DVAL vs. CLSE ETF Comparison

Comparison of Dynamic US Large Cap Value ETF (DVAL) to Convergence Long/Short Equity ETF (CLSE)

DVAL

Dynamic US Large Cap Value ETF

DVAL Description

Dynamic US Large Cap Value ETF is an exchange traded fund launched by Franklin Resources, Inc. It is managed by Franklin Advisers, Inc. and Brandywine Global Investment Management, LLC. The fund invests in public equity markets of the United States. It invests in stocks of companies operating across diversified sectors. It invests in value stocks of large-cap companies, within the market capitalization range of the Russell 1000 Index. The fund employs quantitative analysis to create its portfolio. The fund seeks to benchmark the performance of its portfolio against the Russell 1000 Value Index and the S&P 500 Index. It employs proprietary research to create its portfolio. Dynamic US Large Cap Value ETF was formed on December 27, 2006 and is domiciled in the United States.

Grade (RS Rating)

Last Trade

$14.92

Average Daily Volume

7,020

Number of Holdings ^*

110

* 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

$23.68

Average Daily Volume

66,024

Number of Holdings ^*

337

* may have additional holdings in another (foreign) market

Performance

Period	DVAL	CLSE
30 Days	4.63%	4.69%
60 Days	5.94%	6.81%
90 Days	7.93%	9.38%
12 Months	28.10%	39.93%

25 Overlapping Holdings

Symbol	Grade	Weight in DVAL	Weight in CLSE	Overlap
AMG	B	0.4%	0.58%	0.4%
BC	C	0.35%	-0.08%	-0.08%
BMY	B	0.68%	1.11%	0.68%
CF	B	0.83%	0.37%	0.37%
CSCO	B	3.43%	-0.52%	-0.52%
DVA	B	0.31%	0.78%	0.31%
EXP	A	0.22%	0.48%	0.22%
EXPD	D	1.04%	0.14%	0.14%
EXPE	B	0.66%	0.61%	0.61%
FOXA	B	0.51%	0.14%	0.14%
GM	B	3.32%	0.87%	0.87%
JNJ	D	1.56%	0.83%	0.83%
MLM	B	0.66%	-0.13%	-0.13%
MUSA	A	0.29%	0.2%	0.2%
NRG	B	0.77%	0.71%	0.71%
NVR	D	0.64%	0.24%	0.24%
PG	A	0.96%	0.45%	0.45%
PYPL	B	2.36%	1.33%	1.33%
R	B	0.28%	0.38%	0.28%
STLD	B	1.41%	-0.13%	-0.13%
TMUS	B	3.65%	0.7%	0.7%
TOL	B	0.31%	0.22%	0.22%
VLO	C	1.26%	0.29%	0.29%
WFC	A	0.71%	0.75%	0.71%
WMT	A	1.37%	1.82%	1.37%

DVAL Overweight 85 Positions Relative to CLSE

Symbol	Grade	Weight
LMT	D	4.4%
CMCSA	B	4.34%
IBM	C	4.21%
DE	A	3.88%
HON	B	3.53%
CAT	B	3.17%
COP	C	3.1%
MPC	D	2.74%
CVX	A	2.2%
BLDR	D	1.86%
AXP	A	1.5%
LYB	F	1.44%
MMM	D	1.33%
WMB	A	1.32%
PCAR	B	1.2%
NUE	C	1.15%
CSL	C	1.06%
PHM	D	1.05%
KHC	F	0.98%
RS	B	0.97%
GIS	D	0.95%
SCI	B	0.93%
OC	A	0.9%
JBL	B	0.89%
EBAY	D	0.78%
MGM	D	0.76%
CRBG	B	0.74%
PSX	C	0.71%
BG	F	0.7%
DRI	B	0.67%
ORI	A	0.65%
IPG	D	0.65%
MRO	B	0.64%
AMGN	D	0.63%
AN	C	0.62%
CPAY	A	0.6%
EQH	B	0.6%
AFG	A	0.58%
EOG	A	0.53%
BERY	B	0.52%
DIS	B	0.52%
TXT	D	0.5%
WH	B	0.49%
EVR	B	0.48%
ARMK	B	0.47%
OMF	A	0.45%
SYY	B	0.45%
MTG	C	0.45%
VZ	C	0.43%
NXST	C	0.42%
TRMB	B	0.41%
FLEX	A	0.4%
TRGP	B	0.37%
MRK	F	0.35%
RL	B	0.33%
KBH	D	0.33%
SAIC	F	0.31%
DKS	C	0.27%
BCC	B	0.26%
RHI	B	0.26%
AM	A	0.25%
EMN	D	0.23%
AOS	F	0.23%
COKE	C	0.22%
BLD	D	0.2%
PVH	C	0.19%
H	B	0.18%
SNX	C	0.18%
INGR	B	0.17%
CBT	C	0.17%
CNM	D	0.17%
FANG	D	0.15%
MDU	D	0.14%
NEU	C	0.14%
FMC	D	0.13%
WEX	D	0.13%
BYD	C	0.13%
CHX	C	0.1%
GPK	C	0.1%
TPR	B	0.09%
RDN	C	0.08%
OMC	C	0.05%
WSC	D	0.04%
VOYA	B	0.04%
WCC	B	0.0%

