TCAF vs. FDLO ETF Comparison

Comparison of T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Capital Appreciation Equity ETF (TCAF) to Fidelity Low Volatility Factor ETF (FDLO)

TCAF

T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Capital Appreciation Equity ETF

TCAF Description

The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in equity securities. The fund may purchase the stocks of companies of any size, but typically focuses on large U.S. companies. The fund may at times invest significantly in certain sectors, including the information technology and healthcare sectors. It is non-diversified.

Grade (RS Rating)

Last Trade

$33.89

Average Daily Volume

565,915

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FDLO

Fidelity Low Volatility Factor ETF

FDLO Description

The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity U.S. Low Volatility Factor Index. Normally investing at least 80% of assets in securities included in the Fidelity U.S. Low Volatility Factor Index, which is designed to reflect the performance of stocks of large and mid-capitalization U.S. companies with lower volatility than the broader market.

Grade (RS Rating)

Last Trade

$61.98

Average Daily Volume

74,193

Number of Holdings ^*

125

* may have additional holdings in another (foreign) market

Performance

Period	TCAF	FDLO
30 Days	1.74%	0.81%
60 Days	2.92%	1.49%
90 Days	3.99%	4.05%
12 Months	28.41%	21.68%

31 Overlapping Holdings

Symbol	Grade	Weight in TCAF	Weight in FDLO	Overlap
AAPL	C	5.34%	7.26%	5.34%
ABBV	D	0.67%	0.98%	0.67%
ABT	B	1.24%	0.9%	0.9%
ACN	C	0.25%	1.6%	0.25%
AEE	A	1.91%	0.26%	0.26%
AJG	B	0.62%	0.61%	0.61%
AMT	D	0.7%	0.29%	0.29%
AMZN	C	4.51%	3.92%	3.92%
BDX	F	2.48%	0.6%	0.6%
CME	A	0.24%	0.69%	0.24%
CMS	C	0.82%	0.24%	0.24%
GOOGL	C	3.12%	4.12%	3.12%
LIN	D	1.24%	0.53%	0.53%
LLY	F	1.5%	1.57%	1.5%
MA	C	1.53%	1.34%	1.34%
MCD	D	0.78%	0.8%	0.78%
MLM	B	1.2%	0.19%	0.19%
MMC	B	0.98%	0.67%	0.67%
MSFT	F	8.23%	6.93%	6.93%
NKE	D	0.36%	0.56%	0.36%
NOC	D	1.18%	0.5%	0.5%
ROP	B	1.74%	1.21%	1.21%
RSG	A	0.44%	0.47%	0.44%
SBUX	A	0.38%	0.7%	0.38%
TMO	F	0.93%	0.78%	0.78%
TYL	C	0.06%	1.19%	0.06%
UNH	C	2.95%	1.55%	1.55%
V	A	1.44%	1.47%	1.44%
VMC	B	0.11%	0.2%	0.11%
WEC	A	0.12%	0.27%	0.12%
XEL	A	0.11%	0.3%	0.11%

