FBUF vs. SPY ETF Comparison

Comparison of Fidelity Dynamic Buffered Equity ETF (FBUF) to SPDR S&P 500 (SPY)

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

$27.17

Average Daily Volume

3,409

Number of Holdings ^*

155

* may have additional holdings in another (foreign) market

SPY

SPDR S&P 500

SPY Description

The investment seeks to provide investment results that, before expenses, generally correspond to the price and yield performance of the S&P 500 Index. The Trust holds the Portfolio and cash and is not actively "managed" by traditional methods. To maintain the correspondence between the composition and weightings of Portfolio Securities and component stocks of the S&P 500 Index, the Trustee adjusts the Portfolio from time to time to conform to periodic changes in the identity and/or relative weightings of Index Securities.

Grade (RS Rating)

Last Trade

$585.75

Average Daily Volume

44,152,153

Number of Holdings ^*

498

* may have additional holdings in another (foreign) market

Performance

Period	FBUF	SPY
30 Days	1.13%	0.59%
60 Days	4.49%	4.39%
90 Days	5.93%	6.00%
12 Months		31.86%

123 Overlapping Holdings

Symbol	Grade	Weight in FBUF	Weight in SPY	Overlap
AAPL	C	7.13%	6.75%	6.75%
ABBV	F	0.93%	0.71%	0.71%
ABT	B	0.62%	0.4%	0.4%
ADBE	F	0.98%	0.45%	0.45%
ADP	B	0.26%	0.25%	0.25%
ALLE	D	0.15%	0.02%	0.02%
AMAT	F	0.72%	0.31%	0.31%
AME	A	0.09%	0.09%	0.09%
AMGN	D	0.26%	0.34%	0.26%
AMT	D	0.2%	0.18%	0.18%
AMZN	B	3.92%	3.86%	3.86%
ANET	C	0.07%	0.22%	0.07%
AON	A	0.12%	0.17%	0.12%
AVGO	C	1.89%	1.67%	1.67%
AXP	A	0.43%	0.33%	0.33%
BAC	A	1.14%	0.61%	0.61%
BDX	F	0.59%	0.14%	0.14%
BIIB	F	0.22%	0.05%	0.05%
BK	A	0.12%	0.12%	0.12%
BMY	B	0.79%	0.22%	0.22%
BRK.A	A	2.14%	1.71%	1.71%
C	A	0.71%	0.26%	0.26%
CAH	B	0.48%	0.06%	0.06%
CAT	B	0.53%	0.4%	0.4%
CI	D	0.65%	0.18%	0.18%
CINF	A	0.07%	0.05%	0.05%
CL	D	0.52%	0.15%	0.15%
CLX	A	0.13%	0.04%	0.04%
CMCSA	B	0.85%	0.35%	0.35%
CME	A	0.43%	0.16%	0.16%
CMG	B	0.48%	0.16%	0.16%
COST	B	0.3%	0.79%	0.3%
CRM	A	1.22%	0.59%	0.59%
CSCO	B	0.81%	0.46%	0.46%
CSX	B	0.59%	0.14%	0.14%
CTAS	B	0.67%	0.15%	0.15%
