FVAL vs. INCM ETF Comparison

Comparison of Fidelity Value Factor ETF (FVAL) to Franklin Income Focus ETF (INCM)

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

$63.26

Average Daily Volume

81,569

Number of Holdings ^*

124

* may have additional holdings in another (foreign) market

INCM

Franklin Income Focus ETF

INCM Description

Under normal market conditions, the fund invests in a diversified portfolio of debt and equity securities. The fund may invest up to 30% of its assets in equity index-linked notes, with respect to which interest payments are typically derived from the implied volatility of an equity index (e.g., the S&P 500 Index) and 10% of its assets in equity linked notes (ELNs).

Grade (RS Rating)

Last Trade

$26.99

Average Daily Volume

143,711

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FVAL	INCM
30 Days	3.33%	0.27%
60 Days	5.59%	0.52%
90 Days	6.82%	1.34%
12 Months	28.35%	13.81%

19 Overlapping Holdings

Symbol	Grade	Weight in FVAL	Weight in INCM	Overlap
ABBV	D	1.11%	0.74%	0.74%
BAC	A	1.13%	1.17%	1.13%
C	A	0.74%	0.01%	0.01%
CMCSA	B	0.61%	0.0%	0.0%
COP	C	0.4%	0.41%	0.4%
CVX	A	0.67%	1.71%	0.67%
DUK	C	0.34%	1.13%	0.34%
HD	A	1.22%	0.81%	0.81%
HON	B	0.68%	0.86%	0.68%
JNJ	D	1.31%	1.22%	1.22%
JPM	A	1.84%	1.54%	1.54%
LMT	D	0.56%	0.9%	0.56%
MRK	F	1.01%	0.01%	0.01%
MSFT	F	6.37%	0.15%	0.15%
NEE	D	0.46%	0.51%	0.46%
NEE	D	0.46%	0.47%	0.46%
PG	A	1.08%	1.04%	1.04%
VZ	C	0.61%	0.74%	0.61%
XOM	B	1.14%	1.51%	1.14%

FVAL Overweight 106 Positions Relative to INCM

Symbol	Grade	Weight
NVDA	C	7.33%
AAPL	C	6.68%
AMZN	C	3.88%
GOOGL	C	3.72%
META	D	2.55%
BRK.A	B	2.07%
UNH	C	1.69%
CRM	B	1.46%
V	A	1.44%
ACN	C	1.15%
IBM	C	1.09%
WFC	A	1.08%
WMT	A	1.07%
QCOM	F	1.0%
BMY	B	0.98%
ZM	B	0.98%
GILD	C	0.97%
BKNG	A	0.87%
MU	D	0.85%
UAL	A	0.84%
MCD	D	0.84%
AXP	A	0.83%
CI	F	0.81%
HPE	B	0.81%
INTC	D	0.77%
CAT	B	0.77%
CTSH	B	0.76%
COF	B	0.72%
CVS	D	0.71%
TRV	B	0.68%
DFS	B	0.68%
SYF	B	0.67%
ELV	F	0.67%
GM	B	0.67%
EXPE	B	0.66%
DAL	C	0.64%
ADP	B	0.64%
T	A	0.62%
RPRX	D	0.61%
UNP	C	0.61%
DE	A	0.59%
SWKS	F	0.56%
JXN	C	0.56%
PRU	A	0.56%
LVS	C	0.55%
UPS	C	0.55%
MO	A	0.55%
CNC	D	0.54%
RNR	C	0.54%
LIN	D	0.53%
PCAR	B	0.53%
KVUE	A	0.52%
CMI	A	0.52%
F	C	0.51%
OZK	B	0.51%
EBAY	D	0.51%
EG	C	0.5%
WYNN	D	0.5%
MMM	D	0.5%
G	B	0.49%
TGT	F	0.48%
FDX	B	0.48%
RHI	B	0.44%
KR	B	0.43%
OC	A	0.42%
KMB	D	0.41%
M	D	0.39%
AGCO	D	0.38%
ADM	D	0.35%
ACI	C	0.34%
PLD	D	0.32%
BG	F	0.32%
EOG	A	0.31%
PCG	A	0.29%
PARA	C	0.28%
SPG	B	0.27%
EXC	C	0.26%
ATKR	C	0.26%
NRG	B	0.26%
AEP	D	0.26%
PSA	D	0.25%
FCX	D	0.24%
MPC	D	0.24%
O	D	0.23%
CBRE	B	0.23%
VLO	C	0.22%
NFG	A	0.2%
VICI	C	0.2%
NUE	C	0.19%
NEM	D	0.19%
BXP	D	0.18%
DVN	F	0.18%
CF	B	0.18%
STLD	B	0.18%
UGI	A	0.18%
HST	C	0.17%
JLL	D	0.17%
WPC	D	0.16%
ARE	D	0.16%
GLPI	C	0.16%
DOW	F	0.16%
LYB	F	0.15%
CIVI	D	0.13%
MOS	F	0.13%
MUR	D	0.13%
CLF	F	0.11%

FVAL Underweight 23 Positions Relative to INCM

Symbol	Grade	Weight
ADI	D	-0.98%
PM	B	-0.92%
APD	A	-0.81%
USB	A	-0.81%
SO	D	-0.81%
JCI	C	-0.78%
BHP	F	-0.76%
PEP	F	-0.75%
KO	D	-0.75%
PFE	D	-0.69%
TTE	F	-0.66%
TFC	A	-0.66%
ALB	C	-0.63%
RTX	C	-0.59%
ITW	B	-0.56%
CSCO	B	-0.54%
SBUX	A	-0.49%
MCHP	D	-0.45%
MS	A	-0.4%
BA	F	-0.39%
SRE	A	-0.3%
XEL	A	-0.3%
EIX	B	-0.28%