BEEZ vs. WBIF ETF Comparison

Comparison of Honeytree U.S. Equity ETF (BEEZ) to WBI Large Cap Tactical Value Shares (WBIF)

BEEZ

Honeytree U.S. Equity ETF

BEEZ Description

The fund is an actively managed exchange-traded fund ("ETF") sub-advised by Honeytree Investment Management Ltd. (the "Sub-Adviser"). The fund does not seek to replicate the performance of a specified index. The fund seeks to achieve its investment objective by investing at least 80% of the fund"s net assets, plus borrowings for investment purposes in a concentrated portfolio of large-cap and mid-cap U.S. listed equity stocks.

Grade (RS Rating)

Last Trade

$32.83

Average Daily Volume

586

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

$29.71

Average Daily Volume

1,657

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	BEEZ	WBIF
30 Days	-1.30%	1.19%
60 Days	0.44%	2.26%
90 Days	4.26%	3.28%
12 Months	23.42%	11.64%

2 Overlapping Holdings

	Symbol	Grade	Weight in BEEZ	Weight in WBIF	Overlap
	ACN	B	4.11%	3.98%	3.98%
	V	A	4.04%	4.26%	4.04%

BEEZ Overweight 23 Positions Relative to WBIF

Symbol	Grade	Weight
INTU	B	4.17%
HD	C	4.13%
COST	A	4.1%
NOW	B	4.09%
CMI	A	4.08%
EW	C	4.07%
ZTS	D	4.05%
FAST	B	4.03%
ATR	B	4.02%
WTS	B	4.02%
MA	B	4.01%
SHW	C	3.99%
EQIX	A	3.98%
ITW	B	3.98%
APD	A	3.97%
TMO	D	3.92%
AMT	D	3.91%
A	F	3.9%
MAS	D	3.87%
TSCO	D	3.86%
TXN	C	3.78%
LRCX	F	3.76%
OLED	F	3.72%

BEEZ Underweight 41 Positions Relative to WBIF

Symbol	Grade	Weight
WRB	A	-4.74%
UHS	D	-4.68%
FIX	A	-4.58%
KBH	D	-4.54%
NXST	D	-4.43%
CI	D	-4.26%
DKS	D	-4.24%
PRU	B	-4.14%
UNM	A	-3.93%
MCK	A	-3.93%
AMAT	F	-3.55%
RGA	B	-3.26%
VOYA	B	-3.26%
OXY	D	-2.81%
PHM	D	-2.6%
MMC	D	-2.12%
CF	A	-1.86%
ADP	B	-1.53%
AXP	B	-1.53%
AME	A	-1.46%
G	B	-1.44%
PRI	B	-1.42%
PAYX	B	-1.39%
BR	B	-1.36%
TXRH	B	-1.33%
CASY	A	-1.28%
RMD	C	-1.23%
FLTR	A	-0.76%
FALN	A	-0.75%
AGZD	A	-0.75%
FTSL	A	-0.69%
ALSN	B	-0.67%
THG	A	-0.59%
DCI	B	-0.56%
GL	C	-0.55%
STIP	A	-0.54%
TOL	B	-0.54%
ALLE	D	-0.53%
CBT	C	-0.53%
DOX	D	-0.52%
BKLN	A	-0.32%