FPFD vs. VRP ETF Comparison

Comparison of Fidelity Preferred Securities & Income ETF (FPFD) to PowerShares Variable Rate Preferred Portfolio (VRP)

FPFD

Fidelity Preferred Securities & Income ETF

FPFD Description

The investment seeks high total return through a combination of current income and capital appreciation. The fund normally invests at least 80% of the fund's assets in preferred securities and other income-producing securities. It normally invests in all types of preferred securities and other income-producing securities such as contingent convertible securities and corporate hybrid securities. The fund primarily invests in securities rated at least BB by S&P, Ba by Moodys, comparably rated by at least one nationally recognized credit rating agency, or, if unrated, considered by FMR to be of comparable quality. It is non-diversified.

Grade (RS Rating)

Last Trade

$21.96

Average Daily Volume

17,612

Number of Holdings ^*

* may have additional holdings in another (foreign) market

VRP

PowerShares Variable Rate Preferred Portfolio

VRP Description

The investment seeks investment results that generally correspond (before fees and expenses) to the price and yield of the Wells FargoÂ® Hybrid and Preferred Securities Floating and Variable Rate Index. The index is a market capitalization-weighted index designed to track the performance of preferred stock, as well as certain types of "hybrid securities" that are functionally equivalent to preferred stocks, that are issued by US-based or foreign issuers and that pay a floating or variable rate dividend or coupon. The fund generally will invest at least 90% of its total assets in the securities that comprise the index. It is non-diversified.

Grade (RS Rating)

Last Trade

$24.35

Average Daily Volume

309,671

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FPFD	VRP
30 Days	-1.30%	0.26%
60 Days	-2.01%	0.47%
90 Days	0.00%	2.17%
12 Months	13.12%	15.47%

2 Overlapping Holdings

	Symbol	Grade	Weight in FPFD	Weight in VRP	Overlap
	AQNB	C	0.2%	0.16%	0.16%
	WTFCM	A	0.13%	0.06%	0.06%

FPFD Overweight 11 Positions Relative to VRP

Symbol	Grade	Weight
T	A	1.11%
AFGE	D	0.31%
SOJD	D	0.28%
RZC	C	0.27%
UNMA	C	0.23%
TBB	C	0.21%
UZE	B	0.19%
AIZN	D	0.14%
ACGLO	D	0.12%
PRS	C	0.1%
ELC	D	0.06%

FPFD Underweight 16 Positions Relative to VRP

Symbol	Grade	Weight
AGNC	C	-0.26%
CHSCM	D	-0.22%
FITBI	B	-0.21%
CHSCN	D	-0.19%
RZB	C	-0.18%
AGNCN	A	-0.15%
ESGRP	D	-0.15%
WTFCP	A	-0.13%
TVC	C	-0.11%
NYMTM	A	-0.08%
TVE	C	-0.08%
ZIONO	D	-0.07%
NYMTL	A	-0.06%
NYMTN	D	-0.06%
VLYPO	B	-0.05%
VLYPP	A	-0.05%

FPFD: Top Represented Industries & Keywords

Industries: Other Banks - Regional - US Insurance - Diversified Telecom Services