GCAD vs. SHLD ETF Comparison

Comparison of Gabelli Equity Income ETF (GCAD) to Global X Defense Tech ETF (SHLD)

GCAD

Gabelli Equity Income ETF

GCAD Description

The fund will seek to achieve its investment objective by investing, under normal market conditions, at least 80% of its net assets in securities in income producing equity securities including securities in the aerospace and defense sectors. Aerospace companies include manufacturers, assemblers and distributors of aircraft and aircraft parts. Defense companies include producers of components and equipment for the defense industry, such as military aircraft, radar equipment and weapons.

Grade (RS Rating)

Last Trade

$35.26

Average Daily Volume

871

Number of Holdings ^*

* may have additional holdings in another (foreign) market

SHLD

Global X Defense Tech ETF

SHLD Description

The investment seeks to provide investment results that track the performance of the Nasdaq Yewno Aerospace & Defense IndexTM before fees and expenses. Under normal circumstances, the fund seeks to achieve its investment objective by investing at least 80% of its assets in securities of companies in the index that are tied to the protection of national security interests of the United States. From the universe of eligible securities, the index identifies the top 50 eligible companies ranked by total outstanding contracts relating to the protection of U.S. national security interests, and projected revenue amounts.

Grade (RS Rating)

Last Trade

$39.41

Average Daily Volume

286,373

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	GCAD	SHLD
30 Days	2.90%	2.05%
60 Days	4.74%	6.57%
90 Days	4.50%	7.65%
12 Months	33.11%	45.69%

9 Overlapping Holdings

Symbol	Grade	Weight in GCAD	Weight in SHLD	Overlap
GD	D	1.88%	6.94%	1.88%
KTOS	B	1.04%	1.35%	1.04%
LDOS	C	2.92%	4.86%	2.92%
LHX	C	3.24%	4.35%	3.24%
LMT	D	4.32%	7.91%	4.32%
MOG.A	B	5.73%	2.07%	2.07%
MRCY	C	3.0%	0.8%	0.8%
NOC	D	3.23%	7.31%	3.23%
RTX	D	3.72%	7.85%	3.72%

GCAD Overweight 22 Positions Relative to SHLD

Symbol	Grade	Weight
BA	F	8.08%
SPR	D	6.93%
HXL	F	6.04%
DCO	C	5.35%
HON	C	4.74%
CW	C	3.96%
WWD	C	3.94%
HEI	A	3.72%
CR	A	3.68%
HWM	A	3.42%
TXT	D	3.38%
GE	D	2.94%
AIN	C	2.5%
B	A	2.3%
TGI	B	2.08%
CDRE	F	1.57%
RDW	A	1.39%
PKE	B	0.96%
AIR	B	0.86%
ATRO	D	0.82%
LLAP	F	0.26%
MYNA	D	0.18%

GCAD Underweight 8 Positions Relative to SHLD

Symbol	Grade	Weight
PLTR	B	-10.38%
BWXT	B	-4.01%
PSN	D	-3.92%
HII	F	-2.66%
AVAV	C	-2.02%
OSIS	A	-0.81%
NPK	B	-0.13%
BBAI	C	-0.05%