FFLG vs. EHLS ETF Comparison

Comparison of Fidelity Fundamental Large Cap Growth ETF (FFLG) to Even Herd Long Short ETF (EHLS)

FFLG

Fidelity Fundamental Large Cap Growth ETF

FFLG Description

FFLG seeks to achieve long-term capital growth by investing in large-cap companies believed to have above-average growth potential. The adviser generally defines large-caps as companies with similar market capitalizations to Russell 1000 or S&P 500 companies. Growth is measured based on factors such as earnings or revenue. Stocks are selected using fundamental analysis of factors such as financial condition and industry position of each issuer, as well as market and economic conditions. The adviser then incorporates a quantitative portfolio construction process to emphasize securities in which the adviser has high conviction, subject to risk, liquidity, and trading characteristics. The fund invests in both US and non-US companies. Despite its large-cap focus, the fund's strategy can lead to investments in small- and mid-cap companies. Before February 26, 2024, the fund traded as Fidelity Growth Opportunities ETF under the ticker FGRO. The fund previously used a semitransparent ETF structure

Grade (RS Rating)

Last Trade

$25.23

Average Daily Volume

28,822

Number of Holdings ^*

* may have additional holdings in another (foreign) market

EHLS

Even Herd Long Short ETF

EHLS Description

EHLS seeks long-term capital appreciation through a momentum-focused strategy that takes both long and short positions in US equity securities. In selecting securities, the fund employs a proprietary algorithm that emphasizes a dynamic, trend-focused analysis, instead of a strictly bottom-up valuation analysis, driven by price movements and other data points based on market trends and stock momentum. The sub-adviser may adjust its proprietary system that is continuously optimized and refined. The fund strategy involves taking long positions in equity securities exhibiting strong upward momentum and short positions in those showing downward momentum. The actively managed fund targets a net equity exposure from 40% to 90% net long, subject to adjustments based on market conditions. The fund aims to maintain 100% long and 10-60% short exposure. Short sales may include entering into swap agreements or the use of leverage.

Grade (RS Rating)

Last Trade

$22.38

Average Daily Volume

2,997

Number of Holdings ^*

279

* may have additional holdings in another (foreign) market

Performance

Period	FFLG	EHLS
30 Days	3.15%	5.16%
60 Days	8.22%	8.64%
90 Days	8.41%	12.23%
12 Months	43.06%

15 Overlapping Holdings

Symbol	Grade	Weight in FFLG	Weight in EHLS	Overlap
ASML	D	1.3%	-0.23%	-0.23%
BSX	A	1.72%	0.7%	0.7%
CSGP	F	0.39%	-0.46%	-0.46%
CVNA	B	0.57%	1.29%	0.57%
EME	B	0.46%	0.5%	0.46%
HOOD	B	0.26%	0.75%	0.26%
HWM	B	0.5%	1.79%	0.5%
META	B	5.34%	1.74%	1.74%
NVDA	A	12.31%	1.8%	1.8%
ON	F	0.76%	-0.3%	-0.3%
SE	B	0.13%	1.21%	0.13%
TEVA	D	0.24%	0.46%	0.24%
TMUS	A	0.88%	0.94%	0.88%
W	F	0.03%	-0.21%	-0.21%
WMT	A	0.49%	0.49%	0.49%

FFLG Overweight 76 Positions Relative to EHLS

Symbol	Grade	Weight
AAPL	C	12.07%
MSFT	C	9.14%
AMZN	A	7.12%
GOOG	C	2.82%
GOOGL	C	2.48%
UBER	F	2.21%
NFLX	A	2.02%
TSM	C	1.96%
MA	B	1.95%
LOW	B	1.57%
LLY	F	1.46%
NXPI	F	1.37%
GE	D	0.9%
CDNS	B	0.86%
MPWR	F	0.85%
LULU	B	0.8%
HUBS	B	0.76%
CRM	B	0.75%
MU	D	0.73%
ALNY	D	0.71%
MRVL	B	0.7%
FLEX	B	0.69%
DHR	F	0.68%
MDB	C	0.63%
TJX	A	0.63%
UNH	B	0.62%
REGN	F	0.59%
BLD	F	0.58%
TMO	F	0.57%
BLDR	C	0.57%
SHOP	B	0.55%
KDP	C	0.55%
ICE	C	0.54%
XOM	B	0.53%
ABNB	C	0.52%
MNST	B	0.52%
IR	A	0.51%
CMG	B	0.49%
RH	C	0.48%
COIN	B	0.45%
GEV	B	0.44%
SNAP	C	0.44%
PODD	B	0.42%
NTNX	B	0.42%
ROKU	C	0.38%
FIX	B	0.37%
BRKR	F	0.36%
FSLR	F	0.33%
DPZ	C	0.33%
HQY	B	0.33%
FLYW	B	0.32%
VMC	B	0.32%
SQ	B	0.31%
AVGO	C	0.3%
EXAS	F	0.3%
NVO	F	0.28%
ARGX	B	0.27%
PM	B	0.24%
PCVX	D	0.24%
DKS	D	0.23%
ITCI	B	0.22%
TMDX	F	0.21%
ATI	F	0.19%
RRC	B	0.19%
AZN	F	0.18%
LYFT	B	0.18%
IONS	F	0.16%
NUVL	D	0.16%
RIVN	F	0.14%
MRNA	F	0.13%
RDDT	B	0.12%
HOLX	D	0.12%
ROIV	D	0.1%
IDYA	F	0.09%
LEGN	F	0.07%
TGT	C	0.07%

