FQAL vs. SSPY ETF Comparison

Comparison of Fidelity Quality Factor ETF (FQAL) to Syntax Stratified LargeCap ETF (SSPY)

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

$64.50

Average Daily Volume

46,112

Number of Holdings ^*

124

* may have additional holdings in another (foreign) market

SSPY

Syntax Stratified LargeCap ETF

SSPY Description

The investment seeks to provide investment results that, before expenses, correspond generally to the total return performance of publicly traded equity securities of companies in the Syntax Stratified LargeCap Index (the "index"). Under normal market conditions, the fund generally invests substantially all, and at least 95% of its total assets in the securities comprising the index. The index, which was created by Syntax, LLC, an affiliate of the fund's investment adviser, is the stratified-weight version of the widely used S&P 500® Index and holds the same constituents as the S&P 500.

Grade (RS Rating)

Last Trade

$80.43

Average Daily Volume

2,704

Number of Holdings ^*

496

* may have additional holdings in another (foreign) market

Performance

Period	FQAL	SSPY
30 Days	1.99%	3.30%
60 Days	4.59%	5.09%
90 Days	4.90%	6.57%
12 Months	28.74%	21.73%

104 Overlapping Holdings

Symbol	Grade	Weight in FQAL	Weight in SSPY	Overlap
AAPL	C	6.81%	0.5%	0.5%
ABBV	C	1.39%	0.28%	0.28%
ABNB	D	0.69%	0.09%	0.09%
ACGL	C	0.8%	0.16%	0.16%
ACN	C	1.08%	0.16%	0.16%
ADBE	F	1.17%	0.16%	0.16%
ADP	B	0.62%	0.25%	0.25%
AMAT	D	0.87%	0.13%	0.13%
AME	C	0.47%	0.12%	0.12%
AMP	A	0.74%	0.09%	0.09%
AMT	C	0.34%	0.08%	0.08%
AVB	B	0.2%	0.13%	0.13%
AVGO	C	2.07%	0.21%	0.21%
AVY	C	0.17%	0.06%	0.06%
AZO	D	0.78%	0.15%	0.15%
BKNG	C	0.98%	0.12%	0.12%
BMY	C	0.91%	0.3%	0.3%
BX	B	0.88%	0.1%	0.1%
CAT	B	0.7%	0.13%	0.13%
CEG	C	0.32%	0.27%	0.27%
CF	C	0.16%	0.09%	0.09%
CL	D	0.43%	0.47%	0.43%
CME	C	0.85%	0.05%	0.05%
COP	D	0.39%	0.07%	0.07%
COST	B	1.06%	0.77%	0.77%
CPAY	B	0.72%	0.05%	0.05%
CPRT	D	0.44%	0.2%	0.2%
CSX	D	0.49%	0.09%	0.09%
CTAS	B	0.54%	0.22%	0.22%
CVX	D	0.61%	0.68%	0.61%
DPZ	F	0.68%	0.38%	0.38%
