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

$30.75

Average Daily Volume

25,748

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

$19.37

Average Daily Volume

940

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FPAG	IPDP
30 Days	0.08%	-0.38%
60 Days	1.01%	0.32%
90 Days	5.63%	6.54%
12 Months	31.03%	31.85%

1 Overlapping Holdings

	Symbol	Grade	Weight in FPAG	Weight in IPDP	Overlap
	AVGO	B	2.26%	2.32%	2.26%

FPAG Overweight 24 Positions Relative to IPDP

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

FPAG Underweight 49 Positions Relative to IPDP

Symbol	Grade	Weight
MSI	B	-2.31%
HD	B	-2.29%
AAPL	C	-2.29%
SNA	A	-2.26%
CTAS	B	-2.23%
ACN	C	-2.21%
TT	C	-2.21%
AMP	B	-2.2%
AIT	A	-2.2%
APOG	A	-2.2%
HNI	D	-2.19%
CSCO	B	-2.19%
TRV	B	-2.19%
CAH	B	-2.16%
GWW	A	-2.15%
HPQ	B	-2.13%
BRO	B	-2.13%
ADP	A	-2.12%
ABM	B	-2.11%
SEIC	A	-2.09%
HIG	D	-2.08%
ECL	C	-2.06%
UNH	C	-2.04%
BRC	D	-2.04%
ABT	A	-2.04%
COR	A	-2.02%
SYK	A	-1.99%
MMC	D	-1.98%
JNJ	D	-1.98%
DOV	B	-1.93%
ETN	B	-1.93%
APH	B	-1.92%
RGA	C	-1.88%
DCI	B	-1.87%
CSX	F	-1.84%
TROW	A	-1.79%
UPS	C	-1.77%
IEX	A	-1.76%
WTS	D	-1.73%
MCK	C	-1.72%
AOS	F	-1.7%
KLAC	F	-1.64%
LECO	B	-1.62%
A	D	-1.61%
QCOM	D	-1.59%
MRK	F	-1.49%
GPC	F	-1.48%
NSP	F	-1.45%
ELV	F	-1.43%