CBLS vs. VCLT ETF Comparison

Comparison of Changebridge Capital Long/Short Equity ETF (CBLS) to Vanguard Long-Term Corporate Bond ETF (VCLT)

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

$24.66

Average Daily Volume

4,972

Number of Holdings ^*

* may have additional holdings in another (foreign) market

VCLT

Vanguard Long-Term Corporate Bond ETF

VCLT Description

The investment seeks to track the performance of a market-weighted corporate bond index with a long-term dollar-weighted average maturity. The fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 10+ Year Corporate Bond Index. This index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities greater than 10 years. All of the fund's investments will be selected through the sampling process, and at least 80% of the fund's assets will be invested in bonds included in the index.

Grade (RS Rating)

Last Trade

$75.43

Average Daily Volume

2,038,607

Number of Holdings ^*

341

* may have additional holdings in another (foreign) market

Performance

Period	CBLS	VCLT
30 Days	6.41%	0.42%
60 Days	10.85%	-3.00%
90 Days	15.38%	-1.31%
12 Months	18.47%	0.70%

13 Overlapping Holdings

Symbol	Grade	Weight in CBLS	Weight in VCLT	Overlap
AAPL	B	2.53%	0.04%	0.04%
AVGO	C	2.59%	0.04%	0.04%
AVY	A	-1.0%	0.02%	-1.0%
BXP	F	-0.92%	0.01%	-0.92%
ECL	A	2.11%	0.02%	0.02%
GD	A	1.76%	0.01%	0.01%
HOG	D	-1.0%	0.02%	-1.0%
IBM	D	-0.99%	0.02%	-0.99%
INTC	F	-0.96%	0.03%	-0.96%
LRCX	D	2.23%	0.02%	0.02%
MSFT	C	2.3%	0.01%	0.01%
NVDA	B	2.73%	0.03%	0.03%
RTX	A	1.81%	0.02%	0.02%

CBLS Overweight 57 Positions Relative to VCLT

Symbol	Grade	Weight
SKY	D	2.83%
STRL	B	2.78%
MU	B	2.73%
ASML	D	2.69%
RDFN	D	2.62%
MMYT	B	2.6%
TCOM	A	2.57%
HUMA	B	2.56%
TDG	A	2.41%
NU	C	2.33%
GTLS	B	2.3%
OSW	B	2.28%
TMDX	B	2.27%
INDI	F	2.26%
BLBD	C	2.21%
SN	A	2.21%
WTTR	B	2.17%
ERJ	B	2.16%
HLX	B	2.16%
PANW	B	2.11%
ICFI	C	2.08%
NARI	F	2.07%
TSM	B	2.03%
DKNG	D	2.01%
DXCM	D	1.99%
IBN	B	1.88%
BKNG	B	1.85%
FCX	B	1.8%
CHK	B	1.75%
FTI	B	1.66%
BBY	D	-0.67%
SIG	D	-0.74%
MIDD	F	-0.78%
CTVA	B	-0.8%
CWAN	D	-0.84%
TSLA	D	-0.91%
MPW	D	-0.94%
F	D	-0.94%
BC	D	-0.97%
DOOO	C	-0.98%
BX	D	-0.99%
CHH	F	-1.0%
ONON	D	-1.0%
APO	C	-1.0%
KKR	C	-1.02%
SOFI	F	-1.03%
EWBC	A	-1.06%
CMA	B	-1.08%
MTB	A	-1.09%
ZION	B	-1.1%
WAL	B	-1.11%
PAYX	D	-1.2%
ENR	C	-1.31%
UTHR	B	-1.37%
FIGS	D	-1.38%
LAD	D	-1.41%
BGFV	F	-1.45%

