FHEQ vs. OUSA ETF Comparison

Comparison of Fidelity Hedged Equity ETF (FHEQ) to O'Shares FTSE U.S. Quality Dividend ETF (OUSA)

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

$27.84

Average Daily Volume

22,683

Number of Holdings ^*

169

* may have additional holdings in another (foreign) market

OUSA

O'Shares FTSE U.S. Quality Dividend ETF

OUSA Description

The investment seeks to track the performance (before fees and expenses) of its target index, the FTSE US Qual / Vol / Yield Factor 5% Capped Index (the "target index"). The U.S. target index is designed to measure the performance of publicly-listed large-capitalization and mid-capitalization dividend-paying issuers in the United States that meet certain market capitalization, liquidity, high quality, low volatility and dividend yield thresholds, as determined by FTSE-Russell (the "index provider"). Under normal market conditions, the fund will invest at least 80% of its total assets in the components of the U.S. target index.

Grade (RS Rating)

Last Trade

$54.34

Average Daily Volume

35,911

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FHEQ	OUSA
30 Days	1.74%	-0.13%
60 Days	5.17%	2.42%
90 Days	5.89%	5.68%
12 Months		26.10%

49 Overlapping Holdings

Symbol	Grade	Weight in FHEQ	Weight in OUSA	Overlap
AAPL	C	7.05%	4.95%	4.95%
ABBV	F	1.0%	1.04%	1.0%
ADP	A	0.16%	0.77%	0.16%
AME	A	0.1%	0.14%	0.1%
AMGN	F	0.26%	0.33%	0.26%
AVGO	C	1.73%	0.45%	0.45%
CAT	B	0.48%	0.64%	0.48%
CL	F	0.55%	0.32%	0.32%
CMCSA	B	0.83%	3.82%	0.83%
COST	B	0.45%	0.82%	0.45%
CSCO	A	0.8%	3.07%	0.8%
CSX	B	0.58%	0.29%	0.29%
CTAS	B	0.67%	1.12%	0.67%
ETN	B	0.15%	0.32%	0.15%
GILD	B	0.77%	0.21%	0.21%
GOOGL	C	2.05%	4.1%	2.05%
GRMN	A	0.31%	0.52%	0.31%
HD	B	1.27%	5.17%	1.27%
JNJ	D	0.59%	4.28%	0.59%
JPM	A	1.75%	0.45%	0.45%
KR	A	0.11%	0.08%	0.08%
LLY	F	0.84%	0.96%	0.84%
LMT	D	0.73%	1.09%	0.73%
MA	B	1.33%	3.87%	1.33%
MDLZ	F	0.07%	0.23%	0.07%
MMC	D	0.52%	2.18%	0.52%
MRK	F	0.66%	4.09%	0.66%
MSCI	B	0.49%	0.51%	0.49%
MSFT	C	5.62%	4.83%	4.83%
MSI	B	0.24%	0.35%	0.24%
NOC	D	0.59%	0.14%	0.14%
ORCL	A	0.04%	0.68%	0.04%
PCAR	B	0.43%	0.41%	0.41%
PG	C	0.82%	2.5%	0.82%
PM	B	0.85%	0.58%	0.58%
QCOM	F	0.82%	0.66%	0.66%
SPGI	C	0.41%	0.42%	0.41%
T	A	0.63%	0.74%	0.63%
TJX	A	0.72%	1.34%	0.72%
TMO	F	0.28%	0.14%	0.14%
TMUS	A	0.07%	1.03%	0.07%
TROW	A	0.22%	0.71%	0.22%
TT	B	0.68%	0.24%	0.24%
UNH	B	0.58%	1.88%	0.58%
UNP	D	0.73%	0.76%	0.73%
V	A	0.46%	5.2%	0.46%
VZ	D	0.2%	0.71%	0.2%
WM	A	0.38%	0.38%	0.38%
WMT	A	0.79%	0.46%	0.46%

