FVAL vs. ULVM ETF Comparison

Comparison of Fidelity Value Factor ETF (FVAL) to VictoryShares USAA MSCI USA Value Momentum ETF (ULVM)

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

ULVM

VictoryShares USAA MSCI USA Value Momentum ETF

ULVM Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the MSCI USA Select Value Momentum Blend Index. Under normal circumstances, the fund seeks to achieve its investment objective by investing at least 80% of its assets in securities in the index. The index is designed to deliver exposure to equity securities of large- and mid-capitalization U.S. issuers within the MSCI USA Index (the parent index) that have higher exposure to value and momentum factors, while also maintaining moderate index turnover and lower realized volatility than traditional capitalization-weighted indexes.

Grade (RS Rating)

Last Trade

$80.33

Average Daily Volume

662

Number of Holdings ^*

122

* may have additional holdings in another (foreign) market

Performance

Period	FVAL	ULVM
30 Days	2.44%	3.88%
60 Days	2.80%	4.91%
90 Days	5.00%	7.41%
12 Months	24.77%	29.63%

45 Overlapping Holdings

Symbol	Grade	Weight in FVAL	Weight in ULVM	Overlap
ADM	D	0.41%	0.5%	0.41%
ARE	C	0.2%	0.53%	0.2%
AXP	B	0.79%	0.91%	0.79%
BAC	D	0.99%	0.8%	0.8%
BRK.A	C	2.08%	1.75%	1.75%
C	C	0.66%	0.84%	0.66%
CBRE	A	0.22%	0.92%	0.22%
CI	C	0.96%	0.69%	0.69%
CNC	D	0.75%	0.82%	0.75%
COF	B	0.57%	0.78%	0.57%
CTSH	C	0.8%	1.17%	0.8%
CVS	D	0.81%	0.58%	0.58%
DAL	C	0.47%	0.55%	0.47%
DUK	C	0.37%	1.31%	0.37%
ELV	C	0.97%	1.08%	0.97%
EXC	C	0.28%	0.88%	0.28%
EXPE	C	0.52%	0.51%	0.51%
F	F	0.52%	0.49%	0.49%
FDX	C	0.49%	0.83%	0.49%
GM	C	0.57%	0.68%	0.57%
GOOGL	D	3.57%	0.57%	0.57%
HPE	D	0.69%	0.6%	0.6%
HST	C	0.18%	0.78%	0.18%
IBM	B	1.2%	1.03%	1.03%
INTC	F	0.65%	0.3%	0.3%
JPM	D	1.62%	1.19%	1.19%
KR	C	0.43%	0.91%	0.43%
LYB	D	0.18%	1.02%	0.18%
META	B	2.54%	0.55%	0.55%
MPC	F	0.27%	0.63%	0.27%
MU	F	0.84%	0.35%	0.35%
NUE	F	0.19%	0.6%	0.19%
NVDA	D	6.47%	0.41%	0.41%
OC	D	0.37%	0.56%	0.37%
PCAR	D	0.47%	0.81%	0.47%
SPG	B	0.26%	0.9%	0.26%
STLD	F	0.15%	0.59%	0.15%
SWKS	D	0.72%	0.65%	0.65%
SYF	C	0.51%	0.75%	0.51%
T	C	0.63%	1.03%	0.63%
UAL	C	0.48%	0.42%	0.42%
VICI	C	0.23%	1.09%	0.23%
VLO	F	0.22%	0.59%	0.22%
VZ	B	0.68%	0.85%	0.68%
WFC	D	0.81%	0.79%	0.79%

