FDCF vs. XTL ETF Comparison

Comparison of Fidelity Disruptive Communications ETF (FDCF) to SPDR S&P Telecom ETF (XTL)

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

$38.44

Average Daily Volume

6,444

Number of Holdings ^*

* may have additional holdings in another (foreign) market

XTL

SPDR S&P Telecom ETF

XTL Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index derived from the telecommunications segment of a U.S. total market composite index. In seeking to track the performance of the S&P Telecom Select Industry Index (the "index"), the fund employs a replication strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the telecommunications industry group of the S&P Total Market Index ("S&P TMI"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$107.70

Average Daily Volume

15,491

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FDCF	XTL
30 Days	1.96%	5.43%
60 Days	8.19%	9.02%
90 Days	8.71%	13.00%
12 Months	41.24%	55.48%

3 Overlapping Holdings

Symbol	Grade	Weight in FDCF	Weight in XTL	Overlap
ANET	C	4.87%	4.24%	4.24%
GOGO	C	1.02%	0.98%	0.98%
TMUS	B	4.48%	4.63%	4.48%

FDCF Overweight 32 Positions Relative to XTL

Symbol	Grade	Weight
NVDA	B	5.66%
AMZN	C	5.62%
GOOGL	C	5.47%
SE	A	4.91%
AMT	C	4.68%
TSM	B	4.34%
LBRDA	C	4.1%
META	D	3.08%
SNAP	D	3.02%
PDD	F	2.9%
TWLO	A	2.78%
PINS	F	2.53%
UBER	F	2.47%
AAPL	C	2.43%
CDNS	B	2.28%
CMCSA	B	2.2%
NFLX	A	2.08%
IOT	A	1.88%
SPOT	B	1.51%
BABA	D	1.41%
ZM	C	1.39%
MSFT	D	1.37%
NOW	A	1.35%
PI	D	1.3%
DOCU	B	1.11%
DY	D	1.09%
NXPI	D	1.09%
SNPS	B	1.04%
NET	B	1.01%
BMBL	C	0.98%
SATS	D	0.71%
ON	D	0.69%

FDCF Underweight 35 Positions Relative to XTL

Symbol	Grade	Weight
LITE	B	-6.03%
CIEN	C	-4.91%
CSCO	B	-4.6%
FFIV	B	-4.55%
MSI	B	-4.42%
CCOI	B	-4.22%
LUMN	C	-4.09%
T	A	-4.06%
JNPR	D	-3.93%
FYBR	C	-3.77%
TDS	B	-3.75%
VZ	C	-3.64%
NPAB	F	-3.55%
IRDM	D	-3.43%
EXTR	C	-2.95%
INFN	D	-2.74%
UI	B	-2.04%
CALX	D	-2.02%
VIAV	C	-1.84%
AAOI	B	-1.81%
NTCT	C	-1.8%
VSAT	F	-1.64%
USM	B	-1.46%
HLIT	D	-1.42%
GSAT	C	-0.97%
COMM	D	-0.82%
LILAK	D	-0.76%
BAND	B	-0.73%
DGII	C	-0.72%
ATEX	F	-0.6%
IDT	B	-0.49%
CLFD	F	-0.43%
NTGR	B	-0.4%
SHEN	F	-0.35%
AVNW	F	-0.14%