ECL	B	0.26%	0.05%	0.05%
EOG	D	0.29%	0.07%	0.07%
EQR	B	0.19%	0.13%	0.13%
ESS	B	0.17%	0.12%	0.12%
EXR	B	0.21%	0.12%	0.12%
FAST	C	0.47%	0.14%	0.14%
FCX	D	0.24%	0.22%	0.22%
FICO	B	0.82%	0.06%	0.06%
GILD	B	0.98%	0.31%	0.31%
GOOGL	D	3.44%	0.19%	0.19%
GRMN	D	0.79%	0.35%	0.35%
GWW	B	0.48%	0.14%	0.14%
HD	B	1.43%	0.27%	0.27%
HSY	C	0.3%	0.2%	0.2%
IDXX	C	0.83%	0.09%	0.09%
ITW	C	0.51%	0.18%	0.18%
JNJ	C	1.5%	0.28%	0.28%
KLAC	D	0.79%	0.14%	0.14%
KMB	D	0.34%	0.43%	0.34%
KO	C	0.79%	0.28%	0.28%
LIN	B	0.57%	0.05%	0.05%
LLY	C	2.24%	0.26%	0.26%
LMT	C	0.62%	0.1%	0.1%
LOW	B	0.99%	0.28%	0.28%
LRCX	F	0.75%	0.12%	0.12%
MA	B	1.45%	0.05%	0.05%
MCD	B	1.15%	0.57%	0.57%
MCO	B	0.8%	0.05%	0.05%
MDLZ	B	0.46%	0.21%	0.21%
META	B	2.47%	0.46%	0.46%
MLM	D	0.18%	0.15%	0.15%
MMM	B	0.53%	0.22%	0.22%
MNST	D	0.31%	0.26%	0.26%
MO	C	0.43%	0.43%	0.43%
MSCI	C	0.73%	0.05%	0.05%
MSFT	C	6.74%	0.32%	0.32%
MTD	D	0.71%	0.13%	0.13%
NEE	C	0.53%	0.28%	0.28%
NFLX	B	0.84%	0.22%	0.22%
NRG	C	0.24%	0.3%	0.24%
NUE	F	0.18%	0.22%	0.18%
NVDA	D	6.31%	0.11%	0.11%
O	C	0.24%	0.08%	0.08%
ODFL	D	0.42%	0.09%	0.09%
ORLY	C	0.8%	0.17%	0.17%
OTIS	C	0.44%	0.07%	0.07%
PANW	D	0.89%	0.18%	0.18%
PAYX	C	0.48%	0.24%	0.24%
PG	C	1.04%	0.44%	0.44%
PGR	B	1.02%	0.31%	0.31%
PLD	C	0.36%	0.08%	0.08%
PM	C	0.63%	0.45%	0.45%
PSA	B	0.26%	0.14%	0.14%
QCOM	D	0.98%	0.17%	0.17%
SBAC	C	0.18%	0.08%	0.08%
SHW	B	0.31%	0.08%	0.08%
SO	B	0.38%	0.09%	0.09%
SPG	B	0.23%	0.07%	0.07%
SPGI	B	0.99%	0.05%	0.05%
T	C	0.57%	0.41%	0.41%
TDG	B	0.54%	0.07%	0.07%
UNP	C	0.67%	0.09%	0.09%
V	C	1.54%	0.05%	0.05%
VICI	C	0.2%	0.08%	0.08%
VRSK	D	0.46%	0.04%	0.04%
VRTX	D	0.92%	0.25%	0.25%
VST	C	0.25%	0.3%	0.25%
VZ	B	0.62%	0.37%	0.37%
WEC	C	0.26%	0.09%	0.09%
WMB	B	0.28%	0.27%	0.27%
XOM	C	1.12%	0.76%	0.76%
YUM	D	0.75%	0.48%	0.48%
ZTS	C	0.92%	0.28%	0.28%

FQAL Overweight 20 Positions Relative to SSPY

Symbol	Grade	Weight
VEEV	C	0.9%
WSM	D	0.68%
KNSL	C	0.67%
MEDP	F	0.66%
JXN	A	0.63%
CBSH	C	0.63%
EWBC	D	0.62%
CFR	C	0.61%
QLYS	F	0.56%
TTD	B	0.38%
LNG	C	0.24%
NFG	B	0.2%
UGI	C	0.19%
TPL	B	0.19%
AM	C	0.18%
GLPI	C	0.16%
WHD	C	0.16%
EXP	B	0.15%
RS	D	0.15%
RGLD	C	0.15%

