RVER vs. KTEC ETF Comparison

Comparison of Advisor Managed Portfolios Trenchless Fund ETF (RVER) to KraneShares Hang Seng TECH Index ETF (KTEC)

RVER

Advisor Managed Portfolios Trenchless Fund ETF

RVER Description

RVER seeks to outperform the S&P 500 Index over all time horizons through a narrow exposure to the US equity market. The fund typically invests in approximately 12 to 30 US-listed stocks of any market capitalization. The portfolio construction starts by screening companies based on valuation metrics such as free cash flow, net income, EBITDA, and revenue. Securities are then assessed using growth factors, including top and bottom-line revenue and net income growth. This analysis seeks to exclude firms with negative outliers and those the sub-adviser believes are likely to miss earnings expectations. The remaining companies are screened based on a review of the number and size of institutional holders. After these three initial screens, the sub-adviser ranks and selects from the remaining companies based on its view of positive price change potential. As an actively managed fund, the sub-adviser has full discretion to make buy, sell, and hold decisions at any time.

Grade (RS Rating)

Last Trade

$29.30

Average Daily Volume

7,443

Number of Holdings ^*

* may have additional holdings in another (foreign) market

KTEC

KraneShares Hang Seng TECH Index ETF

KTEC Description

KTEC is passively managed to provide exposure to the 30 largest Chinese technology companies listed in Hong Kong. The fund selects companies headquartered and operating primarily in Greater China (Hong Kong, Macau, and Mainland China). Companies should be in the industrials, consumer discretionary, health care, financials, or information technology sectors. These companies should also display strong research and development investment and high revenue growth under the following themes: internet, fintech, cloud computing, e-commerce, and digital technology. KTEC primarily invests in H-shares, but also includes the other major share classes like A, B, and N-shares, red chips, P and S-chips. The index is market-cap-weighted with an 8% cap limit per individual security. Holdings are rebalanced quarterly and reconstituted at least semi-annually.

Grade (RS Rating)

Last Trade

$13.34

Average Daily Volume

35,651

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	RVER	KTEC
30 Days	7.79%	-4.18%
60 Days	12.17%	16.33%
90 Days	16.22%	22.73%
12 Months		8.37%

0 Overlapping Holdings

	Symbol	Grade	Weight in RVER	Weight in KTEC	Overlap

RVER Overweight 16 Positions Relative to KTEC

Symbol	Grade	Weight
LYFT	C	9.0%
GOOGL	C	6.26%
SNOW	B	5.29%
SNAP	D	5.18%
AMZN	C	5.02%
DKNG	B	4.84%
ULTA	F	4.69%
MSFT	D	4.47%
MRK	D	4.34%
WDAY	B	4.33%
SMCI	F	3.86%
NVDA	B	3.85%
SQ	A	3.81%
TSM	B	3.65%
PINS	F	3.48%
PANW	B	3.48%

RVER Underweight 8 Positions Relative to KTEC

Symbol	Grade	Weight
BABA	D	-7.31%
LI	F	-6.05%
TCOM	B	-4.38%
XPEV	C	-4.36%
BIDU	F	-3.09%
BILI	D	-2.57%
NIO	F	-0.27%
WB	D	-0.02%