FELC vs. TVAL ETF Comparison

Comparison of Fidelity Enhanced Large Cap Core ETF (FELC) to T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Value ETF (TVAL)

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

TVAL

T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Value ETF

TVAL Description

The fund will invest primarily in U.S. equity securities. In taking a value approach to investment selection, the adviser seeks to identify companies that appear to be undervalued by various measures, and may be temporarily out of favor, but have good prospects for capital appreciation. Some of the principal measures used to identify such stocks are: price/earnings ratio, price/book value ratio, price/sales ratio, dividend yield, price/cash flow, undervalued assets, and restructuring opportunities. The fund may purchase the stocks of companies of any size, but typically focuses on larger companies.

Grade (RS Rating)

Last Trade

$33.11

Average Daily Volume

13,066

Number of Holdings ^*

144

* may have additional holdings in another (foreign) market

Performance

Period	FELC	TVAL
30 Days	3.27%	2.98%
60 Days	5.09%	4.22%
90 Days	6.09%	5.88%
12 Months	33.74%	29.14%

56 Overlapping Holdings

Symbol	Grade	Weight in FELC	Weight in TVAL	Overlap
A	D	0.03%	0.33%	0.03%
ABBV	D	1.02%	0.36%	0.36%
AMAT	F	0.68%	0.38%	0.38%
AXP	A	0.31%	0.26%	0.26%
BAC	A	1.2%	1.89%	1.2%
BDX	F	0.62%	1.01%	0.62%
C	A	0.02%	0.81%	0.02%
CAT	B	0.57%	0.3%	0.3%
CI	F	0.63%	0.87%	0.63%
CL	D	0.47%	0.84%	0.47%
CMCSA	B	0.86%	0.46%	0.46%
CME	A	0.5%	0.23%	0.23%
CSX	B	0.54%	0.49%	0.49%
CVS	D	0.25%	0.23%	0.23%
CVX	A	0.01%	0.73%	0.01%
DIS	B	0.65%	0.2%	0.2%
EOG	A	0.54%	0.82%	0.54%
GE	D	0.39%	1.21%	0.39%
GOOG	C	1.9%	0.95%	0.95%
HD	A	1.29%	0.63%	0.63%
HWM	A	0.1%	0.48%	0.1%
JNJ	D	0.74%	1.82%	0.74%
JPM	A	1.94%	1.23%	1.23%
LHX	C	0.21%	1.36%	0.21%
LLY	F	0.76%	1.19%	0.76%
MCK	B	0.06%	0.8%	0.06%
META	D	2.89%	0.87%	0.87%
MGM	D	0.3%	0.24%	0.24%
MMC	B	0.29%	0.67%	0.29%
MRK	F	0.99%	0.8%	0.8%
MS	A	0.31%	0.56%	0.31%
MSFT	F	5.68%	0.65%	0.65%
MSI	B	0.5%	0.34%	0.34%
MU	D	0.66%	0.45%	0.45%
NEE	D	0.84%	0.59%	0.59%
NSC	B	0.38%	0.74%	0.38%
PG	A	0.72%	0.72%	0.72%
PGR	A	0.74%	0.48%	0.48%
PM	B	0.94%	1.41%	0.94%
PSA	D	0.09%	0.44%	0.09%
QCOM	F	0.88%	1.08%	0.88%
RSG	A	0.24%	0.62%	0.24%
SCHW	B	0.8%	0.89%	0.8%
SPGI	C	0.31%	0.26%	0.26%
STLD	B	0.06%	0.32%	0.06%
TJX	A	0.59%	0.29%	0.29%
TMO	F	0.33%	1.12%	0.33%
TMUS	B	0.31%	0.88%	0.31%
TT	A	0.52%	0.31%	0.31%
UNH	C	0.57%	1.9%	0.57%
UNP	C	0.76%	0.42%	0.42%
VST	B	0.12%	0.74%	0.12%
VZ	C	0.06%	0.58%	0.06%
WFC	A	0.1%	1.77%	0.1%
WMT	A	1.14%	1.89%	1.14%
XOM	B	1.56%	2.56%	1.56%

