LSAF vs. CVSE ETF Comparison

Comparison of LeaderShares AlphaFactor US Core Equity ETF (LSAF) to Calvert US Select Equity ETF (CVSE)

LSAF

LeaderShares AlphaFactor US Core Equity ETF

LSAF Description

The investment seeks to provide investment results that correspond generally, before fees and expenses, to the performance of the AlphaFactor® US Core Equity Index. Under normal circumstances, at least 80% of the fund's net assets, including any borrowings for investment purposes, will be invested in a diversified portfolio of equity securities of U.S. common stocks included in the index. The index utilizes a quantitative rules-based investment methodology that applies a multi-factor ranking process and is focused on the largest 1,000 U.S. common stocks based on market capitalization.

Grade (RS Rating)

Last Trade

$43.63

Average Daily Volume

11,395

Number of Holdings ^*

* may have additional holdings in another (foreign) market

CVSE

Calvert US Select Equity ETF

CVSE Description

Under normal circumstances, at least 80% of the fund"s net assets (plus any borrowings for investment purposes) will be invested in the equity securities of U.S. issuers. The fund is actively managed, not designed to track a benchmark, and therefore not constrained by the composition of a benchmark. The fund primarily invests in the equity securities of large capitalization U.S. issuers that are involved in economic activities that address global environmental or societal challenges that relate to areas such as environmental sustainability and resource efficiency.

Grade (RS Rating)

Last Trade

$70.50

Average Daily Volume

945

Number of Holdings ^*

178

* may have additional holdings in another (foreign) market

Performance

Period	LSAF	CVSE
30 Days	5.32%	2.61%
60 Days	6.52%	4.06%
90 Days	9.24%	5.46%
12 Months	34.17%	30.71%

17 Overlapping Holdings

Symbol	Grade	Weight in LSAF	Weight in CVSE	Overlap
AAPL	C	0.93%	6.81%	0.93%
AXP	A	1.03%	0.88%	0.88%
CAT	B	0.94%	0.94%	0.94%
CMI	A	1.08%	1.11%	1.08%
DVA	B	0.95%	0.17%	0.17%
EBAY	D	0.89%	0.36%	0.36%
FICO	B	1.14%	0.05%	0.05%
FIS	C	0.97%	0.16%	0.16%
GM	B	1.17%	1.04%	1.04%
HIG	B	0.97%	0.21%	0.21%
LOW	D	0.93%	0.75%	0.75%
MET	A	0.98%	1.14%	0.98%
MTG	C	0.92%	0.15%	0.15%
PLNT	A	1.16%	0.09%	0.09%
PRI	A	1.06%	0.24%	0.24%
RL	B	1.01%	0.09%	0.09%
SPGI	C	0.94%	2.01%	0.94%

LSAF Overweight 82 Positions Relative to CVSE

Symbol	Grade	Weight
TRGP	B	1.34%
VST	B	1.32%
EXEL	B	1.27%
SYF	B	1.24%
UNM	A	1.21%
OWL	A	1.19%
AAON	B	1.18%
BKNG	A	1.17%
EXPE	B	1.17%
FI	A	1.15%
DUOL	A	1.15%
FTNT	C	1.15%
AMP	A	1.15%
NTNX	A	1.14%
GS	A	1.14%
CPAY	A	1.13%
STLD	B	1.09%
LOPE	B	1.08%
MAR	B	1.08%
TMUS	B	1.08%
WSO	A	1.05%
EQH	B	1.05%
GWRE	A	1.04%
RS	B	1.04%
MO	A	1.04%
FOXA	B	1.04%
WRB	A	1.04%
HLT	A	1.03%
JBL	B	1.03%
MUSA	A	1.02%
ORI	A	1.02%
GEN	B	1.02%
EXP	A	1.01%
AMG	B	1.0%
LPX	B	1.0%
EEFT	B	1.0%
BR	A	1.0%
ORLY	B	0.99%
LNW	D	0.99%
REG	B	0.98%
AIG	B	0.98%
H	B	0.97%
IT	C	0.97%
UTHR	C	0.97%
WWD	B	0.96%
GOOGL	C	0.96%
PSX	C	0.95%
AFL	B	0.95%
COLM	B	0.93%
POST	C	0.93%
MPC	D	0.93%
PVH	C	0.93%
TOL	B	0.93%
CSL	C	0.93%
AZO	C	0.92%
SNX	C	0.92%
GPK	C	0.92%
PSN	D	0.91%
SPB	C	0.9%
COKE	C	0.9%
TXT	D	0.9%
CI	F	0.9%
AN	C	0.89%
MAS	D	0.88%
DD	D	0.88%
LMT	D	0.88%
NSA	D	0.87%
KBR	F	0.87%
NVR	D	0.86%
LEN	D	0.85%
SAIC	F	0.85%
THC	D	0.85%
BLDR	D	0.85%
BLD	D	0.84%
HRB	D	0.84%
PHM	D	0.84%
MHK	D	0.81%
FBIN	D	0.8%
HCA	F	0.78%
WMS	D	0.77%
MTD	D	0.76%
CROX	D	0.67%

