FTLS vs. LBAY ETF Comparison

Comparison of First Trust Long/Short Equity (FTLS) to Leatherback Long/Short Alternative Yield ETF (LBAY)

FTLS

First Trust Long/Short Equity

FTLS Description

The investment seeks to provide investors with long-term total return. Under normal circumstances, at least 80% of the fund's assets (plus the amount of any borrowing for investment purposes) will be exposed to U.S. exchange-listed equity securities of U.S. and foreign companies by investing in such securities directly and/or in U.S. exchange-traded funds ("ETFs") that provide exposure to such securities. It may invest up to 20% of its net assets (plus the amount of any borrowing for investment purposes) in U.S. exchange-listed equity index futures contracts. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$65.28

Average Daily Volume

119,844

Number of Holdings ^*

384

* may have additional holdings in another (foreign) market

LBAY

Leatherback Long/Short Alternative Yield ETF

LBAY Description

The investment seeks capital appreciation and income. The fund is an actively-managed ETF that seeks to achieve its investment objective by purchasing long positions in securities believed to provide sustainable shareholder yield (defined as dividends plus buybacks plus debt paydowns) and taking short positions in securities expected to decline in price. It will generally have net exposure of 75% - 110% long. The fund's long positions are generally expected to be comprised of equity securities or depositary receipts, although long positions may also include investment-grade corporate bonds and convertible bonds. It is non-diversified.

Grade (RS Rating)

Last Trade

$26.62

Average Daily Volume

2,577

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FTLS	LBAY
30 Days	0.99%	-3.39%
60 Days	4.52%	-3.74%
90 Days	5.77%	-0.04%
12 Months	21.04%	6.27%

13 Overlapping Holdings

Symbol	Grade	Weight in FTLS	Weight in LBAY	Overlap
APD	B	-0.72%	3.5%	-0.72%
AVGO	B	1.14%	-1.49%	-1.49%
BURL	D	-0.03%	-1.16%	-1.16%
CMCSA	B	-0.66%	4.26%	-0.66%
DE	C	-0.51%	2.78%	-0.51%
FIS	B	1.06%	5.17%	1.06%
MMM	D	-0.3%	4.29%	-0.3%
MO	A	1.42%	4.12%	1.42%
ORI	C	0.14%	4.82%	0.14%
RCL	A	-0.03%	-1.71%	-1.71%
TSLA	B	-0.55%	-1.52%	-1.52%
XOM	B	-0.45%	5.03%	-0.45%
ZBH	D	-0.38%	3.68%	-0.38%

