investment seeks to track the performance, before fees and expenses, of the S&P 500 Shariah Industry Exclusions Index. The index is composed of the constituents of the S&P 500® Shariah Index other than those from the following sub-industries: Aerospace & Defense, Financial Exchanges & Data, and Data Processing & Outsourced Services. The manager attempts to invest all, or substantially all, of its assets in the component securities that make up the index. Under normal circumstances, at least 80% of the fund's total assets will be invested in the component securities of the index. It is non-diversified.

Grade (RS Rating)

Last Trade

$42.49

Average Daily Volume

187,591

Number of Holdings ^*

223

* may have additional holdings in another (foreign) market

Performance

Period	FBUF	SPUS
30 Days	3.10%	1.91%
60 Days	4.70%	2.94%
90 Days	6.08%	3.81%
12 Months		29.89%

61 Overlapping Holdings

Symbol	Grade	Weight in FBUF	Weight in SPUS	Overlap
AAPL	C	7.34%	11.07%	7.34%
ABBV	D	0.91%	0.94%	0.91%
ABT	B	0.63%	0.64%	0.63%
ADBE	C	0.94%	0.7%	0.7%
ALLE	D	0.38%	0.04%	0.04%
AMAT	F	0.67%	0.45%	0.45%
AME	A	0.09%	0.14%	0.09%
AMZN	C	3.84%	6.03%	3.84%
ANET	C	0.06%	0.31%	0.06%
AVGO	D	1.62%	2.42%	1.62%
BDX	F	0.58%	0.2%	0.2%
BIIB	F	0.21%	0.07%	0.07%
CAH	B	0.31%	0.09%	0.09%
CL	D	0.55%	0.24%	0.24%
CLX	B	0.14%	0.07%	0.07%
CRM	B	1.16%	1.0%	1.0%
CSCO	B	0.8%	0.74%	0.74%
CSX	B	0.49%	0.21%	0.21%
CTAS	B	0.65%	0.24%	0.24%
DVN	F	0.52%	0.08%	0.08%
ECL	D	0.63%	0.19%	0.19%
EOG	A	0.48%	0.25%	0.25%
FTNT	C	0.2%	0.19%	0.19%
GILD	C	0.74%	0.35%	0.35%
GOOG	C	1.89%	2.71%	1.89%
GOOGL	C	2.04%	3.28%	2.04%
GRMN	B	0.44%	0.1%	0.1%
HD	A	1.32%	1.26%	1.26%
IDXX	F	0.15%	0.11%	0.11%
INCY	C	0.34%	0.04%	0.04%
ITW	B	0.14%	0.23%	0.14%
JNJ	D	0.73%	1.17%	0.73%
KLAC	D	0.61%	0.26%	0.26%
LLY	F	0.76%	1.89%	0.76%
LRCX	F	0.24%	0.29%	0.24%
META	D	2.89%	3.93%	2.89%
MMM	D	0.19%	0.22%	0.19%
MRK	F	0.96%	0.79%	0.79%
MSFT	F	5.66%	9.82%	5.66%
MSI	B	0.43%	0.26%	0.26%
MU	D	0.5%	0.35%	0.35%
NOW	A	0.5%	0.67%	0.5%
NSC	B	0.11%	0.19%	0.11%
NUE	C	0.36%	0.11%	0.11%
NVDA	C	7.37%	11.41%	7.37%
PEP	F	0.19%	0.69%	0.19%
PG	A	0.8%	1.28%	0.8%
PPG	F	0.34%	0.09%	0.09%
QCOM	F	0.85%	0.55%	0.55%
QRVO	F	0.06%	0.02%	0.02%
RSG	A	0.23%	0.14%	0.14%
SYK	C	0.24%	0.42%	0.24%
TJX	A	0.72%	0.43%	0.43%
TMO	F	0.38%	0.62%	0.38%
TSLA	B	1.27%	3.02%	1.27%
TT	A	0.68%	0.3%	0.3%
UBER	D	0.24%	0.46%	0.24%
UNP	C	0.75%	0.45%	0.45%
WM	A	0.41%	0.25%	0.25%
XOM	B	1.56%	1.7%	1.56%
ZBRA	B	0.52%	0.06%	0.06%

FBUF Overweight 94 Positions Relative to SPUS

Symbol	Grade	Weight
BRK.A	B	2.2%
JPM	A	1.93%
MA	C	1.36%
NFLX	A	1.28%
BAC	A	1.18%
PM	B	0.94%
CMCSA	B	0.84%
WMT	A	0.82%
NEE	D	0.82%
SCHW	B	0.79%
BMY	B	0.74%
PYPL	B	0.72%
C	A	0.72%
T	A	0.71%
LMT	D	0.71%
PGR	A	0.67%
V	A	0.65%
DIS	B	0.65%
CI	F	0.63%
SQ	B	0.6%
NOC	D	0.6%
UNH	C	0.57%
SEIC	B	0.54%
MMC	B	0.53%
ZM	B	0.53%
CAT	B	0.53%
DBX	B	0.52%
CVNA	B	0.52%
TXT	D	0.5%
GE	D	0.48%
CMG	B	0.47%
IGT	F	0.46%
CME	A	0.44%
SPG	B	0.44%
AXP	A	0.43%
EXEL	B	0.43%
PFE	D	0.41%
HWM	A	0.38%
PCAR	B	0.37%
ANF	C	0.35%
TDC	D	0.35%
ALRM	C	0.34%
F	C	0.33%
LDOS	C	0.31%
SKYW	B	0.31%
COST	B	0.3%
RTX	C	0.28%
TMUS	B	0.28%
MEDP	D	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%
GAP	C	0.21%
TPH	D	0.18%
SSNC	B	0.18%
CACI	D	0.17%
PSA	D	0.17%
LNW	D	0.16%
BBWI	D	0.16%
OXY	D	0.15%
VST	B	0.14%
GL	B	0.13%
GEN	B	0.13%
KR	B	0.12%
BK	A	0.12%
INTU	C	0.12%
AON	A	0.12%
DASH	A	0.11%
LPLA	A	0.11%
UNM	A	0.1%
ED	D	0.1%
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%
NBIX	C	0.06%
ORCL	B	0.04%
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 162 Positions Relative to SPUS