LSAF Underweight 161 Positions Relative to CVSE

Symbol	Grade	Weight
NVDA	C	-7.98%
MSFT	F	-7.68%
LLY	F	-2.63%
ACN	C	-1.81%
MRK	F	-1.73%
PH	A	-1.66%
NFLX	A	-1.55%
MA	C	-1.54%
V	A	-1.44%
ETN	A	-1.42%
HD	A	-1.33%
DIS	B	-1.24%
VRSK	A	-1.21%
NOW	A	-1.11%
CRM	B	-1.09%
PGR	A	-1.06%
ICE	C	-1.0%
GIS	D	-0.91%
VZ	C	-0.9%
ADP	B	-0.84%
TT	A	-0.84%
BSX	B	-0.82%
PRU	A	-0.76%
CSCO	B	-0.75%
AMGN	D	-0.73%
TRV	B	-0.72%
INTU	C	-0.7%
TFC	A	-0.7%
ECL	D	-0.69%
AMAT	F	-0.69%
CBRE	B	-0.69%
URI	B	-0.68%
AWK	D	-0.67%
ADBE	C	-0.67%
OMC	C	-0.65%
LIN	D	-0.64%
ES	D	-0.64%
PLD	D	-0.63%
AMT	D	-0.63%
SCHW	B	-0.62%
SHW	A	-0.61%
NUE	C	-0.61%
ITW	B	-0.58%
TGT	F	-0.56%
CFG	B	-0.55%
DFS	B	-0.55%
HPE	B	-0.55%
AMD	F	-0.52%
DE	A	-0.52%
ED	D	-0.49%
TXN	C	-0.48%
COF	B	-0.47%
EMR	A	-0.47%
HUM	C	-0.45%
JLL	D	-0.43%
CDNS	B	-0.43%
BMY	B	-0.41%
BALL	D	-0.4%
SJM	D	-0.4%
STT	A	-0.4%
NDAQ	A	-0.4%
RMD	C	-0.38%
TJX	A	-0.37%
LULU	C	-0.36%
ADSK	A	-0.36%
STE	F	-0.36%
MU	D	-0.35%
FITB	A	-0.35%
DHR	F	-0.35%
MKC	D	-0.34%
GILD	C	-0.34%
PYPL	B	-0.32%
DRI	B	-0.31%
ROK	B	-0.31%
A	D	-0.31%
HUBS	A	-0.31%
QCOM	F	-0.3%
CLX	B	-0.3%
IDXX	F	-0.3%
MORN	B	-0.3%
ULTA	F	-0.29%
EW	C	-0.29%
HBAN	A	-0.28%
HOLX	D	-0.28%
WDAY	B	-0.28%
TSCO	D	-0.28%
MOS	F	-0.28%
PFE	D	-0.27%
HPQ	B	-0.27%
PNR	A	-0.26%
IPG	D	-0.26%
INTC	D	-0.26%
HAS	D	-0.26%
ALNY	D	-0.25%
NKE	D	-0.25%
BBY	D	-0.24%
MTN	C	-0.23%
DAR	C	-0.23%
EL	F	-0.22%
MSA	D	-0.22%
SNPS	B	-0.22%
EXPD	D	-0.22%
BFAM	D	-0.21%
MSI	B	-0.21%
VRTX	F	-0.2%
TPR	B	-0.2%
WSM	B	-0.2%
DECK	A	-0.2%
DELL	C	-0.19%
KLAC	D	-0.19%
TROW	B	-0.19%
RF	A	-0.19%
FMC	D	-0.18%
EQR	B	-0.18%
WAT	B	-0.18%
CTAS	B	-0.18%
SCI	B	-0.18%
KNX	B	-0.18%
FCN	D	-0.16%
EXR	D	-0.15%
LRCX	F	-0.15%
PANW	C	-0.15%
AKAM	D	-0.14%
XYL	D	-0.14%
VTR	C	-0.14%
CNM	D	-0.14%
TWLO	A	-0.12%
NEE	D	-0.11%
GAP	C	-0.11%
G	B	-0.11%
EXAS	D	-0.1%
SNOW	C	-0.1%
BXP	D	-0.1%
MSCI	C	-0.1%
REGN	F	-0.1%
EA	A	-0.1%
CHD	B	-0.1%
GPC	D	-0.09%
IQV	D	-0.09%
TTEK	F	-0.09%
SWK	D	-0.09%
VRSN	F	-0.08%
MAN	D	-0.08%
PODD	C	-0.08%
CSGP	D	-0.08%
PCTY	B	-0.08%
BRX	A	-0.06%
DKS	C	-0.06%
KEY	B	-0.06%
RKT	F	-0.06%
HST	C	-0.05%
LITE	B	-0.05%
VLTO	D	-0.05%
ON	D	-0.05%
CIEN	B	-0.05%
FSLR	F	-0.04%
RHI	B	-0.04%
ETSY	D	-0.03%
CPRT	A	-0.03%
HXL	D	-0.03%
MRNA	F	-0.02%