AIRR vs. MRGR ETF Comparison

Comparison of First Trust RBA American Industrial Renaissance ETF (AIRR) to ProShares Merger ETF (MRGR)

AIRR

First Trust RBA American Industrial Renaissance ETF

AIRR Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an index called the Richard Bernstein Advisors American Industrial Renaissance Index (the "index"). The fund will normally invest at least 90% of its net assets (plus the amount of any borrowings for investment purposes) in U.S. equity securities that comprise the index. The index is designed to measure the performance of small and mid cap U.S. companies in the industrial and community banking sectors. It is non-diversified.

Grade (RS Rating)

Last Trade

$70.22

Average Daily Volume

112,029

Number of Holdings ^*

* may have additional holdings in another (foreign) market

MRGR

ProShares Merger ETF

MRGR Description

The investment seeks investment results, before fees and expenses, that track the performance of the S&P Merger Arbitrage Index (the "index"). The fund is designed to track the performance of the index and provide exposure to a global merger arbitrage strategy. The index, and by extension the fund, seeks to produce consistent, positive returns in virtually all market environments, although there are no assurances it will achieve this result. The fund is non-diversified. The index seeks to provide a risk arbitrage strategy that exploits commonly observed price changes associated with a global selection of publicly announced mergers, acquisitions and other corporate reorganizations. Historically, the index has exhibited market neutral characteristics, lower volatility compared to the S&P 500, and a low correlation to S&P 500 returns.

Grade (RS Rating)

Last Trade

$39.97

Average Daily Volume

976

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	AIRR	MRGR
30 Days	8.35%	-1.02%
60 Days	10.46%	-1.05%
90 Days	17.35%	0.12%
12 Months	51.66%	6.44%

0 Overlapping Holdings

	Symbol	Grade	Weight in AIRR	Weight in MRGR	Overlap

AIRR Overweight 44 Positions Relative to MRGR

Symbol	Grade	Weight
POWL	B	4.67%
MTZ	B	4.5%
CLH	B	4.05%
MLI	A	3.99%
FIX	B	3.97%
MDU	A	3.87%
DY	A	3.87%
EME	A	3.86%
STRL	A	3.79%
RBC	C	3.72%
ATKR	D	3.65%
FSS	A	3.64%
SHLS	F	3.58%
HUBB	C	3.53%
GVA	A	3.47%
PRIM	B	3.41%
ROAD	C	3.11%
ACA	A	2.65%
AMRC	C	2.47%
BLBD	A	2.36%
GBX	B	2.3%
MWA	A	2.24%
WNC	D	2.18%
LMB	B	2.05%
TPC	A	1.27%
FNB	A	1.19%
PLOW	C	1.13%
ANET	B	0.86%
PRLB	D	0.84%
WTFC	B	0.79%
ONB	A	0.76%
FFBC	B	0.74%
ASTE	F	0.73%
ASB	A	0.72%
FCF	B	0.71%
FULT	A	0.66%
FRME	B	0.64%
PRK	A	0.63%
HTLF	A	0.61%
SRCE	B	0.6%
GABC	D	0.59%
PEBO	B	0.59%
QCRH	B	0.5%
LKFN	C	0.48%

AIRR Underweight 31 Positions Relative to MRGR

Symbol	Grade	Weight
WRK	A	-3.16%
EVBG	D	-3.04%
ETRN	C	-2.88%
PXD	B	-2.69%
NS	D	-2.61%
SWAV	A	-2.54%
EDR	A	-2.53%
FUSN	A	-2.53%
CERE	C	-2.52%
MODN	B	-2.51%
ALPN	A	-2.51%
DOOR	A	-2.51%
AIRC	A	-2.51%
AMK	D	-2.48%
HIBB	A	-2.48%
AEL	A	-2.48%
HCP	B	-2.46%
DFS	C	-2.46%
ANSS	D	-2.44%
WIRE	C	-2.41%
SLCA	B	-2.41%
AXNX	D	-2.4%
HES	B	-2.35%
INBX	D	-2.34%
JNPR	D	-2.31%
CTLT	D	-2.31%
HA	C	-2.17%
MGRC	D	-2.14%
CHX	D	-2.13%
X	D	-1.84%
CPRI	F	-1.57%