FHEQ vs. QLD ETF Comparison

Comparison of Fidelity Hedged Equity ETF (FHEQ) to ProShares Ultra QQQ (QLD)

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

QLD

ProShares Ultra QQQ

QLD Description

The investment seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the NASDAQ-100 Index®. The fund invests in securities and derivatives that ProShare Advisors believes, in combination, should have similar daily return characteristics as two times (2x) the daily return of the index. The index, a modified market capitalization-weighted index, includes 100 of the largest non-financial domestic and international issues listed on the NASDAQ Stock Market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$106.72

Average Daily Volume

2,632,901

Number of Holdings ^*

101

* may have additional holdings in another (foreign) market

Performance

Period	FHEQ	QLD
30 Days	2.51%	6.38%
60 Days	3.80%	8.03%
90 Days	4.54%	8.70%
12 Months		54.59%

36 Overlapping Holdings

Symbol	Grade	Weight in FHEQ	Weight in QLD	Overlap
AAPL	C	7.31%	6.06%	6.06%
ADBE	C	0.93%	1.08%	0.93%
ADP	B	0.16%	0.57%	0.16%
AMAT	F	0.7%	0.69%	0.69%
AMGN	D	0.24%	0.74%	0.24%
AMZN	C	3.64%	3.98%	3.64%
AVGO	D	1.49%	3.68%	1.49%
BIIB	F	0.21%	0.11%	0.11%
CMCSA	B	0.83%	0.78%	0.78%
COST	B	0.45%	1.89%	0.45%
CSCO	B	0.79%	1.09%	0.79%
CSX	B	0.43%	0.32%	0.32%
CTAS	B	0.66%	0.41%	0.41%
DASH	A	0.12%	0.31%	0.12%
FTNT	C	0.24%	0.34%	0.24%
GEHC	F	0.17%	0.18%	0.17%
GILD	C	0.73%	0.53%	0.53%
GOOG	C	1.74%	1.79%	1.74%
GOOGL	C	2.02%	1.86%	1.86%
IDXX	F	0.26%	0.16%	0.16%
KLAC	D	0.54%	0.4%	0.4%
LRCX	F	0.23%	0.44%	0.23%
MDLZ	F	0.07%	0.4%	0.07%
META	D	2.87%	3.57%	2.87%
MSFT	F	5.64%	5.6%	5.6%
MU	D	0.47%	0.51%	0.47%
NFLX	A	1.26%	1.63%	1.26%
NVDA	C	7.27%	6.35%	6.35%
PCAR	B	0.42%	0.28%	0.28%
PYPL	B	0.54%	0.41%	0.41%
QCOM	F	0.84%	0.82%	0.82%
ROST	C	0.1%	0.21%	0.1%
TMUS	B	0.29%	1.29%	0.29%
TSLA	B	1.26%	2.83%	1.26%
WDAY	B	0.16%	0.27%	0.16%
XEL	A	0.21%	0.18%	0.18%

