BTAL vs. NXTI ETF Comparison

Comparison of QuantShares U.S. Market Neutral Anti Beta Fund ETF (BTAL) to Simplify Next Intangible Core Index ETF (NXTI)

BTAL

QuantShares U.S. Market Neutral Anti Beta Fund ETF

BTAL Description

The investment seeks performance results that correspond to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Thematic Market Neutral Anti-Beta Index. The fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in common stock, including the short positions, in the Target Anti-Beta Index. The Target Anti-Beta Index is a market neutral index that is dollar-neutral. As such, it identifies long and short securities positions of approximately equal dollar amounts. In choosing to track a market neutral index, the fund seeks to limit the effects of general market movements on the fund.

Grade (RS Rating)

Last Trade

$19.01

Average Daily Volume

445,126

Number of Holdings ^*

392

* may have additional holdings in another (foreign) market

NXTI

Simplify Next Intangible Core Index ETF

NXTI Description

NXTI targets US companies with relatively high intangible capital-to-book assets ratios within their respective sectors. The fund defines intangible capital as productive assets that lack physical presence and are created through investments in brand, knowledge, and organization capital. The index construction starts by calculating a ratio of intangible capital-to-book assets for each security in an initial universe consisting of the largest 2000 US companies by market-cap. The 200 stocks with the highest intangible capital-to-book assets ratio are selected for inclusion. At least five stocks are included from each of the 13 sectors determined by the index provider using a combination of SIC and NAICS codes along with data from publicly available 10-K filings. Constituents are weighted by market capitalization, with individual security weights capped at 5%. The index reconstitutes quarterly.

Grade (RS Rating)

Last Trade

$30.42

Average Daily Volume

460

Number of Holdings ^*

197

* may have additional holdings in another (foreign) market

Performance

Period	BTAL	NXTI
30 Days	-4.57%	5.73%
60 Days	-3.16%	7.47%
90 Days	-3.70%	10.93%
12 Months	-6.81%

