DFND vs. CLSE ETF Comparison

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

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

$43.30

Average Daily Volume

809

Number of Holdings ^*

* may have additional holdings in another (foreign) market

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

$23.67

Average Daily Volume

63,906

Number of Holdings ^*

337

* may have additional holdings in another (foreign) market

Performance

Period	DFND	CLSE
30 Days	6.81%	4.27%
60 Days	3.15%	7.06%
90 Days	13.91%	10.14%
12 Months	14.28%	40.33%

17 Overlapping Holdings

Symbol	Grade	Weight in DFND	Weight in CLSE	Overlap
AAPL	C	0.95%	0.83%	0.83%
ALB	B	1.01%	-0.16%	-0.16%
APA	F	-0.82%	0.25%	-0.82%
AVGO	D	0.86%	2.28%	0.86%
CSCO	B	1.5%	-0.52%	-0.52%
HSY	F	1.36%	-0.24%	-0.24%
INTC	C	-1.08%	-0.93%	-1.08%
J	D	1.42%	0.31%	0.31%
LW	C	1.13%	-0.25%	-0.25%
MCHP	F	0.08%	-0.63%	-0.63%
MLM	B	0.8%	-0.13%	-0.13%
MPWR	F	1.31%	0.3%	0.3%
MSCI	C	1.33%	-0.27%	-0.27%
NWS	B	-1.96%	-0.57%	-1.96%
PG	C	2.27%	0.45%	0.45%
SW	A	-2.15%	-0.17%	-2.15%
T	A	-2.19%	0.29%	-2.19%

DFND Overweight 53 Positions Relative to CLSE

Symbol	Grade	Weight
V	A	2.68%
SNA	B	2.66%
CTAS	B	2.6%
VRSK	A	2.44%
KLAC	F	2.42%
GWW	B	2.25%
SHW	C	2.25%
FDS	B	2.22%
NDSN	C	2.22%
MCD	D	2.2%
BRO	B	2.13%
MPC	C	2.11%
CMI	A	2.09%
LMT	D	2.05%
PHM	D	2.0%
MSI	A	1.86%
MCO	B	1.85%
PPG	F	1.77%
MA	B	1.75%
ETN	B	1.74%
ITW	B	1.71%
ROK	B	1.65%
AMAT	F	1.59%
AON	B	1.52%
ALLE	D	1.51%
DHI	D	1.47%
HON	B	1.45%
CB	D	1.39%
ADI	D	1.37%
HUBB	B	1.27%
CBOE	C	1.26%
CME	A	1.24%
MMC	D	1.21%
COST	A	1.2%
LIN	D	1.2%
CMCSA	B	1.15%
FAST	B	1.13%
AOS	F	1.09%
MSFT	D	1.0%
GL	C	0.93%
ODFL	B	0.88%
INTU	B	0.78%
BR	B	0.75%
ACN	B	0.34%
PARA	D	-0.33%
VFC	C	-1.1%
DVN	F	-1.12%
FCX	F	-1.86%
LUV	B	-2.05%
IP	A	-2.32%
F	C	-2.41%
CNP	A	-2.56%
D	C	-2.96%