CBLS Underweight 328 Positions Relative to VCLT

Symbol	Grade	Weight
WIT	D	-0.21%
DELL	B	-0.11%
EQH	A	-0.09%
MDT	D	-0.08%
FITB	A	-0.07%
WY	F	-0.07%
FOXA	B	-0.07%
DD	A	-0.07%
CSCO	D	-0.07%
AXP	A	-0.06%
COST	B	-0.06%
HPQ	C	-0.06%
HCA	D	-0.06%
CARR	A	-0.06%
CAG	B	-0.05%
SCCO	B	-0.05%
BIIB	C	-0.05%
TAP	F	-0.05%
CRM	D	-0.05%
MS	A	-0.05%
AMZN	A	-0.05%
L	A	-0.04%
WBA	F	-0.04%
LIN	D	-0.04%
NXPI	A	-0.04%
DT	F	-0.04%
BHF	D	-0.04%
TJX	C	-0.04%
GPN	F	-0.04%
JNPR	D	-0.04%
NEM	B	-0.04%
HPE	D	-0.04%
GOOGL	B	-0.04%
BHP	D	-0.04%
ORCL	D	-0.04%
ORI	A	-0.03%
FTV	D	-0.03%
FANG	B	-0.03%
CFG	A	-0.03%
AAL	C	-0.03%
STE	D	-0.03%
WU	C	-0.03%
WRK	A	-0.03%
WM	B	-0.03%
NOV	D	-0.03%
MLM	C	-0.03%
OHI	B	-0.03%
LH	F	-0.03%
LEA	F	-0.03%
DG	D	-0.03%
CPT	B	-0.03%
PKG	D	-0.03%
PYPL	C	-0.03%
RPM	D	-0.03%
SPGI	C	-0.03%
CME	C	-0.03%
CF	F	-0.03%
RPRX	F	-0.03%
APD	C	-0.03%
AMT	D	-0.03%
AMAT	C	-0.03%
EBAY	D	-0.03%
DVN	B	-0.03%
MDLZ	B	-0.03%
MAR	D	-0.03%
ITW	D	-0.03%
CB	C	-0.03%
VLO	D	-0.03%
RJF	C	-0.03%
MUFG	D	-0.03%
VTRS	C	-0.03%
PSX	D	-0.03%
MPLX	A	-0.03%
ALLY	B	-0.03%
TMUS	B	-0.03%
CHTR	F	-0.03%
ABT	F	-0.03%
BMY	F	-0.03%
ABBV	D	-0.03%
WPC	C	-0.02%
PWR	B	-0.02%
PECO	D	-0.02%
SCHW	A	-0.02%
REGN	C	-0.02%
CHD	A	-0.02%
ZBH	D	-0.02%
STLD	D	-0.02%
FE	A	-0.02%
FMC	B	-0.02%
BAX	F	-0.02%
CMI	B	-0.02%
CL	A	-0.02%
CINF	D	-0.02%
OGS	C	-0.02%
LHX	A	-0.02%
O	B	-0.02%
IVZ	D	-0.02%
HRL	B	-0.02%
SBRA	A	-0.02%
TEL	C	-0.02%
AFG	C	-0.02%
CPB	B	-0.02%
VMI	B	-0.02%
XYL	A	-0.02%
WTRG	B	-0.02%
WHR	F	-0.02%
AJG	C	-0.02%
KSS	F	-0.02%
MKC	B	-0.02%
NWE	B	-0.02%
MSI	A	-0.02%
K	B	-0.02%
TCN	A	-0.02%
PAA	B	-0.02%
GWW	D	-0.02%
KLAC	A	-0.02%
EMN	A	-0.02%
ADI	A	-0.02%
ROK	F	-0.02%
PH	B	-0.02%
SYK	D	-0.02%
MOS	F	-0.02%
NDAQ	D	-0.02%
LNC	C	-0.02%
FIS	C	-0.02%
VRSK	B	-0.02%
EG	C	-0.02%
ES	B	-0.02%
STZ	D	-0.02%
OTIS	D	-0.02%
MCO	C	-0.02%
AFL	A	-0.02%
CCI	D	-0.02%
CP	D	-0.02%
NI	A	-0.02%
TXN	A	-0.02%
SWK	F	-0.02%
DHR	C	-0.02%
DE	B	-0.02%
TGT	D	-0.02%
HES	B	-0.02%
CVX	B	-0.02%
DOW	C	-0.02%
UPS	D	-0.02%
TSN	B	-0.02%
MPC	D	-0.02%
HAL	F	-0.02%
EPD	B	-0.02%
JNJ	F	-0.02%
PEP	B	-0.02%
ICE	C	-0.02%
PM	A	-0.02%
MA	D	-0.02%
WMT	C	-0.02%
NOC	B	-0.02%
MET	C	-0.02%
QCOM	B	-0.02%
GILD	F	-0.02%
CI	D	-0.02%
COP	C	-0.02%