FQAL Underweight 392 Positions Relative to SSPY

Symbol	Grade	Weight
WMT	C	-0.88%
KR	C	-0.82%
TJX	B	-0.81%
SYY	D	-0.8%
ROST	C	-0.77%
SYF	C	-0.74%
DFS	B	-0.71%
COF	B	-0.68%
CVS	D	-0.63%
CHTR	D	-0.61%
SBUX	C	-0.59%
MSI	B	-0.58%
KVUE	C	-0.54%
BRK.A	C	-0.54%
CLX	C	-0.52%
L	C	-0.52%
EA	D	-0.52%
DRI	B	-0.52%
CMCSA	D	-0.51%
MTCH	C	-0.48%
TTWO	C	-0.47%
MPC	F	-0.46%
PSX	F	-0.45%
CMG	C	-0.44%
VLO	F	-0.43%
IBM	B	-0.42%
TSN	C	-0.42%
UHS	B	-0.41%
CHD	D	-0.41%
NI	B	-0.4%
ORCL	C	-0.4%
TYL	C	-0.4%
NOW	B	-0.4%
ATO	B	-0.39%
HCA	B	-0.39%
HRL	C	-0.39%
WBA	F	-0.38%
TMUS	C	-0.38%
J	C	-0.38%
ADM	D	-0.37%
OMC	B	-0.37%
AWK	B	-0.37%
BKR	C	-0.36%
APTV	D	-0.36%
CRM	D	-0.36%
PWR	B	-0.36%
BWA	D	-0.36%
BG	D	-0.35%
IPG	C	-0.34%
DHI	B	-0.33%
EXC	C	-0.33%
NEM	B	-0.32%
SLB	F	-0.31%
TRGP	B	-0.31%
HPQ	D	-0.31%
TSLA	C	-0.31%
UNH	C	-0.31%
EL	F	-0.31%
NVR	B	-0.3%
ALL	B	-0.3%
RL	C	-0.3%
EQIX	C	-0.3%
PHM	B	-0.3%
SWK	B	-0.3%
TPR	C	-0.3%
MOH	D	-0.3%
AES	C	-0.29%
EIX	C	-0.29%
JBL	D	-0.29%
CNC	D	-0.29%
AKAM	D	-0.29%
AEP	C	-0.29%
OKE	B	-0.29%
ETR	B	-0.29%
LEN	B	-0.29%
AMGN	B	-0.28%
HAS	B	-0.28%
DLR	B	-0.28%
FE	C	-0.28%
HAL	F	-0.28%
ED	C	-0.28%
VTRS	D	-0.28%
CDNS	D	-0.28%
D	C	-0.28%
GDDY	C	-0.28%
AIZ	B	-0.28%
PEG	B	-0.28%
GL	C	-0.27%
PFE	C	-0.27%
HUBB	B	-0.27%
GS	C	-0.27%
KMI	B	-0.27%
KDP	B	-0.27%
REGN	C	-0.27%
ELV	C	-0.27%
DECK	C	-0.27%
TAP	D	-0.27%
DTE	C	-0.27%
SNPS	D	-0.27%
MS	D	-0.26%
DAY	D	-0.26%
K	B	-0.26%
PAYC	D	-0.26%
SNA	C	-0.26%
INCY	C	-0.26%
MKC	C	-0.26%
VRSN	D	-0.26%
CTLT	B	-0.26%
AFL	C	-0.25%
FFIV	B	-0.25%
NKE	D	-0.25%
RJF	C	-0.25%
MHK	C	-0.25%
LULU	D	-0.25%
INTU	C	-0.24%
MPWR	C	-0.24%
GIS	B	-0.24%
CAG	C	-0.24%
AIG	D	-0.24%
STZ	D	-0.24%
GM	C	-0.24%
CPB	C	-0.24%
SJM	C	-0.23%
BLDR	C	-0.23%
KHC	C	-0.23%
HUM	F	-0.23%
WBD	D	-0.23%
ETN	C	-0.23%