TCAF Overweight 62 Positions Relative to FDLO

Symbol	Grade	Weight
NVDA	C	6.12%
FTV	C	2.71%
DHR	F	2.63%
RVTY	F	2.44%
META	D	2.3%
PTC	A	1.67%
WCN	A	1.64%
CRM	B	1.63%
INTU	C	1.55%
CNP	B	1.49%
VLTO	D	1.49%
RTX	C	1.47%
AVGO	D	1.39%
DTE	C	1.31%
IR	B	1.19%
NI	A	1.09%
ICE	C	1.06%
MCK	B	1.05%
YUM	B	1.04%
AMD	F	1.02%
ADSK	A	0.95%
HLT	A	0.92%
TDY	B	0.71%
SCI	B	0.68%
AVTR	F	0.67%
ELV	F	0.67%
HUM	C	0.55%
SBAC	D	0.55%
GEHC	F	0.54%
NXPI	D	0.53%
BIIB	F	0.53%
KKR	A	0.49%
KDP	D	0.46%
AUR	C	0.41%
EXC	C	0.34%
BKNG	A	0.34%
IEX	B	0.33%
LRCX	F	0.32%
ANSS	B	0.32%
CSX	B	0.28%
MAR	B	0.28%
ARGX	A	0.26%
DLTR	F	0.25%
WTW	B	0.21%
AME	A	0.2%
MS	A	0.2%
SPGI	C	0.2%
CMG	B	0.16%
SYK	C	0.15%
SLB	C	0.15%
MSCI	C	0.14%
DIS	B	0.14%
CDNS	B	0.12%
LNT	A	0.12%
KLAC	D	0.12%
TW	A	0.1%
INFA	D	0.1%
GS	A	0.1%
PNC	B	0.1%
BA	F	0.09%
TT	A	0.05%
APH	A	0.04%

TCAF Underweight 94 Positions Relative to FDLO

Symbol	Grade	Weight
BRK.A	B	-2.13%
ORCL	B	-2.01%
JPM	A	-1.89%
CSCO	B	-1.77%
IBM	C	-1.54%
MSI	B	-1.49%
TXN	C	-1.48%
HD	A	-1.19%
JNJ	D	-1.18%
XOM	B	-1.17%
VRSN	F	-1.08%
DOX	D	-1.08%
AKAM	D	-1.03%
PG	A	-0.99%
T	A	-0.99%
TMUS	B	-0.97%
CMCSA	B	-0.95%
WMT	A	-0.95%
VZ	C	-0.93%
MRK	F	-0.88%
PGR	A	-0.84%
EA	A	-0.72%
CB	C	-0.72%
ETN	A	-0.72%
LOW	D	-0.71%
AMGN	D	-0.71%
HON	B	-0.7%
VRTX	F	-0.69%
CVX	A	-0.69%
TRV	B	-0.69%
ADP	B	-0.66%
KO	D	-0.66%
TJX	A	-0.65%
UNP	C	-0.63%
PEP	F	-0.62%
PM	B	-0.62%
AIZ	A	-0.61%
FDS	B	-0.59%
LMT	D	-0.58%
ITW	B	-0.56%
WRB	A	-0.56%
WM	A	-0.55%
CBOE	B	-0.55%
FAST	B	-0.54%
ORLY	B	-0.53%
JKHY	D	-0.51%
PAYX	C	-0.51%
GRMN	B	-0.51%
REGN	F	-0.5%
GD	F	-0.49%
LHX	C	-0.49%
OTIS	C	-0.47%
AZO	C	-0.47%
TSCO	D	-0.46%
ERIE	D	-0.45%
BAH	F	-0.43%
COP	C	-0.41%
J	F	-0.39%
SO	D	-0.37%
MDLZ	F	-0.37%
CL	D	-0.35%
DUK	C	-0.35%
WMB	A	-0.34%
FCN	D	-0.34%
EOG	A	-0.32%
EQIX	A	-0.31%
SHW	A	-0.3%
KMB	D	-0.3%
KMI	A	-0.3%
HII	D	-0.29%
GIS	D	-0.28%
LNG	B	-0.28%
AEP	D	-0.28%
APD	A	-0.27%
DLR	B	-0.26%
PSA	D	-0.25%
ED	D	-0.25%
HSY	F	-0.24%
ECL	D	-0.24%
DTM	B	-0.23%
O	D	-0.22%
CCI	D	-0.21%
CTVA	C	-0.2%
PKG	A	-0.19%
CTRA	B	-0.19%
CSGP	D	-0.18%
MAA	B	-0.18%
EQR	B	-0.18%
ADC	B	-0.16%
AMH	D	-0.16%
ELS	C	-0.16%
ATR	B	-0.16%
AMCR	D	-0.15%
AVY	D	-0.14%