FELC vs. FWD ETF Comparison

Comparison of Fidelity Enhanced Large Cap Core ETF (FELC) to AB Disruptors ETF (FWD)

FELC

Fidelity Enhanced Large Cap Core ETF

FELC Description

The fund will normally invest at least 80% of assets in common stocks included in the S&P 500® Index, which is a market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance. The adviser will generally use computer-aided, quantitative analysis of historical valuation, growth, profitability, and other factors to select a broadly diversified group of stocks that may have the potential to provide a higher total return than that of the index. It will invest in domestic and foreign issuers.

Grade (RS Rating)

Last Trade

$33.43

Average Daily Volume

581,796

Number of Holdings ^*

170

* may have additional holdings in another (foreign) market

FWD

AB Disruptors ETF

FWD Description

FWD seeks capital growth by actively investing in companies globally, believed to be at the forefront of innovative growth trends. The funds adviser considers such companies as market disrupters. Many may utilize technology to enhance or create new demand for their product or service. The selection process combines a top-down evaluation of macroeconomic growth trends with fundamental, bottom-up analysis of individual companies. Factors such as current and projected profitability, pricing power, competitiveness, technological superiority, and management robustness of a company are considered. Targeted themes may include cloud infrastructure & AI, energy transition, transportation & logistics, medical innovation, digital transactions & media, and industrial innovation. The resulting portfolio of 80-120 stocks is considered non-diversified and may heavily focus on industries within the Information Technology sector.

Grade (RS Rating)

Last Trade

$83.95

Average Daily Volume

20,955

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FELC	FWD
30 Days	3.27%	6.41%
60 Days	5.09%	8.28%
90 Days	6.09%	8.11%
12 Months	33.74%	46.37%

29 Overlapping Holdings

Symbol	Grade	Weight in FELC	Weight in FWD	Overlap
ABBV	D	1.02%	0.73%	0.73%
ABT	B	0.56%	0.52%	0.52%
ADBE	C	0.94%	0.71%	0.71%
AMAT	F	0.68%	0.87%	0.68%
AMZN	C	3.93%	1.73%	1.73%
ANET	C	0.11%	1.53%	0.11%
AVGO	D	1.72%	1.29%	1.29%
BKNG	A	0.13%	0.63%	0.13%
CAT	B	0.57%	0.98%	0.57%
DASH	A	0.18%	1.06%	0.18%
FTNT	C	0.15%	1.15%	0.15%
GOOGL	C	2.05%	1.3%	1.3%
HWM	A	0.1%	1.21%	0.1%
LLY	F	0.76%	0.76%	0.76%
LRCX	F	0.44%	0.94%	0.44%
META	D	2.89%	1.41%	1.41%
MSFT	F	5.68%	0.7%	0.7%
MU	D	0.66%	1.01%	0.66%
NEE	D	0.84%	0.79%	0.79%
NFLX	A	1.3%	1.54%	1.3%
NOW	A	0.55%	0.55%	0.55%
NVDA	C	7.39%	5.29%	5.29%
ORCL	B	0.05%	1.81%	0.05%
SYK	C	0.03%	0.81%	0.03%
TMO	F	0.33%	0.58%	0.33%
TSLA	B	1.31%	3.08%	1.31%
TT	A	0.52%	1.05%	0.52%
UBER	D	0.14%	0.52%	0.14%
VST	B	0.12%	2.35%	0.12%

