FTQI vs. FBUF ETF Comparison

Comparison of First Trust Low Beta Income ETF (FTQI) to Fidelity Dynamic Buffered Equity ETF (FBUF)

FTQI

First Trust Low Beta Income ETF

FTQI Description

The investment seeks to provide current income. The fund will pursue its objective by investing in large cap equity securities listed on U.S. exchanges and by utilizing an "option strategy" consisting of buying U.S. exchange-traded put options on the Standard & Poor's 500(c) Index (the "index") and writing (selling) U.S. exchange-traded covered call options on the index. The market value of the option strategy may be up to 20% of the fund's overall net asset value. The equity securities in which the fund will invest and the options which the fund will buy and write will be limited to U.S. exchange-traded securities and options. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$20.89

Average Daily Volume

181,406

Number of Holdings ^*

195

* may have additional holdings in another (foreign) market

FBUF

Fidelity Dynamic Buffered Equity ETF

FBUF Description

FBUF seeks capital appreciation by investing in a large-cap equity portfolio of US and foreign stocks while utilizing a defensive options collar strategy. The fund aims to outperform the S&P 500 by picking stocks using a computer-aided, quantitative analysis of historical valuation, growth, and profitability, among other factors. The proprietary process seeks to find the optimal portfolio holdings, overweight stocks with positive characteristics, and manage benchmark relative risks. For the options strategy, the fund typically buys out-of-the-money put options on the S&P 500 Index and simultaneously sells out-of-the-money S&P 500 Index call options. Premium earned from writing calls is intended to offset the cost of buying puts, but this essentially caps the upside returns of the equity portfolio. For a continuous downside hedge, the adviser selects put options through a laddered approach that rolls monthly. The adviser diversifies the written call positions, which are rolled weekly, with different strike prices and expiration dates.

Grade (RS Rating)

Last Trade

$27.53

Average Daily Volume

5,177

Number of Holdings ^*

155

* may have additional holdings in another (foreign) market

Performance

Period	FTQI	FBUF
30 Days	2.45%	3.10%
60 Days	3.28%	4.70%
90 Days	5.53%	6.08%
12 Months	18.20%

47 Overlapping Holdings

Symbol	Grade	Weight in FTQI	Weight in FBUF	Overlap
AAPL	C	9.03%	7.34%	7.34%
ABBV	D	0.17%	0.91%	0.17%
ADBE	C	1.22%	0.94%	0.94%
AMT	D	0.27%	0.21%	0.21%
AMZN	C	4.39%	3.84%	3.84%
ANET	C	0.29%	0.06%	0.06%
AVGO	D	4.07%	1.62%	1.62%
AXP	A	0.15%	0.43%	0.15%
CAT	B	0.15%	0.53%	0.15%
CINF	A	0.17%	0.07%	0.07%
CL	D	0.19%	0.55%	0.19%
CME	A	0.96%	0.44%	0.44%
COST	B	2.64%	0.3%	0.3%
CRM	B	0.58%	1.16%	0.58%
CSCO	B	1.56%	0.8%	0.8%
DOCU	A	0.09%	0.09%	0.09%
GE	D	0.12%	0.48%	0.12%
GOOG	C	1.87%	1.89%	1.87%
GOOGL	C	1.87%	2.04%	1.87%
INCY	C	0.19%	0.34%	0.19%
INTU	C	1.32%	0.12%	0.12%
LLY	F	0.9%	0.76%	0.76%
MEDP	D	0.27%	0.28%	0.27%
META	D	4.15%	2.89%	2.89%
MSFT	F	8.03%	5.66%	5.66%
MSI	B	0.22%	0.43%	0.22%
NBIX	C	0.21%	0.06%	0.06%
NFLX	A	2.4%	1.28%	1.28%
NOW	A	0.46%	0.5%	0.46%
NVDA	C	5.22%	7.37%	5.22%
ORCL	B	0.75%	0.04%	0.04%
PEP	F	1.45%	0.19%	0.19%
PGR	A	0.14%	0.67%	0.14%
QCOM	F	1.11%	0.85%	0.85%
QRVO	F	0.03%	0.06%	0.03%
SPGI	C	0.6%	0.21%	0.21%
SSNC	B	0.17%	0.18%	0.17%
TMUS	B	1.78%	0.28%	0.28%
TROW	B	0.1%	0.28%	0.1%
TSLA	B	3.05%	1.27%	1.27%
UTHR	C	0.18%	0.04%	0.04%
V	A	0.24%	0.65%	0.24%
VEEV	C	0.13%	0.04%	0.04%
WM	A	0.11%	0.41%	0.11%
WMT	A	0.39%	0.82%	0.39%
XOM	B	0.15%	1.56%	0.15%
ZBRA	B	0.37%	0.52%	0.37%

