CEFS vs. CCEF ETF Comparison

Comparison of Exchange Listed Funds Trust ETF (CEFS) to Calamos CEF Income & Arbitrage ETF (CCEF)

CEFS

Exchange Listed Funds Trust ETF

CEFS Description

The investment seeks to provide capital appreciation and dividend income. The fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by normally investing at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities issued by closed-end funds (the "underlying funds"). The advisor expects to invest in underlying funds operated by a diversified group of closed-end fund managers ("underlying fund managers"). The fund normally invests in underlying funds that primarily pursue high yield opportunities.

Grade (RS Rating)

Last Trade

$22.15

Average Daily Volume

47,063

Number of Holdings ^*

105

* may have additional holdings in another (foreign) market

CCEF

Calamos CEF Income & Arbitrage ETF

CCEF Description

The fund is an actively managed exchange-traded fund (ETF) that seeks high current income and long-term capital appreciation by investing in unaffiliated closed-end funds that the fund's investment adviser, Calamos Advisors LLC, believes offer both attractive income opportunities as well as arbitrage opportunities resulting from such closed-end funds trading at attractive discounts. Under normal circumstances, the fund seeks to achieve its investment objectives by investing at least 80% of its net assets in U.S. and non-U.S. closed-end funds. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$28.53

Average Daily Volume

3,142

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CEFS	CCEF
30 Days	-0.64%	-0.15%
60 Days	0.77%	0.75%
90 Days	4.35%	4.77%
12 Months	29.02%

11 Overlapping Holdings

Symbol	Grade	Weight in CEFS	Weight in CCEF	Overlap
AOD	D	1.02%	2.96%	1.02%
ASGI	A	4.03%	2.79%	2.79%
DIAX	A	0.02%	1.96%	0.02%
EMO	A	1.04%	3.0%	1.04%
ETW	B	0.0%	2.74%	0.0%
IIF	D	0.0%	2.7%	0.0%
KYN	A	0.02%	3.44%	0.02%
NML	A	0.05%	2.17%	0.05%
NTG	A	1.07%	1.56%	1.07%
RA	C	0.21%	2.58%	0.21%
RMT	B	0.0%	0.94%	0.0%

CEFS Overweight 94 Positions Relative to CCEF

Symbol	Grade	Weight
BIGZ	A	12.12%
ASA	D	8.22%
BCAT	A	5.82%
ADX	A	5.52%
BFZ	D	5.03%
ENX	A	3.8%
PDX	A	3.35%
NQP	C	3.12%
GDV	B	3.0%
NXJ	D	3.0%
HQL	D	2.89%
EVM	C	2.23%
BSTZ	B	2.22%
BMEZ	D	2.16%
HQH	D	2.13%
GRX	D	1.86%
AFB	D	1.8%
VTN	A	1.76%
MHI	C	1.68%
TEAF	D	1.66%
LGI	D	1.56%
EDD	D	1.35%
VPV	C	1.25%
NFJ	B	1.2%
ECF	A	1.16%
FMN	D	1.1%
KSM	F	1.09%
LEO	D	1.03%
VGM	C	1.0%
PGZ	D	0.85%
JRI	A	0.84%
MAV	C	0.84%
NPFD	A	0.83%
NBH	D	0.76%
DMF	C	0.66%
IHD	D	0.65%
CEV	D	0.64%
GAM	B	0.58%
DSM	D	0.56%
CXE	D	0.47%
HYB	A	0.46%
VKQ	C	0.41%
BOE	B	0.39%
VCV	D	0.39%
IDE	A	0.32%
NDP	A	0.32%
DMB	D	0.3%
PCK	D	0.26%
VMO	D	0.23%
TWN	D	0.22%
PEO	A	0.22%
CPZ	C	0.22%
EOD	C	0.19%
GNT	C	0.18%
TTP	A	0.15%
FGB	A	0.13%
AGD	D	0.13%
MPA	D	0.11%
CMU	C	0.1%
CXH	A	0.09%
ERH	C	0.09%
MFD	C	0.08%
TYG	A	0.06%
GLO	C	0.05%
HEQ	C	0.03%
PNI	D	0.03%
IGA	A	0.03%
GLV	C	0.03%
MFM	D	0.02%
MUJ	D	0.02%
SBI	C	0.02%
GLQ	C	0.01%
MVT	D	0.01%
GF	F	0.01%
MUC	D	0.01%
BTT	C	0.01%
MYN	D	0.01%
NAC	D	0.01%
MXE	F	0.01%
BCV	A	0.01%
PFO	D	0.01%
NAN	C	0.0%
NMT	B	0.0%
MUE	C	0.0%
MIY	C	0.0%
BNY	D	0.0%
BHV	D	0.0%
NOM	C	0.0%
VFL	D	0.0%
NAZ	B	0.0%
BGY	D	0.0%
SWZ	D	0.0%
MHN	D	0.0%
PYN	D	0.0%

CEFS Underweight 28 Positions Relative to CCEF

Symbol	Grade	Weight
PDT	C	-4.18%
THQ	D	-3.72%
HTD	A	-3.15%
RQI	C	-3.02%
RIV	C	-3.02%
ERC	C	-2.99%
EXG	C	-2.96%
NBB	D	-2.95%
ASG	B	-2.73%
BDJ	B	-2.63%
BBN	D	-2.57%
IFN	D	-2.44%
FFC	D	-2.08%
CII	B	-2.01%
HIX	A	-2.01%
EVT	A	-1.92%
JQC	A	-1.89%
HFRO	F	-1.76%
EMF	D	-1.62%
JPC	A	-1.55%
BST	B	-1.51%
BME	D	-1.44%
BTO	A	-1.06%
JGH	B	-1.01%
EFT	A	-1.0%
ACP	A	-0.98%
CAF	C	-0.52%
TDF	D	-0.51%

CEFS: Top Represented Industries & Keywords

Industries: Asset Management Other

CCEF: Top Represented Industries & Keywords

Industries: Asset Management