BTAL vs. SDP ETF Comparison

Comparison of QuantShares U.S. Market Neutral Anti Beta Fund ETF (BTAL) to ProShares UltraShort Utilities (SDP)

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

SDP

ProShares UltraShort Utilities

SDP Description

The investment seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the Dow Jones U.S. UtilitiesSM Index. The fund invests in derivatives that ProShare Advisors believes, in combination, should have similar daily return characteristics as two times the inverse (-2x) of the daily return of the index. The index measures the performance of the utilities sector of the U.S. equity market. Component companies include, among others, electric utilities, gas utilities, multi-utilities and water utilities. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$14.92

Average Daily Volume

35,154

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	BTAL	SDP
30 Days	-4.57%	2.33%
60 Days	-3.16%	-1.82%
90 Days	-3.70%	-14.20%
12 Months	-6.81%	-41.26%

17 Overlapping Holdings

Symbol	Grade	Weight in BTAL	Weight in SDP	Overlap
AEE	A	0.49%	1.92%	0.49%
AES	F	-0.35%	1.33%	-0.35%
AWK	D	-0.42%	2.31%	-0.42%
CMS	C	0.44%	1.82%	0.44%
D	C	-0.45%	6.77%	-0.45%
DUK	C	0.43%	6.69%	0.43%
ED	D	0.42%	2.94%	0.42%
LNT	A	0.46%	1.35%	0.46%
MDU	D	0.32%	0.58%	0.32%
NRG	B	-0.49%	0.95%	-0.49%
NWE	B	-0.45%	0.37%	-0.45%
PNM	F	0.5%	0.4%	0.4%
PNW	B	0.45%	1.03%	0.45%
UGI	A	-0.44%	0.91%	-0.44%
VST	B	-0.76%	1.01%	-0.76%
WEC	A	0.46%	2.98%	0.46%
XEL	A	0.5%	3.36%	0.5%

