LBO vs. AMID ETF Comparison

Comparison of WHITEWOLF Publicly Listed Private Equity ETF (LBO) to Argent Mid Cap ETF (AMID)

LBO

WHITEWOLF Publicly Listed Private Equity ETF

LBO Description

The fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in securities of U.S. publicly listed private equity companies. It defines "listed private equity companies" as Leverage Finance Providers and Buyout Firms, Sponsors, and Asset Managers (collectively, "Listed Private Equity Companies") that are listed and traded on a U.S. national securities exchange. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$34.05

Average Daily Volume

1,354

Number of Holdings ^*

* may have additional holdings in another (foreign) market

AMID

Argent Mid Cap ETF

AMID Description

AMID aims to outperform the Russell MidCap Index over the long term by applying Change-Based Investing strategies. The fund actively invests in stocks undergoing positive internal or external change, which the issuer believes could lead to underappreciated growth. The starting universe begins with 1,500 US mid-cap stocks that are screened for liquidity and grouped by sector. Using their proprietary Argent Alpha Model, stocks are ranked under four main categories: Value, Growth, Quality, and Stability. Stocks within each sector with positive exposure to outperforming factors are considered. The remaining companies are grouped into current and future market segments based on expected outperformance in the current or future market cycle. Finally, the fund uses fundamental analysis to select 35-50 stocks with prospect improvements at the company or industry level. Sectors may be overweighted at various times in the economic cycle. Individual securities are capped at 8%.

Grade (RS Rating)

Last Trade

$36.72

Average Daily Volume

7,812

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	LBO	AMID
30 Days	4.19%	4.32%
60 Days	10.63%	3.96%
90 Days	17.42%	4.88%
12 Months		34.06%

1 Overlapping Holdings

	Symbol	Grade	Weight in LBO	Weight in AMID	Overlap
	CG	B	5.12%	2.05%	2.05%

LBO Overweight 34 Positions Relative to AMID

Symbol	Grade	Weight
KKR	A	8.25%
ARCC	A	6.95%
FSK	A	6.75%
TPG	A	6.64%
OWL	A	6.37%
BX	A	6.26%
APO	B	6.11%
BXSL	A	6.1%
ARES	A	5.23%
HTGC	D	4.76%
HLNE	B	3.14%
GBDC	D	3.07%
PSEC	D	2.42%
CSWC	D	2.31%
GSBD	F	2.08%
BBDC	A	1.83%
BCSF	C	1.67%
TRIN	A	1.43%
NMFC	D	1.33%
STEP	C	1.21%
PFLT	D	1.14%
CODI	B	1.09%
TCPC	C	1.07%
CGBD	C	0.82%
CION	C	0.74%
TSLX	C	0.44%
GCMG	A	0.22%
SCM	B	0.2%
PNNT	C	0.2%
FDUS	A	0.16%
GAIN	B	0.14%
SAR	A	0.14%
PX	A	0.14%
TPVG	B	0.14%

LBO Underweight 36 Positions Relative to AMID

Symbol	Grade	Weight
FICO	B	-3.79%
CTAS	B	-3.66%
CPRT	B	-3.56%
BLDR	D	-3.43%
FTNT	C	-3.34%
HLI	A	-3.2%
CBZ	B	-2.93%
LPLA	A	-2.87%
CDW	F	-2.86%
VCTR	B	-2.86%
DHI	F	-2.85%
IT	C	-2.83%
MEDP	D	-2.69%
MUSA	B	-2.63%
HCA	F	-2.49%
BAH	F	-2.45%
BLD	D	-2.43%
OMF	A	-2.4%
URI	C	-2.35%
AFG	A	-2.28%
GDDY	A	-2.24%
A	D	-2.12%
ADUS	D	-2.09%
SCI	B	-2.05%
TPX	B	-1.99%
AME	A	-1.98%
ICFI	F	-1.93%
LNG	A	-1.69%
CHDN	B	-1.57%
ABG	C	-1.55%
ENTG	D	-1.52%
MOH	F	-1.44%
PATK	C	-1.35%
TTEK	F	-1.33%
AX	B	-1.11%
EXPO	D	-0.99%

LBO: Top Represented Industries & Keywords

Industries: Asset Management Conglomerates Credit Services Specialty Finance