FHEQ vs. TQQQ ETF Comparison

Comparison of Fidelity Hedged Equity ETF (FHEQ) to ProShares UltraPro QQQ (TQQQ)

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

TQQQ

ProShares UltraPro QQQ

TQQQ Description

The investment seeks daily investment results, before fees and expenses, that correspond to three times (3x) the daily performance of the NASDAQ-100 IndexÂ®. The fund invests in securities and derivatives that ProShare Advisors believes, in combination, should have similar daily return characteristics as three times (3x) 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

$80.06

Average Daily Volume

46,614,683

Number of Holdings ^*

101

* may have additional holdings in another (foreign) market

Performance

Period	FHEQ	TQQQ
30 Days	1.74%	9.43%
60 Days	5.17%	19.25%
90 Days	5.89%	17.01%
12 Months		88.06%

36 Overlapping Holdings

Symbol	Grade	Weight in FHEQ	Weight in TQQQ	Overlap
AAPL	C	7.05%	2.87%	2.87%
ADBE	C	0.96%	0.49%	0.49%
ADP	A	0.16%	0.27%	0.16%
AMAT	F	0.75%	0.34%	0.34%
AMGN	F	0.26%	0.38%	0.26%
AMZN	A	3.61%	1.84%	1.84%
AVGO	C	1.73%	1.82%	1.73%
BIIB	F	0.22%	0.06%	0.06%
CMCSA	B	0.83%	0.38%	0.38%
COST	B	0.45%	0.87%	0.45%
CSCO	A	0.8%	0.51%	0.51%
CSX	B	0.58%	0.16%	0.16%
CTAS	B	0.67%	0.19%	0.19%
DASH	A	0.12%	0.14%	0.12%
FTNT	B	0.14%	0.14%	0.14%
GEHC	D	0.17%	0.09%	0.09%
GILD	B	0.77%	0.25%	0.25%
GOOG	C	1.98%	0.85%	0.85%
GOOGL	C	2.05%	0.88%	0.88%
IDXX	F	0.18%	0.08%	0.08%
KLAC	F	0.57%	0.2%	0.2%
LRCX	F	0.24%	0.22%	0.22%
MDLZ	F	0.07%	0.19%	0.07%
META	B	2.96%	1.69%	1.69%
MSFT	C	5.62%	2.65%	2.65%
MU	D	0.53%	0.27%	0.27%
NFLX	A	1.21%	0.73%	0.73%
NVDA	A	7.54%	3.03%	3.03%
PCAR	B	0.43%	0.13%	0.13%
PYPL	A	0.54%	0.18%	0.18%
QCOM	F	0.82%	0.42%	0.42%
ROST	D	0.1%	0.1%	0.1%
TMUS	A	0.07%	0.59%	0.07%
TSLA	B	1.15%	1.18%	1.15%
WDAY	B	0.16%	0.12%	0.12%
XEL	A	0.2%	0.08%	0.08%

FHEQ Overweight 133 Positions Relative to TQQQ

Symbol	Grade	Weight
BRK.A	B	2.12%
JPM	A	1.75%
XOM	B	1.51%
MA	B	1.33%
HD	B	1.27%
CRM	B	1.23%
BAC	A	1.13%
ABBV	F	1.0%
PM	B	0.85%
LLY	F	0.84%
PG	C	0.82%
WMT	A	0.79%
BMY	B	0.77%
LMT	D	0.73%
UNP	D	0.73%
TJX	A	0.72%
NEE	D	0.69%
TT	B	0.68%
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%
UNH	B	0.58%
PFE	F	0.58%
ZM	B	0.57%
CL	F	0.55%
CMG	B	0.55%
SEIC	A	0.54%
SCHW	B	0.53%
C	B	0.53%
DBX	B	0.53%
MMC	D	0.52%
TRV	B	0.52%
DVN	F	0.51%
CVNA	B	0.51%
EXEL	B	0.5%
TXT	D	0.49%
IGT	F	0.49%
MSCI	B	0.49%
CAT	B	0.48%
ZBRA	B	0.48%
V	A	0.46%
RTX	D	0.45%
GE	D	0.45%
DIS	B	0.42%
CAH	B	0.42%
AXP	B	0.42%
SPGI	C	0.41%
ALLE	D	0.4%
LDOS	C	0.39%
WM	A	0.38%
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%
GRMN	A	0.31%
SKYW	B	0.3%
TMO	F	0.28%
INCY	B	0.28%
HWM	B	0.27%
EOG	A	0.27%
ALRM	C	0.26%
NSC	B	0.26%
MSI	B	0.24%
MMM	C	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%
DOCU	B	0.2%
CLX	A	0.19%
GAP	B	0.18%
HLT	A	0.18%
PSA	D	0.18%
LNW	F	0.18%
PEGA	B	0.17%
FTI	B	0.17%
MS	A	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%
SOLV	C	0.13%
VEEV	B	0.13%
GEN	B	0.13%
BAH	C	0.12%
CINF	A	0.12%
QRVO	F	0.11%
NBIX	C	0.11%
KR	A	0.11%
AME	A	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%
ORCL	A	0.04%
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 65 Positions Relative to TQQQ

Symbol	Grade	Weight
AMD	F	-0.51%
PEP	D	-0.5%
LIN	D	-0.48%
TXN	B	-0.43%
INTU	A	-0.4%
ISRG	A	-0.4%
BKNG	A	-0.37%
HON	B	-0.31%
VRTX	B	-0.28%
PANW	B	-0.27%
ADI	D	-0.25%
MELI	D	-0.24%
SBUX	B	-0.24%
INTC	C	-0.23%
SNPS	C	-0.19%
REGN	F	-0.19%
PDD	F	-0.18%
CDNS	B	-0.18%
MAR	A	-0.17%
MRVL	B	-0.17%
ORLY	A	-0.16%
CEG	D	-0.16%
CRWD	B	-0.16%
ABNB	C	-0.14%
ASML	D	-0.14%
ADSK	B	-0.14%
CHTR	B	-0.13%
NXPI	F	-0.13%
ROP	A	-0.13%
MNST	B	-0.12%
CPRT	A	-0.12%
PAYX	B	-0.12%
FANG	C	-0.12%
TTD	B	-0.12%
ODFL	B	-0.11%
AEP	D	-0.11%
KDP	C	-0.1%
FAST	B	-0.1%
CTSH	A	-0.09%
MCHP	F	-0.09%
VRSK	A	-0.09%
DDOG	B	-0.09%
KHC	F	-0.09%
EA	A	-0.09%
BKR	B	-0.09%
CCEP	C	-0.08%
TEAM	B	-0.08%
LULU	B	-0.08%
AZN	F	-0.08%
EXC	C	-0.08%
CSGP	F	-0.07%
ON	F	-0.07%
GFS	C	-0.06%
CDW	F	-0.06%
DXCM	C	-0.06%
ZS	B	-0.06%
ANSS	B	-0.06%
TTWO	A	-0.06%
WBD	B	-0.05%
MDB	C	-0.05%
ILMN	C	-0.05%
ARM	D	-0.04%
MRNA	F	-0.04%
SMCI	F	-0.03%
DLTR	F	-0.03%