FOVL vs. BOUT ETF Comparison

Comparison of iShares Focused Value Factor ETF (FOVL) to Innovator IBD Breakout Opportunities ETF (BOUT)

FOVL

iShares Focused Value Factor ETF

FOVL Description

The investment seeks to track the to track the investment results of the Focused Value Select Index, which is an objective, rules-based, equal-weighted equity index provided by FTSE Russell. The underlying index measures the performance of large- and mid-capitalization U.S. companies with prominent value factor characteristics, as determined by Russell. The fund generally will invest at least 90% of its assets in the component securities of the underlying index and may invest up to 10% of its assets in certain futures, options and swap contracts, cash and cash equivalents. It is non-diversified.

Grade (RS Rating)

Last Trade

$60.53

Average Daily Volume

14,048

Number of Holdings ^*

* may have additional holdings in another (foreign) market

BOUT

Innovator IBD Breakout Opportunities ETF

BOUT Description

The investment seeks to track, before fees and expenses, the performance of the IBD® Breakout Stocks Index (the "index"). The fund will normally invest at least 80% of its net assets (including investment borrowings) in the equity securities that comprise the index. The index seeks to provide opportunistic investment exposure to those stocks with the potential to "break out," or experience a period of sustained price growth beyond the stock's recent "resistance level," with consideration for various market conditions. The fund is non-diversified. BOUT uses technical analysis to find stocks that are likely to breakout. The funds index relies on an algorithm that establishes a base price (a recent high) for each eligible security. The index then follows the trend for each stock. Selected stocks are ranked by a combination of relative strength and fundamental factors, and then weighted in fixed tiers according to this ranking. In addition, BOUT will move 50% of its portfolio into T-bills based on market signals: a rapid increase in either margin debt or overall stock prices, combined with slowing reversing momentum in the S&P 500. The T-bill position will remain in place until the S&P 500 falls by 50% or show indications of rising momentum. BOUT is rebalanced and reconstituted weekly after the close on Friday. The frequent rebalance schedule means the fund will be highly responsive to the technical factors that drive its strategy, but could also experience high turnover.

Grade (RS Rating)

Last Trade

$34.46

Average Daily Volume

2,250

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FOVL	BOUT
30 Days	-2.38%	-3.68%
60 Days	1.02%	-3.82%
90 Days	5.31%	2.28%
12 Months	27.92%	16.35%

1 Overlapping Holdings

	Symbol	Grade	Weight in FOVL	Weight in BOUT	Overlap
	IBKR	A	3.25%	4.01%	3.25%

FOVL Overweight 39 Positions Relative to BOUT

Symbol	Grade	Weight
TOL	C	3.4%
PNFP	C	3.29%
BLDR	C	3.12%
COF	B	3.09%
JPM	B	3.07%
SF	A	3.01%
WTM	A	2.97%
WLK	B	2.87%
FHB	A	2.83%
WBS	D	2.77%
FYBR	C	2.77%
SNV	C	2.77%
AXS	B	2.76%
ORI	A	2.71%
FNB	A	2.7%
JHG	B	2.66%
KMI	A	2.61%
CNA	B	2.57%
LYB	D	2.51%
PFG	C	2.49%
NUE	D	2.47%
CLF	F	2.47%
DFS	B	2.46%
T	C	2.46%
AMG	C	2.44%
HPE	D	2.31%
THO	F	2.31%
CUZ	A	2.3%
LPX	D	2.28%
AN	B	2.28%
STT	C	2.28%
AGR	B	2.21%
PNW	B	2.09%
Z	F	1.94%
ALK	B	1.93%
LSXMK	D	1.7%
SNDR	D	1.69%
UNM	A	1.44%
LLYVK	D	0.65%

FOVL Underweight 24 Positions Relative to BOUT

Symbol	Grade	Weight
NXPI	A	-7.48%
MSDL	A	-7.09%
HQY	D	-6.96%
FTI	A	-6.82%
NOG	B	-6.67%
ALKT	A	-5.96%
DVA	B	-4.64%
CRS	A	-4.5%
IRM	D	-4.37%
XYL	A	-4.31%
BCSF	A	-4.07%
PANW	B	-4.03%
HUBS	D	-3.88%
GOOG	A	-3.84%
LPLA	A	-2.05%
AZN	A	-2.04%
ERJ	A	-1.99%
INTU	C	-1.97%
GOOGL	A	-1.92%
FWRG	A	-1.09%
AVAV	B	-1.03%
NVO	D	-1.02%
HEI	A	-1.01%
WAB	A	-0.99%