CLSE vs. DFND ETF Comparison

Comparison of Convergence Long/Short Equity ETF (CLSE) to Realty Shares DIVCON Dividend Defender ETF (DFND)

CLSE

Convergence Long/Short Equity ETF

CLSE Description

The investment seeks long-term capital growth. The fund seeks to invest, under normal market conditions, at least 80% of its net assets (plus any borrowings for investment purposes) in long and short positions in equity securities of domestic companies. The adviser intends to maintain a net long exposure (the market value of long positions minus the market value of short positions) of approximately 50% to 100%. Under normal market conditions, the fund’s long positions may range from approximately 90% to 150% and its short positions may range from approximately 20% to 70%.

Grade (RS Rating)

Last Trade

$22.11

Average Daily Volume

53,246

Number of Holdings ^*

326

* may have additional holdings in another (foreign) market

DFND

Realty Shares DIVCON Dividend Defender ETF

DFND Description

The investment seeks long-term capital appreciation by tracking the performance, before fees and expenses, of the Reality Shares DIVCON Dividend Defender Index. The index is designed to select the companies for a long position that have the highest probability of increasing their dividend in a 12-month period and select the companies for a short position that have the highest probability of decreasing their dividend in a 12-month period. Under normal circumstances, at least 80% of the fund's assets (other than collateral held from securities lending, if any) will be invested in component securities of the benchmark index. It is non-diversified.

Grade (RS Rating)

Last Trade

$42.13

Average Daily Volume

388

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CLSE	DFND
30 Days	2.69%	10.96%
60 Days	4.00%	7.32%
90 Days	2.60%	13.77%
12 Months	38.92%	16.62%

23 Overlapping Holdings

Symbol	Grade	Weight in CLSE	Weight in DFND	Overlap
AAPL	C	2.26%	0.94%	0.94%
ALB	F	-0.26%	0.88%	-0.26%
AVGO	C	2.58%	0.84%	0.84%
CSCO	B	-0.27%	1.3%	-0.27%
D	B	-0.34%	-3.05%	-3.05%
DVN	D	0.35%	-1.16%	-1.16%
FCX	D	0.38%	-1.82%	-1.82%
FDS	C	-0.23%	2.0%	-0.23%
HSY	D	-0.28%	1.53%	-0.28%
INTC	F	-0.93%	-0.85%	-0.93%
J	C	0.36%	1.46%	0.36%
KLAC	D	0.47%	2.79%	0.47%
LMT	B	0.54%	2.19%	0.54%
LUV	C	-0.21%	-1.85%	-1.85%
LW	D	-0.29%	0.91%	-0.29%
MCHP	D	-0.5%	0.1%	-0.5%
MPC	D	0.74%	2.18%	0.74%
MSFT	C	1.12%	1.02%	1.02%
PG	C	0.81%	2.39%	0.81%
ROK	F	-0.08%	1.5%	-0.08%
SW	C	-0.23%	-1.93%	-1.93%
T	C	1.03%	-2.15%	-2.15%
VFC	C	-0.12%	-0.94%	-0.94%

