FOVL vs. CBLS ETF Comparison

Comparison of iShares Focused Value Factor ETF (FOVL) to Changebridge Capital Long/Short Equity ETF (CBLS)

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

$61.22

Average Daily Volume

14,047

Number of Holdings ^*

* may have additional holdings in another (foreign) market

CBLS

Changebridge Capital Long/Short Equity ETF

CBLS Description

The investment seeks long-term capital appreciation while minimizing volatility. The Adviser also considers an assessment of a company's ESG attributes in determining the attractiveness of an investment opportunity. In general, the fund's investments are broadly invested over a number of sectors, but it may focus on the technology, consumer, and healthcare sectors. Under normal circumstances, at least 80% of the fund's net assets, plus borrowings for investment purposes, will be invested long or short in equity securities, including common stocks and depositary receipts. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$23.95

Average Daily Volume

4,208

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FOVL	CBLS
30 Days	-0.93%	2.71%
60 Days	1.20%	6.30%
90 Days	7.36%	11.82%
12 Months	25.80%	16.31%

0 Overlapping Holdings

	Symbol	Grade	Weight in FOVL	Weight in CBLS	Overlap

FOVL Overweight 40 Positions Relative to CBLS

Symbol	Grade	Weight
TOL	B	3.51%
PNFP	C	3.25%
IBKR	A	3.24%
BLDR	C	3.23%
FYBR	B	3.09%
SF	A	3.07%
JPM	B	2.94%
WTM	A	2.92%
COF	B	2.92%
WLK	B	2.86%
SNV	C	2.82%
AXS	A	2.74%
ORI	A	2.73%
FHB	B	2.71%
FNB	A	2.7%
JHG	A	2.68%
WBS	D	2.67%
CNA	B	2.58%
LYB	D	2.42%
KMI	A	2.42%
AMG	D	2.4%
DFS	B	2.4%
PFG	C	2.4%
NUE	D	2.38%
UNM	B	2.38%
T	B	2.37%
CLF	F	2.35%
CUZ	B	2.3%
STT	C	2.29%
HPE	D	2.25%
AN	B	2.25%
LPX	D	2.22%
AGR	B	2.18%
THO	F	2.17%
PNW	B	2.08%
Z	F	1.81%
ALK	B	1.8%
LSXMK	F	1.72%
SNDR	D	1.72%
LLYVK	D	0.67%

FOVL Underweight 68 Positions Relative to CBLS

Symbol	Grade	Weight
FCX	B	-3.13%
AVGO	C	-2.85%
ASML	D	-2.79%
SKY	D	-2.6%
TCOM	A	-2.56%
NVDA	C	-2.55%
MMYT	B	-2.55%
HUMA	B	-2.54%
AAPL	B	-2.46%
FANG	B	-2.44%
STRL	D	-2.43%
TDG	A	-2.41%
EG	C	-2.4%
TMDX	A	-2.38%
MSFT	C	-2.34%
LRCX	D	-2.3%
MU	B	-2.21%
GTLS	B	-2.2%
DXCM	D	-2.2%
NU	C	-2.2%
SN	A	-2.17%
IBN	A	-2.14%
ERJ	A	-2.12%
BLBD	C	-2.11%
PANW	B	-2.09%
ECL	A	-2.08%
TSM	C	-2.06%
ICFI	C	-2.04%
DKNG	C	-1.99%
NOC	B	-1.98%
NARI	F	-1.92%
HLX	B	-1.9%
CHK	B	-1.89%
BKNG	C	-1.87%
RTX	A	-1.86%
GD	A	-1.79%
WTTR	B	-1.79%
FTI	B	-1.73%
NFE	F	-1.69%
RIG	F	-1.66%
INDI	F	-1.3%
HOG	D	--0.4%
BC	F	--0.69%
SOFI	F	--0.75%
POOL	D	--0.79%
AVY	A	--0.79%
IBM	D	--0.9%
CHH	C	--0.91%
DOOO	C	--0.93%
YETI	F	--0.96%
ONON	C	--0.98%
BXP	D	--0.98%
INTC	F	--1.0%
BGFV	F	--1.05%
F	C	--1.05%
BALL	B	--1.06%
ZION	B	--1.08%
WAL	B	--1.09%
EWBC	A	--1.09%
CMA	B	--1.1%
MTB	A	--1.13%
PAYX	D	--1.25%
UTHR	A	--1.27%
ENR	C	--1.34%
FIGS	F	--1.39%
LAD	D	--1.44%
LOW	D	--1.45%
BBY	D	--1.45%