VCLT vs. FHEQ ETF Comparison

Comparison of Vanguard Long-Term Corporate Bond ETF (VCLT) to Fidelity Hedged Equity ETF (FHEQ)

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

$76.74

Average Daily Volume

2,396,634

Number of Holdings ^*

339

* may have additional holdings in another (foreign) market

FHEQ

Fidelity Hedged Equity ETF

FHEQ Description

FHEQ is actively managed, investing in equity securities with market caps similar to the S&P 500 and Russell 1000. The fund utilizes quantitative analysis and options for downside protection.

Grade (RS Rating)

Last Trade

$27.81

Average Daily Volume

24,615

Number of Holdings ^*

168

* may have additional holdings in another (foreign) market

Performance

Period	VCLT	FHEQ
30 Days	-1.09%	1.30%
60 Days	-5.46%	3.66%
90 Days	-3.85%	4.24%
12 Months	8.09%

90 Overlapping Holdings

Symbol	Grade	Weight in VCLT	Weight in FHEQ	Overlap
AAPL	C	0.04%	7.31%	0.04%
ABBV	F	0.03%	1.0%	0.03%
ALL	A	0.01%	0.07%	0.01%
AMAT	F	0.03%	0.7%	0.03%
AMGN	F	0.01%	0.24%	0.01%
AMT	C	0.03%	0.24%	0.03%
AMZN	C	0.05%	3.64%	0.05%
AVGO	D	0.04%	1.49%	0.04%
AXP	A	0.06%	0.43%	0.06%
BAC	A	0.02%	1.17%	0.02%
BDX	F	0.01%	0.59%	0.01%
BIIB	F	0.05%	0.21%	0.05%
BMY	B	0.03%	0.68%	0.03%
C	A	0.01%	0.54%	0.01%
CAH	B	0.01%	0.4%	0.01%
CAT	B	0.01%	0.48%	0.01%
CI	D	0.02%	0.63%	0.02%
CINF	A	0.02%	0.12%	0.02%
CL	D	0.02%	0.58%	0.02%
CMCSA	B	0.01%	0.83%	0.01%
CME	B	0.03%	0.37%	0.03%
COST	A	0.06%	0.45%	0.06%
CRM	B	0.05%	1.09%	0.05%
CSCO	B	0.07%	0.79%	0.07%
CSX	C	0.01%	0.43%	0.01%
CVS	D	0.01%	0.22%	0.01%
CVX	A	0.02%	0.02%	0.02%
DIS	B	0.01%	0.57%	0.01%
DOC	C	0.01%	0.08%	0.01%
DVN	F	0.03%	0.53%	0.03%
ECL	D	0.02%	0.62%	0.02%
EOG	A	0.01%	0.43%	0.01%
ETN	A	0.01%	0.15%	0.01%
GE	D	0.02%	0.45%	0.02%
GILD	C	0.02%	0.73%	0.02%
GOOGL	C	0.04%	2.02%	0.04%
HD	B	0.01%	1.32%	0.01%
JNJ	C	0.02%	0.61%	0.02%
JPM	A	0.01%	1.82%	0.01%
KLAC	F	0.02%	0.54%	0.02%
KR	B	0.01%	0.11%	0.01%
L	A	0.04%	0.07%	0.04%
LHX	C	0.02%	0.23%	0.02%
LLY	F	0.01%	0.76%	0.01%
LMT	D	0.01%	0.69%	0.01%
LRCX	F	0.02%	0.23%	0.02%
MA	B	0.02%	1.34%	0.02%
MDLZ	F	0.03%	0.07%	0.03%
MKL	A	0.01%	0.09%	0.01%
MMC	B	0.01%	0.52%	0.01%
MMM	D	0.01%	0.22%	0.01%
MRK	D	0.01%	0.69%	0.01%
MS	A	0.05%	0.16%	0.05%
MSFT	D	0.01%	5.64%	0.01%
MSI	B	0.02%	0.26%	0.02%
NEE	C	0.01%	0.73%	0.01%
NOC	D	0.02%	0.56%	0.02%
NSC	B	0.01%	0.26%	0.01%
NUE	C	0.01%	0.32%	0.01%
NVDA	B	0.03%	7.27%	0.03%
OGE	A	0.01%	0.01%	0.01%
ORCL	A	0.04%	0.04%	0.04%
PFE	F	0.02%	0.56%	0.02%
PG	C	0.01%	0.87%	0.01%
PGR	A	0.01%	0.63%	0.01%
PM	B	0.02%	0.92%	0.02%
PYPL	B	0.03%	0.54%	0.03%
QCOM	F	0.02%	0.84%	0.02%
RSG	A	0.01%	0.2%	0.01%
RTX	D	0.02%	0.44%	0.02%
SCCO	F	0.05%	0.04%	0.04%
SCHW	B	0.02%	0.56%	0.02%
SPG	A	0.01%	0.16%	0.01%
SPGI	C	0.03%	0.28%	0.03%
T	A	0.01%	0.67%	0.01%
TJX	A	0.04%	0.73%	0.04%
TMO	F	0.01%	0.26%	0.01%
TMUS	B	0.03%	0.29%	0.03%
TRV	B	0.01%	0.49%	0.01%
TT	A	0.01%	0.69%	0.01%
UNH	B	0.01%	0.57%	0.01%
UNM	A	0.01%	0.01%	0.01%
UNP	C	0.01%	0.73%	0.01%
V	A	0.02%	0.47%	0.02%
VZ	C	0.01%	0.18%	0.01%
WFC	A	0.01%	0.15%	0.01%
WM	B	0.03%	0.38%	0.03%
WMT	A	0.02%	0.8%	0.02%
XEL	A	0.01%	0.21%	0.01%
XOM	B	0.02%	1.54%	0.02%

