NXTI vs. FVAL ETF Comparison

Comparison of Simplify Next Intangible Core Index ETF (NXTI) to Fidelity Value Factor ETF (FVAL)

NXTI

Simplify Next Intangible Core Index ETF

NXTI Description

NXTI targets US companies with relatively high intangible capital-to-book assets ratios within their respective sectors. The fund defines intangible capital as productive assets that lack physical presence and are created through investments in brand, knowledge, and organization capital. The index construction starts by calculating a ratio of intangible capital-to-book assets for each security in an initial universe consisting of the largest 2000 US companies by market-cap. The 200 stocks with the highest intangible capital-to-book assets ratio are selected for inclusion. At least five stocks are included from each of the 13 sectors determined by the index provider using a combination of SIC and NAICS codes along with data from publicly available 10-K filings. Constituents are weighted by market capitalization, with individual security weights capped at 5%. The index reconstitutes quarterly.

Grade (RS Rating)

Last Trade

$30.42

Average Daily Volume

460

Number of Holdings ^*

197

* may have additional holdings in another (foreign) market

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

$63.26

Average Daily Volume

81,569

Number of Holdings ^*

124

* may have additional holdings in another (foreign) market

Performance

Period	NXTI	FVAL
30 Days	5.73%	3.33%
60 Days	7.47%	5.59%
90 Days	10.93%	6.82%
12 Months		28.35%

30 Overlapping Holdings

Symbol	Grade	Weight in NXTI	Weight in FVAL	Overlap
ACI	C	0.1%	0.34%	0.1%
AXP	A	0.77%	0.83%	0.77%
BKNG	A	0.88%	0.87%	0.87%
BRK.A	B	4.18%	2.07%	2.07%
CBRE	B	0.15%	0.23%	0.15%
CI	F	0.36%	0.81%	0.36%
CMI	A	0.3%	0.52%	0.3%
CNC	D	0.13%	0.54%	0.13%
CTSH	B	0.47%	0.76%	0.47%
CVS	D	0.29%	0.71%	0.29%
EBAY	D	0.33%	0.51%	0.33%
ELV	F	0.36%	0.67%	0.36%
EXPE	B	0.14%	0.66%	0.14%
FDX	B	0.44%	0.48%	0.44%
HD	A	1.6%	1.22%	1.22%
HON	B	0.91%	0.68%	0.68%
IBM	C	2.28%	1.09%	1.09%
KMB	D	0.31%	0.41%	0.31%
KR	B	0.37%	0.43%	0.37%
META	D	5.28%	2.55%	2.55%
MMM	D	0.47%	0.5%	0.47%
MPC	D	0.33%	0.24%	0.24%
NRG	B	0.17%	0.26%	0.17%
PRU	A	0.18%	0.56%	0.18%
TGT	F	0.67%	0.48%	0.48%
TRV	B	0.22%	0.68%	0.22%
UNH	C	2.16%	1.69%	1.69%
UPS	C	0.79%	0.55%	0.55%
WMT	A	5.09%	1.07%	1.07%
XOM	B	3.43%	1.14%	1.14%

