FVAL vs. FAZ ETF Comparison

Comparison of Fidelity Value Factor ETF (FVAL) to Direxion Financial Bear 3X Shares (FAZ)

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

$60.22

Average Daily Volume

55,847

Number of Holdings ^*

124

* may have additional holdings in another (foreign) market

FAZ

Direxion Financial Bear 3X Shares

FAZ Description

The investment seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the performance of the Russell 1000Â® Financial Services Index. The fund, under normal circumstances, creates short positions by investing at least 80% of its assets in financial instruments that, in combination, provide leveraged and unleveraged exposure to the index. The index is a subset of the Russell 1000Â® Index that measures the performance of the securities classified in the financial services sector of the large cap U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$7.86

Average Daily Volume

5,838,384

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FVAL	FAZ
30 Days	2.44%	-10.78%
60 Days	2.80%	-16.74%
90 Days	5.00%	-25.44%
12 Months	24.77%	-54.01%

21 Overlapping Holdings

Symbol	Grade	Weight in FVAL	Weight in FAZ	Overlap
ARE	C	0.2%	0.3%	0.2%
AXP	B	0.79%	1.41%	0.79%
BAC	D	0.99%	4.53%	0.99%
BRK.A	C	2.08%	7.22%	2.08%
BXP	B	0.19%	0.34%	0.19%
C	C	0.66%	2.84%	0.66%
CBRE	A	0.22%	0.33%	0.22%
COF	B	0.57%	0.78%	0.57%
DFS	B	0.53%	0.42%	0.42%
HST	C	0.18%	0.2%	0.18%
JPM	D	1.62%	6.91%	1.62%
O	C	0.26%	0.4%	0.26%
PLD	C	0.38%	0.95%	0.38%
PRU	C	0.54%	0.63%	0.54%
PSA	B	0.29%	0.52%	0.29%
SPG	B	0.26%	0.73%	0.26%
SYF	C	0.51%	0.37%	0.37%
TRV	C	0.65%	0.58%	0.58%
V	C	1.4%	5.62%	1.4%
WFC	D	0.81%	3.0%	0.81%
WPC	C	0.19%	0.23%	0.19%

FVAL Overweight 103 Positions Relative to FAZ

Symbol	Grade	Weight
MSFT	C	6.96%
AAPL	C	6.96%
NVDA	D	6.47%
AMZN	C	3.76%
GOOGL	D	3.57%
META	B	2.54%
UNH	C	1.78%
JNJ	C	1.49%
ABBV	C	1.38%
MRK	D	1.28%
CRM	D	1.21%
ACN	C	1.2%
HD	B	1.2%
IBM	B	1.2%
PG	C	1.17%
XOM	C	1.12%
QCOM	D	1.1%
WMT	C	1.08%
ELV	C	0.97%
CI	C	0.96%
GILD	B	0.95%
MCD	B	0.9%
BMY	C	0.9%
ZM	C	0.86%
MU	F	0.84%
CVS	D	0.81%
CTSH	C	0.8%
CNC	D	0.75%
CAT	B	0.73%
BKNG	C	0.73%
SWKS	D	0.72%
RPRX	C	0.7%
HPE	D	0.69%
VZ	B	0.68%
UNP	C	0.68%
INTC	F	0.65%
HON	D	0.64%
ADP	B	0.63%
T	C	0.63%
LMT	C	0.63%
CVX	D	0.62%
DE	B	0.62%
CMCSA	D	0.59%
LIN	B	0.58%
RNR	C	0.57%
GM	C	0.57%
EBAY	B	0.56%
MMM	B	0.55%
UPS	D	0.55%
MO	C	0.55%
EG	C	0.54%
NEE	C	0.54%
KVUE	C	0.53%
F	F	0.52%
EXPE	C	0.52%
TGT	C	0.5%
JXN	A	0.49%
FDX	C	0.49%
UAL	C	0.48%
LVS	D	0.48%
DAL	C	0.47%
PCAR	D	0.47%
CMI	C	0.46%
OZK	D	0.46%
KMB	D	0.46%
G	C	0.45%
WYNN	D	0.45%
KR	C	0.43%
ADM	D	0.41%
RHI	D	0.4%
M	F	0.4%
COP	D	0.39%
AGCO	D	0.39%
DUK	C	0.37%
OC	D	0.37%
ACI	F	0.36%
BG	D	0.36%
AEP	C	0.3%
PARA	F	0.29%
EOG	D	0.29%
EXC	C	0.28%
PCG	C	0.28%
MPC	F	0.27%
NEM	B	0.27%
ATKR	F	0.26%
FCX	D	0.25%
NRG	C	0.24%
VICI	C	0.23%
VLO	F	0.22%
DOW	D	0.2%
NFG	B	0.2%
DVN	F	0.19%
UGI	C	0.19%
NUE	F	0.19%
LYB	D	0.18%
GLPI	C	0.18%
CF	C	0.17%
JLL	B	0.17%
MUR	F	0.15%
STLD	F	0.15%
CIVI	F	0.14%
MOS	F	0.14%
CLF	F	0.12%

FVAL Underweight 76 Positions Relative to FAZ

Symbol	Grade	Weight
MA	B	-4.6%
PYPL	B	-2.19%
AMT	C	-1.64%
FIS	B	-1.44%
USB	B	-1.27%
GS	C	-1.27%
TFC	C	-1.21%
CME	C	-1.18%
SPGI	B	-1.17%
CB	B	-1.11%
PNC	B	-1.08%
MS	D	-1.07%
BLK	B	-1.01%
CCI	C	-0.96%
GPN	D	-0.95%
MMC	C	-0.93%
SCHW	D	-0.89%
ICE	C	-0.85%
EQIX	C	-0.8%
AON	B	-0.79%
AIG	D	-0.74%
PGR	B	-0.71%
MCO	B	-0.68%
MET	B	-0.66%
AFL	C	-0.62%
BK	B	-0.61%
ALL	B	-0.61%
WELL	C	-0.56%
STT	A	-0.48%
AVB	B	-0.48%
TROW	D	-0.48%
EQR	B	-0.48%
SBAC	C	-0.45%
WTW	C	-0.42%
DLR	B	-0.41%
SQ	D	-0.38%
MSCI	C	-0.37%
WY	C	-0.37%
AMP	A	-0.35%
VTR	C	-0.35%
HIG	B	-0.35%
NTRS	A	-0.34%
MTB	B	-0.34%
ESS	B	-0.33%
FITB	B	-0.33%
KEY	B	-0.31%
EFX	B	-0.3%
ACGL	C	-0.28%
TRU	B	-0.28%
CFG	C	-0.28%
AJG	D	-0.28%
INVH	C	-0.26%
CINF	B	-0.26%
MKL	C	-0.26%
PFG	B	-0.25%
RF	B	-0.25%
BR	D	-0.24%
HBAN	B	-0.24%
MAA	B	-0.24%
SUI	B	-0.23%
L	C	-0.22%
UDR	C	-0.22%
MKTX	C	-0.22%
NLY	B	-0.22%
EXR	B	-0.22%
ELS	C	-0.2%
FNF	B	-0.2%
NDAQ	A	-0.2%
ALLY	F	-0.19%
FICO	B	-0.19%
WU	F	-0.19%
VNO	B	-0.19%
LNC	D	-0.19%
RJF	C	-0.19%
MPW	C	-0.18%
JKHY	B	-0.18%