FELV vs. PAPI ETF Comparison

Comparison of Fidelity Enhanced Large Cap Value ETF (FELV) to Parametric Equity Premium Income ETF (PAPI)

FELV

Fidelity Enhanced Large Cap Value ETF

FELV Description

The fund will normally invest at least 80% of assets in common stocks included in the Russell 1000® Value Index, which is a market capitalization-weighted index designed to measure the performance of the large-cap value segment of the U.S. equity market. 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

$32.56

Average Daily Volume

106,908

Number of Holdings ^*

332

* may have additional holdings in another (foreign) market

PAPI

Parametric Equity Premium Income ETF

PAPI Description

The fund is an actively managed exchange-traded fund. Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities. Equity securities in which the fund may invest include common stocks.

Grade (RS Rating)

Last Trade

$28.08

Average Daily Volume

33,669

Number of Holdings ^*

189

* may have additional holdings in another (foreign) market

Performance

Period	FELV	PAPI
30 Days	4.38%	3.08%
60 Days	5.85%	3.73%
90 Days	7.57%	4.88%
12 Months	29.90%	19.25%

79 Overlapping Holdings

Symbol	Grade	Weight in FELV	Weight in PAPI	Overlap
ABBV	D	0.85%	0.46%	0.46%
ABT	B	0.54%	0.52%	0.52%
ACN	C	0.34%	0.5%	0.34%
ADI	D	0.04%	0.48%	0.04%
ADM	D	0.1%	0.47%	0.1%
ADP	B	0.1%	0.54%	0.1%
AEP	D	0.08%	0.5%	0.08%
AM	A	0.04%	0.53%	0.04%
BBY	D	0.15%	0.49%	0.15%
BDX	F	0.74%	0.5%	0.5%
BKR	B	0.1%	0.62%	0.1%
CAH	B	0.3%	0.56%	0.3%
CI	F	0.6%	0.47%	0.47%
CINF	A	0.22%	0.58%	0.22%
CMCSA	B	1.13%	0.54%	0.54%
CME	A	0.57%	0.52%	0.52%
CMI	A	0.34%	0.57%	0.34%
COP	C	0.56%	0.56%	0.56%
CSCO	B	1.07%	0.54%	0.54%
CTRA	B	0.05%	0.57%	0.05%
CVX	A	0.53%	0.57%	0.53%
DD	D	0.48%	0.51%	0.48%
DGX	A	0.01%	0.57%	0.01%
DHR	F	0.17%	0.45%	0.17%
DUK	C	0.28%	0.5%	0.28%
DVN	F	0.34%	0.5%	0.34%
EA	A	0.11%	0.59%	0.11%
ED	D	0.22%	0.48%	0.22%
ELV	F	0.11%	0.43%	0.11%
EOG	A	0.53%	0.56%	0.53%
EVRG	A	0.35%	0.55%	0.35%
GD	F	0.14%	0.5%	0.14%
GILD	C	0.92%	0.53%	0.53%
GLW	B	0.01%	0.53%	0.01%
GRMN	B	0.11%	0.65%	0.11%
HPE	B	0.21%	0.53%	0.21%
IBM	C	0.27%	0.46%	0.27%
INGR	B	0.04%	0.55%	0.04%
JCI	C	0.21%	0.58%	0.21%
JNJ	D	1.02%	0.5%	0.5%
KHC	F	0.12%	0.46%	0.12%
KMB	D	0.14%	0.49%	0.14%
KMI	A	0.24%	0.58%	0.24%
LH	C	0.08%	0.57%	0.08%
LHX	C	0.45%	0.53%	0.45%
LIN	D	0.46%	0.49%	0.46%
MDT	D	0.4%	0.51%	0.4%
MO	A	0.28%	0.59%	0.28%
NEM	D	0.05%	0.38%	0.05%
OGE	B	0.06%	0.55%	0.06%
PEG	A	0.1%	0.52%	0.1%
PFE	D	0.85%	0.44%	0.44%
PFG	D	0.16%	0.5%	0.16%
PG	A	1.24%	0.52%	0.52%
PKG	A	0.13%	0.56%	0.13%
PM	B	1.31%	0.56%	0.56%
PPG	F	0.57%	0.49%	0.49%
PRU	A	0.17%	0.53%	0.17%
QCOM	F	0.5%	0.49%	0.49%
ROP	B	0.01%	0.52%	0.01%
RTX	C	0.7%	0.5%	0.5%
SO	D	0.12%	0.5%	0.12%
SON	D	0.01%	0.49%	0.01%
SWKS	F	0.13%	0.45%	0.13%
SYK	C	0.26%	0.57%	0.26%
T	A	1.02%	0.55%	0.55%
TAP	C	0.16%	0.59%	0.16%
TJX	A	0.28%	0.54%	0.28%
TROW	B	0.13%	0.56%	0.13%
TRV	B	0.28%	0.57%	0.28%
TXN	C	0.16%	0.53%	0.16%
UNH	C	1.57%	0.55%	0.55%
UNM	A	0.38%	0.61%	0.38%
UPS	C	0.06%	0.52%	0.06%
VZ	C	0.68%	0.5%	0.5%
WMB	A	0.12%	0.58%	0.12%
WMT	A	1.76%	0.54%	0.54%
XEL	A	0.25%	0.57%	0.25%
XOM	B	2.51%	0.52%	0.52%

