TVAL vs. FDRR ETF Comparison

Comparison of T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Value ETF (TVAL) to Fidelity Dividend ETF for Rising Rates (FDRR)

TVAL

T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Value ETF

TVAL Description

The fund will invest primarily in U.S. equity securities. In taking a value approach to investment selection, the adviser seeks to identify companies that appear to be undervalued by various measures, and may be temporarily out of favor, but have good prospects for capital appreciation. Some of the principal measures used to identify such stocks are: price/earnings ratio, price/book value ratio, price/sales ratio, dividend yield, price/cash flow, undervalued assets, and restructuring opportunities. The fund may purchase the stocks of companies of any size, but typically focuses on larger companies.

Grade (RS Rating)

Last Trade

$33.11

Average Daily Volume

13,066

Number of Holdings ^*

144

* may have additional holdings in another (foreign) market

FDRR

Fidelity Dividend ETF for Rising Rates

FDRR Description

The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity Dividend Index for Rising Rates. Normally investing at least 80% of assets in securities included in the Fidelity Dividend Index for Rising Rates and in depository receipts representing securities included in the index. The Fidelity Dividend Index for Rising Rates is designed to reflect the performance of stocks of large and mid-capitalization dividend-paying companies that are expected to continue to pay and grow their dividends and have a positive correlation of returns to increasing 10-year U.S. Treasury yields.

Grade (RS Rating)

Last Trade

$53.29

Average Daily Volume

19,188

Number of Holdings ^*

101

* may have additional holdings in another (foreign) market

Performance

Period	TVAL	FDRR
30 Days	2.98%	1.87%
60 Days	4.22%	4.38%
90 Days	5.88%	5.21%
12 Months	29.14%	31.25%

43 Overlapping Holdings

Symbol	Grade	Weight in TVAL	Weight in FDRR	Overlap
ABBV	D	0.36%	1.22%	0.36%
BAC	A	1.89%	1.39%	1.39%
C	A	0.81%	0.95%	0.81%
CAT	B	0.3%	0.94%	0.3%
CMCSA	B	0.46%	0.74%	0.46%
CME	A	0.23%	0.79%	0.23%
COP	C	1.25%	0.43%	0.43%
CVS	D	0.23%	0.65%	0.23%
CVX	A	0.73%	0.71%	0.71%
D	C	0.55%	0.27%	0.27%
EOG	A	0.82%	0.36%	0.36%
GE	D	1.21%	0.96%	0.96%
GEV	B	0.7%	0.44%	0.44%
HD	A	0.63%	1.37%	0.63%
HON	B	0.68%	0.82%	0.68%
IP	B	0.64%	0.24%	0.24%
JNJ	D	1.82%	1.35%	1.35%
JPM	A	1.23%	2.11%	1.23%
KO	D	0.72%	0.81%	0.72%
LIN	D	0.73%	0.54%	0.54%
LLY	F	1.19%	1.82%	1.19%
MAR	B	0.47%	0.75%	0.47%
MCD	D	0.46%	0.91%	0.46%
MRK	F	0.8%	0.97%	0.8%
MS	A	0.56%	1.2%	0.56%
MSFT	F	0.65%	6.6%	0.65%
NEE	D	0.59%	0.48%	0.48%
NWSA	B	0.75%	0.55%	0.55%
PG	A	0.72%	1.13%	0.72%
PLD	D	0.34%	0.35%	0.34%
PM	B	1.41%	0.89%	0.89%
PSA	D	0.44%	0.3%	0.3%
SO	D	1.67%	0.36%	0.36%
TJX	A	0.29%	0.91%	0.29%
TXN	C	0.7%	1.5%	0.7%
UNH	C	1.9%	1.79%	1.79%
UNP	C	0.42%	0.7%	0.42%
UPS	C	0.28%	0.62%	0.28%
USB	A	0.56%	0.86%	0.56%
VZ	C	0.58%	0.78%	0.58%
WFC	A	1.77%	1.37%	1.37%
WY	D	0.88%	0.2%	0.2%
XOM	B	2.56%	1.09%	1.09%

