FPAG vs. SHOC ETF Comparison

Comparison of FPA Global Equity ETF (FPAG) to Strive U.S. Semiconductor ETF (SHOC)

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

SHOC

Strive U.S. Semiconductor ETF

SHOC Description

Strive U.S. Semiconductor ETF is an exchange traded fund launched and managed by Empowered Funds, LLC. The fund is co-managed by Strive Asset Management, LLC. It invests in public equity markets of the United States. It invests in stocks of companies operating across information technology, semiconductors and semiconductor equipment sectors. It invests in growth and value stocks of companies across diversified market capitalization. The fund seeks to track the performance of the Solactive United States Semiconductors 30 Capped Index, by using full replication technique. Strive U.S. Semiconductor ETF is domiciled in the United States.

Grade (RS Rating)

Last Trade

$45.55

Average Daily Volume

29,487

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FPAG	SHOC
30 Days	0.08%	-1.30%
60 Days	1.01%	-2.41%
90 Days	5.63%	8.43%
12 Months	31.03%	44.74%

2 Overlapping Holdings

	Symbol	Grade	Weight in FPAG	Weight in SHOC	Overlap
	ADI	C	5.13%	4.49%	4.49%
	AVGO	B	2.26%	4.92%	2.26%

FPAG Overweight 23 Positions Relative to SHOC

Symbol	Grade	Weight
GOOGL	A	6.38%
META	B	5.35%
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 26 Positions Relative to SHOC

Symbol	Grade	Weight
NVDA	B	-25.68%
ASML	F	-9.49%
AMD	F	-8.42%
TXN	A	-4.58%
MU	C	-4.56%
AMAT	F	-4.11%
LRCX	F	-3.81%
KLAC	F	-3.58%
INTC	C	-3.45%
SNPS	B	-3.02%
MRVL	A	-2.83%
CDNS	C	-2.72%
QCOM	D	-2.48%
MPWR	F	-1.67%
MCHP	F	-1.59%
ON	D	-1.16%
KEYS	C	-1.07%
TER	F	-0.81%
ARM	B	-0.72%
STM	F	-0.72%
ENTG	D	-0.62%
DD	D	-0.42%
LSCC	C	-0.29%
MKSI	F	-0.27%
ST	F	-0.21%
RMBS	C	-0.18%