FVAL vs. LRGF ETF Comparison

Comparison of Fidelity Value Factor ETF (FVAL) to iShares FactorSelect MSCI USA ETF (LRGF)

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

$60.77

Average Daily Volume

60,509

Number of Holdings ^*

124

* may have additional holdings in another (foreign) market

LRGF

iShares FactorSelect MSCI USA ETF

LRGF Description

The investment seeks to track the investment results of the MSCI USA Diversified Multi-Factor Index (the "underlying index"), which has been developed by MSCI Inc. ("MSCI"). The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. The underlying index is designed to select equity securities from MSCI USA Index (the "Parent index") that have high exposure to four investment style factors: value, quality, momentum and low size, while maintaining a level of risk similar to that of the Parent index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$58.80

Average Daily Volume

102,577

Number of Holdings ^*

273

* may have additional holdings in another (foreign) market

Performance

Period	FVAL	LRGF
30 Days	4.67%	4.70%
60 Days	10.40%	11.59%
90 Days	4.82%	4.44%
12 Months	30.90%	39.09%

76 Overlapping Holdings

Symbol	Grade	Weight in FVAL	Weight in LRGF	Overlap
AAPL	C	6.97%	6.64%	6.64%
ABBV	C	1.35%	1.08%	1.08%
ACI	F	0.34%	0.06%	0.06%
ACN	B	1.17%	0.14%	0.14%
ADM	F	0.4%	0.08%	0.08%
ADP	A	0.6%	0.15%	0.15%
AGCO	D	0.41%	0.03%	0.03%
AMZN	C	3.71%	2.8%	2.8%
AXP	A	0.81%	0.23%	0.23%
BAC	B	0.98%	0.34%	0.34%
BKNG	B	0.77%	1.05%	0.77%
BMY	A	0.91%	0.66%	0.66%
BRK.A	B	2.08%	0.51%	0.51%
BXP	B	0.19%	0.04%	0.04%
C	B	0.69%	0.15%	0.15%
CAT	A	0.8%	0.28%	0.28%
CI	D	0.9%	0.24%	0.24%
CMCSA	B	0.61%	0.41%	0.41%
COF	A	0.6%	0.19%	0.19%
COP	D	0.39%	0.05%	0.05%
CRM	B	1.28%	0.1%	0.1%
CVS	D	0.84%	0.2%	0.2%
CVX	B	0.62%	0.51%	0.51%
DE	C	0.64%	0.03%	0.03%
DOW	B	0.21%	0.05%	0.05%
DUK	C	0.36%	0.23%	0.23%
EBAY	A	0.55%	0.33%	0.33%
EG	A	0.54%	0.06%	0.06%
ELV	F	0.9%	0.4%	0.4%
EOG	B	0.29%	0.01%	0.01%
EXC	C	0.27%	0.17%	0.17%
F	D	0.51%	0.18%	0.18%
FDX	F	0.45%	0.01%	0.01%
GILD	A	0.94%	0.47%	0.47%
GM	D	0.56%	0.44%	0.44%
HD	A	1.23%	0.59%	0.59%
HPE	B	0.79%	0.47%	0.47%
IBM	A	1.21%	0.18%	0.18%
JNJ	D	1.42%	0.97%	0.97%
JPM	C	1.63%	1.5%	1.5%
KR	C	0.43%	0.35%	0.35%
LIN	C	0.58%	1.01%	0.58%
LMT	A	0.63%	0.22%	0.22%
MCD	A	0.9%	0.67%	0.67%
META	A	2.69%	2.22%	2.22%
MMM	C	0.55%	0.14%	0.14%
MO	D	0.52%	0.1%	0.1%
MPC	D	0.26%	0.62%	0.26%
MRK	F	1.23%	0.69%	0.69%
MSFT	D	6.76%	5.95%	5.95%
MUR	F	0.14%	0.02%	0.02%
NEE	C	0.53%	0.2%	0.2%
NUE	D	0.2%	0.23%	0.2%
NVDA	B	6.45%	5.67%	5.67%
PCAR	D	0.48%	0.21%	0.21%
PG	D	1.14%	1.37%	1.14%
PLD	D	0.36%	0.08%	0.08%
PRU	B	0.55%	0.19%	0.19%
PSA	C	0.28%	0.26%	0.26%
QCOM	D	1.09%	0.49%	0.49%
RHI	D	0.41%	0.23%	0.23%
RPRX	D	0.69%	0.01%	0.01%
SPG	A	0.26%	0.38%	0.26%
STLD	C	0.17%	0.25%	0.17%
SYF	A	0.52%	0.21%	0.21%
T	B	0.62%	0.6%	0.6%
TGT	C	0.5%	0.32%	0.32%
TRV	B	0.63%	0.19%	0.19%
UAL	A	0.55%	0.02%	0.02%
UNH	B	1.71%	0.91%	0.91%
V	B	1.31%	1.2%	1.2%
VLO	F	0.22%	0.34%	0.22%
VZ	C	0.67%	0.39%	0.39%
WFC	B	0.84%	0.4%	0.4%
WMT	A	1.04%	1.02%	1.02%
XOM	A	1.14%	0.94%	0.94%