FVAL Overweight 79 Positions Relative to ULVM

Symbol	Grade	Weight
MSFT	C	6.96%
AAPL	C	6.96%
AMZN	C	3.76%
UNH	C	1.78%
JNJ	C	1.49%
V	C	1.4%
ABBV	C	1.38%
MRK	D	1.28%
CRM	D	1.21%
ACN	C	1.2%
HD	B	1.2%
PG	C	1.17%
XOM	C	1.12%
QCOM	D	1.1%
WMT	C	1.08%
GILD	B	0.95%
MCD	B	0.9%
BMY	C	0.9%
ZM	C	0.86%
CAT	B	0.73%
BKNG	C	0.73%
RPRX	C	0.7%
UNP	C	0.68%
TRV	C	0.65%
HON	D	0.64%
ADP	B	0.63%
LMT	C	0.63%
CVX	D	0.62%
DE	B	0.62%
CMCSA	D	0.59%
LIN	B	0.58%
RNR	C	0.57%
EBAY	B	0.56%
MMM	B	0.55%
UPS	D	0.55%
MO	C	0.55%
EG	C	0.54%
NEE	C	0.54%
PRU	C	0.54%
DFS	B	0.53%
KVUE	C	0.53%
TGT	C	0.5%
JXN	A	0.49%
LVS	D	0.48%
CMI	C	0.46%
OZK	D	0.46%
KMB	D	0.46%
G	C	0.45%
WYNN	D	0.45%
RHI	D	0.4%
M	F	0.4%
COP	D	0.39%
AGCO	D	0.39%
PLD	C	0.38%
ACI	F	0.36%
BG	D	0.36%
AEP	C	0.3%
PSA	B	0.29%
PARA	F	0.29%
EOG	D	0.29%
PCG	C	0.28%
NEM	B	0.27%
ATKR	F	0.26%
O	C	0.26%
FCX	D	0.25%
NRG	C	0.24%
DOW	D	0.2%
NFG	B	0.2%
WPC	C	0.19%
BXP	B	0.19%
DVN	F	0.19%
UGI	C	0.19%
GLPI	C	0.18%
CF	C	0.17%
JLL	B	0.17%
MUR	F	0.15%
CIVI	F	0.14%
MOS	F	0.14%
CLF	F	0.12%

FVAL Underweight 77 Positions Relative to ULVM

Symbol	Grade	Weight
L	C	-1.42%
REGN	C	-1.33%
HIG	B	-1.32%
BK	B	-1.27%
SSNC	B	-1.25%
ED	C	-1.2%
PKG	B	-1.11%
COST	B	-1.1%
IRM	C	-1.09%
ETR	B	-1.09%
AVB	B	-1.08%
BSX	B	-1.08%
GD	B	-1.07%
DGX	B	-1.06%
LDOS	B	-1.04%
FOXA	B	-1.02%
AIG	D	-1.01%
CAH	C	-1.0%
APH	D	-1.0%
MCK	F	-0.98%
KHC	C	-0.97%
TSN	C	-0.96%
ESS	B	-0.96%
GS	C	-0.95%
NVR	B	-0.94%
HCA	B	-0.92%
WAB	B	-0.91%
PH	B	-0.89%
FNF	B	-0.89%
CPRT	D	-0.88%
TDG	B	-0.87%
WY	C	-0.86%
NWSA	D	-0.86%
KIM	C	-0.85%
AKAM	D	-0.85%
TXT	D	-0.84%
GDDY	C	-0.84%
IR	C	-0.82%
CMG	C	-0.79%
GPN	D	-0.78%
DHI	B	-0.77%
MLM	D	-0.76%
VTRS	D	-0.75%
KKR	B	-0.75%
LLY	C	-0.75%
PFE	C	-0.74%
GE	B	-0.72%
DLR	B	-0.72%
UHAL	A	-0.72%
FANG	D	-0.72%
PHM	B	-0.72%
FCNCA	D	-0.72%
ETN	C	-0.71%
PSX	F	-0.71%
LEN	B	-0.71%
CSL	B	-0.71%
FITB	B	-0.68%
CFG	C	-0.66%
DPZ	F	-0.65%
RCL	B	-0.65%
CRBG	D	-0.62%
WLK	D	-0.62%
HPQ	D	-0.61%
KEY	B	-0.6%
UBER	C	-0.59%
CE	F	-0.58%
AVGO	C	-0.57%
URI	B	-0.55%
WDC	D	-0.46%
BLDR	C	-0.44%
VST	C	-0.39%
CRWD	D	-0.38%
JBL	D	-0.37%
VRT	C	-0.31%
DELL	D	-0.25%
MRNA	F	-0.18%
SMCI	F	-0.13%