SSPY vs. SQEW ETF Comparison

Comparison of Syntax Stratified LargeCap ETF (SSPY) to LeaderShares Equity Skew ETF (SQEW)

SSPY

Syntax Stratified LargeCap ETF

SSPY Description

The investment seeks to provide investment results that, before expenses, correspond generally to the total return performance of publicly traded equity securities of companies in the Syntax Stratified LargeCap Index (the "index"). Under normal market conditions, the fund generally invests substantially all, and at least 95% of its total assets in the securities comprising the index. The index, which was created by Syntax, LLC, an affiliate of the fund's investment adviser, is the stratified-weight version of the widely used S&P 500® Index and holds the same constituents as the S&P 500.

Grade (RS Rating)

Last Trade

$75.52

Average Daily Volume

613

Number of Holdings ^*

496

* may have additional holdings in another (foreign) market

SQEW

LeaderShares Equity Skew ETF

SQEW Description

The investment seeks to generate long-term capital growth. The fund is an actively managed exchange traded fund (ETF) that normally invests at least 80% of its net assets, including any borrowings for investment purposes, in equity securities. It employs a contrarian strategy seeking to buy underperforming asset classes and/or factors and sell outperforming asset classes and/or factors based on quantitative research. The fund may have a higher degree of portfolio turnover than funds that seek to replicate the performance of an index.

Grade (RS Rating)

Last Trade

$32.91

Average Daily Volume

8,955

Number of Holdings ^*

153

* may have additional holdings in another (foreign) market

Performance

Period	SSPY	SQEW
30 Days	-0.98%	0.01%
60 Days	3.72%	7.08%
90 Days	-0.15%	2.02%
12 Months	13.89%	9.05%

