FDCF vs. FWD ETF Comparison

Comparison of Fidelity Disruptive Communications ETF (FDCF) to AB Disruptors ETF (FWD)

FDCF

Fidelity Disruptive Communications ETF

FDCF Description

The fund normally invests at least 80% of assets in securities of disruptive communications companies. Fidelity's disruptive strategies seek to identify innovative developments that could signal new directions for delivering products and services to customers. Generally, these companies have or are developing new or unconventional ways of doing business that could disrupt and displace incumbents over time. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$38.34

Average Daily Volume

6,310

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FWD

AB Disruptors ETF

FWD Description

FWD seeks capital growth by actively investing in companies globally, believed to be at the forefront of innovative growth trends. The funds adviser considers such companies as market disrupters. Many may utilize technology to enhance or create new demand for their product or service. The selection process combines a top-down evaluation of macroeconomic growth trends with fundamental, bottom-up analysis of individual companies. Factors such as current and projected profitability, pricing power, competitiveness, technological superiority, and management robustness of a company are considered. Targeted themes may include cloud infrastructure & AI, energy transition, transportation & logistics, medical innovation, digital transactions & media, and industrial innovation. The resulting portfolio of 80-120 stocks is considered non-diversified and may heavily focus on industries within the Information Technology sector.

Grade (RS Rating)

Last Trade

$81.57

Average Daily Volume

19,651

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FDCF	FWD
30 Days	1.14%	1.19%
60 Days	7.92%	5.50%
90 Days	8.81%	5.29%
12 Months	40.92%	42.18%

15 Overlapping Holdings

Symbol	Grade	Weight in FDCF	Weight in FWD	Overlap
AAPL	C	2.43%	0.73%	0.73%
AMZN	B	5.62%	1.36%	1.36%
ANET	C	4.87%	1.59%	1.59%
GOOGL	B	5.47%	0.53%	0.53%
IOT	A	1.88%	1.01%	1.01%
META	C	3.08%	1.44%	1.44%
MSFT	D	1.37%	0.69%	0.69%
NFLX	A	2.08%	1.45%	1.45%
NOW	B	1.35%	0.56%	0.56%
NVDA	A	5.66%	5.44%	5.44%
ON	F	0.69%	1.01%	0.69%
PI	D	1.3%	0.41%	0.41%
SNPS	C	1.04%	0.73%	0.73%
SPOT	B	1.51%	1.17%	1.17%
UBER	F	2.47%	0.52%	0.52%

FDCF Overweight 20 Positions Relative to FWD

Symbol	Grade	Weight
SE	A	4.91%
AMT	D	4.68%
TMUS	B	4.48%
TSM	B	4.34%
LBRDA	C	4.1%
SNAP	D	3.02%
PDD	D	2.9%
TWLO	A	2.78%
PINS	F	2.53%
CDNS	B	2.28%
CMCSA	B	2.2%
BABA	D	1.41%
ZM	B	1.39%
DOCU	B	1.11%
DY	C	1.09%
NXPI	F	1.09%
GOGO	C	1.02%
NET	B	1.01%
BMBL	C	0.98%
SATS	C	0.71%

FDCF Underweight 67 Positions Relative to FWD

Symbol	Grade	Weight
TSLA	A	-2.9%
VST	A	-2.21%
ORCL	A	-2.12%
GEV	A	-2.07%
VRT	A	-1.63%
ISRG	A	-1.59%
AVGO	C	-1.51%
TXN	C	-1.5%
BSX	A	-1.49%
SHOP	B	-1.39%
PLTR	A	-1.26%
MRVL	B	-1.23%
FTNT	B	-1.2%
HWM	A	-1.18%
EPAM	C	-1.17%
TTD	B	-1.14%
COHR	B	-1.12%
ETN	B	-1.09%
CRWD	B	-1.08%
DASH	A	-1.05%
APO	A	-1.05%
MU	D	-1.04%
TT	A	-1.03%
LRCX	F	-0.98%
CAT	C	-0.97%
LSCC	D	-0.96%
ARM	F	-0.96%
DDOG	A	-0.95%
TER	F	-0.94%
TEAM	A	-0.94%
AMAT	F	-0.93%
MDB	C	-0.91%
MELI	D	-0.86%
WAB	B	-0.85%
BKR	B	-0.84%
LLY	F	-0.83%
GWRE	A	-0.78%
SYK	A	-0.78%
CIEN	B	-0.76%
RBLX	B	-0.75%
NEE	C	-0.74%
ADBE	D	-0.73%
MNDY	D	-0.73%
ABBV	F	-0.71%
AMD	F	-0.7%
LITE	B	-0.68%
HUBS	B	-0.66%
SLAB	F	-0.65%
ADI	D	-0.64%
ILMN	C	-0.62%
BKNG	A	-0.61%
TMO	F	-0.6%
AFRM	A	-0.59%
CRL	D	-0.55%
FROG	C	-0.52%
RDDT	A	-0.51%
ABT	A	-0.5%
BSY	D	-0.49%
RGEN	F	-0.48%
IQV	F	-0.47%
MEDP	D	-0.46%
IPGP	D	-0.45%
ABNB	D	-0.45%
MPWR	F	-0.42%
FCX	F	-0.41%
Z	A	-0.4%
CALX	D	-0.01%