BDGS vs. CAOS ETF Comparison

Comparison of Bridges Capital Tactical ETF (BDGS) to Alpha Architect Tail Risk ETF (CAOS)

BDGS

Bridges Capital Tactical ETF

BDGS Description

The fund is an actively managed, diversified exchange-traded fund ("ETF") that seeks to achieve its investment objective by investing in a blend of passively managed U.S. equity index ETFs, large-capitalization equity securities and cash or cash equivalents. It is expected that the fund will generally hold 5 to 20 investments selected from a universe that includes large-capitalization U.S. equity securities and passively managed index ETFs tracking U.S. small-, mid- and large-capitalization equity indexes (the "Indexes").

Grade (RS Rating)

Last Trade

$31.59

Average Daily Volume

4,004

Number of Holdings ^*

14

* may have additional holdings in another (foreign) market

CAOS

Alpha Architect Tail Risk ETF

CAOS Description

CAOS seeks to actively earn positive returns during periods of significant US equity drawdowns while minimizing the return drag of collateral. The fund allocates up to 20% of portfolio assets in long and/or short SPX Index options, depending on market status. Between 1%-10% of the portfolio is allocated to protective options positioned to appreciate in value when the index declines by more than 25%, which is considered to be a tail risk event. If a tail risk event does not occur, the cost of the protective positions will reduce returns. The remaining 70%-80% of the funds portfolio is collateral consisting of US T-bills, box spreads, and money market instruments. Up to 100% of the collateral may be placed with the Alpha Architect 1-3 Month Box ETF (ticker: BOXX). An ETF that uses box spreads to provide the exposure of 1-3 month treasury bills. The strategy involves frequent trading which increases costs and turnover rate, both having negative impacts on the fund. CAOS operated as a mutual fund until its conversion into an ETF, starting with $126 million in net assets.

Grade (RS Rating)

Last Trade

$87.19

Average Daily Volume

18,182

Number of Holdings ^*

1

* may have additional holdings in another (foreign) market

Performance

Period	BDGS	CAOS
30 Days	2.80%	0.31%
60 Days	3.76%	0.88%
90 Days	4.52%	1.66%
12 Months	18.26%	5.26%

1 Overlapping Holdings

	Symbol	Grade	Weight in BDGS	Weight in CAOS	Overlap
	BOXX	A	22.92%	10.3%	10.3%

BDGS Overweight 13 Positions Relative to CAOS

	Symbol	Grade	Weight
	QQQ	B	10.12%
	IWB	A	10.1%
	TSLA	B	2.52%
	AMZN	C	2.19%
	CVX	A	2.12%
	GOOG	C	2.08%
	COST	A	2.02%
	META	D	1.99%
	AVGO	D	1.98%
	MSFT	D	1.98%
	AAPL	C	1.95%
	PEP	F	1.91%
	NVDA	B	1.03%

BDGS Underweight 0 Positions Relative to CAOS

	Symbol	Grade	Weight

BDGS: Top Represented Industries & Keywords

Industries: Internet Content & Information Semiconductors Auto Manufacturers Beverages - Soft Drinks Consumer Electronics Discount Stores Oil & Gas Integrated Software - Infrastructure Specialty Retail

Keywords: Nasdaq 100 S&P 500 Computing Dow Jones Component Hyperscale Smartphones Work From Home Software ETF Exchange Traded Fund Exchange Traded Funds Fabless Semiconductor Companies Games Laptop Computer Mobile Devices Operating System Retailing Snack Food Sql Stock Market Index

CAOS: Top Represented Industries & Keywords

Industries:

Keywords: Exchange Traded Funds SPDR