FPAG vs. IYZ ETF Comparison

Comparison of FPA Global Equity ETF (FPAG) to iShares U.S. Telecommunications ETF (IYZ)

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 ^*

25

* may have additional holdings in another (foreign) market

IYZ

iShares U.S. Telecommunications ETF

IYZ Description

The investment seeks to track the investment results of an index composed of U.S. equities in the telecommunications 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 Telecommunications Index (the "underlying index"), which measures the performance of the telecommunications sector of the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$25.90

Average Daily Volume

644,199

Number of Holdings ^*

19

* may have additional holdings in another (foreign) market

Performance

Period	FPAG	IYZ
30 Days	0.08%	1.41%
60 Days	1.01%	10.41%
90 Days	5.63%	16.33%
12 Months	31.03%	24.01%

2 Overlapping Holdings

	Symbol	Grade	Weight in FPAG	Weight in IYZ	Overlap
	CHTR	B	1.75%	3.62%	1.75%
	CMCSA	A	4.78%	4.7%	4.7%

FPAG Overweight 23 Positions Relative to IYZ

	Symbol	Grade	Weight
	GOOGL	A	6.38%
	META	B	5.35%
	ADI	C	5.13%
	C	A	4.88%
	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%
	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 17 Positions Relative to IYZ

	Symbol	Grade	Weight
	CSCO	B	-17.11%
	VZ	D	-13.74%
	T	A	-12.65%
	UI	A	-4.65%
	TMUS	B	-4.41%
	ANET	B	-4.38%
	CIEN	B	-4.18%
	LBRDK	A	-4.15%
	LITE	A	-4.13%
	MSI	B	-3.93%
	IRDM	B	-3.77%
	JNPR	A	-3.56%
	FYBR	A	-3.48%
	ROKU	D	-3.21%
	LBTYK	A	-1.8%
	LBTYA	B	-1.79%
	LBRDA	A	-0.62%

FPAG: Top Represented Industries & Keywords

Industries: Internet Content & Information Semiconductors Banks - Global Pay TV Specialty Retail Auto & Truck Dealerships Diagnostics & Research Electronic Components Insurance Brokers Lodging Media - Diversified Oil & Gas Midstream Railroads Software - Application Specialty Chemicals Specialty Industrial Machinery Utilities - Diversified Utilities - Regulated Electric

Keywords: S&P 500 Nasdaq 100 Computing Hyperscale Mobile Devices Work From Home Aerospace Broadband Online Advertising Smartphones Software Telecommunications Wireless Infrastructure Advertising Network Advertising Services Advisory Services Application Programming Interface Auction Based Advertising Program Bank Banking

IYZ: Top Represented Industries & Keywords

Industries: Pay TV Communication Equipment Telecom Services Computer Systems

Keywords: Broadband Telecommunications S&P 500 Internet Access Ethernet Information And Communications Technology Video Services Computer Network Computer Networking Nasdaq 100 Virgin Media Backhaul Computing High Speed Internet Internet Services Network Infrastructure VoIP Voice And Data Voice Over Internet Protocol Voice Services