FHEQ vs. FLRG ETF Comparison

Comparison of Fidelity Hedged Equity ETF (FHEQ) to Fidelity U.S. Multifactor ETF (FLRG)

FHEQ

Fidelity Hedged Equity ETF

FHEQ Description

FHEQ is actively managed, investing in equity securities with market caps similar to the S&P 500 and Russell 1000. The fund utilizes quantitative analysis and options for downside protection.

Grade (RS Rating)

Last Trade

$27.66

Average Daily Volume

23,917

Number of Holdings ^*

169

* may have additional holdings in another (foreign) market

FLRG

Fidelity U.S. Multifactor ETF

FLRG Description

The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity U.S. Multifactor Index?. The fund normally invests at least 80% of its assets in securities included in the Fidelity U.S. Multifactor Index?. The Fidelity U.S. Multifactor Index? is designed to reflect the performance of stocks of large and mid-capitalization U.S. companies with attractive valuations, high quality profiles, positive momentum signals, and lower volatility than the broader market.

Grade (RS Rating)

Last Trade

$34.49

Average Daily Volume

50,694

Number of Holdings ^*

101

* may have additional holdings in another (foreign) market

Performance

Period	FHEQ	FLRG
30 Days	0.69%	0.46%
60 Days	3.18%	3.63%
90 Days	4.08%	4.79%
12 Months		30.45%

42 Overlapping Holdings

Symbol	Grade	Weight in FHEQ	Weight in FLRG	Overlap
ABBV	F	1.0%	1.29%	1.0%
ADP	B	0.16%	1.17%	0.16%
AMAT	F	0.75%	0.77%	0.75%
AMGN	D	0.26%	0.91%	0.26%
ANET	C	0.08%	0.68%	0.08%
AVGO	C	1.73%	1.93%	1.73%
BCC	C	0.07%	0.97%	0.07%
CI	D	0.65%	0.83%	0.65%
CL	D	0.55%	0.82%	0.55%
CMCSA	B	0.83%	0.41%	0.41%
CNC	F	0.06%	0.67%	0.06%
CRUS	F	0.06%	0.47%	0.06%
DBX	C	0.53%	0.5%	0.5%
GEN	B	0.13%	0.51%	0.13%
GOOGL	B	2.05%	3.46%	2.05%
HD	A	1.27%	1.62%	1.27%
JNJ	D	0.59%	1.35%	0.59%
KLAC	F	0.57%	0.65%	0.57%
LLY	F	0.84%	1.98%	0.84%
LMT	D	0.73%	1.2%	0.73%
LRCX	F	0.24%	0.63%	0.24%
MA	B	1.33%	1.64%	1.33%
META	C	2.96%	2.47%	2.47%
MSFT	D	5.62%	6.44%	5.62%
MSI	B	0.24%	0.64%	0.24%
NFLX	A	1.21%	0.69%	0.69%
NUE	D	0.33%	0.82%	0.33%
NVDA	A	7.54%	6.08%	6.08%
PCAR	C	0.43%	1.03%	0.43%
PG	C	0.82%	1.43%	0.82%
PGR	B	0.64%	1.25%	0.64%
PM	A	0.85%	1.01%	0.85%
PSA	C	0.18%	1.04%	0.18%
QCOM	F	0.82%	0.81%	0.81%
STLD	B	0.05%	0.81%	0.05%
T	A	0.63%	0.41%	0.41%
TMUS	B	0.07%	0.31%	0.07%
UTHR	C	0.06%	0.7%	0.06%
V	A	0.46%	1.66%	0.46%
VST	A	0.1%	1.76%	0.1%
VZ	C	0.2%	0.47%	0.2%
ZM	B	0.57%	0.56%	0.56%

