FHEQ vs. QQA ETF Comparison

Comparison of Fidelity Hedged Equity ETF (FHEQ) to Invesco QQQ Income Advantage ETF (QQA)

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

QQA

Invesco QQQ Income Advantage ETF

QQA Description

The fund seeks to achieve its investment objective by: (1) investing in a portfolio of U.S. equity securities designed to track the performance, before fees and expenses, of the NASDAQ-100 Index® or U.S.-listed exchange-traded funds (ETFs) that seek to track the performance of the index, or both, and (2) utilizing an options-based income strategy implemented through equity-linked notes (ELNs) with exposure to either the index or ETFs tracking the index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$50.25

Average Daily Volume

11,155

Number of Holdings ^*

101

* may have additional holdings in another (foreign) market

Performance

Period	FHEQ	QQA
30 Days	2.51%	4.30%
60 Days	3.80%	5.68%
90 Days	4.54%	6.30%
12 Months

36 Overlapping Holdings

Symbol	Grade	Weight in FHEQ	Weight in QQA	Overlap
AAPL	C	7.31%	6.56%	6.56%
ADBE	C	0.93%	1.11%	0.93%
ADP	B	0.16%	0.6%	0.16%
AMAT	F	0.7%	0.69%	0.69%
AMGN	D	0.24%	0.75%	0.24%
AMZN	C	3.64%	4.08%	3.64%
AVGO	D	1.49%	3.78%	1.49%
BIIB	F	0.21%	0.11%	0.11%
CMCSA	B	0.83%	0.82%	0.82%
COST	B	0.45%	1.99%	0.45%
CSCO	B	0.79%	1.15%	0.79%
CSX	B	0.43%	0.34%	0.34%
CTAS	B	0.66%	0.43%	0.43%
DASH	A	0.12%	0.32%	0.12%
FTNT	C	0.24%	0.36%	0.24%
GEHC	F	0.17%	0.18%	0.17%
GILD	C	0.73%	0.54%	0.54%
GOOG	C	1.74%	1.86%	1.74%
GOOGL	C	2.02%	1.94%	1.94%
IDXX	F	0.26%	0.17%	0.17%
KLAC	D	0.54%	0.41%	0.41%
LRCX	F	0.23%	0.45%	0.23%
MDLZ	F	0.07%	0.43%	0.07%
META	D	2.87%	3.69%	2.87%
MSFT	F	5.64%	5.91%	5.64%
MU	D	0.47%	0.53%	0.47%
NFLX	A	1.26%	1.75%	1.26%
NVDA	C	7.27%	6.68%	6.68%
PCAR	B	0.42%	0.29%	0.29%
PYPL	B	0.54%	0.43%	0.43%
QCOM	F	0.84%	0.88%	0.84%
ROST	C	0.1%	0.23%	0.1%
TMUS	B	0.29%	1.36%	0.29%
TSLA	B	1.26%	2.98%	1.26%
WDAY	B	0.16%	0.27%	0.16%
XEL	A	0.21%	0.19%	0.19%

FHEQ Overweight 132 Positions Relative to QQA

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 QQA

Symbol	Grade	Weight
PEP	F	-1.08%
AMD	F	-1.08%
LIN	D	-1.06%
INTU	C	-0.95%
ISRG	A	-0.93%
TXN	C	-0.91%
BKNG	A	-0.83%
HON	B	-0.74%
PANW	C	-0.62%
VRTX	F	-0.6%
SBUX	A	-0.55%
ADI	D	-0.51%
INTC	D	-0.51%
MELI	D	-0.47%
SNPS	B	-0.4%
REGN	F	-0.4%
MAR	B	-0.39%
CDNS	B	-0.39%
PDD	F	-0.38%
MRVL	B	-0.38%
CRWD	B	-0.38%
CEG	D	-0.35%
ORLY	B	-0.35%
ADSK	A	-0.32%
ASML	F	-0.31%
ABNB	C	-0.29%
ROP	B	-0.29%
CHTR	C	-0.28%
CPRT	A	-0.27%
NXPI	D	-0.27%
FANG	D	-0.26%
TTD	B	-0.26%
AEP	D	-0.25%
MNST	C	-0.25%
PAYX	C	-0.25%
FAST	B	-0.23%
ODFL	B	-0.23%
EA	A	-0.21%
BKR	B	-0.21%
KDP	D	-0.21%
VRSK	A	-0.2%
LULU	C	-0.19%
KHC	F	-0.19%
CTSH	B	-0.19%
DDOG	A	-0.19%
EXC	C	-0.19%
TEAM	A	-0.19%
AZN	D	-0.18%
CCEP	C	-0.17%
MCHP	D	-0.16%
ZS	C	-0.15%
DXCM	D	-0.15%
TTWO	A	-0.15%
ON	D	-0.14%
CSGP	D	-0.14%
ANSS	B	-0.14%
CDW	F	-0.12%
ILMN	D	-0.11%
WBD	C	-0.11%
GFS	C	-0.11%
MDB	C	-0.1%
ARM	D	-0.08%
MRNA	F	-0.07%
DLTR	F	-0.07%
SMCI	F	-0.05%