FVAL vs. FQAL ETF Comparison

Comparison of Fidelity Value Factor ETF (FVAL) to Fidelity Quality Factor ETF (FQAL)

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

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

Performance

Period	FVAL	FQAL
30 Days	2.44%	1.99%
60 Days	2.80%	4.59%
90 Days	5.00%	4.90%
12 Months	24.77%	28.74%

44 Overlapping Holdings

Symbol	Grade	Weight in FVAL	Weight in FQAL	Overlap
AAPL	C	6.96%	6.81%	6.81%
ABBV	C	1.38%	1.39%	1.38%
ACN	C	1.2%	1.08%	1.08%
ADP	B	0.63%	0.62%	0.62%
BKNG	C	0.73%	0.98%	0.73%
BMY	C	0.9%	0.91%	0.9%
CAT	B	0.73%	0.7%	0.7%
CF	C	0.17%	0.16%	0.16%
COP	D	0.39%	0.39%	0.39%
CVX	D	0.62%	0.61%	0.61%
EOG	D	0.29%	0.29%	0.29%
FCX	D	0.25%	0.24%	0.24%
GILD	B	0.95%	0.98%	0.95%
GLPI	C	0.18%	0.16%	0.16%
GOOGL	D	3.57%	3.44%	3.44%
HD	B	1.2%	1.43%	1.2%
JNJ	C	1.49%	1.5%	1.49%
JXN	A	0.49%	0.63%	0.49%
KMB	D	0.46%	0.34%	0.34%
LIN	B	0.58%	0.57%	0.57%
LMT	C	0.63%	0.62%	0.62%
MCD	B	0.9%	1.15%	0.9%
META	B	2.54%	2.47%	2.47%
MMM	B	0.55%	0.53%	0.53%
MO	C	0.55%	0.43%	0.43%
MSFT	C	6.96%	6.74%	6.74%
NEE	C	0.54%	0.53%	0.53%
NFG	B	0.2%	0.2%	0.2%
NRG	C	0.24%	0.24%	0.24%
NUE	F	0.19%	0.18%	0.18%
NVDA	D	6.47%	6.31%	6.31%
O	C	0.26%	0.24%	0.24%
PG	C	1.17%	1.04%	1.04%
PLD	C	0.38%	0.36%	0.36%
PSA	B	0.29%	0.26%	0.26%
QCOM	D	1.1%	0.98%	0.98%
SPG	B	0.26%	0.23%	0.23%
T	C	0.63%	0.57%	0.57%
UGI	C	0.19%	0.19%	0.19%
UNP	C	0.68%	0.67%	0.67%
V	C	1.4%	1.54%	1.4%
VICI	C	0.23%	0.2%	0.2%
VZ	B	0.68%	0.62%	0.62%
XOM	C	1.12%	1.12%	1.12%

FVAL Overweight 80 Positions Relative to FQAL

Symbol	Grade	Weight
AMZN	C	3.76%
BRK.A	C	2.08%
UNH	C	1.78%
JPM	D	1.62%
MRK	D	1.28%
CRM	D	1.21%
IBM	B	1.2%
WMT	C	1.08%
BAC	D	0.99%
ELV	C	0.97%
CI	C	0.96%
ZM	C	0.86%
MU	F	0.84%
WFC	D	0.81%
CVS	D	0.81%
CTSH	C	0.8%
AXP	B	0.79%
CNC	D	0.75%
SWKS	D	0.72%
RPRX	C	0.7%
HPE	D	0.69%
C	C	0.66%
INTC	F	0.65%
TRV	C	0.65%
HON	D	0.64%
DE	B	0.62%
CMCSA	D	0.59%
RNR	C	0.57%
GM	C	0.57%
COF	B	0.57%
EBAY	B	0.56%
UPS	D	0.55%
EG	C	0.54%
PRU	C	0.54%
DFS	B	0.53%
KVUE	C	0.53%
F	F	0.52%
EXPE	C	0.52%
SYF	C	0.51%
TGT	C	0.5%
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%
G	C	0.45%
WYNN	D	0.45%
KR	C	0.43%
ADM	D	0.41%
RHI	D	0.4%
M	F	0.4%
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%
EXC	C	0.28%
PCG	C	0.28%
MPC	F	0.27%
NEM	B	0.27%
ATKR	F	0.26%
CBRE	A	0.22%
VLO	F	0.22%
ARE	C	0.2%
DOW	D	0.2%
WPC	C	0.19%
BXP	B	0.19%
DVN	F	0.19%
LYB	D	0.18%
HST	C	0.18%
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 80 Positions Relative to FQAL

Symbol	Grade	Weight
LLY	C	-2.24%
AVGO	C	-2.07%
MA	B	-1.45%
ADBE	F	-1.17%
COST	B	-1.06%
PGR	B	-1.02%
SPGI	B	-0.99%
LOW	B	-0.99%
VRTX	D	-0.92%
ZTS	C	-0.92%
VEEV	C	-0.9%
PANW	D	-0.89%
BX	B	-0.88%
AMAT	D	-0.87%
CME	C	-0.85%
NFLX	B	-0.84%
IDXX	C	-0.83%
FICO	B	-0.82%
ACGL	C	-0.8%
MCO	B	-0.8%
ORLY	C	-0.8%
GRMN	D	-0.79%
KO	C	-0.79%
KLAC	D	-0.79%
AZO	D	-0.78%
LRCX	F	-0.75%
YUM	D	-0.75%
AMP	A	-0.74%
MSCI	C	-0.73%
CPAY	B	-0.72%
MTD	D	-0.71%
ABNB	D	-0.69%
WSM	D	-0.68%
DPZ	F	-0.68%
KNSL	C	-0.67%
MEDP	F	-0.66%
CBSH	C	-0.63%
PM	C	-0.63%
EWBC	D	-0.62%
CFR	C	-0.61%
QLYS	F	-0.56%
CTAS	B	-0.54%
TDG	B	-0.54%
ITW	C	-0.51%
CSX	D	-0.49%
PAYX	C	-0.48%
GWW	B	-0.48%
FAST	C	-0.47%
AME	C	-0.47%
MDLZ	B	-0.46%
VRSK	D	-0.46%
CPRT	D	-0.44%
OTIS	C	-0.44%
CL	D	-0.43%
ODFL	D	-0.42%
SO	B	-0.38%
TTD	B	-0.38%
AMT	C	-0.34%
CEG	C	-0.32%
MNST	D	-0.31%
SHW	B	-0.31%
HSY	C	-0.3%
WMB	B	-0.28%
ECL	B	-0.26%
WEC	C	-0.26%
VST	C	-0.25%
LNG	C	-0.24%
EXR	B	-0.21%
AVB	B	-0.2%
EQR	B	-0.19%
TPL	B	-0.19%
MLM	D	-0.18%
SBAC	C	-0.18%
AM	C	-0.18%
AVY	C	-0.17%
ESS	B	-0.17%
WHD	C	-0.16%
EXP	B	-0.15%
RS	D	-0.15%
RGLD	C	-0.15%