FFSM vs. MADE ETF Comparison

Comparison of Fidelity Fundamental Small-Mid Cap ETF (FFSM) to iShares U.S. Manufacturing ETF (MADE)

FFSM

Fidelity Fundamental Small-Mid Cap ETF

FFSM Description

FFSM discloses holdings only on a monthly basis with a 30-day lag. The fund actively selects global mid- and small-cap companies with both growth and value factors. The portfolio is selected using fundamental and quantitative analysis, considering factors such as issuer's financial health and industry position, as well as the overall economic condition. The fund has a Tracking Basket Structure in place, which acts as a proxy portfolio that includes some of the funds holdings from recent disclosure, significant portion of the funds holdings, and cash. This is designed to track the funds daily performance, facilitate arbitrage opportunities and help mitigate the risk of front-running. However, investors should note that its non-transparent structure could result in wider spreads. Before February 26, 2024, the fund traded as Fidelity Small-Mid Cap Opportunities ETF under the ticker FSMO.

Grade (RS Rating)

Last Trade

$28.31

Average Daily Volume

25,196

Number of Holdings ^*

171

* may have additional holdings in another (foreign) market

MADE

iShares U.S. Manufacturing ETF

MADE Description

The underlying index is designed to measure the performance of equity securities of U.S.-domiciled companies that are involved in manufacturing and manufacturing-related industries and that generate a certain amount of revenues in the U.S., among other eligibility criteria, as determined by SPDJI. The fund generally will invest at least 80% of its assets in the component securities of its underlying index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$26.14

Average Daily Volume

5,409

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FFSM	MADE
30 Days	1.98%	3.81%
60 Days	6.51%	8.92%
90 Days	9.77%	10.71%
12 Months	32.02%

14 Overlapping Holdings

Symbol	Grade	Weight in FFSM	Weight in MADE	Overlap
AEIS	B	0.66%	0.36%	0.36%
ALSN	B	0.76%	0.81%	0.76%
AME	A	0.01%	3.56%	0.01%
ATKR	C	0.01%	0.24%	0.01%
AYI	A	0.81%	0.81%	0.81%
BC	D	0.76%	0.47%	0.47%
CR	B	1.01%	0.3%	0.3%
CXT	F	0.36%	0.23%	0.23%
FN	C	1.22%	0.75%	0.75%
FSS	C	0.6%	0.43%	0.43%
KBR	D	0.46%	0.16%	0.16%
LCII	D	0.29%	0.26%	0.26%
RRX	B	1.01%	0.97%	0.97%
VNT	C	0.59%	0.49%	0.49%

FFSM Overweight 157 Positions Relative to MADE

Symbol	Grade	Weight
EME	B	1.81%
UHS	D	1.5%
FTI	B	1.47%
TPX	B	1.46%
ACGL	C	1.45%
EXP	B	1.44%
MUSA	B	1.34%
NSIT	F	1.33%
AR	B	1.27%
BJ	B	1.22%
ITT	A	1.2%
CROX	F	1.17%
PFGC	B	1.16%
USFD	B	1.16%
VRT	B	1.14%
SN	C	1.11%
JLL	C	1.1%
MOH	F	1.1%
CACI	C	1.06%
WHD	B	1.01%
ORI	A	0.96%
SNX	C	0.95%
DOX	C	0.92%
AIZ	A	0.91%
BOOT	C	0.9%
TMDX	F	0.9%
LNG	B	0.9%
DFS	B	0.89%
AIT	A	0.88%
SNV	B	0.88%
DKS	D	0.84%
STX	D	0.84%
TGLS	B	0.81%
FAF	C	0.77%
VTR	C	0.76%
RGA	A	0.76%
NXST	C	0.75%
SF	A	0.75%
PNFP	B	0.73%
PCG	A	0.72%
HLI	B	0.71%
GPK	D	0.71%
ACM	B	0.66%
ASGN	D	0.65%
AES	F	0.65%
LPX	A	0.65%
KBH	D	0.64%
FCNCA	B	0.63%
ON	F	0.62%
BECN	B	0.61%
MMS	F	0.6%
CMC	B	0.6%
LBRT	F	0.59%
G	B	0.59%
CBT	C	0.59%
CADE	B	0.59%
WBS	A	0.57%
NOG	B	0.57%
MEDP	D	0.57%
MTSI	B	0.57%
PRI	B	0.56%
EPRT	C	0.56%
HOLX	D	0.56%
XPO	B	0.56%
BCO	F	0.56%
CHDN	B	0.54%
ESI	B	0.54%
CIEN	B	0.53%
ASO	F	0.53%
WTFC	B	0.52%
CRL	C	0.52%
CWK	C	0.51%
RJF	A	0.51%
PVH	C	0.51%
HAYW	B	0.51%
IESC	B	0.51%
GMS	B	0.51%
WIX	B	0.5%
AFG	A	0.49%
EBC	B	0.49%
CTRE	C	0.49%
EAT	B	0.47%
CNM	D	0.47%
BOKF	B	0.46%
BLDR	C	0.46%
TENB	C	0.45%
OLN	F	0.45%
PRCT	C	0.44%
LITE	B	0.44%
NOMD	F	0.42%
AXTA	A	0.42%
TEX	D	0.42%
ARGX	B	0.41%
COMP	B	0.4%
LW	B	0.4%
MASI	B	0.39%
IP	B	0.37%
CAH	B	0.36%
GVA	B	0.35%
RUSHA	B	0.35%
AZZ	B	0.34%
GTES	B	0.33%
WFRD	F	0.33%
PCVX	D	0.32%
FLEX	B	0.31%
AZEK	B	0.3%
UPBD	B	0.3%
ARCB	C	0.3%
MTB	A	0.3%
SKY	B	0.3%
LEA	F	0.3%
GRBK	D	0.3%
CNXC	F	0.29%
IBTX	B	0.29%
FBP	B	0.29%
DIOD	F	0.27%
AMN	F	0.27%
ALGM	F	0.24%
LAUR	B	0.24%
DOOO	F	0.23%
PATK	C	0.2%
CRNX	B	0.19%
ACLX	C	0.19%
RGEN	C	0.19%
KFRC	C	0.18%
CYTK	C	0.18%
MDGL	C	0.16%
NUVL	D	0.16%
AAP	C	0.15%
XPRO	F	0.14%
MNDY	C	0.14%
KROS	C	0.13%
ELVN	C	0.12%
VCEL	B	0.12%
VRDN	C	0.12%
OMI	F	0.12%
AXSM	B	0.11%
ANAB	F	0.11%
CSTM	F	0.11%
TYRA	F	0.11%
COGT	D	0.11%
LBPH	A	0.1%
ICLR	F	0.1%
CLDX	F	0.1%
XENE	C	0.09%
AUTL	F	0.08%
TCBK	B	0.08%
MRUS	C	0.07%
PBH	A	0.06%
ARVN	D	0.04%
FIBK	B	0.01%
CC	C	0.01%
LPLA	A	0.01%
STLD	C	0.01%
ALXO	F	0.0%
EWTX	C	0.0%
ZNTL	C	0.0%