VCLT Overweight 249 Positions Relative to FHEQ

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%
TAP	C	0.05%
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%
MAR	A	0.03%
ITW	B	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%
ABT	B	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%
SYK	B	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%
PEP	F	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%
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%
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%
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%
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%
AON	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%
WLK	D	0.01%
PPL	A	0.01%
GLW	B	0.01%
JCI	B	0.01%
EL	F	0.01%
HON	C	0.01%
JBLU	F	0.01%
FDX	B	0.01%
D	C	0.01%
EIX	B	0.01%
ED	C	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%
BA	F	0.01%
GS	A	0.01%

VCLT Underweight 78 Positions Relative to FHEQ

Symbol	Grade	Weight
META	D	-2.87%
BRK.A	B	-2.19%
GOOG	C	-1.74%
TSLA	B	-1.26%
NFLX	A	-1.26%
ADBE	C	-0.93%
CTAS	B	-0.66%
SQ	A	-0.59%
SEIC	B	-0.54%
ZM	C	-0.52%
CVNA	B	-0.52%
TXT	D	-0.51%
DBX	B	-0.51%
MSCI	C	-0.49%
CMG	B	-0.49%
MU	D	-0.47%
ZBRA	B	-0.47%
IGT	F	-0.45%
ALLE	C	-0.44%
EXEL	B	-0.43%
PCAR	B	-0.42%
ALRM	C	-0.4%
BK	A	-0.36%
TDC	D	-0.35%
PPG	F	-0.34%
NOW	A	-0.34%
ANF	F	-0.33%
LDOS	C	-0.32%
MEDP	D	-0.31%
GRMN	B	-0.31%
CACI	D	-0.3%
SKYW	C	-0.29%
HWM	A	-0.27%
INCY	C	-0.27%
IDXX	F	-0.26%
FTNT	C	-0.24%
BLK	B	-0.23%
TROW	B	-0.23%
AME	A	-0.22%
MGM	D	-0.22%
GL	C	-0.2%
CLX	A	-0.2%
PSA	C	-0.19%
GAP	C	-0.18%
DOCU	B	-0.18%
HLT	A	-0.18%
GEHC	D	-0.17%
LNW	F	-0.17%
FTI	A	-0.17%
ADP	A	-0.16%
WDAY	B	-0.16%
PEGA	B	-0.16%
F	C	-0.15%
TPH	D	-0.15%
UBER	F	-0.14%
GEN	B	-0.13%
DASH	B	-0.12%
VEEV	C	-0.12%
SOLV	D	-0.12%
NBIX	C	-0.11%
BBWI	C	-0.11%
QRVO	F	-0.11%
VST	A	-0.11%
ROST	D	-0.1%
PLTK	B	-0.1%
BAH	F	-0.09%
ANET	C	-0.08%
BCC	B	-0.07%
TENB	C	-0.06%
CRUS	D	-0.06%
LYFT	C	-0.06%
BLD	D	-0.05%
UTHR	C	-0.05%
QGEN	D	-0.04%
LPLA	A	-0.03%
MHO	D	-0.02%
TWLO	A	-0.02%
NWL	C	-0.01%