FMDE vs. NACP ETF Comparison

Comparison of Fidelity Enhanced Mid Cap ETF (FMDE) to Impact Shares NAACP Minority Empowerment ETF (NACP)

FMDE

Fidelity Enhanced Mid Cap ETF

FMDE Description

The fund will normally invest at least 80% of assets in common stocks included in the Russell Midcap® Index, which is a market capitalization-weighted index designed to measure the performance of the mid-cap segment of the U.S. equity market. The adviser will generally use computer-aided, quantitative analysis of historical valuation, growth, profitability, and other factors to select a broadly diversified group of stocks that may have the potential to provide a higher total return than that of the index. It will invest in domestic and foreign issuers.

Grade (RS Rating)

Last Trade

$34.97

Average Daily Volume

149,789

Number of Holdings ^*

292

* may have additional holdings in another (foreign) market

NACP

Impact Shares NAACP Minority Empowerment ETF

NACP Description

The investment seeks investment results that, before fees and expenses, track the performance of the Morningstar Minority Empowerment Index (the underlying index). The fund will, under normal circumstances, invest at least 80% of its total assets, plus borrowings for investment purposes (the "80% basket") in component securities of the underlying index ("Component Securities"). The underlying index is designed to measure the performance of large and mid- capitalization companies that are "empowering to minorities," and to exhibit risk and return characteristics similar to those of the Morningstar US Large-Mid Cap ® Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$42.72

Average Daily Volume

3,518

Number of Holdings ^*

197

* may have additional holdings in another (foreign) market

Performance

Period	FMDE	NACP
30 Days	8.08%	2.08%
60 Days	9.45%	4.48%
90 Days	11.70%	6.57%
12 Months	39.69%	32.92%

63 Overlapping Holdings

Symbol	Grade	Weight in FMDE	Weight in NACP	Overlap
A	D	0.27%	0.14%	0.14%
ACM	A	0.17%	0.05%	0.05%
ADM	D	0.07%	0.11%	0.07%
AES	F	0.12%	0.05%	0.05%
AME	A	0.4%	0.13%	0.13%
AMH	D	0.49%	0.05%	0.05%
BAH	F	0.27%	0.07%	0.07%
BIIB	F	0.04%	0.1%	0.04%
BK	A	0.99%	0.17%	0.17%
BMY	B	0.26%	0.35%	0.26%
CCI	D	0.6%	0.18%	0.18%
CF	B	0.03%	0.05%	0.03%
CI	F	0.06%	0.37%	0.06%
CLX	B	0.65%	0.07%	0.07%
CMI	A	0.94%	0.15%	0.15%
DAL	C	0.05%	0.09%	0.05%
DD	D	0.58%	0.14%	0.14%
DGX	A	0.04%	0.06%	0.04%
DOC	D	0.15%	0.06%	0.06%
DTE	C	0.06%	0.08%	0.06%
DVN	F	0.31%	0.1%	0.1%
EA	A	0.58%	0.45%	0.45%
EBAY	D	0.32%	0.11%	0.11%
ECL	D	0.49%	0.21%	0.21%
ED	D	0.02%	0.12%	0.02%
EIX	B	0.61%	0.11%	0.11%
ES	D	0.09%	0.08%	0.08%
EXC	C	0.11%	0.15%	0.11%
GILD	C	0.51%	0.35%	0.35%
HES	B	0.22%	0.15%	0.15%
HLT	A	0.45%	0.17%	0.17%
HPQ	B	0.01%	0.62%	0.01%
HUBB	B	0.59%	0.06%	0.06%
HWM	A	0.89%	0.14%	0.14%
IFF	D	0.27%	0.09%	0.09%
K	A	0.04%	0.07%	0.04%
KMI	A	0.14%	0.15%	0.14%
KR	B	0.73%	0.13%	0.13%
LHX	C	0.24%	0.16%	0.16%
LNG	B	0.59%	0.16%	0.16%
LUV	C	0.1%	0.06%	0.06%
NDAQ	A	0.44%	0.08%	0.08%
NOC	D	0.18%	0.29%	0.18%
NRG	B	0.65%	0.07%	0.07%
NSC	B	0.06%	0.2%	0.06%
OC	A	0.23%	0.05%	0.05%
OKE	A	0.01%	0.18%	0.01%
PCG	A	0.36%	0.09%	0.09%
PPG	F	0.66%	0.1%	0.1%
PYPL	B	0.54%	0.27%	0.27%
RCL	A	0.18%	0.12%	0.12%
REG	B	0.13%	0.04%	0.04%
SBAC	D	0.22%	0.08%	0.08%
SWK	D	0.01%	0.06%	0.01%
SYF	B	0.36%	0.08%	0.08%
TT	A	0.48%	0.29%	0.29%
TXT	D	0.59%	0.06%	0.06%
UAL	A	0.79%	0.05%	0.05%
USFD	A	0.16%	0.04%	0.04%
VMC	B	0.42%	0.12%	0.12%
VST	B	0.94%	0.11%	0.11%
WMB	A	1.12%	0.19%	0.19%
XEL	A	0.28%	0.12%	0.12%

