CLSE vs. INRO ETF Comparison

Comparison of Convergence Long/Short Equity ETF (CLSE) to BlackRock U.S. Industry Rotation ETF (INRO)

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

$23.59

Average Daily Volume

65,624

Number of Holdings ^*

337

* may have additional holdings in another (foreign) market

INRO

BlackRock U.S. Industry Rotation ETF

INRO Description

INRO is targeted US equity exposure, actively managed by shifting the selection and weighting of the portfolio towards industries among the broad domestic market. Portfolio allocation is based on five potential sources of return: information regarding the current economic cycle, valuation, quality metrics, analyst expectation data and recent individual industry trends. The strategy aims to capture the potential alpha from the dispersion between industry allocations and the broad market. During temporary defensive periods, the fund may depart from this principal investment strategy to invest 100% of the portfolio in liquid, short-term securities. The fund may engage in active and frequent trading. Derivatives may also be used to seek returns or hedge exposure. Up to one-third of the value of the funds assets may be lending.

Grade (RS Rating)

Last Trade

$28.35

Average Daily Volume

3,544

Number of Holdings ^*

423

* may have additional holdings in another (foreign) market

Performance

Period	CLSE	INRO
30 Days	4.18%	2.86%
60 Days	7.10%	5.93%
90 Days	9.38%	6.63%
12 Months	39.93%

