FPAG vs. IPDP ETF Comparison

Comparison of FPA Global Equity ETF (FPAG) to Dividend Performers ETF (IPDP)

FPAG

FPA Global Equity ETF

FPAG Description

Although the adviser has adopted a policy to invest at least 80% of its assets in equity securities, the adviser expects to invest, under normal circumstances, at least 95% of the fund?s assets in equity securities. The fund invests primarily in publicly traded common stocks of mid- and large-cap U.S. and non-U.S. companies, including companies in emerging market countries. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$30.99

Average Daily Volume

28,017

Number of Holdings ^*

* may have additional holdings in another (foreign) market

IPDP

Dividend Performers ETF

IPDP Description

The investment seeks to provide income; the secondary objective is capital appreciation. The fund’s investment strategy is twofold: (1) investing in dividend paying U.S. equity securities, and (2) credit spread options on an S&P 500 ETF or Index. It may also invest in equity real estate investment trusts (“REITs”). A credit spread is an options strategy that involves the purchase of one option and a sale of another option in the same class and with the same expiration but different strike prices.

Grade (RS Rating)

Last Trade

$20.77

Average Daily Volume

1,324

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FPAG	IPDP
30 Days	1.22%	5.99%
60 Days	1.82%	7.03%
90 Days	1.89%	8.82%
12 Months	23.71%	33.16%

1 Overlapping Holdings

	Symbol	Grade	Weight in FPAG	Weight in IPDP	Overlap
	AVGO	D	2.26%	0.25%	0.25%

FPAG Overweight 24 Positions Relative to IPDP

Symbol	Grade	Weight
GOOGL	C	6.38%
META	D	5.35%
ADI	D	5.13%
C	A	4.88%
CMCSA	B	4.78%
TEL	B	4.58%
GOOG	C	4.17%
IFF	D	3.84%
WFC	A	3.66%
AMZN	C	3.39%
AON	A	2.69%
NXPI	D	2.21%
KMX	B	1.85%
CHTR	C	1.75%
KMI	A	1.72%
MAR	B	1.69%
FE	C	1.49%
HWM	A	1.29%
ICLR	D	1.26%
WAB	B	1.23%
UBER	D	1.16%
NFLX	A	0.66%
BABA	D	0.29%
PCG	A	0.21%

FPAG Underweight 49 Positions Relative to IPDP

Symbol	Grade	Weight
CAH	B	-2.37%
ACN	C	-2.36%
AIT	A	-2.34%
SYK	C	-2.33%
AMP	A	-2.32%
CSCO	B	-2.32%
TT	A	-2.31%
SNA	A	-2.31%
HNI	B	-2.3%
GWW	B	-2.29%
ADP	B	-2.29%
COR	B	-2.28%
SEIC	B	-2.28%
HIG	B	-2.27%
TRV	B	-2.27%
CTAS	B	-2.27%
BRO	B	-2.27%
MCK	B	-2.26%
APOG	B	-2.26%
BRC	D	-2.25%
AAPL	C	-2.25%
ABM	B	-2.24%
UNH	C	-2.23%
ABT	B	-2.23%
ETN	A	-2.22%
RGA	A	-2.2%
DOV	A	-2.2%
APH	A	-2.17%
ECL	D	-2.16%
MMC	B	-2.16%
IEX	B	-2.14%
DCI	B	-2.09%
TROW	B	-2.04%
JNJ	D	-2.02%
WTS	B	-1.99%
UPS	C	-1.88%
LECO	B	-1.87%
A	D	-1.78%
AOS	F	-1.74%
MSI	B	-1.72%
KLAC	D	-1.68%
GPC	D	-1.67%
QCOM	F	-1.6%
MRK	F	-1.52%
NSP	D	-1.52%
ELV	F	-1.51%
HD	A	-0.24%
HPQ	B	-0.23%
CSX	B	-0.22%