CBLS vs. PTF ETF Comparison

Comparison of Changebridge Capital Long/Short Equity ETF (CBLS) to PowerShares Dynamic Technology (PTF)

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

$22.58

Average Daily Volume

4,181

Number of Holdings ^*

* may have additional holdings in another (foreign) market

PTF

PowerShares Dynamic Technology

PTF Description

The PowerShares Dynamic Technology Sector Portfolio (Fund) is based on the Dynamic Technology Sector 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 stocks of 60 US technology companies. These companies are principally engaged in the business of providing technology-related products and services, including computer hardware and software, Internet, electronics and semiconductors, and communication technologies. The Fund and the Index are rebalanced and reconstituted quarterly in February, May, August and November.

Grade (RS Rating)

Last Trade

$51.12

Average Daily Volume

26,455

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CBLS	PTF
30 Days	-0.93%	-10.49%
60 Days	3.86%	-5.65%
90 Days	9.27%	1.59%
12 Months	8.91%	21.34%

3 Overlapping Holdings

Symbol	Grade	Weight in CBLS	Weight in PTF	Overlap
AVGO	B	1.98%	4.25%	1.98%
LRCX	B	1.98%	2.7%	1.98%
MSFT	B	2.3%	3.37%	2.3%

CBLS Overweight 77 Positions Relative to PTF

Symbol	Grade	Weight
FCX	A	2.98%
TMDX	A	2.5%
ERJ	A	2.44%
FANG	A	2.41%
SKY	C	2.34%
RTX	A	2.31%
BA	F	2.28%
GD	A	2.25%
DXCM	A	2.23%
BLBD	B	2.21%
TCOM	A	2.21%
FTI	A	2.2%
NFE	F	2.19%
DKNG	B	2.19%
CHK	A	2.17%
RIG	B	2.16%
EG	D	2.16%
NU	D	2.16%
GTLS	A	2.13%
IBN	B	2.13%
ECL	C	2.12%
WTTR	A	2.1%
STRL	B	2.09%
ICFI	C	2.07%
MU	A	2.03%
CCL	D	2.02%
PANW	B	2.01%
ASML	D	1.97%
NARI	F	1.93%
BKNG	C	1.91%
TDG	B	1.85%
NOC	B	1.84%
HUMA	B	1.79%
SCHW	A	1.77%
MMYT	B	1.73%
SN	A	1.72%
BOWL	D	1.71%
HLX	A	1.69%
F	B	-0.44%
GM	A	-0.46%
RH	F	-0.47%
DECK	D	-0.48%
LULU	D	-0.48%
WSM	A	-0.5%
BBY	B	-0.51%
CMG	A	-0.51%
LAD	D	-0.55%
AAL	D	-0.63%
YETI	F	-0.7%
AVY	C	-0.81%
ROK	D	-0.84%
MTB	B	-0.84%
EWBC	C	-0.85%
ENR	D	-0.86%
PAYX	B	-0.88%
ZION	B	-0.9%
WAL	B	-0.9%
CMA	A	-0.91%
TECH	F	-0.95%
GPS	D	-0.96%
MPW	B	-0.98%
CHH	C	-0.98%
DOOO	B	-1.01%
SEDG	F	-1.05%
ENPH	F	-1.06%
HOG	B	-1.07%
BALL	A	-1.1%
HELE	F	-1.14%
PGNY	D	-1.15%
POOL	D	-1.2%
BXP	D	-1.26%
BC	D	-1.27%
UTHR	A	-1.29%
BGFV	F	-1.36%
SOFI	F	-1.8%
TSLA	F	-1.93%
IBM	C	-1.94%

CBLS Underweight 35 Positions Relative to PTF

Symbol	Grade	Weight
NVDA	B	-4.78%
CDNS	C	-4.6%
APP	A	-4.29%
KLAC	C	-4.29%
DELL	A	-4.22%
NTNX	B	-3.84%
ANET	D	-3.83%
FICO	D	-3.73%
SNPS	D	-3.39%
IT	C	-3.17%
PLTR	D	-3.06%
CRWD	D	-2.86%
PSTG	B	-2.61%
NET	D	-2.5%
AMD	D	-2.46%
HUBS	A	-2.46%
ONTO	B	-2.43%
MANH	D	-2.26%
PI	A	-2.22%
ENTG	D	-2.22%
TTD	B	-2.18%
SOUN	D	-2.17%
MPWR	D	-2.16%
OKTA	D	-2.03%
IOT	D	-1.9%
CRDO	F	-1.79%
APPF	D	-1.67%
VRNS	D	-1.51%
IDCC	B	-1.49%
ALTR	C	-1.47%
CDLX	B	-1.33%
VERX	B	-1.29%
ALKT	C	-1.19%
PUBM	A	-1.14%
BASE	D	-1.07%