CBLS vs. PKB ETF Comparison

Comparison of Changebridge Capital Long/Short Equity ETF (CBLS) to PowerShares Dynamic Build & Construction (PKB)

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

$26.64

Average Daily Volume

1,942

Number of Holdings ^*

* may have additional holdings in another (foreign) market

PKB

PowerShares Dynamic Build & Construction

PKB Description

The PowerShares Dynamic Building & Construction Portfolio (Fund) is based on the Dynamic Building & Construction IntellidexSM Index (Intellidex Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Intellidex Index thoroughly evaluates companies based on a variety of investment merit criteria, including: price momentum, earnings momentum, quality, management action, and value. The Underlying Intellidex Index is comprised of common stocks of 30 US building and construction companies. These are companies that are primarily engaged in providing construction and related engineering services for building and remodeling residential properties, commercial or industrial buildings, or working on large-scale infrastructure projects, such as highways, tunnels, bridges, dams, power lines, and airports. The Fund and the Index are rebalanced and reconstituted quarterly in February, May, August and November.

Grade (RS Rating)

Last Trade

$85.10

Average Daily Volume

19,509

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CBLS	PKB
30 Days	3.33%	2.45%
60 Days	4.83%	6.18%
90 Days	4.52%	15.34%
12 Months	35.33%	53.01%

2 Overlapping Holdings

	Symbol	Grade	Weight in CBLS	Weight in PKB	Overlap
	SKY	A	2.73%	2.54%	2.54%
	STRL	B	2.54%	3.79%	2.54%

CBLS Overweight 61 Positions Relative to PKB

Symbol	Grade	Weight
NVDA	A	3.31%
LNG	A	3.31%
WTTR	A	3.07%
INTC	C	2.91%
AMZN	B	2.83%
GTLS	A	2.81%
MGNI	B	2.76%
WMT	A	2.75%
BWXT	B	2.7%
COST	A	2.64%
ORCL	A	2.62%
CCL	A	2.49%
RDDT	A	2.45%
OSW	B	2.43%
IBN	D	2.38%
ECL	D	2.32%
GD	D	2.32%
NARI	C	2.3%
RTX	D	2.29%
ROL	B	2.28%
D	C	2.24%
AER	B	2.24%
VST	A	2.23%
SO	C	2.23%
NEE	C	2.12%
ERJ	B	2.12%
HUMA	F	2.11%
SCHW	A	2.08%
MC	B	1.98%
ETR	A	1.93%
SCI	B	1.92%
DELL	C	1.91%
TDG	D	1.78%
CRSP	D	0.86%
KLG	D	-0.49%
KDP	D	-0.5%
POST	C	-0.5%
GIS	D	-0.51%
PEP	F	-0.51%
DOOO	F	-0.9%
TTC	F	-0.93%
R	B	-0.95%
GIII	F	-0.97%
PFE	F	-1.06%
SIG	C	-1.07%
JNJ	D	-1.1%
MRNA	F	-1.15%
MIDD	D	-1.16%
ROK	B	-1.17%
ENR	A	-1.19%
AME	A	-1.2%
NVO	D	-1.3%
LLY	F	-1.37%
F	C	-1.41%
DE	C	-1.45%
HELE	C	-1.71%
HSY	F	-1.75%
VSAT	F	-1.75%
GOGO	C	-1.77%
NOW	B	-1.8%
TSLA	B	-2.63%

CBLS Underweight 26 Positions Relative to PKB

Symbol	Grade	Weight
TT	A	-5.15%
MLM	B	-5.11%
CSL	C	-4.78%
AGX	B	-4.67%
NVR	D	-4.39%
USLM	B	-4.31%
PHM	D	-4.24%
LEN	D	-3.99%
DHI	D	-3.76%
PRIM	A	-3.42%
TILE	A	-3.32%
MDU	D	-3.25%
APOG	B	-3.06%
MTZ	A	-3.02%
KNF	B	-2.95%
TPC	C	-2.91%
EXP	B	-2.87%
LPX	B	-2.74%
TOL	B	-2.52%
SWX	A	-2.52%
MHO	D	-2.26%
KBH	D	-2.23%
MHK	D	-2.19%
TPH	D	-2.19%
MTH	D	-2.13%
GRBK	D	-2.12%