QVAL vs. COWS ETF Comparison

Comparison of ValueShares U.S. Quantitative Value ETF (QVAL) to Amplify Cash Flow Dividend Leaders ETF (COWS)

QVAL

ValueShares U.S. Quantitative Value ETF

QVAL Description

The investment seeks long-term capital appreciation. The fund is an actively managed ETF. Under normal circumstances, it seeks to achieve its investment objective by investing primarily in U.S. equity securities that the Adviser believes, based on quantitative analysis, are undervalued at the time of purchase and have the potential for capital appreciation. The fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in securities of U.S. companies. It will invest primarily in the exchange-listed common stock of U.S. companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$45.21

Average Daily Volume

18,385

Number of Holdings ^*

* may have additional holdings in another (foreign) market

COWS

Amplify Cash Flow Dividend Leaders ETF

COWS Description

COWS is an index tracking fund utilizing a replication strategy. The index strategy aims to invest in US stocks of companies perceived to be stable and pay dividends. The starting investment universe considers the 1000 most liquid US-listed companies, excluding the financial sector. Filtering this universe, the 100 highest ranked free cash flow yielding stocks, as measured by equally weighting the stocks average trailing and forward cash flow yield. Companies with no forward estimates for free cash flow yields or earnings are removed. The investment universe is then filtered to identify dividend paying stocks with three years of uninterrupted dividend growth. Stocks with a payout ratio greater than 75% are eliminated. The top 10% of dividend yielding stocks are selected for the index. This process results in 40-100 stocks being selected and initially equally weighted in the index. Industry exposure is capped at 24%. Index holdings are reconstituted and rebalanced on a quarterly basis.

Grade (RS Rating)

Last Trade

$29.24

Average Daily Volume

7,015

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	QVAL	COWS
30 Days	-2.53%	-1.62%
60 Days	-0.81%	-0.72%
90 Days	4.11%	4.59%
12 Months	23.80%	23.96%

11 Overlapping Holdings

Symbol	Grade	Weight in QVAL	Weight in COWS	Overlap
ALSN	A	2.03%	1.93%	1.93%
ASO	F	1.94%	1.77%	1.77%
CMCSA	A	2.04%	2.58%	2.04%
DVN	F	2.0%	1.53%	1.53%
IPG	F	1.95%	1.32%	1.32%
OC	B	2.12%	2.68%	2.12%
SM	F	2.05%	2.06%	2.05%
SNA	A	2.27%	2.85%	2.27%
T	A	2.06%	1.66%	1.66%
TPR	A	1.92%	2.19%	1.92%
WSM	F	1.84%	2.33%	1.84%

QVAL Overweight 39 Positions Relative to COWS

Symbol	Grade	Weight
DAL	A	2.28%
ANF	F	2.24%
GTES	A	2.16%
PCAR	C	2.15%
UHS	D	2.12%
WCC	A	2.12%
TEX	F	2.09%
JBL	A	2.08%
KR	A	2.08%
GPK	D	2.07%
HPQ	B	2.06%
DKS	F	2.05%
CRI	F	2.05%
CNH	A	2.03%
UFPI	C	2.03%
BKR	A	2.03%
CTSH	D	2.02%
FOXA	A	2.02%
TAP	D	2.02%
SIG	C	2.01%
MO	A	2.0%
OMC	B	2.0%
THC	C	1.97%
URBN	F	1.95%
TOL	C	1.95%
HRB	D	1.95%
WFRD	F	1.92%
MPC	F	1.91%
FCX	D	1.91%
LYB	F	1.89%
SKX	D	1.89%
MAT	A	1.89%
CROX	F	1.88%
CI	D	1.86%
CVS	F	1.85%
LBRT	F	1.77%
MOH	D	1.67%
ELV	F	1.67%
CNC	D	1.66%

QVAL Underweight 42 Positions Relative to COWS

Symbol	Grade	Weight
VST	B	-3.66%
BC	C	-2.54%
TKR	C	-2.52%
CF	B	-2.49%
FNF	C	-2.47%
EBAY	D	-2.44%
SLB	F	-2.4%
MRO	C	-2.38%
G	C	-2.35%
HAL	F	-2.34%
FDX	C	-2.27%
SWKS	F	-2.09%
NXST	A	-2.09%
PARA	C	-2.02%
BMY	A	-1.96%
PVH	C	-1.96%
PTEN	F	-1.9%
BEN	B	-1.83%
VLO	F	-1.83%
MUR	F	-1.75%
NOV	F	-1.74%
MGY	C	-1.71%
GAP	D	-1.68%
BBWI	F	-1.67%
PR	F	-1.65%
OGN	D	-1.56%
MTDR	D	-1.56%
AEO	F	-1.51%
OLN	F	-1.46%
BWA	D	-1.38%
TMUS	B	-1.38%
LEA	F	-1.38%
AYI	A	-1.34%
VNT	B	-1.33%
CSCO	B	-1.32%
DNB	B	-1.31%
RL	B	-1.29%
OSK	C	-1.28%
MCK	C	-1.24%
SAIC	A	-1.23%
INGR	C	-1.17%
ENS	F	-1.17%