Symbol	Grade	Weight
AMD	F	-0.71%
ACN	C	-0.71%
LIN	D	-0.69%
ISRG	A	-0.61%
TXN	C	-0.58%
BKNG	A	-0.53%
DHR	F	-0.48%
LOW	D	-0.48%
HON	B	-0.47%
ETN	A	-0.46%
COP	C	-0.42%
BSX	B	-0.42%
PANW	C	-0.4%
PLD	D	-0.34%
MDT	D	-0.34%
ADI	D	-0.33%
UPS	C	-0.31%
EQIX	A	-0.28%
NKE	D	-0.28%
PH	A	-0.28%
APH	A	-0.27%
MDLZ	F	-0.27%
SHW	A	-0.27%
MCK	B	-0.26%
SNPS	B	-0.26%
CDNS	B	-0.26%
REGN	F	-0.25%
EMR	A	-0.24%
APD	A	-0.23%
CEG	D	-0.23%
ORLY	B	-0.22%
ADSK	A	-0.21%
SLB	C	-0.2%
FCX	D	-0.2%
ROP	B	-0.19%
JCI	C	-0.18%
NXPI	D	-0.18%
TGT	F	-0.18%
FICO	B	-0.18%
AZO	C	-0.17%
GWW	B	-0.17%
PWR	A	-0.16%
NEM	D	-0.16%
CMI	A	-0.16%
KMB	D	-0.15%
ROST	C	-0.15%
FAST	B	-0.15%
DHI	D	-0.15%
CPRT	A	-0.15%
COR	B	-0.14%
BKR	B	-0.14%
VLO	C	-0.14%
KVUE	A	-0.14%
IT	C	-0.13%
OTIS	C	-0.13%
ODFL	B	-0.13%
CTVA	C	-0.13%
HES	B	-0.13%
IR	B	-0.13%
EW	C	-0.13%
GLW	B	-0.12%
VMC	B	-0.12%
A	D	-0.12%
MNST	C	-0.12%
CTSH	B	-0.12%
GEHC	F	-0.12%
WAB	B	-0.11%
DD	D	-0.11%
MCHP	D	-0.11%
LULU	C	-0.11%
RMD	C	-0.11%
GIS	D	-0.11%
MLM	B	-0.11%
HPQ	B	-0.11%
KDP	D	-0.11%
ANSS	B	-0.1%
DXCM	D	-0.1%
EFX	F	-0.1%
ROK	B	-0.1%
AVB	B	-0.1%
DECK	A	-0.09%
DOV	A	-0.09%
MPWR	F	-0.09%
CHD	B	-0.09%
HAL	C	-0.09%
ON	D	-0.09%
KEYS	A	-0.09%
TSCO	D	-0.09%
EBAY	D	-0.09%
XYL	D	-0.09%
HUBB	B	-0.08%
MTD	D	-0.08%
EQR	B	-0.08%
NTAP	C	-0.08%
ADM	D	-0.08%
TYL	B	-0.08%
HSY	F	-0.08%
VLTO	D	-0.08%
FTV	C	-0.08%
PHM	D	-0.08%
STLD	B	-0.07%
STE	F	-0.07%
WAT	B	-0.07%
K	A	-0.07%
PKG	A	-0.07%
ZBH	C	-0.07%
WY	D	-0.07%
WST	C	-0.07%
PTC	A	-0.07%
CDW	F	-0.07%
HOLX	D	-0.06%
MAA	B	-0.06%
PODD	C	-0.06%
MKC	D	-0.06%
FSLR	F	-0.06%
CTRA	B	-0.06%
LH	C	-0.06%
BLDR	D	-0.06%
JBL	B	-0.05%
JBHT	C	-0.05%
EL	F	-0.05%
VRSN	F	-0.05%
ALGN	D	-0.05%
AVY	D	-0.05%
CF	B	-0.05%
ULTA	F	-0.05%
J	F	-0.05%
EXPD	D	-0.05%
MAS	D	-0.05%
GPC	D	-0.05%
IEX	B	-0.05%
TER	D	-0.05%
BBY	D	-0.05%
TRMB	B	-0.05%
PNR	A	-0.05%
MOH	F	-0.05%
JNPR	F	-0.04%
CHRW	C	-0.04%
CPT	B	-0.04%
ALB	C	-0.04%
SMCI	F	-0.04%
SWKS	F	-0.04%
AKAM	D	-0.04%
EPAM	C	-0.04%
NDSN	B	-0.04%
POOL	C	-0.04%
ROL	B	-0.04%
APTV	D	-0.04%
FFIV	B	-0.04%
RL	B	-0.03%
MOS	F	-0.03%
ENPH	F	-0.03%
AOS	F	-0.03%
TFX	F	-0.03%
HSIC	B	-0.03%
CRL	C	-0.03%
LKQ	D	-0.03%
PAYC	B	-0.03%
TECH	D	-0.03%
GNRC	B	-0.03%
LW	C	-0.03%
MHK	D	-0.02%