FQAL vs TPFG: Grades, Fees and Holdings Compared

Fidelity Quality Factor ETF

FQALANYSE Arca

Timothy Plan Free Cash Flow Growth ETF

TPFGFNYSE Arca

Overlap

9.7%by weight

Expense ratio

FQAL −0.44pt a year

FQAL0.15%TPFG0.59%

Avg volume · 30D

FQAL 27.3×the volume

FQAL70.2KTPFG2.57K

FQAL vs TPFG Performance

Aug 7, 2026 – Nov 9, 2026

−1.8%FQAL−9.8%TPFG

Expense ratio: FQAL 0.15%, better; TPFG 0.59%
Fund size: FQAL $1.55B; TPFG $33M
1Y total return: FQAL +13.6%; TPFG No data
Yield (12M): FQAL 1.16%; TPFG No data
Holdings: FQAL 136; TPFG 51
Avg volume (30D): FQAL 70.2K sh, better; TPFG 2.57K sh
NAV per share: FQAL $83.16; TPFG $22.41
52W range

ETF.net Grade

Pillar letters and Scores for FQAL, TPFG, with each pillar’s weight
Pillar	FQAL	TPFG
Cost30% weight	A84Higher	F10
Mission25% weight	A89	Not scored
Risk15% weight	A71Higher	F2
Tradability15% weight	B56Higher	D32
Holdings10% weight	B57Higher	D37
Durability5% weight	A76Higher	F18

Rank among US Quality Index funds

How we build Categories ›

Same Category. FQAL and TPFG are both graded against the same 26 US Quality Index funds, so their Grades compare head to head.

US Quality Index⁠

Category · 26 funds

See all 26 ›

FQAL ranks 3rd and TPFG 26th of 26 funds in the US Quality Index Category.

Rank 1AJQUAJPMorgan U.S. Quality Factor ETFScore 81
Rank 2AQUALiShares MSCI USA Quality Factor ETFScore 77
Rank 3AFQALFidelity Quality Factor ETFScore 76
Rank 4ASPHQInvesco S&P 500 Quality ETFScore 74
Rank 25FOWNCorgi Inside Ownership 100 ETFScore 23
Rank 26FTPFGTimothy Plan Free Cash Flow Growth ETFScore 17

Our read on each fund

ETF.net Research

FQALAFidelity Quality Factor ETF

TPFGFTimothy Plan Free Cash Flow Growth ETF

In short

FQAL Fidelity's own quality screen, boxed into an ETF: roughly 130 U.S. companies picked for profitability, steady cash flow and clean balance sheets, at 0.15% a year, well under the typical fee in the quality-factor group.

TPFG Timothy Plan's take on the free-cash-flow factor: a rules-based US large-cap fund tracking an index that leans toward companies growing their cash generation, in a corner of the market dominated by plain-vanilla trackers.

Stated mandate

FQAL The fund prioritizes U.S. companies exhibiting higher profitability, stable cash flows, and strong balance sheets.

TPFG The Fund seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the Victory Free Cash Flow Growth BRI Index.

Why people hold it

FQAL Costs 0.15% a year, roughly half the typical fee among quality-factor ETFs. That puts it in the cheapest tier of the group, alongside JQUA, VFQY and QUAL.
The rulebook is Fidelity's own: the Fidelity U.S. Quality Factor Index, tracked tightly. One of the closer index implementations in its peer group.
Live since 2016 and now a multi-billion-dollar fund, so this is a settled product rather than a launch still finding its footing.
The screen is explicit about what it wants: higher profitability, stable cash flows, strong balance sheets. No vague 'quality' hand-waving.

TPFG One named benchmark, the Victory Free Cash Flow Growth BRI Index, does the picking. The holdings follow published rules, not a manager's discretion.
The tilt is stated up front: free cash flow growth, with growth and momentum factors advertised in the fund's own documents. No guessing what you own.
Straight US equity mandate, so no foreign currency exposure or overseas market hours layered on top of the strategy.

Worth knowing

FQAL Roughly 130 stocks, not the whole market. A narrower bench means individual names and sector tilts carry more weight than in a total-market fund.
Trading volume is light next to the category's biggest quality funds, which can show up as wider bid-ask spreads.
Distributions come quarterly, but the screen hunts profitability and balance-sheet strength, not yield.

TPFG It charges 0.59% a year. The large-cap index heavyweights it sits beside are far cheaper: SCHX and VV run 0.03%, VONE 0.06%.
A May 2026 launch, so there is little live history behind it, and trading has been thin since it opened, which can mean wider bid-ask spreads.
Cash-flow growth is the point, not payouts. The fund has not made a distribution since launch.