CLSE Overweight 303 Positions Relative to DFND

Symbol	Grade	Weight
NVDA	D	4.12%
META	A	3.15%
GOOGL	D	2.93%
QCOM	F	2.58%
AMZN	C	2.5%
WMT	B	2.07%
APP	B	2.04%
ANET	A	1.86%
IBM	A	1.7%
CVLT	B	1.64%
NTAP	D	1.64%
GDDY	C	1.58%
CVNA	B	1.53%
HPE	D	1.52%
GOOG	D	1.22%
ORCL	B	1.22%
DOCU	C	1.21%
HD	A	1.17%
ACIW	B	1.12%
ABBV	C	1.04%
HALO	C	1.03%
MU	F	1.02%
GILD	B	0.98%
AMG	C	0.98%
PYPL	B	0.98%
JNJ	C	0.96%
SNEX	B	0.95%
OGN	D	0.92%
JHG	B	0.92%
NTRS	B	0.91%
AVT	C	0.88%
UHS	B	0.87%
SYF	C	0.86%
THC	B	0.85%
AMRX	B	0.85%
NTNX	C	0.84%
DVA	B	0.82%
EME	A	0.81%
SEIC	C	0.81%
MO	C	0.81%
BAC	D	0.81%
VLO	F	0.79%
JPM	D	0.77%
MLI	B	0.75%
FTDR	B	0.75%
CNC	C	0.73%
BG	D	0.72%
PPC	D	0.72%
JXN	B	0.72%
MCK	F	0.71%
UMBF	B	0.71%
IDCC	B	0.7%
RF	B	0.69%
CHRW	A	0.66%
IIPR	B	0.65%
IESC	C	0.63%
OSCR	C	0.63%
GVA	B	0.63%
NEM	B	0.62%
FITB	B	0.61%
CAH	C	0.61%
STRL	B	0.6%
VRT	C	0.59%
MUSA	D	0.59%
TSLA	C	0.59%
XOM	D	0.58%
CFG	C	0.57%
TSN	D	0.57%
UNP	C	0.57%
PATK	A	0.55%
WFC	D	0.55%
AMGN	B	0.55%
PNW	B	0.55%
PGR	A	0.55%
NEE	C	0.55%
MTZ	B	0.54%
GM	B	0.54%
PRIM	B	0.54%
AVA	C	0.54%
MET	A	0.54%
NRG	A	0.54%
SLVM	A	0.53%
MWA	B	0.53%
HRB	C	0.53%
EXPE	C	0.53%
RGA	B	0.53%
VST	A	0.53%
MRK	D	0.53%
RTX	C	0.51%
CVX	D	0.51%
FDX	F	0.5%
BMY	C	0.49%
ADMA	B	0.49%
CNA	D	0.49%
NSA	B	0.48%
LNTH	D	0.46%
EEFT	D	0.45%
EQR	C	0.44%
RGLD	B	0.43%
REZI	D	0.43%
ACT	B	0.42%
SPG	A	0.41%
LAMR	A	0.41%
KMB	D	0.4%
SAIC	C	0.4%
MRO	C	0.39%
SCCO	D	0.39%
LDOS	B	0.38%
CTRE	C	0.36%
BCO	A	0.36%
GRMN	D	0.35%
KNF	B	0.35%
ABM	D	0.34%
TOL	B	0.34%
CAT	B	0.33%
STAG	D	0.33%
GLW	B	0.32%
JLL	B	0.32%
ALSN	B	0.32%
ANF	D	0.32%
NFLX	B	0.31%
SM	D	0.31%
VTRS	D	0.31%
EXP	B	0.31%
NVR	B	0.3%
IBP	D	0.27%
CPNG	A	0.26%
BKNG	B	0.25%
CCL	C	0.24%
KR	C	0.17%
ADUS	C	0.15%
SPOT	B	0.13%
ALNY	C	0.12%
NTRA	B	0.12%
MHO	B	0.1%
QQQ	C	0.0%
JOBY	F	-0.04%
CAR	F	-0.05%
CRNX	C	-0.05%
MRNA	F	-0.06%
COLD	D	-0.08%
ALIT	D	-0.08%
FOXF	D	-0.08%
AES	C	-0.08%
AGL	F	-0.09%
NXST	D	-0.09%
VAC	F	-0.1%
DRVN	C	-0.1%
HGV	D	-0.1%
WOR	F	-0.1%
AWR	B	-0.1%
WTW	C	-0.1%
MCW	F	-0.1%
VMC	D	-0.11%
HHH	C	-0.11%
CC	F	-0.11%
ACVA	B	-0.11%
DRI	B	-0.11%
TXG	D	-0.11%
VAL	F	-0.12%
AAL	D	-0.12%
PGNY	F	-0.12%
AA	D	-0.12%
CGON	C	-0.12%
BC	C	-0.13%
VSAT	F	-0.14%
PPBI	D	-0.14%
CHK	D	-0.15%
RBLX	B	-0.15%
EXR	B	-0.15%
AESI	C	-0.15%
PYCR	D	-0.15%
CG	D	-0.15%
DAY	D	-0.15%
MTN	D	-0.15%
UHAL	B	-0.16%
CLDX	C	-0.16%
PCH	C	-0.16%
WTRG	D	-0.16%
BIRK	F	-0.16%
KRG	C	-0.16%
ILMN	C	-0.16%
WAL	B	-0.16%
UEC	D	-0.17%
VNO	B	-0.17%
GTLS	F	-0.17%
SJM	C	-0.17%
ENOV	F	-0.18%
KNSL	C	-0.18%
XPO	D	-0.18%
HI	F	-0.18%
BE	F	-0.19%
BANC	B	-0.19%
CZR	C	-0.19%
FCNCA	D	-0.19%
WY	C	-0.19%
CNH	D	-0.19%
LAD	C	-0.19%
COTY	F	-0.2%
COLB	B	-0.2%
TMDX	C	-0.2%
CINF	C	-0.2%
EL	F	-0.2%
TFC	D	-0.2%
LKQ	F	-0.2%
AVAV	C	-0.2%
WOLF	F	-0.2%
AJG	D	-0.21%
GPOR	D	-0.21%
SOFI	C	-0.21%
BX	B	-0.21%
RNR	B	-0.22%
SHC	C	-0.22%
IRTC	F	-0.22%
CNX	A	-0.22%
DXCM	F	-0.22%
RBA	C	-0.22%
WBA	F	-0.22%
CIEN	C	-0.22%
AEIS	D	-0.23%
TTD	B	-0.23%
WTM	D	-0.23%
IPAR	D	-0.23%
XYL	D	-0.23%
DLTR	F	-0.23%
PTEN	F	-0.24%
SUM	D	-0.24%
BIO	C	-0.24%
OKE	B	-0.24%
AGCO	D	-0.24%
MS	C	-0.25%
VSH	F	-0.25%
WAT	C	-0.25%
AL	D	-0.26%
APD	B	-0.26%
SITE	D	-0.26%
FLYW	F	-0.26%
EQT	D	-0.26%
WSC	D	-0.26%
VVV	D	-0.27%
GT	F	-0.27%
HASI	C	-0.27%
CELH	F	-0.28%
NEOG	D	-0.29%
GMED	D	-0.29%
APLS	F	-0.29%
FIVN	F	-0.3%
MNST	D	-0.31%
O	C	-0.31%
INSP	C	-0.31%
RVMD	C	-0.32%
ENPH	D	-0.32%
PEN	D	-0.32%
REGN	C	-0.32%
FOUR	C	-0.33%
SRE	B	-0.33%
EVTC	F	-0.33%
RGEN	F	-0.33%
EXAS	C	-0.34%
IAC	C	-0.34%
TOST	A	-0.34%
LPLA	F	-0.35%
MARA	F	-0.35%
ZI	D	-0.36%
ADBE	F	-0.36%
GE	A	-0.36%
LVS	D	-0.36%
ON	F	-0.36%
KLIC	F	-0.36%
LYV	B	-0.36%
AFRM	C	-0.36%
NDAQ	A	-0.36%
WBD	D	-0.38%
RIOT	F	-0.38%
BBIO	D	-0.38%
BA	F	-0.38%
PATH	D	-0.39%
SATS	C	-0.4%
BRZE	F	-0.4%
MKTX	C	-0.4%
RIVN	F	-0.41%
CCOI	C	-0.43%
CGNX	D	-0.43%
FIVE	D	-0.45%
TTWO	D	-0.47%
ZBRA	B	-0.48%
C	D	-0.48%
GLOB	D	-0.48%
GFS	F	-0.48%
LSCC	D	-0.5%
MDB	D	-0.5%
CFLT	F	-0.5%
BILL	D	-0.5%
DV	F	-0.5%
POOL	D	-0.54%
SMCI	F	-0.55%
RH	B	-0.56%
WDC	D	-0.58%
LBRDK	F	-0.58%
FND	C	-0.59%
U	D	-0.6%
LITE	B	-0.69%
TXN	C	-0.85%