70 Overlapping Holdings

Symbol	Grade	Weight in BTAL	Weight in NXTI	Overlap
ACGL	D	0.38%	0.14%	0.14%
ALGN	D	-0.43%	0.47%	-0.43%
ALL	A	0.48%	0.19%	0.19%
BKR	B	0.53%	0.25%	0.25%
BRO	B	0.47%	0.12%	0.12%
BX	A	-0.57%	0.77%	-0.57%
CACI	D	0.42%	0.16%	0.16%
CBRE	B	-0.51%	0.15%	-0.51%
CI	F	0.4%	0.36%	0.36%
CNC	D	0.32%	0.13%	0.13%
CSCO	B	0.49%	2.73%	0.49%
CTSH	B	0.43%	0.47%	0.43%
CVNA	B	-0.68%	0.19%	-0.68%
D	C	-0.45%	0.46%	-0.45%
DASH	A	-0.59%	0.42%	-0.59%
DD	D	0.43%	0.18%	0.18%
DECK	A	0.44%	0.14%	0.14%
DELL	C	-0.53%	1.03%	-0.53%
DKNG	B	-0.53%	0.1%	-0.53%
DLB	B	0.43%	0.04%	0.04%
DNLI	D	-0.42%	0.1%	-0.42%
DUOL	A	-0.63%	0.14%	-0.63%
ED	D	0.42%	0.32%	0.32%
EL	F	-0.31%	0.18%	-0.31%
ELV	F	0.33%	0.36%	0.33%
EXPE	B	-0.56%	0.14%	-0.56%
FFIV	B	0.52%	0.17%	0.17%
FTNT	C	0.52%	0.77%	0.52%
GIS	D	0.38%	0.16%	0.16%
GPC	D	0.37%	0.1%	0.1%
HIG	B	0.45%	0.13%	0.13%
HON	B	0.47%	0.91%	0.47%
HPQ	B	0.45%	0.45%	0.45%
HUM	C	0.34%	0.15%	0.15%
IBM	C	0.45%	2.28%	0.45%
IDXX	F	-0.39%	1.04%	-0.39%
ILMN	D	-0.43%	0.15%	-0.43%
IOT	A	-0.52%	0.28%	-0.52%
JNPR	F	0.39%	0.16%	0.16%
KO	D	0.37%	1.23%	0.37%
KR	B	0.47%	0.37%	0.37%
LRCX	F	-0.36%	0.53%	-0.36%
LYV	A	-0.62%	0.15%	-0.62%
MDB	C	-0.53%	0.24%	-0.53%
MMC	B	0.42%	0.43%	0.42%
MSI	B	0.51%	0.91%	0.51%
MTCH	D	0.35%	0.12%	0.12%
NET	B	-0.5%	0.38%	-0.5%
NRG	B	-0.49%	0.17%	-0.49%
NTRA	B	-0.56%	0.45%	-0.56%
ORLY	B	0.5%	0.49%	0.49%
PAYX	C	0.47%	0.32%	0.32%
PEN	B	-0.52%	0.32%	-0.52%
PGR	A	0.45%	0.56%	0.45%
PINS	D	-0.4%	0.29%	-0.4%
PLTR	B	-0.87%	0.99%	-0.87%
SHW	A	-0.47%	0.36%	-0.47%
SNAP	C	-0.49%	0.23%	-0.49%
SRPT	D	0.32%	0.43%	0.32%
TER	D	-0.33%	0.12%	-0.33%
TGT	F	-0.44%	0.67%	-0.44%
TOST	B	-0.71%	0.19%	-0.71%
TRV	B	0.52%	0.22%	0.22%
TT	A	-0.51%	0.52%	-0.51%
TXT	D	0.4%	0.1%	0.1%
UBER	D	-0.42%	1.04%	-0.42%
UNH	C	0.43%	2.16%	0.43%
VST	B	-0.76%	0.32%	-0.76%
XOM	B	0.44%	3.43%	0.44%
ZS	C	-0.46%	0.33%	-0.46%