Full FQAL profile⁠

Full TPFG profile⁠

FQAL vs TPFG Holdings

How FQAL and TPFG differ

Overlap by weight

9.7%

Shared holdings make up 46.0% of TPFG and 9.7% of FQAL.

Level by level

Holdings15 in both9.7%
Sector11 Sectors68.9%
Countryby domicile96.3%
Asset classStocks100%

Sector

Sector weights in FQAL and TPFG, widest gap first
Sector	Gap	FQAL	TPFG
Industrials	TPFG +15.8 points	9.2%	25.0%
Financials	FQAL +12.8 points	12.8%	0.0%
Health Care	TPFG +7.6 points	10.7%	18.3%
Communication	FQAL +5.2 points	7.9%	2.7%
Consumer Staples	FQAL +4.7 points	4.7%	0.0%
Technology	TPFG +4.3 points	35.4%	39.7%
Materials	TPFG +3.5 points	2.1%	5.6%
Energy	FQAL +2.3 points	4.1%	1.8%
Real Estate	FQAL +2.1 points	2.1%	0.0%
Utilities	FQAL +2.1 points	2.1%	0.0%
Consumer Discretionary	FQAL +2.0 points	8.9%	6.9%

Country, concentration and asset class

Country by domicile

Country weights in FQAL and TPFG, widest gap first
Country	Gap	FQAL	TPFG
Ireland	TPFG +3.5 points	0.0%	3.5%
United States	FQAL +3.3 points	99.6%	96.3%
Other countries (2)	FQAL +0.2 points	0.4%	0.2%

Concentration

Weight in the 10 largest Holdings

FQAL37.8%
TPFG41.0%

Securities held

FQAL134
TPFG50

Asset class

FQAL: Stocks
TPFG: Stocks

Holdings

Only in FQAL119
In both15
Only in TPFG35

Only in FQAL

119 securities, 90.1% of FQAL by weight

Apple Inc8.00%
NVIDIA Corp7.10%
Microsoft Corp6.42%
Alphabet Inc Class A4.46%
Meta Platforms Inc Class A2.09%
Eli Lilly & Co1.96%
JPMorgan Chase & Co1.87%
Visa Inc Class A1.71%
Micron Technology Inc1.67%
Mastercard Inc Class A1.45%
Johnson & Johnson1.36%
Exxonmobil Holdings Corp1.18%
AbbVie Inc1.18%
Cisco Systems Inc1.08%
Qualcomm Inc0.97%
Merck & Co Inc New0.94%
Procter & Gamble Co0.88%
Home Depot Inc0.88%
UnitedHealth Group Inc0.88%
Cme Group Inc Class A0.87%
Coca Cola Co0.85%
Progressive Corp Ohio0.84%
Applied Materials Inc0.82%
Lam Research Corp0.82%
Thermo Fisher Scientific Inc0.82%
Ge Aerospace0.80%
Adobe Inc0.78%
Amgen Inc0.78%
Chevron Corp0.78%
Verisign Inc0.77%
Gilead Sciences Inc0.77%
Moodys Corp0.76%
Msci Inc0.76%
Philip Morris Intl Inc0.75%
Travelers Companies Inc0.75%
Mcdonalds Corp0.68%
Kinsale Capital Group Inc0.64%
Mckesson Corp0.63%
East West Bancorp Inc0.62%
Ameriprise Financial Inc0.61%
Airbnb Inc Class A0.61%
Union Pacific Corp0.60%
Cullen Frost Bankers Inc0.59%
Marriott International Inc A0.59%
Lowes Cos Inc0.59%
Zions Bancorp0.58%
Hilton Worldwide Holdings Inc0.58%
Automatic Data Processing Inc0.57%
Axos Financial Inc0.56%
Popular Inc0.56%