FELC Overweight 114 Positions Relative to TVAL

Symbol	Grade	Weight
NVDA	C	7.39%
AAPL	C	7.38%
AMZN	C	3.93%
BRK.A	B	2.25%
GOOGL	C	2.05%
AVGO	D	1.72%
MA	C	1.36%
TSLA	B	1.31%
NFLX	A	1.3%
CRM	B	1.15%
ADBE	C	0.94%
V	A	0.82%
BMY	B	0.75%
GILD	C	0.74%
T	A	0.73%
LMT	D	0.71%
RTX	C	0.7%
CTAS	B	0.69%
CSCO	B	0.66%
ECL	D	0.63%
KLAC	D	0.63%
NOC	D	0.6%
SPG	B	0.59%
SQ	B	0.58%
ABT	B	0.56%
CVNA	B	0.55%
NOW	A	0.55%
DVN	F	0.53%
PCAR	B	0.52%
TXT	D	0.52%
DBX	B	0.52%
ZM	B	0.51%
IGT	F	0.46%
EXEL	B	0.45%
LRCX	F	0.44%
TRV	B	0.43%
ANF	C	0.42%
PFE	D	0.42%
CACI	D	0.4%
SSNC	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%
COST	B	0.31%
CAH	B	0.31%
TROW	B	0.31%
PPG	F	0.3%
SEIC	B	0.3%
INCY	C	0.28%
CCL	B	0.26%
LDOS	C	0.24%
AMT	D	0.24%
SKYW	B	0.23%
GAP	C	0.22%
GRMN	B	0.22%
IDXX	F	0.22%
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%
DASH	A	0.18%
WDAY	B	0.16%
FTNT	C	0.15%
GS	A	0.15%
ED	D	0.15%
UBER	D	0.14%
WTW	B	0.14%
MMM	D	0.13%
BKNG	A	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%
ANET	C	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%
SOLV	C	0.09%
VEEV	C	0.08%
MKL	A	0.08%
FR	C	0.08%
ZBRA	B	0.06%
DHI	D	0.06%
ORCL	B	0.05%
AXTA	A	0.05%
SCCO	F	0.05%
PEP	F	0.05%
PLTK	B	0.04%
ROST	C	0.04%
GEHC	F	0.04%
SYK	C	0.03%
KR	B	0.03%
SWKS	F	0.03%
CRUS	D	0.03%
LPLA	A	0.03%
GPN	B	0.02%
DOCU	A	0.02%
WBD	C	0.01%
AES	F	0.01%

FELC Underweight 88 Positions Relative to TVAL

Symbol	Grade	Weight
CB	C	-2.23%
HIG	B	-1.96%
ELV	F	-1.81%
SO	D	-1.67%
FI	A	-1.53%
KVUE	A	-1.49%
COP	C	-1.25%
AVB	B	-1.22%
SWK	D	-1.1%
CMI	A	-1.09%
EQH	B	-1.0%
WY	D	-0.88%
AIG	B	-0.87%
ZBH	C	-0.85%
FITB	A	-0.77%
NWSA	B	-0.75%
LIN	D	-0.73%
KO	D	-0.72%
TXN	C	-0.7%
HUBB	B	-0.7%
ACN	C	-0.7%
GEV	B	-0.7%
TTE	F	-0.7%
HON	B	-0.68%
SRE	A	-0.68%
KMB	D	-0.66%
AEE	A	-0.65%
DHR	F	-0.65%
IP	B	-0.64%
WDC	D	-0.6%
USB	A	-0.56%
BA	F	-0.56%
D	C	-0.55%
AZO	C	-0.52%
RPM	A	-0.52%
ROK	B	-0.52%
CF	B	-0.52%
BAX	D	-0.5%
REXR	F	-0.48%
AZN	D	-0.47%
MAR	B	-0.47%
WMB	A	-0.46%
EQT	B	-0.46%
MCD	D	-0.46%
APO	B	-0.46%
TDG	D	-0.46%
HBAN	A	-0.45%
ARES	A	-0.45%
HCA	F	-0.45%
BLK	C	-0.43%
FANG	D	-0.43%
MDLZ	F	-0.43%
REGN	F	-0.42%
CPAY	A	-0.42%
LEN	D	-0.42%
LVS	C	-0.41%
LAMR	D	-0.4%
KDP	D	-0.4%
CAG	D	-0.4%
TSM	B	-0.39%
ALL	A	-0.39%
YUM	B	-0.36%
BKR	B	-0.35%
KEYS	A	-0.35%
ADI	D	-0.35%
PLD	D	-0.34%
EFX	F	-0.33%
COF	B	-0.33%
UAL	A	-0.31%
AME	A	-0.31%
OTIS	C	-0.3%
VRTX	F	-0.29%
ROP	B	-0.29%
MOH	F	-0.28%
UPS	C	-0.28%
CARR	D	-0.27%
MCHP	D	-0.27%
CDW	F	-0.25%
ZTS	D	-0.23%
HAL	C	-0.22%
VMC	B	-0.22%
AMD	F	-0.22%
MET	A	-0.22%
BHP	F	-0.2%
AVY	D	-0.19%
SNY	F	-0.19%
DTE	C	-0.17%
EQIX	A	-0.16%