FMCX vs. MRGR ETF Comparison

Comparison of FMC Excelsior Focus Equity ETF (FMCX) to ProShares Merger ETF (MRGR)

FMCX

FMC Excelsior Focus Equity ETF

FMCX Description

The fund is an actively managed exchange-traded fund (?ETF?) that, during normal market conditions, seeks to invest in approximately 25-30 U.S. exchange-traded common stocks of companies that are listed on U.S. national securities exchanges and trade contemporaneously with the shares of the fund. The fund adviser may also hold concentrated positions in common stocks, although the fund?s guidelines provide that no single investment should generally be more than 10% of the fund?s portfolio at acquisition. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$31.80

Average Daily Volume

Number of Holdings ^*

* may have additional holdings in another (foreign) market

MRGR

ProShares Merger ETF

MRGR Description

The investment seeks investment results, before fees and expenses, that track the performance of the S&P Merger Arbitrage Index (the "index"). The fund is designed to track the performance of the index and provide exposure to a global merger arbitrage strategy. The index, and by extension the fund, seeks to produce consistent, positive returns in virtually all market environments, although there are no assurances it will achieve this result. The fund is non-diversified. The index seeks to provide a risk arbitrage strategy that exploits commonly observed price changes associated with a global selection of publicly announced mergers, acquisitions and other corporate reorganizations. Historically, the index has exhibited market neutral characteristics, lower volatility compared to the S&P 500, and a low correlation to S&P 500 returns.

Grade (RS Rating)

Last Trade

$42.09

Average Daily Volume

792

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FMCX	MRGR
30 Days	0.15%	0.12%
60 Days	2.99%	0.60%
90 Days	6.20%	1.82%
12 Months	25.02%	7.37%

1 Overlapping Holdings

	Symbol	Grade	Weight in FMCX	Weight in MRGR	Overlap
	LBRDK	C	4.24%	2.25%	2.25%

FMCX Overweight 51 Positions Relative to MRGR

Symbol	Grade	Weight
AAPL	C	6.93%
UNH	B	6.84%
KKR	A	6.14%
IAC	F	5.35%
AMZN	C	5.01%
GDDY	A	4.98%
MSFT	D	4.79%
LSXMK	D	4.22%
GGG	B	3.98%
PYPL	B	3.9%
MTCH	D	3.18%
LSXMA	D	1.79%
GOOGL	C	1.77%
LBRDA	C	1.74%
PG	C	1.3%
PM	B	1.21%
YUM	D	1.18%
CMCSA	B	1.13%
MCD	D	1.12%
AMGN	F	1.11%
KEYS	A	1.06%
VUSB	A	0.92%
ICSH	A	0.92%
GILD	C	0.87%
CL	D	0.85%
MO	A	0.84%
ENTG	D	0.82%
ARWR	D	0.72%
NKE	F	0.68%
HON	C	0.6%
DHR	F	0.55%
GOOG	C	0.5%
BAX	F	0.47%
YUMC	C	0.42%
MUSA	B	0.4%
SPGI	C	0.37%
MTX	B	0.33%
KEX	B	0.33%
EQR	C	0.3%
JPM	A	0.3%
MUR	D	0.25%
V	A	0.21%
FWONK	A	0.21%
BKNG	A	0.19%
FLWS	D	0.15%
GD	D	0.13%
BATRK	D	0.11%
PNR	A	0.1%
FWONA	A	0.05%
VMEO	B	0.03%
BATRA	F	0.02%

FMCX Underweight 28 Positions Relative to MRGR

Symbol	Grade	Weight
HTLF	B	-3.58%
DFS	B	-3.14%
IBTX	B	-3.02%
SASR	B	-2.81%
EDR	A	-2.53%
INFN	D	-2.5%
LBPH	A	-2.43%
EVRI	A	-2.42%
NAPA	A	-2.42%
B	A	-2.41%
SMAR	B	-2.41%
ROIC	A	-2.41%
ALTR	B	-2.4%
ATSG	B	-2.4%
ZUO	B	-2.39%
K	A	-2.37%
RCM	A	-2.37%
ENV	B	-2.37%
CDMO	A	-2.36%
ANSS	B	-2.32%
ALE	A	-2.31%
HCP	B	-2.3%
MRO	B	-2.28%
CTLT	C	-2.2%
JNPR	D	-2.14%
SPR	D	-2.11%
CHX	C	-1.8%
RVNC	F	-1.42%