BOUT vs. WBIF ETF Comparison

Comparison of Innovator IBD Breakout Opportunities ETF (BOUT) to WBI Large Cap Tactical Value Shares (WBIF)

BOUT

Innovator IBD Breakout Opportunities ETF

BOUT Description

The investment seeks to track, before fees and expenses, the performance of the IBD® Breakout Stocks Index (the "index"). The fund will normally invest at least 80% of its net assets (including investment borrowings) in the equity securities that comprise the index. The index seeks to provide opportunistic investment exposure to those stocks with the potential to "break out," or experience a period of sustained price growth beyond the stock's recent "resistance level," with consideration for various market conditions. The fund is non-diversified. BOUT uses technical analysis to find stocks that are likely to breakout. The funds index relies on an algorithm that establishes a base price (a recent high) for each eligible security. The index then follows the trend for each stock. Selected stocks are ranked by a combination of relative strength and fundamental factors, and then weighted in fixed tiers according to this ranking. In addition, BOUT will move 50% of its portfolio into T-bills based on market signals: a rapid increase in either margin debt or overall stock prices, combined with slowing reversing momentum in the S&P 500. The T-bill position will remain in place until the S&P 500 falls by 50% or show indications of rising momentum. BOUT is rebalanced and reconstituted weekly after the close on Friday. The frequent rebalance schedule means the fund will be highly responsive to the technical factors that drive its strategy, but could also experience high turnover.

Grade (RS Rating)

Last Trade

$35.03

Average Daily Volume

2,395

Number of Holdings ^*

* may have additional holdings in another (foreign) market

WBIF

WBI Large Cap Tactical Value Shares

WBIF Description

The investment seeks long-term capital appreciation and the potential for current income, while also seeking to protect principal during unfavorable market conditions. The fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the equity securities of large capitalization domestic and foreign companies which WBI Investments, Inc., the sub-advisor to the fund and an affiliate of Millington Securities Inc., the advisor, believes display an attractive discount in a company's intrinsic value relative to its market price, and up to 20% of its net assets in other tactical investment opportunities.

Grade (RS Rating)

Last Trade

$29.52

Average Daily Volume

1,491

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	BOUT	WBIF
30 Days	2.26%	1.20%
60 Days	-3.57%	-3.70%
90 Days	-1.03%	0.68%
12 Months	20.32%	10.14%

2 Overlapping Holdings

	Symbol	Grade	Weight in BOUT	Weight in WBIF	Overlap
	NXPI	A	7.48%	2.3%	2.3%
	PANW	B	4.03%	2.8%	2.8%

BOUT Overweight 23 Positions Relative to WBIF

Symbol	Grade	Weight
MSDL	A	7.09%
HQY	D	6.96%
FTI	B	6.82%
NOG	B	6.67%
ALKT	B	5.96%
DVA	B	4.64%
CRS	B	4.5%
IRM	C	4.37%
XYL	A	4.31%
BCSF	B	4.07%
IBKR	B	4.01%
HUBS	D	3.88%
GOOG	B	3.84%
LPLA	B	2.05%
AZN	A	2.04%
ERJ	B	1.99%
INTU	D	1.97%
GOOGL	B	1.92%
FWRG	C	1.09%
AVAV	A	1.03%
NVO	D	1.02%
HEI	A	1.01%
WAB	A	0.99%

BOUT Underweight 31 Positions Relative to WBIF

Symbol	Grade	Weight
USHY	A	-8.23%
MO	A	-5.14%
LRCX	D	-4.91%
KNTK	A	-4.89%
TW	A	-4.56%
HPQ	C	-4.52%
HRB	B	-4.35%
BR	D	-4.23%
CHD	A	-3.99%
MA	D	-3.81%
TROW	D	-3.8%
GIS	C	-3.76%
SHW	D	-3.71%
AXP	A	-2.33%
CARR	A	-2.27%
GRMN	A	-2.24%
RGA	A	-2.19%
EBAY	D	-2.18%
UHS	D	-2.07%
UNM	B	-1.98%
CI	D	-1.89%
MAR	D	-1.85%
F	D	-1.85%
WRB	D	-1.83%
PCAR	D	-1.81%
BCC	D	-1.81%
DKS	C	-1.81%
CNA	B	-1.78%
HAL	F	-1.77%
SLB	F	-1.71%
SYY	D	-0.78%