LSAF vs. FDMO ETF Comparison

Comparison of LeaderShares AlphaFactor US Core Equity ETF (LSAF) to Fidelity Momentum Factor ETF (FDMO)

LSAF

LeaderShares AlphaFactor US Core Equity ETF

LSAF Description

The investment seeks to provide investment results that correspond generally, before fees and expenses, to the performance of the AlphaFactor® US Core Equity Index. Under normal circumstances, at least 80% of the fund's net assets, including any borrowings for investment purposes, will be invested in a diversified portfolio of equity securities of U.S. common stocks included in the index. The index utilizes a quantitative rules-based investment methodology that applies a multi-factor ranking process and is focused on the largest 1,000 U.S. common stocks based on market capitalization.

Grade (RS Rating)

Last Trade

$43.59

Average Daily Volume

11,359

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FDMO

Fidelity Momentum Factor ETF

FDMO Description

The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity U.S. Momentum Factor Index. Normally investing at least 80% of assets in securities included in the Fidelity U.S. Momentum Factor Index, which is designed to reflect the performance of stocks of large and mid-capitalization U.S. companies that exhibit positive momentum signals.

Grade (RS Rating)

Last Trade

$71.32

Average Daily Volume

35,843

Number of Holdings ^*

122

* may have additional holdings in another (foreign) market

Performance

Period	LSAF	FDMO
30 Days	3.33%	4.34%
60 Days	6.17%	7.93%
90 Days	8.22%	9.81%
12 Months	32.92%	42.16%

19 Overlapping Holdings

Symbol	Grade	Weight in LSAF	Weight in FDMO	Overlap
AAPL	C	0.91%	6.8%	0.91%
AXP	A	1.0%	0.9%	0.9%
BKNG	A	1.12%	0.66%	0.66%
CAT	B	0.94%	0.73%	0.73%
EBAY	D	0.89%	0.42%	0.42%
FICO	B	1.14%	0.86%	0.86%
FIS	C	0.99%	0.65%	0.65%
GM	C	1.2%	0.5%	0.5%
GOOGL	C	1.04%	3.54%	1.04%
GS	A	1.13%	0.99%	0.99%
HCA	F	0.82%	0.78%	0.78%
HIG	B	0.95%	0.67%	0.67%
LPX	B	0.98%	0.15%	0.15%
MO	A	1.0%	0.37%	0.37%
SYF	B	1.23%	0.72%	0.72%
THC	D	0.94%	0.72%	0.72%
TMUS	B	1.09%	0.45%	0.45%
TRGP	A	1.25%	0.27%	0.27%
VST	A	1.12%	0.31%	0.31%

LSAF Overweight 80 Positions Relative to FDMO

Symbol	Grade	Weight
EXEL	B	1.3%
FTNT	C	1.2%
AAON	B	1.19%
EXPE	B	1.16%
NTNX	B	1.15%
UNM	A	1.14%
AMP	A	1.13%
FI	A	1.12%
LOPE	C	1.12%
CPAY	A	1.12%
OWL	A	1.11%
PLNT	A	1.1%
EQH	C	1.09%
STLD	B	1.08%
MAR	A	1.08%
PRI	B	1.07%
LNW	F	1.07%
UTHR	C	1.06%
JBL	C	1.05%
DUOL	A	1.05%
FOXA	A	1.04%
GEN	B	1.04%
RS	B	1.04%
IT	C	1.03%
PSN	D	1.03%
CMI	A	1.03%
KBR	F	1.03%
SAIC	F	1.03%
WSO	A	1.02%
HLT	A	1.02%
ORLY	B	1.01%
MUSA	B	1.01%
WRB	A	1.01%
GWRE	A	1.01%
EXP	B	1.01%
RL	C	1.01%
ORI	A	1.0%
BR	A	0.99%
AMG	B	0.98%
EEFT	B	0.98%
WWD	C	0.97%
H	B	0.97%
PVH	C	0.96%
REG	A	0.96%
AIG	B	0.96%
COLM	C	0.95%
CSL	C	0.95%
LOW	C	0.94%
MET	A	0.94%
SPB	C	0.94%
AZO	C	0.94%
GPK	C	0.93%
TXT	D	0.93%
SNX	D	0.93%
AFL	B	0.93%
PSX	C	0.92%
LMT	D	0.92%
MTG	C	0.92%
SPGI	C	0.92%
TOL	B	0.92%
CI	D	0.92%
DVA	C	0.91%
MPC	D	0.9%
COKE	C	0.89%
POST	C	0.89%
MAS	D	0.88%
HRB	D	0.88%
DD	C	0.87%
NVR	D	0.87%
BLDR	D	0.86%
AN	C	0.86%
PHM	D	0.84%
NSA	C	0.83%
MHK	D	0.83%
BLD	D	0.83%
LEN	D	0.83%
FBIN	D	0.8%
MTD	F	0.79%
WMS	F	0.78%
CROX	D	0.66%

