FQAL vs. TVAL ETF Comparison

Comparison of Fidelity Quality Factor ETF (FQAL) to T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Value ETF (TVAL)

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

TVAL

T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Value ETF

TVAL Description

The fund will invest primarily in U.S. equity securities. In taking a value approach to investment selection, the adviser seeks to identify companies that appear to be undervalued by various measures, and may be temporarily out of favor, but have good prospects for capital appreciation. Some of the principal measures used to identify such stocks are: price/earnings ratio, price/book value ratio, price/sales ratio, dividend yield, price/cash flow, undervalued assets, and restructuring opportunities. The fund may purchase the stocks of companies of any size, but typically focuses on larger companies.

Grade (RS Rating)

Last Trade

$33.11

Average Daily Volume

13,066

Number of Holdings ^*

144

* may have additional holdings in another (foreign) market

Performance

Period	FQAL	TVAL
30 Days	2.60%	2.98%
60 Days	4.35%	4.22%
90 Days	5.86%	5.88%
12 Months	30.56%	29.14%

45 Overlapping Holdings

Symbol	Grade	Weight in FQAL	Weight in TVAL	Overlap
ABBV	D	1.14%	0.36%	0.36%
ACN	C	1.05%	0.7%	0.7%
AMAT	F	0.77%	0.38%	0.38%
AME	A	0.52%	0.31%	0.31%
AVB	B	0.19%	1.22%	0.19%
AVY	D	0.15%	0.19%	0.15%
AZO	C	0.75%	0.52%	0.52%
CAT	B	0.77%	0.3%	0.3%
CF	B	0.17%	0.52%	0.17%
CL	D	0.36%	0.84%	0.36%
CME	A	0.85%	0.23%	0.23%
COP	C	0.41%	1.25%	0.41%
CPAY	A	0.82%	0.42%	0.42%
CSX	B	0.49%	0.49%	0.49%
CVX	A	0.68%	0.73%	0.68%
EOG	A	0.32%	0.82%	0.32%
HD	A	1.5%	0.63%	0.63%
JNJ	D	1.35%	1.82%	1.35%
KMB	D	0.31%	0.66%	0.31%
KO	D	0.66%	0.72%	0.66%
LIN	D	0.52%	0.73%	0.52%
LLY	F	1.72%	1.19%	1.19%
MCD	D	1.11%	0.46%	0.46%
MDLZ	F	0.38%	0.43%	0.38%
META	D	2.51%	0.87%	0.87%
MSFT	F	6.3%	0.65%	0.65%
NEE	D	0.47%	0.59%	0.47%
OTIS	C	0.45%	0.3%	0.3%
PG	A	0.98%	0.72%	0.72%
PGR	A	1.0%	0.48%	0.48%
PLD	D	0.3%	0.34%	0.3%
PM	B	0.63%	1.41%	0.63%
PSA	D	0.23%	0.44%	0.23%
QCOM	F	0.91%	1.08%	0.91%
SO	D	0.36%	1.67%	0.36%
SPGI	C	0.92%	0.26%	0.26%
TDG	D	0.49%	0.46%	0.46%
UNP	C	0.61%	0.42%	0.42%
VRTX	F	0.86%	0.29%	0.29%
VST	B	0.43%	0.74%	0.43%
VZ	C	0.56%	0.58%	0.56%
WMB	A	0.34%	0.46%	0.34%
XOM	B	1.16%	2.56%	1.16%
YUM	B	0.72%	0.36%	0.36%
ZTS	D	0.81%	0.23%	0.23%

