FFSM vs. PFUT ETF Comparison

Comparison of Fidelity Fundamental Small-Mid Cap ETF (FFSM) to Putnam Sustainable Future ETF (PFUT)

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

$29.06

Average Daily Volume

28,472

Number of Holdings ^*

171

* may have additional holdings in another (foreign) market

PFUT

Putnam Sustainable Future ETF

PFUT Description

The investment seeks long-term capital appreciation. The fund invests mainly in common stocks of U.S. companies of any size, with a focus on companies whose products and services provide solutions that directly contribute to sustainable social, environmental and economic development (Impact Companies). Under normal circumstances, the fund invests at least 80% of the value of its net assets in securities that meet Putnam Management?s sustainability criteria. In applying these criteria, Putnam Management will assign each company a proprietary environmental, social and/or corporate governance (ESG) rating ranging from 1 to 4.

Grade (RS Rating)

Last Trade

$26.45

Average Daily Volume

23,002

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FFSM	PFUT
30 Days	7.11%	5.25%
60 Days	5.92%	5.80%
90 Days	6.92%	7.43%
12 Months	35.08%	33.33%

8 Overlapping Holdings

Symbol	Grade	Weight in FFSM	Weight in PFUT	Overlap
ARGX	A	0.41%	0.6%	0.41%
CNM	D	0.47%	0.92%	0.47%
FSS	B	0.6%	1.85%	0.6%
GPK	C	0.71%	1.28%	0.71%
ICLR	D	0.1%	1.53%	0.1%
RRX	B	1.01%	1.27%	1.01%
STX	D	0.84%	1.3%	0.84%
VRT	B	1.14%	2.05%	1.14%

FFSM Overweight 163 Positions Relative to PFUT

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

FFSM Underweight 70 Positions Relative to PFUT

Symbol	Grade	Weight
ROP	B	-2.09%
TMO	F	-2.06%
ISRG	A	-2.01%
DHR	F	-1.99%
SFM	A	-1.94%
IT	C	-1.87%
MSCI	C	-1.83%
FICO	B	-1.8%
DDOG	A	-1.78%
NEE	D	-1.77%
CEG	D	-1.77%
HASI	D	-1.72%
XYL	D	-1.71%
MA	C	-1.69%
PWR	A	-1.68%
CWST	A	-1.62%
PINS	D	-1.52%
NOW	A	-1.51%
REGN	F	-1.48%
RMD	C	-1.45%
TPG	A	-1.4%
MTN	C	-1.38%
CDNS	B	-1.38%
AMAT	F	-1.38%
COF	B	-1.35%
ADBE	C	-1.32%
EXAS	D	-1.29%
HUBS	A	-1.28%
WY	D	-1.26%
CPB	D	-1.25%
ZBRA	B	-1.23%
IDXX	F	-1.22%
DAR	C	-1.22%
FWRG	C	-1.21%
CTAS	B	-1.2%
ZTS	D	-1.19%
ASML	F	-1.17%
CMG	B	-1.15%
ADI	D	-1.15%
HQY	B	-1.11%
PEN	B	-1.1%
ONON	A	-1.08%
MTD	D	-1.07%
LULU	C	-1.04%
LEVI	F	-1.04%
TRMB	B	-1.04%
VRSK	A	-1.03%
VERX	B	-1.03%
ALTR	B	-0.99%
SUM	B	-0.98%
HAE	C	-0.98%
UBER	D	-0.96%
SNPS	B	-0.94%
COIN	C	-0.93%
FSLR	F	-0.87%
VRRM	D	-0.78%
ECL	D	-0.77%
ESTC	C	-0.75%
KKR	A	-0.64%
BMRN	D	-0.64%
URI	B	-0.62%
GEV	B	-0.56%
PL	A	-0.54%
ASND	D	-0.52%
SGBX	F	-0.49%
AZN	D	-0.49%
DXCM	D	-0.46%
TWST	D	-0.43%
RCKT	F	-0.29%
CMPS	F	-0.25%