CLSE vs. LBAY ETF Comparison

Comparison of Convergence Long/Short Equity ETF (CLSE) to Leatherback Long/Short Alternative Yield ETF (LBAY)

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

$23.68

Average Daily Volume

66,024

Number of Holdings ^*

337

* may have additional holdings in another (foreign) market

LBAY

Leatherback Long/Short Alternative Yield ETF

LBAY Description

The investment seeks capital appreciation and income. The fund is an actively-managed ETF that seeks to achieve its investment objective by purchasing long positions in securities believed to provide sustainable shareholder yield (defined as dividends plus buybacks plus debt paydowns) and taking short positions in securities expected to decline in price. It will generally have net exposure of 75% - 110% long. The fund's long positions are generally expected to be comprised of equity securities or depositary receipts, although long positions may also include investment-grade corporate bonds and convertible bonds. It is non-diversified.

Grade (RS Rating)

Last Trade

$26.54

Average Daily Volume

2,703

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CLSE	LBAY
30 Days	4.69%	-3.39%
60 Days	6.81%	-3.50%
90 Days	9.38%	-2.55%
12 Months	39.93%	5.40%

24 Overlapping Holdings

Symbol	Grade	Weight in CLSE	Weight in LBAY	Overlap
AAPL	C	0.83%	-1.56%	-1.56%
APD	A	-0.15%	3.26%	-0.15%
AVGO	D	2.28%	-1.45%	-1.45%
AWK	D	-0.26%	3.6%	-0.26%
BKNG	A	0.44%	3.4%	0.44%
CVNA	B	1.85%	-1.56%	-1.56%
CVS	D	0.29%	4.57%	0.29%
DLR	B	-0.13%	-1.58%	-1.58%
DUOL	A	0.45%	-1.9%	-1.9%
EQIX	A	-0.14%	-1.41%	-1.41%
LW	C	-0.25%	4.73%	-0.25%
MDT	D	0.29%	3.7%	0.29%
MO	A	0.79%	4.71%	0.79%
MSCI	C	-0.27%	3.01%	-0.27%
MTN	C	-0.22%	3.86%	-0.22%
NEM	D	0.22%	4.79%	0.22%
PCH	D	-0.12%	2.8%	-0.12%
RBLX	C	-0.41%	-1.25%	-1.25%
SITE	D	-0.16%	-1.24%	-1.24%
T	A	0.29%	3.74%	0.29%
TOL	B	0.22%	-1.55%	-1.55%
TSLA	B	1.22%	-1.5%	-1.5%
UNP	C	0.47%	3.67%	0.47%
VRT	B	0.68%	-1.81%	-1.81%

