FFSM vs. SYLD ETF Comparison

Comparison of Fidelity Fundamental Small-Mid Cap ETF (FFSM) to Cambria Shareholder Yield ETF (SYLD)

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

$24.96

Average Daily Volume

16,624

Number of Holdings ^*

158

* may have additional holdings in another (foreign) market

SYLD

Cambria Shareholder Yield ETF

SYLD Description

The investment seeks income and capital appreciation with an emphasis on income from investments in the U.S. equity market. The fund invests primarily in equity securities that provide a high "shareholder yield." Cambria views equity securities as providing a high shareholder yield if they exhibit strong cash flows, as reflected by their payment of dividends to shareholders and their return of capital to shareholders in other forms. It will invest primarily in equity securities, including the common stock, of U.S. companies, though the fund may obtain a limited amount of foreign and emerging markets exposure through investments in ADRs.

Grade (RS Rating)

Last Trade

$68.02

Average Daily Volume

74,983

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FFSM	SYLD
30 Days	-3.41%	-3.84%
60 Days	0.12%	-0.64%
90 Days	-2.88%	-5.42%
12 Months	15.43%	13.48%

11 Overlapping Holdings

Symbol	Grade	Weight in FFSM	Weight in SYLD	Overlap
AFG	D	0.52%	0.97%	0.52%
ASO	F	0.4%	0.83%	0.4%
ATKR	F	0.87%	0.74%	0.74%
BC	F	0.81%	0.8%	0.8%
DFS	A	0.89%	1.03%	0.89%
KBH	C	0.54%	1.04%	0.54%
OLN	F	0.54%	0.86%	0.54%
PVH	F	0.71%	0.86%	0.71%
SNX	D	0.83%	1.1%	0.83%
STLD	C	0.64%	0.89%	0.64%
UHS	B	1.23%	1.09%	1.09%

FFSM Overweight 147 Positions Relative to SYLD

Symbol	Grade	Weight
VRT	D	1.71%
FTI	C	1.68%
EME	C	1.65%
AR	D	1.58%
TPX	D	1.49%
AZO	C	1.47%
ACGL	B	1.33%
MUSA	B	1.27%
BJ	B	1.22%
MOH	F	1.21%
CROX	B	1.17%
ITT	D	1.14%
PFGC	D	1.11%
RRX	F	1.09%
EXP	F	1.08%
LPLA	B	1.06%
USFD	C	1.05%
CR	C	1.01%
FN	B	0.99%
DKS	C	0.98%
NSIT	B	0.98%
DOX	D	0.98%
WHD	B	0.97%
CACI	B	0.96%
XPO	C	0.96%
CHDN	B	0.94%
ORI	D	0.89%
LNG	B	0.88%
AIZ	D	0.88%
AME	D	0.85%
NXST	C	0.82%
JLL	B	0.81%
AYI	D	0.81%
AIT	C	0.79%
VNT	D	0.79%
BECN	D	0.76%
FAF	D	0.75%
ASGN	D	0.75%
TGLS	C	0.74%
GVA	B	0.74%
ON	D	0.72%
STX	B	0.72%
SN	B	0.72%
MEDP	B	0.72%
PCG	D	0.7%
CC	F	0.69%
GPK	D	0.68%
CNM	D	0.68%
KBR	D	0.67%
ACHC	F	0.67%
ALSN	C	0.66%
FCNCA	C	0.66%
AEIS	B	0.66%
ACM	D	0.66%
CRL	F	0.66%
AES	D	0.65%
RGA	B	0.65%
CMC	C	0.64%
SNV	A	0.63%
PNFP	C	0.63%
HLI	A	0.63%
G	D	0.63%
BOOT	B	0.63%
DT	F	0.61%
FSS	D	0.59%
VTR	A	0.59%
PRI	B	0.59%
MMS	C	0.59%
HOLX	C	0.59%
MTSI	B	0.58%
CAH	D	0.58%
WBS	C	0.58%
CADE	C	0.58%
RJF	C	0.57%
CIEN	C	0.56%
CBT	D	0.54%
TENB	D	0.54%
LBRT	D	0.54%
PGNY	D	0.53%
ESI	B	0.52%
WTFC	C	0.51%
EXLS	B	0.5%
LPX	D	0.5%
HAYW	F	0.5%
TEX	D	0.5%
EPRT	A	0.48%
BCO	B	0.47%
OI	F	0.47%
LSCC	F	0.45%
CACC	C	0.44%
BOKF	C	0.44%
CHX	C	0.43%
EBC	B	0.43%
LEA	F	0.4%
TMDX	B	0.4%
CWK	C	0.39%
WSC	F	0.39%
NOMD	D	0.39%
FIBK	C	0.38%
NOG	C	0.38%
FROG	C	0.37%
ICHR	C	0.37%
FBP	A	0.35%
ALGM	F	0.34%
CNXC	C	0.34%
LITE	B	0.34%
ESGR	A	0.34%
DOOO	F	0.34%
FLEX	C	0.33%
FIVN	D	0.33%
LAUR	C	0.33%
DIOD	F	0.33%
RUSHA	F	0.32%
ARGX	B	0.31%
LCII	F	0.29%
OMI	F	0.28%
EAT	B	0.28%
PRO	F	0.28%
MTB	B	0.27%
RGEN	F	0.24%
HELE	F	0.21%
IBTX	B	0.21%
KFRC	D	0.2%
CSTM	D	0.19%
CRNX	C	0.18%
PATK	C	0.18%
XPRO	B	0.17%
MDGL	B	0.16%
INSM	B	0.15%
CYTK	D	0.15%
VCEL	C	0.14%
ECPG	D	0.13%
CLDX	C	0.12%
NUVL	B	0.11%
ICLR	B	0.11%
ACLX	B	0.1%
PCVX	B	0.09%
XENE	D	0.09%
AXSM	B	0.09%
PBH	B	0.07%
TCBK	B	0.07%
ARVN	D	0.06%
TXG	F	0.04%
MORF	B	0.04%
ZNTL	F	0.02%
KROS	F	0.02%
ALXO	F	0.01%