CVS	F	0.21%	0.15%	0.15%
CVX	A	0.02%	0.53%	0.02%
DIS	A	0.35%	0.36%	0.35%
DVN	F	0.51%	0.05%	0.05%
ECL	D	0.62%	0.12%	0.12%
ED	D	0.1%	0.07%	0.07%
EOG	A	0.29%	0.14%	0.14%
ETN	A	0.16%	0.28%	0.16%
F	C	0.32%	0.09%	0.09%
GE	D	0.49%	0.39%	0.39%
GEN	B	0.14%	0.03%	0.03%
GILD	B	0.78%	0.23%	0.23%
GL	B	0.13%	0.02%	0.02%
GOOG	B	1.93%	1.71%	1.71%
GOOGL	B	2.08%	2.06%	2.06%
GRMN	B	0.45%	0.06%	0.06%
HD	A	1.28%	0.77%	0.77%
HWM	A	0.42%	0.09%	0.09%
IDXX	F	0.1%	0.07%	0.07%
INCY	B	0.35%	0.03%	0.03%
ITW	B	0.14%	0.15%	0.14%
JNJ	D	0.71%	0.76%	0.71%
JPM	A	1.87%	1.4%	1.4%
KLAC	F	0.65%	0.18%	0.18%
KR	B	0.12%	0.08%	0.08%
LDOS	C	0.38%	0.05%	0.05%
LHX	B	0.22%	0.1%	0.1%
LLY	F	0.85%	1.22%	0.85%
LMT	D	0.74%	0.23%	0.23%
LRCX	F	0.25%	0.2%	0.2%
MA	A	1.36%	0.86%	0.86%
META	C	3.01%	2.49%	2.49%
MGM	D	0.23%	0.02%	0.02%
MMC	C	0.52%	0.22%	0.22%
MMM	D	0.19%	0.15%	0.15%
MRK	F	0.76%	0.51%	0.51%
MSCI	A	0.26%	0.09%	0.09%
MSFT	D	5.68%	6.23%	5.68%
MSI	A	0.43%	0.16%	0.16%
MU	D	0.69%	0.25%	0.25%
NEE	C	0.79%	0.31%	0.31%
NFLX	A	1.24%	0.67%	0.67%
NOC	D	0.65%	0.14%	0.14%
NOW	B	0.51%	0.41%	0.41%
NRG	B	0.09%	0.04%	0.04%
NSC	B	0.09%	0.12%	0.09%
NUE	D	0.37%	0.08%	0.08%
NVDA	B	7.69%	7.14%	7.14%
ORCL	A	0.04%	0.58%	0.04%
OXY	F	0.14%	0.07%	0.07%
PCAR	B	0.39%	0.12%	0.12%
PEP	F	0.19%	0.45%	0.19%
PFE	F	0.43%	0.31%	0.31%
PG	C	0.77%	0.76%	0.76%
PGR	B	0.68%	0.3%	0.3%
PM	A	0.87%	0.39%	0.39%
PPG	F	0.33%	0.06%	0.06%
PSA	C	0.16%	0.1%	0.1%
PYPL	A	0.73%	0.17%	0.17%
QCOM	F	0.83%	0.38%	0.38%
QRVO	F	0.06%	0.01%	0.01%
RSG	B	0.23%	0.08%	0.08%
RTX	D	0.28%	0.32%	0.28%
SCHW	A	0.74%	0.23%	0.23%
SPG	A	0.43%	0.11%	0.11%
SPGI	C	0.38%	0.31%	0.31%
SYK	A	0.23%	0.25%	0.23%
T	A	0.68%	0.32%	0.32%
TJX	A	0.71%	0.26%	0.26%
TMO	D	0.4%	0.43%	0.4%
TMUS	A	0.09%	0.23%	0.09%
TROW	A	0.28%	0.05%	0.05%
TRV	A	0.25%	0.12%	0.12%
TSLA	B	1.18%	1.6%	1.18%
TT	A	0.67%	0.18%	0.18%
TXT	D	0.52%	0.03%	0.03%
UBER	C	0.32%	0.31%	0.31%
UNH	B	0.59%	1.1%	0.59%
UNP	D	0.75%	0.3%	0.3%
V	A	0.63%	1.02%	0.63%
VST	A	0.13%	0.09%	0.09%
VZ	C	0.23%	0.35%	0.23%
WM	B	0.42%	0.16%	0.16%
WMT	A	0.81%	0.72%	0.72%
WTW	B	0.11%	0.06%	0.06%
XOM	B	1.54%	1.07%	1.07%
ZBRA	B	0.54%	0.04%	0.04%