150 Overlapping Holdings

Symbol	Grade	Weight in SSPY	Weight in SQEW	Overlap
AAPL	B	0.65%	3.88%	0.65%
ABBV	B	0.24%	0.14%	0.14%
ABNB	D	0.1%	0.04%	0.04%
ADBE	C	0.14%	0.27%	0.14%
ADI	B	0.28%	0.08%	0.08%
ADP	C	0.23%	0.05%	0.05%
ADSK	B	0.15%	0.03%	0.03%
AJG	A	0.04%	0.04%	0.04%
AMAT	A	0.2%	0.25%	0.2%
AMD	C	0.11%	0.32%	0.11%
AME	C	0.12%	0.02%	0.02%
AMP	A	0.1%	0.03%	0.03%
AMT	C	0.06%	0.05%	0.05%
AMZN	C	0.16%	2.09%	0.16%
ANET	A	0.24%	0.11%	0.11%
ANSS	C	0.17%	0.02%	0.02%
APH	A	0.24%	0.06%	0.06%
AVGO	B	0.26%	0.94%	0.26%
AXON	C	0.08%	0.03%	0.03%
AXP	C	0.05%	0.11%	0.05%
AZO	C	0.14%	0.04%	0.04%
BA	D	0.16%	0.06%	0.06%
BKNG	A	0.13%	0.18%	0.13%
BLDR	D	0.15%	0.02%	0.02%
BSX	B	0.07%	0.08%	0.07%
BX	C	0.1%	0.08%	0.08%
CARR	A	0.09%	0.03%	0.03%
CAT	D	0.12%	0.12%	0.12%
CDNS	A	0.35%	0.11%	0.11%
CE	D	0.06%	0.02%	0.02%
CEG	B	0.5%	0.04%	0.04%
CL	A	0.47%	0.04%	0.04%
CME	D	0.04%	0.03%	0.03%
CMG	A	0.61%	0.12%	0.12%
COP	D	0.07%	0.11%	0.07%
COST	A	0.91%	0.2%	0.2%
CPAY	D	0.04%	0.02%	0.02%
CPRT	C	0.22%	0.06%	0.06%
CRM	F	0.27%	0.28%	0.27%
CSGP	F	0.04%	0.02%	0.02%
CSX	D	0.07%	0.04%	0.04%
CTAS	A	0.21%	0.04%	0.04%
DE	D	0.13%	0.07%	0.07%
DECK	B	0.3%	0.03%	0.03%
DFS	B	0.7%	0.02%	0.02%
DHI	D	0.24%	0.05%	0.05%
DLR	A	0.35%	0.02%	0.02%
DXCM	C	0.09%	0.03%	0.03%
ECL	A	0.05%	0.04%	0.04%
EOG	D	0.07%	0.06%	0.06%
EQIX	C	0.29%	0.04%	0.04%
EW	C	0.06%	0.02%	0.02%
EXPE	C	0.11%	0.02%	0.02%
FANG	D	0.08%	0.04%	0.04%
FAST	C	0.11%	0.02%	0.02%
FCX	D	0.32%	0.04%	0.04%
FICO	B	0.05%	0.04%	0.04%
FTNT	F	0.19%	0.05%	0.05%
FTV	D	0.03%	0.03%	0.03%
GE	C	0.25%	0.09%	0.09%
GEV	A	0.06%	0.03%	0.03%
GOOGL	B	0.3%	2.39%	0.3%
GWW	C	0.12%	0.04%	0.04%
HCA	A	0.36%	0.04%	0.04%
HD	B	0.24%	0.16%	0.16%
HES	D	0.07%	0.05%	0.05%
HLT	A	0.12%	0.07%	0.07%
IDXX	C	0.08%	0.03%	0.03%
INTU	C	0.21%	0.21%	0.21%
IQV	D	0.11%	0.02%	0.02%
IR	B	0.2%	0.04%	0.04%
ISRG	A	0.14%	0.12%	0.12%
IT	C	0.16%	0.04%	0.04%