DVAL Underweight 312 Positions Relative to CLSE

Symbol	Grade	Weight
NVDA	C	-4.61%
GOOGL	C	-3.47%
META	D	-3.3%
AMZN	C	-2.53%
AVGO	D	-2.28%
APP	B	-2.25%
MU	D	-2.13%
HPE	B	-1.92%
CVNA	B	-1.85%
ANET	C	-1.83%
QCOM	F	-1.73%
IDCC	A	-1.51%
GDDY	A	-1.42%
CVLT	B	-1.4%
DOCU	A	-1.37%
ORCL	B	-1.33%
ACIW	B	-1.3%
TSLA	B	-1.22%
JHG	A	-1.21%
NTNX	A	-1.16%
HD	A	-1.13%
SYF	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%
COR	B	-0.86%
CAH	B	-0.86%
PPC	C	-0.85%
GVA	A	-0.84%
MLI	C	-0.84%
CARG	C	-0.83%
AAPL	C	-0.83%
BAC	A	-0.81%
PRIM	A	-0.8%
MO	A	-0.79%
NFLX	A	-0.79%
THC	D	-0.78%
FITB	A	-0.78%
IESC	B	-0.77%
CPNG	D	-0.77%
EME	C	-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%
UHS	D	-0.7%
CEIX	A	-0.7%
GEN	B	-0.68%
VRT	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%
TSN	B	-0.6%
FFIV	B	-0.6%
FTDR	A	-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%
CACI	D	-0.48%
PNW	B	-0.48%
AVA	A	-0.47%
UNP	C	-0.47%
PGR	A	-0.46%
DUOL	A	-0.45%
ALL	A	-0.45%
BKNG	A	-0.44%
LPX	B	-0.43%
CTRE	D	-0.42%
SCCO	F	-0.41%
RMD	C	-0.4%
JXN	C	-0.39%
SR	A	-0.38%
SPG	B	-0.37%
CNA	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%
CVS	D	-0.29%
T	A	-0.29%
MDT	D	-0.29%
IIPR	D	-0.28%
APA	D	-0.25%
VRTX	F	-0.23%
MATX	C	-0.22%
NEM	D	-0.22%
EEFT	B	-0.22%
FLR	B	-0.21%
JLL	D	-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%
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%
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%
PCH	D	--0.12%
DLR	B	--0.13%
EXR	D	--0.13%
AVAV	D	--0.13%
ALIT	C	--0.13%
VMC	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%
EQIX	A	--0.14%
CZR	F	--0.15%
COLD	D	--0.15%
APD	A	--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%
SITE	D	--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%
MTN	C	--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%
LW	C	--0.25%
KEY	B	--0.25%
BILL	A	--0.26%
NEOG	F	--0.26%
AUR	C	--0.26%
AWK	D	--0.26%
VAL	D	--0.27%
FOUR	B	--0.27%
STNE	F	--0.27%
TEAM	A	--0.27%
MSCI	C	--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%
RBLX	C	--0.41%
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%
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%