FHEQ vs. TMSL ETF Comparison

Comparison of Fidelity Hedged Equity ETF (FHEQ) to T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Small-Mid Cap ETF (TMSL)

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

TMSL

T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Small-Mid Cap ETF

TMSL Description

The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in assets issued by small- or mid-cap companies. The fund may at times invest significantly in certain sectors, such as the information technology sector.

Grade (RS Rating)

Last Trade

$33.74

Average Daily Volume

64,941

Number of Holdings ^*

256

* may have additional holdings in another (foreign) market

Performance

Period	FHEQ	TMSL
30 Days	1.74%	2.79%
60 Days	5.17%	7.28%
90 Days	5.89%	8.63%
12 Months		34.07%

15 Overlapping Holdings

Symbol	Grade	Weight in FHEQ	Weight in TMSL	Overlap
ANET	C	0.08%	0.1%	0.08%
BBWI	C	0.07%	0.38%	0.07%
CVNA	B	0.51%	0.5%	0.5%
DOCU	B	0.2%	0.71%	0.2%
FTI	B	0.17%	1.23%	0.17%
GEN	B	0.13%	0.64%	0.13%
HWM	B	0.27%	0.29%	0.27%
LDOS	C	0.39%	0.65%	0.39%
LPLA	A	0.03%	0.27%	0.03%
NBIX	C	0.11%	0.29%	0.11%
STLD	C	0.05%	0.54%	0.05%
TDC	F	0.34%	0.14%	0.14%
TXT	D	0.49%	1.17%	0.49%
UHS	D	0.08%	0.34%	0.08%
ZBRA	B	0.48%	0.57%	0.48%

FHEQ Overweight 154 Positions Relative to TMSL

Symbol	Grade	Weight
NVDA	A	7.54%
AAPL	C	7.05%
MSFT	C	5.62%
AMZN	A	3.61%
META	B	2.96%
BRK.A	B	2.12%
GOOGL	C	2.05%
GOOG	C	1.98%
JPM	A	1.75%
AVGO	C	1.73%
XOM	B	1.51%
MA	B	1.33%
HD	B	1.27%
CRM	B	1.23%
NFLX	A	1.21%
TSLA	B	1.15%
BAC	A	1.13%
ABBV	F	1.0%
ADBE	C	0.96%
PM	B	0.85%
LLY	F	0.84%
CMCSA	B	0.83%
QCOM	F	0.82%
PG	C	0.82%
CSCO	A	0.8%
WMT	A	0.79%
GILD	B	0.77%
BMY	B	0.77%
AMAT	F	0.75%
LMT	D	0.73%
UNP	D	0.73%
TJX	A	0.72%
NEE	D	0.69%
TT	B	0.68%
CTAS	B	0.67%
MRK	F	0.66%
CI	D	0.65%
PGR	A	0.64%
T	A	0.63%
ECL	C	0.61%
SQ	B	0.6%
BDX	F	0.59%
JNJ	D	0.59%
NOC	D	0.59%
CSX	B	0.58%
UNH	B	0.58%
PFE	F	0.58%
KLAC	F	0.57%
ZM	B	0.57%
CL	F	0.55%
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%
MMC	D	0.52%
TRV	B	0.52%
DVN	F	0.51%
EXEL	B	0.5%
IGT	F	0.49%
MSCI	B	0.49%
CAT	B	0.48%
V	A	0.46%
RTX	D	0.45%
COST	B	0.45%
GE	D	0.45%
PCAR	B	0.43%
DIS	B	0.42%
CAH	B	0.42%
AXP	B	0.42%
SPGI	C	0.41%
ALLE	D	0.4%
WM	A	0.38%
CACI	C	0.37%
CME	B	0.36%
BK	B	0.35%
MEDP	D	0.35%
NOW	A	0.34%
NUE	D	0.33%
ANF	C	0.33%
PPG	F	0.32%
WTW	A	0.31%
GRMN	A	0.31%
SKYW	B	0.3%
TMO	F	0.28%
INCY	B	0.28%
EOG	A	0.27%
AMGN	F	0.26%
ALRM	C	0.26%
NSC	B	0.26%
LRCX	F	0.24%
MSI	B	0.24%
MMM	C	0.22%
BIIB	F	0.22%
TROW	A	0.22%
CVS	F	0.21%
LHX	B	0.21%
AMT	F	0.21%
GL	B	0.2%
VZ	D	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%
MS	A	0.16%
ADP	A	0.16%
WDAY	B	0.16%
TPH	C	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	C	0.13%
VEEV	B	0.13%
BAH	C	0.12%
DASH	A	0.12%
CINF	A	0.12%
QRVO	F	0.11%
KR	A	0.11%
ROST	D	0.1%
AME	A	0.1%
VST	B	0.1%
PLTK	B	0.1%
DOC	C	0.08%
ALL	B	0.07%
LYFT	B	0.07%
BCC	B	0.07%
L	A	0.07%
TMUS	A	0.07%
MDLZ	F	0.07%
UTHR	B	0.06%
CRUS	F	0.06%
CNC	F	0.06%
IFF	F	0.05%
CCL	B	0.05%
ORCL	A	0.04%
RSG	B	0.04%
SCCO	F	0.04%
ED	D	0.04%
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 241 Positions Relative to TMSL