BTAL Overweight 322 Positions Relative to NXTI

Symbol	Grade	Weight
MSTR	C	1.19%
BILL	A	0.68%
IBKR	A	0.62%
SFM	A	0.6%
LPLA	A	0.59%
PAYC	B	0.59%
HQY	B	0.58%
UNM	A	0.57%
ALSN	B	0.56%
KMI	A	0.56%
CFLT	B	0.56%
SNA	A	0.55%
NWL	B	0.54%
PCTY	B	0.53%
MKL	A	0.53%
WH	B	0.53%
BWXT	B	0.53%
TGNA	B	0.53%
TXRH	C	0.51%
RLI	B	0.51%
PCAR	B	0.51%
MCK	B	0.51%
THG	A	0.51%
LNG	B	0.51%
BMY	B	0.51%
WELL	A	0.5%
CHH	A	0.5%
XEL	A	0.5%
PNM	F	0.5%
T	A	0.5%
AEE	A	0.49%
CINF	A	0.49%
G	B	0.49%
TMUS	B	0.49%
PKG	A	0.49%
GILD	C	0.49%
VFC	C	0.48%
SIGI	C	0.48%
FOXA	B	0.48%
RGA	A	0.48%
VTRS	A	0.48%
LULU	C	0.48%
AIZ	A	0.48%
AXS	A	0.48%
TDY	B	0.48%
SBRA	C	0.47%
DBX	B	0.47%
CHD	B	0.47%
GLW	B	0.47%
CME	A	0.47%
AON	A	0.47%
HEI	B	0.47%
CW	B	0.47%
RYAN	B	0.47%
EDR	A	0.46%
DRI	B	0.46%
WEN	D	0.46%
SLGN	A	0.46%
RNR	C	0.46%
LNT	A	0.46%
CF	B	0.46%
WEC	A	0.46%
ADP	B	0.46%
ORI	A	0.46%
UTHR	C	0.45%
WRB	A	0.45%
CB	C	0.45%
CSX	B	0.45%
CMG	B	0.45%
REG	B	0.45%
AVB	B	0.45%
ARMK	B	0.45%
WM	A	0.45%
COR	B	0.45%
ADC	B	0.45%
DGX	A	0.45%
WTW	B	0.45%
L	A	0.45%
ROP	B	0.45%
PNW	B	0.45%
CHRW	C	0.45%
JAZZ	B	0.44%
ACN	C	0.44%
EQR	B	0.44%
CMS	C	0.44%
BWA	D	0.44%
CDP	C	0.44%
VZ	C	0.44%
NEU	C	0.44%
CBOE	B	0.43%
DOX	D	0.43%
VRSN	F	0.43%
CLH	B	0.43%
ZI	D	0.43%
YUM	B	0.43%
MSFT	F	0.43%
MUSA	A	0.43%
RTX	C	0.43%
X	C	0.43%
RSG	A	0.43%
OHI	C	0.43%
ELS	C	0.43%
TJX	A	0.43%
CCK	C	0.43%
DUK	C	0.43%
MSM	C	0.43%
COLM	B	0.43%
FLO	D	0.42%
AVT	C	0.42%
VICI	C	0.42%
JNJ	D	0.42%
CXT	B	0.42%
GLPI	C	0.42%
MCD	D	0.42%
EG	C	0.42%
HRB	D	0.41%
J	F	0.41%
WPC	D	0.41%
SNX	C	0.41%
MKC	D	0.41%
OLLI	D	0.41%
GD	F	0.41%
PAG	B	0.41%
BG	F	0.4%
SAIC	F	0.4%
CHE	D	0.4%
MSA	D	0.4%
NOC	D	0.4%
ASGN	F	0.39%
WTM	A	0.39%
AMCR	D	0.39%
O	D	0.39%
FANG	D	0.39%
KHC	F	0.38%
CPB	D	0.38%
ON	D	0.38%
ERIE	D	0.38%
OXY	D	0.38%
MOS	F	0.38%
LMT	D	0.38%
FCN	D	0.38%
FMC	D	0.37%
MAN	D	0.37%
KBR	F	0.37%
ARW	D	0.37%
TNET	D	0.37%
PFE	D	0.37%
DVN	F	0.37%
AMGN	D	0.37%
MUR	D	0.37%
ST	F	0.36%
ABBV	D	0.36%
MOH	F	0.36%
AKAM	D	0.36%
NEM	D	0.35%
FOXF	F	0.35%
AZO	C	0.33%
MDU	D	0.32%
BMRN	D	0.29%
AGL	F	0.16%
SMCI	F	-0.18%
SEDG	F	-0.19%
RUN	F	-0.21%
MRNA	F	-0.22%
CNXC	F	-0.23%
