GPOW vs. NBCT ETF Comparison

Comparison of Goldman Sachs North American Pipelines & Power Equity ETF (GPOW) to Neuberger Berman Carbon Transition Infrastructure ETF (NBCT)

GPOW

Goldman Sachs North American Pipelines & Power Equity ETF

GPOW Description

The fund seeks to achieve its investment objective by investing at least 80% of its assets in securities included in its underlying index. The index is designed to deliver exposure to equity securities of U.S. and Canadian listed companies, including companies structured as master limited partnerships, operating in the pipelines and power universe. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$56.46

Average Daily Volume

1,220

Number of Holdings ^*

* may have additional holdings in another (foreign) market

NBCT

Neuberger Berman Carbon Transition Infrastructure ETF

NBCT Description

Under normal market conditions, the fund invests at least 80% of its net assets (plus borrowing for investment purposes) in equity securities of carbon transition companies and infrastructure companies. It invests a significant portion of its assets in carbon transition companies, which the Managers consider to be those companies that have, or in the Portfolio Managers" view, are reasonably expected to have, at least 20% of their assets or revenue, committed to or derived from infrastructure that will facilitate global decarbonization and/or the reduction of other greenhouse gas emissions.

Grade (RS Rating)

Last Trade

$30.66

Average Daily Volume

13,227

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	GPOW	NBCT
30 Days	7.13%	-0.15%
60 Days	11.30%	4.26%
90 Days	15.20%	11.35%
12 Months	38.89%	42.98%

13 Overlapping Holdings

Symbol	Grade	Weight in GPOW	Weight in NBCT	Overlap
AM	A	3.74%	3.45%	3.45%
CWEN	C	1.35%	3.78%	1.35%
DTM	A	2.46%	3.71%	2.46%
EPD	A	5.51%	7.42%	5.51%
ET	A	3.05%	7.32%	3.05%
HESM	A	3.51%	1.93%	1.93%
KNTK	A	0.22%	3.27%	0.22%
LNG	A	5.3%	6.69%	5.3%
OKE	A	5.87%	2.12%	2.12%
PAGP	A	3.24%	2.9%	2.9%
TRGP	A	9.24%	8.39%	8.39%
WES	C	0.66%	5.07%	0.66%
WMB	A	6.31%	5.18%	5.18%

GPOW Overweight 21 Positions Relative to NBCT

Symbol	Grade	Weight
KMI	A	6.63%
ENLC	A	2.33%
PAA	B	1.78%
WKC	C	1.55%
AES	F	1.45%
ORA	B	1.34%
UGI	C	1.22%
AY	A	1.09%
MPLX	A	0.77%
CQP	B	0.69%
NEP	F	0.48%
NEXT	B	0.46%
CLNE	F	0.45%
SUN	C	0.41%
NJR	A	0.34%
NFE	F	0.33%
DKL	C	0.24%
GLP	A	0.17%
SPH	D	0.14%
EE	A	0.14%
NGL	C	0.08%

GPOW Underweight 10 Positions Relative to NBCT

Symbol	Grade	Weight
SRE	A	-4.25%
CNP	A	-3.96%
AR	B	-3.69%
NEE	C	-3.16%
XOM	A	-2.93%
OXY	D	-2.86%
EQT	A	-2.29%
APD	A	-1.89%
DTE	C	-1.85%
LIN	D	-1.84%