FPAG vs. ITA ETF Comparison

Comparison of FPA Global Equity ETF (FPAG) to iShares U.S. Aerospace & Defense ETF (ITA)

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

ITA

iShares U.S. Aerospace & Defense ETF

ITA Description

The investment seeks to track the investment results of an index composed of U.S. equities in the aerospace and defense sector. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. It seeks to track the investment results of the Dow Jones U.S. Select Aerospace & Defense Index (the "underlying index"), which measures the performance of the aerospace and defense sector of the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$144.54

Average Daily Volume

422,145

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FPAG	ITA
30 Days	0.08%	-4.51%
60 Days	1.01%	-2.00%
90 Days	5.63%	5.52%
12 Months	31.03%	29.29%

1 Overlapping Holdings

	Symbol	Grade	Weight in FPAG	Weight in ITA	Overlap
	HWM	B	1.29%	4.64%	1.29%

FPAG Overweight 24 Positions Relative to ITA

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%
AVGO	B	2.26%
NXPI	C	2.21%
KMX	F	1.85%
CHTR	B	1.75%
KMI	B	1.72%
MAR	A	1.69%
FE	D	1.49%
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 34 Positions Relative to ITA

Symbol	Grade	Weight
GE	D	-18.08%
RTX	C	-15.63%
LMT	D	-10.5%
AXON	B	-5.13%
BA	F	-5.06%
LHX	A	-4.78%
NOC	D	-4.32%
TDG	C	-4.3%
GD	C	-4.27%
TXT	F	-2.96%
CW	B	-2.6%
HEI	D	-2.51%
BWXT	B	-2.19%
WWD	D	-1.92%
HEI	D	-1.72%
HII	F	-1.43%
AVAV	B	-1.18%
MOG.A	C	-1.07%
HXL	F	-0.94%
SPR	C	-0.74%
RKLB	A	-0.73%
KTOS	C	-0.67%
DRS	A	-0.44%
AIR	F	-0.41%
MRCY	D	-0.32%
TGI	C	-0.21%
LOAR	A	-0.2%
CDRE	D	-0.18%
DCO	D	-0.16%
ACHR	C	-0.14%
VVX	B	-0.14%
RGR	F	-0.13%
SWBI	D	-0.11%
NPK	F	-0.07%