FTLS Overweight 371 Positions Relative to LBAY

Symbol	Grade	Weight
AAPL	C	7.77%
NVDA	B	4.76%
MSFT	D	4.68%
AMZN	A	2.58%
TMUS	B	2.26%
LOW	B	2.16%
C	B	2.14%
ACN	C	2.1%
SCHW	B	2.08%
PM	A	2.05%
JNJ	D	2.03%
QCOM	F	1.99%
META	B	1.88%
CME	B	1.66%
FDX	D	1.64%
PH	A	1.52%
GOOGL	B	1.44%
VLO	F	1.36%
USB	B	1.35%
MPC	F	1.3%
CL	D	1.25%
ILMN	A	1.22%
GOOG	B	1.21%
KMI	A	1.18%
BRK.A	D	1.14%
CTAS	B	1.08%
LNG	A	1.06%
TRV	B	1.06%
HPQ	B	1.03%
TFC	C	0.99%
LLY	F	0.94%
JPM	B	0.9%
HWM	B	0.9%
ALL	D	0.88%
SYY	C	0.85%
FANG	F	0.83%
NTAP	D	0.78%
AFL	D	0.73%
PBR	F	0.73%
JBL	B	0.73%
SYF	A	0.71%
RL	A	0.66%
TOL	C	0.65%
EAT	A	0.6%
CSL	D	0.58%
NVR	C	0.57%
INSM	D	0.55%
CF	B	0.54%
PNR	A	0.54%
TWLO	A	0.54%
VLTO	D	0.51%
CROX	F	0.5%
MAS	C	0.48%
BJ	B	0.48%
SWK	D	0.46%
VRSN	F	0.45%
NVS	D	0.45%
FLEX	A	0.44%
OKTA	F	0.44%
VICI	D	0.43%
GEN	B	0.42%
NTRS	B	0.42%
CAG	D	0.42%
FFIV	B	0.41%
PENN	D	0.41%
GL	C	0.41%
ZIM	B	0.39%
DBX	B	0.35%
EXP	B	0.34%
CRS	B	0.33%
WRB	C	0.32%
SNA	A	0.32%
TTC	D	0.32%
CCK	B	0.32%
TKO	D	0.32%
ALLY	D	0.3%
LPX	C	0.29%
PI	D	0.29%
JAZZ	C	0.29%
ASO	F	0.29%
IWD	B	0.27%
SCHV	B	0.27%
AYI	A	0.27%
RPRX	D	0.26%
SPYV	B	0.26%
EWBC	B	0.25%
CNK	B	0.24%
AIZ	C	0.21%
SAM	B	0.2%
UHS	D	0.2%
KNSL	F	0.2%
MSM	D	0.2%
HRB	D	0.2%
TWST	D	0.19%
EXEL	A	0.19%
ALSN	A	0.19%
WHD	C	0.19%
MGY	B	0.19%
STNG	F	0.18%
COLB	B	0.18%
THO	C	0.18%
GLBE	B	0.17%
CALM	B	0.16%
ALKS	C	0.16%
PRI	B	0.15%
PNFP	A	0.15%
UMBF	B	0.15%
ADMA	C	0.15%
CBT	B	0.14%
LEG	F	0.14%
SKYW	A	0.14%
AXS	B	0.14%
SFM	A	0.14%
CRC	B	0.14%
LOGI	D	0.14%
BFAM	F	0.14%
GM	A	0.13%
SIGI	D	0.13%
PAA	D	0.13%
YOU	B	0.13%
MTG	D	0.13%
DBRG	D	0.12%
KRG	A	0.12%
CSWI	B	0.12%
CBSH	B	0.12%
VRNA	B	0.12%
GMS	B	0.12%
OPCH	F	0.12%
MATX	A	0.12%
BFH	C	0.12%
NSA	D	0.11%
PPC	A	0.11%
ENLC	A	0.11%
SMPL	B	0.11%
MMS	D	0.11%
FTDR	A	0.11%
WGO	D	0.11%
HESM	F	0.11%
AM	D	0.11%
ZWS	A	0.11%
GFF	D	0.11%
TXG	F	0.1%
TCBI	B	0.1%
EXTR	C	0.1%
RDFN	D	0.1%
ESNT	F	0.1%
FOLD	B	0.1%
ABM	B	0.1%
GRBK	D	0.1%
PRGS	B	0.09%
VCYT	A	0.09%
EPR	D	0.09%
TBBK	D	0.09%
GBCI	B	0.09%
LCII	D	0.09%
MQ	F	0.09%
THG	B	0.09%
KMPR	B	0.08%
CUBI	F	0.08%
RLI	B	0.08%
BCRX	C	0.08%
BOH	A	0.08%
LANC	B	0.08%
CARG	A	0.08%
HAYW	B	0.08%
LOPE	C	0.08%
KFY	C	0.08%
REVG	C	0.07%
PLXS	A	0.07%
WMB	A	0.07%
NMIH	D	0.07%
AVNT	D	0.07%
UBSI	B	0.07%
PAYO	A	0.07%
AZZ	C	0.07%
OTEX	F	0.07%
PLMR	D	0.06%
ROIC	B	0.06%
AUB	C	0.06%
TRMD	F	0.06%
BRC	D	0.06%
MYGN	F	0.06%
WFG	C	0.06%
ADUS	D	0.06%
EBC	B	0.06%
SUPN	B	0.06%
AMPH	B	0.06%
FHB	A	0.06%
PBH	A	0.06%
ICFI	B	0.06%
COLL	F	0.05%
GSL	D	0.05%
CDNA	D	0.04%
HLN	D	-0.02%
COTY	F	-0.02%
CBU	A	-0.02%
RIVN	F	-0.02%
UWMC	F	-0.02%
RUN	D	-0.02%
FRO	F	-0.02%
DNB	C	-0.02%
SAIA	B	-0.02%
KD	F	-0.02%
HON	B	-0.02%
COHR	B	-0.02%
ASPN	F	-0.02%
VSAT	F	-0.02%
ARM	C	-0.02%
NVEE	C	-0.02%
AER	B	-0.02%
LKFN	B	-0.02%
ENS	D	-0.02%
FSLR	D	-0.02%
IBOC	B	-0.02%
CVX	B	-0.02%
EA	A	-0.02%
CFLT	B	-0.03%
FFIN	C	-0.03%
TFIN	B	-0.03%
OSK	C	-0.03%
IRTC	C	-0.03%
ALB	C	-0.03%
BVN	F	-0.03%
AMRK	D	-0.03%
UTZ	D	-0.03%
MARA	D	-0.03%
LMND	B	-0.03%
GKOS	C	-0.03%
GE	D	-0.03%
WMT	A	-0.03%
HHH	B	-0.03%
RDY	F	-0.03%
NEOG	F	-0.03%
AMRC	C	-0.03%
CNNE	B	-0.03%
DIOD	F	-0.03%
ICHR	D	-0.03%
PSMT	D	-0.03%
NWSA	B	-0.03%
RXST	D	-0.03%
CLH	C	-0.03%
AMD	F	-0.03%
TMO	D	-0.03%
OSIS	D	-0.03%
ATEC	C	-0.03%
BIRK	F	-0.03%
PAR	A	-0.03%
BE	D	-0.03%
SDGR	F	-0.03%
AZTA	D	-0.03%
ARLO	F	-0.03%
VIST	B	-0.03%
GPRE	D	-0.03%
SLGN	A	-0.03%
FAST	A	-0.03%
ACIW	C	-0.04%
CTRA	F	-0.04%
GATX	B	-0.04%
AMAT	F	-0.04%
WOLF	D	-0.04%
EQT	B	-0.04%
ERJ	D	-0.04%
LYFT	C	-0.04%
RH	B	-0.04%
UPST	B	-0.04%
PRCT	B	-0.04%
ENR	B	-0.04%
CRDO	B	-0.04%
APPN	B	-0.04%
ZD	D	-0.05%
SOFI	A	-0.05%
ACVA	D	-0.05%
STZ	F	-0.05%
TTD	B	-0.06%
MSA	D	-0.06%
COP	D	-0.06%
AEO	F	-0.06%
VAL	F	-0.06%
WST	C	-0.06%
VRRM	F	-0.06%
MMYT	B	-0.07%
AVAV	B	-0.07%
AVY	D	-0.07%
HCA	D	-0.07%
CDW	F	-0.07%
KTOS	C	-0.07%
APO	A	-0.07%
SSB	B	-0.07%
VNT	C	-0.07%
SE	B	-0.07%
DLB	C	-0.07%
MUFG	B	-0.07%
R	A	-0.08%
BA	F	-0.08%
DY	D	-0.08%
TRMB	B	-0.08%
NXPI	D	-0.09%
MAT	A	-0.09%
CCOI	B	-0.09%
HAE	D	-0.09%
GPC	F	-0.1%
VVV	D	-0.1%
NSIT	F	-0.11%
SLB	F	-0.11%
STM	F	-0.11%
ING	D	-0.11%
ARGX	A	-0.11%
HQY	A	-0.12%
BKR	A	-0.12%
IDCC	A	-0.12%
KEYS	C	-0.13%
STE	D	-0.14%
NFLX	A	-0.14%
PKG	A	-0.15%
HII	F	-0.15%
ABT	B	-0.15%
SYK	A	-0.16%
INFY	D	-0.16%
VMC	B	-0.16%
TM	F	-0.16%
ASX	D	-0.16%
IPG	F	-0.17%
GSK	F	-0.18%
MU	C	-0.18%
GWRE	B	-0.2%
BWXT	B	-0.2%
URI	B	-0.2%
EFX	D	-0.2%
PCAR	B	-0.21%
HSBC	A	-0.22%
FMX	F	-0.22%
CCEP	D	-0.23%
KR	A	-0.24%
PANW	B	-0.24%
DEO	F	-0.25%
PG	D	-0.26%
TYL	B	-0.26%
WAT	A	-0.27%
INTC	C	-0.27%
NSC	B	-0.27%
OMC	B	-0.28%
SAP	B	-0.29%
GEHC	D	-0.29%
TTWO	B	-0.3%
SNPS	C	-0.3%
BABA	B	-0.32%
ISRG	A	-0.32%
UL	D	-0.33%
LMT	D	-0.34%
NOW	A	-0.34%
CMI	A	-0.35%
MDLZ	F	-0.36%
TXN	B	-0.37%
BK	A	-0.38%
UNH	D	-0.39%
MSI	B	-0.41%
HDB	B	-0.41%
ASML	F	-0.42%
MCD	D	-0.42%
WM	B	-0.47%
PNC	B	-0.48%
MLM	B	-0.5%
GD	D	-0.56%
VRSK	B	-0.56%
PAYX	B	-0.58%
ETN	B	-0.58%
PEP	F	-0.6%
LIN	D	-0.64%
DIS	C	-0.66%
CDNS	B	-0.69%
ORCL	B	-0.79%

