DFEN vs. CBLS ETF Comparison

Comparison of Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) to Changebridge Capital Long/Short Equity ETF (CBLS)

DFEN

Direxion Daily Aerospace & Defense Bull 3X Shares

DFEN Description

The investment seeks daily investment results, before fees and expenses, of 300% of the daily performance of the Dow Jones U.S. Select Aerospace & Defense Index. The fund, under normal circumstances, invests at least 80% of its net assets (plus borrowing for investment purposes) in financial instruments that provide daily leveraged exposure to the index and/or exchange-traded funds ("ETFs") that track the index. The index is provided by Dow Jones U.S. Index. The index provider attempts to measure the performance of the aerospace and defense industry of the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$36.71

Average Daily Volume

288,677

Number of Holdings ^*

* may have additional holdings in another (foreign) market

CBLS

Changebridge Capital Long/Short Equity ETF

CBLS Description

The investment seeks long-term capital appreciation while minimizing volatility. The Adviser also considers an assessment of a company's ESG attributes in determining the attractiveness of an investment opportunity. In general, the fund's investments are broadly invested over a number of sectors, but it may focus on the technology, consumer, and healthcare sectors. Under normal circumstances, at least 80% of the fund's net assets, plus borrowings for investment purposes, will be invested long or short in equity securities, including common stocks and depositary receipts. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$26.83

Average Daily Volume

2,139

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	DFEN	CBLS
30 Days	2.43%	4.28%
60 Days	6.78%	5.58%
90 Days	11.81%	5.18%
12 Months	85.58%	35.65%

4 Overlapping Holdings

Symbol	Grade	Weight in DFEN	Weight in CBLS	Overlap
BWXT	B	1.31%	2.7%	1.31%
GD	D	2.63%	2.32%	2.32%
RTX	D	9.18%	2.29%	2.29%
TDG	D	2.58%	1.78%	1.78%

DFEN Overweight 28 Positions Relative to CBLS

Symbol	Grade	Weight
GE	D	11.08%
LMT	D	6.27%
AXON	A	4.16%
HWM	A	3.05%
LHX	C	2.91%
BA	F	2.84%
NOC	D	2.6%
TXT	D	1.85%
CW	C	1.67%
HEI	A	1.55%
WWD	C	1.18%
HEI	A	1.07%
HII	F	0.91%
MOG.A	B	0.73%
AVAV	C	0.69%
RKLB	A	0.58%
HXL	F	0.57%
KTOS	B	0.47%
SPR	D	0.41%
AIR	B	0.27%
MRCY	C	0.25%
TGI	B	0.16%
ACHR	B	0.12%
CDRE	F	0.1%
DCO	C	0.1%
RGR	F	0.08%
SWBI	C	0.07%
NPK	B	0.04%

DFEN Underweight 59 Positions Relative to CBLS

Symbol	Grade	Weight
NVDA	B	-3.31%
LNG	A	-3.31%
WTTR	A	-3.07%
INTC	C	-2.91%
AMZN	C	-2.83%
GTLS	A	-2.81%
MGNI	B	-2.76%
WMT	A	-2.75%
SKY	A	-2.73%
COST	A	-2.64%
ORCL	A	-2.62%
STRL	A	-2.54%
CCL	A	-2.49%
RDDT	A	-2.45%
OSW	B	-2.43%
IBN	C	-2.38%
ECL	D	-2.32%
NARI	C	-2.3%
ROL	B	-2.28%
D	C	-2.24%
AER	A	-2.24%
VST	A	-2.23%
SO	C	-2.23%
NEE	C	-2.12%
ERJ	A	-2.12%
HUMA	F	-2.11%
SCHW	B	-2.08%
MC	C	-1.98%
ETR	B	-1.93%
SCI	B	-1.92%
DELL	B	-1.91%
CRSP	D	-0.86%
KLG	B	--0.49%
KDP	F	--0.5%
POST	C	--0.5%
GIS	D	--0.51%
PEP	F	--0.51%
DOOO	F	--0.9%
TTC	C	--0.93%
R	B	--0.95%
GIII	D	--0.97%
PFE	F	--1.06%
SIG	B	--1.07%
JNJ	C	--1.1%
MRNA	F	--1.15%
MIDD	C	--1.16%
ROK	C	--1.17%
ENR	B	--1.19%
AME	A	--1.2%
NVO	F	--1.3%
LLY	F	--1.37%
F	C	--1.41%
DE	B	--1.45%
HELE	C	--1.71%
HSY	F	--1.75%
VSAT	F	--1.75%
GOGO	C	--1.77%
NOW	A	--1.8%
TSLA	B	--2.63%

DFEN: Top Represented Industries & Keywords

Industries: Aerospace & Defense Specialty Industrial Machinery Communication Equipment Computer Systems Diversified Industrials Security & Protection Services