MUSQ vs. WBIL ETF Comparison

Comparison of MUSQ Global Music Industry ETF (MUSQ) to WBI Large Cap Tactical Select Shares (WBIL)

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

$23.90

Average Daily Volume

1,596

Number of Holdings ^*

* may have additional holdings in another (foreign) market

WBIL

WBI Large Cap Tactical Select Shares

WBIL Description

The investment seeks long-term capital appreciation and the potential for current income, while also seeking to protect principal during unfavorable market conditions. The fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the equity securities of large capitalization domestic and foreign companies which WBI Investments, Inc., the sub-advisor to the fund and an affiliate of Millington Securities Inc., the advisor, believes display an attractive financial condition and prospects for ongoing financial stability, and up to 20% of its net assets in other tactical investment opportunities.

Grade (RS Rating)

Last Trade

$37.05

Average Daily Volume

1,621

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	MUSQ	WBIL
30 Days	1.59%	6.43%
60 Days	6.19%	8.70%
90 Days	1.42%	8.92%
12 Months	-0.05%	24.08%

3 Overlapping Holdings

Symbol	Grade	Weight in MUSQ	Weight in WBIL	Overlap
AAPL	C	4.79%	4.79%	4.79%
AMZN	C	5.56%	3.08%	3.08%
SPOT	B	4.87%	0.98%	0.98%

MUSQ Overweight 12 Positions Relative to WBIL

Symbol	Grade	Weight
GOOGL	C	5.31%
SONY	B	4.82%
IHRT	C	4.05%
LYV	A	3.75%
SONO	C	3.25%
WMG	C	3.24%
EDR	A	3.1%
DLB	B	3.09%
TSQ	D	3.05%
TME	D	2.96%
MSGE	F	2.75%
RSVR	A	1.41%

MUSQ Underweight 37 Positions Relative to WBIL

Symbol	Grade	Weight
SCHW	B	-5.19%
CRWD	B	-4.95%
EA	A	-4.94%
AMP	A	-4.93%
MRVL	B	-4.54%
FI	A	-4.35%
LULU	C	-4.23%
TPL	A	-4.13%
CRM	B	-4.06%
UBER	D	-3.66%
URI	B	-3.61%
NVDA	C	-3.46%
CPAY	A	-3.21%
BX	A	-2.73%
FICO	B	-2.23%
BR	A	-2.17%
INTU	C	-2.15%
PWR	A	-2.11%
COST	B	-1.94%
RMD	C	-1.88%
SBUX	A	-1.84%
PANW	C	-1.75%
TYL	B	-1.74%
EME	C	-1.46%
NFLX	A	-1.11%
FAST	B	-1.06%
PH	A	-1.02%
PAYX	C	-1.0%
TJX	A	-0.95%
META	D	-0.91%
TT	A	-0.87%
AGZD	A	-0.74%
FLTR	A	-0.73%
FALN	B	-0.72%
FTSL	B	-0.67%
STIP	C	-0.52%
BKLN	A	-0.32%