VCLT vs. FBUF ETF Comparison

Comparison of Vanguard Long-Term Corporate Bond ETF (VCLT) to Fidelity Dynamic Buffered Equity ETF (FBUF)
VCLT

Vanguard Long-Term Corporate Bond ETF

VCLT Description

The investment seeks to track the performance of a market-weighted corporate bond index with a long-term dollar-weighted average maturity. The fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 10+ Year Corporate Bond Index. This index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities greater than 10 years. All of the fund's investments will be selected through the sampling process, and at least 80% of the fund's assets will be invested in bonds included in the index.

Grade (RS Rating)

Last Trade

$76.76

Average Daily Volume

2,396,634

Number of Holdings *

339

* may have additional holdings in another (foreign) market
FBUF

Fidelity Dynamic Buffered Equity ETF

FBUF Description FBUF seeks capital appreciation by investing in a large-cap equity portfolio of US and foreign stocks while utilizing a defensive options collar strategy. The fund aims to outperform the S&P 500 by picking stocks using a computer-aided, quantitative analysis of historical valuation, growth, and profitability, among other factors. The proprietary process seeks to find the optimal portfolio holdings, overweight stocks with positive characteristics, and manage benchmark relative risks. For the options strategy, the fund typically buys out-of-the-money put options on the S&P 500 Index and simultaneously sells out-of-the-money S&P 500 Index call options. Premium earned from writing calls is intended to offset the cost of buying puts, but this essentially caps the upside returns of the equity portfolio. For a continuous downside hedge, the adviser selects put options through a laddered approach that rolls monthly. The adviser diversifies the written call positions, which are rolled weekly, with different strike prices and expiration dates.

Grade (RS Rating)