FQAL Overweight 79 Positions Relative to TVAL

Symbol	Grade	Weight
NVDA	C	7.24%
AAPL	C	6.62%
GOOGL	C	3.69%
AVGO	D	2.0%
V	A	1.61%
MA	C	1.48%
BKNG	A	1.21%
BX	A	1.05%
BMY	B	1.02%
LOW	D	1.02%
COST	B	1.01%
GILD	C	1.0%
ADBE	C	0.97%
NFLX	A	0.97%
FICO	B	0.96%
PANW	C	0.96%
AMP	A	0.92%
GRMN	B	0.86%
ORLY	B	0.84%
VEEV	C	0.84%
EWBC	A	0.78%
CFR	B	0.77%
MCO	B	0.76%
MSCI	C	0.75%
ABNB	C	0.75%
JXN	C	0.74%
ACGL	D	0.71%
CBSH	A	0.71%
DPZ	C	0.69%
LRCX	F	0.67%
IDXX	F	0.67%
KNSL	B	0.65%
QLYS	C	0.64%
ADP	B	0.64%
KLAC	D	0.64%
WSM	B	0.63%
MTD	D	0.58%
MEDP	D	0.57%
T	A	0.57%
LMT	D	0.56%
CTAS	B	0.55%
GWW	B	0.55%
ITW	B	0.54%
FAST	B	0.53%
MMM	D	0.5%
PAYX	C	0.49%
CPRT	A	0.48%
VRSK	A	0.46%
ODFL	B	0.45%
MO	A	0.44%
TTD	B	0.41%
CEG	D	0.36%
MNST	C	0.31%
TPL	A	0.31%
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%
O	D	0.21%
NFG	A	0.2%
AM	A	0.19%
EXR	D	0.19%
UGI	A	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%
SBAC	D	0.16%
ESS	B	0.16%
EXP	A	0.16%
RGLD	C	0.15%
GLPI	C	0.14%

FQAL Underweight 99 Positions Relative to TVAL

Symbol	Grade	Weight
CB	C	-2.23%
HIG	B	-1.96%
UNH	C	-1.9%
WMT	A	-1.89%
BAC	A	-1.89%
ELV	F	-1.81%
WFC	A	-1.77%
FI	A	-1.53%
KVUE	A	-1.49%
LHX	C	-1.36%
JPM	A	-1.23%
GE	D	-1.21%
TMO	F	-1.12%
SWK	D	-1.1%
CMI	A	-1.09%
BDX	F	-1.01%
EQH	B	-1.0%
GOOG	C	-0.95%
SCHW	B	-0.89%
TMUS	B	-0.88%
WY	D	-0.88%
AIG	B	-0.87%
CI	F	-0.87%
ZBH	C	-0.85%
C	A	-0.81%
MCK	B	-0.8%
MRK	F	-0.8%
FITB	A	-0.77%
NWSA	B	-0.75%
NSC	B	-0.74%
TXN	C	-0.7%
HUBB	B	-0.7%
GEV	B	-0.7%
TTE	F	-0.7%
HON	B	-0.68%
SRE	A	-0.68%
MMC	B	-0.67%
AEE	A	-0.65%
DHR	F	-0.65%
IP	B	-0.64%
RSG	A	-0.62%
WDC	D	-0.6%
USB	A	-0.56%
BA	F	-0.56%
MS	A	-0.56%
D	C	-0.55%
RPM	A	-0.52%
ROK	B	-0.52%
BAX	D	-0.5%
HWM	A	-0.48%
REXR	F	-0.48%
AZN	D	-0.47%
MAR	B	-0.47%
CMCSA	B	-0.46%
EQT	B	-0.46%
APO	B	-0.46%
HBAN	A	-0.45%
ARES	A	-0.45%
MU	D	-0.45%
HCA	F	-0.45%
BLK	C	-0.43%
FANG	D	-0.43%
REGN	F	-0.42%
LEN	D	-0.42%
LVS	C	-0.41%
LAMR	D	-0.4%
KDP	D	-0.4%
CAG	D	-0.4%
TSM	B	-0.39%
ALL	A	-0.39%
BKR	B	-0.35%
KEYS	A	-0.35%
ADI	D	-0.35%
MSI	B	-0.34%
EFX	F	-0.33%
A	D	-0.33%
COF	B	-0.33%
STLD	B	-0.32%
UAL	A	-0.31%
TT	A	-0.31%
ROP	B	-0.29%
TJX	A	-0.29%
MOH	F	-0.28%
UPS	C	-0.28%
CARR	D	-0.27%
MCHP	D	-0.27%
AXP	A	-0.26%
CDW	F	-0.25%
MGM	D	-0.24%
CVS	D	-0.23%
HAL	C	-0.22%
VMC	B	-0.22%
AMD	F	-0.22%
MET	A	-0.22%
BHP	F	-0.2%
DIS	B	-0.2%
SNY	F	-0.19%
DTE	C	-0.17%
EQIX	A	-0.16%