PSK vs. FPFD ETF Comparison

Comparison of SPDR Wells Fargo Preferred Stock ETF (PSK) to Fidelity Preferred Securities & Income ETF (FPFD)

PSK

SPDR Wells Fargo Preferred Stock ETF

PSK Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index. In seeking to track the performance of the Wells Fargo Hybrid and Preferred Securities Aggregate Index (the "index"), the fund employs a replication strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index is a modified market capitalization weighted index designed to measure the performance of non-convertible preferred stock and securities that are functionally equivalent to preferred stock. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$34.30

Average Daily Volume

134,835

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FPFD

Fidelity Preferred Securities & Income ETF

FPFD Description

The investment seeks high total return through a combination of current income and capital appreciation. The fund normally invests at least 80% of the fund's assets in preferred securities and other income-producing securities. It normally invests in all types of preferred securities and other income-producing securities such as contingent convertible securities and corporate hybrid securities. The fund primarily invests in securities rated at least BB by S&P, Ba by Moodys, comparably rated by at least one nationally recognized credit rating agency, or, if unrated, considered by FMR to be of comparable quality. It is non-diversified.

Grade (RS Rating)

Last Trade

$21.67

Average Daily Volume

9,528

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	PSK	FPFD
30 Days	2.54%	1.74%
60 Days	2.69%	2.50%
90 Days	3.10%	3.41%
12 Months	8.91%	12.78%

8 Overlapping Holdings

Symbol	Grade	Weight in PSK	Weight in FPFD	Overlap
ACGLO	B	0.41%	0.12%	0.12%
AIZN	B	0.29%	0.14%	0.14%
ELC	B	0.33%	0.06%	0.06%
PRS	A	0.78%	0.1%	0.1%
RZC	B	1.01%	0.28%	0.28%
SOJD	B	1.24%	0.3%	0.3%
TBB	B	1.71%	0.22%	0.22%
UNMA	A	0.43%	0.24%	0.24%

PSK Overweight 17 Positions Relative to FPFD

Symbol	Grade	Weight
TBC	B	1.11%
SREA	B	0.99%
CMSD	B	0.85%
DUKB	A	0.7%
FITBI	B	0.64%
SOJC	B	0.59%
ESGRP	B	0.56%
RZB	A	0.56%
PFH	B	0.54%
DTW	B	0.53%
EAI	B	0.5%
MGR	B	0.38%
GPJA	B	0.38%
CMSC	A	0.38%
NRUC	B	0.34%
TVC	A	0.32%
EMP	B	0.32%

PSK Underweight 5 Positions Relative to FPFD

Symbol	Grade	Weight
T	B	-1.12%
AFGE	C	-0.3%
AQNB	A	-0.2%
UZE	C	-0.19%
WTFCM	B	-0.13%

PSK: Top Represented Industries & Keywords

Industries: Other Insurance - Diversified Banks - Regional - US Electric Utilities Insurance

FPFD: Top Represented Industries & Keywords

Industries: Other Banks - Regional - US Insurance - Diversified Telecom Services