FELV vs. RAVI ETF Comparison

Comparison of Fidelity Enhanced Large Cap Value ETF (FELV) to FlexShares Ready Access Variable Income Fund (RAVI)

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

$32.75

Average Daily Volume

106,908

Number of Holdings ^*

332

* may have additional holdings in another (foreign) market

RAVI

FlexShares Ready Access Variable Income Fund

RAVI Description

The investment seeks maximum current income consistent with the preservation of capital and liquidity. The fund seeks to achieve the investment objective by investing at least 65% of its total assets in a non-diversified portfolio of fixed income instruments, including bonds, debt securities and other similar instruments issued by U.S. and non-U.S. public and private sector entities. The dollar-weighted average portfolio maturity of the fund is normally not expected to exceed two years. It may invest up to 20% of its total assets in fixed income securities and instruments of issuers in emerging markets. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$75.46

Average Daily Volume

72,378

Number of Holdings ^*

101

* may have additional holdings in another (foreign) market

Performance

Period	FELV	RAVI
30 Days	4.38%	0.41%
60 Days	5.85%	0.65%
90 Days	7.57%	1.23%
12 Months	29.90%	5.45%

50 Overlapping Holdings

Symbol	Grade	Weight in FELV	Weight in RAVI	Overlap
ABBV	D	0.85%	0.13%	0.13%
AEP	D	0.08%	0.38%	0.08%
AMT	D	0.14%	0.13%	0.13%
AMZN	C	0.08%	0.42%	0.08%
AON	A	0.59%	0.46%	0.46%
BAC	A	1.77%	0.57%	0.57%
BDX	F	0.74%	0.51%	0.51%
BMY	B	0.84%	0.43%	0.43%
C	A	0.48%	0.24%	0.24%
CAT	B	0.54%	0.26%	0.26%
CCI	D	0.57%	0.49%	0.49%
CI	F	0.6%	0.67%	0.6%
CLX	B	0.25%	0.26%	0.25%
CMCSA	B	1.13%	0.28%	0.28%
CNP	B	0.15%	0.2%	0.15%
COF	B	0.47%	0.06%	0.06%
CRM	B	0.22%	0.4%	0.22%
CVS	D	0.3%	0.16%	0.16%
CVX	A	0.53%	0.33%	0.33%
DELL	C	0.08%	0.28%	0.08%
DHI	D	0.03%	0.13%	0.03%
DHR	F	0.17%	0.86%	0.17%
DTE	C	0.19%	0.77%	0.19%
DUK	C	0.28%	0.07%	0.07%
ED	D	0.22%	1.05%	0.22%
GE	D	1.05%	0.76%	0.76%
GILD	C	0.92%	0.59%	0.59%
GS	A	0.34%	0.26%	0.26%
HPE	B	0.21%	0.11%	0.11%
ICE	C	0.18%	0.15%	0.15%
JPM	A	2.93%	0.03%	0.03%
KEY	B	0.18%	0.16%	0.16%
MDLZ	F	0.06%	0.09%	0.06%
MKC	D	0.08%	0.17%	0.08%
MS	A	0.54%	0.06%	0.06%
NEE	D	0.81%	0.57%	0.57%
NVDA	C	0.17%	0.52%	0.17%
OGE	B	0.06%	0.39%	0.06%
PCAR	B	0.39%	0.05%	0.05%
PYPL	B	0.79%	0.95%	0.79%
ROP	B	0.01%	0.07%	0.01%
SCHW	B	0.88%	0.42%	0.42%
SO	D	0.12%	0.26%	0.12%
SYK	C	0.26%	0.49%	0.26%
T	A	1.02%	0.3%	0.3%
TFC	A	0.24%	0.59%	0.24%
UNH	C	1.57%	0.43%	0.43%
VZ	C	0.68%	0.1%	0.1%
WFC	A	1.22%	0.26%	0.26%
WM	A	0.25%	0.69%	0.25%

