SMRI vs. QVAL ETF Comparison

Comparison of Bushido Capital US Equity ETF (SMRI) to ValueShares U.S. Quantitative Value ETF (QVAL)

SMRI

Bushido Capital US Equity ETF

SMRI Description

The fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of the fund"s net assets (plus the amount of any borrowings for investment purposes) in U.S. listed common stock.

Grade (RS Rating)

Last Trade

$33.54

Average Daily Volume

5,628

Number of Holdings ^*

* may have additional holdings in another (foreign) market

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

$46.73

Average Daily Volume

18,437

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	SMRI	QVAL
30 Days	10.48%	4.01%
60 Days	9.99%	2.30%
90 Days	11.21%	4.43%
12 Months	34.42%	26.73%

9 Overlapping Holdings

Symbol	Grade	Weight in SMRI	Weight in QVAL	Overlap
CNC	D	1.46%	1.87%	1.46%
DAL	C	2.56%	2.1%	2.1%
ELV	F	1.43%	1.9%	1.43%
JBL	B	2.11%	2.02%	2.02%
LEN	D	1.71%	1.92%	1.71%
MOH	F	1.64%	1.76%	1.64%
SNA	A	2.33%	2.1%	2.1%
UTHR	C	2.0%	1.98%	1.98%
WSM	B	1.59%	1.97%	1.59%

SMRI Overweight 41 Positions Relative to QVAL

Symbol	Grade	Weight
APP	B	4.07%
DOCU	A	2.55%
MCK	B	2.34%
EXPE	B	2.33%
VST	B	2.32%
EPAM	C	2.28%
BKNG	A	2.22%
ZM	B	2.2%
PCAR	B	2.16%
EME	C	2.14%
HPE	B	2.1%
GEN	B	2.07%
OC	A	2.07%
CAH	B	2.04%
CVX	A	2.04%
FFIV	B	2.03%
PYPL	B	2.03%
PAYX	C	2.03%
COR	B	2.0%
EG	C	1.97%
EOG	A	1.97%
VLO	C	1.94%
NRG	B	1.93%
ABNB	C	1.91%
XOM	B	1.91%
BWA	D	1.89%
SLB	C	1.87%
FANG	D	1.84%
NUE	C	1.81%
QCOM	F	1.81%
LKQ	D	1.79%
MPC	D	1.79%
NTAP	C	1.79%
DVN	F	1.78%
NVR	D	1.76%
CI	F	1.71%
BLD	D	1.68%
BG	F	1.68%
AMGN	D	1.68%
PHM	D	1.68%
MRK	F	1.58%

SMRI Underweight 41 Positions Relative to QVAL

Symbol	Grade	Weight
TPR	B	-2.28%
BKR	B	-2.26%
UAL	A	-2.22%
MO	A	-2.19%
TAP	C	-2.18%
FTI	A	-2.15%
ALSN	B	-2.14%
HES	B	-2.14%
FOXA	B	-2.12%
LRN	A	-2.12%
GTES	A	-2.11%
WFRD	D	-2.07%
TGT	F	-2.07%
URBN	C	-2.06%
SM	B	-2.06%
ANF	C	-2.05%
SIG	B	-2.02%
CTSH	B	-2.02%
TOL	B	-2.01%
MHK	D	-2.0%
HPQ	B	-2.0%
CMCSA	B	-1.99%
MMM	D	-1.99%
TEX	D	-1.99%
CAT	B	-1.97%
HRB	D	-1.96%
CVS	D	-1.95%
GPK	C	-1.95%
BBY	D	-1.94%
DKS	C	-1.94%
CNH	C	-1.9%
THC	D	-1.89%
OMC	C	-1.89%
LYB	F	-1.88%
FCX	D	-1.87%
UHS	D	-1.87%
CRI	D	-1.85%
IPG	D	-1.8%
MAT	D	-1.78%
ASO	F	-1.76%
CROX	D	-1.7%