FMDE vs. PHEQ ETF Comparison

Comparison of Fidelity Enhanced Mid Cap ETF (FMDE) to Parametric Hedged Equity ETF (PHEQ)

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

$34.38

Average Daily Volume

142,847

Number of Holdings ^*

284

* may have additional holdings in another (foreign) market

PHEQ

Parametric Hedged Equity ETF

PHEQ Description

The fund seeks to provide capital appreciation by investing its net assets in equity securities of certain U.S. large capitalization companies that are constituents of the Solactive GBS US 500 at the time of purchase.

Grade (RS Rating)

Last Trade

$29.35

Average Daily Volume

21,600

Number of Holdings ^*

203

* may have additional holdings in another (foreign) market

Performance

Period	FMDE	PHEQ
30 Days	5.11%	1.31%
60 Days	10.23%	2.95%
90 Days	13.39%	4.08%
12 Months		18.56%

56 Overlapping Holdings

Symbol	Grade	Weight in FMDE	Weight in PHEQ	Overlap
AKAM	F	0.04%	0.19%	0.04%
AME	A	0.25%	0.25%	0.25%
BAH	C	0.37%	0.15%	0.15%
BLDR	D	0.2%	0.08%	0.08%
BMY	B	0.4%	0.46%	0.4%
BRO	A	0.61%	0.3%	0.3%
CFG	B	0.22%	0.24%	0.22%
CNP	B	0.51%	0.26%	0.26%
COIN	B	0.07%	0.09%	0.07%
COR	A	0.6%	0.29%	0.29%
CPNG	B	0.44%	0.03%	0.03%
CSL	B	0.05%	0.18%	0.05%
CTAS	A	0.53%	0.41%	0.41%
DAL	A	0.05%	0.36%	0.05%
DASH	A	0.15%	0.11%	0.11%
DKNG	B	0.5%	0.07%	0.07%
DOC	C	0.03%	0.31%	0.03%
DTE	D	0.06%	0.32%	0.06%
DVN	F	0.33%	0.17%	0.17%
EQR	C	0.29%	0.32%	0.29%
FANG	D	0.27%	0.25%	0.25%
HAL	C	0.02%	0.15%	0.02%
HIG	C	0.39%	0.32%	0.32%
HUBB	B	0.6%	0.13%	0.13%
HUBS	B	0.55%	0.12%	0.12%
HWM	A	0.86%	0.33%	0.33%
IBKR	A	0.1%	0.09%	0.09%
IFF	F	0.33%	0.19%	0.19%
K	A	0.05%	0.35%	0.05%
KLAC	F	0.41%	0.39%	0.39%
KMB	F	0.24%	0.34%	0.24%
L	A	0.06%	0.23%	0.06%
LNG	B	0.55%	0.19%	0.19%
LPLA	B	0.09%	0.04%	0.04%
MGM	D	0.09%	0.14%	0.09%
MRO	B	0.02%	0.22%	0.02%
NDAQ	A	0.44%	0.23%	0.23%
PHM	D	0.05%	0.31%	0.05%
PLTR	B	0.2%	0.24%	0.2%
PPG	F	0.71%	0.19%	0.19%
PRU	B	0.86%	0.37%	0.37%
PYPL	A	0.52%	0.26%	0.26%
RBLX	B	0.8%	0.1%	0.1%
ROST	F	0.83%	0.32%	0.32%
SQ	B	0.86%	0.1%	0.1%
SSNC	C	0.61%	0.2%	0.2%
STLD	B	0.47%	0.1%	0.1%
SYF	B	0.46%	0.23%	0.23%
TRGP	B	0.5%	0.39%	0.39%
TW	C	0.23%	0.11%	0.11%
ULTA	C	0.05%	0.24%	0.05%
VEEV	B	0.76%	0.11%	0.11%
WBD	B	0.08%	0.16%	0.08%
WDAY	B	0.06%	0.12%	0.06%
WSM	F	0.11%	0.02%	0.02%
ZM	B	0.72%	0.17%	0.17%

