IPO vs. FFND ETF Comparison

Comparison of Renaissance IPO ETF (IPO) to The Future Fund Active ETF (FFND)

IPO

Renaissance IPO ETF

IPO Description

The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Renaissance IPO Index (the "index"). The fund normally invests at least 80% of its total assets in securities that comprise the fund's benchmark index, the Renaissance IPO Index. The remaining 20% may be used to purchase securities not in the index that are an appropriate substitute for certain securities in the index in order to track the index. The index is comprised of common stocks, American Depositary Receipts ("ADRs"), real estate investment trusts ("REITS") and master limited partnerships ("MLPs"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$37.67

Average Daily Volume

55,169

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FFND

The Future Fund Active ETF

FFND Description

Northern Lights Fund Trust II - The Future Fund Active ETF is an exchange traded fund launched by Northern Lights Fund Trust II. The fund is managed by The Future Fund, LLC. It invests in public equity markets of the United States. The fund invests directly, through derivatives and through other funds in stocks of companies operating across diversified sectors. It employs long/short strategy and uses derivatives such as futures and options to create its portfolio. The fund invests in growth and value stocks of companies across diversified market capitalization. It employs proprietary research to create its portfolio. Northern Lights Fund Trust II - The Future Fund Active ETF was formed on August 24, 2021 and is domiciled in the United States. The investment seeks to provide capital appreciation. Under normal market conditions, the fund, which is an actively managed ETF, will primarily invest in the equity securities of companies that the adviser believes to be best positioned to take advantage of or profit from emerging technological or social trends or developments.

Grade (RS Rating)

Last Trade

$21.88

Average Daily Volume

2,639

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	IPO	FFND
30 Days	-9.11%	-4.58%
60 Days	-6.22%	-2.47%
90 Days	7.79%	8.66%
12 Months	36.45%	33.86%

3 Overlapping Holdings

Symbol	Grade	Weight in IPO	Weight in FFND	Overlap
GTLB	F	1.86%	2.14%	1.86%
ONON	D	2.56%	2.24%	2.24%
RIVN	F	2.26%	1.29%	1.29%

IPO Overweight 42 Positions Relative to FFND

Symbol	Grade	Weight
KVUE	F	9.85%
COIN	D	9.62%
NU	C	9.54%
APP	B	5.48%
HOOD	D	4.18%
ARM	F	3.87%
CNM	A	3.67%
PATH	F	2.73%
BZ	A	2.42%
DUOL	A	2.41%
CRBG	B	2.24%
YMM	A	2.17%
CFLT	F	2.1%
PCOR	D	2.06%
S	C	1.91%
MNDY	C	1.74%
RYAN	B	1.74%
DV	F	1.57%
EDR	A	1.55%
GFS	F	1.4%
HCP	A	1.17%
TPG	C	1.16%
GLBE	F	1.14%
FRSH	D	1.09%
DOCS	F	0.99%
MQ	D	0.93%
BRZE	F	0.82%
DOCN	C	0.75%
SQSP	B	0.74%
NUVL	C	0.65%
AGL	F	0.54%
YOU	F	0.53%
INFA	D	0.51%
BROS	F	0.5%
DLO	F	0.48%
BIRK	D	0.42%
PYCR	F	0.42%
FLNC	B	0.36%
PWSC	F	0.36%
ACT	A	0.32%
BLCO	F	0.19%
INST	F	0.14%

IPO Underweight 31 Positions Relative to FFND

Symbol	Grade	Weight
GOOGL	A	-10.12%
NVDA	C	-5.43%
LLY	B	-4.67%
CMG	A	-3.99%
GTLS	D	-3.96%
ABNB	C	-3.92%
UBER	D	-3.5%
HALO	C	-3.5%
CRM	D	-3.37%
GPRE	F	-3.11%
NFLX	D	-3.05%
KTOS	B	-2.95%
CELH	C	-2.91%
LULU	F	-2.82%
TSLA	C	-2.79%
LPLA	A	-2.74%
SCHW	A	-2.5%
DASH	D	-2.47%
FTI	B	-2.16%
ZTS	D	-2.13%
VRTX	C	-1.96%
WOLF	F	-1.96%
EW	D	-1.87%
ASML	D	-1.67%
PANW	B	-1.67%
MU	B	-1.47%
CIEN	D	-1.45%
BIDU	C	-1.39%
PWR	A	-1.16%
EXAS	F	-1.06%
YNDX	C	-0.62%