FTQI Overweight 148 Positions Relative to FBUF

Symbol	Grade	Weight
TXN	C	1.54%
AMD	F	1.45%
EQIX	A	1.25%
LIN	D	1.19%
NTAP	C	0.79%
CHKP	D	0.72%
APH	A	0.58%
MGEE	C	0.58%
APP	B	0.52%
UFPI	B	0.51%
PTC	A	0.5%
LNT	A	0.49%
DUOL	A	0.48%
CASY	A	0.43%
TYL	B	0.4%
BGC	C	0.39%
STX	D	0.38%
CG	A	0.37%
NDAQ	A	0.36%
A	D	0.34%
WFRD	D	0.31%
IESC	B	0.31%
PAGP	A	0.29%
BCPC	B	0.29%
TSCO	D	0.28%
SBAC	D	0.28%
SNY	F	0.28%
MORN	B	0.28%
EWBC	A	0.28%
PNFP	B	0.27%
OTTR	C	0.27%
EVRG	A	0.26%
SOFI	A	0.26%
WWD	B	0.25%
LITE	B	0.25%
AXON	A	0.25%
ICLR	D	0.25%
UMBF	B	0.24%
CYBR	B	0.24%
UPST	B	0.24%
IDCC	A	0.24%
COIN	C	0.24%
STRL	B	0.24%
MTSI	B	0.23%
HOOD	B	0.23%
ERIE	D	0.22%
RVMD	C	0.22%
PTEN	C	0.22%
EXPE	B	0.22%
COKE	C	0.2%
PODD	C	0.2%
NTRA	B	0.2%
MANH	D	0.2%
DJT	C	0.2%
MPWR	F	0.2%
FFIV	B	0.2%
SAIA	B	0.2%
NTRS	A	0.19%
FCNCA	A	0.18%
AAON	B	0.18%
HBAN	A	0.18%
REG	B	0.18%
NOVT	D	0.18%
ZION	B	0.18%
ICUI	D	0.18%
MKSI	C	0.18%
CHRW	C	0.18%
TRMB	B	0.18%
VRNS	D	0.18%
OLLI	D	0.18%
GH	B	0.17%
MDGL	B	0.17%
DOX	D	0.17%
EBAY	D	0.17%
OLED	D	0.17%
LECO	B	0.16%
WIX	B	0.16%
MASI	A	0.16%
ARGX	A	0.16%
ITRI	B	0.16%
JAZZ	B	0.16%
MUSA	A	0.16%
PCVX	D	0.16%
BNTX	D	0.16%
FITB	A	0.16%
WTW	B	0.16%
LSTR	D	0.15%
POOL	C	0.15%
JBHT	C	0.15%
FRPT	B	0.14%
PH	A	0.14%
RMD	C	0.14%
BSY	D	0.14%
ETN	A	0.14%
ENSG	D	0.14%
HALO	F	0.14%
CHDN	B	0.14%
ULTA	F	0.14%
MKTX	D	0.13%
TECH	D	0.13%
MIDD	C	0.13%
SFM	A	0.13%
MRUS	F	0.13%
WAT	B	0.13%
CYTK	F	0.13%
RGLD	C	0.13%
TTEK	F	0.13%
VMC	B	0.13%
VKTX	F	0.12%
ALNY	D	0.12%
LANC	C	0.12%
KRYS	B	0.12%
TWST	D	0.12%
ROIV	C	0.12%
LOW	D	0.12%
MTD	D	0.11%
UFPT	B	0.11%
SHOO	D	0.11%
MMYT	B	0.09%
BL	B	0.09%
LOGI	D	0.09%
HOLX	D	0.09%
TRMD	F	0.09%
CRVL	A	0.09%
CVLT	B	0.08%
CSWI	A	0.07%
BMRN	D	0.06%
ASND	D	0.05%
NWSA	B	0.05%
ACGL	D	0.05%
TW	A	0.05%
GEV	B	0.05%
CVCO	A	0.04%
APA	D	0.03%
RGEN	D	0.02%
OKTA	C	0.02%
REYN	D	0.01%
RXST	F	0.01%
TMDX	F	0.01%
ACHC	F	0.01%
LEGN	F	0.01%
ACLS	F	0.01%
APLS	D	0.01%
LNTH	D	0.01%
XRAY	F	0.01%
SRPT	D	0.01%
EXAS	D	0.01%
RPRX	D	0.01%

