FNCL vs. DVAL ETF Comparison

Comparison of Fidelity MSCI Financials Index ETF (FNCL) to Dynamic US Large Cap Value ETF (DVAL)

FNCL

Fidelity MSCI Financials Index ETF

FNCL Description

The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Financials Index. Investing at least 80% of assets in securities included in the fund's underlying index. The fund's underlying index is the MSCI USA IMI Financials Index, which represents the performance of the financial sector in the U.S. equity market. It may or may not hold all of the securities in the MSCI USA IMI Financials Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$70.95

Average Daily Volume

108,821

Number of Holdings ^*

380

* may have additional holdings in another (foreign) market

DVAL

Dynamic US Large Cap Value ETF

DVAL Description

Dynamic US Large Cap Value ETF is an exchange traded fund launched by Franklin Resources, Inc. It is managed by Franklin Advisers, Inc. and Brandywine Global Investment Management, LLC. The fund invests in public equity markets of the United States. It invests in stocks of companies operating across diversified sectors. It invests in value stocks of large-cap companies, within the market capitalization range of the Russell 1000 Index. The fund employs quantitative analysis to create its portfolio. The fund seeks to benchmark the performance of its portfolio against the Russell 1000 Value Index and the S&P 500 Index. It employs proprietary research to create its portfolio. Dynamic US Large Cap Value ETF was formed on December 27, 2006 and is domiciled in the United States.

Grade (RS Rating)

Last Trade

$14.46

Average Daily Volume

7,152

Number of Holdings ^*

110

* may have additional holdings in another (foreign) market

Performance

Period	FNCL	DVAL
30 Days	5.19%	-0.54%
60 Days	10.77%	3.19%
90 Days	15.45%	5.98%
12 Months	46.39%	24.53%

14 Overlapping Holdings

Symbol	Grade	Weight in FNCL	Weight in DVAL	Overlap
AFG	A	0.13%	0.59%	0.13%
AMG	C	0.07%	0.39%	0.07%
AXP	B	2.05%	1.5%	1.5%
CPAY	A	0.31%	0.61%	0.31%
EQH	B	0.19%	0.62%	0.19%
EVR	B	0.14%	0.49%	0.14%
MTG	D	0.08%	0.45%	0.08%
OMF	A	0.09%	0.44%	0.09%
ORI	A	0.12%	0.64%	0.12%
PYPL	B	1.05%	2.39%	1.05%
RDN	D	0.07%	0.08%	0.07%
VOYA	B	0.1%	0.04%	0.04%
WEX	F	0.09%	0.13%	0.09%
WFC	A	3.14%	0.69%	0.69%

