CEFS vs. VRAI ETF Comparison

Comparison of Exchange Listed Funds Trust ETF (CEFS) to Virtus Real Asset Income ETF (VRAI)

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

$20.57

Average Daily Volume

45,400

Number of Holdings ^*

* may have additional holdings in another (foreign) market

VRAI

Virtus Real Asset Income ETF

VRAI Description

The investment seeks investment results that correspond the price and yield performance of the Indxx Real Asset Income Index (the "underlying index"). Under normal market conditions, the fund will invest not less than 80% of its assets in component securities of the underlying index. The underlying index is designed to track the performance of U.S.-listed "Real Asset" companies, as defined by Indxx, LLC, the index provider of the underlying index. The underlying index includes common stock, real estate investment trusts, master limited partnerships, American depositary receipts and global depositary receipts. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$23.85

Average Daily Volume

3,535

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CEFS	VRAI
30 Days	2.25%	-0.44%
60 Days	3.93%	1.94%
90 Days	7.39%	7.18%
12 Months	28.29%	5.81%

0 Overlapping Holdings

	Symbol	Grade	Weight in CEFS	Weight in VRAI	Overlap

CEFS Overweight 99 Positions Relative to VRAI

Symbol	Grade	Weight
BIGZ	D	19.26%
EMO	A	17.74%
ADX	A	12.02%
ASA	A	11.7%
CTR	A	9.23%
BCAT	B	8.96%
BFZ	B	7.81%
ENX	C	5.81%
ASGI	A	5.76%
PDX	A	5.33%
NQP	A	4.62%
NXJ	B	4.43%
JRI	A	3.68%
HQL	A	3.63%
BSTZ	D	3.5%
EVM	A	3.46%
HQH	A	3.31%
BMEZ	D	3.26%
EDD	C	3.1%
VTN	B	2.57%
MHI	A	2.44%
TEAF	B	2.41%
AFB	B	1.8%
VPV	A	1.8%
ECF	C	1.66%
KSM	A	1.65%
NFJ	C	1.64%
LGI	A	1.62%
FMN	A	1.59%
VGM	B	1.48%
NTG	A	1.46%
PGZ	C	1.43%
IDE	C	1.19%
NBH	B	1.1%
IHD	A	1.05%
CEV	A	1.0%
DMF	A	0.96%
LEO	A	0.95%
GAM	A	0.83%
MAV	B	0.83%
AOD	A	0.82%
HYB	A	0.65%
NZF	B	0.62%
VKQ	A	0.61%
IGA	B	0.59%
VCV	B	0.57%
CXE	A	0.51%
NDP	B	0.48%
NPFD	B	0.43%
CPZ	A	0.36%
DSM	B	0.35%
VMO	B	0.33%
TWN	D	0.32%
MFD	A	0.3%
GNT	A	0.26%
CMU	A	0.26%
RA	B	0.23%
FGB	A	0.21%
VKI	A	0.21%
TTP	A	0.19%
CXH	B	0.19%
MPA	C	0.18%
PCK	B	0.16%
BOE	A	0.12%
DMB	C	0.12%
ERH	A	0.12%
NML	A	0.11%
EOD	B	0.09%
FEI	A	0.08%
TYG	A	0.08%
SBI	B	0.07%
AGD	A	0.05%
GRX	C	0.04%
HEQ	A	0.04%
DIAX	C	0.03%
PNI	C	0.03%
NAC	A	0.02%
MYN	B	0.02%
KTF	A	0.02%
MXE	D	0.02%
DHF	A	0.02%
PEO	B	0.01%
NAD	B	0.01%
MHN	B	0.01%
MUC	C	0.01%
NOM	B	0.0%
GLQ	A	0.0%
FPL	A	0.0%
NVG	B	0.0%
PFO	A	0.0%
NMT	B	0.0%
MIY	D	0.0%
MVT	C	0.0%
BNY	A	0.0%
BHV	C	0.0%
NAZ	B	0.0%
MUJ	D	0.0%
NAN	B	0.0%
FLC	A	0.0%

CEFS Underweight 80 Positions Relative to VRAI

Symbol	Grade	Weight
ARLP	C	-1.28%
CWEN	B	-1.27%
NEP	C	-1.25%
CIG	C	-1.24%
SCCO	A	-1.23%
AVA	B	-1.22%
IIPR	C	-1.21%
PBR	A	-1.21%
GFI	B	-1.2%
CPT	B	-1.18%
AEP	A	-1.18%
NI	A	-1.17%
NJR	B	-1.17%
CMS	A	-1.16%
EPRT	A	-1.16%
ADC	B	-1.15%
FANG	B	-1.15%
DVN	C	-1.15%
BSM	B	-1.15%
GGB	C	-1.15%
EC	C	-1.15%
SBSW	D	-1.14%
EOG	C	-1.14%
CTRA	B	-1.14%
LNT	B	-1.14%
OGS	C	-1.14%
BRY	C	-1.13%
KRP	C	-1.13%
PAGP	B	-1.13%
WEC	B	-1.13%
EXR	C	-1.12%
VALE	C	-1.12%
WES	A	-1.12%
PNM	C	-1.12%
EQNR	C	-1.12%
SBR	C	-1.11%
BNL	B	-1.11%
EPR	C	-1.11%
NRP	C	-1.11%
MAA	B	-1.11%
PAA	B	-1.11%
ES	B	-1.11%
AAT	B	-1.1%
CCOI	F	-1.1%
OVV	D	-1.1%
IVT	C	-1.1%
COP	D	-1.1%
GPRK	B	-1.09%
ENIC	B	-1.09%
REG	D	-1.08%
KIM	B	-1.08%
SITC	D	-1.08%
INVH	B	-1.08%
HESM	C	-1.07%
ROIC	D	-1.07%
BRX	B	-1.07%
FDP	F	-1.07%
CUBE	D	-1.06%
ORAN	D	-1.06%
NSA	C	-1.06%
SKT	D	-1.05%
PSA	C	-1.04%
CCI	D	-1.03%
OUT	D	-1.03%
AMT	D	-1.03%
KT	D	-1.01%
DMLP	D	-1.01%
FR	D	-1.0%
PTEN	D	-1.0%
RHP	D	-0.99%
HST	D	-0.99%
EGP	D	-0.98%
APLE	D	-0.98%
REXR	D	-0.96%
TS	D	-0.95%
TRNO	D	-0.95%
APA	F	-0.95%
NFE	F	-0.95%
SID	F	-0.95%
SPOK	F	-0.94%

CEFS: Top Represented Industries & Keywords

Industries: Asset Management Other