TOGA vs. HIPS ETF Comparison

Comparison of Managed Portfolio Series Tremblant Global ETF (TOGA) to Master Income ETF (HIPS)

TOGA

Managed Portfolio Series Tremblant Global ETF

TOGA Description

Under normal conditions, the fund will invest: (1) at least 40% (unless market conditions are not deemed favorable, in which case at least 30%) of its net assets in investments that are economically tied to, or located in, countries or regions other than the United States; and (2) in investments that are economically tied to, or located in, at least three different countries, including the United States.

Grade (RS Rating)

Last Trade

$30.90

Average Daily Volume

14,741

Number of Holdings ^*

* may have additional holdings in another (foreign) market

HIPS

Master Income ETF

HIPS Description

The Master Income ETF seeks to track the total return performance, before fees and expenses, of the TFMS HIPS 300 Index. The Index is constructed to capture 300 high income securities, typically with pass-through structures, across the following sectors: (i) closed-end funds (“CEFs”), (ii) mortgage real estate investment trusts (“REITs”), (iii) commercial equity REITs, (iv) residential/diversified REITs, (v) asset management and business development companies (“BDCs”), and (vi) energy production and energy transportation & processing companies. Energy-related companies included in the Index are expected to primarily be structured as master limited partnerships (“MLPs”). CEFs included in the Index are limited to taxable, debt-based funds and may include CEFs that invest primarily in bank loans, high-yield securities (also known as “junk bonds”), foreign securities (including those in emerging markets), and mortgage- or asset-backed securities. The Index is constituted using proprietary methodology developed by Trust and Fiduciary Management Services, Inc. The Index Provider determines the relative weightings of the securities in the Index and publishes information regarding the market value of the Index.

Grade (RS Rating)

Last Trade

$13.08

Average Daily Volume

31,473

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	TOGA	HIPS
30 Days	6.66%	2.25%
60 Days	11.50%	1.38%
90 Days	16.33%	3.36%
12 Months		19.42%

0 Overlapping Holdings

	Symbol	Grade	Weight in TOGA	Weight in HIPS	Overlap

TOGA Overweight 30 Positions Relative to HIPS

Symbol	Grade	Weight
GRAB	A	6.37%
SPOT	A	4.71%
DASH	B	4.26%
WH	B	4.14%
TKO	A	3.83%
FIVN	C	3.79%
SKX	F	3.75%
AMZN	B	3.5%
CHTR	B	3.47%
MELI	C	3.42%
DKNG	B	3.19%
VSCO	A	3.19%
VRNS	D	2.96%
CPNG	D	2.84%
UBER	F	2.76%
QTWO	A	2.73%
EVR	B	2.67%
BIDU	D	2.62%
CSGP	C	2.53%
GOOGL	B	2.52%
PG	C	2.43%
MTCH	F	2.21%
EL	F	2.2%
EMN	D	2.18%
PANW	A	2.16%
META	C	2.14%
PGR	B	2.06%
NCNO	B	1.82%
MA	B	1.75%
V	A	1.69%

TOGA Underweight 37 Positions Relative to HIPS

Symbol	Grade	Weight
BGX	A	-2.79%
LTC	B	-2.79%
JQC	A	-2.78%
JFR	A	-2.75%
ARCC	A	-2.72%
ET	A	-2.68%
SLRC	A	-2.66%
FSK	A	-2.65%
EFT	A	-2.64%
EPD	A	-2.64%
FCT	A	-2.63%
FDUS	A	-2.62%
BXSL	A	-2.62%
BLW	C	-2.6%
MPLX	A	-2.6%
DMLP	A	-2.6%
GTY	A	-2.59%
CQP	B	-2.56%
GBDC	B	-2.55%
NBB	D	-2.54%
KRP	B	-2.53%
DSU	A	-2.52%
ALX	D	-2.49%
PAA	B	-2.48%
SBRA	B	-2.48%
WES	C	-2.48%
GLPI	C	-2.48%
OHI	C	-2.46%
USAC	B	-2.44%
BSM	B	-2.44%
PK	D	-2.41%
EPR	D	-2.28%
NMFC	D	-2.26%
GSBD	F	-2.2%
NNN	C	-2.18%
NHS	D	-2.02%
GNL	D	-1.83%