Symbol	Grade	Weight
SWK	F	-1.44%
SEM	C	-1.35%
CPAY	A	-1.23%
MKSI	C	-1.19%
WAL	B	-1.15%
BPOP	C	-1.14%
THC	B	-1.13%
RNR	D	-0.95%
DT	C	-0.87%
REXR	F	-0.84%
ESAB	B	-0.81%
WBS	A	-0.8%
LAMR	D	-0.79%
RPM	A	-0.77%
SSNC	C	-0.75%
GDDY	B	-0.75%
HII	F	-0.75%
VOYA	B	-0.67%
BFAM	F	-0.65%
RL	B	-0.63%
WU	F	-0.62%
TFX	F	-0.61%
RS	C	-0.61%
TOL	B	-0.6%
INSM	C	-0.59%
CUBE	D	-0.59%
NTNX	B	-0.59%
BDC	C	-0.59%
NI	A	-0.59%
VNO	C	-0.58%
CRBG	C	-0.58%
SAIA	B	-0.56%
HBAN	A	-0.56%
PATK	C	-0.56%
SITE	D	-0.55%
EME	B	-0.54%
OPCH	F	-0.54%
CF	B	-0.53%
BURL	C	-0.53%
ENTG	F	-0.52%
FBP	B	-0.52%
XPRO	F	-0.52%
STNG	F	-0.52%
RGA	A	-0.51%
MNDY	C	-0.51%
WYNN	C	-0.51%
MWA	B	-0.51%
WING	D	-0.5%
SUM	B	-0.5%
AGCO	F	-0.5%
VTRS	B	-0.5%
CW	C	-0.49%
IOT	B	-0.49%
CLH	B	-0.48%
APG	C	-0.48%
EWBC	B	-0.48%
WSC	F	-0.48%
COOP	B	-0.47%
DUOL	A	-0.47%
ST	F	-0.46%
BLX	A	-0.46%
EQH	B	-0.46%
EXAS	F	-0.45%
TYL	B	-0.45%
TTC	F	-0.45%
EHC	B	-0.45%
OMF	A	-0.45%
MIDD	D	-0.44%
MORN	B	-0.44%
TOST	A	-0.43%
BRX	A	-0.43%
HUBB	C	-0.43%
RRC	B	-0.43%
JBL	C	-0.42%
TKR	F	-0.42%
PLNT	A	-0.41%
LRN	B	-0.41%
KFY	B	-0.41%
FMC	F	-0.41%
NVR	D	-0.41%
HOLX	D	-0.4%
TNL	A	-0.4%
EG	D	-0.4%
VFC	C	-0.39%
AEE	B	-0.39%
AWI	B	-0.39%
FND	F	-0.39%
DKNG	B	-0.39%
BCO	F	-0.39%
RYN	F	-0.39%
SUI	F	-0.38%
DPZ	C	-0.38%
NCLH	B	-0.37%
PHIN	B	-0.37%
VRRM	D	-0.37%
PR	C	-0.36%
REG	A	-0.36%
PTC	B	-0.36%
NXST	C	-0.35%
FITB	A	-0.35%
NWS	B	-0.35%
PCVX	D	-0.34%
RNA	B	-0.34%
UPWK	C	-0.33%
STGW	B	-0.33%
FLO	F	-0.33%
ULTA	C	-0.33%
DRH	C	-0.32%
BPMC	C	-0.32%
GEO	B	-0.32%
KMPR	A	-0.32%
DOLE	C	-0.32%
USFD	B	-0.32%
MAIN	A	-0.31%
DOX	C	-0.31%
SKWD	A	-0.31%
RVTY	C	-0.31%
MANH	C	-0.3%
MOH	F	-0.3%
LPX	A	-0.3%
OC	A	-0.3%
