FVAL vs. CVSE ETF Comparison

Comparison of Fidelity Value Factor ETF (FVAL) to Calvert US Select Equity ETF (CVSE)

FVAL

Fidelity Value Factor ETF

FVAL Description

The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity U.S. Value Factor Index. Normally investing at least 80% of assets in securities included in the Fidelity U.S. Value Factor Index, which is designed to reflect the performance of stocks of large and mid-capitalization U.S. companies that have attractive valuations.

Grade (RS Rating)

Last Trade

$63.29

Average Daily Volume

72,486

Number of Holdings ^*

124

* may have additional holdings in another (foreign) market

CVSE

Calvert US Select Equity ETF

CVSE Description

Under normal circumstances, at least 80% of the fund"s net assets (plus any borrowings for investment purposes) will be invested in the equity securities of U.S. issuers. The fund is actively managed, not designed to track a benchmark, and therefore not constrained by the composition of a benchmark. The fund primarily invests in the equity securities of large capitalization U.S. issuers that are involved in economic activities that address global environmental or societal challenges that relate to areas such as environmental sustainability and resource efficiency.

Grade (RS Rating)

Last Trade

$70.19

Average Daily Volume

648

Number of Holdings ^*

178

* may have additional holdings in another (foreign) market

Performance

Period	FVAL	CVSE
30 Days	2.17%	1.04%
60 Days	7.46%	5.05%
90 Days	9.10%	7.19%
12 Months	30.00%	32.17%

38 Overlapping Holdings

Symbol	Grade	Weight in FVAL	Weight in CVSE	Overlap
AAPL	C	6.63%	6.78%	6.63%
ACN	C	1.14%	1.81%	1.14%
ADP	A	0.64%	0.85%	0.64%
AXP	B	0.82%	0.87%	0.82%
BMY	B	0.93%	0.38%	0.38%
BXP	D	0.18%	0.1%	0.1%
CAT	C	0.77%	0.99%	0.77%
CBRE	A	0.24%	0.69%	0.24%
CMI	A	0.5%	1.08%	0.5%
COF	B	0.71%	0.47%	0.47%
CRM	B	1.42%	1.02%	1.02%
DE	D	0.58%	0.54%	0.54%
DFS	B	0.66%	0.55%	0.55%
EBAY	C	0.51%	0.36%	0.36%
G	B	0.49%	0.1%	0.1%
GILD	C	1.04%	0.36%	0.36%
GM	A	0.64%	1.0%	0.64%
HD	B	1.19%	1.31%	1.19%
HPE	B	0.83%	0.55%	0.55%
HST	C	0.17%	0.05%	0.05%
INTC	C	0.81%	0.27%	0.27%
JLL	C	0.17%	0.43%	0.17%
LIN	D	0.53%	0.65%	0.53%
MOS	D	0.14%	0.3%	0.14%
MRK	F	1.06%	1.78%	1.06%
MSFT	C	6.37%	7.64%	6.37%
MU	D	0.97%	0.4%	0.4%
NEE	D	0.46%	0.15%	0.15%
NUE	C	0.2%	0.67%	0.2%
NVDA	B	7.49%	8.09%	7.49%
PLD	D	0.32%	0.62%	0.32%
PRU	B	0.53%	0.74%	0.53%
QCOM	F	1.05%	0.31%	0.31%
RHI	B	0.44%	0.04%	0.04%
TGT	C	0.46%	0.56%	0.46%
TRV	B	0.66%	0.71%	0.66%
V	A	1.4%	1.43%	1.4%
VZ	C	0.58%	0.89%	0.58%

FVAL Overweight 86 Positions Relative to CVSE

Symbol	Grade	Weight
AMZN	A	3.92%
GOOGL	B	3.78%
META	B	2.66%
BRK.A	B	2.01%
JPM	B	1.75%
UNH	B	1.72%
ABBV	D	1.32%
JNJ	D	1.3%
XOM	B	1.14%
IBM	C	1.11%
BAC	A	1.08%
WMT	A	1.06%
PG	C	1.05%
WFC	A	1.0%
ZM	B	0.97%
MCD	C	0.85%
BKNG	A	0.85%
CI	D	0.79%
UAL	B	0.79%
CTSH	A	0.78%
CVS	F	0.73%
C	A	0.73%
ELV	F	0.69%
EXPE	B	0.65%
HON	B	0.64%
SYF	B	0.64%
CVX	B	0.64%
UNP	C	0.62%
CMCSA	B	0.61%
RPRX	F	0.61%
DAL	A	0.6%
T	A	0.6%
JXN	B	0.59%
SWKS	F	0.58%
LMT	C	0.58%
LVS	C	0.57%
CNC	F	0.56%
RNR	D	0.55%
UPS	C	0.54%
MO	A	0.53%
PCAR	B	0.53%
MMM	C	0.51%
F	C	0.5%
KVUE	B	0.5%
OZK	B	0.48%
EG	D	0.48%
FDX	B	0.46%
WYNN	F	0.45%
KR	A	0.43%
OC	A	0.4%
KMB	F	0.4%
M	D	0.39%
COP	C	0.39%
AGCO	F	0.37%
DUK	D	0.34%
ACI	C	0.34%
ADM	F	0.33%
EOG	A	0.31%
BG	D	0.3%
PCG	A	0.28%
PARA	C	0.28%
NRG	B	0.27%
ATKR	D	0.27%
FCX	F	0.26%
AEP	D	0.26%
SPG	B	0.26%
PSA	C	0.25%
EXC	C	0.24%
O	D	0.23%
MPC	D	0.23%
NEM	F	0.21%
VLO	D	0.21%
VICI	D	0.2%
NFG	C	0.19%
STLD	B	0.19%
DVN	F	0.18%
UGI	D	0.18%
ARE	F	0.17%
CF	B	0.17%
DOW	F	0.17%
WPC	F	0.16%
GLPI	D	0.16%
LYB	F	0.15%
MUR	F	0.14%
CIVI	F	0.13%
CLF	D	0.12%

