With Amazon recently stating that it is no longer permitting third-party sellers to use FedEx’s ground-delivery shipping, signifying the latest escalation in the two companies’ ongoing competition, now FedEx is striking back, claiming it could be beating Amazon within the next 2 years.

“If you think about all the positive things we’ve said and that we’re seeing, as we get into 2021, we will start lapping Amazon,” FedEx CFO Alan B. Graf Jr. said on the company’s earnings call Tuesday evening. “Without giving you specifics, we’re at the bottom, and we’re going to come up off the mat and we’re going to improve through the rest of this year and into the next.”

FedEx validated the Amazon’s decision to curtail its competitor’s ground-delivery shipping after a report in The Wall Street Journal was released on Monday. The news drove FedEx shares down by as much as 1.1%.

Amazon said it made the choice based on FedEx’s substandard delivery performance and to ensure shoppers would receive their packages during this hectic holiday period. The company didn’t indicate when it would resume the service.

“While this decision affects a very small number of shippers, it limits the options for those small businesses on some of the highest demand shipping days in history, and may compromise their ability to meet customer demands and manage their businesses,” a FedEx spokesperson said in a statement to CNBC. “FedEx Ground stands ready to support our customers and will continue to deliver record-breaking volume this holiday season.”

Earlier Tuesday, FedEx reported weaker-than-expected fiscal second-quarter results and modified its full-year earnings outlook for 2020. Shares of FedEx slid 9.8% in early trading on Wednesday. The company has given up a little more than 4 billion in market value since Tuesday’s close and the stock is off about 8.9% year to date.

“The loss of volume from Amazon had a larger negative impact to the second quarter than the first quarter since the FedEx ground contract with Amazon expired in August,” Graf said on the call.

For investors looking to use ETFs to play Amazon, the Fidelity MSCI Consumer Discretionary Index ETF (FDIS)the ProShares Online Retail ETF (NYSEArca: ONLN)and the Consumer Discret Sel Sect SPDR ETF (NYSEArca: XLY) all have healthy allocations of the tech giant. Meanwhile, those looking for FedEx can consider an ETF like the iShares Transportation Average ETF (IYT).

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