FNCL Overweight 366 Positions Relative to DVAL

Symbol	Grade	Weight
JPM	A	8.6%
BRK.A	B	7.67%
V	A	6.01%
MA	B	5.35%
BAC	A	4.0%
GS	B	2.35%
SPGI	D	2.02%
MS	A	2.0%
BLK	B	1.93%
PGR	B	1.87%
C	B	1.61%
BX	A	1.6%
FI	A	1.53%
SCHW	A	1.5%
CB	C	1.37%
MMC	D	1.35%
KKR	A	1.16%
ICE	C	1.11%
PNC	B	1.03%
CME	A	0.99%
USB	B	0.98%
MCO	D	0.98%
AON	B	0.91%
COF	B	0.87%
APO	A	0.81%
AJG	B	0.8%
TFC	A	0.77%
AFL	C	0.74%
TRV	A	0.73%
BK	B	0.71%
AMP	A	0.69%
COIN	A	0.66%
ALL	A	0.64%
MET	A	0.63%
AIG	C	0.63%
FIS	C	0.61%
MSCI	B	0.59%
SQ	A	0.58%
PRU	B	0.56%
DFS	B	0.54%
ACGL	D	0.46%
MTB	A	0.44%
HIG	B	0.43%
NDAQ	A	0.42%
WTW	B	0.4%
FITB	B	0.4%
ARES	A	0.39%
RJF	A	0.39%
GPN	C	0.37%
STT	B	0.35%
BRO	B	0.33%
TROW	B	0.33%
HBAN	B	0.32%
SYF	B	0.32%
RF	A	0.3%
LPLA	A	0.29%
CINF	A	0.29%
MKL	A	0.28%
CFG	B	0.27%
NTRS	A	0.27%
FCNCA	A	0.27%
CBOE	C	0.26%
PFG	C	0.25%
KEY	B	0.23%
WRB	B	0.23%
FDS	B	0.23%
IBKR	A	0.22%
HOOD	A	0.21%
L	A	0.2%
EG	D	0.2%
RGA	B	0.19%
FNF	A	0.19%
EWBC	A	0.18%
TOST	A	0.18%
TW	A	0.18%
SOFI	A	0.17%
RNR	C	0.17%
UNM	A	0.16%
AFRM	A	0.16%
JKHY	D	0.16%
AIZ	A	0.15%
CG	B	0.15%
SF	B	0.15%
JEF	A	0.15%
FHN	A	0.14%
ERIE	F	0.13%
GL	C	0.13%
WBS	A	0.13%
KNSL	B	0.13%
OWL	A	0.13%
PRI	A	0.13%
MORN	B	0.12%
PNFP	B	0.12%
HLI	B	0.12%
WAL	B	0.12%
ALLY	C	0.12%
MKTX	D	0.12%
SNV	B	0.11%
CBSH	A	0.11%
WTFC	B	0.11%
ZION	B	0.11%
SEIC	B	0.11%
CMA	B	0.11%
PB	A	0.1%
SSB	B	0.1%
CFR	B	0.1%
JXN	C	0.09%
ONB	B	0.09%
RLI	A	0.09%
RYAN	B	0.09%
BPOP	C	0.09%
HLNE	A	0.09%
AXS	A	0.09%
JHG	B	0.08%
FNB	B	0.08%
BEN	C	0.08%
GBCI	B	0.08%
COOP	B	0.08%
COLB	B	0.08%
CADE	B	0.08%
FAF	C	0.08%
AGNC	C	0.08%
FOUR	A	0.07%
UBSI	B	0.07%
UMBF	B	0.07%
HOMB	A	0.07%
LNC	B	0.07%
THG	A	0.07%
STWD	C	0.07%
IVZ	C	0.07%
SIGI	B	0.07%
ESNT	D	0.07%
PIPR	B	0.07%
VLY	B	0.06%
ABCB	B	0.06%
KMPR	A	0.06%
EEFT	C	0.06%
CNO	B	0.06%
MC	B	0.06%
SFBS	B	0.06%
SLM	B	0.06%
WTM	A	0.06%
FFIN	B	0.06%
AGO	A	0.06%
UPST	B	0.06%
TPG	A	0.06%
OZK	B	0.06%
HWC	B	0.06%
WD	D	0.05%
BGC	C	0.05%
PJT	B	0.05%
FHB	B	0.05%
STEP	B	0.05%
TCBI	B	0.05%
ESGR	B	0.05%
IBOC	B	0.05%
ASB	B	0.05%
AX	B	0.05%
PFSI	C	0.05%
VCTR	B	0.04%
HTLF	B	0.04%
INDB	B	0.04%
GSHD	B	0.04%
SFNC	B	0.04%
BKU	A	0.04%
CACC	F	0.04%
BXMT	C	0.04%
BOH	B	0.04%
NMIH	D	0.04%
VIRT	A	0.04%
WAFD	B	0.04%
CVBF	B	0.04%
HASI	F	0.04%
PRK	B	0.04%
GNW	A	0.04%
APAM	B	0.04%
FIBK	B	0.04%
FHI	B	0.04%
CBU	B	0.04%
BOKF	B	0.04%
FBP	B	0.04%
WSFS	B	0.04%
AUB	B	0.04%