FVAL Underweight 140 Positions Relative to CVSE

Symbol	Grade	Weight
LLY	F	-2.66%
SPGI	C	-1.96%
PH	A	-1.64%
MA	B	-1.53%
NFLX	A	-1.47%
ETN	A	-1.41%
VRSK	A	-1.18%
MET	C	-1.12%
DIS	B	-1.12%
NOW	A	-1.08%
PGR	A	-1.05%
ICE	D	-1.0%
GIS	F	-0.91%
TT	A	-0.82%
BSX	A	-0.81%
AMGN	F	-0.8%
CSCO	A	-0.75%
LOW	B	-0.74%
AMAT	F	-0.72%
TFC	B	-0.7%
URI	B	-0.69%
ECL	C	-0.68%
AWK	D	-0.67%
INTU	A	-0.67%
OMC	B	-0.65%
AMT	F	-0.64%
ADBE	C	-0.63%
ES	D	-0.63%
SHW	A	-0.6%
ITW	A	-0.59%
SCHW	A	-0.57%
AMD	F	-0.55%
CFG	B	-0.54%
TXN	C	-0.51%
ED	D	-0.5%
HUM	D	-0.46%
EMR	A	-0.46%
CDNS	B	-0.43%
SJM	F	-0.42%
RMD	C	-0.41%
NDAQ	A	-0.4%
STT	B	-0.4%
BALL	D	-0.38%
TJX	B	-0.36%
ADSK	A	-0.36%
DHR	F	-0.36%
LULU	C	-0.35%
STE	F	-0.35%
A	F	-0.34%
FITB	A	-0.34%
MKC	D	-0.34%
PYPL	A	-0.31%
IDXX	D	-0.31%
ULTA	C	-0.3%
DRI	B	-0.3%
ROK	B	-0.3%
MORN	B	-0.3%
HOLX	D	-0.29%
EW	D	-0.29%
HUBS	B	-0.29%
CLX	A	-0.29%
TSCO	C	-0.29%
PFE	F	-0.28%
HPQ	B	-0.28%
HAS	D	-0.27%
WDAY	B	-0.27%
HBAN	B	-0.27%
ALNY	D	-0.26%
IPG	F	-0.26%
NKE	F	-0.25%
BBY	D	-0.24%
PRI	A	-0.24%
PNR	A	-0.24%
DAR	B	-0.23%
SNPS	B	-0.23%
EXPD	D	-0.22%
MTN	D	-0.22%
EL	F	-0.22%
MSA	D	-0.22%
BFAM	F	-0.22%
WSM	F	-0.21%
VRTX	B	-0.21%
HIG	C	-0.21%
DECK	B	-0.2%
MSI	B	-0.2%
KLAC	F	-0.2%
KNX	B	-0.19%
WAT	A	-0.19%
SCI	B	-0.19%
TROW	B	-0.19%
DELL	B	-0.19%
FMC	F	-0.19%
EQR	C	-0.18%
RF	B	-0.18%
CTAS	A	-0.18%
FCN	F	-0.17%
TPR	B	-0.17%
LRCX	F	-0.16%
AKAM	F	-0.16%
DVA	C	-0.16%
EXR	D	-0.15%
PANW	A	-0.15%
CNM	D	-0.15%
FIS	B	-0.15%
VTR	C	-0.14%
XYL	D	-0.14%
MTG	C	-0.14%
TWLO	A	-0.11%
GAP	B	-0.11%
IQV	F	-0.1%
CHD	B	-0.1%
SWK	F	-0.1%
EA	A	-0.1%
EXAS	F	-0.1%
REGN	F	-0.1%
TTEK	C	-0.1%
PLNT	A	-0.09%
RL	B	-0.09%
GPC	D	-0.09%
SNOW	C	-0.09%
MSCI	B	-0.09%
MAN	F	-0.08%
CSGP	D	-0.08%
PCTY	A	-0.08%
RKT	F	-0.07%
PODD	B	-0.07%
VRSN	C	-0.07%
CIEN	B	-0.06%
ON	F	-0.06%
KEY	B	-0.06%
DKS	F	-0.06%
VLTO	C	-0.05%
BRX	A	-0.05%
HXL	D	-0.04%
FSLR	F	-0.04%
FICO	B	-0.04%
LITE	A	-0.04%
ETSY	C	-0.03%
MRNA	F	-0.03%
CPRT	A	-0.03%