CLSE Overweight 313 Positions Relative to LBAY

Symbol	Grade	Weight
NVDA	C	4.61%
GOOGL	C	3.47%
META	D	3.3%
AMZN	C	2.53%
APP	B	2.25%
MU	D	2.13%
HPE	B	1.92%
ANET	C	1.83%
WMT	A	1.82%
QCOM	F	1.73%
IDCC	A	1.51%
GDDY	A	1.42%
CVLT	B	1.4%
DOCU	A	1.37%
PYPL	B	1.33%
ORCL	B	1.33%
ACIW	B	1.3%
JHG	A	1.21%
NTNX	A	1.16%
HD	A	1.13%
SYF	B	1.11%
BMY	B	1.11%
NTRS	A	1.08%
GILD	C	1.07%
SNEX	B	1.06%
PLTR	B	1.02%
NTAP	C	1.0%
LNG	B	0.97%
SEIC	B	0.95%
HALO	F	0.9%
AMRX	C	0.9%
BFH	B	0.88%
GM	B	0.87%
COR	B	0.86%
CAH	B	0.86%
PPC	C	0.85%
GVA	A	0.84%
MLI	C	0.84%
CARG	C	0.83%
JNJ	D	0.83%
BAC	A	0.81%
PRIM	A	0.8%
NFLX	A	0.79%
THC	D	0.78%
FITB	A	0.78%
DVA	B	0.78%
IESC	B	0.77%
CPNG	D	0.77%
EME	C	0.75%
WFC	A	0.75%
CNX	A	0.74%
FTI	A	0.74%
UTHR	C	0.73%
PNC	B	0.72%
ABBV	D	0.72%
RF	A	0.72%
STRL	B	0.71%
ZION	B	0.71%
CMA	A	0.71%
NRG	B	0.71%
UHS	D	0.7%
TMUS	B	0.7%
CEIX	A	0.7%
GEN	B	0.68%
APH	A	0.67%
UMBF	B	0.66%
ALSN	B	0.66%
MTZ	B	0.66%
AVT	C	0.66%
MWA	B	0.65%
BLK	C	0.65%
JPM	A	0.64%
CHRW	C	0.61%
EXPE	B	0.61%
TSN	B	0.6%
FFIV	B	0.6%
FTDR	A	0.58%
AMG	B	0.58%
LDOS	C	0.55%
VST	B	0.55%
RGA	A	0.55%
GLW	B	0.52%
MET	A	0.52%
SLVM	B	0.5%
GOOG	C	0.49%
UI	A	0.49%
EXP	A	0.48%
CACI	D	0.48%
PNW	B	0.48%
AVA	A	0.47%
PGR	A	0.46%
PG	A	0.45%
ALL	A	0.45%
LPX	B	0.43%
CTRE	D	0.42%
SCCO	F	0.41%
RMD	C	0.4%
JXN	C	0.39%
SR	A	0.38%
R	B	0.38%
SPG	B	0.37%
CNA	B	0.37%
CF	B	0.37%
GRMN	B	0.37%
OUT	A	0.36%
EQR	B	0.35%
CCL	B	0.35%
CDP	C	0.34%
RGLD	C	0.32%
CNC	D	0.31%
PTON	B	0.31%
LAMR	D	0.31%
J	F	0.31%
MPWR	F	0.3%
VLO	C	0.29%
IIPR	D	0.28%
APA	D	0.25%
NVR	D	0.24%
VRTX	F	0.23%
MATX	C	0.22%
EEFT	B	0.22%
FLR	B	0.21%
JLL	D	0.2%
MUSA	A	0.2%
ABM	B	0.19%
BAH	F	0.18%
KR	B	0.17%
NTRA	B	0.17%
BOX	B	0.17%
JAZZ	B	0.16%
FOXA	B	0.14%
EXPD	D	0.14%
FN	D	0.13%
PRU	A	0.13%
VCTR	B	0.12%
VCYT	B	0.12%
CINF	A	0.12%
CDE	D	0.11%
ILMN	D	0.1%
AEIS	B	0.07%
INCY	C	0.07%
HQY	B	0.07%
QQQ	B	0.0%
LNTH	D	0.0%
LRCX	F	0.0%
PENN	C	-0.05%
KNX	B	-0.06%
HGV	B	-0.06%
HUN	F	-0.07%
EXAS	D	-0.07%
RYN	D	-0.07%
COOP	B	-0.07%
CCS	D	-0.07%
BC	C	-0.08%
JOE	F	-0.08%
AES	F	-0.08%
FLYW	C	-0.08%
GNTX	C	-0.09%
JBLU	F	-0.09%
NSC	B	-0.1%
MCW	B	-0.1%
ABG	B	-0.1%
ATO	A	-0.1%
ACVA	B	-0.11%
ENPH	F	-0.11%
CGON	F	-0.11%
EL	F	-0.12%
RBA	A	-0.12%
FL	F	-0.12%
EXR	D	-0.13%
STLD	B	-0.13%
AVAV	D	-0.13%
ALIT	C	-0.13%
