FDFF vs. MARB ETF Comparison

Comparison of Fidelity Disruptive Finance ETF (FDFF) to First Trust Merger Arbitrage ETF (MARB)

FDFF

Fidelity Disruptive Finance ETF

FDFF Description

The fund normally invests at least 80% of assets in securities of disruptive finance 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

$37.38

Average Daily Volume

2,248

Number of Holdings ^*

* may have additional holdings in another (foreign) market

MARB

First Trust Merger Arbitrage ETF

MARB Description

The investment seeks to provide investors with capital appreciation. Under normal market conditions, the fund seeks to achieve its investment objective by establishing long and short positions in the equity securities of companies that are involved in a publicly-announced significant corporate event, such as a merger or acquisition. It's portfolio may include equity securities issued by U.S. and non-U.S. companies, including American Depositary Receipts (ADRs), and derivatives, including total return swaps. The fund may invest in securities issued by small, mid and large capitalization issuers. It is non-diversified.

Grade (RS Rating)

Last Trade

$19.63

Average Daily Volume

6,829

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FDFF	MARB
30 Days	6.20%	-1.37%
60 Days	11.69%	-1.54%
90 Days	17.50%	-2.22%
12 Months	43.17%	-1.40%

1 Overlapping Holdings

	Symbol	Grade	Weight in FDFF	Weight in MARB	Overlap
	COF	B	5.03%	-5.12%	-5.12%

FDFF Overweight 32 Positions Relative to MARB

Symbol	Grade	Weight
BLK	A	5.78%
APO	A	5.71%
V	A	5.36%
MA	A	5.06%
FLYW	B	4.39%
MSTR	A	3.84%
EFX	F	3.33%
ICE	C	2.9%
TOST	A	2.83%
SQ	A	2.07%
OWL	A	2.06%
DLO	C	2.0%
COIN	A	2.0%
FI	A	1.83%
TW	A	1.48%
CBOE	C	1.47%
NRDS	C	1.38%
ARES	B	1.34%
MKTX	D	1.16%
CASH	B	1.15%
VRSK	B	1.1%
NU	C	1.09%
MSCI	A	1.06%
BILL	A	1.03%
VIRT	A	0.99%
PFSI	D	0.96%
AMH	C	0.9%
FOUR	A	0.89%
ALLY	C	0.85%
MELI	D	0.81%
RPAY	D	0.68%
UWMC	F	0.59%

FDFF Underweight 33 Positions Relative to MARB

Symbol	Grade	Weight
HTLF	B	-7.98%
HCP	B	-5.64%
EDR	A	-4.92%
ACI	C	-4.88%
DFS	B	-4.67%
AMED	F	-4.57%
AXNX	A	-4.2%
NAPA	A	-3.99%
ANSS	B	-3.85%
B	A	-3.78%
JNPR	D	-3.65%
EVRI	A	-3.48%
K	B	-3.28%
ESGR	B	-3.18%
CTLT	D	-3.17%
HES	B	-3.07%
VZIO	A	-3.05%
CHX	C	-2.78%
LBPH	A	-2.78%
MGRC	B	-2.75%
FYBR	C	-2.53%
ENV	B	-2.38%
SRDX	C	-2.29%
IBTX	B	-2.21%
RCM	A	-2.07%
MRO	A	-2.03%
WSC	F	--1.0%
COP	B	--2.02%
SNPS	C	--2.21%
SSB	B	--2.22%
CVX	A	--3.56%
SLB	C	--4.15%
UMBF	B	--8.33%