121 Overlapping Holdings

Symbol	Grade	Weight in CLSE	Weight in INRO	Overlap
AAPL	C	0.83%	5.57%	0.83%
ABBV	F	0.72%	0.4%	0.4%
AES	F	-0.08%	0.03%	-0.08%
AJG	A	-0.17%	0.09%	-0.17%
ALL	A	0.45%	0.08%	0.08%
AMZN	C	2.53%	1.46%	1.46%
APA	D	0.25%	0.01%	0.01%
APD	A	-0.15%	0.01%	-0.15%
APH	A	0.67%	0.19%	0.19%
APO	B	-0.35%	0.01%	-0.35%
APP	B	2.25%	0.08%	0.08%
ATO	A	-0.1%	0.05%	-0.1%
AVGO	D	2.28%	1.64%	1.64%
BA	F	-0.4%	0.04%	-0.4%
BAC	A	0.81%	0.79%	0.79%
BAH	F	0.18%	0.06%	0.06%
BEN	C	-0.36%	0.03%	-0.36%
BMY	B	1.11%	0.12%	0.12%
C	A	-0.19%	0.34%	-0.19%
CDNS	B	-0.46%	0.12%	-0.46%
CINF	A	0.12%	0.04%	0.04%
CNH	C	-0.18%	0.02%	-0.18%
CRL	D	-0.15%	0.02%	-0.15%
DAY	B	-0.14%	0.03%	-0.14%
DELL	B	-0.25%	0.07%	-0.25%
DG	F	-0.4%	0.01%	-0.4%
DLR	B	-0.13%	0.07%	-0.13%
DLTR	F	-0.41%	0.01%	-0.41%
DOCU	B	1.37%	0.02%	0.02%
EME	A	0.75%	0.19%	0.19%
ENPH	F	-0.11%	0.02%	-0.11%
EQIX	A	-0.14%	0.1%	-0.14%
EQR	C	0.35%	0.01%	0.01%
EQT	B	-0.23%	0.04%	-0.23%
EXAS	D	-0.07%	0.01%	-0.07%
EXPD	C	0.14%	0.0%	0.0%
EXR	C	-0.13%	0.04%	-0.13%
FCNCA	A	-0.35%	0.05%	-0.35%
FITB	B	0.78%	0.08%	0.08%
FSLR	F	-1.26%	0.04%	-1.26%
GDDY	A	1.42%	0.01%	0.01%
GE	D	-0.46%	0.08%	-0.46%
GEN	B	0.68%	0.03%	0.03%
GILD	C	1.07%	0.16%	0.16%
GLW	B	0.52%	0.09%	0.09%
GM	C	0.87%	0.09%	0.09%
GOOG	C	0.49%	2.71%	0.49%
GOOGL	C	3.47%	3.12%	3.12%
GRMN	B	0.37%	0.22%	0.22%
HD	B	1.13%	1.16%	1.13%
HPE	B	1.92%	0.05%	0.05%
ILMN	C	0.1%	0.03%	0.03%
INCY	C	0.07%	0.02%	0.02%
INTC	C	-0.93%	0.22%	-0.93%
J	D	0.31%	0.04%	0.04%
JNJ	C	0.83%	0.36%	0.36%
JPM	A	0.64%	1.68%	0.64%
KEY	B	-0.25%	0.05%	-0.25%
KNX	C	-0.06%	0.04%	-0.06%