Only in TPFG

35 securities, 54.0% of TPFG by weight

Intuitive Surgical Inc.5.12%
Incyte Pharmaceuticals4.13%
Amphenol Corp. - Class A3.08%
Arista Networks Inc2.85%
Palo Alto Networks Inc2.77%
Rollins Inc2.71%
Kla Corp2.48%
Western Digital Corp.2.36%
Dexcom Inc2.07%
Servicenow Inc2.04%
Keysight Technologies Inc1.92%
Sandisk Corpde1.82%
Coeur Mining Inc1.76%
Alnylam Pharmaceuticals1.75%
Veeva Systems Inc1.73%
Viper Energy Inc1.64%
Crowdstrike Holdings Inc-1.62%
Emcor Group Inc.1.50%
Neurocrine Biosciences In1.10%
Medpace Holdings Inc1.10%
Motorola Solutions Inc.1.09%
Ftai Aviation Ltd0.95%
Lincoln Electric Holdings0.86%
Teradyne Inc.0.80%
Datadog Inc-Class A0.78%
Monolithic Power Systems0.73%
Jabil Inc0.66%
Cadence Design Sys. Inc0.58%
Sterling Infrastructure0.56%
Macom Technology Solution0.36%
Astera Labs Inc0.24%
Nutanix Inc - A0.24%
Credo Technology Group Ho0.20%
Lattice Semiconductor0.20%
Dynatrace Inc0.20%

Weight gaps

All 15 Holdings in both funds, largest gap first.

Holding weights in FQAL and TPFG, widest gap first
Holding	Gap	FQAL	TPFG
Newmont CorpNEM	TPFG +4.58 points	0.33%	4.91%
Applovin CorpAPP	TPFG +4.59 points	0.33%	4.92%
Ross Stores IncROST	TPFG +4.35 points	0.47%	4.82%
Vertiv Holdings CoVRT	TPFG +3.18 points	0.34%	3.52%
Trane Technologies PLCTT	TPFG +3.17 points	0.43%	3.60%
Ge Vernova IncGEV	TPFG +3.06 points	0.58%	3.64%
Caterpillar IncCAT	TPFG +2.68 points	0.61%	3.29%
Comfort Systems Usa IncFIX	TPFG +2.53 points	0.27%	2.80%
Idexx Labs IncIDXX	TPFG +2.30 points	0.50%	2.80%
Cintas CorpCTAS	TPFG +2.17 points	0.51%	2.68%
Fortinet IncFTNT	TPFG +1.58 points	0.63%	2.21%
Seagate Techn Holdings PLCSTX	TPFG +1.56 points	0.53%	2.09%
Broadcom IncAVGO	TPFG +0.38 points	2.49%	2.87%
Fair Isaac CorpFICO	TPFG +0.12 points	0.50%	0.62%
Palantir Technologies IncPLTR	FQAL +0.06 points	1.25%	1.19%

All 130 FQAL holdings⁠All TPFG holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FQAL vs TPFG Cost

Overpaying TPFG vs FQAL

$8,498

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

FQAL 0.15%
$3,137
TPFG 0.59%
$11,635

Amount$10,000

Years30 years

Cost over time

FQAL 0.15%
TPFG 0.59%
Overpaying

Year by year

Year	FQAL	TPFG	Overpaying
10	$274	$1,058	$784
20	$1,071	$4,051	$2,980
30	$3,137	$11,635	$8,498

Expense ratio

0.15%FQAL, cheaper
0.59%TPFG

FQAL0.15%TPFG0.59%

0.12%0.60%

Middle half of US Quality Index funds
Median 0.39%

FQAL 3rd cheapest of 26 funds

TPFG 23rd cheapest of 26 funds

FQAL vs TPFG Dividends

Last 12 months to Nov 9, 2026

Yield (12M): FQAL 1.16%; TPFG No data
Payout (12M): FQAL $0.97; TPFG None
Last payment: FQAL $0.24; TPFG No data
Ex-dividend: FQAL Sep 18, 2026; TPFG No data
Paid on: FQAL Sep 22, 2026; TPFG No data
Frequency: FQAL Quarterly; TPFG No data

Distribution history

Per share, 2017 to 2026, same scale for both

FQALQuarterly · 39 paymentsAll FQAL payments⁠

TPFGAll TPFG payments⁠

No distribution history available.

FQAL vs TPFG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: FQAL 11.0%TPFG No data
Return per unit of riskSharpe ratio, 3 years: FQAL 1.45TPFG No data
Worst fallMax drawdown, 5 years: FQAL −25.5%TPFG No data
Market sensitivityBeta, 5 years: FQAL 0.94TPFG 0.68; Market = 1

FQAL and TPFG in the news

All news⁠

Category Review
Cash-flow quality returned 42% while QUAL returned 17%
Updated Sep 22, 2026FQAL

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FQAL vs TPFG

In short

Stated mandate

Why people hold it

Worth knowing

How FQAL and TPFG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FQAL

Only in TPFG

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Cash-flow quality returned 42% while QUAL returned 17%

How FQAL and TPFG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FQAL

Only in TPFG

Weight gaps