FVAL vs. SPHD ETF Comparison

Comparison of Fidelity Value Factor ETF (FVAL) to PowerShares S&P 500 High Dividend Portfolio (SPHD)

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

SPHD

PowerShares S&P 500 High Dividend Portfolio

SPHD Description

The PowerShares S&P 500® High Dividend Portfolio (the “Fund”) seeks investment results that generally correspond (before fees and expenses) to the price and yield of the S&P 500 Low Volatility High Dividend Index (the “Underlying Index”). The Fund generally will invest at least 90% of its total assets in common stocks that comprise the Underlying Index. Standard & Poor’s® compiles, maintains and calculates the Underlying Index, which is composed of 50 securities traded on the S&P 500 Index that historically have provided high dividend yields and low volatility. The Fund and the Index are rebalanced and reconstituted semi-annually, in January and July

Grade (RS Rating)

Last Trade

$50.28

Average Daily Volume

907,265

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FVAL	SPHD
30 Days	4.67%	1.68%
60 Days	10.40%	8.57%
90 Days	4.82%	15.04%
12 Months	30.90%	37.42%

21 Overlapping Holdings

Symbol	Grade	Weight in FVAL	Weight in SPHD	Overlap
ABBV	C	1.35%	1.56%	1.35%
BMY	A	0.91%	2.57%	0.91%
CVX	B	0.62%	1.51%	0.62%
DOW	B	0.21%	2.18%	0.21%
DUK	C	0.36%	1.75%	0.36%
EXC	C	0.27%	1.89%	0.27%
GILD	A	0.94%	2.01%	0.94%
HST	D	0.18%	1.83%	0.18%
IBM	A	1.21%	1.84%	1.21%
JNJ	D	1.42%	1.36%	1.36%
KVUE	C	0.52%	2.25%	0.52%
LYB	B	0.18%	2.15%	0.18%
MO	D	0.52%	2.84%	0.52%
O	C	0.26%	2.34%	0.26%
PRU	B	0.55%	1.71%	0.55%
SPG	A	0.26%	2.28%	0.26%
T	B	0.62%	2.65%	0.62%
UPS	D	0.57%	1.98%	0.57%
VICI	C	0.22%	2.54%	0.22%
VZ	C	0.67%	2.9%	0.67%
XOM	A	1.14%	1.32%	1.14%

FVAL Overweight 103 Positions Relative to SPHD

Symbol	Grade	Weight
AAPL	C	6.97%
MSFT	D	6.76%
NVDA	B	6.45%
AMZN	C	3.71%
GOOGL	B	3.64%
META	A	2.69%
BRK.A	B	2.08%
UNH	B	1.71%
JPM	C	1.63%
V	B	1.31%
CRM	B	1.28%
MRK	F	1.23%
HD	A	1.23%
ACN	B	1.17%
PG	D	1.14%
QCOM	D	1.09%
WMT	A	1.04%
BAC	B	0.98%
MU	D	0.97%
CI	D	0.9%
ELV	F	0.9%
MCD	A	0.9%
ZM	B	0.87%
WFC	B	0.84%
CVS	D	0.84%
AXP	A	0.81%
CAT	A	0.8%
HPE	B	0.79%
CTSH	B	0.78%
BKNG	B	0.77%
INTC	D	0.77%
CNC	F	0.73%
C	B	0.69%
RPRX	D	0.69%
SWKS	F	0.68%
UNP	F	0.66%
HON	C	0.64%
DE	C	0.64%
TRV	B	0.63%
LMT	A	0.63%
CMCSA	B	0.61%
LVS	B	0.61%
COF	A	0.6%
ADP	A	0.6%
LIN	C	0.58%
RNR	A	0.58%
GM	D	0.56%
EXPE	B	0.56%
UAL	A	0.55%
MMM	C	0.55%
WYNN	B	0.55%
EBAY	A	0.55%
DFS	A	0.55%
EG	A	0.54%
DAL	C	0.53%
NEE	C	0.53%
JXN	A	0.52%
SYF	A	0.52%
F	D	0.51%
TGT	C	0.5%
PCAR	D	0.48%
CMI	A	0.48%
KMB	D	0.45%
FDX	F	0.45%
OZK	D	0.45%
G	A	0.44%
KR	C	0.43%
AGCO	D	0.41%
RHI	D	0.41%
M	D	0.4%
ADM	F	0.4%
COP	D	0.39%
OC	C	0.38%
BG	F	0.36%
PLD	D	0.36%
ACI	F	0.34%
FCX	B	0.3%
AEP	C	0.29%
PARA	F	0.29%
EOG	B	0.29%
PSA	C	0.28%
PCG	C	0.28%
NRG	A	0.27%
MPC	D	0.26%
NEM	C	0.26%
ATKR	F	0.25%
CBRE	C	0.23%
VLO	F	0.22%
NUE	D	0.2%
NFG	A	0.2%
BXP	B	0.19%
ARE	D	0.19%
UGI	C	0.19%
JLL	C	0.18%
CF	A	0.18%
WPC	C	0.18%
DVN	F	0.18%
STLD	C	0.17%
GLPI	C	0.17%
MOS	F	0.14%
MUR	F	0.14%
CLF	D	0.13%
CIVI	F	0.13%

FVAL Underweight 29 Positions Relative to SPHD

Symbol	Grade	Weight
CCI	D	-2.83%
D	A	-2.39%
KMI	A	-2.36%
PFE	D	-2.3%
AMCR	C	-2.29%
K	B	-2.23%
PM	D	-2.22%
CAG	D	-2.14%
KHC	F	-2.12%
EVRG	C	-2.11%
ES	D	-2.1%
OKE	A	-2.09%
ETR	A	-1.96%
PNW	C	-1.94%
EIX	C	-1.93%
WEC	B	-1.88%
IPG	D	-1.88%
FE	C	-1.86%
FRT	D	-1.84%
WMB	A	-1.84%
VTRS	D	-1.78%
GIS	C	-1.69%
DRI	C	-1.65%
SJM	D	-1.61%
MDT	C	-1.57%
EMN	C	-1.53%
CSCO	A	-1.49%
HRL	F	-1.47%
OMC	C	-1.41%