ITW	D	0.19%	0.04%	0.04%
KLAC	A	0.2%	0.14%	0.14%
KO	B	0.27%	0.12%	0.12%
LEN	D	0.24%	0.03%	0.03%
LLY	A	0.3%	0.87%	0.3%
LRCX	A	0.19%	0.17%	0.17%
LULU	F	0.17%	0.04%	0.04%
MA	C	0.04%	0.33%	0.04%
MAR	C	0.11%	0.07%	0.07%
MCD	F	0.45%	0.1%	0.1%
MCHP	B	0.15%	0.04%	0.04%
MCO	A	0.05%	0.04%	0.04%
MDLZ	D	0.18%	0.05%	0.05%
META	B	0.46%	1.43%	0.46%
MLM	C	0.16%	0.03%	0.03%
MMC	A	0.04%	0.07%	0.04%
MNST	F	0.22%	0.03%	0.03%
MPC	D	0.49%	0.04%	0.04%
MPWR	A	0.26%	0.05%	0.05%
MRK	B	0.27%	0.16%	0.16%
MSCI	D	0.04%	0.03%	0.03%
MSFT	A	0.38%	4.14%	0.38%
MSI	A	0.59%	0.05%	0.05%
NFLX	A	0.25%	0.37%	0.25%
NKE	C	0.24%	0.06%	0.06%
NOW	C	0.33%	0.19%	0.19%
NUE	D	0.21%	0.03%	0.03%
NVDA	A	0.2%	4.12%	0.2%
NVR	D	0.26%	0.02%	0.02%
ODFL	D	0.07%	0.04%	0.04%
OKE	C	0.27%	0.04%	0.04%
ORCL	A	0.43%	0.28%	0.28%
ORLY	C	0.15%	0.06%	0.06%
PANW	B	0.26%	0.13%	0.13%
PCAR	C	0.12%	0.05%	0.05%
PEP	D	0.19%	0.1%	0.1%
PG	A	0.46%	0.19%	0.19%
PGR	C	0.26%	0.07%	0.07%
PH	D	0.08%	0.07%	0.07%
PHM	D	0.26%	0.03%	0.03%
PM	B	0.43%	0.07%	0.07%
PSA	B	0.11%	0.02%	0.02%
PWR	A	0.44%	0.03%	0.03%
QCOM	A	0.29%	0.16%	0.16%
REGN	A	0.28%	0.08%	0.08%
ROP	A	0.03%	0.03%	0.03%
ROST	A	0.77%	0.06%	0.06%
RSG	B	0.2%	0.03%	0.03%
SBUX	D	0.45%	0.07%	0.07%
SHW	C	0.06%	0.04%	0.04%
SMCI	C	0.14%	0.06%	0.06%
SNPS	A	0.36%	0.12%	0.12%
SPG	B	0.07%	0.02%	0.02%
SPGI	B	0.04%	0.08%	0.04%
SYK	B	0.12%	0.09%	0.09%
TDG	B	0.09%	0.09%	0.09%
TJX	A	0.87%	0.1%	0.1%
TMO	C	0.12%	0.1%	0.1%
TRGP	A	0.3%	0.03%	0.03%
TSLA	C	0.26%	0.64%	0.26%
TXN	B	0.27%	0.08%	0.08%
TYL	B	0.39%	0.03%	0.03%
UBER	B	0.11%	0.18%	0.11%
ULTA	F	0.12%	0.02%	0.02%
UNH	D	0.29%	0.22%	0.22%
UNP	D	0.08%	0.08%	0.08%
URI	C	0.12%	0.05%	0.05%
V	D	0.04%	0.36%	0.04%
VMC	C	0.16%	0.03%	0.03%
VRSK	A	0.05%	0.03%	0.03%
VRTX	B	0.3%	0.1%	0.1%
WM	C	0.19%	0.04%	0.04%
WMB	A	0.3%	0.02%	0.02%
WST	F	0.05%	0.03%	0.03%
XOM	D	0.8%	0.04%	0.04%
YUM	C	0.51%	0.02%	0.02%
ZTS	C	0.25%	0.05%	0.05%