KR	B	0.17%	0.05%	0.05%
LDOS	C	0.55%	0.06%	0.06%
LNG	A	0.97%	0.09%	0.09%
LPLA	A	-0.34%	0.07%	-0.34%
LRCX	F	0.0%	0.21%	0.0%
MCHP	F	-0.63%	0.08%	-0.63%
MDB	B	-0.29%	0.01%	-0.29%
MET	A	0.52%	0.08%	0.08%
META	D	3.3%	3.77%	3.3%
MKL	A	-0.14%	0.04%	-0.14%
MKTX	D	-0.29%	0.03%	-0.29%
MLM	C	-0.13%	0.59%	-0.13%
MO	A	0.79%	0.39%	0.39%
MPWR	F	0.3%	0.06%	0.06%
MRNA	F	-0.47%	0.02%	-0.47%
MSCI	C	-0.27%	0.15%	-0.27%
MU	D	2.13%	0.25%	0.25%
NDAQ	A	-0.3%	0.12%	-0.3%
NEM	D	0.22%	0.11%	0.11%
NRG	B	0.71%	0.12%	0.12%
NSC	B	-0.1%	0.23%	-0.1%
NTAP	C	1.0%	0.04%	0.04%
NTRS	A	1.08%	0.08%	0.08%
NVDA	B	4.61%	7.42%	4.61%
NVR	D	0.24%	0.22%	0.22%
ON	D	-0.39%	0.06%	-0.39%
ORCL	A	1.33%	0.44%	0.44%
PGR	A	0.46%	0.23%	0.23%
PINS	F	-0.41%	0.05%	-0.41%
PLTR	B	1.02%	0.17%	0.17%
PNC	B	0.72%	0.2%	0.2%
PRU	A	0.13%	0.07%	0.07%
PSA	C	-0.23%	0.07%	-0.23%
PYPL	B	1.33%	0.01%	0.01%
QCOM	F	1.73%	0.39%	0.39%
RF	A	0.72%	0.07%	0.07%
RIVN	F	-0.42%	0.01%	-0.42%
ROP	B	-0.7%	0.09%	-0.7%
SEIC	B	0.95%	0.02%	0.02%
SMCI	F	-0.47%	0.02%	-0.47%
SNPS	B	-0.44%	0.12%	-0.44%
STLD	B	-0.13%	0.01%	-0.13%
SW	A	-0.17%	0.12%	-0.17%
SYF	B	1.11%	0.18%	0.18%
TEAM	A	-0.27%	0.06%	-0.27%
TMUS	B	0.7%	4.59%	0.7%
TSLA	B	1.22%	1.32%	1.22%
TXN	C	-0.81%	0.41%	-0.81%
UHAL	D	-0.16%	0.02%	-0.16%
UNP	C	0.47%	0.55%	0.47%
UTHR	C	0.73%	0.02%	0.02%
VLO	C	0.29%	0.08%	0.08%
VMC	B	-0.13%	0.61%	-0.13%
VRT	B	0.68%	0.14%	0.14%
VRTX	D	0.23%	0.17%	0.17%
VST	A	0.55%	0.17%	0.17%
WDC	D	-0.65%	0.04%	-0.65%
WFC	A	0.75%	0.62%	0.62%
WMT	A	1.82%	0.41%	0.41%
WST	C	-0.59%	0.03%	-0.59%
XYL	D	-0.23%	0.06%	-0.23%
ZBRA	B	-0.34%	0.04%	-0.34%