ENPH	F	-0.23%
MPWR	F	-0.24%
CE	F	-0.24%
WOLF	F	-0.25%
TXG	F	-0.26%
NTLA	F	-0.27%
RKT	F	-0.29%
CELH	F	-0.29%
RIVN	F	-0.3%
OPEN	D	-0.3%
BRZE	C	-0.33%
COTY	F	-0.33%
AMKR	D	-0.34%
ELF	C	-0.35%
EFX	F	-0.35%
SHLS	F	-0.35%
ARWR	F	-0.35%
AES	F	-0.35%
TFX	F	-0.36%
DKS	C	-0.37%
WMS	D	-0.37%
RGEN	D	-0.37%
ALLY	C	-0.37%
NVCR	C	-0.38%
RIG	D	-0.38%
CNM	D	-0.38%
DINO	D	-0.39%
PLD	D	-0.39%
KSS	F	-0.39%
ELAN	D	-0.39%
WBA	F	-0.4%
ARE	D	-0.4%
FND	C	-0.4%
MKSI	C	-0.4%
AMD	F	-0.4%
BLD	D	-0.4%
KMX	B	-0.4%
FBIN	D	-0.41%
ROIV	C	-0.41%
AGNC	D	-0.41%
W	F	-0.41%
POWI	D	-0.41%
CRL	C	-0.41%
CHX	C	-0.42%
AWK	D	-0.42%
FCX	D	-0.42%
CZR	F	-0.42%
CWEN	C	-0.42%
CSGP	D	-0.42%
MU	D	-0.43%
CC	C	-0.43%
CRSP	D	-0.43%
MGM	D	-0.43%
PATH	C	-0.43%
SSD	D	-0.43%
SEE	C	-0.44%
THO	B	-0.44%
BLDR	D	-0.44%
F	C	-0.44%
TRU	D	-0.44%
EW	C	-0.44%
UGI	A	-0.44%
RYN	D	-0.44%
APG	B	-0.44%
BBWI	D	-0.44%
TREX	C	-0.45%
NWE	B	-0.45%
DAR	C	-0.45%
CARR	D	-0.45%
MTDR	B	-0.45%
RMD	C	-0.45%
AVGO	D	-0.45%
OC	A	-0.46%
SMG	D	-0.46%
VEEV	C	-0.46%
BXP	D	-0.46%
LAMR	D	-0.46%
KRC	C	-0.46%
JLL	D	-0.46%
ANET	C	-0.46%
PENN	C	-0.46%
TOL	B	-0.47%
ROKU	D	-0.47%
HHH	B	-0.47%
TROW	B	-0.48%
NVDA	C	-0.48%
LNC	B	-0.48%
AXTA	A	-0.49%
OZK	B	-0.49%
USFD	A	-0.49%
PFGC	B	-0.49%
ITT	A	-0.49%
WAL	B	-0.49%
GH	B	-0.49%
USB	A	-0.49%
CFG	B	-0.49%
NVT	B	-0.49%
RF	A	-0.5%
TTD	B	-0.5%
CAR	C	-0.51%
RMBS	C	-0.51%
PWR	A	-0.51%
GNRC	B	-0.51%
RBLX	C	-0.51%
RRC	B	-0.51%
LPX	B	-0.52%
CEG	D	-0.52%
COHR	B	-0.52%
ETN	A	-0.52%
URI	B	-0.52%
VNO	B	-0.52%
PYPL	B	-0.52%
ALB	C	-0.52%
ZION	B	-0.53%
AR	B	-0.53%
JHG	A	-0.53%
EXP	A	-0.53%
RH	B	-0.53%
FYBR	D	-0.53%
INTC	D	-0.54%
SNV	B	-0.54%
BLK	C	-0.54%
FOUR	B	-0.54%
NTRS	A	-0.54%
XPO	B	-0.54%
CMA	A	-0.54%
CG	A	-0.55%
KKR	A	-0.55%
PNFP	B	-0.55%
WCC	B	-0.55%
AA	B	-0.56%
SCHW	B	-0.56%
DAY	B	-0.56%
Z	A	-0.56%
GME	C	-0.56%
MRVL	B	-0.56%
TDOC	C	-0.56%
CRWD	B	-0.57%
GTLS	B	-0.58%
OWL	A	-0.58%
TPG	A	-0.58%
EQT	B	-0.59%
PODD	C	-0.59%
SAIA	B	-0.59%
SQ	B	-0.6%
LITE	B	-0.62%
CCL	B	-0.63%
LYFT	C	-0.65%
VRT	B	-0.67%
DAL	C	-0.68%
PTON	B	-0.69%
TSLA	B	-0.7%
COIN	C	-0.71%
HOOD	B	-0.72%
AXON	A	-0.74%
SOFI	A	-0.79%
AFRM	B	-0.84%