FVAL Overweight 48 Positions Relative to LRGF

Symbol	Grade	Weight
GOOGL	B	3.64%
MU	D	0.97%
ZM	B	0.87%
CTSH	B	0.78%
INTC	D	0.77%
CNC	F	0.73%
SWKS	F	0.68%
UNP	F	0.66%
HON	C	0.64%
LVS	B	0.61%
RNR	A	0.58%
UPS	D	0.57%
EXPE	B	0.56%
WYNN	B	0.55%
DFS	A	0.55%
DAL	C	0.53%
KVUE	C	0.52%
JXN	A	0.52%
CMI	A	0.48%
KMB	D	0.45%
OZK	D	0.45%
G	A	0.44%
M	D	0.4%
OC	C	0.38%
BG	F	0.36%
FCX	B	0.3%
AEP	C	0.29%
PARA	F	0.29%
PCG	C	0.28%
NRG	A	0.27%
O	C	0.26%
NEM	C	0.26%
ATKR	F	0.25%
CBRE	C	0.23%
VICI	C	0.22%
NFG	A	0.2%
ARE	D	0.19%
UGI	C	0.19%
LYB	B	0.18%
JLL	C	0.18%
HST	D	0.18%
CF	A	0.18%
WPC	C	0.18%
DVN	F	0.18%
GLPI	C	0.17%
MOS	F	0.14%
CLF	D	0.13%
CIVI	F	0.13%