VMC	B	-0.13%
MLM	B	-0.13%
BPOP	B	-0.14%
PYCR	C	-0.14%
DAY	B	-0.14%
REXR	F	-0.14%
ARWR	F	-0.14%
MKL	A	-0.14%
AA	B	-0.14%
CZR	F	-0.15%
COLD	D	-0.15%
GTLS	B	-0.15%
CRL	C	-0.15%
RNR	C	-0.15%
DRVN	B	-0.15%
NARI	C	-0.16%
FIVN	C	-0.16%
BHF	B	-0.16%
XPO	B	-0.16%
OSK	B	-0.16%
LGIH	D	-0.16%
DAR	C	-0.16%
ALB	C	-0.16%
UHAL	D	-0.16%
AGO	B	-0.16%
EW	C	-0.16%
SW	A	-0.17%
TEX	D	-0.17%
TREX	C	-0.17%
MDGL	B	-0.17%
LKQ	D	-0.17%
MASI	A	-0.17%
AJG	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%
CNH	C	-0.18%
BRKR	D	-0.18%
C	A	-0.19%
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	A	-0.21%
WTM	A	-0.21%
PRCT	B	-0.22%
BANC	A	-0.22%
SAIA	B	-0.22%
SUM	B	-0.22%
EQT	B	-0.23%
PSA	D	-0.23%
XYL	D	-0.23%
WTRG	B	-0.24%
ELF	C	-0.24%
IONS	F	-0.24%
GPOR	B	-0.24%
CELH	F	-0.24%
HSY	F	-0.24%
DELL	C	-0.25%
KEY	B	-0.25%
BILL	A	-0.26%
NEOG	F	-0.26%
AUR	C	-0.26%
VAL	D	-0.27%
FOUR	B	-0.27%
STNE	F	-0.27%
TEAM	A	-0.27%
PTEN	C	-0.27%
MNST	C	-0.28%
SOFI	A	-0.28%
ESTC	C	-0.29%
MDB	C	-0.29%
XP	F	-0.29%
MKTX	D	-0.29%
CYTK	F	-0.3%
LYV	A	-0.3%
NDAQ	A	-0.3%
APLS	D	-0.3%
APTV	D	-0.32%
GTLB	B	-0.32%
VVV	F	-0.33%
CCOI	B	-0.33%
LPLA	A	-0.34%
ZBRA	B	-0.34%
ABNB	C	-0.34%
INSP	D	-0.34%
FCNCA	A	-0.35%
APO	B	-0.35%
AFRM	B	-0.35%
CACC	D	-0.36%
COHR	B	-0.36%
BBIO	F	-0.36%
ZI	D	-0.36%
BEN	C	-0.36%
ON	D	-0.39%
DG	F	-0.4%
SATS	D	-0.4%
BA	F	-0.4%
DLTR	F	-0.41%
PINS	D	-0.41%
U	C	-0.41%
RIVN	F	-0.42%
TTWO	A	-0.43%
WBD	C	-0.43%
SNPS	B	-0.44%
ALGM	D	-0.45%
DV	C	-0.45%
CGNX	C	-0.45%
GE	D	-0.46%
CDNS	B	-0.46%
MRNA	F	-0.47%
SMCI	F	-0.47%
RH	B	-0.47%
CFLT	B	-0.47%
CHTR	C	-0.48%
CSCO	B	-0.52%
FND	C	-0.53%
BRZE	C	-0.56%
FIVE	F	-0.56%
NWS	B	-0.57%
WST	C	-0.59%
LITE	B	-0.6%
POOL	C	-0.61%
MCHP	D	-0.63%
DXCM	D	-0.63%
WDC	D	-0.65%
LSCC	D	-0.7%
ROP	B	-0.7%
TXN	C	-0.81%
INTC	D	-0.93%
FSLR	F	-1.26%

CLSE Underweight 28 Positions Relative to LBAY

Symbol	Grade	Weight
ORI	A	-4.81%
XOM	B	-4.75%
BG	F	-4.66%
VTRS	A	-4.53%
CMCSA	B	-4.49%
FIS	C	-4.4%
ZBH	C	-4.39%
AGNC	D	-4.38%
BERY	B	-4.27%
ICE	C	-4.09%
V	A	-3.87%
EBAY	D	-3.53%
MMM	D	-3.44%
RIO	D	-3.38%
LHX	C	-3.36%
SPGI	C	-2.89%
DE	A	-2.8%
SHAK	C	--1.13%
DKS	C	--1.19%
BURL	A	--1.27%
LLY	F	--1.38%
SF	B	--1.46%
EVR	B	--1.46%
DAL	C	--1.51%
PLNT	A	--1.56%
DKNG	B	--1.56%
OLLI	D	--1.61%
SQ	B	--1.63%