Last Trade

$27.42

Average Daily Volume

4,691

Number of Holdings *

155

* may have additional holdings in another (foreign) market
Performance
Period VCLT FBUF
30 Days -1.09% 1.93%
60 Days -5.46% 4.39%
90 Days -3.85% 5.67%
12 Months 8.09%
85 Overlapping Holdings
Symbol Grade Weight in VCLT Weight in FBUF Overlap
AAPL C 0.04% 7.34% 0.04%
ABBV F 0.03% 0.91% 0.03%
ABT B 0.03% 0.63% 0.03%
AMAT F 0.03% 0.67% 0.03%
AMGN F 0.01% 0.25% 0.01%
AMT C 0.03% 0.21% 0.03%
AMZN C 0.05% 3.84% 0.05%
AON A 0.01% 0.12% 0.01%
AVGO D 0.04% 1.62% 0.04%
AXP A 0.06% 0.43% 0.06%
BAC A 0.02% 1.18% 0.02%
BDX F 0.01% 0.58% 0.01%
BIIB F 0.05% 0.21% 0.05%
BMY B 0.03% 0.74% 0.03%
C A 0.01% 0.72% 0.01%
CAH B 0.01% 0.31% 0.01%
CAT B 0.01% 0.53% 0.01%
CI D 0.02% 0.63% 0.02%
CINF A 0.02% 0.07% 0.02%
CL D 0.02% 0.55% 0.02%
CMCSA B 0.01% 0.84% 0.01%
CME B 0.03% 0.44% 0.03%
COST A 0.06% 0.3% 0.06%
CRM B 0.05% 1.16% 0.05%
CSCO B 0.07% 0.8% 0.07%
CSX C 0.01% 0.49% 0.01%
CVS D 0.01% 0.23% 0.01%
CVX A 0.02% 0.02% 0.02%
DIS B 0.01% 0.65% 0.01%
DVN F 0.03% 0.52% 0.03%
ECL D 0.02% 0.63% 0.02%
ED C 0.01% 0.1% 0.01%
EOG A 0.01% 0.48% 0.01%
GE D 0.02% 0.48% 0.02%
GILD C 0.02% 0.74% 0.02%
GOOGL C 0.04% 2.04% 0.04%
HD B 0.01% 1.32% 0.01%
ITW B 0.03% 0.14% 0.03%
JNJ C 0.02% 0.73% 0.02%
JPM A 0.01% 1.93% 0.01%
KLAC F 0.02% 0.61% 0.02%
KR B 0.01% 0.12% 0.01%
LHX C 0.02% 0.21% 0.02%
LLY F 0.01% 0.76% 0.01%
LMT D 0.01% 0.71% 0.01%
LRCX F 0.02% 0.24% 0.02%
MA B 0.02% 1.36% 0.02%
MMC B 0.01% 0.53% 0.01%
MMM D 0.01% 0.19% 0.01%
MRK D 0.01% 0.96% 0.01%
MSFT D 0.01% 5.66% 0.01%
MSI B 0.02% 0.43% 0.02%
NEE C 0.01% 0.82% 0.01%
NOC D 0.02% 0.6% 0.02%
NSC B 0.01% 0.11% 0.01%
NUE C 0.01% 0.36% 0.01%
NVDA B 0.03% 7.37% 0.03%
ORCL A 0.04% 0.04% 0.04%
PEP F 0.02% 0.19% 0.02%
PFE F 0.02% 0.41% 0.02%
PG C 0.01% 0.8% 0.01%
PGR A 0.01% 0.67% 0.01%
PM B 0.02% 0.94% 0.02%
PYPL B 0.03% 0.72% 0.03%
QCOM F 0.02% 0.85% 0.02%
RSG A 0.01% 0.23% 0.01%
RTX D 0.02% 0.28% 0.02%
SCHW B 0.02% 0.79% 0.02%
SPG A 0.01% 0.44% 0.01%
SPGI C 0.03% 0.21% 0.03%
SYK B 0.02% 0.24% 0.02%
T A 0.01% 0.71% 0.01%
TJX A 0.04% 0.72% 0.04%
TMO F 0.01% 0.38% 0.01%
TMUS B 0.03% 0.28% 0.03%
TRV B 0.01% 0.26% 0.01%
TT A 0.01% 0.68% 0.01%
UNH B 0.01% 0.57% 0.01%
UNM A 0.01% 0.1% 0.01%
UNP C 0.01% 0.75% 0.01%
V A 0.02% 0.65% 0.02%
WFC A 0.01% 0.28% 0.01%
WM B 0.03% 0.41% 0.03%
WMT A 0.02% 0.82% 0.02%
XOM B 0.02% 1.56% 0.02%
VCLT Overweight 254 Positions Relative to FBUF
Symbol Grade Weight
WIT B 0.21%
DELL B 0.11%
EQH C 0.09%
MDT D 0.08%
FITB B 0.07%
WY F 0.07%
FOXA A 0.07%
DD C 0.07%
HPQ B 0.06%
HCA F 0.06%
CARR C 0.06%
CAG F 0.05%
SCCO F 0.05%
TAP C 0.05%
MS A 0.05%
L A 0.04%
WBA F 0.04%
LIN C 0.04%
NXPI D 0.04%
DT D 0.04%
BHF C 0.04%
GPN B 0.04%
JNPR D 0.04%
NEM D 0.04%
HPE B 0.04%
BHP F 0.04%
ORI A 0.03%
FTV C 0.03%
FANG C 0.03%
CFG B 0.03%
AAL B 0.03%
STE D 0.03%
WU F 0.03%
WEST C 0.03%
NOV C 0.03%
MLM C 0.03%
OHI C 0.03%
LH B 0.03%
LEA F 0.03%
DG F 0.03%
CPT B 0.03%
PKG A 0.03%
RPM A 0.03%
CF A 0.03%
RPRX D 0.03%
APD A 0.03%
EBAY D 0.03%
MDLZ F 0.03%
MAR A 0.03%
CB C 0.03%
VLO C 0.03%
RJF A 0.03%
MUFG B 0.03%
VTRS A 0.03%
PSX C 0.03%
MPLX A 0.03%
ALLY C 0.03%
INTC C 0.03%
CHTR C 0.03%
WPC C 0.02%
PWR A 0.02%
PECO A 0.02%
REGN F 0.02%
CHD A 0.02%
ZBH C 0.02%
STLD B 0.02%
FE C 0.02%
FMC D 0.02%
BAX F 0.02%
