HSMV vs. TPYP ETF Comparison

Comparison of First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) to Tortoise North American Pipeline Fund ETF (TPYP)

HSMV

First Trust Horizon Managed Volatility Small/Mid ETF

HSMV Description

The investment seeks to provide investors with capital appreciation. Under normal market conditions, the fund seeks to achieve its investment objective by investing at least 80% of its net assets (including investment borrowings) in small- and/or mid-capitalization common stocks listed and traded on U.S. national securities exchanges that Sub-Advisor believes exhibit low future expected volatility. It is non-diversified.

Grade (RS Rating)

Last Trade

$38.09

Average Daily Volume

1,340

Number of Holdings ^*

147

* may have additional holdings in another (foreign) market

TPYP

Tortoise North American Pipeline Fund ETF

TPYP Description

The investment seeks investment results that correspond generally to the price and distribution rate (total return) performance of the Tortoise North American Pipeline Index (the "underlying index"). The fund will normally invest at least 80% of its total assets in securities that comprise the underlying index (or depository receipts based on such securities). The underlying index is a proprietary rules-based, capitalization weighted, float adjusted index designed to track the overall performance of equity securities of North American Pipeline Companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$36.64

Average Daily Volume

49,565

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	HSMV	TPYP
30 Days	3.72%	11.71%
60 Days	5.02%	17.21%
90 Days	5.82%	20.00%
12 Months	26.13%	49.05%

6 Overlapping Holdings

Symbol	Grade	Weight in HSMV	Weight in TPYP	Overlap
AM	A	1.21%	1.59%	1.21%
CPK	A	0.67%	0.89%	0.67%
DTM	A	2.06%	1.7%	1.7%
NFG	A	1.18%	1.74%	1.18%
NJR	A	1.24%	1.48%	1.24%
OGS	A	0.72%	1.33%	0.72%

HSMV Overweight 141 Positions Relative to TPYP

Symbol	Grade	Weight
ATR	B	2.09%
SEIC	B	1.89%
ORI	A	1.76%
IDA	A	1.65%
INGR	C	1.65%
OGE	A	1.59%
POST	C	1.56%
CTRE	C	1.54%
RLI	A	1.42%
MSGS	A	1.4%
ADC	A	1.34%
DCI	B	1.33%
CACI	D	1.29%
FHI	B	1.26%
AMH	C	1.24%
FLO	D	1.17%
CHE	D	1.16%
NWE	B	1.13%
OHI	C	1.08%
AFG	A	1.08%
POR	C	1.07%
GGG	B	1.06%
NNN	C	1.01%
GNTX	C	0.99%
GLPI	C	0.99%
NYT	D	0.95%
BKH	A	0.9%
EHC	B	0.9%
MMS	F	0.89%
FCPT	C	0.86%
DLB	B	0.85%
CBSH	B	0.83%
ELS	C	0.81%
MSA	F	0.8%
EPR	C	0.79%
PRI	B	0.78%
IDCC	B	0.77%
AVA	A	0.76%
LSTR	D	0.76%
PBH	A	0.76%
EFC	C	0.76%
KBR	F	0.75%
PECO	A	0.74%
LOPE	C	0.74%
ENSG	C	0.73%
AWR	B	0.72%
SF	B	0.72%
RPM	A	0.68%
SLGN	A	0.68%
RNR	C	0.67%
CW	C	0.67%
RGA	A	0.67%
AGO	B	0.67%
ESNT	F	0.67%
JHG	B	0.66%
EPRT	B	0.65%
MDU	D	0.64%
AMG	B	0.63%
CDP	C	0.63%
EGP	D	0.63%
SCI	B	0.62%
PRGS	A	0.58%
ACM	B	0.57%
FELE	B	0.56%
GATX	A	0.56%
CHH	A	0.56%
MTG	C	0.55%
SBRA	C	0.55%
COLM	C	0.55%
NMIH	C	0.55%
RS	B	0.54%
BCPC	B	0.53%
FLS	B	0.52%
CWT	C	0.51%
FNF	B	0.51%
EPC	F	0.49%
AVT	C	0.49%
FCN	F	0.49%
BRX	A	0.48%
BWXT	B	0.48%
MUSA	B	0.47%
LANC	C	0.46%
JEF	A	0.46%
PFGC	B	0.45%
FR	D	0.45%
CHDN	B	0.45%
ARW	D	0.45%
PB	B	0.45%
CNO	B	0.44%
MSM	C	0.44%
LAMR	C	0.43%
ENR	B	0.43%
RYN	D	0.42%
BLKB	B	0.41%
RDN	D	0.4%
FAF	A	0.4%
FNB	A	0.38%
ITT	A	0.38%
CLH	C	0.38%
EXEL	B	0.38%
ASH	F	0.36%
GPK	C	0.36%
ABM	B	0.36%
BJ	A	0.36%
COOP	B	0.35%
G	B	0.35%
IOSP	C	0.35%
SAIC	F	0.35%
LXP	D	0.34%
RGLD	C	0.34%
EVR	B	0.34%
LECO	C	0.34%
JAZZ	B	0.33%
CSL	C	0.33%
MAN	F	0.32%
KEX	B	0.31%
AGCO	D	0.31%
JJSF	C	0.31%
ONB	C	0.31%
R	B	0.3%
KFY	B	0.29%
MTN	C	0.29%
ALV	C	0.29%
MIDD	C	0.28%
EVTC	B	0.28%
OSK	C	0.28%
ORA	B	0.27%
PLXS	B	0.27%
CASY	A	0.26%
LII	A	0.26%
HRB	D	0.26%
FSS	B	0.24%
LFUS	D	0.24%
CUBE	C	0.24%
AIN	C	0.24%
IRT	A	0.23%
HXL	F	0.22%
CRI	F	0.21%
REXR	F	0.2%
PCH	F	0.19%
NSA	C	0.13%

HSMV Underweight 29 Positions Relative to TPYP

Symbol	Grade	Weight
WMB	A	-8.24%
OKE	A	-7.92%
KMI	A	-7.75%
LNG	A	-7.11%
TRGP	A	-4.7%
ATO	A	-3.83%
NI	A	-3.81%
ET	A	-3.8%
EPD	A	-3.67%
MPLX	A	-3.08%
SWX	B	-1.44%
PAA	B	-1.4%
WES	C	-1.27%
AROC	A	-1.25%
ENLC	A	-1.2%
SR	A	-1.19%
SUN	B	-0.99%
KNTK	A	-0.66%
HESM	B	-0.63%
PAGP	A	-0.63%
NWN	A	-0.5%
CQP	B	-0.36%
USAC	B	-0.32%
NFE	D	-0.3%
GLP	A	-0.24%
GEL	D	-0.22%
DKL	C	-0.09%
EE	A	-0.08%
CAPL	C	-0.07%