FFLV vs. PWV ETF Comparison

Comparison of Fidelity Fundamental Large Cap Value ETF (FFLV) to PowerShares Dynamic LargeCap Value (PWV)

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

$21.18

Average Daily Volume

7,150

Number of Holdings ^*

* may have additional holdings in another (foreign) market

PWV

PowerShares Dynamic LargeCap Value

PWV Description

The PowerShares Dynamic Large Cap Value Portfolio (Fund) is based on the Dynamic Large Cap Value IntellidexSM Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to provide capital appreciation while maintaining consistent stylistically accurate exposure. The Style Intellidexes apply a rigorous 10 factor style isolation process to objectively segregate companies into their appropriate investment style and size universe. The Fund and the Index are rebalanced and reconstituted quarterly in February, May, August and November.

Grade (RS Rating)

Last Trade

$56.52

Average Daily Volume

37,549

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FFLV	PWV
30 Days	4.25%	3.70%
60 Days	4.66%	3.17%
90 Days	3.69%	3.24%
12 Months		21.07%

6 Overlapping Holdings

Symbol	Grade	Weight in FFLV	Weight in PWV	Overlap
BAC	D	2.34%	3.27%	2.34%
CMCSA	C	2.31%	3.18%	2.31%
CSCO	B	3.48%	3.41%	3.41%
JPM	B	4.36%	3.49%	3.49%
WFC	D	3.09%	3.1%	3.09%
XOM	C	4.54%	3.16%	3.16%

FFLV Overweight 4 Positions Relative to PWV

Symbol	Grade	Weight
HIG	B	2.6%
UNH	A	2.23%
TRV	A	2.2%
SHEL	D	2.14%

FFLV Underweight 43 Positions Relative to PWV

Symbol	Grade	Weight
ABBV	B	-4.03%
IBM	A	-3.82%
JNJ	B	-3.68%
ABT	A	-3.56%
AMGN	C	-3.5%
VZ	B	-3.35%
MS	C	-3.23%
CAT	C	-3.08%
CVX	F	-2.83%
DHI	B	-1.75%
AFL	B	-1.72%
HCA	B	-1.69%
PNC	B	-1.63%
FDX	D	-1.61%
BK	B	-1.58%
LEN	B	-1.57%
LOW	B	-1.55%
GM	B	-1.53%
CB	A	-1.51%
CI	B	-1.5%
MET	B	-1.49%
WMB	B	-1.49%
FIS	A	-1.49%
ELV	B	-1.43%
URI	C	-1.43%
COF	C	-1.43%
CME	A	-1.41%
ET	C	-1.4%
KR	C	-1.39%
PRU	C	-1.38%
CNC	D	-1.37%
AIG	D	-1.35%
EOG	D	-1.33%
MPC	D	-1.31%
F	D	-1.27%
PSX	D	-1.26%
COP	D	-1.25%
PCAR	D	-1.19%
VLO	D	-1.16%
NXPI	D	-1.16%
NUE	F	-1.14%
SCCO	D	-1.09%
DELL	F	-0.89%