SSPY Overweight 346 Positions Relative to SQEW

Symbol	Grade	Weight
WMT	A	0.86%
CVX	D	0.8%
SYF	C	0.72%
KR	C	0.7%
SYY	D	0.69%
COF	C	0.69%
DPZ	A	0.62%
TTWO	C	0.58%
CVS	D	0.55%
BRK.A	C	0.53%
L	C	0.52%
EA	B	0.52%
WBA	D	0.51%
NRG	B	0.51%
VLO	D	0.51%
CHTR	C	0.5%
KMB	A	0.48%
AES	C	0.47%
PSX	D	0.47%
CMCSA	F	0.46%
CHD	A	0.45%
BG	D	0.44%
DRI	C	0.44%
MO	B	0.43%
ADM	F	0.43%
BWA	F	0.42%
MTCH	D	0.42%
HPQ	B	0.41%
KVUE	D	0.4%
GRMN	B	0.4%
TSN	D	0.39%
EXC	D	0.37%
TMUS	B	0.37%
UHS	A	0.37%
J	C	0.37%
MRNA	C	0.37%
AWK	B	0.37%
CLX	C	0.37%
APTV	F	0.37%
NI	C	0.36%
FSLR	C	0.36%
BKR	D	0.36%
ATO	C	0.35%
HRL	F	0.35%
VZ	B	0.35%
T	B	0.35%
EL	F	0.34%
HAL	D	0.33%
GM	B	0.32%
NEE	C	0.32%
VRSN	C	0.32%
SLB	F	0.31%
NEM	B	0.31%
IBM	C	0.3%
KDP	A	0.3%
GS	B	0.3%
GOOG	B	0.3%
HUM	C	0.29%
KMI	B	0.29%
ELV	C	0.29%
HAS	C	0.29%
PEG	B	0.29%
EIX	C	0.28%
AKAM	F	0.28%
JBL	C	0.28%
CNP	A	0.28%
SCHW	D	0.28%
AMGN	B	0.28%
MS	B	0.28%
ETN	C	0.28%
BIIB	C	0.27%
ENPH	C	0.27%
ETR	D	0.27%
AEP	B	0.27%
D	C	0.27%
RL	B	0.27%
CTLT	C	0.26%
F	D	0.26%
NXPI	B	0.26%
DTE	C	0.26%
INCY	B	0.26%
WDC	A	0.26%
AIG	D	0.26%
ED	D	0.26%
FE	C	0.26%
PFE	C	0.26%
MMM	B	0.26%
ALL	D	0.26%
AIZ	D	0.25%
SWK	D	0.25%
NTAP	A	0.25%
HUBB	C	0.25%
STZ	C	0.25%
RJF	C	0.25%
JNJ	F	0.24%
UAL	C	0.24%
STLD	C	0.24%
CNC	D	0.24%
HPE	B	0.24%
LOW	C	0.24%
TER	A	0.24%
CAG	D	0.23%
STX	A	0.23%
MCK	A	0.23%
DAL	D	0.23%
PAYX	A	0.23%
TPR	C	0.23%
SNA	D	0.23%
HON	A	0.22%
DOV	B	0.22%
GILD	F	0.22%
SWKS	B	0.22%
ON	C	0.22%
AFL	A	0.22%
GIS	C	0.22%
MKC	D	0.22%
VTRS	F	0.22%
CPB	C	0.22%
GLW	A	0.22%
TEL	A	0.21%
KHC	D	0.21%
K	C	0.21%
PARA	F	0.21%
MOH	F	0.21%
PRU	B	0.21%
XYL	B	0.21%
QRVO	B	0.21%
JNPR	B	0.2%
MU	B	0.2%
MET	C	0.2%
PFG	C	0.2%
CI	D	0.2%
BMY	F	0.2%
SJM	C	0.2%
TAP	F	0.2%
ROL	A	0.2%
HSY	F	0.19%
GD	A	0.19%
DGX	C	0.19%
DIS	C	0.19%
AOS	C	0.19%
BBY	A	0.19%
LW	C	0.19%
CSCO	F	0.19%
PNR	C	0.19%
LDOS	B	0.19%
SOLV	F	0.19%
CAH	C	0.18%
DAY	F	0.18%
FFIV	D	0.18%
PAYC	F	0.18%
HSIC	D	0.18%
MHK	D	0.18%
WBD	F	0.18%
KEYS	D	0.18%
ACGL	B	0.17%
OMC	C	0.17%
IEX	D	0.17%
BBWI	D	0.17%
MAS	C	0.17%
CB	B	0.16%
ARE	C	0.16%
VST	C	0.16%
LUV	B	0.16%
IPG	F	0.16%
EBAY	A	0.16%
BXP	C	0.16%
TXT	C	0.16%
PTC	D	0.16%
GPC	D	0.15%
CTSH	D	0.15%
TGT	D	0.15%
WAB	B	0.15%
EG	B	0.15%
HIG	A	0.15%
AAL	F	0.15%