FFLG Underweight 264 Positions Relative to EHLS

Symbol	Grade	Weight
BMA	B	-2.18%
CSWI	B	-2.08%
SPOT	A	-1.95%
QTWO	B	-1.91%
GDS	C	-1.87%
LMB	B	-1.73%
SLG	C	-1.73%
IRM	D	-1.71%
USLM	B	-1.7%
PIPR	B	-1.66%
FICO	B	-1.6%
VST	B	-1.54%
NRG	C	-1.53%
CTAS	B	-1.51%
MSI	B	-1.5%
HWKN	C	-1.42%
GVA	B	-1.4%
REAX	C	-1.38%
CW	C	-1.32%
SLVM	C	-1.32%
ADMA	C	-1.31%
IGIC	A	-1.29%
CBRE	B	-1.29%
CEG	D	-1.29%
CLBT	C	-1.27%
CRS	B	-1.26%
SFM	B	-1.25%
WELL	B	-1.25%
TPL	B	-1.23%
BK	B	-1.22%
IIPR	F	-1.18%
SKT	A	-1.12%
TPB	B	-1.11%
FTDR	B	-1.08%
THC	B	-1.06%
DASH	A	-1.06%
PLTR	B	-1.06%
CNX	B	-1.05%
ARES	B	-1.05%
ANET	C	-1.01%
BRO	B	-1.0%
AXP	B	-1.0%
PAM	A	-0.99%
GLNG	C	-0.98%
RDNT	B	-0.96%
JXN	C	-0.95%
RSI	B	-0.95%
ZETA	F	-0.9%
WAB	B	-0.9%
EDN	A	-0.86%
MOD	D	-0.85%
PNTG	D	-0.85%
IESC	B	-0.82%
NPAB	F	-0.81%
COOP	B	-0.8%
PSN	C	-0.79%
KKR	B	-0.77%
ISRG	A	-0.76%
YOU	D	-0.73%
CDNA	D	-0.7%
TIGO	D	-0.7%
HLNE	B	-0.61%
ALSN	B	-0.56%
AMAL	B	-0.56%
SKYW	B	-0.56%
NBN	B	-0.55%
BBSI	B	-0.54%
TRGP	B	-0.54%
AIT	A	-0.54%
FTI	B	-0.53%
CCB	A	-0.53%
RNA	B	-0.5%
CLH	B	-0.5%
ALHC	C	-0.5%
HUBB	C	-0.49%
MMYT	C	-0.49%
HRB	D	-0.49%
PKG	B	-0.49%
TYL	B	-0.49%
PGR	A	-0.48%
OHI	C	-0.48%
GRBK	D	-0.47%
FI	A	-0.47%
BEKE	C	-0.45%
JD	C	-0.43%
OSCR	D	-0.32%
POWL	C	-0.29%
CNK	B	-0.29%
YPF	A	-0.28%
MLR	C	-0.28%
CASH	B	-0.27%
FRHC	A	-0.27%
RKLB	B	-0.27%
EXLS	B	-0.26%
KTB	A	-0.26%
PPTA	C	-0.26%
UFPT	C	-0.26%
BBW	B	-0.25%
LYV	A	-0.25%
SNEX	B	-0.25%
MUSA	B	-0.25%
MATX	B	-0.24%
EXEL	B	-0.24%
VIST	B	-0.24%
CACI	C	-0.24%
AORT	C	-0.24%
GATO	C	-0.24%
TCBX	B	-0.24%
ONON	B	-0.23%
QFIN	C	-0.23%
TRUP	B	-0.21%
CSTM	F	--0.08%
NEP	F	--0.1%
CVI	F	--0.13%
CQP	B	--0.14%
STNG	F	--0.17%
AES	F	--0.17%
FLNG	C	--0.18%
WU	F	--0.18%
APTV	F	--0.19%
WRLD	C	--0.2%
BEN	C	--0.2%
ELF	C	--0.2%
VSAT	F	--0.2%
DG	F	--0.21%
ENPH	F	--0.21%
VAL	D	--0.21%
ALGT	B	--0.21%
ADNT	D	--0.21%
ASH	F	--0.22%
DOOO	F	--0.22%
LEA	F	--0.22%
COLD	F	--0.22%