CSCO	C	-0.22%
ENPH	D	-0.22%
GEV	B	-0.22%
PNR	B	-0.22%
CAH	C	-0.22%
MET	B	-0.22%
TXN	C	-0.22%
MRK	D	-0.22%
CNP	C	-0.22%
STLD	F	-0.22%
F	F	-0.22%
HSIC	C	-0.21%
PFG	B	-0.21%
ADI	C	-0.21%
BIIB	F	-0.21%
GLW	C	-0.21%
SCHW	D	-0.21%
ON	D	-0.21%
JNPR	B	-0.21%
CI	C	-0.21%
ANET	B	-0.21%
KEYS	C	-0.21%
MAS	B	-0.21%
PEP	C	-0.2%
PARA	F	-0.2%
RSG	D	-0.2%
SWKS	D	-0.2%
PRU	C	-0.2%
FTNT	C	-0.2%
IEX	D	-0.19%
WM	D	-0.19%
GE	B	-0.19%
UAL	C	-0.19%
STX	C	-0.19%
ROL	C	-0.19%
ADSK	C	-0.19%
QRVO	F	-0.19%
GOOG	D	-0.19%
AAL	D	-0.18%
TGT	C	-0.18%
XYL	C	-0.18%
EBAY	B	-0.18%
DIS	D	-0.18%
TEL	D	-0.18%
AOS	D	-0.18%
IR	C	-0.18%
NTAP	D	-0.18%
WY	C	-0.18%
DGX	B	-0.18%
LUV	C	-0.18%
BBY	C	-0.18%
NXPI	F	-0.18%
KMX	D	-0.17%
TXT	D	-0.17%
APH	D	-0.17%
CINF	B	-0.17%
DAL	C	-0.17%
DOV	B	-0.17%
GD	B	-0.17%
MCK	F	-0.17%
HPE	D	-0.16%
LW	D	-0.16%
IQV	C	-0.16%
WRB	C	-0.16%
FSLR	C	-0.16%
CTSH	C	-0.16%
CB	B	-0.16%
WDC	D	-0.16%
HON	D	-0.16%
ANSS	D	-0.16%
PTC	D	-0.16%
HIG	B	-0.16%
TRV	C	-0.16%
ULTA	D	-0.16%
GPC	D	-0.15%
LKQ	F	-0.15%
EG	C	-0.15%
A	C	-0.15%
TMO	B	-0.15%
EPAM	F	-0.15%
IT	B	-0.15%
VMC	D	-0.15%
WAT	C	-0.15%
CRL	F	-0.14%
AMCR	B	-0.14%
STE	C	-0.14%
TECH	C	-0.14%
ZBRA	B	-0.14%
EQT	D	-0.14%
CTRA	D	-0.14%
LDOS	B	-0.14%
VTR	C	-0.14%
DVN	F	-0.14%
URI	B	-0.14%
ISRG	B	-0.14%
BA	F	-0.14%
TER	D	-0.14%
BXP	B	-0.14%
AMZN	C	-0.14%
UDR	C	-0.13%
POOL	C	-0.13%
DVA	B	-0.13%
DE	B	-0.13%
MAA	B	-0.13%
SYK	C	-0.13%
JPM	D	-0.13%
WAB	B	-0.13%
STT	A	-0.13%
BK	B	-0.13%
ETSY	F	-0.13%
WELL	C	-0.13%
ARE	C	-0.12%
FOX	B	-0.12%
BR	D	-0.12%
FOXA	B	-0.12%
RMD	C	-0.12%
EXPE	C	-0.12%
C	C	-0.12%
MRNA	F	-0.12%
BAC	D	-0.12%
CDW	D	-0.12%
ZBH	F	-0.12%
DOC	C	-0.12%
BALL	C	-0.12%
TSCO	C	-0.12%
AMD	D	-0.12%
CPT	B	-0.12%
MAR	C	-0.11%
HST	C	-0.11%
AXON	B	-0.11%
BBWI	F	-0.11%
PCAR	D	-0.11%