FTQI Underweight 108 Positions Relative to FBUF

Symbol	Grade	Weight
BRK.A	B	-2.2%
JPM	A	-1.93%
MA	C	-1.36%
HD	A	-1.32%
BAC	A	-1.18%
MRK	F	-0.96%
PM	B	-0.94%
CMCSA	B	-0.84%
NEE	D	-0.82%
PG	A	-0.8%
SCHW	B	-0.79%
UNP	C	-0.75%
BMY	B	-0.74%
GILD	C	-0.74%
JNJ	D	-0.73%
PYPL	B	-0.72%
TJX	A	-0.72%
C	A	-0.72%
T	A	-0.71%
LMT	D	-0.71%
TT	A	-0.68%
AMAT	F	-0.67%
CTAS	B	-0.65%
DIS	B	-0.65%
ECL	D	-0.63%
CI	F	-0.63%
ABT	B	-0.63%
KLAC	D	-0.61%
SQ	B	-0.6%
NOC	D	-0.6%
BDX	F	-0.58%
UNH	C	-0.57%
SEIC	B	-0.54%
MMC	B	-0.53%
ZM	B	-0.53%
DBX	B	-0.52%
CVNA	B	-0.52%
DVN	F	-0.52%
MU	D	-0.5%
TXT	D	-0.5%
CSX	B	-0.49%
EOG	A	-0.48%
CMG	B	-0.47%
IGT	F	-0.46%
SPG	B	-0.44%
GRMN	B	-0.44%
EXEL	B	-0.43%
PFE	D	-0.41%
TMO	F	-0.38%
HWM	A	-0.38%
ALLE	D	-0.38%
PCAR	B	-0.37%
NUE	C	-0.36%
ANF	C	-0.35%
TDC	D	-0.35%
ALRM	C	-0.34%
PPG	F	-0.34%
F	C	-0.33%
LDOS	C	-0.31%
SKYW	B	-0.31%
CAH	B	-0.31%
RTX	C	-0.28%
WFC	A	-0.28%
TRV	B	-0.26%
ADP	B	-0.26%
MSCI	C	-0.26%
AMGN	D	-0.25%
UBER	D	-0.24%
SYK	C	-0.24%
LRCX	F	-0.24%
CVS	D	-0.23%
RSG	A	-0.23%
MGM	D	-0.23%
LHX	C	-0.21%
GAP	C	-0.21%
BIIB	F	-0.21%
FTNT	C	-0.2%
MMM	D	-0.19%
TPH	D	-0.18%
CACI	D	-0.17%
PSA	D	-0.17%
LNW	D	-0.16%
BBWI	D	-0.16%
OXY	D	-0.15%
IDXX	F	-0.15%
VST	B	-0.14%
CLX	B	-0.14%
ITW	B	-0.14%
GL	B	-0.13%
GEN	B	-0.13%
KR	B	-0.12%
BK	A	-0.12%
AON	A	-0.12%
NSC	B	-0.11%
DASH	A	-0.11%
LPLA	A	-0.11%
UNM	A	-0.1%
ED	D	-0.1%
AME	A	-0.09%
TWLO	A	-0.09%
NRG	B	-0.09%
LYFT	C	-0.08%
PLTK	B	-0.07%
CRUS	D	-0.07%
TNL	A	-0.04%
TOL	B	-0.02%
CVX	A	-0.02%
PEGA	A	-0.02%