FHEQ Overweight 127 Positions Relative to FLRG

Symbol	Grade	Weight
AAPL	C	7.05%
AMZN	B	3.61%
BRK.A	B	2.12%
GOOG	B	1.98%
JPM	A	1.75%
XOM	B	1.51%
CRM	B	1.23%
TSLA	A	1.15%
BAC	A	1.13%
ADBE	D	0.96%
CSCO	B	0.8%
WMT	A	0.79%
GILD	C	0.77%
BMY	A	0.77%
UNP	D	0.73%
TJX	A	0.72%
NEE	C	0.69%
TT	A	0.68%
CTAS	B	0.67%
MRK	F	0.66%
ECL	D	0.61%
SQ	A	0.6%
BDX	F	0.59%
NOC	D	0.59%
CSX	C	0.58%
UNH	C	0.58%
PFE	F	0.58%
CMG	C	0.55%
SEIC	B	0.54%
PYPL	B	0.54%
SCHW	A	0.53%
C	B	0.53%
MU	D	0.53%
MMC	D	0.52%
TRV	A	0.52%
DVN	F	0.51%
CVNA	A	0.51%
EXEL	B	0.5%
TXT	D	0.49%
IGT	F	0.49%
MSCI	B	0.49%
CAT	C	0.48%
ZBRA	B	0.48%
RTX	D	0.45%
COST	A	0.45%
GE	D	0.45%
DIS	B	0.42%
CAH	B	0.42%
AXP	B	0.42%
SPGI	D	0.41%
ALLE	D	0.4%
LDOS	C	0.39%
WM	B	0.38%
CACI	C	0.37%
CME	A	0.36%
BK	B	0.35%
MEDP	D	0.35%
TDC	D	0.34%
NOW	B	0.34%
ANF	C	0.33%
PPG	F	0.32%
WTW	B	0.31%
GRMN	B	0.31%
SKYW	B	0.3%
TMO	F	0.28%
INCY	C	0.28%
HWM	A	0.27%
EOG	A	0.27%
ALRM	C	0.26%
NSC	B	0.26%
MMM	D	0.22%
BIIB	F	0.22%
TROW	B	0.22%
CVS	F	0.21%
LHX	B	0.21%
AMT	D	0.21%
GL	C	0.2%
DOCU	B	0.2%
XEL	A	0.2%
CLX	A	0.19%
GAP	D	0.18%
IDXX	F	0.18%
HLT	A	0.18%
LNW	F	0.18%
PEGA	B	0.17%
GEHC	D	0.17%
FTI	A	0.17%
MS	A	0.16%
WDAY	C	0.16%
TPH	D	0.15%
MGM	D	0.15%
ETN	B	0.15%
SPG	A	0.15%
UBER	F	0.14%
F	C	0.14%
FTNT	B	0.14%
SOLV	F	0.13%
VEEV	C	0.13%
BAH	D	0.12%
DASH	A	0.12%
CINF	A	0.12%
QRVO	F	0.11%
NBIX	C	0.11%
KR	B	0.11%
ROST	D	0.1%
AME	A	0.1%
PLTK	B	0.1%
UHS	D	0.08%
DOC	D	0.08%
ALL	A	0.07%
LYFT	C	0.07%
L	A	0.07%
MDLZ	F	0.07%
BBWI	C	0.07%
IFF	D	0.05%
CCL	A	0.05%
ORCL	A	0.04%
RSG	A	0.04%
SCCO	F	0.04%
ED	C	0.04%
LPLA	A	0.03%
CVX	A	0.02%
MHO	D	0.02%
TWLO	A	0.02%
UNM	A	0.01%
NWL	B	0.01%
OGE	A	0.01%

FHEQ Underweight 59 Positions Relative to FLRG

Symbol	Grade	Weight
MCD	D	-1.28%
BKNG	A	-1.15%
NFG	A	-1.12%
PAYX	B	-1.04%
ALSN	B	-1.02%
ACGL	D	-1.02%
MLI	B	-1.0%
VRSK	B	-1.0%
SNA	B	-0.97%
HIG	B	-0.95%
NVR	D	-0.94%
CF	A	-0.91%
LEN	D	-0.91%
ORLY	B	-0.91%
PHM	D	-0.91%
IBM	C	-0.9%
DTM	A	-0.9%
EG	D	-0.9%
JXN	C	-0.89%
CRBG	B	-0.88%
VICI	C	-0.88%
SYF	B	-0.88%
OHI	B	-0.87%
MTG	D	-0.87%
AZO	C	-0.87%
HRB	D	-0.87%
ESNT	D	-0.87%
WSM	D	-0.86%
RGA	B	-0.83%
CTRA	B	-0.83%
MO	A	-0.82%
RDN	D	-0.81%
VLO	C	-0.81%
REGN	F	-0.8%
VRTX	D	-0.79%
BRBR	A	-0.77%
KMB	C	-0.75%
CRWD	B	-0.67%
CHRD	F	-0.67%
MOH	F	-0.65%
FICO	B	-0.63%
RPRX	F	-0.63%
APH	B	-0.61%
CDNS	B	-0.6%
MCK	A	-0.6%
NXPI	F	-0.55%
DELL	B	-0.54%
GDDY	A	-0.53%
CTSH	C	-0.52%
AKAM	F	-0.5%
ACIW	B	-0.5%
NTAP	C	-0.49%
DOX	D	-0.47%
CVLT	B	-0.47%
DLB	F	-0.45%
SWKS	F	-0.43%
QLYS	C	-0.42%
EA	A	-0.17%
FOXA	B	-0.14%