HWAY vs. FFSM ETF Comparison

Comparison of Themes US Infrastructure ETF (HWAY) to Fidelity Fundamental Small-Mid Cap ETF (FFSM)

HWAY

Themes US Infrastructure ETF

HWAY Description

The index is designed to provide exposure to U.S. companies that have business operations involving the building materials, equipment, logistics, construction, and engineering services used for the development and maintenance of infrastructure projects. It will invest, under normal circumstances, at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the securities that comprise the index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$28.75

Average Daily Volume

400

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FFSM

Fidelity Fundamental Small-Mid Cap ETF

FFSM Description

FFSM discloses holdings only on a monthly basis with a 30-day lag. The fund actively selects global mid- and small-cap companies with both growth and value factors. The portfolio is selected using fundamental and quantitative analysis, considering factors such as issuer's financial health and industry position, as well as the overall economic condition. The fund has a Tracking Basket Structure in place, which acts as a proxy portfolio that includes some of the funds holdings from recent disclosure, significant portion of the funds holdings, and cash. This is designed to track the funds daily performance, facilitate arbitrage opportunities and help mitigate the risk of front-running. However, investors should note that its non-transparent structure could result in wider spreads. Before February 26, 2024, the fund traded as Fidelity Small-Mid Cap Opportunities ETF under the ticker FSMO.

Grade (RS Rating)

Last Trade

$28.75

Average Daily Volume

28,347

Number of Holdings ^*

171

* may have additional holdings in another (foreign) market

Performance

Period	HWAY	FFSM
30 Days	4.93%	5.05%
60 Days	7.92%	4.89%
90 Days		5.78%
12 Months		33.64%

15 Overlapping Holdings

Symbol	Grade	Weight in HWAY	Weight in FFSM	Overlap
ACM	B	1.02%	0.66%	0.66%
AIT	B	0.75%	0.88%	0.75%
ATKR	D	0.25%	0.01%	0.01%
AZEK	A	0.46%	0.3%	0.3%
AZZ	A	0.16%	0.34%	0.16%
BLDR	D	1.46%	0.46%	0.46%
CMC	B	0.52%	0.6%	0.52%
CR	A	0.62%	1.01%	0.62%
EME	A	1.65%	1.81%	1.65%
EXP	B	0.67%	1.44%	0.67%
GVA	A	0.32%	0.35%	0.32%
SKY	A	0.41%	0.3%	0.3%
STLD	B	1.42%	0.01%	0.01%
TEX	F	0.26%	0.42%	0.26%
VNT	C	0.44%	0.59%	0.44%

HWAY Overweight 82 Positions Relative to FFSM

Symbol	Grade	Weight
EMR	B	4.96%
CSX	C	4.32%
NSC	B	4.21%
DE	B	4.18%
UNP	C	4.15%
CAT	B	4.1%
URI	C	3.91%
GWW	B	3.71%
PWR	A	3.43%
FAST	B	3.3%
VMC	B	2.62%
MLM	C	2.52%
NUE	C	2.47%
WAB	B	2.45%
XYL	D	2.11%
DOV	A	1.95%
CSL	C	1.44%
OC	A	1.21%
IEX	C	1.2%
J	D	1.2%
FIX	A	1.16%
RS	B	1.13%
GGG	B	1.08%
POOL	C	0.97%
TTEK	F	0.78%
AA	A	0.78%
MLI	B	0.77%
BLD	D	0.74%
FLR	B	0.68%
WCC	B	0.67%
DCI	B	0.65%
CRS	B	0.65%
X	B	0.64%
WMS	F	0.63%
UFPI	C	0.59%
OSK	C	0.54%
ATI	C	0.53%
R	B	0.53%
VMI	B	0.52%
TREX	C	0.52%
SSD	F	0.52%
APG	B	0.47%
AGCO	D	0.46%
WTS	B	0.45%
ZWS	B	0.43%
SUM	B	0.43%
HRI	C	0.41%
DY	D	0.41%
STRL	A	0.41%
CLF	F	0.4%
ACA	A	0.38%
KNF	B	0.38%
BCC	B	0.38%
SWX	B	0.34%
ROAD	B	0.29%
MDU	D	0.27%
MSM	C	0.27%
VRRM	F	0.26%
NPO	A	0.26%
TRN	B	0.23%
CVCO	A	0.22%
MYRG	B	0.17%
ROCK	C	0.16%
GBX	A	0.15%
ALG	B	0.14%
HEES	C	0.14%
AGX	B	0.13%
HLIO	B	0.12%
APOG	C	0.12%
WS	C	0.11%
DNOW	B	0.11%
LNN	B	0.1%
CENX	B	0.09%
BXC	B	0.09%
NVEE	F	0.09%
KALU	C	0.09%
MRC	B	0.08%
USLM	A	0.07%
TPC	C	0.07%
JBI	F	0.07%
GLDD	B	0.03%
NVRI	D	0.02%