FELV Overweight 253 Positions Relative to PAPI

Symbol	Grade	Weight
BRK.A	B	3.64%
JPM	A	2.93%
BAC	A	1.77%
WFC	A	1.22%
GE	D	1.05%
SCHW	B	0.88%
MU	D	0.86%
INTC	D	0.85%
BMY	B	0.84%
NEE	D	0.81%
DIS	B	0.8%
PYPL	B	0.79%
ETN	A	0.76%
UNP	C	0.75%
TMO	F	0.73%
SQ	B	0.7%
PNC	B	0.7%
RSG	A	0.66%
LMT	D	0.64%
NOC	D	0.63%
SPGI	C	0.63%
BK	A	0.63%
CVNA	B	0.62%
MMM	D	0.6%
AON	A	0.59%
SEIC	B	0.58%
CCI	D	0.57%
NSC	B	0.57%
TMUS	B	0.56%
CL	D	0.54%
CAT	B	0.54%
ALLE	D	0.54%
MS	A	0.54%
TXT	D	0.53%
ZM	B	0.52%
PSA	D	0.52%
TT	A	0.52%
ECL	D	0.5%
SSNC	B	0.5%
C	A	0.48%
LDOS	C	0.47%
COF	B	0.47%
CACI	D	0.46%
HD	A	0.45%
WAB	B	0.45%
CTAS	B	0.43%
DBX	B	0.42%
AMAT	F	0.42%
PCG	A	0.39%
PCAR	B	0.39%
MMC	B	0.38%
ADBE	C	0.37%
BLK	C	0.37%
IGT	F	0.36%
L	A	0.35%
PGR	A	0.35%
EXEL	B	0.35%
TPH	D	0.35%
BRX	A	0.35%
CSX	B	0.34%
NUE	C	0.34%
GS	A	0.34%
FTV	C	0.33%
LPX	B	0.33%
STLD	B	0.33%
F	C	0.33%
ZBRA	B	0.32%
KR	B	0.31%
CVS	D	0.3%
TWLO	A	0.3%
BIIB	F	0.3%
FR	C	0.28%
MCD	D	0.28%
VMC	B	0.28%
VEEV	C	0.28%
TOL	B	0.28%
MA	C	0.28%
GL	B	0.28%
GEV	B	0.28%
ANF	C	0.28%
TDC	D	0.27%
AME	A	0.26%
WTW	B	0.26%
VICI	C	0.25%
CLX	B	0.25%
GAP	C	0.25%
SEE	C	0.25%
FLS	B	0.25%
WM	A	0.25%
EXC	C	0.24%
TFC	A	0.24%
CNC	D	0.23%
Z	A	0.22%
DOCU	A	0.22%
OC	A	0.22%
CRM	B	0.22%
DOC	D	0.22%
INCY	C	0.22%
SKYW	B	0.21%
MGM	D	0.21%
META	D	0.21%
AXP	A	0.2%
VMI	B	0.2%
MSI	B	0.2%
EQIX	A	0.2%
PNR	A	0.19%
NFLX	A	0.19%
DTE	C	0.19%
USFD	A	0.19%
FTI	A	0.19%
ALL	A	0.19%
BSX	B	0.19%
MSCI	C	0.19%
AAPL	C	0.19%
KEY	B	0.18%
SPG	B	0.18%
ITT	A	0.18%
ICE	C	0.18%
TMHC	B	0.18%
ZG	A	0.18%
EIX	B	0.17%
NVDA	C	0.17%
IQV	D	0.17%
LNW	D	0.17%
MKL	A	0.17%