OLN	F	--0.23%
FIVE	F	--0.23%
ENOV	C	--0.23%
APA	F	--0.23%
NKE	F	--0.23%
AMRC	F	--0.24%
MTN	C	--0.24%
F	C	--0.24%
ELV	F	--0.24%
CWT	D	--0.24%
CTRA	B	--0.24%
AVTR	F	--0.24%
IGT	F	--0.24%
WPC	F	--0.24%
PLD	D	--0.24%
NTST	F	--0.24%
VC	F	--0.24%
WSC	F	--0.24%
SITE	D	--0.25%
CC	C	--0.25%
STZ	D	--0.25%
HTH	B	--0.25%
HSY	F	--0.25%
WOR	F	--0.25%
ETSY	D	--0.25%
FIVN	C	--0.25%
PCH	F	--0.25%
ROG	D	--0.25%
GO	C	--0.25%
GEF	B	--0.25%
DKNG	B	--0.25%
ADM	F	--0.25%
BG	D	--0.25%
ALV	C	--0.25%
REXR	F	--0.25%
TEX	D	--0.25%
NUE	D	--0.25%
DLB	D	--0.25%
FTV	C	--0.25%
MRK	F	--0.25%
MGM	D	--0.26%
MTDR	B	--0.26%
ODP	F	--0.26%
NSP	F	--0.26%
CWH	C	--0.26%
APLS	F	--0.26%
SON	F	--0.26%
KEYS	C	--0.26%
SCL	C	--0.26%
PD	C	--0.26%
FUL	F	--0.26%
DVN	F	--0.27%
FMX	F	--0.27%
CENTA	C	--0.27%
ZD	B	--0.27%
ALB	C	--0.27%
AMN	F	--0.27%
ENTG	F	--0.27%
MCHP	F	--0.27%
SIGI	B	--0.28%
MUR	D	--0.28%
ATKR	C	--0.28%
URBN	C	--0.28%
SJW	F	--0.28%
ARE	F	--0.28%
HXL	F	--0.28%
CNI	F	--0.28%
VTLE	C	--0.28%
IPG	F	--0.28%
AIN	C	--0.29%
EG	D	--0.29%
HES	B	--0.29%
OKTA	C	--0.29%
MRTN	C	--0.29%
LKQ	C	--0.29%
UGI	D	--0.29%
UPBD	B	--0.29%
SLB	C	--0.29%
HELE	C	--0.29%
YELP	C	--0.29%
VRSN	C	--0.29%
CENT	C	--0.29%
SLAB	F	--0.3%
CHRD	D	--0.3%
CDW	F	--0.3%
CVX	A	--0.3%
KMX	B	--0.3%
EVTC	C	--0.3%
DIS	B	--0.3%
ALGM	F	--0.3%
CAR	C	--0.3%
TDC	F	--0.3%
CIVI	D	--0.3%
LW	B	--0.3%
RPD	C	--0.3%
IAC	F	--0.3%
SNOW	C	--0.3%
OXM	D	--0.31%
NEO	B	--0.31%
HP	C	--0.31%
CRL	C	--0.31%
ALLY	C	--0.31%
OVV	C	--0.31%
COHU	C	--0.31%
CARS	B	--0.31%
VLO	C	--0.31%
WFRD	F	--0.32%
FIZZ	C	--0.32%
PZZA	D	--0.32%
SPT	C	--0.32%
CALX	F	--0.32%
IOSP	B	--0.32%
MTRN	B	--0.33%
BHF	B	--0.33%
TENB	C	--0.34%
IRTC	C	--0.35%
AMR	C	--0.35%
DIOD	F	--0.35%
NARI	C	--0.35%
PINS	F	--0.36%
QLYS	B	--0.36%
UPS	C	--0.37%
PGNY	F	--0.38%
RYI	B	--0.4%
PARR	F	--0.44%
EPAM	B	--0.44%
PRGO	C	--0.44%
OMI	F	--0.47%
IMCR	C	--0.54%
USPH	C	--0.56%
ALRM	C	--0.58%