EBC	B	0.04%
CATY	B	0.04%
FULT	B	0.04%
UCB	A	0.04%
BHF	C	0.04%
SYBT	B	0.03%
NATL	B	0.03%
AGM	B	0.03%
FBK	B	0.03%
PRG	C	0.03%
FRHC	A	0.03%
TRMK	B	0.03%
BANC	B	0.03%
EVTC	B	0.03%
DBRG	F	0.03%
MCY	B	0.03%
TFIN	B	0.03%
RNST	B	0.03%
NBTB	B	0.03%
EFSC	B	0.03%
WSBC	B	0.03%
SBCF	B	0.03%
IBTX	B	0.03%
TBBK	B	0.03%
FLYW	B	0.03%
BANR	B	0.03%
BANF	B	0.03%
PPBI	B	0.03%
OSCR	C	0.03%
WU	F	0.03%
PFS	B	0.03%
ABR	B	0.03%
PLMR	A	0.03%
TOWN	B	0.03%
CNS	B	0.03%
FRME	B	0.03%
FFBC	B	0.03%
PAYO	A	0.03%
ENVA	B	0.03%
SNEX	B	0.03%
PMT	D	0.02%
OCFC	B	0.02%
SRCE	B	0.02%
EIG	B	0.02%
PEBO	B	0.02%
ARI	C	0.02%
BHLB	B	0.02%
RC	D	0.02%
ACT	D	0.02%
GABC	B	0.02%
WT	A	0.02%
NAVI	F	0.02%
WABC	B	0.02%
NBHC	B	0.02%
NNI	D	0.02%
NIC	B	0.02%
HTH	B	0.02%
VBTX	B	0.02%
CODI	B	0.02%
TCBK	B	0.02%
LOB	C	0.02%
LADR	B	0.02%
STBA	B	0.02%
SPNT	A	0.02%
MQ	F	0.02%
QCRH	B	0.02%
HOPE	B	0.02%
CUBI	C	0.02%
HMN	B	0.02%
BUSE	B	0.02%
CHCO	B	0.02%
LMND	A	0.02%
RKT	F	0.02%
LC	B	0.02%
SKWD	A	0.02%
DFIN	D	0.02%
LKFN	B	0.02%
NWBI	B	0.02%
SASR	B	0.02%
TRUP	B	0.02%
VRTS	B	0.02%
FCF	B	0.02%
FBNC	B	0.02%
STC	B	0.02%
CASH	B	0.02%
OFG	B	0.02%
CLBK	C	0.01%
HONE	B	0.01%
KRNY	B	0.01%
CCBG	B	0.01%
GDOT	D	0.01%
PX	A	0.01%
TRTX	B	0.01%
GSBC	B	0.01%
UFCS	A	0.01%
HAFC	B	0.01%
TREE	F	0.01%
UWMC	D	0.01%
NFBK	B	0.01%
NRDS	C	0.01%
BHB	B	0.01%
SPFI	B	0.01%
AMBC	C	0.01%
TIPT	B	0.01%
PGC	A	0.01%
KREF	D	0.01%
FMNB	B	0.01%
TRST	B	0.01%
MCB	B	0.01%
EZPW	A	0.01%
LPRO	C	0.01%
FSBC	B	0.01%
THFF	B	0.01%
CTLP	B	0.01%
MSBI	B	0.01%
PAY	A	0.01%
SMBC	B	0.01%
UVE	A	0.01%
IIIV	B	0.01%
CAC	B	0.01%
RBCAA	B	0.01%
EQBK	B	0.01%
BFH	B	0.01%
RPAY	D	0.01%
TFSL	A	0.01%
IMXI	B	0.01%
CPF	B	0.01%
BFST	B	0.01%
CASS	B	0.01%
MCBS	B	0.01%
AMTB	C	0.01%
FG	B	0.01%
CFFN	B	0.01%
FCBC	B	0.01%
HTBK	B	0.01%
CMTG	D	0.01%
PRA	B	0.01%
PFBC	B	0.01%
AMAL	B	0.01%
OSBC	B	0.01%
EGBN	B	0.01%
FMBH	B	0.01%
CCB	A	0.01%
CFB	C	0.01%
WASH	B	0.01%
HFWA	B	0.01%
TMP	B	0.01%
PRAA	C	0.01%
BFC	B	0.01%
BHRB	B	0.01%
HBNC	B	0.01%
BRSP	C	0.01%
MBIN	F	0.01%
BSIG	A	0.01%
DX	A	0.01%
MBWM	B	0.01%
RWT	D	0.01%
BY	B	0.01%
SBSI	B	0.01%
OBK	B	0.01%
ECPG	C	0.01%
CNOB	B	0.01%
EFC	C	0.01%
CTBI	B	0.01%
CNNE	B	0.01%
HCI	C	0.01%
IBCP	B	0.01%
BRKL	B	0.01%
FBMS	B	0.01%
UVSP	B	0.01%
FBRT	C	0.01%
AMSF	B	0.01%
PFC	B	0.01%
DCOM	A	0.01%
SAFT	B	0.01%
AROW	B	0.0%
RILY	F	0.0%
GCBC	C	0.0%
DGICA	A	0.0%
DHIL	A	0.0%
HGTY	B	0.0%
HBT	B	0.0%
WRLD	D	0.0%