ACA	A	0.17%
CEG	D	0.17%
EQR	B	0.17%
GEHC	F	0.16%
QGEN	D	0.16%
MEDP	D	0.16%
CCK	C	0.16%
AES	F	0.16%
STT	A	0.15%
CNP	B	0.15%
ILMN	D	0.15%
JXN	C	0.15%
AMGN	D	0.15%
RCL	A	0.15%
OXY	D	0.15%
WDC	D	0.14%
AMT	D	0.14%
HUM	C	0.14%
HAL	C	0.13%
WDAY	B	0.13%
CCL	B	0.13%
ES	D	0.13%
PH	A	0.12%
SOLV	C	0.12%
NTAP	C	0.12%
ITW	B	0.12%
AVGO	D	0.12%
EEFT	B	0.12%
HWM	A	0.12%
UHS	D	0.12%
BLD	D	0.11%
AIZ	A	0.11%
QRVO	F	0.11%
ENS	D	0.11%
ROST	C	0.11%
BCC	B	0.11%
AMH	D	0.11%
BMRN	D	0.11%
TPR	B	0.1%
ADTN	A	0.1%
CRC	B	0.1%
MHO	D	0.1%
FANG	D	0.09%
A	D	0.09%
TRGP	B	0.09%
CNO	A	0.09%
MTDR	B	0.09%
WBD	C	0.09%
KD	B	0.09%
GPN	B	0.09%
ACT	D	0.09%
MCK	B	0.09%
VRTX	F	0.09%
CRUS	D	0.09%
AMZN	C	0.08%
TENB	C	0.08%
DASH	A	0.08%
MKC	D	0.08%
DELL	C	0.08%
HON	B	0.08%
BBWI	D	0.08%
IFF	D	0.08%
ALRM	C	0.08%
VST	B	0.07%
CMG	B	0.07%
REG	B	0.07%
BYD	C	0.07%
LYFT	C	0.07%
LOW	D	0.07%
WCC	B	0.07%
NWL	B	0.06%
NWSA	B	0.06%
EW	C	0.06%
LEG	F	0.06%
ARW	D	0.06%
VSTS	C	0.06%
MDLZ	F	0.06%
NMRK	B	0.06%
DFS	B	0.05%
TRMB	B	0.05%
SAM	C	0.05%
FHI	A	0.05%
GLPI	C	0.05%
CW	B	0.05%
PLTK	B	0.05%
GIS	D	0.05%
VLTO	D	0.04%
VAC	B	0.04%
CSGP	D	0.04%
HL	D	0.04%
CWEN	C	0.04%
BKH	A	0.04%
CTRE	D	0.04%
AXTA	A	0.03%
MSA	D	0.03%
SYF	B	0.03%
TFX	F	0.03%
KLAC	D	0.03%
UAL	A	0.03%
RGA	A	0.03%
EXTR	B	0.03%
WS	B	0.03%
RJF	A	0.03%
ALKS	B	0.03%
DHI	D	0.03%
NWS	B	0.03%
MATX	C	0.03%
AMD	F	0.02%
CWEN	C	0.02%
AYI	B	0.02%
SWI	B	0.02%
OKTA	C	0.02%
OGN	D	0.02%
BERY	B	0.02%
ITRI	B	0.02%
BIO	D	0.02%
WOOF	D	0.02%
MWA	B	0.01%
TNL	A	0.01%
TGT	F	0.01%
FTDR	A	0.01%
MUR	D	0.01%
PHM	D	0.01%
CXT	B	0.01%
BLDR	D	0.01%
ANSS	B	0.01%
AXS	A	0.01%
M	D	0.01%

