RULE vs. JPST ETF Comparison

Comparison of Adaptive Core ETF (RULE) to JPMorgan Ultra-Short Income ETF (JPST)

RULE

Adaptive Core ETF

RULE Description

Adaptive Core ETF seeks current income. The fund invests in individual equity securities without regard to market capitalization and ETFs that invest in equity securities of any market capitalization including convertible equity securities and fixed income ETFs. The fund’s portfolio may hold securities from issuers of any market capitalization, credit quality, maturity, or country. Fixed income securities may include securities with credit quality below investment grade (commonly referred to as “junk bond” credit quality).

Grade (RS Rating)

Last Trade

$21.75

Average Daily Volume

6,170

Number of Holdings ^*

* may have additional holdings in another (foreign) market

JPST

JPMorgan Ultra-Short Income ETF

JPST Description

The investment seeks to provide total return. Under normal circumstances, the fund will invest at least 80% of its assets in bonds. It will invest at least 40% of its assets in countries other than the United States. The fund may invest in developed or emerging markets. It generally invests at least 25% of its assets in securities that, at the time of purchase are rated investment grade or the unrated equivalent. "Assets" means net assets plus the amount of borrowings for investment purposes. The fund may also use currency related transactions involving currency derivatives as part of its primary investment strategy.

Grade (RS Rating)

Last Trade

$50.38

Average Daily Volume

4,424,760

Number of Holdings ^*

111

* may have additional holdings in another (foreign) market

Performance

Period	RULE	JPST
30 Days	0.14%	-0.30%
60 Days	-1.13%	0.30%
90 Days	3.97%	0.71%
12 Months	19.48%	4.36%

3 Overlapping Holdings

Symbol	Grade	Weight in RULE	Weight in JPST	Overlap
ARES	B	1.91%	0.03%	0.03%
BK	B	2.88%	0.01%	0.01%
IBM	C	2.54%	0.01%	0.01%

RULE Overweight 33 Positions Relative to JPST

Symbol	Grade	Weight
BIL	A	4.41%
JPST	B	4.39%
VEEV	B	3.43%
NOW	A	3.4%
ISRG	B	3.35%
CRM	A	3.3%
APO	B	3.11%
EQIX	B	3.1%
XLG	B	3.09%
SPHQ	C	3.09%
FCNCA	C	3.08%
ZS	C	2.97%
IWF	B	2.94%
AON	A	2.93%
SPGI	D	2.92%
CPAY	B	2.89%
CAH	B	2.88%
IRM	B	2.78%
HD	B	2.73%
RMD	A	2.72%
INTU	D	2.7%
PGR	D	2.69%
VRSK	B	2.62%
URI	B	2.62%
NFLX	A	2.55%
WMT	A	2.48%
REGN	F	2.48%
FTNT	B	2.41%
PAYX	B	2.24%
GPN	D	2.22%
VRT	B	2.22%
ADBE	F	1.93%
BLDR	F	0.0%

RULE Underweight 108 Positions Relative to JPST

Symbol	Grade	Weight
CASH	A	-2.2%
TMO	D	-0.74%
AZN	F	-0.57%
EQH	B	-0.35%
KDP	F	-0.31%
CCEP	D	-0.3%
ATO	B	-0.3%
MCD	C	-0.29%
LDOS	A	-0.26%
BXMT	C	-0.25%
SNX	C	-0.23%
TDY	B	-0.22%
HART	D	-0.19%
BA	F	-0.18%
D	B	-0.17%
OGS	C	-0.17%
VZ	D	-0.16%
ETR	A	-0.16%
T	A	-0.14%
CNP	C	-0.14%
GILD	A	-0.13%
DB	B	-0.13%
CAG	D	-0.13%
AAPL	C	-0.12%
SO	C	-0.11%
WFC	B	-0.11%
VTRS	B	-0.1%
GM	B	-0.1%
FITB	B	-0.1%
HUM	F	-0.09%
WEC	B	-0.09%
MLM	A	-0.09%
JBHT	A	-0.09%
IFF	D	-0.08%
STT	A	-0.08%
DT	B	-0.08%
CI	D	-0.08%
NEM	D	-0.08%
DUK	C	-0.08%
KR	A	-0.07%
CFG	A	-0.07%
BX	B	-0.07%
HSBC	A	-0.07%
SBUX	A	-0.06%
BG	F	-0.06%
ACR	C	-0.06%
SEB	F	-0.06%
XOM	C	-0.06%
AEP	D	-0.05%
MS	B	-0.05%
AL	B	-0.05%
BHF	B	-0.04%
ORCL	B	-0.04%
KKR	B	-0.04%
MDLZ	D	-0.04%
ABBV	A	-0.04%
COF	A	-0.04%
PL	B	-0.04%
CHD	B	-0.03%
R	A	-0.03%
ROP	D	-0.03%
NEE	D	-0.03%
BCC	D	-0.03%
BMO	B	-0.03%
HON	B	-0.02%
WLK	F	-0.02%
MSC	F	-0.02%
ETN	B	-0.02%
AZO	D	-0.02%
GSK	F	-0.02%
DIS	C	-0.02%
AER	C	-0.02%
BNS	B	-0.02%
EPD	A	-0.01%
ABT	A	-0.01%
PFE	D	-0.01%
ICE	C	-0.01%
MCO	D	-0.01%
DHR	D	-0.01%
CSL	C	-0.01%
BMY	A	-0.01%
PSX	F	-0.01%
SCHW	B	-0.01%
PNC	B	-0.01%
UNH	C	-0.01%
MMM	D	-0.01%
AXP	A	-0.01%
CAT	B	-0.01%
PM	A	-0.01%
HBAN	B	-0.01%
ES	D	-0.01%
JXN	B	-0.01%
MET	C	-0.01%
UBS	B	-0.01%
BAC	B	-0.01%
RY	B	-0.01%
TFC	C	-0.01%
DE	B	-0.01%
KEY	B	-0.01%
MUFG	A	-0.01%
GS	B	-0.01%
NWG	A	-0.01%
TD	F	-0.01%
PFG	C	-0.01%
CM	A	-0.01%
USB	B	-0.01%
C	A	-0.01%
AIG	B	-0.01%