DFND Underweight 320 Positions Relative to CLSE

Symbol	Grade	Weight
NVDA	A	-4.61%
GOOGL	B	-3.47%
META	C	-3.3%
AMZN	B	-2.53%
APP	B	-2.25%
MU	D	-2.13%
HPE	B	-1.92%
CVNA	B	-1.85%
ANET	D	-1.83%
WMT	A	-1.82%
QCOM	F	-1.73%
IDCC	B	-1.51%
GDDY	A	-1.42%
CVLT	A	-1.4%
DOCU	B	-1.37%
PYPL	B	-1.33%
ORCL	A	-1.33%
ACIW	B	-1.3%
TSLA	B	-1.22%
JHG	B	-1.21%
NTNX	B	-1.16%
HD	C	-1.13%
SYF	B	-1.11%
BMY	B	-1.11%
NTRS	A	-1.08%
GILD	B	-1.07%
SNEX	A	-1.06%
PLTR	B	-1.02%
NTAP	C	-1.0%
LNG	A	-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	B	-0.85%
GVA	A	-0.84%
MLI	B	-0.84%
CARG	B	-0.83%
JNJ	D	-0.83%
BAC	A	-0.81%
PRIM	A	-0.8%
MO	A	-0.79%
NFLX	A	-0.79%
THC	C	-0.78%
FITB	B	-0.78%
DVA	C	-0.78%
IESC	B	-0.77%
CPNG	D	-0.77%
EME	A	-0.75%
WFC	A	-0.75%
CNX	A	-0.74%
FTI	A	-0.74%
UTHR	C	-0.73%
PNC	B	-0.72%
ABBV	F	-0.72%
RF	A	-0.72%
STRL	B	-0.71%
ZION	B	-0.71%
CMA	B	-0.71%
NRG	B	-0.71%
UHS	D	-0.7%
TMUS	B	-0.7%
CEIX	B	-0.7%
GEN	B	-0.68%
VRT	A	-0.68%
APH	B	-0.67%
UMBF	B	-0.66%
ALSN	B	-0.66%
MTZ	A	-0.66%
AVT	C	-0.66%
MWA	B	-0.65%
BLK	B	-0.65%
JPM	B	-0.64%
CHRW	B	-0.61%
EXPE	B	-0.61%
TSN	B	-0.6%
FFIV	A	-0.6%
FTDR	A	-0.58%
AMG	B	-0.58%
LDOS	C	-0.55%
VST	A	-0.55%
RGA	B	-0.55%
GLW	B	-0.52%
MET	A	-0.52%
SLVM	B	-0.5%
GOOG	B	-0.49%
UI	A	-0.49%
EXP	B	-0.48%
CACI	D	-0.48%
PNW	A	-0.48%
AVA	C	-0.47%
UNP	D	-0.47%
PGR	B	-0.46%
DUOL	A	-0.45%
ALL	A	-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%
GRMN	B	-0.37%
OUT	A	-0.36%
EQR	C	-0.35%
CCL	A	-0.35%
CDP	D	-0.34%
RGLD	C	-0.32%
CNC	F	-0.31%
PTON	B	-0.31%
LAMR	D	-0.31%
CVS	D	-0.29%
VLO	C	-0.29%
MDT	D	-0.29%
IIPR	F	-0.28%
NVR	D	-0.24%
VRTX	D	-0.23%
MATX	B	-0.22%
NEM	D	-0.22%
TOL	B	-0.22%
EEFT	C	-0.22%
FLR	B	-0.21%
JLL	D	-0.2%
MUSA	B	-0.2%
ABM	B	-0.19%
BAH	F	-0.18%
KR	B	-0.17%
NTRA	A	-0.17%
BOX	B	-0.17%
JAZZ	B	-0.16%
FOXA	B	-0.14%
EXPD	D	-0.14%
FN	C	-0.13%
PRU	B	-0.13%
VCTR	B	-0.12%
VCYT	B	-0.12%
CINF	A	-0.12%
CDE	C	-0.11%
ILMN	C	-0.1%
AEIS	B	-0.07%
INCY	C	-0.07%
HQY	A	-0.07%
QQQ	B	-0.0%
LNTH	C	-0.0%
LRCX	F	-0.0%
PENN	C	--0.05%
KNX	B	--0.06%
HGV	C	--0.06%
HUN	F	--0.07%
EXAS	D	--0.07%
RYN	D	--0.07%
COOP	B	--0.07%
CCS	F	--0.07%
BC	F	--0.08%
JOE	F	--0.08%
AES	F	--0.08%