FFSM Underweight 84 Positions Relative to MADE

Symbol	Grade	Weight
GM	B	-4.36%
ETN	B	-4.31%
APH	B	-4.18%
PCAR	B	-4.18%
DE	D	-3.94%
HON	B	-3.92%
CMI	A	-3.88%
F	C	-3.41%
TT	B	-3.13%
PH	A	-3.01%
RTX	D	-2.78%
ROK	B	-2.63%
CARR	C	-2.25%
DOV	A	-2.24%
FTV	C	-2.15%
LMT	D	-2.04%
HUBB	C	-1.97%
FSLR	F	-1.86%
JCI	A	-1.85%
TDY	B	-1.85%
BA	F	-1.56%
SNA	A	-1.5%
GD	C	-1.32%
TDG	D	-1.3%
SWK	F	-1.24%
NOC	D	-1.23%
COHR	C	-1.22%
LECO	C	-0.99%
NVT	C	-0.99%
ENPH	F	-0.95%
GNRC	B	-0.88%
LHX	B	-0.8%
TTC	F	-0.73%
HWM	B	-0.73%
LII	B	-0.71%
PNR	A	-0.62%
MIDD	D	-0.6%
IEX	B	-0.6%
RIVN	F	-0.6%
OSK	B	-0.58%
AXON	B	-0.55%
MKSI	C	-0.55%
MSA	D	-0.53%
LFUS	D	-0.53%
GGG	B	-0.51%
THO	B	-0.48%
ITRI	B	-0.43%
LDOS	C	-0.43%
BDC	C	-0.41%
ENS	D	-0.34%
AOS	F	-0.33%
HOG	D	-0.33%
JBT	B	-0.31%
AAON	B	-0.3%
ESE	B	-0.28%
SPXC	B	-0.25%
TXT	D	-0.25%
CW	C	-0.25%
TRN	B	-0.23%
BMI	B	-0.22%
CSWI	B	-0.22%
WTS	B	-0.21%
GTLS	B	-0.2%
GT	C	-0.2%
HEI	A	-0.19%
ZWS	B	-0.19%
BWXT	B	-0.18%
WWD	B	-0.17%
BE	B	-0.17%
AIN	C	-0.16%
MWA	B	-0.14%
SAIC	D	-0.14%
FELE	B	-0.14%
LCID	F	-0.14%
HII	F	-0.13%
PLUG	D	-0.12%
NPO	B	-0.12%
FOXF	F	-0.12%
MOG.A	B	-0.1%
SEDG	F	-0.09%
SHLS	D	-0.08%
ARRY	C	-0.08%
SPR	F	-0.07%
KTOS	B	-0.06%