FDFF vs. SEF ETF Comparison

Comparison of Fidelity Disruptive Finance ETF (FDFF) to ProShares Short Financials (SEF)

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

$37.70

Average Daily Volume

2,380

Number of Holdings ^*

* may have additional holdings in another (foreign) market

SEF

ProShares Short Financials

SEF Description

The investment seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the Dow Jones U.S. FinancialsSM Index. The fund invests in derivatives that ProShare Advisors believes, in combination, should have similar daily return characteristics as the inverse (-1x) of the daily return of the index. The index measures the performance of the financial services sector of the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$34.58

Average Daily Volume

11,897

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FDFF	SEF
30 Days	9.01%	-5.84%
60 Days	14.00%	-8.90%
90 Days	16.82%	-10.72%
12 Months	43.70%	-25.91%

8 Overlapping Holdings

Symbol	Grade	Weight in FDFF	Weight in SEF	Overlap
ALLY	C	0.85%	0.19%	0.19%
BLK	B	5.78%	1.06%	1.06%
COF	C	5.03%	0.81%	0.81%
ICE	C	2.9%	0.91%	0.91%
MA	B	5.06%	4.83%	4.83%
MKTX	D	1.16%	0.24%	0.24%
MSCI	C	1.06%	0.4%	0.4%
V	A	5.36%	5.88%	5.36%

FDFF Overweight 25 Positions Relative to SEF

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

FDFF Underweight 89 Positions Relative to SEF

Symbol	Grade	Weight
BRK.A	B	-7.56%
JPM	A	-7.27%
BAC	A	-4.46%
WFC	A	-3.19%
C	A	-2.98%
AMT	C	-1.74%
AXP	A	-1.49%
GS	A	-1.34%
USB	A	-1.32%
TFC	A	-1.27%
CME	B	-1.25%
SPGI	C	-1.22%
MS	A	-1.19%
CB	C	-1.17%
PNC	B	-1.13%
CCI	C	-1.02%
PLD	F	-1.0%
MMC	B	-0.97%
SCHW	B	-0.93%
EQIX	A	-0.84%
AON	A	-0.83%
AIG	B	-0.77%
SPG	A	-0.76%
PGR	A	-0.75%
MCO	B	-0.7%
MET	A	-0.69%
BX	A	-0.67%
PRU	A	-0.66%
AFL	B	-0.66%
BK	A	-0.65%
ALL	A	-0.64%
TRV	B	-0.61%
WELL	A	-0.59%
PSA	C	-0.56%
TROW	B	-0.52%
AVB	B	-0.51%
STT	B	-0.5%
SBAC	D	-0.48%
EQR	C	-0.48%
DLR	B	-0.44%
WTW	B	-0.44%
DFS	B	-0.44%
O	C	-0.42%
CSGP	D	-0.4%
WY	F	-0.39%
NTRS	A	-0.39%
AMP	A	-0.37%
VTR	B	-0.37%
HIG	B	-0.37%
SYF	B	-0.36%
MTB	A	-0.36%
FITB	B	-0.35%
BXP	C	-0.34%
CBRE	B	-0.34%
ESS	B	-0.34%
ARE	F	-0.32%
KEY	B	-0.32%
ACGL	C	-0.31%
CFG	B	-0.3%
DOC	C	-0.3%
AJG	A	-0.3%
INVH	D	-0.28%
MKL	A	-0.28%
RF	A	-0.27%
CINF	A	-0.27%
HBAN	A	-0.26%
MAA	B	-0.26%
PFG	D	-0.25%
WPC	C	-0.24%
SUI	C	-0.24%
EXR	C	-0.24%
L	A	-0.23%
NLY	C	-0.23%
UDR	B	-0.23%
HST	C	-0.22%
ELS	C	-0.22%
FNF	B	-0.22%
NDAQ	A	-0.21%
RJF	A	-0.2%
LNC	C	-0.2%
EG	C	-0.19%
MPW	F	-0.19%
EQH	C	-0.19%
GL	C	-0.18%
FDS	B	-0.18%
REG	A	-0.18%
VNO	C	-0.18%
CPT	B	-0.18%
WRB	A	-0.17%