FVAL vs. QLV ETF Comparison

Comparison of Fidelity Value Factor ETF (FVAL) to FlexShares US Quality Low Volatility Index Fund (QLV)

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

$60.28

Average Daily Volume

55,600

Number of Holdings ^*

124

* may have additional holdings in another (foreign) market

QLV

FlexShares US Quality Low Volatility Index Fund

QLV Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Northern Trust Developed Markets ex-US Quality Low Volatility IndexSM. The underlying index is designed to reflect the performance of a selection of companies that, in aggregate, possess lower overall absolute volatility characteristics relative to a broad universe of securities domiciled in developed market countries, excluding the U.S. The fund will invest at least 80% of its total assets in the securities of the underlying index and in ADRs and GDRs based on the securities in the underlying index. It is non-diversified.

Grade (RS Rating)

Last Trade

$66.02

Average Daily Volume

3,613

Number of Holdings ^*

114

* may have additional holdings in another (foreign) market

Performance

Period	FVAL	QLV
30 Days	0.48%	1.63%
60 Days	1.20%	4.53%
90 Days	3.50%	5.65%
12 Months	21.61%	25.53%

29 Overlapping Holdings

Symbol	Grade	Weight in FVAL	Weight in QLV	Overlap
AAPL	D	6.96%	5.11%	5.11%
ABBV	C	1.38%	1.15%	1.15%
ADP	B	0.63%	0.87%	0.63%
AEP	B	0.3%	0.59%	0.3%
AMZN	C	3.76%	2.13%	2.13%
BRK.A	C	2.08%	0.59%	0.59%
DUK	C	0.37%	0.95%	0.37%
GILD	B	0.95%	0.98%	0.95%
GOOGL	D	3.57%	0.76%	0.76%
IBM	B	1.2%	1.77%	1.2%
JNJ	B	1.49%	1.9%	1.49%
JPM	D	1.62%	0.2%	0.2%
LIN	B	0.58%	0.19%	0.19%
LMT	C	0.63%	1.17%	0.63%
MCD	C	0.9%	1.97%	0.9%
META	A	2.54%	1.14%	1.14%
MRK	D	1.28%	2.76%	1.28%
MSFT	C	6.96%	7.68%	6.96%
NFG	B	0.2%	0.37%	0.2%
NVDA	D	6.47%	4.13%	4.13%
PG	C	1.17%	3.43%	1.17%
PSA	B	0.29%	0.91%	0.29%
T	B	0.63%	1.45%	0.63%
TRV	B	0.65%	0.64%	0.64%
UNH	C	1.78%	0.07%	0.07%
V	B	1.4%	2.15%	1.4%
VZ	B	0.68%	1.7%	0.68%
XOM	D	1.12%	1.13%	1.12%
ZM	C	0.86%	0.58%	0.58%

