FHEQ vs. IWX ETF Comparison

Comparison of Fidelity Hedged Equity ETF (FHEQ) to iShares Russell Top 200 Value ETF (IWX)

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

$27.87

Average Daily Volume

24,517

Number of Holdings ^*

168

* may have additional holdings in another (foreign) market

IWX

iShares Russell Top 200 Value ETF

IWX Description

The investment seeks to track the investment results of an index composed of large-capitalization U.S. equities that exhibit value characteristics. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. It seeks to track the investment results of the Russell Top 200 Value Index (the "underlying index"), which is a style factor weighted index that measures the performance of the largest capitalization value sector of the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$84.27

Average Daily Volume

315,888

Number of Holdings ^*

158

* may have additional holdings in another (foreign) market

Performance

Period	FHEQ	IWX
30 Days	2.51%	2.62%
60 Days	3.80%	4.46%
90 Days	4.54%	6.64%
12 Months		28.30%

68 Overlapping Holdings

Symbol	Grade	Weight in FHEQ	Weight in IWX	Overlap
ABBV	D	1.0%	1.0%	1.0%
ADP	B	0.16%	0.05%	0.05%
AMAT	F	0.7%	0.07%	0.07%
AMGN	D	0.24%	0.2%	0.2%
AXP	A	0.43%	0.61%	0.43%
BAC	A	1.17%	1.91%	1.17%
BDX	F	0.59%	0.39%	0.39%
BLK	C	0.23%	0.93%	0.23%
BMY	B	0.68%	0.69%	0.68%
BRK.A	B	2.19%	5.18%	2.19%
C	A	0.54%	0.79%	0.54%
CAT	B	0.48%	0.97%	0.48%
CI	F	0.63%	0.49%	0.49%
CL	D	0.58%	0.21%	0.21%
CMCSA	B	0.83%	0.99%	0.83%
CME	A	0.37%	0.49%	0.37%
CRM	B	1.09%	0.28%	0.28%
CSCO	B	0.79%	1.4%	0.79%
CSX	B	0.43%	0.41%	0.41%
CTAS	B	0.66%	0.02%	0.02%
CVS	D	0.22%	0.4%	0.22%
CVX	A	0.02%	1.68%	0.02%
DASH	A	0.12%	0.04%	0.04%
DIS	B	0.57%	1.27%	0.57%
ECL	D	0.62%	0.05%	0.05%
EOG	A	0.43%	0.47%	0.43%
ETN	A	0.15%	0.86%	0.15%
F	C	0.15%	0.26%	0.15%
FTNT	C	0.24%	0.07%	0.07%
GE	D	0.45%	0.91%	0.45%
GILD	C	0.73%	0.66%	0.66%
HD	A	1.32%	0.49%	0.49%
JNJ	D	0.61%	2.24%	0.61%
JPM	A	1.82%	4.24%	1.82%
LMT	D	0.69%	0.47%	0.47%
MDLZ	F	0.07%	0.52%	0.07%
MMC	B	0.52%	0.57%	0.52%
MMM	D	0.22%	0.35%	0.22%
MS	A	0.16%	0.88%	0.16%
MSI	B	0.26%	0.26%	0.26%
MU	D	0.47%	0.64%	0.47%
NEE	D	0.73%	0.95%	0.73%
NOC	D	0.56%	0.41%	0.41%
NSC	B	0.26%	0.36%	0.26%
PCAR	B	0.42%	0.35%	0.35%
PFE	D	0.56%	0.85%	0.56%
PG	A	0.87%	1.87%	0.87%
PGR	A	0.63%	0.14%	0.14%
PM	B	0.92%	1.2%	0.92%
PSA	D	0.19%	0.27%	0.19%
PYPL	B	0.54%	0.53%	0.53%
QCOM	F	0.84%	0.07%	0.07%
RSG	A	0.2%	0.26%	0.2%
RTX	C	0.44%	0.95%	0.44%
SCHW	B	0.56%	0.65%	0.56%
SPGI	C	0.28%	0.95%	0.28%
T	A	0.67%	0.98%	0.67%
TJX	A	0.73%	0.33%	0.33%
TMO	F	0.26%	1.18%	0.26%
TMUS	B	0.29%	0.69%	0.29%
TRV	B	0.49%	0.36%	0.36%
TT	A	0.69%	0.37%	0.37%
UNH	C	0.57%	3.06%	0.57%
UNP	C	0.73%	0.45%	0.45%
VZ	C	0.18%	1.06%	0.18%
WFC	A	0.15%	1.57%	0.15%
WMT	A	0.8%	2.2%	0.8%
XOM	B	1.54%	3.23%	1.54%