FELC Overweight 141 Positions Relative to FWD

Symbol	Grade	Weight
AAPL	C	7.38%
BRK.A	B	2.25%
JPM	A	1.94%
GOOG	C	1.9%
XOM	B	1.56%
MA	C	1.36%
HD	A	1.29%
BAC	A	1.2%
CRM	B	1.15%
WMT	A	1.14%
MRK	F	0.99%
PM	B	0.94%
QCOM	F	0.88%
CMCSA	B	0.86%
V	A	0.82%
SCHW	B	0.8%
UNP	C	0.76%
BMY	B	0.75%
JNJ	D	0.74%
GILD	C	0.74%
PGR	A	0.74%
T	A	0.73%
PG	A	0.72%
LMT	D	0.71%
RTX	C	0.7%
CTAS	B	0.69%
CSCO	B	0.66%
DIS	B	0.65%
ECL	D	0.63%
KLAC	D	0.63%
CI	F	0.63%
BDX	F	0.62%
NOC	D	0.6%
TJX	A	0.59%
SPG	B	0.59%
SQ	B	0.58%
UNH	C	0.57%
CVNA	B	0.55%
EOG	A	0.54%
CSX	B	0.54%
DVN	F	0.53%
PCAR	B	0.52%
TXT	D	0.52%
DBX	B	0.52%
ZM	B	0.51%
MSI	B	0.5%
CME	A	0.5%
CL	D	0.47%
IGT	F	0.46%
EXEL	B	0.45%
TRV	B	0.43%
ANF	C	0.42%
PFE	D	0.42%
CACI	D	0.4%
GE	D	0.39%
SSNC	B	0.38%
NSC	B	0.38%
TDC	D	0.37%
AON	A	0.35%
CMG	B	0.35%
PYPL	B	0.34%
MSCI	C	0.33%
ALLE	D	0.33%
AMGN	D	0.33%
WM	A	0.32%
SPGI	C	0.31%
MS	A	0.31%
TMUS	B	0.31%
COST	B	0.31%
CAH	B	0.31%
AXP	A	0.31%
TROW	B	0.31%
PPG	F	0.3%
SEIC	B	0.3%
MGM	D	0.3%
MMC	B	0.29%
INCY	C	0.28%
CCL	B	0.26%
CVS	D	0.25%
LDOS	C	0.24%
AMT	D	0.24%
RSG	A	0.24%
SKYW	B	0.23%
GAP	C	0.22%
GRMN	B	0.22%
IDXX	F	0.22%
LHX	C	0.21%
LYFT	C	0.21%
GL	B	0.21%
MEDP	D	0.21%
ADP	B	0.2%
ALRM	C	0.2%
NUE	C	0.2%
OXY	D	0.19%
WDAY	B	0.16%
GS	A	0.15%
ED	D	0.15%
WTW	B	0.14%
MMM	D	0.13%
TWLO	A	0.13%
UNM	A	0.12%
PNC	B	0.12%
QRVO	F	0.12%
NBIX	C	0.11%
NRG	B	0.11%
CLX	B	0.11%
BK	A	0.11%
F	C	0.11%
BLD	D	0.11%
LNW	D	0.11%
BBWI	D	0.11%
BIIB	F	0.1%
PEGA	A	0.1%
WFC	A	0.1%
PSA	D	0.09%
SOLV	C	0.09%
VEEV	C	0.08%
MKL	A	0.08%
FR	C	0.08%
ZBRA	B	0.06%
MCK	B	0.06%
DHI	D	0.06%
STLD	B	0.06%
VZ	C	0.06%
AXTA	A	0.05%
SCCO	F	0.05%
PEP	F	0.05%
PLTK	B	0.04%
ROST	C	0.04%
GEHC	F	0.04%
KR	B	0.03%
SWKS	F	0.03%
A	D	0.03%
CRUS	D	0.03%
LPLA	A	0.03%
GPN	B	0.02%
C	A	0.02%
DOCU	A	0.02%
WBD	C	0.01%
AES	F	0.01%
CVX	A	0.01%

FELC Underweight 50 Positions Relative to FWD

Symbol	Grade	Weight
GEV	B	-2.15%
VRT	B	-1.67%
ISRG	A	-1.62%
BSX	B	-1.56%
TXN	C	-1.51%
SHOP	B	-1.39%
PLTR	B	-1.33%
SPOT	B	-1.16%
EPAM	C	-1.14%
CRWD	B	-1.11%
ETN	A	-1.09%
APO	B	-1.09%
COHR	B	-1.06%
TTD	B	-1.05%
MRVL	B	-1.02%
DDOG	A	-0.99%
ON	D	-0.98%
IOT	A	-0.98%
TEAM	A	-0.95%
LSCC	D	-0.94%
TER	D	-0.93%
ARM	D	-0.91%
MDB	C	-0.91%
WAB	B	-0.86%
BKR	B	-0.85%
GWRE	A	-0.79%
CIEN	B	-0.74%
FROG	C	-0.74%
MNDY	C	-0.74%
SNPS	B	-0.72%
RBLX	C	-0.72%
AMD	F	-0.7%
LITE	B	-0.66%
AFRM	B	-0.66%
SLAB	D	-0.65%
HUBS	A	-0.65%
ADI	D	-0.63%
MELI	D	-0.62%
ILMN	D	-0.56%
GTLB	B	-0.53%
RDDT	B	-0.53%
CRL	C	-0.5%
BSY	D	-0.48%
CFLT	B	-0.48%
ABNB	C	-0.46%
IPGP	D	-0.44%
IQV	D	-0.43%
FCX	D	-0.42%
RGEN	D	-0.41%
Z	A	-0.4%