IPAY vs. MRGR ETF Comparison

Comparison of ETFMG Prime Mobile Payments ETF (IPAY) to ProShares Merger ETF (MRGR)

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

$60.11

Average Daily Volume

20,274

Number of Holdings ^*

* may have additional holdings in another (foreign) market

MRGR

ProShares Merger ETF

MRGR Description

The investment seeks investment results, before fees and expenses, that track the performance of the S&P Merger Arbitrage Index (the "index"). The fund is designed to track the performance of the index and provide exposure to a global merger arbitrage strategy. The index, and by extension the fund, seeks to produce consistent, positive returns in virtually all market environments, although there are no assurances it will achieve this result. The fund is non-diversified. The index seeks to provide a risk arbitrage strategy that exploits commonly observed price changes associated with a global selection of publicly announced mergers, acquisitions and other corporate reorganizations. Historically, the index has exhibited market neutral characteristics, lower volatility compared to the S&P 500, and a low correlation to S&P 500 returns.

Grade (RS Rating)

Last Trade

$42.09

Average Daily Volume

792

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	IPAY	MRGR
30 Days	10.92%	0.12%
60 Days	14.58%	0.60%
90 Days	19.22%	1.82%
12 Months	46.53%	7.37%

1 Overlapping Holdings

	Symbol	Grade	Weight in IPAY	Weight in MRGR	Overlap
	DFS	B	4.96%	3.14%	3.14%

IPAY Overweight 26 Positions Relative to MRGR

Symbol	Grade	Weight
PYPL	B	6.43%
FI	A	6.42%
TOST	B	6.23%
V	A	5.87%
AXP	A	5.83%
MA	B	5.65%
COIN	C	5.19%
SQ	A	4.84%
CPAY	A	4.83%
AFRM	A	4.82%
FIS	C	4.28%
GPN	B	4.08%
WEX	D	3.09%
FOUR	A	2.91%
ACIW	B	2.21%
QTWO	A	2.16%
EEFT	B	1.91%
WU	F	1.28%
STNE	F	1.13%
VYX	B	0.77%
EVTC	B	0.66%
MQ	D	0.64%
PAGS	F	0.59%
DLO	C	0.38%
IMXI	B	0.32%
GDOT	D	0.26%

IPAY Underweight 28 Positions Relative to MRGR

Symbol	Grade	Weight
HTLF	B	-3.58%
IBTX	B	-3.02%
SASR	B	-2.81%
EDR	A	-2.53%
INFN	D	-2.5%
LBPH	A	-2.43%
EVRI	A	-2.42%
NAPA	A	-2.42%
B	A	-2.41%
SMAR	B	-2.41%
ROIC	A	-2.41%
ALTR	B	-2.4%
ATSG	B	-2.4%
ZUO	B	-2.39%
K	A	-2.37%
RCM	A	-2.37%
ENV	B	-2.37%
CDMO	A	-2.36%
ANSS	B	-2.32%
ALE	A	-2.31%
HCP	B	-2.3%
MRO	B	-2.28%
LBRDK	C	-2.25%
CTLT	C	-2.2%
JNPR	D	-2.14%
SPR	D	-2.11%
CHX	C	-1.8%
RVNC	F	-1.42%