IZRL vs. ECOW ETF Comparison

Comparison of ARK Israel Innovative Technology ETF (IZRL) to Pacer Emerging Markets Cash Cows 100 ETF (ECOW)

IZRL

ARK Israel Innovative Technology ETF

IZRL Description

The ARK Israel Innovative Technology ETF (IZRL) seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the ARK Israeli Innovation Index, which is designed to track the price movements of exchange-listed Israeli companies whose main business operations are causing disruptive innovation in the areas of genomics, health care, biotechnology, industrials, manufacturing, the Internet or information technology. The Index includes equity securities and depositary receipts of exchange listed companies that are incorporated and/or domiciled in Israel (‘‘Israeli Companies’’) and are included in one of the following economic sectors as defined by FactSet Research Systems: (i) health technology, (ii) communications, (iii) technology services, (iv) electronic technology, (v) consumer services, or (vi) producer manufacturing.

Grade (RS Rating)

Last Trade

$19.82

Average Daily Volume

21,544

Number of Holdings ^*

* may have additional holdings in another (foreign) market

ECOW

Pacer Emerging Markets Cash Cows 100 ETF

ECOW Description

The investment seeks to track the total return performance, before fees and expenses, of the Pacer US Cash Cows 100 Index (the "index"). Under normal circumstances, at least 80% of the fund's total assets (exclusive of collateral held from securities lending) will be invested in the component securities of the index. The index uses an objective, rules-based methodology to provide exposure to large and mid-capitalization U.S. companies with high free cash flow yields. Companies with high free cash flow yields are commonly referred to as "cash cows". The fund is non-diversified.

Grade (RS Rating)

Last Trade

$21.19

Average Daily Volume

24,901

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	IZRL	ECOW
30 Days	-4.85%	4.03%
60 Days	-7.08%	7.76%
90 Days	0.97%	9.60%
12 Months	16.93%	15.83%

0 Overlapping Holdings

	Symbol	Grade	Weight in IZRL	Weight in ECOW	Overlap

IZRL Overweight 24 Positions Relative to ECOW

Symbol	Grade	Weight
PLTK	C	2.32%
TEVA	A	2.27%
RSKD	B	2.25%
CLBT	D	2.22%
FROG	D	2.22%
FVRR	F	2.21%
AUDC	D	2.21%
MGIC	B	2.21%
CGNT	D	2.2%
MNDY	D	2.19%
ITRN	D	2.18%
RDWR	F	2.18%
SPNS	B	2.17%
NNOX	D	2.15%
CYBR	D	2.15%
URGN	F	2.15%
TARO	B	2.14%
INMD	F	2.11%
WKME	D	2.1%
SSYS	F	2.09%
WIX	D	2.07%
SMWB	D	2.07%
NICE	D	2.05%
CHKP	D	2.01%

IZRL Underweight 10 Positions Relative to ECOW

Symbol	Grade	Weight
JD	B	-2.0%
BABA	B	-1.96%
ABEV	D	-1.55%
VALE	D	-1.54%
VIV	C	-1.51%
TLK	F	-1.23%
KOF	A	-1.18%
CIG	A	-0.88%
ASR	B	-0.72%
GGB	D	-0.68%