SMOG vs. COWS ETF Comparison

Comparison of VanEck Vectors Low Carbon Energy ETF (SMOG) to Amplify Cash Flow Dividend Leaders ETF (COWS)

SMOG

VanEck Vectors Low Carbon Energy ETF

SMOG Description

The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Ardour Global IndexSM (Extra Liquid). The fund normally invests at least 80% of its total assets in stocks of low carbon energy companies. Such companies may include small- and medium-capitalization companies and foreign issuers. "Low carbon energy companies" refers to companies primarily engaged in alternative energy, including renewable energy, alternative fuels and related enabling technologies (such as advanced batteries). It is non-diversified.

Grade (RS Rating)

Last Trade

$100.27

Average Daily Volume

2,801

Number of Holdings ^*

* may have additional holdings in another (foreign) market

COWS

Amplify Cash Flow Dividend Leaders ETF

COWS Description

COWS is an index tracking fund utilizing a replication strategy. The index strategy aims to invest in US stocks of companies perceived to be stable and pay dividends. The starting investment universe considers the 1000 most liquid US-listed companies, excluding the financial sector. Filtering this universe, the 100 highest ranked free cash flow yielding stocks, as measured by equally weighting the stocks average trailing and forward cash flow yield. Companies with no forward estimates for free cash flow yields or earnings are removed. The investment universe is then filtered to identify dividend paying stocks with three years of uninterrupted dividend growth. Stocks with a payout ratio greater than 75% are eliminated. The top 10% of dividend yielding stocks are selected for the index. This process results in 40-100 stocks being selected and initially equally weighted in the index. Industry exposure is capped at 24%. Index holdings are reconstituted and rebalanced on a quarterly basis.

Grade (RS Rating)

Last Trade

$28.61

Average Daily Volume

9,707

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	SMOG	COWS
30 Days	3.71%	-3.63%
60 Days	1.59%	1.26%
90 Days	5.44%	6.86%
12 Months	-11.15%

1 Overlapping Holdings

	Symbol	Grade	Weight in SMOG	Weight in COWS	Overlap
	OC	A	2.95%	2.58%	2.58%

SMOG Overweight 28 Positions Relative to COWS

Symbol	Grade	Weight
NEE	B	9.73%
TSLA	D	7.81%
LI	F	3.72%
FSLR	B	3.45%
ENPH	F	3.06%
RIVN	F	1.49%
NIO	C	1.4%
XPEV	F	1.34%
IBP	D	1.09%
EBR	D	1.08%
BMI	A	0.91%
ENS	B	0.73%
SEDG	F	0.72%
CIG	B	0.71%
ORA	C	0.64%
LCID	F	0.58%
HASI	C	0.48%
QS	F	0.47%
ELP	F	0.43%
TAC	C	0.4%
BE	C	0.39%
DQ	F	0.37%
AY	B	0.35%
RUN	D	0.34%
ARRY	D	0.34%
PLUG	F	0.32%
JKS	D	0.2%
CSIQ	F	0.16%

SMOG Underweight 9 Positions Relative to COWS

Symbol	Grade	Weight
FDX	D	-2.7%
VST	B	-2.67%
HOG	D	-2.64%
CMC	C	-2.6%
BC	D	-2.56%
THO	D	-2.55%
UFPI	C	-2.52%
NXST	C	-2.5%
FIS	B	-2.48%