FNCL Underweight 96 Positions Relative to DVAL

Symbol	Grade	Weight
LMT	D	-4.65%
CMCSA	B	-4.4%
IBM	C	-4.23%
DE	C	-3.74%
TMUS	B	-3.64%
HON	B	-3.58%
CSCO	B	-3.48%
GM	B	-3.36%
CAT	C	-3.21%
COP	B	-2.99%
MPC	D	-2.63%
CVX	A	-2.11%
BLDR	D	-1.85%
JNJ	D	-1.52%
STLD	B	-1.44%
LYB	F	-1.44%
WMT	A	-1.37%
MMM	D	-1.32%
WMB	A	-1.29%
PCAR	C	-1.24%
NUE	D	-1.19%
VLO	C	-1.19%
CSL	C	-1.08%
PHM	D	-1.05%
EXPD	D	-1.02%
KHC	F	-1.0%
RS	B	-0.99%
GIS	F	-0.97%
SCI	A	-0.93%
PG	C	-0.92%
JBL	C	-0.91%
OC	A	-0.87%
CF	A	-0.8%
EBAY	D	-0.77%
NRG	B	-0.76%
MGM	D	-0.74%
CRBG	B	-0.73%
BMY	A	-0.7%
PSX	C	-0.69%
IPG	F	-0.69%
DRI	C	-0.68%
MLM	B	-0.68%
BG	D	-0.67%
AMGN	D	-0.67%
NVR	D	-0.66%
EXPE	B	-0.66%
AN	D	-0.62%
MRO	A	-0.62%
FOXA	B	-0.53%
BERY	D	-0.52%
TXT	D	-0.52%
EOG	A	-0.51%
WH	B	-0.5%
ARMK	C	-0.48%
SYY	D	-0.46%
DIS	B	-0.46%
NXST	C	-0.43%
TRMB	B	-0.42%
FLEX	B	-0.41%
VZ	C	-0.4%
SAIC	F	-0.39%
MRK	F	-0.36%
TRGP	A	-0.36%
BC	D	-0.35%
KBH	D	-0.34%
RL	C	-0.33%
DVA	C	-0.31%
TOL	B	-0.31%
MUSA	B	-0.29%
R	B	-0.28%
RHI	C	-0.27%
DKS	D	-0.27%
BCC	C	-0.25%
AM	A	-0.24%
EXP	B	-0.23%
AOS	F	-0.23%
EMN	D	-0.22%
COKE	C	-0.22%
PVH	C	-0.2%
BLD	F	-0.2%
SNX	D	-0.19%
H	B	-0.19%
INGR	B	-0.18%
CBT	C	-0.17%
CNM	C	-0.16%
FANG	D	-0.15%
BYD	B	-0.14%
NEU	D	-0.14%
FMC	D	-0.13%
MDU	D	-0.13%
CHX	C	-0.1%
GPK	D	-0.1%
TPR	B	-0.08%
OMC	C	-0.05%
WSC	F	-0.04%
WCC	B	-0.0%