FDWM vs. BOUT ETF Comparison

Comparison of Fidelity Women's Leadership ETF (FDWM) to Innovator IBD Breakout Opportunities ETF (BOUT)

FDWM

Fidelity Women's Leadership ETF

FDWM Description

The investment seeks long-term growth of capital. The Advisor normally invests at least 80% of assets in equity securities of companies that prioritize and advance women's leadership and development. The Adviser may invest the fund's assets in securities of foreign issuers in addition to securities of domestic issuers. The fund may invest a significant percentage of its assets in relatively few companies and may invest up to 25% in a single company. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$22.86

Average Daily Volume

509

Number of Holdings ^*

101

* may have additional holdings in another (foreign) market

BOUT

Innovator IBD Breakout Opportunities ETF

BOUT Description

The investment seeks to track, before fees and expenses, the performance of the IBD® Breakout Stocks Index (the "index"). The fund will normally invest at least 80% of its net assets (including investment borrowings) in the equity securities that comprise the index. The index seeks to provide opportunistic investment exposure to those stocks with the potential to "break out," or experience a period of sustained price growth beyond the stock's recent "resistance level," with consideration for various market conditions. The fund is non-diversified. BOUT uses technical analysis to find stocks that are likely to breakout. The funds index relies on an algorithm that establishes a base price (a recent high) for each eligible security. The index then follows the trend for each stock. Selected stocks are ranked by a combination of relative strength and fundamental factors, and then weighted in fixed tiers according to this ranking. In addition, BOUT will move 50% of its portfolio into T-bills based on market signals: a rapid increase in either margin debt or overall stock prices, combined with slowing reversing momentum in the S&P 500. The T-bill position will remain in place until the S&P 500 falls by 50% or show indications of rising momentum. BOUT is rebalanced and reconstituted weekly after the close on Friday. The frequent rebalance schedule means the fund will be highly responsive to the technical factors that drive its strategy, but could also experience high turnover.

Grade (RS Rating)

Last Trade

$36.42

Average Daily Volume

1,101

Number of Holdings ^*

126

* may have additional holdings in another (foreign) market

Performance

Period	FDWM	BOUT
30 Days	1.29%	0.28%
60 Days	2.22%	1.83%
90 Days	3.04%	3.97%
12 Months	23.36%	17.55%

9 Overlapping Holdings

Symbol	Grade	Weight in FDWM	Weight in BOUT	Overlap
ADBE	D	1.46%	1.97%	1.46%
ALNY	B	0.9%	1.35%	0.9%
ELF	F	0.45%	0.32%	0.32%
INTU	D	0.92%	0.67%	0.67%
NFLX	B	0.61%	0.66%	0.61%
NXPI	D	1.26%	2.33%	1.26%
OLED	C	0.63%	2.02%	0.63%
PGR	A	1.51%	2.32%	1.51%
PINS	F	0.4%	0.31%	0.31%

