FCOM vs. ALAI ETF Comparison

Comparison of Fidelity MSCI Telecommunication Services Index ETF (FCOM) to Alger AI Enablers & Adopters ETF (ALAI)

FCOM

Fidelity MSCI Telecommunication Services Index ETF

FCOM Description

The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Telecommunication Services 25/50 Index. Investing at least 80% of assets in securities included in the fund's underlying index. The fund's underlying index is the MSCI USA IMI Telecommunication Services 25/50 Index, which represents the performance of the telecommunication services sector in the U.S. equity market. It may or may not hold all of the securities in the MSCI USA IMI Telecommunication Services 25/50 Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$57.90

Average Daily Volume

78,923

Number of Holdings ^*

* may have additional holdings in another (foreign) market

ALAI

Alger AI Enablers & Adopters ETF

ALAI Description

ALAI focuses on equity securities of firms benefiting from artificial intelligence (AI), targeting both AI Enablersthose developing components for and investing in AI infrastructureand AI Adoptersthose integrating AI to enhance their operations. The fund manager employs fundamental research to select securities, considering factors like revenue, resources devoted to AI, and market share estimates. This process assesses a firms involvement with AI and its potential impact on stock performance in the next one to three years. Additionally, ALAI actively seeks companies experiencing Positive Dynamic Change, or those demonstrating high unit volume growth or significant lifecycle shifts. Investments span all market capitalizations, with at least 25% in AI-related industries like technology, retail, and media. The fund may also include foreign securities and hold cash or equivalents during market volatility or when awaiting investment opportunities. ALAI aims to identify firms at the forefront of AI adoption, striving for sustainable long-term growth.

Grade (RS Rating)

Last Trade

$26.10

Average Daily Volume

10,268

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FCOM	ALAI
30 Days	5.29%	9.25%
60 Days	7.10%	13.38%
90 Days	9.75%	18.43%
12 Months	35.81%

5 Overlapping Holdings

Symbol	Grade	Weight in FCOM	Weight in ALAI	Overlap
GOOG	C	9.85%	2.33%	2.33%
META	D	21.65%	6.72%	6.72%
NFLX	A	5.0%	1.34%	1.34%
PINS	D	0.84%	0.79%	0.79%
TTD	B	1.8%	0.43%	0.43%

FCOM Overweight 88 Positions Relative to ALAI

Symbol	Grade	Weight
GOOGL	C	12.65%
DIS	B	4.36%
CMCSA	B	4.15%
VZ	C	4.13%
T	A	4.11%
TMUS	B	3.35%
EA	A	1.57%
CHTR	C	1.49%
TTWO	A	1.37%
LYV	A	1.34%
WBD	C	1.27%
RBLX	C	1.25%
OMC	C	1.03%
FOXA	B	0.85%
NWSA	B	0.85%
LBRDK	C	0.81%
IPG	D	0.77%
ROKU	D	0.74%
TKO	B	0.73%
SNAP	C	0.71%
NYT	C	0.65%
LUMN	C	0.65%
MTCH	D	0.63%
FYBR	D	0.52%
FOX	A	0.48%
PARA	C	0.45%
EDR	A	0.42%
NXST	C	0.41%
IAC	D	0.28%
CNK	B	0.28%
CCOI	B	0.28%
MSGS	A	0.27%
RDDT	B	0.26%
IRDM	D	0.25%
TDS	B	0.25%
SATS	D	0.24%
CARG	C	0.24%
TGNA	B	0.24%
ZI	D	0.2%
ZD	C	0.2%
YELP	C	0.18%
MGNI	A	0.16%
NPAB	B	0.16%
SIRI	C	0.15%
DJT	C	0.15%
CABO	C	0.14%
LBRDA	C	0.12%
TRIP	F	0.12%
GSAT	C	0.11%
CARS	B	0.1%
AMC	C	0.1%
QNST	B	0.09%
IMAX	B	0.09%
VMEO	B	0.08%
USM	B	0.08%
MSGE	F	0.08%
IDT	B	0.07%
LGF.A	C	0.07%
LILAK	D	0.07%
STGW	B	0.06%
GCI	D	0.06%
SSTK	F	0.06%
IAS	C	0.06%
BMBL	C	0.06%
TTGT	C	0.06%
SHEN	F	0.05%
PUBM	C	0.05%
SCHL	D	0.05%
ZIP	F	0.05%
FUBO	F	0.04%
EVER	F	0.04%
IBTA	C	0.04%
THRY	F	0.04%
GOGO	C	0.04%
ATUS	C	0.04%
MCS	B	0.04%
CNSL	C	0.03%
BOC	C	0.03%
ADV	D	0.03%
ATEX	D	0.03%
CCO	C	0.03%
GTN	F	0.03%
LGF.A	C	0.03%
MAX	F	0.03%
LILA	D	0.02%
EB	C	0.02%
AMCX	C	0.02%
ANGI	D	0.01%

FCOM Underweight 36 Positions Relative to ALAI

Symbol	Grade	Weight
MSFT	F	-11.86%
AAPL	C	-11.09%
NVDA	C	-10.98%
AMZN	C	-8.81%
APP	B	-4.79%
AVGO	D	-4.14%
SPGI	C	-2.88%
TSM	B	-2.57%
VRT	B	-2.18%
DKNG	B	-1.77%
CEG	D	-1.69%
MELI	D	-1.45%
UNH	C	-1.42%
ISRG	A	-1.4%
EQIX	A	-1.34%
ADBE	C	-1.2%
NRG	B	-1.02%
AMD	F	-1.01%
SPOT	B	-1.0%
MU	D	-0.88%
ASML	F	-0.81%
SE	B	-0.8%
NTRA	B	-0.74%
NOW	A	-0.68%
TSLA	B	-0.63%
DELL	C	-0.58%
CDNS	B	-0.56%
MRVL	B	-0.48%
UBER	D	-0.47%
DLR	B	-0.45%
WMT	A	-0.31%
PWR	A	-0.28%
NEE	D	-0.27%
SHOP	B	-0.24%
JPM	A	-0.22%
HUBS	A	-0.2%