GL	C	0.14%
CTRA	D	0.14%
DG	F	0.14%
WRB	C	0.14%
AMCR	B	0.14%
ZBRA	D	0.14%
TRV	D	0.14%
EQT	D	0.14%
BAC	A	0.14%
CINF	C	0.14%
WY	F	0.14%
MTD	B	0.14%
TSCO	A	0.14%
LKQ	F	0.13%
ESS	A	0.13%
DLTR	F	0.13%
TECH	C	0.13%
ACN	F	0.13%
WFC	C	0.13%
DVN	D	0.13%
JPM	B	0.13%
BALL	D	0.13%
KMX	C	0.13%
ETSY	F	0.13%
C	C	0.13%
RHI	F	0.13%
A	C	0.12%
MAA	B	0.12%
CDW	C	0.12%
EXR	A	0.12%
EQR	A	0.12%
UDR	B	0.12%
FOXA	B	0.12%
BK	B	0.12%
CPT	A	0.12%
FOX	B	0.12%
AVB	A	0.12%
STE	D	0.12%
NWS	B	0.11%
RCL	B	0.11%
NWSA	B	0.11%
POOL	D	0.11%
WAT	D	0.11%
ZBH	F	0.11%
BR	C	0.11%
STT	D	0.11%
INVH	A	0.11%
PODD	B	0.11%
RMD	B	0.11%
HWM	B	0.1%
VTR	A	0.1%
INTC	F	0.1%
WELL	A	0.1%
TROW	B	0.1%
EPAM	F	0.1%
NTRS	C	0.1%
HST	D	0.1%
CHRW	B	0.1%
RTX	B	0.1%
ILMN	F	0.1%
CRL	D	0.1%
PNW	C	0.09%
XEL	D	0.09%
FDX	D	0.09%
PCG	B	0.09%
CCL	C	0.09%
LHX	B	0.09%
ALGN	F	0.09%
DHR	B	0.09%
EXPD	B	0.09%
JCI	B	0.09%
TT	A	0.09%
SO	B	0.09%
DVA	B	0.09%
LMT	C	0.09%
BLK	B	0.09%
GNRC	C	0.09%
IVZ	D	0.09%
DOC	B	0.09%
AEE	D	0.08%
UPS	F	0.08%
MOS	F	0.08%
CF	D	0.08%
OTIS	B	0.08%
WEC	D	0.08%
LYV	C	0.08%
NCLH	D	0.08%
ES	D	0.08%
FMC	F	0.08%
CMS	D	0.08%
CMI	C	0.08%
BEN	F	0.08%
IP	A	0.08%
LNT	D	0.08%
NOC	F	0.08%
HOLX	D	0.08%
CTVA	D	0.08%
EVRG	C	0.08%
PPL	B	0.08%
MRO	C	0.08%
SRE	B	0.08%
DUK	B	0.08%
KIM	B	0.07%
MGM	D	0.07%
LYB	C	0.07%
VICI	D	0.07%
REG	B	0.07%
FRT	D	0.07%
DOW	D	0.07%
O	D	0.07%
AVY	A	0.07%
JBHT	F	0.07%
GEHC	C	0.07%
WRK	C	0.07%
APA	F	0.07%
ALLE	D	0.07%
BIO	D	0.07%
HII	D	0.07%
OXY	D	0.07%
IRM	A	0.07%
NSC	D	0.07%
DD	B	0.06%
ABT	D	0.06%
EMN	B	0.06%
PLD	C	0.06%
APD	B	0.06%
LVS	F	0.06%
SBAC	F	0.06%
IFF	B	0.06%
CCI	D	0.06%
PYPL	D	0.06%
WYNN	D	0.06%
MDT	D	0.06%
CZR	C	0.06%
FIS	A	0.06%
PPG	D	0.06%
PKG	B	0.06%
NDAQ	C	0.05%
LIN	B	0.05%
ALB	F	0.05%
USB	C	0.05%
CMA	D	0.05%
KEY	D	0.05%
HBAN	D	0.05%
TFX	D	0.05%
RF	C	0.05%
TFC	C	0.05%
BDX	D	0.05%
FITB	C	0.05%
MTB	C	0.05%
PNC	C	0.05%
JKHY	D	0.05%
CFG	C	0.05%
AON	C	0.04%
WTW	D	0.04%
CBRE	C	0.04%
VLTO	A	0.04%
FDS	D	0.04%
EFX	B	0.04%
BAX	D	0.04%
BRO	A	0.04%
CBOE	D	0.04%
MKTX	F	0.04%
ICE	B	0.04%
NDSN	D	0.03%
ROK	F	0.03%
TRMB	C	0.03%
TDY	D	0.03%
EMR	C	0.03%
GPN	F	0.03%

SSPY Underweight 3 Positions Relative to SQEW

Symbol	Grade	Weight
SLYV	D	-30.86%
SPYV	B	-21.22%
SLYG	B	-14.57%