FMDE Overweight 228 Positions Relative to PHEQ

Symbol	Grade	Weight
WMB	B	1.07%
BK	B	1.01%
SPG	B	0.95%
CMI	A	0.9%
MSCI	B	0.87%
VST	B	0.82%
CVNA	B	0.81%
UAL	B	0.77%
CAH	A	0.76%
KR	A	0.76%
LDOS	B	0.75%
WTW	A	0.74%
STT	B	0.74%
RJF	A	0.73%
EA	A	0.72%
EXEL	B	0.72%
NVR	D	0.72%
MPWR	F	0.71%
EXPE	B	0.7%
FIS	B	0.68%
HPE	B	0.67%
DOCU	B	0.67%
INCY	B	0.67%
CLX	A	0.67%
CCI	F	0.66%
DHI	F	0.66%
TOST	A	0.66%
CNC	F	0.66%
VICI	D	0.66%
NTAP	D	0.66%
TOL	C	0.64%
EQH	B	0.64%
CACI	C	0.64%
NRG	B	0.64%
CCL	A	0.63%
KEY	B	0.63%
EIX	C	0.63%
TWLO	A	0.63%
DD	D	0.63%
CW	B	0.62%
NUE	C	0.62%
IDXX	D	0.6%
TXT	C	0.6%
ALLE	D	0.6%
DBX	B	0.59%
ALSN	A	0.59%
AIZ	A	0.58%
TDC	D	0.58%
ALL	A	0.57%
AMP	A	0.57%
LYFT	B	0.57%
GILD	C	0.56%
FFIV	A	0.56%
MANH	C	0.56%
GL	B	0.55%
FTV	D	0.55%
DCI	A	0.54%
CCK	D	0.53%
GRMN	A	0.53%
BERY	C	0.52%
NYT	C	0.52%
GAP	B	0.51%
AXON	B	0.51%
SWKS	F	0.51%
CRUS	F	0.51%
PEGA	A	0.51%
MEDP	C	0.5%
UNM	A	0.5%
MSI	B	0.5%
UHS	D	0.49%
BWXT	A	0.49%
AMH	C	0.49%
NBIX	C	0.49%
EBAY	C	0.48%
ECL	C	0.48%
LNW	F	0.48%
SNX	C	0.47%
PSA	C	0.47%
TT	A	0.47%
AXTA	A	0.47%
HLT	A	0.46%
BURL	C	0.46%
SOLV	D	0.45%
TPR	B	0.45%
IGT	D	0.44%
WAB	A	0.44%
BRX	A	0.44%
ANF	D	0.44%
CL	F	0.44%
ROKU	C	0.42%
GWW	B	0.42%
EVRG	A	0.41%
NVT	B	0.41%
QRVO	F	0.41%
AM	B	0.39%
EEFT	C	0.39%
UTHR	B	0.39%
PCAR	B	0.38%
RNG	B	0.38%
GIS	F	0.38%
IQV	F	0.38%
SEE	C	0.38%
HXL	D	0.37%
APP	B	0.37%
VMI	B	0.37%
PCG	A	0.37%
BLD	F	0.35%
WU	F	0.35%
FIX	B	0.35%
NTNX	B	0.33%
WCC	B	0.33%
LPX	B	0.33%
AYI	B	0.32%
LEN	D	0.31%
A	F	0.31%
ZION	B	0.31%
RS	B	0.3%
XEL	A	0.3%
EME	B	0.3%
CPAY	A	0.3%
GLPI	D	0.29%
Z	B	0.29%
PLTK	B	0.29%
CBOE	D	0.29%
ELAN	D	0.28%
RGA	A	0.28%
MTDR	C	0.27%
ZBRA	A	0.27%
CSGP	D	0.27%
GDDY	A	0.27%
SEIC	A	0.24%
INGR	B	0.24%
SBAC	D	0.24%
OC	A	0.23%
ZG	B	0.23%
HRB	D	0.23%
GTES	B	0.23%
CDW	F	0.22%
PCTY	A	0.22%
HES	C	0.22%
MTB	B	0.21%
DFS	B	0.2%
FLS	B	0.2%
ADTN	B	0.2%
DKS	F	0.2%
NOC	C	0.2%
NWSA	B	0.19%
GPN	B	0.19%
DXCM	C	0.19%
ACM	B	0.18%
RCL	A	0.17%
ADC	A	0.16%
USFD	A	0.16%
WWD	B	0.16%
CTRA	B	0.15%
SAM	B	0.15%
ANSS	B	0.14%
DUOL	B	0.14%
REG	A	0.14%
JAZZ	B	0.14%
AES	F	0.14%
CINF	A	0.13%
TPL	B	0.13%
GEHC	F	0.13%
ATI	D	0.13%
KMI	B	0.13%
KD	A	0.13%
FTI	B	0.12%
ITT	A	0.12%
MORN	B	0.12%
EXC	C	0.12%
SYY	B	0.12%
AWK	D	0.11%
VLTO	C	0.11%
NWS	B	0.11%
ES	D	0.1%
MCHP	F	0.1%
LUV	B	0.1%
CBSH	A	0.1%
AFG	A	0.1%
TXG	F	0.09%
LEG	F	0.09%
ACGL	D	0.09%
ADM	F	0.08%
AXS	A	0.08%
JHG	B	0.07%
VSTS	D	0.07%
CWEN	D	0.07%
MSA	D	0.07%
VIRT	B	0.06%
WEN	C	0.06%
DGX	A	0.06%
CI	D	0.06%
TNL	A	0.06%
FR	C	0.06%
AMT	F	0.06%
DVA	C	0.06%
KEX	B	0.06%
TXRH	A	0.06%
IRDM	C	0.05%
NTRA	B	0.05%
LUMN	B	0.05%
BILL	A	0.05%
EGP	C	0.05%
CBRE	A	0.04%
OGE	B	0.04%
BMRN	F	0.04%
LHX	A	0.04%
CWEN	D	0.04%
BIIB	F	0.04%
CF	B	0.03%
BBY	D	0.03%
EPR	D	0.03%
REYN	D	0.03%
SF	B	0.03%
CNM	D	0.03%
SWK	F	0.02%
ARW	F	0.02%
QGEN	D	0.02%
AFL	C	0.02%
POST	D	0.02%
OVV	C	0.02%
AJG	A	0.02%
ED	D	0.02%
LSCC	D	0.01%
STAG	D	0.01%
HOOD	B	0.01%
HPQ	B	0.01%

