LBO vs. PFF ETF Comparison

Comparison of WHITEWOLF Publicly Listed Private Equity ETF (LBO) to iShares US Preferred Stock ETF (PFF)

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

$34.00

Average Daily Volume

1,354

Number of Holdings ^*

* may have additional holdings in another (foreign) market

PFF

iShares US Preferred Stock ETF

PFF Description

The investment seeks to track the investment results of an index composed of U.S. preferred stocks. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. It seeks to track the investment results of the S&P U.S. Preferred Stock IndexTM (the "underlying index"), which measures the performance of a select group of preferred stocks listed on the New York Stock Exchange (" NYSE"), NYSE Arca, Inc. ("NYSE Arca"), NYSE Amex, NASDAQ Global Select Market, NASDAQ Select Market or NASDAQ Capital Market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$32.64

Average Daily Volume

3,786,026

Number of Holdings ^*

227

* may have additional holdings in another (foreign) market

Performance

Period	LBO	PFF
30 Days	4.04%	-1.37%
60 Days	10.46%	-1.53%
90 Days	17.24%	2.37%
12 Months		15.55%

12 Overlapping Holdings

Symbol	Grade	Weight in LBO	Weight in PFF	Overlap
APO	B	6.11%	0.4%	0.4%
ARES	A	5.23%	1.0%	1.0%
CG	B	5.12%	0.24%	0.24%
CION	C	0.74%	0.09%	0.09%
CODI	B	1.09%	0.06%	0.06%
GAIN	B	0.14%	0.08%	0.08%
KKR	A	8.25%	0.24%	0.24%
NMFC	D	1.33%	0.07%	0.07%
PSEC	D	2.42%	0.06%	0.06%
SAR	A	0.14%	0.06%	0.06%
TPG	A	6.64%	0.26%	0.26%
TRIN	A	1.43%	0.07%	0.07%

LBO Overweight 23 Positions Relative to PFF

Symbol	Grade	Weight
ARCC	A	6.95%
FSK	A	6.75%
OWL	A	6.37%
BX	A	6.26%
BXSL	A	6.1%
HTGC	D	4.76%
HLNE	B	3.14%
GBDC	D	3.07%
CSWC	D	2.31%
GSBD	F	2.08%
BBDC	A	1.83%
BCSF	C	1.67%
STEP	C	1.21%
PFLT	D	1.14%
TCPC	C	1.07%
CGBD	C	0.82%
TSLX	C	0.44%
GCMG	B	0.22%
SCM	B	0.2%
PNNT	C	0.2%
FDUS	A	0.16%
PX	A	0.14%
TPVG	B	0.14%

