HDGE vs. VOX ETF Comparison

Comparison of Ranger Equity Bear Bear ETF (HDGE) to Vanguard Telecom ETF - DNQ (VOX)

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

$20.83

Average Daily Volume

88,840

Number of Holdings ^*

* may have additional holdings in another (foreign) market

VOX

Vanguard Telecom ETF - DNQ

VOX Description

The investment seeks to track the performance of a benchmark index. The fund employs an indexing investment approach designed to track the performance of the MSCI US Investable Market Index (IMI)/Telecommunication Services 25/50, an index made up of stocks of large, mid-size, and small U.S. companies within the telecommunication services sector, as classified under the Global Industry Classification Standard. It attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$132.17

Average Daily Volume

171,729

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	HDGE	VOX
30 Days	1.12%	0.31%
60 Days	5.79%	3.64%
90 Days	5.79%	3.58%
12 Months	-14.75%	36.11%

3 Overlapping Holdings

Symbol	Grade	Weight in HDGE	Weight in VOX	Overlap
CABO	F	-1.43%	0.18%	-1.43%
NXST	B	-1.39%	0.56%	-1.39%
TGNA	B	-1.4%	0.27%	-1.4%

HDGE Overweight 60 Positions Relative to VOX

Symbol	Grade	Weight
VRSN	F	-0.61%
ELF	D	-0.92%
ALB	C	-1.03%
CZR	F	-1.05%
PX	D	-1.06%
JACK	F	-1.11%
NAPA	F	-1.11%
SNA	D	-1.15%
EXTR	F	-1.15%
IPGP	D	-1.2%
GT	D	-1.2%
NTST	B	-1.22%
ENR	C	-1.24%
APTV	C	-1.25%
LITE	F	-1.25%
FIVN	F	-1.26%
SNV	A	-1.26%
AMCR	A	-1.27%
LUV	D	-1.29%
GO	F	-1.29%
PHR	F	-1.3%
CLVT	F	-1.3%
OLED	B	-1.32%
ROIC	D	-1.33%
ACI	C	-1.33%
PAYC	F	-1.34%
EQC	B	-1.35%
MRTN	D	-1.35%
APD	C	-1.37%
RKLB	C	-1.38%
MCD	D	-1.38%
RF	B	-1.41%
DAN	C	-1.43%
HLIO	B	-1.43%
GLBE	F	-1.43%
REG	D	-1.44%
MRCY	D	-1.44%
LTC	A	-1.45%
RIVN	F	-1.46%
CGNX	B	-1.47%
PYCR	F	-1.49%
AY	B	-1.5%
WK	D	-1.5%
YETI	D	-1.5%
ALGT	F	-1.54%
WHR	F	-1.56%
VLY	D	-1.57%
HUM	D	-1.58%
THS	F	-1.58%
SNDR	D	-1.58%
FRSH	F	-1.6%
BILL	F	-1.63%
WAL	B	-1.69%
CAR	D	-1.77%
KMX	D	-1.93%
CHRW	B	-2.07%
O	B	-2.09%
SPT	F	-2.15%
DEO	D	-2.17%
ATGE	A	-2.54%

HDGE Underweight 96 Positions Relative to VOX

Symbol	Grade	Weight
META	D	-22.39%
GOOGL	B	-13.02%
GOOG	B	-10.42%
DIS	D	-4.79%
CMCSA	D	-4.59%
NFLX	C	-4.54%
VZ	C	-4.52%
T	B	-3.54%
TMUS	B	-2.86%
TTD	B	-1.44%
EA	F	-1.29%
CHTR	F	-1.18%
TTWO	D	-1.1%
OMC	A	-1.03%
LYV	D	-0.99%
PINS	B	-0.99%
WBD	F	-0.94%
RBLX	F	-0.85%
IPG	D	-0.82%
SNAP	C	-0.81%
NWSA	D	-0.74%
MTCH	F	-0.73%
FOXA	B	-0.7%
ROKU	F	-0.66%
NYT	B	-0.64%
LBRDK	F	-0.6%
PARA	C	-0.44%
EDR	A	-0.44%
FYBR	B	-0.43%
ZI	F	-0.42%
WMG	D	-0.4%
FOX	B	-0.4%
IAC	B	-0.39%
NWS	D	-0.31%
ZD	D	-0.28%
IRDM	D	-0.28%
TRIP	F	-0.28%
SIRI	F	-0.27%
CCOI	F	-0.27%
MSGS	B	-0.27%
YELP	D	-0.24%
CNK	D	-0.19%
CARG	C	-0.19%
SATS	C	-0.16%
LUMN	F	-0.15%
TDS	B	-0.15%
LBRDA	F	-0.14%
MGNI	F	-0.13%
MSGE	C	-0.12%
GSAT	F	-0.11%
SSTK	F	-0.11%
LGF.A	C	-0.1%
CARS	C	-0.1%
BMBL	D	-0.1%
LILAK	B	-0.09%
QNST	C	-0.09%
SCHL	F	-0.09%
PUBM	C	-0.09%
SHEN	D	-0.08%
TTGT	D	-0.08%
LGF.A	C	-0.07%
IAS	F	-0.07%
AMC	F	-0.07%
THRY	C	-0.07%
ZIP	F	-0.07%
IMAX	C	-0.07%
VMEO	F	-0.06%
IDT	A	-0.06%
CDLX	D	-0.05%
ADV	C	-0.05%
GTN	C	-0.05%
ATUS	F	-0.05%
STGW	B	-0.05%
GOGO	C	-0.05%
USM	B	-0.05%
BOC	F	-0.04%
MAX	C	-0.04%
BAND	B	-0.04%
CCO	D	-0.04%
ATEX	F	-0.04%
EB	D	-0.04%
FUBO	F	-0.04%
CNSL	C	-0.03%
MCS	F	-0.03%
ATNI	F	-0.03%
GCI	B	-0.03%
AMCX	C	-0.03%
WOW	C	-0.02%
IHRT	F	-0.02%
ANGI	C	-0.02%
SSP	F	-0.02%
MYPS	F	-0.02%
LILA	B	-0.02%
SKLZ	F	-0.01%
OB	B	-0.01%
SST	F	-0.0%