CLSE Overweight 216 Positions Relative to INRO

Symbol	Grade	Weight
CVNA	B	1.85%
ANET	C	1.83%
IDCC	B	1.51%
CVLT	B	1.4%
ACIW	B	1.3%
JHG	B	1.21%
NTNX	B	1.16%
SNEX	B	1.06%
HALO	F	0.9%
AMRX	C	0.9%
BFH	C	0.88%
COR	B	0.86%
CAH	B	0.86%
PPC	C	0.85%
GVA	A	0.84%
MLI	B	0.84%
CARG	B	0.83%
PRIM	A	0.8%
NFLX	A	0.79%
THC	D	0.78%
DVA	C	0.78%
IESC	C	0.77%
CPNG	D	0.77%
CNX	A	0.74%
FTI	A	0.74%
STRL	A	0.71%
ZION	B	0.71%
CMA	B	0.71%
UHS	D	0.7%
CEIX	A	0.7%
UMBF	B	0.66%
ALSN	B	0.66%
MTZ	B	0.66%
AVT	C	0.66%
MWA	B	0.65%
BLK	B	0.65%
CHRW	B	0.61%
EXPE	B	0.61%
TSN	B	0.6%
FFIV	B	0.6%
FTDR	B	0.58%
AMG	B	0.58%
RGA	A	0.55%
SLVM	B	0.5%
UI	B	0.49%
EXP	B	0.48%
CACI	D	0.48%
PNW	A	0.48%
AVA	A	0.47%
DUOL	A	0.45%
PG	C	0.45%
BKNG	A	0.44%
LPX	B	0.43%
CTRE	C	0.42%
SCCO	F	0.41%
RMD	C	0.4%
JXN	C	0.39%
SR	A	0.38%
R	B	0.38%
SPG	A	0.37%
CNA	C	0.37%
CF	A	0.37%
OUT	A	0.36%
CCL	A	0.35%
CDP	C	0.34%
RGLD	C	0.32%
CNC	D	0.31%
PTON	A	0.31%
LAMR	C	0.31%
CVS	D	0.29%
T	A	0.29%
MDT	D	0.29%
IIPR	D	0.28%
MATX	C	0.22%
TOL	B	0.22%
EEFT	B	0.22%
FLR	B	0.21%
JLL	D	0.2%
MUSA	B	0.2%
ABM	B	0.19%
NTRA	A	0.17%
BOX	B	0.17%
JAZZ	B	0.16%
FOXA	A	0.14%
FN	C	0.13%
VCTR	B	0.12%
VCYT	B	0.12%
CDE	C	0.11%
AEIS	C	0.07%
HQY	A	0.07%
QQQ	B	0.0%
LNTH	D	0.0%
PENN	C	-0.05%
HGV	C	-0.06%
HUN	F	-0.07%
RYN	D	-0.07%
COOP	B	-0.07%
CCS	D	-0.07%
BC	C	-0.08%
JOE	F	-0.08%
FLYW	B	-0.08%
GNTX	C	-0.09%
JBLU	F	-0.09%
MCW	C	-0.1%
ABG	C	-0.1%
ACVA	B	-0.11%
CGON	F	-0.11%
EL	F	-0.12%
RBA	A	-0.12%
FL	F	-0.12%
PCH	F	-0.12%
AVAV	C	-0.13%
ALIT	C	-0.13%
BPOP	C	-0.14%
PYCR	B	-0.14%
REXR	F	-0.14%
ARWR	D	-0.14%
AA	A	-0.14%
CZR	F	-0.15%
COLD	D	-0.15%
GTLS	A	-0.15%
RNR	C	-0.15%
DRVN	B	-0.15%
NARI	C	-0.16%
FIVN	C	-0.16%
BHF	C	-0.16%
XPO	B	-0.16%
OSK	C	-0.16%
LGIH	F	-0.16%
DAR	C	-0.16%
ALB	B	-0.16%
AGO	B	-0.16%
EW	C	-0.16%
SITE	F	-0.16%
TEX	F	-0.17%
TREX	C	-0.17%
MDGL	B	-0.17%
LKQ	F	-0.17%
MASI	B	-0.17%
KRG	B	-0.17%
ENOV	C	-0.18%
CHDN	B	-0.18%
UEC	B	-0.18%
EBC	B	-0.18%
AGCO	D	-0.18%
COTY	F	-0.18%
AL	B	-0.18%
BRKR	D	-0.18%
WAL	B	-0.19%
AIR	B	-0.19%
KNSL	B	-0.2%
SRE	A	-0.2%
GATX	A	-0.2%
BIRK	D	-0.2%
BE	B	-0.21%
AESI	B	-0.21%
NOG	B	-0.21%
WTM	A	-0.21%
PRCT	B	-0.22%
BANC	B	-0.22%
MTN	C	-0.22%
SAIA	B	-0.22%
SUM	B	-0.22%
WTRG	B	-0.24%
ELF	C	-0.24%
IONS	F	-0.24%
GPOR	B	-0.24%
CELH	F	-0.24%
HSY	F	-0.24%
LW	C	-0.25%
BILL	A	-0.26%
NEOG	F	-0.26%
AUR	C	-0.26%
AWK	C	-0.26%
VAL	F	-0.27%
FOUR	A	-0.27%
STNE	F	-0.27%
PTEN	C	-0.27%
MNST	C	-0.28%
SOFI	B	-0.28%
ESTC	C	-0.29%
XP	F	-0.29%
CYTK	F	-0.3%
LYV	A	-0.3%
APLS	F	-0.3%
APTV	F	-0.32%
GTLB	B	-0.32%
VVV	D	-0.33%
CCOI	B	-0.33%
ABNB	C	-0.34%
INSP	D	-0.34%
AFRM	A	-0.35%
CACC	D	-0.36%
COHR	B	-0.36%
BBIO	F	-0.36%
ZI	D	-0.36%
SATS	D	-0.4%
RBLX	C	-0.41%
U	C	-0.41%
TTWO	A	-0.43%
WBD	B	-0.43%
ALGM	D	-0.45%
DV	C	-0.45%
CGNX	D	-0.45%
RH	C	-0.47%
CFLT	B	-0.47%
CHTR	C	-0.48%
CSCO	B	-0.52%
FND	D	-0.53%
BRZE	C	-0.56%
FIVE	F	-0.56%
NWS	A	-0.57%
LITE	B	-0.6%
POOL	C	-0.61%
DXCM	C	-0.63%
LSCC	D	-0.7%

