CBLS vs. DIVL ETF Comparison

Comparison of Changebridge Capital Long/Short Equity ETF (CBLS) to Madison Dividend Value ETF (DIVL)
CBLS

Changebridge Capital Long/Short Equity ETF

CBLS Description

The investment seeks long-term capital appreciation while minimizing volatility. The Adviser also considers an assessment of a company's ESG attributes in determining the attractiveness of an investment opportunity. In general, the fund's investments are broadly invested over a number of sectors, but it may focus on the technology, consumer, and healthcare sectors. Under normal circumstances, at least 80% of the fund's net assets, plus borrowings for investment purposes, will be invested long or short in equity securities, including common stocks and depositary receipts. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$26.78

Average Daily Volume

2,122

Number of Holdings *

68

* may have additional holdings in another (foreign) market
DIVL

Madison Dividend Value ETF

DIVL Description The fund seeks to achieve its investment objective by investing in equity securities of companies with a market capitalization of over $1 billion and a history of paying dividends, with the ability to increase dividends over time. Under normal market conditions, the fund will invest at least 80% of its net assets (including any borrowings for investment purposes) in dividend paying equity securities. The fund may also invest up to 50% of its common stock allocation in foreign securities, including ADRs and emerging market securities.

Grade (RS Rating)

Last Trade

$22.71

Average Daily Volume

2,673

Number of Holdings *

36

* may have additional holdings in another (foreign) market
Performance
Period CBLS DIVL
30 Days 4.21% 2.44%
60 Days 5.17% 5.00%
90 Days 4.99% 6.85%
12 Months 35.40% 22.78%
5 Overlapping Holdings
Symbol Grade Weight in CBLS Weight in DIVL Overlap
D C 2.27% 2.28% 2.27%
DE A -1.48% 1.14% -1.48%
JNJ D -1.1% 2.77% -1.1%
NEE D 2.14% 2.69% 2.14%
PEP F -0.48% 1.32% -0.48%
CBLS Overweight 63 Positions Relative to DIVL
Symbol Grade Weight
LNG B 3.43%
NVDA C 3.08%
GOOG C 3.02%
AAPL C 2.97%
DELL C 2.93%
GTLS B 2.77%
SKY A 2.73%
BWXT B 2.7%
COST B 2.62%
STRL B 2.61%
SCHW B 2.56%
CCL B 2.54%
EME C 2.53%
VST B 2.46%
OSW A 2.41%
MC C 2.37%
IBN C 2.36%
WTTR B 2.33%
NARI C 2.26%
RDDT B 2.26%
SO D 2.24%
ECL D 2.24%
ROL B 2.23%
AER B 2.22%
ORCL B 2.06%
BLBD D 2.06%
WMT A 2.03%
ETR B 1.96%
AMZN C 1.96%
INTC D 1.93%
SCI B 1.93%
ERJ B 1.85%
TDG D 1.79%
RTX C 1.72%
GD F 1.69%
ON D 1.53%
MGNI A 1.31%
DOOO F -0.44%
KLG C -0.48%
KDP D -0.48%
HRB D -0.5%
GIS D -0.5%
INTU C -0.51%
POST C -0.51%
ENR B -0.67%
GIII D -0.89%
R B -0.91%
TTC D -0.92%
PFE D -1.0%
CAG D -1.01%
NVO D -1.01%
SIG B -1.04%
GOGO C -1.1%
NVAX F -1.13%
ROK B -1.13%
MIDD C -1.15%
AME A -1.18%
F C -1.36%
SNOW C -1.49%
DUOL A -1.56%
HSY F -1.69%
HELE C -1.72%
LLY F -1.79%
CBLS Underweight 31 Positions Relative to DIVL
Symbol Grade Weight
MS A -4.78%
FAST B -4.53%
ADP B -4.51%
BLK C -3.99%
HON B -3.92%
TXN C -3.85%
HD A -3.83%
ABBV D -3.54%
JPM A -3.52%
LOW D -3.29%
EOG A -3.17%
CVX A -3.1%
CMCSA B -2.82%
UNP C -2.74%
HPE B -2.65%
MDT D -2.64%
CME A -2.63%
BAC A -2.61%
AMT D -2.58%
COP C -2.57%
USB A -2.54%
MKC D -2.35%
APD A -2.29%
CMI A -2.16%
DGX A -2.02%
XOM B -1.91%
PG A -1.41%
NKE D -1.36%
ABT B -1.25%
PAYX C -1.13%
CL D -0.99%
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