POR	D	-0.3%
EVRI	A	-0.29%
SHOO	D	-0.29%
BERY	D	-0.28%
TECH	D	-0.28%
OFG	B	-0.28%
ASGN	D	-0.28%
LSTR	B	-0.28%
ARMK	B	-0.28%
BJ	B	-0.28%
FCN	F	-0.28%
AYI	A	-0.27%
FTDR	B	-0.27%
ATEN	A	-0.27%
PAYO	B	-0.27%
ELS	B	-0.26%
CASY	B	-0.26%
CPA	B	-0.26%
VNT	C	-0.26%
STEP	B	-0.26%
KRC	C	-0.26%
ELF	C	-0.26%
ELAN	C	-0.26%
PFGC	B	-0.25%
PLAB	C	-0.25%
HST	D	-0.25%
KYMR	C	-0.25%
SCI	B	-0.25%
CHDN	B	-0.25%
NTRA	B	-0.25%
BLDR	C	-0.25%
VRTS	B	-0.25%
AZEK	B	-0.24%
PCTY	B	-0.24%
MTX	B	-0.24%
MCB	B	-0.24%
GLOB	B	-0.24%
RVMD	C	-0.24%
BLBD	F	-0.24%
BOX	A	-0.24%
CBOE	D	-0.23%
CRNX	B	-0.23%
BLD	F	-0.23%
OIS	B	-0.23%
RDDT	B	-0.23%
EEFT	C	-0.23%
CTLT	D	-0.23%
TREX	C	-0.23%
WFRD	F	-0.22%
UFPI	B	-0.22%
TDW	F	-0.22%
CELH	F	-0.22%
CRL	C	-0.22%
ESS	C	-0.22%
ALV	C	-0.22%
ALKS	C	-0.21%
EPR	D	-0.21%
ONON	B	-0.21%
LSCC	D	-0.21%
VRNT	D	-0.21%
BRZE	C	-0.21%
RGEN	C	-0.21%
WFG	C	-0.21%
LPRO	C	-0.21%
PK	C	-0.2%
SWN	C	-0.2%
PRDO	B	-0.2%
KEX	A	-0.2%
THG	A	-0.2%
TXRH	A	-0.2%
EVRG	A	-0.2%
CWEN	D	-0.2%
NWE	C	-0.19%
OLLI	C	-0.19%
HAFC	B	-0.19%
NFG	D	-0.19%
BGNE	D	-0.18%
AHH	D	-0.18%
LUV	B	-0.18%
LEGN	F	-0.18%
RARE	F	-0.18%
PBH	A	-0.17%
ENS	D	-0.17%
TW	B	-0.17%
WDC	D	-0.17%
PLUS	F	-0.16%
AVNT	B	-0.16%
BFS	C	-0.16%
AVY	F	-0.16%
REPL	C	-0.16%
SRPT	F	-0.16%
BWXT	B	-0.16%
VERA	B	-0.16%
FIX	B	-0.16%
GMRE	F	-0.15%
HIG	C	-0.15%
XRAY	F	-0.15%
CVLT	B	-0.15%
CNP	B	-0.15%
WTTR	B	-0.15%
NRIX	B	-0.14%
AMAL	B	-0.14%
ESNT	D	-0.13%
ACM	B	-0.12%
XNCR	B	-0.12%
ASND	F	-0.12%
NTLA	F	-0.11%
MDGL	C	-0.11%
ACAD	C	-0.11%
CLDX	F	-0.11%
IONS	F	-0.11%
AKRO	C	-0.11%
IDYA	F	-0.1%
APPF	B	-0.08%
RCKT	F	-0.08%
BXC	B	-0.08%
PRTA	F	-0.07%
SRRK	C	-0.06%
PLRX	D	-0.06%
SWTX	C	-0.04%