FHEQ Overweight 132 Positions Relative to QLD

Symbol	Grade	Weight
BRK.A	B	2.19%
JPM	A	1.82%
XOM	B	1.54%
MA	C	1.34%
HD	A	1.32%
BAC	A	1.17%
CRM	B	1.09%
ABBV	D	1.0%
PM	B	0.92%
PG	A	0.87%
WMT	A	0.8%
LLY	F	0.76%
NEE	D	0.73%
UNP	C	0.73%
TJX	A	0.73%
MRK	F	0.69%
TT	A	0.69%
LMT	D	0.69%
BMY	B	0.68%
T	A	0.67%
CI	F	0.63%
PGR	A	0.63%
ECL	D	0.62%
JNJ	D	0.61%
SQ	B	0.59%
BDX	F	0.59%
CL	D	0.58%
UNH	C	0.57%
DIS	B	0.57%
NOC	D	0.56%
SCHW	B	0.56%
PFE	D	0.56%
SEIC	B	0.54%
C	A	0.54%
DVN	F	0.53%
ZM	B	0.52%
CVNA	B	0.52%
MMC	B	0.52%
TXT	D	0.51%
DBX	B	0.51%
MSCI	C	0.49%
CMG	B	0.49%
TRV	B	0.49%
CAT	B	0.48%
ZBRA	B	0.47%
V	A	0.47%
GE	D	0.45%
IGT	F	0.45%
ALLE	D	0.44%
RTX	C	0.44%
EOG	A	0.43%
AXP	A	0.43%
EXEL	B	0.43%
CAH	B	0.4%
ALRM	C	0.4%
WM	A	0.38%
CME	A	0.37%
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%
SPGI	C	0.28%
HWM	A	0.27%
INCY	C	0.27%
MSI	B	0.26%
TMO	F	0.26%
NSC	B	0.26%
AMT	D	0.24%
BLK	C	0.23%
TROW	B	0.23%
LHX	C	0.23%
AME	A	0.22%
MGM	D	0.22%
CVS	D	0.22%
MMM	D	0.22%
RSG	A	0.2%
GL	B	0.2%
CLX	B	0.2%
PSA	D	0.19%
GAP	C	0.18%
DOCU	A	0.18%
HLT	A	0.18%
VZ	C	0.18%
LNW	D	0.17%
FTI	A	0.17%
SPG	B	0.16%
MS	A	0.16%
PEGA	A	0.16%
F	C	0.15%
TPH	D	0.15%
ETN	A	0.15%
WFC	A	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%
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%
CVX	A	0.02%
MHO	D	0.02%
TWLO	A	0.02%
UNM	A	0.01%
NWL	B	0.01%
OGE	B	0.01%

FHEQ Underweight 65 Positions Relative to QLD

Symbol	Grade	Weight
PEP	F	-1.04%
AMD	F	-1.03%
LIN	D	-1.0%
INTU	C	-0.9%
ISRG	A	-0.87%
TXN	C	-0.86%
BKNG	A	-0.77%
HON	B	-0.69%
PANW	C	-0.6%
VRTX	F	-0.58%
SBUX	A	-0.52%
INTC	D	-0.49%
ADI	D	-0.48%
MELI	D	-0.45%
REGN	F	-0.4%
SNPS	B	-0.39%
CDNS	B	-0.38%
MAR	B	-0.37%
CRWD	B	-0.37%
MRVL	B	-0.36%
PDD	F	-0.35%
ORLY	B	-0.33%
CEG	D	-0.32%
ADSK	A	-0.31%
ASML	F	-0.29%
ROP	B	-0.28%
CHTR	C	-0.27%
ABNB	C	-0.27%
CPRT	A	-0.26%
NXPI	D	-0.26%
TTD	B	-0.26%
FANG	D	-0.25%
MNST	C	-0.25%
PAYX	C	-0.24%
AEP	D	-0.23%
FAST	B	-0.22%
ODFL	B	-0.22%
KDP	D	-0.21%
BKR	B	-0.2%
EA	A	-0.2%
TEAM	A	-0.19%
CTSH	B	-0.19%
VRSK	A	-0.19%
LULU	C	-0.18%
KHC	F	-0.18%
DDOG	A	-0.18%
AZN	D	-0.17%
EXC	C	-0.17%
MCHP	D	-0.16%
CCEP	C	-0.16%
ZS	C	-0.15%
TTWO	A	-0.15%
ANSS	B	-0.14%
CSGP	D	-0.14%
DXCM	D	-0.13%
ON	D	-0.13%
ILMN	D	-0.11%
GFS	C	-0.11%
WBD	C	-0.11%
CDW	F	-0.11%
MDB	C	-0.1%
ARM	D	-0.08%
MRNA	F	-0.07%
DLTR	F	-0.06%
SMCI	F	-0.05%