FELV Underweight 110 Positions Relative to PAPI

Symbol	Grade	Weight
SNA	A	-0.63%
IP	B	-0.63%
DTM	B	-0.62%
EMR	A	-0.61%
OKE	A	-0.61%
IDCC	A	-0.61%
PINC	B	-0.6%
FOX	A	-0.59%
CFR	B	-0.59%
PB	A	-0.59%
IDA	A	-0.59%
JHG	A	-0.58%
WHR	B	-0.57%
RHI	B	-0.57%
SRE	A	-0.57%
RF	A	-0.57%
TXRH	C	-0.57%
FOXA	B	-0.57%
FAST	B	-0.56%
WSO	A	-0.56%
RS	B	-0.56%
VLO	C	-0.55%
PPL	B	-0.55%
DCI	B	-0.55%
GGG	B	-0.55%
GNTX	C	-0.54%
MOS	F	-0.54%
PAG	B	-0.54%
COR	B	-0.54%
OGS	A	-0.54%
ORI	A	-0.54%
COST	B	-0.54%
CHD	B	-0.54%
AFG	A	-0.54%
DRI	B	-0.54%
MTN	C	-0.54%
AEE	A	-0.54%
MSFT	F	-0.53%
CTSH	B	-0.53%
PAYX	C	-0.53%
ATO	A	-0.53%
MSM	C	-0.53%
COLM	B	-0.53%
HP	B	-0.52%
LNT	A	-0.52%
BMI	B	-0.52%
NFG	A	-0.52%
ATR	B	-0.52%
HPQ	B	-0.52%
EXPD	D	-0.52%
PSX	C	-0.52%
CHRD	D	-0.52%
WEC	A	-0.52%
POR	C	-0.51%
AVT	C	-0.51%
CALM	A	-0.51%
DLB	B	-0.51%
DINO	D	-0.51%
HIG	B	-0.51%
FNF	B	-0.51%
APD	A	-0.51%
LKQ	D	-0.51%
OXM	D	-0.51%
CTVA	C	-0.5%
POWI	D	-0.5%
NYT	C	-0.5%
FE	C	-0.5%
CCOI	B	-0.5%
SNX	C	-0.5%
RGLD	C	-0.5%
BG	F	-0.5%
D	C	-0.5%
MTG	C	-0.5%
AFL	B	-0.5%
DOX	D	-0.49%
OMC	C	-0.49%
CHE	D	-0.49%
FLO	D	-0.49%
JKHY	D	-0.49%
EMN	D	-0.49%
HRL	D	-0.49%
CAG	D	-0.48%
LYB	F	-0.48%
AOS	F	-0.48%
WEN	D	-0.48%
PEP	F	-0.48%
RPRX	D	-0.48%
LEA	D	-0.48%
WU	D	-0.48%
SHOO	D	-0.47%
AMCR	D	-0.47%
LEN	D	-0.47%
KDP	D	-0.46%
ASH	D	-0.46%
FMC	D	-0.46%
HAS	D	-0.46%
MRK	F	-0.46%
IPG	D	-0.45%
GPC	D	-0.45%
KO	D	-0.45%
ESNT	D	-0.45%
HUN	F	-0.44%
MAN	D	-0.44%
DOW	F	-0.44%
INSW	F	-0.44%
PII	D	-0.43%
CVI	F	-0.42%
CRI	D	-0.41%
HII	D	-0.39%
SCCO	F	-0.0%