FMDE Underweight 147 Positions Relative to PHEQ

Symbol	Grade	Weight
AAPL	C	-7.06%
NVDA	B	-7.04%
MSFT	C	-6.87%
AMZN	A	-3.93%
META	B	-2.87%
GOOGL	B	-2.32%
GOOG	B	-1.94%
AVGO	C	-1.85%
LLY	F	-1.6%
JPM	B	-1.59%
TSLA	B	-1.54%
BRK.A	B	-1.39%
XOM	B	-1.38%
UNH	B	-1.3%
V	A	-1.2%
MA	B	-1.13%
HD	B	-1.12%
JNJ	D	-1.1%
PG	C	-1.08%
ABBV	D	-1.04%
COST	B	-1.04%
WMT	A	-0.93%
BAC	A	-0.89%
KO	F	-0.83%
CVX	B	-0.78%
CSCO	A	-0.77%
PEP	D	-0.76%
MRK	F	-0.76%
NFLX	A	-0.74%
LIN	D	-0.71%
ORCL	A	-0.7%
T	A	-0.66%
TMO	F	-0.64%
TXN	C	-0.62%
ABT	C	-0.6%
WFC	A	-0.59%
LMT	C	-0.59%
NOW	A	-0.58%
ISRG	A	-0.58%
CRM	B	-0.58%
AMD	F	-0.57%
LOW	B	-0.56%
IBM	C	-0.56%
CAT	C	-0.55%
AXP	B	-0.55%
MDT	D	-0.53%
UNP	C	-0.51%
AMGN	F	-0.5%
TMUS	A	-0.49%
ADBE	C	-0.47%
DIS	B	-0.47%
MMM	C	-0.44%
KKR	B	-0.44%
DE	D	-0.44%
WM	A	-0.43%
VRTX	B	-0.38%
TRV	B	-0.38%
BKNG	A	-0.38%
ETR	B	-0.36%
QCOM	F	-0.35%
MS	A	-0.35%
BA	F	-0.35%
AVB	A	-0.34%
PPL	A	-0.33%
YUM	B	-0.33%
MU	D	-0.33%
OTIS	C	-0.33%
RSG	A	-0.33%
DOV	A	-0.32%
LRCX	F	-0.32%
LNT	C	-0.32%
CMS	C	-0.32%
EXR	D	-0.32%
SCHW	A	-0.31%
UBER	F	-0.31%
LH	A	-0.3%
AEE	A	-0.29%
DRI	B	-0.29%
HBAN	B	-0.28%
PANW	A	-0.28%
MELI	D	-0.27%
APO	B	-0.27%
ARES	B	-0.26%
MAA	C	-0.26%
NEM	F	-0.26%
GLW	C	-0.26%
LII	B	-0.25%
RMD	C	-0.25%
REGN	F	-0.25%
LYB	F	-0.24%
URI	B	-0.24%
JBHT	B	-0.24%
FE	D	-0.24%
ARE	F	-0.23%
AMCR	D	-0.23%
EXPD	D	-0.23%
MRVL	B	-0.23%
MKL	A	-0.21%
HEI	B	-0.21%
WRB	B	-0.2%
CPB	F	-0.2%
LULU	C	-0.2%
CAG	F	-0.19%
ESS	C	-0.19%
PFG	C	-0.19%
APTV	D	-0.18%
TTD	B	-0.18%
SPOT	A	-0.17%
CRWD	B	-0.16%
ALNY	D	-0.16%
ON	F	-0.16%
MSTR	B	-0.15%
MOH	F	-0.15%
ABNB	C	-0.15%
NDSN	B	-0.14%
ZBH	C	-0.14%
DELL	B	-0.14%
HEI	B	-0.13%
DDOG	B	-0.13%
SUI	D	-0.11%
FCNCA	B	-0.11%
TRU	D	-0.1%
CE	F	-0.09%
DOX	C	-0.09%
VRT	B	-0.09%
SCCO	F	-0.08%
ZS	B	-0.08%
AVTR	F	-0.07%
NET	B	-0.07%
AGR	C	-0.07%
YUMC	C	-0.07%
ALGN	F	-0.06%
SNAP	C	-0.06%
ILMN	C	-0.06%
ENPH	F	-0.05%
TEAM	B	-0.05%
SNOW	C	-0.05%
OWL	B	-0.05%
WLK	F	-0.04%
RKT	F	-0.04%
BSY	F	-0.04%
RPRX	F	-0.04%
SIRI	D	-0.03%
PINS	F	-0.03%
OKTA	C	-0.03%
MRNA	F	-0.02%
WMG	B	-0.02%