BTAL Underweight 127 Positions Relative to NXTI

Symbol	Grade	Weight
META	D	-5.28%
WMT	A	-5.09%
BRK.A	B	-4.18%
MA	C	-3.02%
ADBE	C	-2.94%
NOW	A	-2.29%
INTU	C	-2.08%
HD	A	-1.6%
PANW	C	-1.5%
ALNY	D	-1.07%
PEP	F	-1.02%
SNPS	B	-0.95%
SPOT	B	-0.93%
PM	B	-0.9%
BKNG	A	-0.88%
CDNS	B	-0.87%
NKE	D	-0.82%
WDAY	B	-0.81%
UPS	C	-0.79%
AXP	A	-0.77%
AMAT	F	-0.74%
ADSK	A	-0.72%
GEV	B	-0.66%
TEAM	A	-0.61%
WMB	A	-0.59%
LOW	D	-0.59%
ABNB	C	-0.58%
FICO	B	-0.57%
CL	D	-0.55%
CTAS	B	-0.55%
APP	B	-0.54%
DDOG	A	-0.54%
EA	A	-0.5%
ITW	B	-0.49%
MMM	D	-0.47%
INCY	C	-0.46%
FDX	B	-0.44%
NBIX	C	-0.4%
INSM	C	-0.39%
PH	A	-0.39%
ECL	D	-0.35%
TRGP	B	-0.34%
HUBS	A	-0.34%
MPC	D	-0.33%
EBAY	D	-0.33%
GDDY	A	-0.31%
KMB	D	-0.31%
GWW	B	-0.31%
CMI	A	-0.3%
HSIC	B	-0.3%
CDW	F	-0.3%
ITCI	C	-0.29%
CVS	D	-0.29%
NTAP	C	-0.29%
EXEL	B	-0.29%
A	D	-0.26%
STX	D	-0.26%
AJG	B	-0.25%
IT	C	-0.24%
AFL	B	-0.24%
RDDT	B	-0.24%
VLTO	D	-0.23%
VMC	B	-0.23%
ZBRA	B	-0.23%
NWS	B	-0.22%
AMP	A	-0.22%
MNST	C	-0.22%
IONS	F	-0.22%
NTNX	A	-0.21%
MDGL	B	-0.2%
CYTK	F	-0.2%
BPMC	C	-0.2%
AIG	B	-0.2%
MANH	D	-0.19%
DT	C	-0.19%
INSP	D	-0.19%
PSTG	D	-0.19%
SMMT	D	-0.19%
BBIO	F	-0.18%
FAST	B	-0.18%
PRU	A	-0.18%
DOCU	A	-0.18%
MTD	D	-0.18%
BBY	D	-0.18%
KEYS	A	-0.17%
ULTA	F	-0.16%
OTIS	C	-0.16%
GWRE	A	-0.16%
SYY	B	-0.16%
RARE	D	-0.15%
CORT	B	-0.15%
HSY	F	-0.15%
ROL	B	-0.15%
BAH	F	-0.15%
ALKS	B	-0.14%
WAT	B	-0.14%
WSM	B	-0.14%
BURL	A	-0.14%
NI	A	-0.14%
AXSM	B	-0.14%
XYL	D	-0.14%
CLX	B	-0.13%
DOV	A	-0.12%
AVY	D	-0.12%
EXPD	D	-0.12%
K	A	-0.12%
FOLD	F	-0.12%
APLS	D	-0.12%
PPG	F	-0.12%
TW	A	-0.11%
GTLB	B	-0.11%
TGTX	B	-0.11%
IOVA	F	-0.11%
RL	B	-0.11%
TSCO	D	-0.11%
NYT	C	-0.11%
LII	A	-0.11%
PCOR	B	-0.11%
APPF	B	-0.1%
AMED	F	-0.1%
ACI	C	-0.1%
APTV	D	-0.1%
CHWY	B	-0.09%
DYN	F	-0.09%
RS	B	-0.09%
WING	D	-0.08%
LNW	D	-0.04%