MCHP	F	-0.11%
DLTR	F	-0.11%
UBER	C	-0.11%
DG	F	-0.11%
INVH	C	-0.11%
HLT	B	-0.11%
CRWD	D	-0.11%
WFC	D	-0.11%
PODD	B	-0.11%
ALGN	D	-0.1%
FDX	C	-0.1%
NWS	D	-0.1%
NCLH	C	-0.1%
CHRW	B	-0.1%
NOC	B	-0.1%
SMCI	F	-0.1%
DUK	C	-0.09%
LHX	C	-0.09%
JBHT	D	-0.09%
ES	C	-0.09%
IRM	C	-0.09%
PPL	C	-0.09%
DHR	B	-0.09%
CARR	B	-0.09%
EVRG	B	-0.09%
HWM	B	-0.09%
PH	B	-0.09%
PNW	C	-0.09%
CMS	C	-0.09%
NTRS	A	-0.09%
CTVA	B	-0.09%
INTC	F	-0.09%
ALLE	B	-0.09%
HII	D	-0.09%
XEL	B	-0.09%
IVZ	B	-0.09%
AEE	C	-0.09%
LNT	B	-0.09%
BLK	B	-0.09%
NSC	C	-0.09%
GEHC	C	-0.09%
LYV	B	-0.09%
RCL	B	-0.09%
RTX	C	-0.09%
NWSA	D	-0.09%
HOLX	B	-0.09%
KKR	B	-0.09%
FMC	C	-0.09%
CCL	C	-0.09%
BIO	C	-0.09%
FRT	C	-0.08%
MOS	F	-0.08%
JCI	B	-0.08%
GNRC	D	-0.08%
UPS	D	-0.08%
REG	C	-0.08%
CCI	C	-0.08%
EXPD	C	-0.08%
MU	F	-0.08%
PCG	C	-0.08%
SRE	C	-0.08%
CMI	C	-0.08%
KIM	C	-0.08%
TT	B	-0.08%
FITB	B	-0.07%
LYB	D	-0.07%
KEY	B	-0.07%
MTB	B	-0.07%
FANG	D	-0.07%
BSX	B	-0.07%
IP	B	-0.07%
MRO	C	-0.07%
MDT	C	-0.07%
ABT	C	-0.07%
CZR	C	-0.07%
PKG	B	-0.07%
TROW	D	-0.07%
BEN	F	-0.07%
MKTX	C	-0.06%
SW	B	-0.06%
TFX	C	-0.06%
WYNN	D	-0.06%
CE	F	-0.06%
BAX	C	-0.06%
DXCM	F	-0.06%
MGM	F	-0.06%
OXY	F	-0.06%
FIS	B	-0.06%
JKHY	B	-0.06%
DOW	D	-0.06%
LVS	D	-0.06%
APA	F	-0.06%
HES	F	-0.06%
USB	B	-0.06%
SOLV	C	-0.06%
PYPL	B	-0.06%
HBAN	B	-0.06%
PNC	B	-0.06%
TFC	C	-0.06%
CFG	C	-0.06%
RF	B	-0.06%
PPG	D	-0.06%
DD	B	-0.05%
BDX	D	-0.05%
EW	F	-0.05%
CBRE	A	-0.05%
EMN	B	-0.05%
APD	B	-0.05%
AXP	B	-0.05%
IFF	B	-0.05%
GPN	D	-0.05%
EFX	B	-0.05%
ICE	C	-0.05%
CBOE	C	-0.05%
NDAQ	A	-0.05%
TDY	B	-0.04%
ALB	D	-0.04%
MMC	C	-0.04%
WTW	C	-0.04%
BRO	C	-0.04%
AJG	D	-0.04%
CSGP	D	-0.04%
AON	B	-0.04%
WST	D	-0.04%
FDS	C	-0.04%
EMR	D	-0.03%
FTV	C	-0.03%
ROP	C	-0.03%
ROK	D	-0.03%
TRMB	C	-0.03%
VLTO	C	-0.03%
NDSN	C	-0.03%