FHEQ Overweight 100 Positions Relative to IWX

Symbol	Grade	Weight
AAPL	C	7.31%
NVDA	C	7.27%
MSFT	F	5.64%
AMZN	C	3.64%
META	D	2.87%
GOOGL	C	2.02%
GOOG	C	1.74%
AVGO	D	1.49%
MA	C	1.34%
TSLA	B	1.26%
NFLX	A	1.26%
ADBE	C	0.93%
LLY	F	0.76%
MRK	F	0.69%
SQ	B	0.59%
SEIC	B	0.54%
KLAC	D	0.54%
DVN	F	0.53%
ZM	B	0.52%
CVNA	B	0.52%
TXT	D	0.51%
DBX	B	0.51%
MSCI	C	0.49%
CMG	B	0.49%
ZBRA	B	0.47%
V	A	0.47%
IGT	F	0.45%
COST	B	0.45%
ALLE	D	0.44%
EXEL	B	0.43%
CAH	B	0.4%
ALRM	C	0.4%
WM	A	0.38%
BK	A	0.36%
TDC	D	0.35%
PPG	F	0.34%
NOW	A	0.34%
ANF	C	0.33%
LDOS	C	0.32%
NUE	C	0.32%
MEDP	D	0.31%
GRMN	B	0.31%
CACI	D	0.3%
SKYW	B	0.29%
HWM	A	0.27%
INCY	C	0.27%
IDXX	F	0.26%
AMT	D	0.24%
TROW	B	0.23%
LRCX	F	0.23%
LHX	C	0.23%
AME	A	0.22%
MGM	D	0.22%
BIIB	F	0.21%
XEL	A	0.21%
GL	B	0.2%
CLX	B	0.2%
GAP	C	0.18%
DOCU	A	0.18%
HLT	A	0.18%
GEHC	F	0.17%
LNW	D	0.17%
FTI	A	0.17%
WDAY	B	0.16%
SPG	B	0.16%
PEGA	A	0.16%
TPH	D	0.15%
UBER	D	0.14%
GEN	B	0.13%
VEEV	C	0.12%
CINF	A	0.12%
SOLV	C	0.12%
NBIX	C	0.11%
BBWI	D	0.11%
QRVO	F	0.11%
VST	B	0.11%
KR	B	0.11%
ROST	C	0.1%
PLTK	B	0.1%
MKL	A	0.09%
BAH	F	0.09%
ANET	C	0.08%
DOC	D	0.08%
ALL	A	0.07%
BCC	B	0.07%
L	A	0.07%
TENB	C	0.06%
CRUS	D	0.06%
LYFT	C	0.06%
BLD	D	0.05%
UTHR	C	0.05%
ORCL	B	0.04%
QGEN	D	0.04%
SCCO	F	0.04%
LPLA	A	0.03%
MHO	D	0.02%
TWLO	A	0.02%
UNM	A	0.01%
NWL	B	0.01%
OGE	B	0.01%

FHEQ Underweight 90 Positions Relative to IWX

Symbol	Grade	Weight
ACN	C	-1.34%
LIN	D	-1.3%
ABT	B	-1.21%
MCD	D	-1.19%
IBM	C	-1.13%
TXN	C	-0.97%
LOW	D	-0.93%
DHR	F	-0.9%
GS	A	-0.83%
COP	C	-0.79%
BSX	B	-0.77%
HON	B	-0.76%
CB	C	-0.7%
MDT	D	-0.68%
PLD	D	-0.63%
ADI	D	-0.62%
KO	D	-0.62%
INTC	D	-0.62%
DE	A	-0.61%
SYK	C	-0.6%
UPS	C	-0.59%
MO	A	-0.58%
SO	D	-0.58%
PH	A	-0.54%
GEV	B	-0.54%
ICE	C	-0.53%
DUK	C	-0.52%
PNC	B	-0.5%
FI	A	-0.5%
BA	F	-0.49%
EQIX	A	-0.49%
WELL	A	-0.49%
USB	A	-0.47%
ELV	F	-0.47%
GD	F	-0.47%
AMD	F	-0.45%
AON	A	-0.45%
REGN	F	-0.44%
EMR	A	-0.44%
APD	A	-0.43%
KKR	A	-0.43%
MRVL	B	-0.42%
COF	B	-0.42%
TGT	F	-0.42%
CRH	A	-0.41%
FDX	B	-0.4%
CARR	D	-0.38%
GM	B	-0.38%
MAR	B	-0.38%
FCX	D	-0.37%
SLB	C	-0.37%
TFC	A	-0.37%
CEG	D	-0.36%
VRTX	F	-0.36%
ROP	B	-0.35%
SRE	A	-0.35%
JCI	C	-0.34%
TDG	D	-0.33%
PSX	C	-0.33%
MPC	D	-0.33%
AEP	D	-0.31%
MET	A	-0.3%
AIG	B	-0.3%
ITW	B	-0.3%
D	C	-0.29%
HCA	F	-0.29%
PEP	F	-0.28%
NEM	D	-0.28%
VLO	C	-0.27%
MCK	B	-0.27%
STZ	D	-0.23%
APH	A	-0.21%
NKE	D	-0.21%
KDP	D	-0.21%
EW	C	-0.2%
OXY	D	-0.2%
DELL	C	-0.18%
KHC	F	-0.17%
KMB	D	-0.16%
SBUX	A	-0.15%
APO	B	-0.13%
ZTS	D	-0.08%
MRNA	F	-0.07%
EL	F	-0.06%
BKNG	A	-0.06%
SHW	A	-0.05%
MNST	C	-0.04%
AZO	C	-0.03%
ORLY	B	-0.03%
CPRT	A	-0.02%