CMI A 0.02%
OGS A 0.02%
O C 0.02%
IVZ B 0.02%
HRL D 0.02%
HOG D 0.02%
SBRA C 0.02%
TEL B 0.02%
AFG A 0.02%
CPB D 0.02%
VMI B 0.02%
XYL D 0.02%
WTRG B 0.02%
WHR B 0.02%
AJG A 0.02%
AVY F 0.02%
KSS F 0.02%
MKC C 0.02%
NWE B 0.02%
K A 0.02%
PAA B 0.02%
GWW B 0.02%
EMN C 0.02%
ADI D 0.02%
ROK C 0.02%
PH A 0.02%
MOS F 0.02%
NDAQ A 0.02%
LNC C 0.02%
FIS C 0.02%
VRSK A 0.02%
EG C 0.02%
ES C 0.02%
STZ D 0.02%
OTIS C 0.02%
MCO B 0.02%
AFL B 0.02%
CCI C 0.02%
CP F 0.02%
NI A 0.02%
TXN C 0.02%
SWK D 0.02%
DHR F 0.02%
DE B 0.02%
TGT F 0.02%
HES B 0.02%
DOW F 0.02%
UPS C 0.02%
TSN B 0.02%
MPC D 0.02%
HAL C 0.02%
EPD A 0.02%
ICE C 0.02%
MET A 0.02%
IBM C 0.02%
COP C 0.02%
AZN F 0.02%
HSBC A 0.02%
VOD F 0.02%
GSK F 0.02%
HIW C 0.01%
FRT B 0.01%
AGO B 0.01%
AMH C 0.01%
EXR C 0.01%
BXP C 0.01%
BWA D 0.01%
AVA A 0.01%
APTV F 0.01%
DRI B 0.01%
ALB B 0.01%
INGR C 0.01%
IDA A 0.01%
EMR B 0.01%
MAA B 0.01%
LXP D 0.01%
OPI F 0.01%
JD D 0.01%
SIGI C 0.01%
EA A 0.01%
DOC C 0.01%
ADC A 0.01%
BEN C 0.01%
CACC D 0.01%
FNF B 0.01%
AES F 0.01%
PHM D 0.01%
PFG D 0.01%
PEG A 0.01%
VTR B 0.01%
OGE A 0.01%
ESS B 0.01%
MAS D 0.01%
RF A 0.01%
REG A 0.01%
EE A 0.01%
BKH A 0.01%
SWX B 0.01%
VOYA B 0.01%
SNA A 0.01%
DOV A 0.01%
KRC B 0.01%
EQIX A 0.01%
KIM A 0.01%
UDR B 0.01%
UAL A 0.01%
MKL A 0.01%
HSY F 0.01%
IPG D 0.01%
KOF F 0.01%
WELL A 0.01%
WRB A 0.01%
PNW A 0.01%
PLD F 0.01%
SJM D 0.01%
DTE C 0.01%
HIG B 0.01%
JEF A 0.01%
IFF D 0.01%
HAS D 0.01%
EVRG A 0.01%
ETN A 0.01%
AWK C 0.01%
AVB B 0.01%
WEC A 0.01%
EQR C 0.01%
ATO A 0.01%
AEP C 0.01%
AEE A 0.01%
ZTS D 0.01%
SRE A 0.01%
VMC B 0.01%
NNN C 0.01%
KDP F 0.01%
HUM C 0.01%
EXC C 0.01%
CNP A 0.01%
CMS C 0.01%
LNT A 0.01%
OC A 0.01%
ACGL C 0.01%
XEL A 0.01%
WLK D 0.01%
PPL A 0.01%
GLW B 0.01%
JCI B 0.01%
EL F 0.01%
ALL A 0.01%
HON C 0.01%
JBLU F 0.01%
FDX B 0.01%
D C 0.01%
EIX B 0.01%
KMB C 0.01%
ETR B 0.01%
ADM D 0.01%
ARE F 0.01%
PRU A 0.01%
SBUX A 0.01%
IP A 0.01%
GIS D 0.01%
KMI A 0.01%
GD D 0.01%
WMB A 0.01%
SHW B 0.01%
LYB F 0.01%
OKE A 0.01%
DUK C 0.01%
MRO B 0.01%
LOW C 0.01%
GM C 0.01%
BSX A 0.01%
AIG B 0.01%
ET A 0.01%
SO C 0.01%
SYY D 0.01%
NKE F 0.01%
MO A 0.01%
MCD D 0.01%
BABA D 0.01%
PCG A 0.01%
KO D 0.01%
VZ C 0.01%
BA F 0.01%
GS A 0.01%
VCLT Underweight 70 Positions Relative to FBUF
Symbol Grade Weight
META D -2.89%
BRK.A B -2.2%
GOOG C -1.89%
NFLX A -1.28%
TSLA B -1.27%
ADBE C -0.94%
CTAS B -0.65%
SQ A -0.6%
SEIC B -0.54%
ZM C -0.53%
DBX B -0.52%
ZBRA B -0.52%
CVNA B -0.52%
MU D -0.5%
NOW A -0.5%
TXT D -0.5%
CMG B -0.47%
IGT F -0.46%
GRMN B -0.44%
EXEL B -0.43%
HWM A -0.38%
ALLE C -0.38%
PCAR B -0.37%
ANF F -0.35%
TDC D -0.35%
ALRM C -0.34%
PPG F -0.34%
INCY C -0.34%
F C -0.33%
LDOS C -0.31%
SKYW C -0.31%
MEDP D -0.28%
TROW B -0.28%
ADP A -0.26%
MSCI C -0.26%
UBER F -0.24%
MGM D -0.23%
GAP C -0.21%
FTNT C -0.2%
TPH D -0.18%
SSNC B -0.18%
CACI D -0.17%
PSA C -0.17%
LNW F -0.16%
BBWI C -0.16%
OXY D -0.15%
IDXX F -0.15%
VST A -0.14%
CLX A -0.14%
GL C -0.13%
GEN B -0.13%
BK A -0.12%
INTU B -0.12%
DASH B -0.11%
LPLA A -0.11%
AME A -0.09%
TWLO A -0.09%
NRG B -0.09%
DOCU B -0.09%
LYFT C -0.08%
PLTK B -0.07%
CRUS D -0.07%
QRVO F -0.06%
NBIX C -0.06%
ANET C -0.06%
VEEV C -0.04%
TNL A -0.04%
UTHR C -0.04%
TOL B -0.02%
PEGA B -0.02%
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