LSAF Underweight 103 Positions Relative to FDMO

Symbol	Grade	Weight
NVDA	B	-6.97%
MSFT	D	-6.21%
AMZN	C	-3.76%
META	D	-2.39%
BRK.A	B	-2.14%
AVGO	D	-2.03%
TSLA	B	-2.03%
JPM	A	-1.88%
LLY	F	-1.68%
PLTR	B	-1.3%
APP	B	-1.27%
BAC	A	-1.21%
XOM	B	-1.12%
COIN	C	-1.09%
HD	B	-1.08%
ABBV	F	-1.08%
ISRG	A	-1.06%
BSX	A	-0.95%
DHR	F	-0.92%
PG	C	-0.92%
COST	A	-0.92%
MSI	B	-0.88%
NFLX	A	-0.88%
NTRA	A	-0.87%
PGR	A	-0.87%
WMT	A	-0.86%
HOOD	B	-0.83%
ANET	C	-0.82%
KKR	A	-0.8%
QTWO	A	-0.78%
GDDY	A	-0.78%
CVLT	B	-0.74%
GKOS	B	-0.74%
GE	D	-0.74%
RVMD	C	-0.73%
BK	A	-0.7%
RNA	C	-0.7%
UBER	F	-0.67%
CVX	A	-0.67%
EVR	B	-0.67%
RTX	D	-0.66%
TJX	A	-0.61%
KO	D	-0.61%
TT	A	-0.59%
JXN	C	-0.59%
MPWR	F	-0.56%
PM	B	-0.55%
CTAS	B	-0.54%
HWM	A	-0.52%
T	A	-0.52%
CARR	C	-0.51%
VRT	B	-0.51%
LIN	C	-0.51%
URI	C	-0.5%
TDG	D	-0.5%
RCL	A	-0.48%
FIX	A	-0.47%
NEE	C	-0.47%
EME	A	-0.47%
MLI	B	-0.44%
ZETA	D	-0.43%
DY	D	-0.42%
TRU	D	-0.4%
SN	D	-0.39%
LDOS	C	-0.38%
CVNA	B	-0.38%
DUK	C	-0.35%
CL	D	-0.33%
TTD	B	-0.32%
LUMN	C	-0.32%
WMB	A	-0.3%
OKE	A	-0.3%
SHW	B	-0.29%
CEG	C	-0.29%
KMI	A	-0.28%
PEG	A	-0.28%
KMB	C	-0.28%
WELL	A	-0.28%
AEP	C	-0.28%
SPG	A	-0.25%
FRPT	A	-0.24%
NRG	B	-0.24%
TPL	A	-0.24%
PSA	C	-0.24%
DLR	B	-0.24%
SFM	A	-0.24%
ECL	D	-0.23%
CBRE	B	-0.21%
NEM	D	-0.2%
DTM	A	-0.2%
EXR	C	-0.2%
IRM	C	-0.19%
EQR	C	-0.19%
FTI	A	-0.19%
ESS	B	-0.18%
SW	A	-0.17%
JLL	D	-0.16%
CRS	B	-0.16%
PKG	A	-0.16%
IFF	D	-0.15%
SLG	B	-0.15%
VNO	C	-0.15%
ATI	C	-0.14%