FBUF Overweight 32 Positions Relative to SPY

Symbol	Grade	Weight
SQ	A	0.61%
ZM	B	0.59%
EXEL	B	0.55%
SEIC	A	0.55%
DBX	C	0.54%
CVNA	A	0.52%
IGT	F	0.49%
ANF	C	0.42%
SSNC	D	0.38%
TDC	F	0.35%
MEDP	D	0.33%
SKYW	A	0.31%
CACI	C	0.21%
GAP	C	0.21%
ALRM	C	0.19%
TPH	D	0.18%
LNW	D	0.17%
CRUS	F	0.16%
BBWI	C	0.16%
DASH	B	0.11%
LPLA	A	0.11%
DOCU	A	0.1%
LYFT	B	0.09%
TWLO	A	0.09%
UNM	A	0.09%
NBIX	D	0.07%
PLTK	A	0.07%
UTHR	B	0.05%
TNL	A	0.04%
VEEV	C	0.04%
TOL	B	0.02%
PEGA	B	0.02%

FBUF Underweight 375 Positions Relative to SPY

Symbol	Grade	Weight
WFC	A	-0.49%
KO	D	-0.49%
AMD	F	-0.47%
LIN	D	-0.44%
ACN	C	-0.44%
MCD	D	-0.42%
TXN	C	-0.39%
IBM	D	-0.39%
GS	A	-0.37%
INTU	A	-0.36%
ISRG	A	-0.36%
MS	A	-0.33%
BKNG	A	-0.33%
DHR	D	-0.32%
LOW	A	-0.3%
HON	A	-0.28%
COP	C	-0.26%
PANW	B	-0.25%
BX	A	-0.25%
BSX	B	-0.25%
VRTX	C	-0.25%
FI	A	-0.24%
MDT	D	-0.23%
SBUX	A	-0.22%
PLTR	A	-0.22%
ADI	D	-0.22%
DE	D	-0.21%
PLD	D	-0.21%
CB	C	-0.21%
INTC	C	-0.21%
BA	F	-0.21%
UPS	C	-0.2%
ELV	F	-0.2%
KKR	A	-0.2%
SO	C	-0.19%
SHW	B	-0.18%
MDLZ	F	-0.18%
ICE	D	-0.18%
NKE	D	-0.18%
PH	A	-0.18%
GEV	A	-0.18%
MO	A	-0.18%
EQIX	B	-0.17%
SNPS	C	-0.17%
REGN	F	-0.17%
APH	B	-0.17%
DUK	C	-0.17%
GD	D	-0.16%
USB	B	-0.16%
CDNS	B	-0.16%
PNC	A	-0.16%
COF	A	-0.15%
CEG	D	-0.15%
CRWD	B	-0.15%
ZTS	D	-0.15%
WELL	A	-0.15%
TDG	D	-0.15%
TGT	D	-0.14%
APD	A	-0.14%
MCK	A	-0.14%
ORLY	A	-0.14%
MCO	C	-0.14%
EMR	A	-0.14%
TFC	A	-0.13%
FDX	A	-0.13%
CARR	D	-0.13%
AJG	A	-0.13%
MAR	A	-0.13%
HCA	D	-0.13%
ADSK	B	-0.13%
FCX	F	-0.13%
WMB	A	-0.13%
URI	B	-0.12%
NXPI	F	-0.12%
OKE	A	-0.12%
ROP	C	-0.12%
HLT	A	-0.12%
GM	A	-0.12%
ABNB	C	-0.12%
SLB	C	-0.12%
GWW	A	-0.11%
DLR	A	-0.11%
PSX	C	-0.11%
RCL	A	-0.11%
JCI	A	-0.11%
AZO	C	-0.11%
AFL	C	-0.11%
AMP	A	-0.11%
SRE	A	-0.11%
FAST	B	-0.1%
D	C	-0.1%
CPRT	A	-0.1%
CMI	A	-0.1%
DHI	D	-0.1%
MET	A	-0.1%
AIG	B	-0.1%
O	D	-0.1%
ALL	A	-0.1%
KMI	A	-0.1%