TVAL Overweight 101 Positions Relative to FDRR

Symbol	Grade	Weight
CB	C	2.23%
HIG	B	1.96%
WMT	A	1.89%
ELV	F	1.81%
FI	A	1.53%
KVUE	A	1.49%
LHX	C	1.36%
AVB	B	1.22%
TMO	F	1.12%
SWK	D	1.1%
CMI	A	1.09%
QCOM	F	1.08%
BDX	F	1.01%
EQH	B	1.0%
GOOG	C	0.95%
SCHW	B	0.89%
TMUS	B	0.88%
META	D	0.87%
AIG	B	0.87%
CI	F	0.87%
ZBH	C	0.85%
CL	D	0.84%
MCK	B	0.8%
FITB	A	0.77%
VST	B	0.74%
NSC	B	0.74%
HUBB	B	0.7%
ACN	C	0.7%
TTE	F	0.7%
SRE	A	0.68%
MMC	B	0.67%
KMB	D	0.66%
AEE	A	0.65%
DHR	F	0.65%
RSG	A	0.62%
WDC	D	0.6%
BA	F	0.56%
AZO	C	0.52%
RPM	A	0.52%
ROK	B	0.52%
CF	B	0.52%
BAX	D	0.5%
CSX	B	0.49%
HWM	A	0.48%
REXR	F	0.48%
PGR	A	0.48%
AZN	D	0.47%
WMB	A	0.46%
EQT	B	0.46%
APO	B	0.46%
TDG	D	0.46%
HBAN	A	0.45%
ARES	A	0.45%
MU	D	0.45%
HCA	F	0.45%
BLK	C	0.43%
FANG	D	0.43%
MDLZ	F	0.43%
REGN	F	0.42%
CPAY	A	0.42%
LEN	D	0.42%
LVS	C	0.41%
LAMR	D	0.4%
KDP	D	0.4%
CAG	D	0.4%
TSM	B	0.39%
ALL	A	0.39%
AMAT	F	0.38%
YUM	B	0.36%
BKR	B	0.35%
KEYS	A	0.35%
ADI	D	0.35%
MSI	B	0.34%
EFX	F	0.33%
A	D	0.33%
COF	B	0.33%
STLD	B	0.32%
UAL	A	0.31%
TT	A	0.31%
AME	A	0.31%
OTIS	C	0.3%
VRTX	F	0.29%
ROP	B	0.29%
MOH	F	0.28%
CARR	D	0.27%
MCHP	D	0.27%
AXP	A	0.26%
SPGI	C	0.26%
CDW	F	0.25%
MGM	D	0.24%
ZTS	D	0.23%
HAL	C	0.22%
VMC	B	0.22%
AMD	F	0.22%
MET	A	0.22%
BHP	F	0.2%
DIS	B	0.2%
AVY	D	0.19%
SNY	F	0.19%
DTE	C	0.17%
EQIX	A	0.16%

TVAL Underweight 58 Positions Relative to FDRR

Symbol	Grade	Weight
NVDA	C	-8.35%
AAPL	C	-7.22%
AVGO	D	-2.56%
V	A	-1.56%
DELL	C	-1.47%
CSCO	B	-1.44%
IBM	C	-1.34%
GS	A	-1.23%
HPQ	B	-1.21%
BX	A	-1.09%
BMY	B	-1.01%
PNC	B	-0.97%
LOW	D	-0.95%
GM	B	-0.92%
RTX	C	-0.92%
PFE	D	-0.88%
T	A	-0.88%
TFC	A	-0.85%
SBUX	A	-0.79%
LMT	D	-0.79%
PEP	F	-0.74%
MO	A	-0.68%
DE	A	-0.68%
TKO	B	-0.68%
BBY	D	-0.67%
FOXA	B	-0.67%
PCAR	B	-0.62%
EA	A	-0.61%
F	C	-0.58%
NKE	D	-0.56%
OMC	C	-0.53%
NYT	C	-0.5%
TRGP	B	-0.49%
WMG	C	-0.42%
NXST	C	-0.42%
IPG	D	-0.4%
SPG	B	-0.34%
PARA	C	-0.34%
DUK	C	-0.33%
APD	A	-0.29%
AEP	D	-0.27%
CCI	D	-0.25%
FCX	D	-0.25%
OHI	C	-0.25%
NEM	D	-0.24%
EXC	C	-0.24%
VICI	C	-0.24%
EIX	B	-0.24%
DVN	F	-0.21%
GLPI	C	-0.21%
WPC	D	-0.18%
IFF	D	-0.17%
DOW	F	-0.16%
AMCR	D	-0.16%
WBA	F	-0.15%
LYB	F	-0.15%
CIVI	D	-0.15%
MOS	F	-0.12%