SPXZ vs. SPAK ETF Comparison

Comparison of Morgan Creek - Exos SPAC Originated ETF (SPXZ) to Defiance Next Gen SPAC Derived ETF (SPAK)

SPXZ

Morgan Creek - Exos SPAC Originated ETF

SPXZ Description

SPXZ seeks to provide investors with liquid and transparent exposure to an actively managed portfolio of the “companies of the future” being launched via SPACs with the ultimate objective of seeking capital appreciation. • SPXZ seeks to provide a broad exposure to a cross-section of these companies, by targeting the largest 50 pre- and post-combination SPACs as measured by market capitalization. • SPXZ is actively managed with the goal of limiting exposure to poor performance companies. • SPXZ targets equal dollar weights of a portfolio of companies so no one company can have an outside effect on risk and return.

Grade (RS Rating)

Last Trade

$20.37

Average Daily Volume

77,312

Number of Holdings ^*

* may have additional holdings in another (foreign) market

SPAK

Defiance Next Gen SPAC Derived ETF

SPAK Description

Picking the winners of individual SPACs can be very difficult, however the ETF structure allows investors to access the most liquid SPAC IPOs in a diversified basket. SPAK allows both financial advisors and retail investors to participate in an IPO private equity style of investing which is usually only available to large financial institutions. The ETF currently has 29 holdings, rebalanced on a quarterly basis. An 80% weighting is applied to IPO companies derived from SPACs and 20% is allocated to common stock of newly listed Special Purpose Acquisition Companies ("SPACs"), ex-warrants. Newly IPO companies derived from SPACs will be screened monthly and SPACs quarterly.

Grade (RS Rating)

Last Trade

$25.84

Average Daily Volume

178,191

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

	SPXZ	SPAK
30 Days	-16.86%	-15.03%
60 Days	-25.22%	-24.66%
90 Days		-15.97%
12 Months

27 Overlapping Holdings

Grade	Symbol	Weight in SPXZ	Weight in SPAK	Overlap
F	AACQ	0.71%	0.51%	0.51%
D	AHCO	1.59%	0.85%	0.85%
F	APXT	0.69%	0.28%	0.28%
A	BRMK	1.62%	0.66%	0.66%
F	CCIV	0.6%	3.53%	0.6%
F	CCX	0.66%	0.46%	0.46%
F	DGNR	0.7%	0.49%	0.49%
D	DKNG	1.6%	10.47%	1.6%
B	DMYD	0.82%	0.43%	0.43%
F	ETAC	0.66%	0.42%	0.42%
F	FTOC	0.68%	0.7%	0.68%
D	GOAC	0.66%	0.4%	0.4%
F	GSAH	0.67%	0.57%	0.57%
F	HEC	0.7%	0.29%	0.29%
D	JWS	0.64%	0.66%	0.64%
D	LPRO	1.59%	1.82%	1.59%
C	OSW	1.63%	0.21%	0.21%
F	PRPB	0.66%	0.56%	0.56%
F	PSTH	0.69%	4.42%	0.69%
F	RBAC	0.66%	0.4%	0.4%
F	SAII	1.62%	0.12%	0.12%
D	SPCE	1.59%	2.16%	1.59%
F	SRAC	0.63%	0.14%	0.14%
D	SSPK	0.66%	0.31%	0.31%
F	TTCF	1.56%	0.26%	0.26%
A	VRT	1.61%	2.58%	1.61%
F	WPF	0.66%	0.73%	0.66%

SPXZ Overweight 2 Positions Relative to SPAK

Grade	Symbol	Weight
B	MGY	1.74%
D	VRRM	1.65%

SPXZ Underweight 49 Positions Relative to SPAK

Grade	Symbol	Weight
D	CLVT	-3.52%
F	VVNT	-1.28%
F	RPAY	-0.8%
C	PACK	-0.59%
F	SNPR.U	-0.42%
B	NFH	-0.39%
F	TREB	-0.37%
F	PSAC	-0.35%
F	SFTW	-0.35%
B	JIH	-0.32%
F	THCB	-0.32%
B	ACEL	-0.3%
F	IMVT	-0.29%
F	PAE	-0.29%
F	THBR	-0.26%
F	FAII	-0.24%
F	DEH	-0.24%
F	ERES	-0.24%
F	GIK	-0.24%
B	FREE	-0.23%
D	FSRV	-0.22%
F	ACND	-0.21%
F	SFT	-0.21%
B	IMTX	-0.21%
D	CHPM	-0.21%
F	SOAC	-0.21%
F	KSMT	-0.2%
F	GXGX	-0.2%
F	CCAC	-0.19%
F	FIII	-0.18%
F	YAC	-0.18%
D	CRSA	-0.18%
F	EXPC	-0.15%
F	ALUS	-0.15%
D	CPSR	-0.14%
F	HFFG	-0.14%
C	DFHT	-0.13%
F	HYMC	-0.12%
F	ACEV	-0.12%
F	SCVX	-0.12%
D	GDYN	-0.11%
D	LATN	-0.11%
D	HPX	-0.11%
F	ARYA	-0.11%
D	ASAQ	-0.1%
C	BWMX	-0.1%
C	BBCP	-0.1%
B	FLMN	-0.09%
F	KXIN	-0.08%