PFE	D	-0.02%
XOM	B	-0.02%
AZN	A	-0.02%
HSBC	A	-0.02%
VOD	F	-0.02%
GSK	A	-0.02%
V	C	-0.02%
BAC	B	-0.02%
GE	A	-0.02%
HIW	B	-0.01%
FRT	B	-0.01%
AGO	D	-0.01%
AMH	B	-0.01%
EXR	D	-0.01%
BWA	B	-0.01%
AVA	B	-0.01%
APTV	D	-0.01%
DRI	F	-0.01%
ALB	C	-0.01%
INGR	A	-0.01%
IDA	B	-0.01%
EMR	C	-0.01%
MAA	B	-0.01%
LXP	D	-0.01%
OPI	C	-0.01%
JD	B	-0.01%
SIGI	F	-0.01%
EA	F	-0.01%
DOC	A	-0.01%
ADC	B	-0.01%
BEN	F	-0.01%
CACC	D	-0.01%
FNF	B	-0.01%
AES	B	-0.01%
PHM	B	-0.01%
PFG	C	-0.01%
PEG	A	-0.01%
VTR	B	-0.01%
OGE	A	-0.01%
ESS	A	-0.01%
MAS	D	-0.01%
RF	B	-0.01%
REG	F	-0.01%
EE	B	-0.01%
BKH	B	-0.01%
SWX	A	-0.01%
VOYA	B	-0.01%
SNA	D	-0.01%
DOV	A	-0.01%
KRC	F	-0.01%
EQIX	F	-0.01%
MDC	A	-0.01%
KIM	C	-0.01%
UDR	B	-0.01%
TT	A	-0.01%
UAL	B	-0.01%
MKL	A	-0.01%
HSY	B	-0.01%
IPG	D	-0.01%
KOF	B	-0.01%
EOG	B	-0.01%
CAH	F	-0.01%
WELL	A	-0.01%
WRB	D	-0.01%
PNW	B	-0.01%
PLD	D	-0.01%
SJM	F	-0.01%
RSG	C	-0.01%
PG	A	-0.01%
DTE	A	-0.01%
HIG	C	-0.01%
JEF	B	-0.01%
IFF	A	-0.01%
HAS	B	-0.01%
EVRG	B	-0.01%
ETN	A	-0.01%
AWK	B	-0.01%
AVB	A	-0.01%
UNM	B	-0.01%
WEC	B	-0.01%
EQR	A	-0.01%
ATO	A	-0.01%
AEP	A	-0.01%
AEE	C	-0.01%
AON	F	-0.01%
ZTS	D	-0.01%
SRE	B	-0.01%
PGR	A	-0.01%
VMC	C	-0.01%
NNN	B	-0.01%
NEE	B	-0.01%
NUE	F	-0.01%
KDP	B	-0.01%
HUM	F	-0.01%
EXC	B	-0.01%
CNP	B	-0.01%
CMS	A	-0.01%
LNT	B	-0.01%
OC	B	-0.01%
ACGL	A	-0.01%
XEL	C	-0.01%
SPG	C	-0.01%
WLK	B	-0.01%
PPL	A	-0.01%
GLW	B	-0.01%
JCI	B	-0.01%
EL	F	-0.01%
ALL	B	-0.01%
TRV	D	-0.01%
TMO	D	-0.01%
MMC	C	-0.01%
LLY	C	-0.01%
HON	C	-0.01%
JBLU	F	-0.01%
KR	B	-0.01%
FDX	D	-0.01%
D	B	-0.01%
CSX	D	-0.01%
EIX	A	-0.01%
ED	A	-0.01%
KMB	B	-0.01%
ETR	A	-0.01%
ADM	C	-0.01%
ARE	D	-0.01%
PRU	A	-0.01%
SBUX	F	-0.01%
IP	C	-0.01%
GIS	C	-0.01%
KMI	A	-0.01%
WMB	A	-0.01%
SHW	D	-0.01%
LYB	C	-0.01%
OKE	B	-0.01%
DUK	A	-0.01%
MRO	D	-0.01%
NSC	D	-0.01%
LOW	D	-0.01%
GM	B	-0.01%
BSX	B	-0.01%
CAT	D	-0.01%
AIG	A	-0.01%
LMT	A	-0.01%
ET	A	-0.01%
SO	A	-0.01%
SYY	D	-0.01%
MMM	B	-0.01%
NKE	D	-0.01%
MO	A	-0.01%
MCD	F	-0.01%
MRK	B	-0.01%
UNP	C	-0.01%
UNH	C	-0.01%
DIS	D	-0.01%
BABA	C	-0.01%
BDX	F	-0.01%
C	A	-0.01%
PCG	B	-0.01%
KO	A	-0.01%
JPM	B	-0.01%
HD	D	-0.01%
AMGN	B	-0.01%
CMCSA	D	-0.01%
VZ	D	-0.01%
WFC	A	-0.01%
BA	F	-0.01%
T	B	-0.01%
GS	A	-0.01%
CVS	F	-0.01%