FLYW	B	--0.08%
GNTX	F	--0.09%
JBLU	F	--0.09%
NSC	B	--0.1%
MCW	C	--0.1%
ABG	B	--0.1%
ATO	A	--0.1%
ACVA	A	--0.11%
ENPH	F	--0.11%
CGON	F	--0.11%
EL	F	--0.12%
RBA	A	--0.12%
FL	F	--0.12%
PCH	D	--0.12%
DLR	A	--0.13%
EXR	C	--0.13%
STLD	B	--0.13%
AVAV	C	--0.13%
ALIT	C	--0.13%
VMC	B	--0.13%
BPOP	C	--0.14%
PYCR	C	--0.14%
DAY	B	--0.14%
REXR	F	--0.14%
ARWR	D	--0.14%
MKL	A	--0.14%
AA	A	--0.14%
EQIX	A	--0.14%
CZR	F	--0.15%
COLD	D	--0.15%
APD	A	--0.15%
GTLS	A	--0.15%
CRL	D	--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	C	--0.16%
LGIH	F	--0.16%
DAR	C	--0.16%
UHAL	D	--0.16%
AGO	A	--0.16%
EW	C	--0.16%
SITE	F	--0.16%
TEX	D	--0.17%
TREX	C	--0.17%
MDGL	C	--0.17%
LKQ	F	--0.17%
MASI	B	--0.17%
AJG	A	--0.17%
KRG	A	--0.17%
ENOV	C	--0.18%
CHDN	B	--0.18%
UEC	B	--0.18%
EBC	B	--0.18%
AGCO	F	--0.18%
COTY	F	--0.18%
AL	B	--0.18%
CNH	C	--0.18%
BRKR	F	--0.18%
C	B	--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	A	--0.21%
AESI	B	--0.21%
NOG	A	--0.21%
WTM	A	--0.21%
PRCT	B	--0.22%
BANC	B	--0.22%
MTN	C	--0.22%
SAIA	C	--0.22%
SUM	B	--0.22%
EQT	A	--0.23%
PSA	D	--0.23%
XYL	D	--0.23%
WTRG	B	--0.24%
ELF	C	--0.24%
IONS	F	--0.24%
GPOR	A	--0.24%
CELH	F	--0.24%
DELL	C	--0.25%
KEY	B	--0.25%
BILL	A	--0.26%
NEOG	D	--0.26%
AUR	C	--0.26%
AWK	C	--0.26%
VAL	F	--0.27%
FOUR	A	--0.27%
STNE	F	--0.27%
TEAM	B	--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	D	--0.3%
LYV	A	--0.3%
NDAQ	A	--0.3%
APLS	F	--0.3%
APTV	F	--0.32%
GTLB	B	--0.32%
VVV	D	--0.33%
CCOI	B	--0.33%
LPLA	A	--0.34%
ZBRA	B	--0.34%
ABNB	C	--0.34%
INSP	F	--0.34%
FCNCA	A	--0.35%
APO	B	--0.35%
AFRM	A	--0.35%
CACC	D	--0.36%
COHR	B	--0.36%
BBIO	F	--0.36%
ZI	C	--0.36%
BEN	C	--0.36%
ON	F	--0.39%
DG	F	--0.4%
SATS	D	--0.4%
BA	D	--0.4%
RBLX	B	--0.41%
DLTR	F	--0.41%
PINS	F	--0.41%
U	C	--0.41%
RIVN	F	--0.42%
TTWO	A	--0.43%
WBD	B	--0.43%
SNPS	C	--0.44%
ALGM	F	--0.45%
DV	C	--0.45%
CGNX	D	--0.45%
GE	D	--0.46%
CDNS	B	--0.46%
MRNA	F	--0.47%
SMCI	F	--0.47%
RH	C	--0.47%
CFLT	B	--0.47%
CHTR	B	--0.48%
FND	D	--0.53%
BRZE	C	--0.56%
FIVE	F	--0.56%
WST	C	--0.59%
LITE	B	--0.6%
POOL	D	--0.61%
DXCM	C	--0.63%
WDC	F	--0.65%
LSCC	F	--0.7%
ROP	C	--0.7%
TXN	C	--0.81%
FSLR	F	--1.26%