XESG vs. FCCV ETF Comparison

Comparison of Ishares ESG MSCI Cda Index ETF (XESG) to Fidelity Canadian Value Index ETF (FCCV)

XESG

Ishares ESG MSCI Cda Index ETF

XESG Description

Each iShares ESG Equity Fund seeks to provide long-term capital growth by replicating, to the extentpossible, the performance, net of expenses, of an environmental, social and governance (“ESG”)-oriented Index(defined below) selected at the discretion of BlackRock Canada. Each ESG-oriented Index will generally emphasizeissuers that have positive environmental, social and governance characteristics, as identified by the Index Provider(defined below), chosen from the securities included in its respective reference parent index (each, a “Parent Index”).The current ESG Equity Fund Index for each iShares ESG Equity Fund is identified in this prospectus under“Investment Objectives – iShares ESG Equity Funds”.

Grade (RS Rating)

Last Trade

$31.03

Average Daily Volume

4,232

Number of Holdings ^*

8

* may have additional holdings in another (foreign) market

FCCV

Fidelity Canadian Value Index ETF

FCCV Description

Fidelity Canadian Value Index ETF seeks to replicate, to the extentreasonably possible and before fees and expenses, the performance ofthe Fidelity Canada Canadian Value Index. This Fidelity ETF investsprimarily in equity securities of large and mid-capitalization Canadiancompanies that have attractive valuations.

Grade (RS Rating)

Last Trade

$15.36

Average Daily Volume

3,867

Number of Holdings ^*

8

* may have additional holdings in another (foreign) market

Performance

Period	XESG	FCCV
30 Days	3.92%	0.99%
60 Days	8.09%	4.50%
90 Days	11.44%	7.93%
12 Months	29.58%	23.39%

3 Overlapping Holdings

	Symbol	Grade	Weight in XESG	Weight in FCCV	Overlap
	BN	B	3.24%	3.47%	3.24%
	BNS	A	4.87%	3.13%	3.13%
	ENB	A	4.24%	4.43%	4.24%

XESG Overweight 5 Positions Relative to FCCV

	Symbol	Grade	Weight
	SHOP	B	3.94%
	CNR	F	3.37%
	NA	A	3.0%
	SLF	A	2.88%
	CM	A	2.59%

XESG Underweight 5 Positions Relative to FCCV

	Symbol	Grade	Weight
	CNQ	C	-3.7%
	AEM	C	-3.13%
	BMO	A	-3.05%
	TRP	A	-2.96%
	ABX	C	-2.96%

XESG: Top Represented Industries & Keywords

Industries: Banks - Global Asset Management Insurance - Diversified Oil & Gas Midstream Railroads Software - Application

Keywords: Financial Services Retail S&P/Tsx 60 Index Bank Banking Financial Integrated Investment Banking Marketing Mobile Commodity Economic History Of Italy ING Group Insurance Investment Solutions Transport Transportation Wealth Management Advisors Advisory Services

FCCV: Top Represented Industries & Keywords

Industries: Banks - Global Gold Oil & Gas Midstream Asset Management Oil & Gas E&P

Keywords: S&P/Tsx 60 Index Mining Bank Energy Liquids Marketing Natural Gas Pipe Pipeline Banking Banking Products Crude Oil Energy Industry Financial Services Gold ING Group Infrastructure Investment Banking Mines Natural Gas Liquids