BTAL Overweight 375 Positions Relative to SDP

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%
BKR	B	0.53%
PCTY	B	0.53%
MKL	A	0.53%
WH	B	0.53%
BWXT	B	0.53%
TGNA	B	0.53%
TRV	B	0.52%
FFIV	B	0.52%
FTNT	C	0.52%
TXRH	C	0.51%
MSI	B	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%
ORLY	B	0.5%
T	A	0.5%
CSCO	B	0.49%
CINF	A	0.49%
G	B	0.49%
TMUS	B	0.49%
PKG	A	0.49%
GILD	C	0.49%
ALL	A	0.48%
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%
BRO	B	0.47%
SBRA	C	0.47%
DBX	B	0.47%
CHD	B	0.47%
PAYX	C	0.47%
GLW	B	0.47%
CME	A	0.47%
AON	A	0.47%
HON	B	0.47%
HEI	B	0.47%
KR	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%
CF	B	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%
PGR	A	0.45%
WM	A	0.45%
IBM	C	0.45%
HIG	B	0.45%
COR	B	0.45%
ADC	B	0.45%
DGX	A	0.45%
WTW	B	0.45%
HPQ	B	0.45%
L	A	0.45%
ROP	B	0.45%
CHRW	C	0.45%
XOM	B	0.44%
JAZZ	B	0.44%
ACN	C	0.44%
DECK	A	0.44%
EQR	B	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%
UNH	C	0.43%
DLB	B	0.43%
CLH	B	0.43%
ZI	D	0.43%
CTSH	B	0.43%
YUM	B	0.43%
MSFT	F	0.43%
MUSA	A	0.43%
DD	D	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%
MSM	C	0.43%
COLM	B	0.43%
FLO	D	0.42%
AVT	C	0.42%
VICI	C	0.42%
JNJ	D	0.42%
MMC	B	0.42%
CACI	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%
CI	F	0.4%
CHE	D	0.4%
MSA	D	0.4%
NOC	D	0.4%
TXT	D	0.4%
ASGN	F	0.39%
WTM	A	0.39%
AMCR	D	0.39%
O	D	0.39%
JNPR	F	0.39%
FANG	D	0.39%
KHC	F	0.38%
CPB	D	0.38%
ON	D	0.38%
ACGL	D	0.38%
GIS	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%
KO	D	0.37%
GPC	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%
MTCH	D	0.35%
FOXF	F	0.35%
HUM	C	0.34%
AZO	C	0.33%
ELV	F	0.33%
CNC	D	0.32%
SRPT	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%
EL	F	-0.31%
TER	D	-0.33%
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%
LRCX	F	-0.36%
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%
IDXX	F	-0.39%
KSS	F	-0.39%
ELAN	D	-0.39%
PINS	D	-0.4%
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%
DNLI	D	-0.42%
CHX	C	-0.42%
FCX	D	-0.42%
CZR	F	-0.42%
UBER	D	-0.42%
CWEN	C	-0.42%
CSGP	D	-0.42%
MU	D	-0.43%
ILMN	D	-0.43%
CC	C	-0.43%
CRSP	D	-0.43%
MGM	D	-0.43%
ALGN	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%
RYN	D	-0.44%
APG	B	-0.44%
BBWI	D	-0.44%
TGT	F	-0.44%
TREX	C	-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%
ZS	C	-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%
SHW	A	-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%
SNAP	C	-0.49%
USB	A	-0.49%
CFG	B	-0.49%
NVT	B	-0.49%
RF	A	-0.5%
TTD	B	-0.5%
NET	B	-0.5%
CAR	C	-0.51%
RMBS	C	-0.51%
PWR	A	-0.51%
GNRC	B	-0.51%
TT	A	-0.51%
CBRE	B	-0.51%
RBLX	C	-0.51%
RRC	B	-0.51%
LPX	B	-0.52%
CEG	D	-0.52%
COHR	B	-0.52%
PEN	B	-0.52%
ETN	A	-0.52%
IOT	A	-0.52%
URI	B	-0.52%
VNO	B	-0.52%
PYPL	B	-0.52%
ALB	C	-0.52%
DELL	C	-0.53%
ZION	B	-0.53%
MDB	C	-0.53%
AR	B	-0.53%
JHG	A	-0.53%
EXP	A	-0.53%
RH	B	-0.53%
FYBR	D	-0.53%
DKNG	B	-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%
EXPE	B	-0.56%
MRVL	B	-0.56%
TDOC	C	-0.56%
NTRA	B	-0.56%
BX	A	-0.57%
CRWD	B	-0.57%
GTLS	B	-0.58%
OWL	A	-0.58%
TPG	A	-0.58%
EQT	B	-0.59%
PODD	C	-0.59%
DASH	A	-0.59%
SAIA	B	-0.59%
SQ	B	-0.6%
LYV	A	-0.62%
LITE	B	-0.62%
DUOL	A	-0.63%
CCL	B	-0.63%
LYFT	C	-0.65%
VRT	B	-0.67%
CVNA	B	-0.68%
DAL	C	-0.68%
PTON	B	-0.69%
TSLA	B	-0.7%
TOST	B	-0.71%
COIN	C	-0.71%
HOOD	B	-0.72%
AXON	A	-0.74%
SOFI	A	-0.79%
AFRM	B	-0.84%
PLTR	B	-0.87%

BTAL Underweight 29 Positions Relative to SDP

Symbol	Grade	Weight
NEE	D	-12.13%
SO	D	-6.91%
AEP	D	-4.77%
EXC	C	-4.51%
SRE	A	-4.34%
PEG	A	-2.93%
ES	D	-2.81%
EIX	B	-2.7%
FE	C	-2.6%
PPL	B	-2.56%
DTE	C	-2.52%
ETR	B	-2.46%
EVRG	A	-1.5%
ATO	A	-1.34%
CNP	B	-1.33%
WTRG	B	-1.07%
NI	A	-1.06%
IDA	A	-0.54%
HE	C	-0.51%
POR	C	-0.51%
OGS	A	-0.49%
BKH	A	-0.49%
SR	A	-0.42%
ALE	A	-0.42%
SWX	B	-0.41%
NJR	A	-0.41%
NFG	A	-0.38%
AVA	A	-0.32%
AGR	B	-0.28%