FFSM vs. WBIF ETF Comparison

Comparison of Fidelity Fundamental Small-Mid Cap ETF (FFSM) to WBI Large Cap Tactical Value Shares (WBIF)
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

$28.16

Average Daily Volume

27,906

Number of Holdings *

171

* may have additional holdings in another (foreign) market
WBIF

WBI Large Cap Tactical Value Shares

WBIF Description The investment seeks long-term capital appreciation and the potential for current income, while also seeking to protect principal during unfavorable market conditions. The fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the equity securities of large capitalization domestic and foreign companies which WBI Investments, Inc., the sub-advisor to the fund and an affiliate of Millington Securities Inc., the advisor, believes display an attractive discount in a company's intrinsic value relative to its market price, and up to 20% of its net assets in other tactical investment opportunities.

Grade (RS Rating)

Last Trade

$29.59

Average Daily Volume

1,646

Number of Holdings *

44

* may have additional holdings in another (foreign) market
Performance
Period FFSM WBIF
30 Days 0.43% 0.27%
60 Days 1.88% 2.21%
90 Days 6.63% 3.45%
12 Months 31.49% 12.16%
9 Overlapping Holdings
Symbol Grade Weight in FFSM Weight in WBIF Overlap
ALSN A 0.76% 0.68% 0.68%
AME A 0.01% 1.42% 0.01%
CBT C 0.59% 0.57% 0.57%
DOX D 0.92% 0.57% 0.57%
EME B 1.81% 4.41% 1.81%
G A 0.59% 1.34% 0.59%
NXST D 0.75% 1.49% 0.75%
PRI A 0.56% 1.37% 0.56%
RGA A 0.76% 3.08% 0.76%
FFSM Overweight 162 Positions Relative to WBIF
Symbol Grade Weight
UHS D 1.5%
FTI A 1.47%
TPX A 1.46%
ACGL D 1.45%
EXP B 1.44%
MUSA A 1.34%
NSIT F 1.33%
AR B 1.27%
BJ B 1.22%
FN C 1.22%
ITT A 1.2%
CROX F 1.17%
PFGC B 1.16%
USFD B 1.16%
VRT A 1.14%
SN D 1.11%
JLL C 1.1%
MOH F 1.1%
CACI C 1.06%
WHD B 1.01%
CR B 1.01%
RRX B 1.01%
ORI A 0.96%
SNX C 0.95%
AIZ A 0.91%
BOOT C 0.9%
TMDX F 0.9%
LNG A 0.9%
DFS B 0.89%
AIT A 0.88%
SNV B 0.88%
DKS D 0.84%
STX D 0.84%
AYI B 0.81%
TGLS B 0.81%
FAF C 0.77%
BC D 0.76%
VTR C 0.76%
SF A 0.75%
PNFP A 0.73%
PCG A 0.72%
HLI B 0.71%
GPK D 0.71%
AEIS B 0.66%
ACM B 0.66%
ASGN F 0.65%
AES F 0.65%
LPX A 0.65%
KBH D 0.64%
FCNCA A 0.63%
ON F 0.62%
BECN A 0.61%
MMS D 0.6%
CMC B 0.6%
FSS B 0.6%
LBRT F 0.59%
VNT C 0.59%
CADE B 0.59%
WBS A 0.57%
NOG A 0.57%
MEDP D 0.57%
MTSI B 0.57%
EPRT C 0.56%
HOLX D 0.56%
XPO B 0.56%
BCO F 0.56%
CHDN C 0.54%
ESI B 0.54%
CIEN B 0.53%
ASO F 0.53%
WTFC A 0.52%
CRL D 0.52%
CWK B 0.51%
RJF A 0.51%
PVH C 0.51%
HAYW A 0.51%
IESC B 0.51%
GMS B 0.51%
WIX A 0.5%
AFG A 0.49%
EBC A 0.49%
CTRE D 0.49%
EAT A 0.47%
CNM C 0.47%
KBR D 0.46%
BOKF A 0.46%
BLDR D 0.46%
TENB D 0.45%
OLN F 0.45%
PRCT B 0.44%
LITE B 0.44%
NOMD D 0.42%
AXTA A 0.42%
TEX D 0.42%
ARGX B 0.41%
COMP B 0.4%
LW C 0.4%
MASI B 0.39%
IP A 0.37%
CXT D 0.36%
CAH A 0.36%
GVA A 0.35%
RUSHA B 0.35%
AZZ A 0.34%
GTES A 0.33%
WFRD F 0.33%
PCVX D 0.32%
FLEX B 0.31%
AZEK B 0.3%
UPBD C 0.3%
ARCB C 0.3%
MTB A 0.3%
SKY A 0.3%
LEA F 0.3%
GRBK D 0.3%
CNXC F 0.29%
IBTX B 0.29%
FBP B 0.29%
LCII D 0.29%
DIOD F 0.27%
AMN F 0.27%
ALGM F 0.24%
LAUR A 0.24%
DOOO F 0.23%
PATK C 0.2%
CRNX C 0.19%
ACLX C 0.19%
RGEN F 0.19%
KFRC D 0.18%
CYTK D 0.18%
MDGL C 0.16%
NUVL D 0.16%
AAP C 0.15%
XPRO F 0.14%
MNDY C 0.14%
KROS D 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 D 0.11%
TYRA F 0.11%
COGT D 0.11%
LBPH A 0.1%
ICLR F 0.1%
CLDX F 0.1%
XENE D 0.09%
AUTL F 0.08%
TCBK A 0.08%
MRUS D 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%
ALXO F 0.0%
EWTX C 0.0%
ZNTL D 0.0%
FFSM Underweight 35 Positions Relative to WBIF
Symbol Grade Weight
WRB A -4.61%
CI D -4.2%
V A -4.17%
AMAT F -4.05%
ACN C -4.03%
PRU A -4.0%
CMS C -3.96%
MCK A -3.91%
UNM A -3.69%
VOYA A -3.23%
OXY D -2.86%
PM A -2.13%
MMC C -2.12%
MLI B -1.74%
ADP B -1.56%
AXP B -1.52%
LRCX F -1.42%
PAYX B -1.41%
TXRH B -1.31%
CASY B -1.31%
BR A -1.31%
RMD C -1.3%
FLTR A -0.75%
AGZD A -0.74%
FALN A -0.74%
SYF B -0.72%
FTSL A -0.68%
EQH B -0.61%
DCI B -0.56%
THG A -0.56%
TOL B -0.54%
GL B -0.54%
ALLE D -0.53%
STIP C -0.53%
BKLN A -0.31%
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