FLRG vs. LSAF ETF Comparison

Comparison of Fidelity U.S. Multifactor ETF (FLRG) to LeaderShares AlphaFactor US Core Equity ETF (LSAF)

FLRG

Fidelity U.S. Multifactor ETF

FLRG Description

The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity U.S. Multifactor Index?. The fund normally invests at least 80% of its assets in securities included in the Fidelity U.S. Multifactor Index?. The Fidelity U.S. Multifactor Index? is designed to reflect the performance of stocks of large and mid-capitalization U.S. companies with attractive valuations, high quality profiles, positive momentum signals, and lower volatility than the broader market.

Grade (RS Rating)

Last Trade

$35.37

Average Daily Volume

51,658

Number of Holdings ^*

101

* may have additional holdings in another (foreign) market

LSAF

LeaderShares AlphaFactor US Core Equity ETF

LSAF Description

The investment seeks to provide investment results that correspond generally, before fees and expenses, to the performance of the AlphaFactor® US Core Equity Index. Under normal circumstances, at least 80% of the fund's net assets, including any borrowings for investment purposes, will be invested in a diversified portfolio of equity securities of U.S. common stocks included in the index. The index utilizes a quantitative rules-based investment methodology that applies a multi-factor ranking process and is focused on the largest 1,000 U.S. common stocks based on market capitalization.

Grade (RS Rating)

Last Trade

$43.63

Average Daily Volume

11,395

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FLRG	LSAF
30 Days	3.91%	5.32%
60 Days	5.11%	6.52%
90 Days	6.17%	9.24%
12 Months	32.36%	34.17%

21 Overlapping Holdings

Symbol	Grade	Weight in FLRG	Weight in LSAF	Overlap
AZO	C	0.87%	0.92%	0.87%
BKNG	A	1.15%	1.17%	1.15%
CI	F	0.83%	0.9%	0.83%
FICO	B	0.63%	1.14%	0.63%
FOXA	B	0.14%	1.04%	0.14%
GEN	B	0.51%	1.02%	0.51%
GOOGL	C	3.46%	0.96%	0.96%
HIG	B	0.95%	0.97%	0.95%
HRB	D	0.87%	0.84%	0.84%
LEN	D	0.91%	0.85%	0.85%
LMT	D	1.2%	0.88%	0.88%
MO	A	0.82%	1.04%	0.82%
MTG	C	0.87%	0.92%	0.87%
NVR	D	0.94%	0.86%	0.86%
ORLY	B	0.91%	0.99%	0.91%
PHM	D	0.91%	0.84%	0.84%
STLD	B	0.81%	1.09%	0.81%
SYF	B	0.88%	1.24%	0.88%
TMUS	B	0.31%	1.08%	0.31%
UTHR	C	0.7%	0.97%	0.7%
VST	B	1.76%	1.32%	1.32%

FLRG Overweight 80 Positions Relative to LSAF

Symbol	Grade	Weight
MSFT	F	6.44%
NVDA	C	6.08%
META	D	2.47%
LLY	F	1.98%
AVGO	D	1.93%
V	A	1.66%
MA	C	1.64%
HD	A	1.62%
PG	A	1.43%
JNJ	D	1.35%
ABBV	D	1.29%
MCD	D	1.28%
PGR	A	1.25%
ADP	B	1.17%
NFG	A	1.12%
PSA	D	1.04%
PAYX	C	1.04%
PCAR	B	1.03%
ALSN	B	1.02%
ACGL	D	1.02%
PM	B	1.01%
MLI	C	1.0%
VRSK	A	1.0%
BCC	B	0.97%
SNA	A	0.97%
CF	B	0.91%
AMGN	D	0.91%
IBM	C	0.9%
DTM	B	0.9%
EG	C	0.9%
JXN	C	0.89%
CRBG	B	0.88%
VICI	C	0.88%
OHI	C	0.87%
ESNT	D	0.87%
WSM	B	0.86%
RGA	A	0.83%
CTRA	B	0.83%
NUE	C	0.82%
CL	D	0.82%
RDN	C	0.81%
VLO	C	0.81%
QCOM	F	0.81%
REGN	F	0.8%
VRTX	F	0.79%
AMAT	F	0.77%
BRBR	A	0.77%
KMB	D	0.75%
NFLX	A	0.69%
ANET	C	0.68%
CNC	D	0.67%
CRWD	B	0.67%
CHRD	D	0.67%
KLAC	D	0.65%
MOH	F	0.65%
MSI	B	0.64%
RPRX	D	0.63%
LRCX	F	0.63%
APH	A	0.61%
CDNS	B	0.6%
MCK	B	0.6%
ZM	B	0.56%
NXPI	D	0.55%
DELL	C	0.54%
GDDY	A	0.53%
CTSH	B	0.52%
DBX	B	0.5%
AKAM	D	0.5%
ACIW	B	0.5%
NTAP	C	0.49%
CRUS	D	0.47%
VZ	C	0.47%
DOX	D	0.47%
CVLT	B	0.47%
DLB	B	0.45%
SWKS	F	0.43%
QLYS	C	0.42%
T	A	0.41%
CMCSA	B	0.41%
EA	A	0.17%

FLRG Underweight 78 Positions Relative to LSAF

Symbol	Grade	Weight
TRGP	B	-1.34%
EXEL	B	-1.27%
UNM	A	-1.21%
OWL	A	-1.19%
AAON	B	-1.18%
EXPE	B	-1.17%
GM	B	-1.17%
PLNT	A	-1.16%
FI	A	-1.15%
DUOL	A	-1.15%
FTNT	C	-1.15%
AMP	A	-1.15%
NTNX	A	-1.14%
GS	A	-1.14%
CPAY	A	-1.13%
LOPE	B	-1.08%
CMI	A	-1.08%
MAR	B	-1.08%
PRI	A	-1.06%
WSO	A	-1.05%
EQH	B	-1.05%
GWRE	A	-1.04%
RS	B	-1.04%
WRB	A	-1.04%
AXP	A	-1.03%
HLT	A	-1.03%
JBL	B	-1.03%
MUSA	A	-1.02%
ORI	A	-1.02%
RL	B	-1.01%
EXP	A	-1.01%
AMG	B	-1.0%
LPX	B	-1.0%
EEFT	B	-1.0%
BR	A	-1.0%
LNW	D	-0.99%
REG	B	-0.98%
MET	A	-0.98%
AIG	B	-0.98%
H	B	-0.97%
FIS	C	-0.97%
IT	C	-0.97%
WWD	B	-0.96%
PSX	C	-0.95%
AFL	B	-0.95%
DVA	B	-0.95%
CAT	B	-0.94%
SPGI	C	-0.94%
LOW	D	-0.93%
COLM	B	-0.93%
POST	C	-0.93%
MPC	D	-0.93%
PVH	C	-0.93%
AAPL	C	-0.93%
TOL	B	-0.93%
CSL	C	-0.93%
SNX	C	-0.92%
GPK	C	-0.92%
PSN	D	-0.91%
SPB	C	-0.9%
COKE	C	-0.9%
TXT	D	-0.9%
EBAY	D	-0.89%
AN	C	-0.89%
MAS	D	-0.88%
DD	D	-0.88%
NSA	D	-0.87%
KBR	F	-0.87%
SAIC	F	-0.85%
THC	D	-0.85%
BLDR	D	-0.85%
BLD	D	-0.84%
MHK	D	-0.81%
FBIN	D	-0.8%
HCA	F	-0.78%
WMS	D	-0.77%
MTD	D	-0.76%
CROX	D	-0.67%