FDWM Overweight 92 Positions Relative to BOUT

Symbol	Grade	Weight
AMZN	C	4.37%
AAPL	D	4.14%
MSFT	C	3.68%
NVDA	D	3.24%
GOOG	D	2.8%
ACN	C	1.96%
DIS	D	1.95%
HOLX	B	1.82%
CI	C	1.76%
CRM	D	1.59%
JPM	D	1.57%
ANET	B	1.32%
HIG	A	1.31%
CDW	D	1.23%
CNC	C	1.19%
BAC	D	1.17%
HUBS	D	1.17%
NEE	B	1.16%
BKR	D	1.15%
AMD	F	1.08%
MA	B	1.06%
C	D	1.05%
MRVL	C	1.04%
VTR	C	1.02%
MMC	C	0.97%
ELV	C	0.97%
PODD	B	0.95%
NVT	D	0.95%
MU	F	0.95%
TMHC	B	0.91%
NDAQ	B	0.91%
WEX	C	0.89%
FDX	C	0.88%
FSLR	C	0.88%
SWX	C	0.87%
LDOS	C	0.86%
DE	B	0.85%
LOW	B	0.85%
FSS	D	0.82%
NSIT	C	0.82%
PH	B	0.8%
FIS	B	0.78%
ETSY	F	0.77%
UPS	D	0.76%
HLT	B	0.75%
ZTS	B	0.74%
GM	B	0.72%
ICLR	D	0.72%
CBT	B	0.72%
GEV	B	0.7%
MRK	D	0.7%
RRX	C	0.7%
AR	D	0.69%
CLX	C	0.69%
HBAN	B	0.68%
OTIS	D	0.67%
OXY	F	0.67%
BALL	C	0.67%
SAIC	C	0.66%
VRTX	D	0.65%
GSK	C	0.65%
RUN	C	0.64%
SUM	C	0.63%
WSM	C	0.62%
CE	D	0.61%
SBUX	C	0.61%
AMN	F	0.59%
EMN	B	0.59%
EL	F	0.58%
USB	B	0.57%
BBY	B	0.57%
ETN	C	0.56%
ATI	C	0.54%
MRNA	F	0.53%
WRBY	D	0.53%
HSY	C	0.53%
BG	D	0.53%
MAN	C	0.51%
EQT	D	0.51%
MTN	D	0.47%
TPR	C	0.45%
ULTA	D	0.44%
VLTO	C	0.42%
EXAS	C	0.42%
ARCB	D	0.41%
PDFS	D	0.34%
GAP	F	0.27%
SEDG	F	0.27%
RDUS	D	0.25%
ZLAB	C	0.25%
NKE	D	0.24%
SAGE	F	0.13%

FDWM Underweight 117 Positions Relative to BOUT

Symbol	Grade	Weight
FFTY	C	-8.0%
MELI	B	-2.45%
KLAC	D	-2.39%
VIK	D	-2.36%
SPGI	B	-2.36%
PACS	B	-2.36%
QRVO	F	-2.35%
AHR	B	-2.34%
NVS	C	-2.33%
IDCC	B	-2.33%
CHKP	C	-2.33%
NEM	B	-2.29%
MWA	C	-2.28%
SWI	B	-2.24%
MS	D	-2.06%
GS	D	-2.05%
MPWR	C	-2.03%
AXP	B	-2.01%
AX	D	-2.01%
PPC	D	-1.99%
ISRG	C	-1.99%
FANG	D	-1.99%
MOD	C	-1.98%
MMM	B	-1.97%
KNTK	B	-1.97%
PSN	B	-1.95%
IOT	A	-1.91%
RSG	D	-1.34%
ROST	C	-1.34%
NMIH	B	-1.34%
AEM	B	-1.33%
GOOGL	D	-1.32%
WFRD	F	-1.31%
HLNE	B	-1.31%
EHC	B	-1.31%
ATGE	D	-1.31%
PANW	D	-1.3%
NVO	D	-1.3%
MANH	B	-1.3%
AAON	B	-1.28%
NOW	A	-1.23%
NBIX	F	-0.69%
ANF	D	-0.69%
PSTG	F	-0.68%
HALO	B	-0.68%
BKNG	B	-0.68%
PLTR	B	-0.67%
DSGX	C	-0.67%
VNOM	C	-0.66%
MPLX	A	-0.66%
GMED	D	-0.66%
CYBR	D	-0.66%
AROC	C	-0.66%
VRNS	C	-0.63%
MMYT	B	-0.33%
AMSC	D	-0.33%
CLS	D	-0.32%
SRPT	F	-0.31%
IBKR	B	-0.31%
HESM	C	-0.31%
GRMN	D	-0.31%
FN	D	-0.31%
CRWD	F	-0.31%
ARM	D	-0.31%
ARIS	C	-0.31%
ALKT	D	-0.31%
DDOG	D	-0.3%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%
FFTY	C	-0.0%