FVAL Overweight 95 Positions Relative to QLV

Symbol	Grade	Weight
CRM	D	1.21%
ACN	C	1.2%
HD	B	1.2%
QCOM	D	1.1%
WMT	B	1.08%
BAC	D	0.99%
ELV	C	0.97%
CI	C	0.96%
BMY	C	0.9%
MU	F	0.84%
WFC	D	0.81%
CVS	D	0.81%
CTSH	C	0.8%
AXP	B	0.79%
CNC	C	0.75%
CAT	C	0.73%
BKNG	B	0.73%
SWKS	F	0.72%
RPRX	C	0.7%
HPE	D	0.69%
UNP	B	0.68%
C	D	0.66%
INTC	F	0.65%
HON	D	0.64%
CVX	D	0.62%
DE	B	0.62%
CMCSA	D	0.59%
RNR	B	0.57%
GM	B	0.57%
COF	C	0.57%
EBAY	B	0.56%
MMM	B	0.55%
UPS	D	0.55%
MO	C	0.55%
EG	B	0.54%
NEE	B	0.54%
PRU	C	0.54%
DFS	C	0.53%
KVUE	B	0.53%
F	D	0.52%
EXPE	C	0.52%
SYF	C	0.51%
TGT	C	0.5%
JXN	B	0.49%
FDX	C	0.49%
UAL	B	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	B	0.43%
ADM	D	0.41%
RHI	D	0.4%
M	F	0.4%
COP	D	0.39%
AGCO	D	0.39%
PLD	C	0.38%
OC	C	0.37%
ACI	F	0.36%
BG	D	0.36%
PARA	F	0.29%
EOG	D	0.29%
EXC	B	0.28%
PCG	C	0.28%
MPC	D	0.27%
NEM	B	0.27%
SPG	B	0.26%
ATKR	F	0.26%
O	B	0.26%
FCX	D	0.25%
NRG	C	0.24%
VICI	C	0.23%
CBRE	A	0.22%
VLO	D	0.22%
ARE	B	0.2%
DOW	D	0.2%
WPC	B	0.19%
BXP	B	0.19%
DVN	F	0.19%
UGI	C	0.19%
NUE	F	0.19%
LYB	F	0.18%
HST	D	0.18%
GLPI	B	0.18%
CF	B	0.17%
JLL	B	0.17%
MUR	D	0.15%
STLD	D	0.15%
CIVI	F	0.14%
MOS	F	0.14%
CLF	F	0.12%

FVAL Underweight 85 Positions Relative to QLV

Symbol	Grade	Weight
LLY	C	-2.85%
PEP	C	-1.69%
TMUS	C	-0.96%
ABT	C	-0.95%
CME	C	-0.92%
ED	C	-0.87%
TXN	C	-0.87%
GIS	B	-0.86%
WEC	B	-0.84%
WTW	B	-0.83%
AMGN	B	-0.82%
ATR	B	-0.8%
TYL	C	-0.8%
K	A	-0.79%
CHKP	C	-0.79%
CHE	C	-0.78%
RGLD	B	-0.77%
DOX	C	-0.77%
AIZ	B	-0.77%
CB	B	-0.76%
WDFC	B	-0.76%
QGEN	B	-0.75%
QLYS	F	-0.74%
LSTR	D	-0.74%
AVY	D	-0.72%
SO	B	-0.72%
REGN	C	-0.71%
STNG	D	-0.71%
WM	D	-0.66%
NOC	B	-0.65%
GD	B	-0.64%
SMMT	C	-0.62%
ALL	A	-0.61%
XEL	A	-0.59%
EQIX	B	-0.59%
WCN	D	-0.59%
AZO	D	-0.58%
RSG	D	-0.58%
CTVA	B	-0.57%
CINF	B	-0.56%
DLR	B	-0.56%
WRB	C	-0.55%
AEE	B	-0.55%
CMS	A	-0.55%
ADC	C	-0.54%
HSY	C	-0.54%
JKHY	B	-0.54%
SON	C	-0.54%
PKG	B	-0.54%
PNW	B	-0.53%
TTEK	C	-0.53%
GOOG	D	-0.53%
BAH	B	-0.51%
SIGI	C	-0.51%
HII	C	-0.51%
SCI	B	-0.51%
FLO	C	-0.51%
DTM	B	-0.5%
MKL	C	-0.5%
TSCO	C	-0.5%
CTRA	F	-0.49%
CALM	B	-0.48%
BMRN	F	-0.48%
CHRW	B	-0.46%
HRL	C	-0.44%
NBIX	F	-0.43%
VRSK	D	-0.39%
CRUS	D	-0.36%
AVGO	C	-0.34%
SLGN	B	-0.32%
MCK	F	-0.3%
DDS	D	-0.25%
BMI	B	-0.25%
SQSP	A	-0.24%
EA	D	-0.21%
PM	C	-0.21%
ALKS	C	-0.19%
CAG	B	-0.16%
ADI	D	-0.16%
ROP	C	-0.14%
L	B	-0.11%
NCNO	D	-0.1%
CWAN	A	-0.07%
MMC	C	-0.06%
EXPD	B	-0.03%