FMED vs. CPAI ETF Comparison

Comparison of Fidelity Disruptive Medicine ETF (FMED) to Counterpoint Quantitative Equity ETF (CPAI)

FMED

Fidelity Disruptive Medicine ETF

FMED Description

The fund normally invests at least 80% of assets in securities of disruptive medicine companies. Fidelity's disruptive strategies seek to identify innovative developments that could signal new directions for delivering products and services to customers. Generally, these companies have or are developing new or unconventional ways of doing business that could disrupt and displace incumbents over time. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$25.44

Average Daily Volume

4,772

Number of Holdings ^*

* may have additional holdings in another (foreign) market

CPAI

Counterpoint Quantitative Equity ETF

CPAI Description

CPAI employs a quantitative, model-driven strategy that integrates quantitative analysis and machine learning insights to navigate diverse market conditions. The portfolio consists of at least 50 US-listed companies of any capitalization or ADRs. The selection process relies on advanced quantitative models leveraging machine learning technology, considering over 30 variables related to value, long-term reversal, momentum, profitability, investor sentiment, and stock price stability. Additionally, the Adviser backtests variable combinations considered to be supported by economic reasoning or investor behavioral biases. The models continually learn and adapt relationships between input variables and realized historic returns, updating during quarterly portfolio rebalances. Moreover, rebalancing ensures the portfolio aligns with the models' rankings, with adjustments made to limit sector exposure to 35% or less.

Grade (RS Rating)

Last Trade

$36.26

Average Daily Volume

7,195

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FMED	CPAI
30 Days	-3.41%	5.48%
60 Days	-4.25%	9.78%
90 Days	-2.27%	11.01%
12 Months	17.18%

2 Overlapping Holdings

	Symbol	Grade	Weight in FMED	Weight in CPAI	Overlap
	AGL	F	1.43%	0.82%	0.82%
	LLY	F	1.78%	1.57%	1.57%

FMED Overweight 50 Positions Relative to CPAI

Symbol	Grade	Weight
BSX	A	6.26%
UNH	B	4.7%
PODD	C	4.44%
ISRG	A	4.42%
DHR	F	3.8%
ARGX	B	3.27%
REGN	F	3.26%
ALNY	D	2.9%
SYK	B	2.73%
EXAS	D	2.72%
PEN	B	2.64%
LFST	B	2.41%
VEEV	C	2.18%
MASI	B	2.01%
LEGN	D	1.95%
EW	C	1.95%
INSP	D	1.92%
DXCM	C	1.88%
TMO	F	1.87%
PRCT	B	1.65%
ZLAB	C	1.54%
GKOS	B	1.42%
RGEN	D	1.34%
PRVA	C	1.34%
KROS	D	1.34%
JANX	C	1.32%
RMD	C	1.3%
CRNX	C	1.23%
CYTK	F	1.19%
XENE	D	1.17%
DOCS	C	1.14%
DYN	F	1.13%
PCVX	D	1.13%
BRKR	D	1.12%
WST	C	1.01%
TNDM	D	1.0%
PHR	F	0.99%
CNC	D	0.98%
ASND	F	0.88%
VRTX	D	0.84%
ALGN	D	0.72%
TXG	F	0.63%
NTRA	A	0.56%
ACLX	C	0.45%
DNLI	D	0.45%
NRIX	C	0.44%
IRTC	C	0.44%
DAWN	D	0.41%
BNTX	C	0.4%
ANAB	F	0.24%

FMED Underweight 47 Positions Relative to CPAI

Symbol	Grade	Weight
TRGP	A	-2.61%
SFM	A	-2.49%
SKYW	C	-2.47%
TDS	B	-2.45%
OKE	A	-2.35%
HTZ	C	-2.35%
UNM	A	-2.3%
NTGR	B	-2.29%
CARG	B	-2.27%
GDDY	A	-2.25%
BRBR	A	-2.24%
VIRT	A	-2.24%
CNO	B	-2.14%
FTI	A	-2.12%
CLBT	B	-2.11%
EQH	C	-2.1%
ORCL	A	-2.1%
CVLT	B	-2.09%
FTDR	B	-2.09%
GNW	A	-2.07%
ZIM	C	-2.06%
MSI	B	-2.05%
PBI	B	-2.05%
ACIW	B	-2.04%
GOOGL	C	-2.03%
COR	B	-2.01%
CAH	B	-2.01%
TJX	A	-1.91%
PGR	A	-1.89%
PAA	B	-1.88%
PRM	C	-1.88%
META	D	-1.87%
LESL	D	-1.87%
PAGP	A	-1.87%
LDOS	C	-1.86%
AAPL	C	-1.86%
RTX	D	-1.85%
WES	C	-1.85%
MSFT	D	-1.83%
THC	D	-1.77%
NYT	D	-1.76%
BRC	D	-1.74%
MHO	D	-1.73%
ROST	D	-1.72%
WBA	F	-1.7%
UHS	D	-1.58%
HCA	F	-1.55%