DIVL vs. BEEZ ETF Comparison

Comparison of Madison Dividend Value ETF (DIVL) to Honeytree U.S. Equity ETF (BEEZ)

DIVL

Madison Dividend Value ETF

DIVL Description

The fund seeks to achieve its investment objective by investing in equity securities of companies with a market capitalization of over $1 billion and a history of paying dividends, with the ability to increase dividends over time. Under normal market conditions, the fund will invest at least 80% of its net assets (including any borrowings for investment purposes) in dividend paying equity securities. The fund may also invest up to 50% of its common stock allocation in foreign securities, including ADRs and emerging market securities.

Grade (RS Rating)

Last Trade

$22.53

Average Daily Volume

2,676

Number of Holdings ^*

* may have additional holdings in another (foreign) market

BEEZ

Honeytree U.S. Equity ETF

BEEZ Description

The fund is an actively managed exchange-traded fund ("ETF") sub-advised by Honeytree Investment Management Ltd. (the "Sub-Adviser"). The fund does not seek to replicate the performance of a specified index. The fund seeks to achieve its investment objective by investing at least 80% of the fund"s net assets, plus borrowings for investment purposes in a concentrated portfolio of large-cap and mid-cap U.S. listed equity stocks.

Grade (RS Rating)

Last Trade

$32.81

Average Daily Volume

601

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	DIVL	BEEZ
30 Days	1.65%	1.11%
60 Days	4.77%	2.05%
90 Days	5.98%	4.98%
12 Months	21.78%	25.00%

6 Overlapping Holdings

Symbol	Grade	Weight in DIVL	Weight in BEEZ	Overlap
AMT	C	2.58%	3.91%	2.58%
APD	A	2.29%	3.97%	2.29%
CMI	A	2.16%	4.08%	2.16%
FAST	B	4.53%	4.03%	4.03%
HD	B	3.83%	4.13%	3.83%
TXN	C	3.85%	3.78%	3.78%

DIVL Overweight 30 Positions Relative to BEEZ

Symbol	Grade	Weight
MS	A	4.78%
ADP	A	4.51%
BLK	B	3.99%
HON	C	3.92%
ABBV	F	3.54%
JPM	A	3.52%
LOW	C	3.29%
EOG	A	3.17%
CVX	A	3.1%
CMCSA	B	2.82%
JNJ	C	2.77%
UNP	C	2.74%
NEE	C	2.69%
HPE	B	2.65%
MDT	D	2.64%
CME	B	2.63%
BAC	A	2.61%
COP	C	2.57%
USB	A	2.54%
MKC	C	2.35%
D	C	2.28%
DGX	A	2.02%
XOM	B	1.91%
PG	C	1.41%
NKE	F	1.36%
PEP	F	1.32%
ABT	B	1.25%
DE	B	1.14%
PAYX	B	1.13%
CL	D	0.99%

DIVL Underweight 19 Positions Relative to BEEZ

Symbol	Grade	Weight
INTU	B	-4.17%
ACN	B	-4.11%
COST	A	-4.1%
NOW	A	-4.09%
EW	C	-4.07%
ZTS	D	-4.05%
V	A	-4.04%
ATR	B	-4.02%
WTS	B	-4.02%
MA	B	-4.01%
SHW	B	-3.99%
EQIX	A	-3.98%
ITW	B	-3.98%
TMO	F	-3.92%
A	D	-3.9%
MAS	D	-3.87%
TSCO	D	-3.86%
LRCX	F	-3.76%
OLED	F	-3.72%