HDGE vs. PPTY ETF Comparison

Comparison of Ranger Equity Bear Bear ETF (HDGE) to PPTY U.S. Diversified Real Estate ETF (PPTY)

HDGE

Ranger Equity Bear Bear ETF

HDGE Description

The investment seeks capital appreciation through short sales of domestically traded equity securities. The Sub-Advisor seeks to achieve the fund's investment objective by short selling a portfolio of liquid mid- and large-cap U.S. exchange-traded equity securities, ETFs registered pursuant to the 1940 Act, ETNs and other ETPs. The Sub-Advisor implements a bottom-up, fundamental, research driven security selection process that seeks to identify securities with low earnings quality or aggressive accounting that may tend to mask operational deterioration and bolster the reported earnings per share over a short time period.

Grade (RS Rating)

Last Trade

$21.26

Average Daily Volume

87,790

Number of Holdings ^*

* may have additional holdings in another (foreign) market

PPTY

PPTY U.S. Diversified Real Estate ETF

PPTY Description

The investment seeks to track the performance, before fees and expenses, of the PPTYX - U.S. Diversified Real Estate Index¿ (the "index"). Under normal circumstances, at least 80% of the fund's total assets (exclusive of any collateral held from securities lending) will be invested in the component securities of the index. The index was developed in 2017 by the fund's index provider and an affiliate of the fund's sub-adviser, and uses a rules-based methodology to provide diversified exposure to the liquid U.S. real estate market.

Grade (RS Rating)

Last Trade

$28.67

Average Daily Volume

8,414

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	HDGE	PPTY
30 Days	5.12%	-1.33%
60 Days	4.97%	-1.47%
90 Days	5.64%	-2.57%
12 Months	-12.68%	10.41%

7 Overlapping Holdings

Symbol	Grade	Weight in HDGE	Weight in PPTY	Overlap
COLD	F	-1.22%	1.74%	-1.22%
EQC	F	-1.21%	0.79%	-1.21%
LTC	A	-1.23%	0.31%	-1.23%
NTST	C	-1.08%	0.53%	-1.08%
O	A	-2.69%	0.1%	-2.69%
REG	D	-1.28%	1.76%	-1.28%
ROIC	D	-1.2%	0.09%	-1.2%

HDGE Overweight 63 Positions Relative to PPTY

Symbol	Grade	Weight
ZIP	F	-0.69%
RIVN	F	-0.93%
ALB	F	-0.94%
HTLD	F	-0.97%
PX	F	-0.99%
EXTR	F	-1.02%
AMCR	D	-1.05%
FVRR	D	-1.05%
CZR	F	-1.05%
TDOC	F	-1.06%
NOK	B	-1.07%
NAPA	D	-1.07%
ENR	D	-1.07%
PI	A	-1.08%
LITE	F	-1.09%
IPGP	C	-1.1%
GT	F	-1.11%
HTZ	F	-1.12%
FRSH	D	-1.12%
AY	A	-1.13%
RKLB	D	-1.15%
DAN	D	-1.16%
CLVT	D	-1.16%
APTV	F	-1.19%
ACI	F	-1.19%
APD	D	-1.2%
TGNA	F	-1.22%
MRTN	D	-1.22%
EXPO	C	-1.23%
RF	B	-1.25%
NXST	D	-1.25%
OLED	D	-1.25%
PAYC	F	-1.26%
PHR	F	-1.27%
CABO	F	-1.28%
CGNX	D	-1.3%
MRCY	D	-1.3%
HLIO	B	-1.32%
BE	F	-1.33%
PYCR	D	-1.36%
THS	F	-1.37%
ELF	C	-1.38%
UI	D	-1.39%
VRSN	F	-1.43%
DEO	F	-1.43%
BILL	F	-1.43%
ENPH	F	-1.43%
VLY	D	-1.45%
WAL	C	-1.46%
RUN	F	-1.46%
SNDR	F	-1.47%
YETI	F	-1.47%
SHLS	F	-1.48%
CAR	F	-1.6%
WHR	F	-1.6%
JACK	F	-1.71%
SNV	C	-1.73%
KDP	A	-1.78%
KMX	D	-1.81%
SNA	D	-1.86%
SPT	F	-1.87%
ATGE	D	-2.38%
WK	F	-3.36%

HDGE Underweight 84 Positions Relative to PPTY

Symbol	Grade	Weight
AVB	A	-3.91%
PLD	F	-3.82%
EQIX	D	-3.6%
FCPT	C	-3.27%
SPG	C	-2.97%
EQR	A	-2.95%
DLR	B	-2.86%
DEA	B	-2.79%
AMH	B	-2.69%
TRNO	D	-2.58%
WELL	A	-2.33%
KRC	D	-2.3%
MAR	C	-2.27%
ARE	D	-2.22%
MAA	D	-2.1%
UDR	A	-2.01%
ESS	A	-1.96%
HIW	A	-1.77%
HLT	C	-1.73%
FRT	A	-1.59%
STAG	D	-1.56%
BXP	C	-1.56%
AAT	B	-1.52%
CPT	A	-1.46%
IIPR	B	-1.37%
ESRT	D	-1.3%
CUZ	B	-1.3%
DOC	A	-1.25%
KIM	D	-1.24%
EGP	F	-1.22%
WPC	C	-1.21%
VTR	C	-1.18%
CSR	A	-1.17%
AIRC	A	-1.15%
SKT	B	-1.13%
SUI	D	-1.0%
AHH	C	-1.0%
LXP	D	-1.0%
INVH	B	-0.95%
KRG	B	-0.95%
DBRG	D	-0.86%
GTY	B	-0.84%
PSA	D	-0.82%
SLG	A	-0.82%
H	C	-0.8%
PECO	D	-0.79%
ELS	F	-0.72%
HST	D	-0.71%
FR	D	-0.62%
OHI	C	-0.62%
SITC	C	-0.62%
EXR	D	-0.59%
ADC	B	-0.54%
RHP	D	-0.54%
CHH	D	-0.48%
WH	C	-0.46%
NHI	A	-0.44%
CTRE	A	-0.42%
APLE	D	-0.41%
SHO	D	-0.37%
DEI	B	-0.32%
CUBE	D	-0.31%
CHCT	D	-0.31%
NHC	C	-0.3%
SBRA	C	-0.29%
UMH	B	-0.28%
JBGS	D	-0.28%
BRX	C	-0.26%
NSA	D	-0.23%
DRH	C	-0.23%
IVT	B	-0.18%
ALEX	F	-0.17%
REXR	F	-0.14%
EPRT	A	-0.11%
AIV	A	-0.11%
IRT	B	-0.11%
UE	C	-0.1%
PLYM	D	-0.1%
BNL	D	-0.1%
AKR	A	-0.1%
NNN	C	-0.1%
VNO	C	-0.09%
BFS	D	-0.09%
GMRE	F	-0.08%