NEM	F	-0.1%
FICO	A	-0.1%
AEP	C	-0.1%
FTNT	A	-0.1%
MPC	D	-0.1%
CTVA	D	-0.09%
COR	B	-0.09%
KVUE	A	-0.09%
PCG	A	-0.09%
ODFL	B	-0.09%
KMB	C	-0.09%
VLO	C	-0.09%
CCI	D	-0.09%
PRU	A	-0.09%
PWR	A	-0.09%
DFS	A	-0.09%
ROST	D	-0.09%
FIS	B	-0.09%
PAYX	B	-0.09%
MLM	B	-0.08%
YUM	D	-0.08%
SYY	D	-0.08%
EA	A	-0.08%
ACGL	C	-0.08%
MPWR	F	-0.08%
IQV	F	-0.08%
EXC	C	-0.08%
VMC	B	-0.08%
MNST	D	-0.08%
CBRE	B	-0.08%
CTSH	B	-0.08%
HES	B	-0.08%
MCHP	F	-0.08%
CHTR	B	-0.08%
EW	C	-0.08%
GEHC	D	-0.08%
VRSK	B	-0.08%
DELL	C	-0.08%
DAL	A	-0.08%
A	D	-0.08%
OTIS	D	-0.08%
TRGP	A	-0.08%
LEN	D	-0.08%
IT	B	-0.08%
IR	A	-0.08%
PEG	C	-0.08%
BKR	A	-0.08%
EFX	F	-0.07%
CNC	F	-0.07%
AXON	A	-0.07%
ROK	A	-0.07%
IRM	D	-0.07%
DOW	F	-0.07%
EXR	C	-0.07%
HIG	C	-0.07%
FANG	D	-0.07%
HUM	F	-0.07%
WAB	B	-0.07%
DD	D	-0.07%
STZ	D	-0.07%
LULU	C	-0.07%
RMD	C	-0.07%
HPQ	B	-0.07%
MTB	A	-0.07%
GIS	D	-0.07%
XEL	A	-0.07%
KDP	D	-0.07%
GLW	B	-0.07%
HPE	B	-0.06%
DOV	A	-0.06%
KEYS	C	-0.06%
NVR	D	-0.06%
UAL	A	-0.06%
STT	A	-0.06%
ANSS	B	-0.06%
GPN	B	-0.06%
KHC	F	-0.06%
MTD	F	-0.06%
RJF	A	-0.06%
EBAY	D	-0.06%
XYL	D	-0.06%
WEC	A	-0.06%
CSGP	F	-0.06%
ON	F	-0.06%
TSCO	D	-0.06%
ETR	A	-0.06%
EIX	C	-0.06%
FITB	A	-0.06%
AVB	A	-0.06%
NDAQ	A	-0.06%
VICI	C	-0.06%
WDC	F	-0.05%
WY	D	-0.05%
WAT	B	-0.05%
AEE	A	-0.05%
SBAC	D	-0.05%
PTC	B	-0.05%
EQT	A	-0.05%
WST	C	-0.05%
PPL	A	-0.05%
RF	A	-0.05%
CPAY	A	-0.05%
EQR	C	-0.05%
CCL	A	-0.05%
GDDY	A	-0.05%
NTAP	D	-0.05%
DECK	A	-0.05%
DTE	C	-0.05%
CHD	A	-0.05%
HUBB	B	-0.05%
HBAN	A	-0.05%
VLTO	D	-0.05%
ADM	D	-0.05%
BR	A	-0.05%
TYL	B	-0.05%
FTV	D	-0.05%
AWK	C	-0.05%
HSY	F	-0.05%
VTR	C	-0.05%
BRO	B	-0.05%
SW	A	-0.05%
SYF	A	-0.05%
PHM	D	-0.05%
HAL	C	-0.05%
CDW	F	-0.05%
TTWO	A	-0.05%
DXCM	C	-0.05%
BBY	C	-0.04%
ARE	D	-0.04%
TRMB	A	-0.04%
TER	F	-0.04%
IEX	B	-0.04%
LVS	C	-0.04%
MAA	A	-0.04%
CTRA	A	-0.04%
FDS	A	-0.04%
WRB	A	-0.04%
BALL	D	-0.04%