FMDE Overweight 229 Positions Relative to NACP

Symbol	Grade	Weight
SQ	B	0.97%
SPG	B	0.96%
PRU	A	0.85%
MSCI	C	0.84%
RJF	A	0.78%
CVNA	B	0.75%
CAH	B	0.74%
EXPE	B	0.73%
STT	A	0.72%
RBLX	C	0.72%
WTW	B	0.72%
ROST	C	0.71%
VEEV	C	0.71%
TOST	B	0.69%
TWLO	A	0.67%
ZM	B	0.67%
AXON	A	0.67%
CSGP	D	0.66%
DOCU	A	0.65%
NVR	D	0.65%
KEY	B	0.65%
CCL	B	0.65%
NTAP	C	0.64%
VICI	C	0.63%
AIZ	A	0.63%
FIS	C	0.63%
TOL	B	0.62%
EQH	B	0.62%
IDXX	F	0.61%
HUBS	A	0.61%
HPE	B	0.61%
NUE	C	0.6%
AMP	A	0.6%
INCY	C	0.6%
LDOS	C	0.6%
CW	B	0.59%
SSNC	B	0.59%
ALLE	D	0.58%
LYFT	C	0.57%
CNC	D	0.57%
ALL	A	0.57%
DBX	B	0.56%
DKNG	B	0.56%
TRGP	B	0.56%
FTV	C	0.54%
GL	B	0.54%
FFIV	B	0.54%
MANH	D	0.54%
EXEL	B	0.52%
CNP	B	0.52%
CTAS	B	0.52%
UNM	A	0.52%
GRMN	B	0.52%
DCI	B	0.52%
COR	B	0.51%
TPR	B	0.51%
MPWR	F	0.51%
QRVO	F	0.5%
MSI	B	0.5%
CACI	D	0.49%
GAP	C	0.49%
CCK	C	0.48%
TDC	D	0.48%
BURL	A	0.48%
AXTA	A	0.47%
STLD	B	0.47%
BWXT	B	0.47%
BERY	B	0.46%
PSA	D	0.46%
BRX	A	0.45%
NYT	C	0.45%
MEDP	D	0.45%
SWKS	F	0.45%
PEGA	A	0.45%
ANF	C	0.45%
CRUS	D	0.44%
SNX	C	0.44%
LNW	D	0.44%
NBIX	C	0.44%
WAB	B	0.43%
PLTR	B	0.43%
GWW	B	0.42%
CL	D	0.42%
EVRG	A	0.41%
NVT	B	0.41%
HIG	B	0.4%
SOLV	C	0.39%
AM	A	0.39%
CPNG	D	0.39%
FIX	A	0.38%
EEFT	B	0.38%
PCAR	B	0.38%
IGT	F	0.38%
ALSN	B	0.37%
DHI	D	0.37%
VMI	B	0.37%
KLAC	D	0.36%
HXL	D	0.35%
UTHR	C	0.35%
LPX	B	0.35%
ZION	B	0.34%
RNG	B	0.34%
SEE	C	0.34%
DUOL	A	0.33%
IQV	D	0.33%
GIS	D	0.33%
NTNX	A	0.33%
WCC	B	0.33%
WU	D	0.33%
UHS	D	0.32%
BLD	D	0.32%