LBO Underweight 215 Positions Relative to PFF

Symbol	Grade	Weight
C	A	-1.68%
ALB	B	-1.35%
HPE	B	-1.13%
NEE	C	-1.08%
T	A	-0.88%
TBB	C	-0.79%
T	A	-0.64%
DUK	C	-0.62%
SOJD	D	-0.55%
TBC	C	-0.51%
SREA	D	-0.46%
RZC	C	-0.46%
NEE	C	-0.42%
JPM	A	-0.41%
CMSD	C	-0.38%
MET	A	-0.37%
JXN	C	-0.37%
SO	C	-0.37%
F	C	-0.37%
CHSCO	B	-0.36%
LNC	C	-0.35%
PRS	C	-0.35%
WCC	B	-0.35%
BTSG	C	-0.35%
SYF	B	-0.33%
CHSCL	B	-0.33%
BANC	B	-0.32%
GTLS	A	-0.32%
QRTEP	F	-0.32%
CTDD	B	-0.31%
DUKB	D	-0.31%
CHSCM	D	-0.31%
AXS	A	-0.31%
SCHW	B	-0.31%
WFC	A	-0.31%
STT	B	-0.31%
UZE	B	-0.29%
USM	B	-0.29%
FITBI	B	-0.29%
BAC	A	-0.28%
BPYPM	D	-0.28%
NLY	C	-0.27%
CHSCN	D	-0.27%
SOJC	D	-0.27%
PFH	D	-0.25%
RZB	C	-0.25%
MS	A	-0.25%
KEY	B	-0.25%
CFG	B	-0.24%
TDS	B	-0.23%
PBI	B	-0.23%
DTW	D	-0.23%
FG	A	-0.23%
HIG	B	-0.22%
NTRS	A	-0.22%
CHSCP	F	-0.22%
EAI	D	-0.22%
AGNCN	A	-0.21%
USB	A	-0.21%
FCNCA	A	-0.2%
RLJ	C	-0.2%
ESGRP	D	-0.2%
UNMA	C	-0.19%
ATHS	D	-0.19%
ACGLO	D	-0.19%
VOYA	B	-0.19%
RF	A	-0.19%
PRU	A	-0.19%
UMH	B	-0.18%
MGR	D	-0.18%
WTFCP	A	-0.18%
NGL	D	-0.18%
KREF	C	-0.17%
CMSC	C	-0.17%
TCBI	C	-0.16%
ALL	A	-0.16%
MTB	A	-0.16%
WAL	B	-0.16%
TVC	C	-0.15%
ELC	D	-0.15%
BHF	C	-0.15%
NRUC	D	-0.15%
NAVI	F	-0.15%
RNR	C	-0.15%
SR	A	-0.15%
GPJA	D	-0.15%
OZKAP	D	-0.15%
WAFD	B	-0.14%
FBRT	D	-0.14%
GL	C	-0.14%
AIZN	D	-0.14%
EQH	C	-0.14%
HPP	F	-0.14%
EMP	D	-0.14%
PNFP	B	-0.14%
AGNC	C	-0.14%
DBRG	F	-0.13%
SNV	C	-0.13%
DDT	B	-0.13%
KMI	A	-0.13%
NSA	C	-0.13%
WRB	A	-0.12%
TVE	C	-0.12%
EIX	B	-0.12%
SLMBP	C	-0.12%
VNO	C	-0.12%
GS	A	-0.12%
SLG	B	-0.12%
CMSA	C	-0.12%
KIM	A	-0.12%
FCNCO	C	-0.12%
FITB	B	-0.12%
SFB	D	-0.12%
SITC	D	-0.11%
LBRDP	C	-0.11%
AUB	B	-0.11%
CMS	C	-0.11%
DTE	C	-0.11%
HWC	B	-0.11%
AFGC	D	-0.11%
DLR	B	-0.11%
NYMTM	A	-0.11%
SIGI	C	-0.1%
WSBC	B	-0.1%
TRTX	C	-0.1%
SPLP	D	-0.1%
FULT	A	-0.1%
AFGE	D	-0.1%
RITM	C	-0.1%
VLY	B	-0.1%
DHC	F	-0.1%
TFC	A	-0.1%
SF	B	-0.1%
HBAN	A	-0.1%
CIM	D	-0.09%
AMG	B	-0.09%
KMPR	A	-0.09%
GPMT	C	-0.09%
CADE	B	-0.09%
ZIONO	D	-0.09%
ARR	D	-0.09%
AGNCL	B	-0.09%
AFGD	C	-0.09%
AHH	D	-0.09%
BNRE.A	A	-0.09%
BOH	B	-0.08%
CFR	B	-0.08%
QVCD	D	-0.08%
ATLC	A	-0.08%
TWO	F	-0.08%
CTVA	C	-0.08%
AFGB	C	-0.08%
LANDO	C	-0.08%
BC	C	-0.08%
NYMTL	A	-0.08%
ARGD	C	-0.08%
CNO	B	-0.08%
FRT	B	-0.08%
WTFCM	A	-0.08%
MBIN	F	-0.08%
WBS	A	-0.08%
NYMTN	D	-0.08%
ADC	A	-0.08%
RILY	F	-0.07%
PSA	C	-0.07%
ACR	A	-0.07%
ENO	D	-0.07%
AMH	C	-0.07%
BPOPM	C	-0.07%
PCG	A	-0.07%
CLDT	B	-0.07%
IVR	F	-0.07%
FCRX	A	-0.07%
ABR	C	-0.07%
CTO	B	-0.07%
MHNC	C	-0.07%
FTAI	A	-0.07%
ONB	C	-0.07%
PMT	C	-0.07%
VLYPP	A	-0.07%
NEWT	C	-0.07%
MFA	D	-0.07%
HTLF	B	-0.07%
REG	A	-0.07%
MSBI	B	-0.07%
DRH	B	-0.07%
EQC	B	-0.07%
FHN	A	-0.07%
SNCR	F	-0.07%
DX	B	-0.07%
RILYN	C	-0.06%
BFS	C	-0.06%
PEB	D	-0.06%
LXP	D	-0.06%
COF	C	-0.06%
CNOB	B	-0.06%
VLYPO	B	-0.06%
EFC	C	-0.06%
EPR	C	-0.06%
GNL	F	-0.06%
BW	D	-0.06%
BAC	A	-0.06%
DCOMP	D	-0.06%
FATBP	F	-0.05%
MHLA	B	-0.05%
CIO	C	-0.05%
INN	D	-0.05%
SHO	D	-0.05%
FOSL	C	-0.05%
ASB	B	-0.05%
RC	D	-0.05%
SLNHP	B	-0.04%
OPI	F	-0.04%
BHR	C	-0.03%
XELAP	F	-0.0%

LBO: Top Represented Industries & Keywords

Industries: Asset Management Conglomerates Credit Services Specialty Finance