PFG	C	-0.04%
BAX	F	-0.04%
J	D	-0.04%
ULTA	D	-0.04%
KEY	A	-0.04%
SNA	A	-0.04%
HOLX	D	-0.04%
WBD	B	-0.04%
LUV	A	-0.04%
ESS	A	-0.04%
CNP	A	-0.04%
INVH	D	-0.04%
MOH	F	-0.04%
MKC	D	-0.04%
LH	B	-0.04%
LYV	A	-0.04%
DRI	B	-0.04%
CMS	C	-0.04%
IP	A	-0.04%
OMC	C	-0.04%
BLDR	D	-0.04%
FSLR	F	-0.04%
CBOE	D	-0.04%
FE	C	-0.04%
EXPE	A	-0.04%
NTRS	A	-0.04%
PKG	B	-0.04%
ATO	A	-0.04%
STX	D	-0.04%
CFG	A	-0.04%
ES	C	-0.04%
K	B	-0.04%
STLD	B	-0.04%
IFF	D	-0.04%
STE	D	-0.04%
ZBH	C	-0.04%
LYB	F	-0.04%
TDY	B	-0.04%
DLTR	F	-0.03%
HST	D	-0.03%
DAY	B	-0.03%
JNPR	D	-0.03%
UDR	C	-0.03%
JKHY	D	-0.03%
ROL	A	-0.03%
CAG	F	-0.03%
VTRS	A	-0.03%
FFIV	B	-0.03%
EVRG	A	-0.03%
SWK	F	-0.03%
POOL	D	-0.03%
APTV	F	-0.03%
NDSN	B	-0.03%
SWKS	F	-0.03%
LNT	A	-0.03%
AMCR	C	-0.03%
EL	F	-0.03%
CF	A	-0.03%
L	A	-0.03%
RVTY	D	-0.03%
DPZ	C	-0.03%
JBHT	B	-0.03%
JBL	C	-0.03%
VRSN	D	-0.03%
DOC	D	-0.03%
NI	A	-0.03%
ALGN	D	-0.03%
AKAM	F	-0.03%
EG	D	-0.03%
MRO	A	-0.03%
KIM	A	-0.03%
AVY	D	-0.03%
PODD	A	-0.03%
EXPD	D	-0.03%
TSN	A	-0.03%
DG	F	-0.03%
PNR	A	-0.03%
GPC	D	-0.03%
DGX	A	-0.03%
MAS	D	-0.03%
MRNA	F	-0.03%
FMC	F	-0.02%
MHK	D	-0.02%
BWA	A	-0.02%
HII	F	-0.02%
WYNN	D	-0.02%
HAS	D	-0.02%
RL	B	-0.02%
IVZ	B	-0.02%
FRT	B	-0.02%
CZR	F	-0.02%
MOS	D	-0.02%
HSIC	D	-0.02%
HRL	D	-0.02%
CPB	D	-0.02%
AOS	F	-0.02%
APA	F	-0.02%
TFX	F	-0.02%
MTCH	F	-0.02%
TAP	A	-0.02%
LKQ	D	-0.02%
AES	F	-0.02%
CE	F	-0.02%
ENPH	F	-0.02%
FOXA	A	-0.02%
PNW	A	-0.02%
SOLV	C	-0.02%
MKTX	C	-0.02%
ERIE	F	-0.02%
AIZ	A	-0.02%
CTLT	C	-0.02%
NWSA	B	-0.02%
GNRC	B	-0.02%
CRL	D	-0.02%
PAYC	B	-0.02%
ALB	C	-0.02%
IPG	F	-0.02%
SMCI	F	-0.02%
TPR	A	-0.02%
LW	C	-0.02%
EPAM	B	-0.02%
BXP	D	-0.02%
REG	A	-0.02%
TECH	D	-0.02%
KMX	B	-0.02%
UHS	D	-0.02%
EMN	C	-0.02%
BG	D	-0.02%
NCLH	B	-0.02%
SJM	F	-0.02%
CHRW	A	-0.02%
CPT	D	-0.02%
NWS	A	-0.01%
FOX	A	-0.01%
WBA	F	-0.01%
BEN	C	-0.01%
PARA	C	-0.01%
DVA	C	-0.01%