NXTI Overweight 167 Positions Relative to FVAL

Symbol	Grade	Weight
MA	C	3.02%
ADBE	C	2.94%
CSCO	B	2.73%
NOW	A	2.29%
INTU	C	2.08%
PANW	C	1.5%
KO	D	1.23%
ALNY	D	1.07%
IDXX	F	1.04%
UBER	D	1.04%
DELL	C	1.03%
PEP	F	1.02%
PLTR	B	0.99%
SNPS	B	0.95%
SPOT	B	0.93%
MSI	B	0.91%
PM	B	0.9%
CDNS	B	0.87%
NKE	D	0.82%
WDAY	B	0.81%
FTNT	C	0.77%
BX	A	0.77%
AMAT	F	0.74%
ADSK	A	0.72%
GEV	B	0.66%
TEAM	A	0.61%
WMB	A	0.59%
LOW	D	0.59%
ABNB	C	0.58%
FICO	B	0.57%
PGR	A	0.56%
CL	D	0.55%
CTAS	B	0.55%
APP	B	0.54%
DDOG	A	0.54%
LRCX	F	0.53%
TT	A	0.52%
EA	A	0.5%
ORLY	B	0.49%
ITW	B	0.49%
ALGN	D	0.47%
INCY	C	0.46%
D	C	0.46%
HPQ	B	0.45%
NTRA	B	0.45%
SRPT	D	0.43%
MMC	B	0.43%
DASH	A	0.42%
NBIX	C	0.4%
INSM	C	0.39%
PH	A	0.39%
NET	B	0.38%
SHW	A	0.36%
ECL	D	0.35%
TRGP	B	0.34%
HUBS	A	0.34%
ZS	C	0.33%
ED	D	0.32%
PAYX	C	0.32%
PEN	B	0.32%
VST	B	0.32%
GDDY	A	0.31%
GWW	B	0.31%
HSIC	B	0.3%
CDW	F	0.3%
ITCI	C	0.29%
NTAP	C	0.29%
PINS	D	0.29%
EXEL	B	0.29%
IOT	A	0.28%
A	D	0.26%
STX	D	0.26%
BKR	B	0.25%
AJG	B	0.25%
IT	C	0.24%
AFL	B	0.24%
RDDT	B	0.24%
MDB	C	0.24%
SNAP	C	0.23%
VLTO	D	0.23%
VMC	B	0.23%
ZBRA	B	0.23%
NWS	B	0.22%
AMP	A	0.22%
MNST	C	0.22%
IONS	F	0.22%
NTNX	A	0.21%
MDGL	B	0.2%
CYTK	F	0.2%
BPMC	C	0.2%
AIG	B	0.2%
MANH	D	0.19%
CVNA	B	0.19%
DT	C	0.19%
INSP	D	0.19%
ALL	A	0.19%
PSTG	D	0.19%
SMMT	D	0.19%
TOST	B	0.19%
BBIO	F	0.18%
FAST	B	0.18%
EL	F	0.18%
DOCU	A	0.18%
DD	D	0.18%
MTD	D	0.18%
BBY	D	0.18%
FFIV	B	0.17%
KEYS	A	0.17%
CACI	D	0.16%
ULTA	F	0.16%
OTIS	C	0.16%
GWRE	A	0.16%
SYY	B	0.16%
JNPR	F	0.16%
GIS	D	0.16%
HUM	C	0.15%
RARE	D	0.15%
CORT	B	0.15%
ILMN	D	0.15%
HSY	F	0.15%
ROL	B	0.15%
BAH	F	0.15%
LYV	A	0.15%
DECK	A	0.14%
ALKS	B	0.14%
WAT	B	0.14%
DUOL	A	0.14%
WSM	B	0.14%
BURL	A	0.14%
NI	A	0.14%
AXSM	B	0.14%
XYL	D	0.14%
ACGL	D	0.14%
HIG	B	0.13%
CLX	B	0.13%
DOV	A	0.12%
AVY	D	0.12%
EXPD	D	0.12%
K	A	0.12%
FOLD	F	0.12%
TER	D	0.12%
APLS	D	0.12%
MTCH	D	0.12%
PPG	F	0.12%
BRO	B	0.12%
TW	A	0.11%
GTLB	B	0.11%
TGTX	B	0.11%
IOVA	F	0.11%
RL	B	0.11%
TSCO	D	0.11%
NYT	C	0.11%
LII	A	0.11%
PCOR	B	0.11%
DKNG	B	0.1%
APPF	B	0.1%
AMED	F	0.1%
TXT	D	0.1%
GPC	D	0.1%
DNLI	D	0.1%
APTV	D	0.1%
CHWY	B	0.09%
DYN	F	0.09%
RS	B	0.09%
WING	D	0.08%
DLB	B	0.04%
LNW	D	0.04%

NXTI Underweight 94 Positions Relative to FVAL

Symbol	Grade	Weight
NVDA	C	-7.33%
AAPL	C	-6.68%
MSFT	F	-6.37%
AMZN	C	-3.88%
GOOGL	C	-3.72%
JPM	A	-1.84%
CRM	B	-1.46%
V	A	-1.44%
JNJ	D	-1.31%
ACN	C	-1.15%
BAC	A	-1.13%
ABBV	D	-1.11%
WFC	A	-1.08%
PG	A	-1.08%
MRK	F	-1.01%
QCOM	F	-1.0%
BMY	B	-0.98%
ZM	B	-0.98%
GILD	C	-0.97%
MU	D	-0.85%
UAL	A	-0.84%
MCD	D	-0.84%
HPE	B	-0.81%
INTC	D	-0.77%
CAT	B	-0.77%
C	A	-0.74%
COF	B	-0.72%
DFS	B	-0.68%
SYF	B	-0.67%
GM	B	-0.67%
CVX	A	-0.67%
DAL	C	-0.64%
ADP	B	-0.64%
T	A	-0.62%
CMCSA	B	-0.61%
VZ	C	-0.61%
RPRX	D	-0.61%
UNP	C	-0.61%
DE	A	-0.59%
SWKS	F	-0.56%
JXN	C	-0.56%
LMT	D	-0.56%
LVS	C	-0.55%
MO	A	-0.55%
RNR	C	-0.54%
LIN	D	-0.53%
PCAR	B	-0.53%
KVUE	A	-0.52%
F	C	-0.51%
OZK	B	-0.51%
EG	C	-0.5%
WYNN	D	-0.5%
G	B	-0.49%
NEE	D	-0.46%
RHI	B	-0.44%
OC	A	-0.42%
COP	C	-0.4%
M	D	-0.39%
AGCO	D	-0.38%
ADM	D	-0.35%
DUK	C	-0.34%
PLD	D	-0.32%
BG	F	-0.32%
EOG	A	-0.31%
PCG	A	-0.29%
PARA	C	-0.28%
SPG	B	-0.27%
EXC	C	-0.26%
ATKR	C	-0.26%
AEP	D	-0.26%
PSA	D	-0.25%
FCX	D	-0.24%
O	D	-0.23%
VLO	C	-0.22%
NFG	A	-0.2%
VICI	C	-0.2%
NUE	C	-0.19%
NEM	D	-0.19%
BXP	D	-0.18%
DVN	F	-0.18%
CF	B	-0.18%
STLD	B	-0.18%
UGI	A	-0.18%
HST	C	-0.17%
JLL	D	-0.17%
WPC	D	-0.16%
ARE	D	-0.16%
GLPI	C	-0.16%
DOW	F	-0.16%
LYB	F	-0.15%
CIVI	D	-0.13%
MOS	F	-0.13%
MUR	D	-0.13%
CLF	F	-0.11%