MUSQ vs. FMCX ETF Comparison

Comparison of MUSQ Global Music Industry ETF (MUSQ) to FMC Excelsior Focus Equity ETF (FMCX)

MUSQ

MUSQ Global Music Industry ETF

MUSQ Description

The index is comprised of publicly-traded global companies that generate at least 50% of their annual revenue or $1 billion in annual sales from one or more of the sub-segments of the global music industry. Under normal circumstances, the fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities of Global Music Investments. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$23.78

Average Daily Volume

1,557

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FMCX

FMC Excelsior Focus Equity ETF

FMCX Description

The fund is an actively managed exchange-traded fund (?ETF?) that, during normal market conditions, seeks to invest in approximately 25-30 U.S. exchange-traded common stocks of companies that are listed on U.S. national securities exchanges and trade contemporaneously with the shares of the fund. The fund adviser may also hold concentrated positions in common stocks, although the fund?s guidelines provide that no single investment should generally be more than 10% of the fund?s portfolio at acquisition. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$31.80

Average Daily Volume

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	MUSQ	FMCX
30 Days	2.41%	0.15%
60 Days	5.95%	2.99%
90 Days	2.66%	6.20%
12 Months	0.60%	25.02%

3 Overlapping Holdings

Symbol	Grade	Weight in MUSQ	Weight in FMCX	Overlap
AAPL	C	4.79%	6.93%	4.79%
AMZN	B	5.56%	5.01%	5.01%
GOOGL	B	5.31%	1.77%	1.77%

MUSQ Overweight 12 Positions Relative to FMCX

Symbol	Grade	Weight
SPOT	A	4.87%
SONY	B	4.82%
IHRT	C	4.05%
LYV	A	3.75%
SONO	C	3.25%
WMG	B	3.24%
EDR	A	3.1%
DLB	B	3.09%
TSQ	F	3.05%
TME	D	2.96%
MSGE	F	2.75%
RSVR	A	1.41%

MUSQ Underweight 49 Positions Relative to FMCX

Symbol	Grade	Weight
UNH	B	-6.84%
KKR	B	-6.14%
IAC	D	-5.35%
GDDY	A	-4.98%
MSFT	D	-4.79%
LBRDK	C	-4.24%
LSXMK	D	-4.22%
GGG	B	-3.98%
PYPL	B	-3.9%
MTCH	F	-3.18%
LSXMA	D	-1.79%
LBRDA	C	-1.74%
PG	C	-1.3%
PM	A	-1.21%
YUM	D	-1.18%
CMCSA	B	-1.13%
MCD	D	-1.12%
AMGN	D	-1.11%
KEYS	A	-1.06%
VUSB	A	-0.92%
ICSH	A	-0.92%
GILD	B	-0.87%
CL	D	-0.85%
MO	A	-0.84%
ENTG	F	-0.82%
ARWR	D	-0.72%
NKE	F	-0.68%
HON	B	-0.6%
DHR	D	-0.55%
GOOG	B	-0.5%
BAX	F	-0.47%
YUMC	B	-0.42%
MUSA	B	-0.4%
SPGI	D	-0.37%
MTX	C	-0.33%
KEX	A	-0.33%
EQR	C	-0.3%
JPM	B	-0.3%
MUR	D	-0.25%
V	A	-0.21%
FWONK	A	-0.21%
BKNG	A	-0.19%
FLWS	D	-0.15%
GD	D	-0.13%
BATRK	D	-0.11%
PNR	B	-0.1%
FWONA	A	-0.05%
VMEO	B	-0.03%
BATRA	F	-0.02%