FDCF vs. USMV ETF Comparison

Comparison of Fidelity Disruptive Communications ETF (FDCF) to iShares MSCI USA Minimum Volatility ETF (USMV)

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

$38.86

Average Daily Volume

6,517

Number of Holdings ^*

* may have additional holdings in another (foreign) market

USMV

iShares MSCI USA Minimum Volatility ETF

USMV Description

The investment seeks the investment results of an index composed of U.S. equities that, in the aggregate, have lower volatility characteristics relative to the broader U.S. equity market. The fund generally invests at least 90% of its assets in securities of the underlying index or in depositary receipts representing securities in the underlying index. The underlying index follows a rules-based methodology to determine weights for securities in the index that seeks to minimize total risk of the MSCI USA Index. Components primarily include consumer staples, healthcare and information technology companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$94.57

Average Daily Volume

1,669,986

Number of Holdings ^*

170

* may have additional holdings in another (foreign) market

Performance

Period	FDCF	USMV
30 Days	3.05%	3.92%
60 Days	4.80%	3.84%
90 Days	13.26%	5.09%
12 Months	42.92%	27.11%

11 Overlapping Holdings

Symbol	Grade	Weight in FDCF	Weight in USMV	Overlap
AAPL	A	2.49%	0.99%	0.99%
AMZN	B	5.19%	0.14%	0.14%
ANET	C	5.02%	0.29%	0.29%
CDNS	B	2.33%	0.18%	0.18%
CMCSA	C	2.18%	0.39%	0.39%
MSFT	C	1.34%	1.34%	1.34%
NOW	A	1.37%	0.75%	0.75%
NVDA	C	5.5%	0.67%	0.67%
SNPS	B	1.06%	0.18%	0.18%
TMUS	A	4.44%	1.95%	1.95%
UBER	D	2.49%	0.45%	0.45%

FDCF Overweight 24 Positions Relative to USMV

Symbol	Grade	Weight
SE	B	5.3%
GOOGL	C	5.05%
AMT	D	4.91%
TSM	D	4.43%
LBRDA	C	3.84%
SNAP	C	3.11%
META	D	2.97%
TWLO	B	2.91%
PDD	F	2.57%
PINS	D	2.54%
NFLX	B	2.25%
IOT	B	2.01%
SPOT	B	1.54%
ZM	B	1.41%
PI	D	1.34%
BABA	D	1.28%
DOCU	B	1.13%
NET	B	1.12%
NXPI	D	1.11%
DY	D	1.06%
GOGO	C	1.04%
BMBL	C	0.97%
ON	D	0.83%
SATS	C	0.76%

FDCF Underweight 159 Positions Relative to USMV

Symbol	Grade	Weight
MSI	B	-1.81%
WMT	A	-1.78%
PGR	A	-1.67%
IBM	C	-1.66%
WCN	A	-1.56%
RSG	A	-1.55%
BRK.A	B	-1.55%
DUK	C	-1.49%
CSCO	A	-1.47%
CB	C	-1.47%
APH	B	-1.44%
WM	A	-1.44%
NOC	D	-1.43%
TXN	D	-1.39%
VZ	B	-1.35%
SO	C	-1.35%
MCK	B	-1.35%
UNH	B	-1.34%
ORCL	B	-1.31%
ROP	B	-1.3%
ACN	B	-1.29%
AJG	A	-1.27%
MCD	D	-1.25%
LLY	D	-1.25%
PG	A	-1.23%
AVGO	D	-1.19%
JNJ	D	-1.18%
TRV	B	-1.15%
ED	C	-1.13%
MMC	A	-1.11%
ABBV	D	-1.04%
MRK	D	-1.01%
PEP	F	-1.01%
GDDY	A	-1.0%
AZO	B	-0.98%
GILD	B	-0.94%
V	A	-0.9%
EA	B	-0.89%
FCNCA	B	-0.88%
CBOE	B	-0.85%
LMT	D	-0.82%
K	A	-0.8%
WEC	A	-0.78%
CTSH	A	-0.76%
T	A	-0.74%
TSN	B	-0.71%
MA	A	-0.7%
VRTX	D	-0.69%
FI	A	-0.69%
ORLY	A	-0.68%
ACGL	D	-0.68%
COR	A	-0.67%
GIS	D	-0.66%
VRSN	C	-0.64%
KR	A	-0.61%
AMGN	F	-0.59%
FICO	A	-0.59%
REGN	F	-0.59%
KDP	D	-0.59%
TDY	B	-0.57%
BDX	F	-0.56%
KEYS	B	-0.55%
FANG	F	-0.55%
FFIV	A	-0.55%
MPC	D	-0.54%
INCY	B	-0.53%
AON	A	-0.53%
CME	A	-0.53%
PTC	A	-0.52%
ELV	F	-0.52%
YUM	B	-0.5%
BMY	B	-0.49%
XEL	A	-0.46%
NEM	F	-0.46%
JNPR	F	-0.45%
TJX	A	-0.45%
XOM	C	-0.45%
MDLZ	F	-0.44%
WDAY	C	-0.43%
EG	C	-0.43%
ERIE	D	-0.42%
VRSK	A	-0.42%
CL	D	-0.41%
CHD	B	-0.4%
HUM	C	-0.4%
BAH	F	-0.39%
AEP	C	-0.39%
AKAM	D	-0.39%
KHC	D	-0.38%
WTW	A	-0.38%
CTVA	A	-0.38%
ROL	A	-0.36%
IT	C	-0.35%
AFG	A	-0.35%
GEN	A	-0.35%
CDW	F	-0.35%
CVX	A	-0.34%
MKL	A	-0.34%
GRMN	B	-0.33%
CPB	D	-0.33%
AIZ	A	-0.32%
NBIX	C	-0.32%
WMB	B	-0.31%
WRB	A	-0.31%
GLW	B	-0.31%
FWONK	A	-0.31%
HSY	F	-0.3%
HD	B	-0.3%
ICE	D	-0.28%
L	A	-0.28%
HON	B	-0.25%
AEE	A	-0.24%
HUBS	B	-0.24%
ADI	D	-0.23%
D	C	-0.23%
AZPN	A	-0.23%
ALNY	D	-0.22%
NTAP	B	-0.22%
BMRN	D	-0.22%
HRL	D	-0.21%
CI	D	-0.21%
KMB	C	-0.21%
TW	A	-0.2%
DTE	C	-0.2%
PKG	A	-0.2%
PFE	D	-0.2%
DPZ	B	-0.19%
CRWD	B	-0.19%
CMS	B	-0.19%
MELI	C	-0.18%
MOH	D	-0.18%
EOG	C	-0.17%
HOLX	D	-0.16%
LIN	D	-0.16%
STX	D	-0.16%
GOOG	C	-0.16%
UTHR	B	-0.14%
MDT	D	-0.13%
DELL	C	-0.12%
HIG	A	-0.12%
OXY	F	-0.12%
DGX	B	-0.11%
KO	D	-0.1%
LNT	A	-0.1%
RTX	D	-0.09%
ADP	A	-0.09%
ABT	B	-0.09%
OTIS	C	-0.07%
TEL	C	-0.07%
ATO	A	-0.06%
PSX	C	-0.06%
FSLR	F	-0.06%
KNX	B	-0.06%
VLO	C	-0.05%
BR	A	-0.05%
CRM	B	-0.05%
GD	F	-0.05%
ULTA	F	-0.04%
CVS	D	-0.04%