FFLV vs. LBAY ETF Comparison

Comparison of Fidelity Fundamental Large Cap Value ETF (FFLV) to Leatherback Long/Short Alternative Yield ETF (LBAY)

FFLV

Fidelity Fundamental Large Cap Value ETF

FFLV Description

The fund will normally invest at least 80% of the fund"s assets in equity securities of companies with large market capitalizations (which, for purposes of this fund, are those companies with market capitalizations similar to companies in the Russell 1000® Index or the S&P 500® Index). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$22.49

Average Daily Volume

946

Number of Holdings ^*

108

* may have additional holdings in another (foreign) market

LBAY

Leatherback Long/Short Alternative Yield ETF

LBAY Description

The investment seeks capital appreciation and income. The fund is an actively-managed ETF that seeks to achieve its investment objective by purchasing long positions in securities believed to provide sustainable shareholder yield (defined as dividends plus buybacks plus debt paydowns) and taking short positions in securities expected to decline in price. It will generally have net exposure of 75% - 110% long. The fund's long positions are generally expected to be comprised of equity securities or depositary receipts, although long positions may also include investment-grade corporate bonds and convertible bonds. It is non-diversified.

Grade (RS Rating)

Last Trade

$26.28

Average Daily Volume

2,775

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FFLV	LBAY
30 Days	0.28%	-5.60%
60 Days	3.80%	-5.78%
90 Days	6.37%	-1.88%
12 Months		5.39%

6 Overlapping Holdings

Symbol	Grade	Weight in FFLV	Weight in LBAY	Overlap
BG	D	0.25%	4.57%	0.25%
CMCSA	B	2.31%	4.57%	2.31%
CVS	F	1.21%	4.36%	1.21%
LW	C	0.65%	4.96%	0.65%
ORI	A	0.75%	4.77%	0.75%
XOM	B	4.54%	4.78%	4.54%

FFLV Overweight 102 Positions Relative to LBAY

Symbol	Grade	Weight
JPM	A	4.36%
CSCO	B	3.48%
WFC	A	3.09%
HIG	C	2.6%
BAC	A	2.34%
UNH	B	2.23%
TRV	A	2.2%
JNJ	D	2.03%
ELV	F	1.96%
KVUE	A	1.95%
JCI	A	1.84%
FDX	A	1.7%
PLD	D	1.66%
CI	D	1.59%
EIX	C	1.58%
USFD	B	1.49%
PCG	A	1.49%
ALSN	B	1.38%
APO	A	1.37%
WELL	A	1.32%
SJM	F	1.24%
AZN	F	1.09%
BRK.A	A	1.04%
WLK	F	1.01%
RJF	A	1.01%
TKR	F	0.99%
CNC	F	0.96%
MCHP	F	0.94%
SRE	A	0.89%
COR	B	0.88%
MRK	F	0.88%
AFG	A	0.87%
TSM	B	0.86%
TRGP	A	0.84%
DOX	D	0.84%
GEN	B	0.83%
GPK	D	0.82%
KDP	D	0.8%
UHAL	D	0.8%
CB	C	0.76%
GDDY	A	0.7%
RRX	B	0.69%
LMT	D	0.68%
FLR	B	0.68%
TPX	A	0.67%
CNXC	F	0.67%
PSA	C	0.65%
SNX	D	0.61%
BCO	F	0.6%
WCC	A	0.58%
XPO	B	0.58%
LOW	A	0.58%
BC	D	0.58%
KO	D	0.57%
CG	B	0.56%
AES	F	0.54%
ALLY	C	0.54%
CEG	D	0.52%
KEY	A	0.52%
HPQ	B	0.47%
SW	A	0.47%
VST	A	0.46%
UFPI	C	0.46%
GMS	A	0.46%
GPN	B	0.44%
LAD	A	0.43%
IPG	F	0.42%
APTV	F	0.39%
FAF	C	0.38%
GTES	B	0.38%
DOOO	F	0.37%
LPX	A	0.36%
OLN	F	0.33%
HRI	B	0.32%
CC	C	0.31%
AAP	D	0.31%
DAR	B	0.31%
HOG	D	0.3%
LITE	A	0.29%
SLM	A	0.28%
CPT	D	0.28%
MDU	D	0.27%
HRB	D	0.27%
UPBD	B	0.26%
G	A	0.26%
OMF	A	0.24%
PM	A	0.22%
NXST	D	0.22%
VSTS	F	0.22%
CIEN	B	0.22%
TEX	D	0.21%
AR	B	0.2%
COMP	B	0.2%
SIG	B	0.2%
TPR	A	0.17%
SNY	D	0.17%
CCI	D	0.14%
MOH	F	0.13%
EWBC	A	0.13%
FCNCA	A	0.12%
WBS	A	0.11%
FTRE	D	0.07%

FFLV Underweight 46 Positions Relative to LBAY

Symbol	Grade	Weight
MO	A	-4.64%
NEM	F	-4.59%
FIS	B	-4.54%
VTRS	A	-4.48%
ZBH	C	-4.41%
AGNC	C	-4.41%
BERY	D	-4.14%
ICE	D	-4.08%
MTN	C	-3.91%
V	A	-3.89%
MDT	D	-3.86%
UNP	D	-3.77%
T	A	-3.64%
LHX	B	-3.59%
EBAY	D	-3.58%
MMM	D	-3.53%
AWK	C	-3.45%
BKNG	A	-3.37%
RIO	F	-3.28%
MSCI	A	-3.15%
APD	A	-3.11%
SPGI	C	-2.92%
PCH	D	-2.79%
DE	D	-2.68%
SHAK	B	--1.21%
DKS	D	--1.21%
BURL	C	--1.26%
SITE	D	--1.27%
RBLX	B	--1.29%
EQIX	B	--1.38%
TSLA	B	--1.45%
EVR	A	--1.46%
SF	A	--1.48%
LLY	F	--1.48%
DKNG	B	--1.49%
DLR	A	--1.51%
CVNA	A	--1.53%
AAPL	C	--1.53%
DAL	A	--1.53%
TOL	B	--1.54%
PLNT	A	--1.54%
AVGO	C	--1.54%
SQ	A	--1.56%
VRT	A	--1.63%
OLLI	D	--1.69%
DUOL	B	--1.85%