TGLR vs. DIVL ETF Comparison

Comparison of LAFFER TENGLER Equity Income ETF (TGLR) to Madison Dividend Value ETF (DIVL)

TGLR

LAFFER TENGLER Equity Income ETF

TGLR Description

TGLR aims to provide long-term capital appreciation by actively selecting between 25-35 US large-cap stocks. The stocks selected are expected to produce above-market dividend yield with low turnover. The strategy is based on two valuation metrics the sub-adviser believes to be consistent indicators of company value: relative dividend yield and relative price-to-sales ratio. The metrics help determine over- and under valuation, security by security. The sub-adviser then conducts proprietary fundamental factor research to identify stocks for portfolio selection. The research considers both qualitative and quantitative factors such as: catalyst for outperformance, franchise value and market growth, firm management, sales or revenue growth, margins, positive free cash flow, dividend growth, P/E, asset turnover, leverage, and risk. The primary indicator for a stock sell is when the stocks dividend yield is lower than the S&P 500 Index, a sell range is determined.

Grade (RS Rating)

Last Trade

$30.88

Average Daily Volume

2,371

Number of Holdings ^*

* may have additional holdings in another (foreign) market

DIVL

Madison Dividend Value ETF

DIVL Description

The fund seeks to achieve its investment objective by investing in equity securities of companies with a market capitalization of over $1 billion and a history of paying dividends, with the ability to increase dividends over time. Under normal market conditions, the fund will invest at least 80% of its net assets (including any borrowings for investment purposes) in dividend paying equity securities. The fund may also invest up to 50% of its common stock allocation in foreign securities, including ADRs and emerging market securities.

Grade (RS Rating)

Last Trade

$22.71

Average Daily Volume

2,673

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	TGLR	DIVL
30 Days	3.29%	2.44%
60 Days	4.83%	5.00%
90 Days	7.46%	6.85%
12 Months	30.96%	22.78%

10 Overlapping Holdings

Symbol	Grade	Weight in TGLR	Weight in DIVL	Overlap
ABBV	D	3.64%	3.54%	3.54%
CVX	A	3.15%	3.1%	3.1%
EOG	A	2.77%	3.17%	2.77%
HD	A	4.15%	3.83%	3.83%
JNJ	D	2.82%	2.77%	2.77%
JPM	A	4.48%	3.52%	3.52%
MDT	D	2.05%	2.64%	2.05%
NEE	D	1.71%	2.69%	1.71%
PEP	F	2.16%	1.32%	1.32%
TXN	C	3.26%	3.85%	3.26%

TGLR Overweight 19 Positions Relative to DIVL

Symbol	Grade	Weight
ORCL	B	6.11%
AXP	A	4.89%
AVGO	D	4.51%
WMT	A	4.46%
MSFT	F	4.27%
CARR	D	4.14%
GS	A	3.92%
MCD	D	3.87%
RTX	C	3.65%
EMR	A	3.14%
LHX	C	3.04%
SBUX	A	2.89%
STLD	B	2.8%
GOOGL	C	2.56%
DELL	C	2.52%
NXPI	D	2.51%
AAPL	C	2.41%
LRCX	F	2.33%
PLD	D	2.27%

TGLR Underweight 26 Positions Relative to DIVL

Symbol	Grade	Weight
MS	A	-4.78%
FAST	B	-4.53%
ADP	B	-4.51%
BLK	C	-3.99%
HON	B	-3.92%
LOW	D	-3.29%
CMCSA	B	-2.82%
UNP	C	-2.74%
HPE	B	-2.65%
CME	A	-2.63%
BAC	A	-2.61%
AMT	D	-2.58%
COP	C	-2.57%
USB	A	-2.54%
MKC	D	-2.35%
APD	A	-2.29%
D	C	-2.28%
CMI	A	-2.16%
DGX	A	-2.02%
XOM	B	-1.91%
PG	A	-1.41%
NKE	D	-1.36%
ABT	B	-1.25%
DE	A	-1.14%
PAYX	C	-1.13%
CL	D	-0.99%