Z	A	0.32%
EME	C	0.31%
COIN	C	0.31%
CPAY	A	0.31%
AYI	B	0.31%
RS	B	0.3%
APP	B	0.3%
LEN	D	0.29%
GDDY	A	0.29%
EQR	B	0.29%
RGA	A	0.28%
MGM	D	0.28%
MTDR	B	0.28%
GLPI	C	0.27%
CBOE	B	0.27%
DXCM	D	0.27%
ELAN	D	0.27%
FANG	D	0.26%
ZG	A	0.26%
ZBRA	B	0.25%
PLTK	B	0.25%
BILL	A	0.25%
BRO	B	0.25%
CDW	F	0.25%
INGR	B	0.24%
SEIC	B	0.24%
CFG	B	0.23%
GTES	A	0.23%
TW	A	0.22%
HRB	D	0.22%
MTB	A	0.22%
KMB	D	0.22%
FLS	B	0.21%
DFS	B	0.21%
PCTY	B	0.21%
HII	D	0.21%
ADTN	A	0.2%
GPN	B	0.2%
DKS	C	0.2%
BLDR	D	0.2%
MKTX	D	0.19%
NWSA	B	0.18%
MKL	A	0.16%
DASH	A	0.16%
WWD	B	0.16%
SAM	C	0.15%
KD	B	0.15%
GXO	B	0.14%
TPL	A	0.14%
CINF	A	0.13%
ATI	D	0.13%
ANSS	B	0.13%
FTI	A	0.12%
CHDN	B	0.12%
ITT	A	0.12%
WSM	B	0.11%
CBSH	A	0.11%
MORN	B	0.11%
IBKR	A	0.11%
GEHC	F	0.11%
NWS	B	0.11%
SYY	B	0.11%
ROP	B	0.1%
CTRE	D	0.1%
AWK	D	0.1%
VLTO	D	0.1%
CTRA	B	0.1%
AXS	A	0.09%
ACGL	D	0.09%
LPLA	A	0.09%
LEG	F	0.08%
XRAY	F	0.08%
MCHP	D	0.08%
WBD	C	0.08%
VSTS	C	0.07%
JHG	A	0.07%
CWEN	C	0.07%
MSA	D	0.07%
AMT	D	0.06%
WDAY	B	0.06%
FR	C	0.06%
EG	C	0.06%
VIRT	B	0.06%
TNL	A	0.06%
HUM	C	0.06%
L	A	0.06%
CSL	C	0.05%
WEN	D	0.05%
EGP	F	0.05%
PHM	D	0.05%
TXG	F	0.05%
NTRA	B	0.05%
OGE	B	0.04%
BBWI	D	0.04%
CWEN	C	0.04%
ULTA	F	0.04%
U	C	0.04%
BBY	D	0.03%
EPR	D	0.03%
REYN	D	0.03%
AKAM	D	0.03%
TXRH	C	0.03%
BMRN	D	0.03%
CNM	D	0.03%
SF	B	0.03%
CBRE	B	0.03%
JAZZ	B	0.02%
QGEN	D	0.02%
POST	C	0.02%
AFL	B	0.02%
AJG	B	0.02%
OVV	B	0.02%
HAL	C	0.02%
MRO	B	0.02%
LSCC	D	0.01%
STAG	F	0.01%
HOOD	B	0.01%
ARW	D	0.01%