HWAY Underweight 156 Positions Relative to FFSM

Symbol	Grade	Weight
UHS	D	-1.5%
FTI	A	-1.47%
TPX	B	-1.46%
ACGL	C	-1.45%
MUSA	B	-1.34%
NSIT	F	-1.33%
AR	B	-1.27%
BJ	A	-1.22%
FN	C	-1.22%
ITT	A	-1.2%
CROX	D	-1.17%
PFGC	B	-1.16%
USFD	A	-1.16%
VRT	B	-1.14%
SN	D	-1.11%
JLL	D	-1.1%
MOH	F	-1.1%
CACI	D	-1.06%
WHD	B	-1.01%
RRX	B	-1.01%
ORI	A	-0.96%
SNX	D	-0.95%
DOX	D	-0.92%
AIZ	A	-0.91%
BOOT	C	-0.9%
TMDX	F	-0.9%
LNG	A	-0.9%
DFS	B	-0.89%
SNV	C	-0.88%
DKS	D	-0.84%
STX	C	-0.84%
AYI	B	-0.81%
TGLS	B	-0.81%
FAF	A	-0.77%
ALSN	B	-0.76%
BC	C	-0.76%
VTR	B	-0.76%
RGA	A	-0.76%
NXST	C	-0.75%
SF	B	-0.75%
PNFP	B	-0.73%
PCG	A	-0.72%
HLI	A	-0.71%
GPK	C	-0.71%
AEIS	C	-0.66%
ASGN	F	-0.65%
AES	F	-0.65%
LPX	B	-0.65%
KBH	D	-0.64%
FCNCA	A	-0.63%
ON	D	-0.62%
BECN	B	-0.61%
MMS	F	-0.6%
FSS	B	-0.6%
LBRT	D	-0.59%
G	B	-0.59%
CBT	D	-0.59%
CADE	B	-0.59%
WBS	A	-0.57%
NOG	B	-0.57%
MEDP	D	-0.57%
MTSI	B	-0.57%
PRI	B	-0.56%
EPRT	B	-0.56%
HOLX	D	-0.56%
XPO	B	-0.56%
BCO	F	-0.56%
CHDN	B	-0.54%
ESI	B	-0.54%
CIEN	C	-0.53%
ASO	F	-0.53%
WTFC	A	-0.52%
CRL	D	-0.52%
CWK	C	-0.51%
RJF	A	-0.51%
PVH	C	-0.51%
HAYW	B	-0.51%
IESC	C	-0.51%
GMS	B	-0.51%
WIX	A	-0.5%
AFG	A	-0.49%
EBC	B	-0.49%
CTRE	C	-0.49%
EAT	A	-0.47%
CNM	D	-0.47%
KBR	F	-0.46%
BOKF	B	-0.46%
TENB	C	-0.45%
OLN	F	-0.45%
PRCT	B	-0.44%
LITE	B	-0.44%
NOMD	D	-0.42%
AXTA	B	-0.42%
ARGX	B	-0.41%
COMP	B	-0.4%
LW	C	-0.4%
MASI	B	-0.39%
IP	A	-0.37%
CXT	C	-0.36%
CAH	B	-0.36%
RUSHA	C	-0.35%
GTES	A	-0.33%
WFRD	D	-0.33%
PCVX	D	-0.32%
FLEX	B	-0.31%
UPBD	B	-0.3%
ARCB	C	-0.3%
MTB	A	-0.3%
LEA	F	-0.3%
GRBK	D	-0.3%
CNXC	F	-0.29%
IBTX	B	-0.29%
FBP	C	-0.29%
LCII	C	-0.29%
DIOD	D	-0.27%
AMN	F	-0.27%
ALGM	D	-0.24%
LAUR	A	-0.24%
DOOO	F	-0.23%
PATK	C	-0.2%
CRNX	C	-0.19%
ACLX	C	-0.19%
RGEN	D	-0.19%
KFRC	D	-0.18%
CYTK	F	-0.18%
MDGL	B	-0.16%
NUVL	C	-0.16%
AAP	D	-0.15%
XPRO	D	-0.14%
MNDY	C	-0.14%
KROS	D	-0.13%
ELVN	D	-0.12%
VCEL	B	-0.12%
VRDN	D	-0.12%
OMI	F	-0.12%
AXSM	B	-0.11%
ANAB	F	-0.11%
CSTM	F	-0.11%
TYRA	F	-0.11%
COGT	D	-0.11%
LBPH	A	-0.1%
ICLR	D	-0.1%
CLDX	F	-0.1%
XENE	D	-0.09%
AUTL	F	-0.08%
TCBK	C	-0.08%
MRUS	F	-0.07%
PBH	A	-0.06%
ARVN	F	-0.04%
FIBK	B	-0.01%
CC	C	-0.01%
LPLA	A	-0.01%
AME	A	-0.01%
ALXO	F	-0.0%
EWTX	C	-0.0%
ZNTL	F	-0.0%