CLSE Underweight 47 Positions Relative to DFND

Symbol	Grade	Weight
V	C	-2.52%
CTAS	C	-2.5%
VRSK	D	-2.33%
SHW	B	-2.2%
MCD	B	-2.19%
NDSN	C	-2.18%
PHM	B	-2.12%
SNA	C	-2.09%
MPWR	C	-2.07%
BRO	C	-2.01%
GWW	A	-1.94%
MCO	A	-1.86%
PPG	D	-1.82%
CMI	C	-1.73%
DHI	C	-1.72%
MSI	B	-1.69%
MA	B	-1.68%
AMAT	D	-1.59%
ITW	C	-1.59%
ALLE	C	-1.51%
ETN	C	-1.48%
ADI	C	-1.45%
CB	B	-1.42%
AON	B	-1.42%
CBOE	C	-1.35%
HON	D	-1.31%
MMC	C	-1.28%
LIN	B	-1.26%
MSCI	C	-1.24%
CME	C	-1.22%
AOS	D	-1.21%
COST	B	-1.2%
HUBB	A	-1.16%
CMCSA	D	-1.05%
FAST	C	-0.97%
GL	C	-0.89%
ODFL	D	-0.77%
INTU	C	-0.73%
MLM	D	-0.71%
BR	D	-0.7%
ACN	C	-0.33%
PARA	F	--0.31%
APA	F	--0.87%
NWS	D	--1.69%
IP	C	--1.98%
F	F	--2.34%
CNP	D	--2.38%