FMDE Underweight 134 Positions Relative to NACP

Symbol	Grade	Weight
AAPL	C	-5.03%
NVDA	C	-4.9%
MSFT	F	-4.63%
AMZN	C	-4.47%
META	D	-3.63%
ACN	C	-3.58%
QCOM	F	-3.18%
IBM	C	-3.08%
GOOGL	C	-2.41%
JPM	A	-2.39%
UBER	D	-2.29%
VZ	C	-2.26%
TSLA	B	-2.22%
GOOG	C	-2.16%
XOM	B	-2.0%
UNH	C	-1.95%
PANW	C	-1.81%
MU	D	-1.75%
V	A	-1.53%
INTC	D	-1.52%
JNJ	D	-1.44%
MA	C	-1.4%
ABBV	D	-1.22%
CVX	A	-1.04%
MRK	F	-1.03%
KO	D	-0.99%
BAC	A	-0.99%
PEP	F	-0.92%
TMO	F	-0.83%
WMT	A	-0.73%
ABT	B	-0.69%
GE	D	-0.69%
NEE	D	-0.66%
DHR	F	-0.64%
PFE	D	-0.62%
AXP	A	-0.56%
UNP	C	-0.56%
SPGI	C	-0.55%
DELL	C	-0.54%
LOW	D	-0.51%
COP	C	-0.49%
ELV	F	-0.47%
MS	A	-0.47%
HON	B	-0.46%
C	A	-0.45%
T	A	-0.45%
ETN	A	-0.44%
MDT	D	-0.42%
PLD	D	-0.42%
BSX	B	-0.41%
ADP	B	-0.4%
BA	F	-0.38%
MELI	D	-0.38%
DE	A	-0.36%
MDLZ	F	-0.36%
NKE	D	-0.36%
UPS	C	-0.35%
SO	D	-0.35%
SCHW	B	-0.33%
DUK	C	-0.32%
EQIX	A	-0.29%
PNC	B	-0.27%
CVS	D	-0.27%
ITW	B	-0.27%
MMM	D	-0.26%
MCO	B	-0.26%
FDX	B	-0.25%
FCX	D	-0.25%
AON	A	-0.24%
CSX	B	-0.24%
MPC	D	-0.23%
BDX	F	-0.23%
PSX	C	-0.22%
TFC	A	-0.22%
NEM	D	-0.22%
EMR	A	-0.22%
AEP	D	-0.19%
MAR	B	-0.19%
SRE	A	-0.18%
TRV	B	-0.18%
D	C	-0.18%
GM	B	-0.18%
URI	B	-0.18%
MET	A	-0.17%
VLO	C	-0.17%
JCI	C	-0.17%
IPG	D	-0.16%
EW	C	-0.15%
F	C	-0.15%
PEG	A	-0.14%
OTIS	C	-0.13%
VRSK	A	-0.13%
IR	B	-0.12%
MLM	B	-0.12%
KHC	F	-0.12%
AVB	B	-0.11%
ROK	B	-0.11%
RMD	C	-0.11%
XYL	D	-0.11%
HSY	F	-0.1%
WEC	A	-0.1%
TROW	B	-0.09%
APTV	D	-0.08%
PPL	B	-0.08%
FE	C	-0.08%
ETR	B	-0.08%
LII	A	-0.07%
EXPD	D	-0.07%
CMS	C	-0.07%
TSN	B	-0.07%
BAX	D	-0.07%
LH	C	-0.07%
ILMN	D	-0.07%
HBAN	A	-0.07%
RF	A	-0.07%
SJM	D	-0.05%
NI	A	-0.05%
NDSN	B	-0.05%
LNT	A	-0.05%
JBHT	C	-0.05%
BG	F	-0.05%
CPB	D	-0.04%
LECO	B	-0.04%
TFX	F	-0.04%
ALB	C	-0.04%
EMN	D	-0.04%
WBA	F	-0.03%
BWA	D	-0.03%
SCCO	F	-0.03%
PFG	D	-0.03%
MOS	F	-0.03%
HRL	D	-0.03%
CNH	C	-0.03%
TAP	C	-0.03%