CLSE Underweight 302 Positions Relative to INRO

Symbol	Grade	Weight
MSFT	D	-4.18%
HON	C	-1.56%
BXP	C	-1.38%
AXP	A	-1.14%
XOM	B	-0.95%
NEE	C	-0.94%
CBRE	B	-0.88%
PM	B	-0.83%
MMM	D	-0.78%
TT	A	-0.65%
CSGP	D	-0.65%
LLY	F	-0.64%
GS	A	-0.62%
SO	C	-0.59%
DUK	C	-0.53%
SPGI	C	-0.52%
MS	A	-0.52%
URI	C	-0.5%
UBER	F	-0.5%
AMD	F	-0.49%
COF	C	-0.49%
ETN	A	-0.48%
CVX	A	-0.48%
CRM	B	-0.47%
GWW	B	-0.46%
COST	A	-0.46%
LOW	C	-0.45%
CEG	C	-0.45%
BX	A	-0.42%
CARR	C	-0.42%
FAST	B	-0.41%
JCI	B	-0.4%
TJX	A	-0.38%
PWR	A	-0.37%
WM	B	-0.37%
SCHW	B	-0.37%
CAT	B	-0.36%
CTAS	B	-0.34%
DHI	F	-0.33%
ADBE	C	-0.32%
AMAT	F	-0.32%
DFS	B	-0.31%
KKR	A	-0.31%
AEP	C	-0.31%
GEV	B	-0.31%
NOW	A	-0.3%
ICE	C	-0.29%
ADP	A	-0.29%
INTU	B	-0.28%
LEN	D	-0.28%
MCO	B	-0.26%
PCG	A	-0.26%
CME	B	-0.26%
TMO	F	-0.26%
CSX	C	-0.26%
Z	A	-0.25%
EMR	B	-0.24%
EXC	C	-0.24%
MRK	D	-0.24%
ADI	D	-0.23%
COP	C	-0.23%
XEL	A	-0.23%
AMGN	F	-0.22%
CPRT	B	-0.21%
ORLY	B	-0.21%
COIN	C	-0.2%
DE	B	-0.2%
RSG	A	-0.2%
USB	A	-0.2%
ETR	B	-0.2%
EIX	B	-0.2%
WCN	A	-0.2%
DHR	F	-0.2%
PHM	D	-0.19%
WELL	A	-0.18%
KLAC	F	-0.18%
PANW	B	-0.18%
MRVL	B	-0.17%
ODFL	C	-0.17%
PH	A	-0.17%
AMP	A	-0.17%
WSO	A	-0.16%
MMC	B	-0.16%
CB	C	-0.16%
FE	C	-0.15%
CSL	C	-0.15%
AZO	C	-0.15%
BLDR	D	-0.15%
TFC	A	-0.15%
ITW	B	-0.15%
EOG	A	-0.14%
LII	A	-0.14%
ROST	D	-0.14%
PFE	F	-0.14%
AME	A	-0.14%
ES	C	-0.13%
REGN	F	-0.12%
NXPI	D	-0.12%
MAS	D	-0.12%
WMB	A	-0.12%
AMT	C	-0.11%
ARES	A	-0.11%
VLTO	C	-0.11%
RJF	A	-0.11%
BK	A	-0.11%
PAYX	B	-0.11%
OKE	A	-0.11%
AON	A	-0.11%
CRWD	B	-0.11%
FCX	F	-0.11%
ACM	B	-0.11%
OC	A	-0.11%
PCAR	B	-0.11%
KMI	A	-0.1%
ADSK	A	-0.1%
PSX	C	-0.1%
MPC	D	-0.1%
PKG	A	-0.1%
ROK	C	-0.1%
LNT	A	-0.1%
EVRG	A	-0.1%
IP	A	-0.09%
ALLE	C	-0.09%
TSCO	D	-0.09%
MTB	A	-0.09%
AFL	B	-0.09%
FTNT	C	-0.09%
TRV	B	-0.09%
VRSK	A	-0.09%
CMI	A	-0.09%
SLB	C	-0.09%
ZTS	D	-0.08%
OTIS	C	-0.08%
TGT	F	-0.08%
AIG	B	-0.08%
HUBB	B	-0.08%
IR	B	-0.08%
EFX	F	-0.08%
MSTR	B	-0.08%
FICO	B	-0.08%
BALL	F	-0.08%
WDAY	B	-0.08%
RTX	D	-0.07%
FBIN	D	-0.07%
BKR	A	-0.07%
HBAN	A	-0.07%
BR	A	-0.07%
FDS	B	-0.07%
WAB	B	-0.07%