FFSM Underweight 88 Positions Relative to SYLD

Symbol	Grade	Weight
XOM	C	-2.13%
ATGE	A	-1.36%
IP	B	-1.27%
CEIX	B	-1.26%
MATX	B	-1.25%
REVG	C	-1.24%
VCTR	D	-1.23%
FOXA	B	-1.18%
BRC	B	-1.18%
SLVM	C	-1.17%
WIRE	A	-1.17%
T	A	-1.13%
DD	B	-1.12%
SYF	A	-1.12%
OC	C	-1.11%
JEF	A	-1.11%
AFL	B	-1.11%
PRG	D	-1.1%
COOP	D	-1.1%
R	B	-1.1%
CALM	A	-1.1%
MRO	B	-1.09%
CNX	D	-1.09%
PAGP	A	-1.08%
LNC	B	-1.07%
BERY	D	-1.07%
CVX	C	-1.07%
CTRA	D	-1.06%
SM	D	-1.06%
AMP	C	-1.06%
EOG	C	-1.05%
MGY	C	-1.05%
EMN	D	-1.04%
VZ	A	-1.04%
MET	D	-1.03%
L	D	-1.03%
AMG	D	-1.02%
UA	D	-1.02%
DDS	D	-1.01%
DVN	C	-1.01%
ARW	D	-1.01%
CHRD	C	-1.01%
SLM	C	-1.01%
LYB	D	-1.0%
AN	C	-1.0%
CRC	B	-1.0%
CHK	D	-1.0%
PFG	D	-0.99%
MAN	D	-0.99%
DOW	D	-0.98%
TNL	C	-0.98%
MOS	F	-0.97%
CF	D	-0.97%
PHM	D	-0.97%
PAG	D	-0.97%
FHI	C	-0.96%
VLO	C	-0.96%
COP	D	-0.96%
CMCSA	F	-0.95%
KHC	D	-0.95%
TOL	D	-0.95%
BTU	C	-0.95%
TXT	D	-0.95%
GEF	F	-0.94%
DXC	C	-0.94%
HUN	F	-0.94%
WU	D	-0.94%
TPR	B	-0.94%
AMN	F	-0.93%
MPC	C	-0.93%
AGO	B	-0.93%
VTRS	D	-0.93%
PSX	C	-0.92%
APA	D	-0.9%
AMR	C	-0.89%
PBF	D	-0.83%
ETD	D	-0.83%
NUE	D	-0.82%
BCC	F	-0.82%
CRI	F	-0.8%
ODP	D	-0.79%
CVI	F	-0.79%
WHR	C	-0.78%
WNC	D	-0.77%
HVT	F	-0.76%
XRX	F	-0.75%
BLDR	F	-0.7%
RYI	F	-0.62%