FELV Overweight 282 Positions Relative to RAVI

Symbol	Grade	Weight
BRK.A	B	3.64%
XOM	B	2.51%
WMT	A	1.76%
PM	B	1.31%
PG	A	1.24%
CSCO	B	1.07%
JNJ	D	1.02%
MU	D	0.86%
PFE	D	0.85%
INTC	D	0.85%
DIS	B	0.8%
ETN	A	0.76%
UNP	C	0.75%
TMO	F	0.73%
SQ	B	0.7%
PNC	B	0.7%
RTX	C	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%
SEIC	B	0.58%
PPG	F	0.57%
CME	A	0.57%
NSC	B	0.57%
TMUS	B	0.56%
COP	C	0.56%
ABT	B	0.54%
CL	D	0.54%
ALLE	D	0.54%
TXT	D	0.53%
EOG	A	0.53%
ZM	B	0.52%
PSA	D	0.52%
TT	A	0.52%
ECL	D	0.5%
QCOM	F	0.5%
SSNC	B	0.5%
DD	D	0.48%
LDOS	C	0.47%
CACI	D	0.46%
LIN	D	0.46%
LHX	C	0.45%
HD	A	0.45%
WAB	B	0.45%
CTAS	B	0.43%
DBX	B	0.42%
AMAT	F	0.42%
MDT	D	0.4%
PCG	A	0.39%
UNM	A	0.38%
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%
EVRG	A	0.35%
BRX	A	0.35%
CMI	A	0.34%
CSX	B	0.34%
ACN	C	0.34%
NUE	C	0.34%
DVN	F	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%
CAH	B	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%
MO	A	0.28%
TOL	B	0.28%
MA	C	0.28%
GL	B	0.28%
TRV	B	0.28%
GEV	B	0.28%
ANF	C	0.28%
TJX	A	0.28%
IBM	C	0.27%
TDC	D	0.27%
AME	A	0.26%
WTW	B	0.26%
VICI	C	0.25%
GAP	C	0.25%
XEL	A	0.25%
SEE	C	0.25%
FLS	B	0.25%
EXC	C	0.24%
KMI	A	0.24%
CNC	D	0.23%
CINF	A	0.22%
Z	A	0.22%
DOCU	A	0.22%
OC	A	0.22%
DOC	D	0.22%
INCY	C	0.22%
SKYW	B	0.21%
MGM	D	0.21%
META	D	0.21%
JCI	C	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%
USFD	A	0.19%
FTI	A	0.19%
ALL	A	0.19%
BSX	B	0.19%
MSCI	C	0.19%
AAPL	C	0.19%
SPG	B	0.18%
ITT	A	0.18%
TMHC	B	0.18%
ZG	A	0.18%
EIX	B	0.17%
PRU	A	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%
TAP	C	0.16%
QGEN	D	0.16%
MEDP	D	0.16%
TXN	C	0.16%
CCK	C	0.16%
AES	F	0.16%
PFG	D	0.16%
BBY	D	0.15%
STT	A	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%
KMB	D	0.14%
HUM	C	0.14%
GD	F	0.14%
HAL	C	0.13%
PKG	A	0.13%
WDAY	B	0.13%
SWKS	F	0.13%
CCL	B	0.13%
ES	D	0.13%
TROW	B	0.13%
PH	A	0.12%
SOLV	C	0.12%
NTAP	C	0.12%
ITW	B	0.12%
AVGO	D	0.12%
WMB	A	0.12%
EEFT	B	0.12%
HWM	A	0.12%
KHC	F	0.12%
UHS	D	0.12%
BLD	D	0.11%
AIZ	A	0.11%
QRVO	F	0.11%
EA	A	0.11%
ENS	D	0.11%
ROST	C	0.11%
BCC	B	0.11%
GRMN	B	0.11%
ELV	F	0.11%
AMH	D	0.11%
BMRN	D	0.11%
TPR	B	0.1%
ADTN	A	0.1%
ADM	D	0.1%
BKR	B	0.1%
CRC	B	0.1%
ADP	B	0.1%
PEG	A	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%
TENB	C	0.08%
DASH	A	0.08%
LH	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%
UPS	C	0.06%
LEG	F	0.06%
ARW	D	0.06%
VSTS	C	0.06%
NMRK	B	0.06%
DFS	B	0.05%
TRMB	B	0.05%
SAM	C	0.05%
CTRA	B	0.05%
FHI	A	0.05%
GLPI	C	0.05%
CW	B	0.05%
PLTK	B	0.05%
GIS	D	0.05%
NEM	D	0.05%
AM	A	0.04%
ADI	D	0.04%
VLTO	D	0.04%
INGR	B	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%
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%
DGX	A	0.01%
ANSS	B	0.01%
AXS	A	0.01%
SON	D	0.01%
GLW	B	0.01%
M	D	0.01%

FELV Underweight 51 Positions Relative to RAVI

Symbol	Grade	Weight
VLO	C	-1.51%
OGS	A	-1.05%
OTIS	C	-0.95%
KDP	D	-0.95%
LYB	F	-0.83%
TSN	B	-0.7%
CM	A	-0.62%
GP	F	-0.59%
AIG	B	-0.57%
SJM	D	-0.57%
AZO	C	-0.52%
BNS	A	-0.52%
D	C	-0.51%
TD	F	-0.51%
RY	A	-0.51%
VFC	C	-0.39%
ETR	B	-0.38%
NDAQ	A	-0.31%
ARCC	A	-0.3%
HSBC	B	-0.29%
CFG	B	-0.29%
MLM	B	-0.28%
DB	D	-0.28%
CP	D	-0.27%
LEN	D	-0.26%
ATHS	C	-0.26%
AL	B	-0.25%
CMS	C	-0.24%
FIS	C	-0.23%
MCHP	D	-0.22%
FITB	A	-0.22%
PPL	B	-0.22%
FOXA	B	-0.21%
NYC	D	-0.21%
SBUX	A	-0.18%
LUV	C	-0.18%
AEE	A	-0.17%
BHF	B	-0.17%
SEB	F	-0.16%
UBS	C	-0.16%
PSX	C	-0.16%
AZN	D	-0.15%
NWG	C	-0.15%
BA	F	-0.15%
MUFG	B	-0.14%
MET	A	-0.13%
CNH	C	-0.13%
EFX	F	-0.1%
GM	B	-0.1%
R	B	-0.08%
HRL	D	-0.07%