MELI	C	-0.07%
HES	B	-0.07%
TRGP	A	-0.07%
ACN	B	-0.07%
AMCR	C	-0.07%
AVY	F	-0.07%
DOV	A	-0.06%
ACGL	C	-0.06%
CDW	F	-0.06%
VTR	B	-0.06%
BRK.A	B	-0.06%
FANG	C	-0.06%
OXY	D	-0.06%
JBHT	C	-0.06%
KEYS	A	-0.06%
F	C	-0.06%
AOS	F	-0.06%
ROL	B	-0.06%
HPQ	B	-0.06%
IBM	C	-0.06%
TDY	B	-0.05%
ALNY	D	-0.05%
PPL	A	-0.05%
BURL	B	-0.05%
HUBS	A	-0.05%
WSM	C	-0.05%
WTW	B	-0.05%
ANSS	B	-0.05%
TRU	D	-0.05%
TPL	A	-0.05%
TROW	B	-0.05%
LMT	D	-0.05%
A	D	-0.05%
HOOD	B	-0.05%
FTV	C	-0.05%
IQV	F	-0.05%
DDOG	A	-0.05%
CCK	D	-0.05%
VICI	C	-0.05%
HIG	B	-0.05%
BBY	D	-0.05%
ULTA	F	-0.05%
CCI	C	-0.05%
TW	A	-0.05%
STT	B	-0.05%
CFG	B	-0.05%
KMX	B	-0.04%
STX	C	-0.04%
PNR	A	-0.04%
ZM	C	-0.04%
SNA	A	-0.04%
SNAP	D	-0.04%
PTC	B	-0.04%
MTD	F	-0.04%
ARE	F	-0.04%
CBOE	C	-0.04%
HAL	C	-0.04%
TRMB	B	-0.04%
BRO	B	-0.04%
TYL	B	-0.04%
PFG	D	-0.04%
MA	B	-0.04%
DVN	F	-0.04%
IRM	C	-0.04%
CG	B	-0.04%
SYY	D	-0.04%
V	A	-0.04%
MRO	B	-0.03%
ZS	B	-0.03%
EG	C	-0.03%
SWK	D	-0.03%
MANH	D	-0.03%
DT	D	-0.03%
CTRA	B	-0.03%
PSTG	D	-0.03%
PAYC	B	-0.03%
SBAC	D	-0.03%
WRB	A	-0.03%
L	A	-0.03%
SWKS	F	-0.03%
WAT	C	-0.03%
NDSN	B	-0.03%
WY	F	-0.03%
DOC	C	-0.03%
GGG	B	-0.03%
UPS	C	-0.03%
GD	D	-0.03%
NOC	D	-0.03%
DAL	B	-0.03%
TDG	D	-0.03%
BIIB	F	-0.03%
ENTG	D	-0.03%
IEX	C	-0.03%
DKS	D	-0.03%
SSNC	B	-0.03%
JBL	C	-0.03%
TER	F	-0.03%
BSY	F	-0.02%
TECH	F	-0.02%
CTSH	B	-0.02%
LIN	C	-0.02%
IT	C	-0.02%
BMRN	F	-0.02%
NBIX	C	-0.02%
TTC	C	-0.02%
AIZ	A	-0.02%
ERIE	D	-0.02%
AXON	A	-0.02%
HWM	A	-0.02%
IOT	A	-0.02%
AFG	A	-0.02%
ALLY	C	-0.02%
BBWI	C	-0.02%
AVTR	F	-0.02%
RVTY	F	-0.02%
OVV	B	-0.02%
MTCH	D	-0.02%
LHX	C	-0.02%
FDX	B	-0.02%
GLPI	C	-0.02%
EBAY	D	-0.02%
WBA	F	-0.01%
RS	B	-0.01%
FIS	C	-0.01%
SUI	C	-0.01%
ACI	C	-0.01%
SHW	B	-0.01%
ESS	B	-0.01%
TXT	D	-0.01%
HEI	A	-0.01%
MAA	B	-0.01%
INVH	D	-0.01%
VRSN	C	-0.01%
RPRX	D	-0.01%
VTRS	A	-0.01%
EPAM	B	-0.01%
TWLO	A	-0.01%
NET	B	-0.01%
CTLT	C	-0.01%
BIO	C	-0.01%
UNH	B	-0.01%
LUV	C	-0.01%
NUE	C	-0.01%
SNOW	B	-0.01%
AVB	B	-0.01%
FI	A	-0.01%
DINO	D	-0.01%
QRVO	F	-0.01%
CHRD	D	-0.01%
HII	F	-0.0%
FNF	B	-0.0%
HEI	A	-0.0%
CPT	B	-0.0%