FHEQ Overweight 120 Positions Relative to OUSA

Symbol	Grade	Weight
NVDA	A	7.54%
AMZN	A	3.61%
META	B	2.96%
BRK.A	B	2.12%
GOOG	C	1.98%
XOM	B	1.51%
CRM	B	1.23%
NFLX	A	1.21%
TSLA	B	1.15%
BAC	A	1.13%
ADBE	C	0.96%
BMY	B	0.77%
AMAT	F	0.75%
NEE	D	0.69%
CI	D	0.65%
PGR	A	0.64%
ECL	C	0.61%
SQ	B	0.6%
BDX	F	0.59%
PFE	F	0.58%
KLAC	F	0.57%
ZM	B	0.57%
CMG	B	0.55%
SEIC	A	0.54%
PYPL	A	0.54%
SCHW	B	0.53%
C	B	0.53%
DBX	B	0.53%
MU	D	0.53%
TRV	B	0.52%
DVN	F	0.51%
CVNA	B	0.51%
EXEL	B	0.5%
TXT	D	0.49%
IGT	F	0.49%
ZBRA	B	0.48%
RTX	D	0.45%
GE	D	0.45%
DIS	B	0.42%
CAH	B	0.42%
AXP	B	0.42%
ALLE	D	0.4%
LDOS	C	0.39%
CACI	C	0.37%
CME	B	0.36%
BK	B	0.35%
MEDP	D	0.35%
TDC	F	0.34%
NOW	A	0.34%
NUE	D	0.33%
ANF	C	0.33%
PPG	F	0.32%
WTW	A	0.31%
SKYW	B	0.3%
INCY	B	0.28%
HWM	B	0.27%
EOG	A	0.27%
ALRM	C	0.26%
NSC	B	0.26%
LRCX	F	0.24%
MMM	C	0.22%
BIIB	F	0.22%
CVS	F	0.21%
LHX	B	0.21%
AMT	F	0.21%
GL	B	0.2%
DOCU	B	0.2%
XEL	A	0.2%
CLX	A	0.19%
GAP	B	0.18%
IDXX	F	0.18%
HLT	A	0.18%
PSA	D	0.18%
LNW	F	0.18%
PEGA	B	0.17%
GEHC	D	0.17%
FTI	B	0.17%
MS	A	0.16%
WDAY	B	0.16%
TPH	C	0.15%
MGM	D	0.15%
SPG	A	0.15%
UBER	F	0.14%
F	C	0.14%
FTNT	B	0.14%
SOLV	C	0.13%
VEEV	B	0.13%
GEN	B	0.13%
BAH	C	0.12%
DASH	A	0.12%
CINF	A	0.12%
QRVO	F	0.11%
NBIX	C	0.11%
ROST	D	0.1%
VST	B	0.1%
PLTK	B	0.1%
UHS	D	0.08%
ANET	C	0.08%
DOC	C	0.08%
ALL	B	0.07%
LYFT	B	0.07%
BCC	B	0.07%
L	A	0.07%
BBWI	C	0.07%
UTHR	B	0.06%
CRUS	F	0.06%
CNC	F	0.06%
IFF	F	0.05%
CCL	B	0.05%
STLD	C	0.05%
RSG	B	0.04%
SCCO	F	0.04%
ED	D	0.04%
LPLA	A	0.03%
CVX	A	0.02%
MHO	D	0.02%
TWLO	B	0.02%
UNM	A	0.01%
NWL	B	0.01%
OGE	B	0.01%

FHEQ Underweight 49 Positions Relative to OUSA

Symbol	Grade	Weight
MCD	C	-3.34%
ACN	B	-2.79%
TXN	B	-2.52%
ABT	C	-1.46%
LOW	B	-1.45%
ITW	B	-1.33%
FAST	B	-0.86%
PEP	D	-0.81%
KO	F	-0.78%
CB	C	-0.67%
SBUX	B	-0.67%
HON	B	-0.67%
UPS	C	-0.66%
MO	A	-0.63%
MCO	C	-0.61%
YUM	B	-0.58%
IBM	D	-0.57%
PAYX	B	-0.54%
EA	A	-0.54%
OTIS	D	-0.5%
ZTS	D	-0.47%
APH	B	-0.44%
CTSH	A	-0.41%
AON	B	-0.39%
NKE	F	-0.38%
EBAY	C	-0.33%
GD	C	-0.33%
TSCO	D	-0.32%
CBOE	D	-0.31%
MDT	D	-0.29%
GWW	B	-0.29%
SYK	A	-0.29%
SNA	A	-0.27%
HSY	F	-0.22%
DE	D	-0.21%
ELV	F	-0.2%
KMB	D	-0.2%
A	F	-0.17%
ADI	D	-0.16%
EXPD	C	-0.16%
INTU	A	-0.16%
IEX	B	-0.16%
VRSK	A	-0.15%
CMI	A	-0.15%
GGG	B	-0.15%
GIS	F	-0.11%
TGT	C	-0.1%
KVUE	A	-0.08%
CHD	A	-0.06%