ETEC vs. TBLU ETF Comparison

Comparison of iShares Breakthrough Environmental Solutions ETF (ETEC) to Tortoise Global Water ESG Fund (TBLU)

ETEC

iShares Breakthrough Environmental Solutions ETF

ETEC Description

ETEC provides exposure to global equities categorized as emerging green technology. Selection begins with the initial index universe that then excludes companies involved in controversial issues against UNGC principles. Stocks are reviewed to meet revenue derived from eight sustainable themes: energy efficiency, green buildings and transportation, pollution prevention and reduction, renewable energy, resource efficiency technologies and services, water, and sustainable agriculture, food, and forestry. The fund excludes companies with total sustainable product revenue less than 25%. The remaining stocks are screened further to only include companies classified as green technologies. Stocks are scored within the Rogers innovation adoption curve to determine their position across the innovators-laggards spectrum, which contributes to an aggregate score. The top 50 companies with the highest aggregate scores are selected. The market cap-weighted index is reconstituted annually in December and rebalanced quarterly.

Grade (RS Rating)

Last Trade

$19.76

Average Daily Volume

519

Number of Holdings ^*

* may have additional holdings in another (foreign) market

TBLU

Tortoise Global Water ESG Fund

TBLU Description

The investment seeks investment results that correspond generally to the price and distribution rate (total return) performance of the Tortoise Global Water ESG Net Total Return IndexSM. The fund will normally invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the types of securities suggested by its name (i.e., Water Companies). The index is a proprietary rules-based, modified market capitalization weighted, float adjusted index designed to track the overall performance of equity securities of global Water Companies listed on developed country exchanges. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$42.95

Average Daily Volume

4,107

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	ETEC	TBLU
30 Days	-3.35%	-1.99%
60 Days	-6.11%	4.49%
90 Days	-3.59%	16.24%
12 Months	-7.07%

1 Overlapping Holdings

	Symbol	Grade	Weight in ETEC	Weight in TBLU	Overlap
	XYL	D	2.69%	0.27%	0.27%

ETEC Overweight 10 Positions Relative to TBLU

Symbol	Grade	Weight
BWA	D	6.35%
TSLA	B	5.97%
OLED	F	4.92%
XPEV	C	4.28%
LI	F	3.41%
FSLR	F	3.26%
NIO	F	2.46%
ENPH	F	2.31%
LCID	F	1.14%
SEDG	F	0.6%

ETEC Underweight 21 Positions Relative to TBLU

Symbol	Grade	Weight
ANET	C	-5.99%
ERII	D	-4.87%
CNM	D	-4.29%
BMI	B	-4.12%
ECL	D	-3.94%
FELE	B	-3.53%
AOS	F	-3.49%
WMS	F	-3.42%
AWK	C	-3.37%
WTRG	B	-3.32%
FBIN	D	-3.11%
IEX	C	-2.92%
LNN	B	-2.13%
MWA	B	-1.92%
PNR	A	-1.51%
WTTR	A	-1.35%
MEG	F	-1.3%
TTEK	F	-0.37%
WTS	B	-0.33%
VLTO	C	-0.31%
ZWS	B	-0.17%

ETEC: Top Represented Industries & Keywords

Industries: Auto Manufacturers Semiconductor Equipment & Materials Solar Auto Parts Diversified Industrials