FTLS Underweight 41 Positions Relative to LBAY

Symbol	Grade	Weight
LW	C	-5.34%
NEM	D	-4.94%
BG	F	-4.64%
CVS	F	-4.5%
AGNC	D	-4.26%
ICE	C	-4.26%
VTRS	B	-4.25%
BERY	C	-4.21%
MDT	B	-3.88%
MTN	F	-3.63%
UNP	D	-3.55%
T	B	-3.53%
AWK	D	-3.53%
V	A	-3.49%
RIO	B	-3.49%
LHX	B	-3.32%
EBAY	D	-3.06%
MSCI	B	-3.0%
BKNG	A	-2.87%
KDP	F	-2.84%
PCH	D	-2.78%
SPGI	D	-2.73%
SOLV	B	-2.25%
DKS	F	--1.23%
EVR	B	--1.24%
SITE	C	--1.26%
FIX	B	--1.29%
SHOP	B	--1.33%
EQIX	B	--1.36%
KKR	B	--1.48%
SF	B	--1.52%
DLR	B	--1.52%
TXRH	B	--1.52%
CVNA	B	--1.55%
OLLI	C	--1.61%
CMG	D	--1.61%
DUOL	B	--1.63%
PLNT	D	--1.75%
SQ	C	--1.89%
DASH	B	--1.92%
VRT	B	--1.95%