FVAL Underweight 197 Positions Relative to LRGF

Symbol	Grade	Weight
AVGO	B	-1.94%
GOOG	B	-1.76%
LLY	D	-1.27%
PEP	F	-0.93%
MA	A	-0.74%
KO	C	-0.73%
TSLA	C	-0.66%
AWK	D	-0.6%
LOW	C	-0.6%
BK	A	-0.59%
BLDR	C	-0.59%
ED	C	-0.58%
COST	C	-0.54%
ABT	C	-0.54%
FICO	C	-0.53%
AMAT	C	-0.53%
GS	B	-0.52%
GEHC	C	-0.48%
AMGN	D	-0.48%
SPGI	C	-0.45%
MELI	D	-0.45%
WSM	C	-0.44%
APP	A	-0.44%
MCK	F	-0.42%
FTNT	A	-0.42%
TEAM	D	-0.41%
HOLX	D	-0.4%
PM	D	-0.4%
AFL	A	-0.4%
VST	A	-0.4%
CSCO	A	-0.39%
KLAC	B	-0.39%
DUOL	B	-0.39%
IBKR	A	-0.38%
NTNX	C	-0.38%
PAYX	B	-0.38%
WY	C	-0.38%
CTAS	C	-0.37%
ETN	B	-0.36%
IT	A	-0.36%
AMP	A	-0.36%
MANH	A	-0.36%
PFE	D	-0.36%
MSCI	B	-0.36%
HRB	C	-0.34%
WING	C	-0.34%
DELL	C	-0.33%
TMO	D	-0.33%
MTD	C	-0.33%
CNM	F	-0.33%
AYI	A	-0.32%
YUM	C	-0.32%
AIG	C	-0.31%
EQR	C	-0.31%
CRH	C	-0.31%
JBL	C	-0.31%
UBER	C	-0.31%
ANET	A	-0.31%
BRX	C	-0.31%
ABNB	D	-0.3%
DECK	B	-0.3%
OTIS	A	-0.3%
FERG	F	-0.3%
ADBE	F	-0.29%
MEDP	F	-0.29%
CR	A	-0.29%
BBY	C	-0.28%
EMR	B	-0.28%
TPR	B	-0.28%
ANF	D	-0.28%
INTU	F	-0.28%
RS	D	-0.27%
GIS	C	-0.27%
ALLY	F	-0.26%
DOCU	A	-0.26%
GTLB	D	-0.25%
DVA	C	-0.25%
PCOR	D	-0.25%
LRCX	D	-0.24%
AN	D	-0.24%
MLI	B	-0.24%
EME	B	-0.24%
AVB	C	-0.23%
FOXA	B	-0.23%
BLK	A	-0.23%
JHG	A	-0.23%
NDAQ	C	-0.22%
ITW	C	-0.22%
WFRD	F	-0.22%
SOLV	C	-0.21%
TT	A	-0.21%
WEC	B	-0.21%
MSI	A	-0.21%
ETSY	F	-0.21%
STT	A	-0.21%
VRTX	D	-0.2%
SBUX	B	-0.2%
AMG	B	-0.2%
MOH	F	-0.19%
HPQ	B	-0.19%
DKS	D	-0.19%
CRWD	D	-0.19%
SNPS	F	-0.18%
CDNS	D	-0.18%
QLYS	F	-0.18%
CVLT	B	-0.17%
SYK	C	-0.17%
NFLX	A	-0.17%
R	C	-0.16%
AMD	C	-0.16%
ESTC	F	-0.16%
PANW	B	-0.16%
HUM	F	-0.16%
IOT	C	-0.16%
DTE	B	-0.15%
ORCL	A	-0.15%
BBWI	F	-0.15%
GE	B	-0.15%
OMC	C	-0.15%
AZO	D	-0.15%
WTS	C	-0.15%
SMAR	A	-0.14%
CPNG	C	-0.13%
NVT	C	-0.13%
FNF	C	-0.13%
OLN	D	-0.13%
SO	A	-0.13%
VOYA	A	-0.13%
MDLZ	D	-0.12%
RMBS	F	-0.12%
HUBS	D	-0.12%
SPOT	C	-0.12%
KMI	A	-0.12%
HOG	D	-0.11%
OKTA	F	-0.11%
AMT	D	-0.11%
MUSA	D	-0.11%
MDT	C	-0.11%
COKE	C	-0.11%
TTEK	A	-0.11%
RL	B	-0.11%
ELF	F	-0.11%
GWW	B	-0.1%
APA	F	-0.1%
FI	A	-0.1%
GL	C	-0.1%
PH	A	-0.1%
LNTH	C	-0.1%
MCHP	F	-0.1%
RRC	D	-0.1%
MS	A	-0.09%
MRO	B	-0.09%
VLTO	A	-0.09%
ZS	F	-0.09%
AGNC	B	-0.08%
PVH	D	-0.08%
CARR	A	-0.08%
ACGL	A	-0.08%
XRAY	D	-0.07%
SRE	C	-0.07%
UNM	A	-0.07%
CMC	D	-0.07%
CHK	C	-0.07%
MRNA	F	-0.07%
LPX	C	-0.07%
SHW	C	-0.07%
CRUS	D	-0.06%
TAP	D	-0.06%
CEG	A	-0.06%
CHTR	D	-0.06%
RGA	B	-0.06%
TXN	C	-0.05%
SSD	B	-0.05%
HSY	D	-0.05%
FE	C	-0.05%
PFG	A	-0.05%
SFM	A	-0.04%
MET	A	-0.04%
AR	C	-0.04%
NOW	B	-0.04%
THO	C	-0.04%
LII	C	-0.03%
HIG	A	-0.03%
MGM	D	-0.03%
ZBH	F	-0.03%
MOD	B	-0.03%
PATH	D	-0.02%
NTAP	D	-0.02%
NWSA	D	-0.02%
CVNA	A	-0.02%
BSX	A	-0.02%
BDX	C	-0.02%
LYV	A	-0.02%
KHC	F	-0.02%
ULTA	D	-0.01%
PSX	D	-0.01%
EXPD	D	-0.01%