IPAY vs. DFNL ETF Comparison

Comparison of ETFMG Prime Mobile Payments ETF (IPAY) to Davis Select Financial ETF (DFNL)

IPAY

ETFMG Prime Mobile Payments ETF

IPAY Description

The ETFMG Prime Mobile Payments ETF (IPAY®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Prime Mobile Payments Index. The index provides a benchmark for investors interested in tracking the mobile and electronic payments industry, speciﬁcally focusing on credit card networks, payment infrastructure and software services, payment processing services, and payment solutions (such as smartcards, prepaid cards, virtual wallets).

Grade (RS Rating)

Last Trade

$48.44

Average Daily Volume

28,391

Number of Holdings ^*

* may have additional holdings in another (foreign) market

DFNL

Davis Select Financial ETF

DFNL Description

The investment seeks long-term growth of capital. The fund's investment adviser, uses the Davis Investment Discipline to invest, under normal market conditions, at least 80% of its net assets plus any borrowings for investment purposes in securities issued by companies principally engaged in the financial services sector. The fund's portfolio, generally, contains between 15 and 35 companies. It invests, principally, in common stocks. The fund may invest in large, medium or small companies without regard to market capitalization and may invest in issuers in foreign countries, including countries with developed or emerging markets. It is non-diversified.

Grade (RS Rating)

Last Trade

$32.94

Average Daily Volume

8,884

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	IPAY	DFNL
30 Days	-5.91%	0.39%
60 Days	-3.02%	4.39%
90 Days	4.55%	7.38%
12 Months	18.91%	31.51%

1 Overlapping Holdings

	Symbol	Grade	Weight in IPAY	Weight in DFNL	Overlap
	AXP	B	6.63%	4.78%	4.78%

IPAY Overweight 24 Positions Relative to DFNL

Symbol	Grade	Weight
PYPL	B	6.81%
V	D	5.84%
MA	D	5.75%
COIN	D	5.32%
DFS	B	5.11%
FIS	C	4.82%
SQ	D	4.65%
WEX	D	4.17%
TOST	D	4.15%
GPN	F	3.71%
AFRM	C	2.91%
EEFT	C	2.24%
STNE	C	2.02%
WU	C	1.76%
FOUR	F	1.67%
ACIW	A	1.61%
QTWO	A	1.19%
PAGS	D	1.02%
MQ	D	0.99%
EVTC	F	0.97%
DLO	F	0.48%
GDOT	C	0.33%
IMXI	D	0.29%
QIWI	D	0.0%

IPAY Underweight 19 Positions Relative to DFNL

Symbol	Grade	Weight
COF	B	-9.63%
BRK.A	D	-7.33%
JPM	B	-6.47%
WFC	B	-5.97%
MKL	A	-5.59%
CB	C	-5.45%
FITB	A	-5.36%
BK	A	-5.14%
USB	C	-4.6%
PNC	A	-4.58%
L	A	-3.4%
TFC	A	-2.8%
BAC	B	-2.53%
RKT	C	-2.37%
NTB	A	-1.78%
MTB	A	-1.48%
STT	C	-1.4%
SCHW	A	-1.39%
EG	D	-1.1%