TVAL vs. FELG ETF Comparison

Comparison of T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Value ETF (TVAL) to Fidelity Enhanced Large Cap Growth ETF (FELG)

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

FELG

Fidelity Enhanced Large Cap Growth ETF

FELG Description

The fund will invest at least 80% of assets in common stocks included in the Russell 1000® Growth Index, which is a market capitalization-weighted index designed to measure the performance of the large-cap growth segment of the U.S. equity market. The adviser will generally use computer-aided, quantitative analysis of historical valuation, growth, profitability, and other factors to select a broadly diversified group of stocks that may have the potential to provide a higher total return than that of the index. It will invest in domestic and foreign issuers. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$34.54

Average Daily Volume

218,971

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	TVAL	FELG
30 Days	2.98%	3.26%
60 Days	4.22%	5.11%
90 Days	5.88%	6.08%
12 Months	29.14%	36.88%

19 Overlapping Holdings

Symbol	Grade	Weight in TVAL	Weight in FELG	Overlap
ABBV	D	0.36%	0.94%	0.36%
AMAT	F	0.38%	0.94%	0.38%
AMD	F	0.22%	0.01%	0.01%
CAT	B	0.3%	0.32%	0.3%
GOOG	C	0.95%	2.52%	0.95%
HD	A	0.63%	0.62%	0.62%
HWM	A	0.48%	0.55%	0.48%
LLY	F	1.19%	1.54%	1.19%
META	D	0.87%	4.74%	0.87%
MRK	F	0.8%	1.35%	0.8%
MSFT	F	0.65%	10.23%	0.65%
MSI	B	0.34%	0.65%	0.34%
QCOM	F	1.08%	1.12%	1.08%
SCHW	B	0.89%	0.59%	0.59%
TJX	A	0.29%	0.77%	0.29%
TMUS	B	0.88%	0.5%	0.5%
TT	A	0.31%	0.63%	0.31%
UNP	C	0.42%	0.74%	0.42%
WMT	A	1.89%	0.13%	0.13%

TVAL Overweight 125 Positions Relative to FELG

Symbol	Grade	Weight
XOM	B	2.56%
CB	C	2.23%
HIG	B	1.96%
UNH	C	1.9%
BAC	A	1.89%
JNJ	D	1.82%
ELV	F	1.81%
WFC	A	1.77%
SO	D	1.67%
FI	A	1.53%
KVUE	A	1.49%
PM	B	1.41%
LHX	C	1.36%
COP	C	1.25%
JPM	A	1.23%
AVB	B	1.22%
GE	D	1.21%
TMO	F	1.12%
SWK	D	1.1%
CMI	A	1.09%
BDX	F	1.01%
EQH	B	1.0%
WY	D	0.88%
AIG	B	0.87%
CI	F	0.87%
ZBH	C	0.85%
CL	D	0.84%
EOG	A	0.82%
C	A	0.81%
MCK	B	0.8%
FITB	A	0.77%
NWSA	B	0.75%
VST	B	0.74%
NSC	B	0.74%
CVX	A	0.73%
LIN	D	0.73%
KO	D	0.72%
PG	A	0.72%
TXN	C	0.7%
HUBB	B	0.7%
ACN	C	0.7%
GEV	B	0.7%
TTE	F	0.7%
HON	B	0.68%
SRE	A	0.68%
MMC	B	0.67%
KMB	D	0.66%
AEE	A	0.65%
DHR	F	0.65%
IP	B	0.64%
RSG	A	0.62%
WDC	D	0.6%
NEE	D	0.59%
VZ	C	0.58%
USB	A	0.56%
BA	F	0.56%
MS	A	0.56%
D	C	0.55%
AZO	C	0.52%
RPM	A	0.52%
ROK	B	0.52%
CF	B	0.52%
BAX	D	0.5%
CSX	B	0.49%
REXR	F	0.48%
PGR	A	0.48%
AZN	D	0.47%
MAR	B	0.47%
WMB	A	0.46%
CMCSA	B	0.46%
EQT	B	0.46%
MCD	D	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%
PSA	D	0.44%
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%
YUM	B	0.36%
BKR	B	0.35%
KEYS	A	0.35%
ADI	D	0.35%
PLD	D	0.34%
EFX	F	0.33%
A	D	0.33%
COF	B	0.33%
STLD	B	0.32%
UAL	A	0.31%
AME	A	0.31%
OTIS	C	0.3%
VRTX	F	0.29%
ROP	B	0.29%
MOH	F	0.28%
UPS	C	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%
CVS	D	0.23%
CME	A	0.23%
HAL	C	0.22%
VMC	B	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 60 Positions Relative to FELG

Symbol	Grade	Weight
AAPL	C	-12.05%
NVDA	C	-11.91%
AMZN	C	-6.62%
GOOGL	C	-3.57%
TSLA	B	-3.47%
AVGO	D	-3.11%
MA	C	-2.02%
NFLX	A	-1.81%
ADBE	C	-1.29%
V	A	-1.2%
BKNG	A	-1.1%
UBER	D	-0.98%
COST	B	-0.91%
ANET	C	-0.83%
LRCX	F	-0.82%
KLAC	D	-0.79%
CMG	B	-0.77%
DASH	A	-0.72%
WDAY	B	-0.71%
ECL	D	-0.7%
SQ	B	-0.66%
CTAS	B	-0.66%
FTNT	C	-0.65%
LMT	D	-0.62%
CRM	B	-0.59%
EXEL	B	-0.57%
SPG	B	-0.56%
BMY	B	-0.54%
GRMN	B	-0.54%
ANF	C	-0.52%
LYFT	C	-0.51%
NOW	A	-0.51%
ZM	B	-0.51%
NTRA	B	-0.5%
INCY	C	-0.5%
GILD	C	-0.5%
NOC	D	-0.49%
ORCL	B	-0.46%
BBWI	D	-0.45%
DBX	B	-0.43%
MPWR	F	-0.4%
IDXX	F	-0.39%
ALLE	D	-0.33%
AXON	A	-0.32%
APP	B	-0.31%
TW	A	-0.31%
TDC	D	-0.3%
MSCI	C	-0.26%
NU	C	-0.19%
CLX	B	-0.18%
PEP	F	-0.15%
SCCO	F	-0.14%
MEDP	D	-0.12%
INTU	C	-0.11%
BAH	F	-0.11%
ISRG	A	-0.1%
ZBRA	B	-0.09%
CVNA	B	-0.07%
MORN	B	-0.07%
TPL	A	-0.03%