FQAL vs. REW ETF Comparison

Comparison of Fidelity Quality Factor ETF (FQAL) to ProShares UltraShort Technology (REW)

FQAL

Fidelity Quality Factor ETF

FQAL Description

The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity U.S. Quality Factor Index. Normally investing at least 80% of assets in securities included in the Fidelity U.S. Quality Factor Index, which is designed to reflect the performance of stocks of large and mid-capitalization U.S. companies with a higher quality profile than the broader market.

Grade (RS Rating)

Last Trade

$67.19

Average Daily Volume

29,912

Number of Holdings ^*

124

* may have additional holdings in another (foreign) market

REW

ProShares UltraShort Technology

REW Description

The investment seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the Dow Jones U.S. TechnologySM Index. The fund invests in derivatives that ProShare Advisors believes, in combination, should have similar daily return characteristics as two times the inverse (-2x) of the daily return of the index. The index measures the performance of the technology sector of the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$10.26

Average Daily Volume

16,636

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FQAL	REW
30 Days	2.60%	-4.57%
60 Days	4.35%	-9.33%
90 Days	5.86%	-8.88%
12 Months	30.56%	-39.43%

16 Overlapping Holdings

Symbol	Grade	Weight in FQAL	Weight in REW	Overlap
AAPL	C	6.62%	18.06%	6.62%
ADBE	C	0.97%	2.51%	0.97%
AMAT	F	0.77%	0.86%	0.77%
AVGO	D	2.0%	1.82%	1.82%
FICO	B	0.96%	0.17%	0.17%
GOOGL	C	3.69%	5.25%	3.69%
GRMN	B	0.86%	0.21%	0.21%
KLAC	D	0.64%	0.42%	0.42%
LRCX	F	0.67%	0.66%	0.66%
META	D	2.51%	4.46%	2.51%
MSFT	F	6.3%	17.29%	6.3%
NVDA	C	7.24%	2.26%	2.26%
PANW	C	0.96%	0.35%	0.35%
QCOM	F	0.91%	1.63%	0.91%
TTD	B	0.41%	0.17%	0.17%
VEEV	C	0.84%	0.29%	0.29%

FQAL Overweight 108 Positions Relative to REW

Symbol	Grade	Weight
LLY	F	1.72%
V	A	1.61%
HD	A	1.5%
MA	C	1.48%
JNJ	D	1.35%
BKNG	A	1.21%
XOM	B	1.16%
ABBV	D	1.14%
MCD	D	1.11%
BX	A	1.05%
ACN	C	1.05%
BMY	B	1.02%
LOW	D	1.02%
COST	B	1.01%
PGR	A	1.0%
GILD	C	1.0%
PG	A	0.98%
NFLX	A	0.97%
AMP	A	0.92%
SPGI	C	0.92%
VRTX	F	0.86%
CME	A	0.85%
ORLY	B	0.84%
CPAY	A	0.82%
ZTS	D	0.81%
EWBC	A	0.78%
CAT	B	0.77%
CFR	B	0.77%
MCO	B	0.76%
MSCI	C	0.75%
AZO	C	0.75%
ABNB	C	0.75%
JXN	C	0.74%
YUM	B	0.72%
ACGL	D	0.71%
CBSH	A	0.71%
DPZ	C	0.69%
CVX	A	0.68%
IDXX	F	0.67%
KO	D	0.66%
KNSL	B	0.65%
QLYS	C	0.64%
ADP	B	0.64%
WSM	B	0.63%
PM	B	0.63%
UNP	C	0.61%
MTD	D	0.58%
MEDP	D	0.57%
T	A	0.57%
LMT	D	0.56%
VZ	C	0.56%
CTAS	B	0.55%
GWW	B	0.55%
ITW	B	0.54%
FAST	B	0.53%
AME	A	0.52%
LIN	D	0.52%
MMM	D	0.5%
TDG	D	0.49%
CSX	B	0.49%
PAYX	C	0.49%
CPRT	A	0.48%
NEE	D	0.47%
VRSK	A	0.46%
OTIS	C	0.45%
ODFL	B	0.45%
MO	A	0.44%
VST	B	0.43%
COP	C	0.41%
MDLZ	F	0.38%
CL	D	0.36%
SO	D	0.36%
CEG	D	0.36%
WMB	A	0.34%
EOG	A	0.32%
MNST	C	0.31%
KMB	D	0.31%
TPL	A	0.31%
PLD	D	0.3%
SHW	A	0.3%
LNG	B	0.28%
NRG	B	0.27%
AMT	D	0.27%
WEC	A	0.26%
SPG	B	0.25%
HSY	F	0.25%
FCX	D	0.24%
ECL	D	0.24%
PSA	D	0.23%
O	D	0.21%
NFG	A	0.2%
AM	A	0.19%
EXR	D	0.19%
UGI	A	0.19%
AVB	B	0.19%
MLM	B	0.19%
WHD	B	0.18%
VICI	C	0.18%
NUE	C	0.18%
RS	B	0.17%
EQR	B	0.17%
CF	B	0.17%
SBAC	D	0.16%
ESS	B	0.16%
EXP	A	0.16%
RGLD	C	0.15%
AVY	D	0.15%
GLPI	C	0.14%

FQAL Underweight 72 Positions Relative to REW

Symbol	Grade	Weight
GOOG	C	-5.24%
INTC	D	-3.85%
CSCO	B	-3.09%
CRM	B	-2.4%
TXN	C	-1.83%
IBM	C	-1.82%
ORCL	B	-1.77%
INTU	C	-1.09%
MU	D	-0.95%
NOW	A	-0.87%
AMD	F	-0.84%
ADI	D	-0.65%
ADSK	A	-0.63%
CTSH	B	-0.51%
HPQ	B	-0.48%
MSI	B	-0.45%
WDAY	B	-0.44%
EBAY	D	-0.41%
MCHP	D	-0.39%
SNPS	B	-0.34%
ANSS	B	-0.34%
VRSN	F	-0.33%
CDNS	B	-0.31%
SWKS	F	-0.31%
IAC	D	-0.3%
WDC	D	-0.3%
HPE	B	-0.29%
CDW	F	-0.29%
MRVL	B	-0.28%
FTNT	C	-0.25%
AKAM	D	-0.23%
PAYC	B	-0.22%
TWLO	A	-0.22%
SNAP	C	-0.22%
SSNC	B	-0.21%
STX	D	-0.21%
OKTA	C	-0.21%
NTAP	C	-0.21%
IT	C	-0.21%
RNG	B	-0.21%
QRVO	F	-0.2%
LDOS	C	-0.2%
LUMN	C	-0.2%
GDDY	A	-0.19%
EPAM	C	-0.19%
ANET	C	-0.18%
TYL	B	-0.18%
BAH	F	-0.17%
TER	D	-0.17%
DOX	D	-0.15%
ON	D	-0.15%
DXC	B	-0.14%
GWRE	A	-0.14%
AZPN	A	-0.14%
OLED	D	-0.13%
DOCU	A	-0.13%
DELL	C	-0.12%
JNPR	F	-0.12%
FFIV	B	-0.12%
PTC	A	-0.12%
HUBS	A	-0.11%
DAY	B	-0.11%
MPWR	F	-0.11%
ENTG	D	-0.11%
CIEN	B	-0.1%
CACI	D	-0.1%
XRX	F	-0.1%
LITE	B	-0.09%
SNX	C	-0.09%
Z	A	-0.09%
ETSY	D	-0.09%
MKSI	C	-0.09%