USMV vs. ITAN ETF Comparison

Comparison of iShares MSCI USA Minimum Volatility ETF (USMV) to Sparkline Intangible Value ETF (ITAN)

USMV

iShares MSCI USA Minimum Volatility ETF

USMV Description

The investment seeks the investment results of an index composed of U.S. equities that, in the aggregate, have lower volatility characteristics relative to the broader U.S. equity market. The fund generally invests at least 90% of its assets in securities of the underlying index or in depositary receipts representing securities in the underlying index. The underlying index follows a rules-based methodology to determine weights for securities in the index that seeks to minimize total risk of the MSCI USA Index. Components primarily include consumer staples, healthcare and information technology companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$91.07

Average Daily Volume

2,239,373

Number of Holdings ^*

170

* may have additional holdings in another (foreign) market

ITAN

Sparkline Intangible Value ETF

ITAN Description

The investment seeks long-term capital appreciation. The fund is an actively-managed exchange-traded fund (âETFâ). The fund will invest in U.S.-listed equity securities that Sparkline Capital LP (the âSub-Adviserâ) believes are attractive relative to its proprietary measure of âintangible-augmented intrinsic value.â The fundâs investments may include common stocks and Real Estate Investment Trusts (REITs). Although the fund will not concentrate its investments in a particular industry, the Sub-Adviser anticipates that fund will hold a meaningful amount of stocks in the technology, communications, healthcare, and consumer discretionary sectors.

Grade (RS Rating)

Last Trade

$30.26

Average Daily Volume

5,902

Number of Holdings ^*

150

* may have additional holdings in another (foreign) market

Performance

Period	USMV	ITAN
30 Days	1.20%	4.37%
60 Days	5.77%	5.91%
90 Days	9.04%	6.99%
12 Months	27.40%	31.15%

37 Overlapping Holdings

Symbol	Grade	Weight in USMV	Weight in ITAN	Overlap
ACN	C	1.24%	1.57%	1.24%
AKAM	D	0.46%	0.36%	0.36%
AMZN	C	0.13%	4.66%	0.13%
BAH	B	0.45%	0.48%	0.45%
BDX	D	0.6%	0.71%	0.6%
BMY	C	0.43%	0.95%	0.43%
CMCSA	C	0.38%	0.95%	0.38%
CRM	C	0.04%	1.89%	0.04%
CSCO	B	1.35%	1.69%	1.35%
CTSH	B	0.76%	0.75%	0.75%
CVS	D	0.05%	0.95%	0.05%
DELL	C	0.1%	1.2%	0.1%
DGX	B	0.1%	0.43%	0.1%
EA	D	0.76%	0.47%	0.47%
FFIV	B	0.52%	0.45%	0.45%
GD	C	0.06%	0.72%	0.06%
GILD	B	0.9%	0.91%	0.9%
GLW	B	0.3%	0.6%	0.3%
GOOG	D	0.15%	1.87%	0.15%
HON	C	0.22%	1.08%	0.22%
HUM	F	0.45%	0.51%	0.45%
IBM	B	1.75%	1.81%	1.75%
JNPR	A	0.5%	0.45%	0.45%
KR	B	0.59%	0.51%	0.51%
LMT	A	0.9%	0.9%	0.9%
MDT	B	0.14%	1.22%	0.14%
NOC	B	1.54%	0.93%	0.93%
NTAP	D	0.22%	0.61%	0.22%
ORCL	B	1.15%	2.72%	1.15%
PFE	D	0.24%	1.44%	0.24%
RTX	B	0.09%	1.22%	0.09%
T	B	0.71%	1.57%	0.71%
TEL	D	0.07%	0.55%	0.07%
TMUS	B	1.69%	1.28%	1.28%
UBER	C	0.5%	0.45%	0.45%
VZ	A	1.44%	1.38%	1.38%
WDAY	D	0.41%	0.63%	0.41%

USMV Overweight 133 Positions Relative to ITAN

Symbol	Grade	Weight
PGR	C	1.68%
MSI	B	1.67%
WMT	B	1.66%
LLY	D	1.58%
DUK	B	1.53%
BRK.A	C	1.51%
RSG	D	1.5%
CB	B	1.5%
WCN	D	1.49%
TXN	B	1.42%
MSFT	C	1.38%
SO	B	1.38%
WM	D	1.37%
UNH	C	1.34%
APH	C	1.34%
ROP	C	1.31%
MCD	B	1.29%
JNJ	C	1.26%
AVGO	C	1.26%
PG	C	1.25%
MRK	F	1.21%
ABBV	B	1.21%
AJG	D	1.21%
ED	B	1.2%
MMC	C	1.12%
PEP	D	1.1%
MCK	F	1.06%
TRV	C	1.05%
AAPL	C	0.99%
AZO	B	0.96%
CBOE	C	0.86%
GDDY	C	0.84%
REGN	D	0.83%
K	A	0.81%
ACGL	B	0.81%
V	C	0.78%
GIS	B	0.77%
FCNCA	D	0.74%
WEC	B	0.74%
VRTX	D	0.71%
KDP	B	0.71%
AMGN	D	0.7%
ELV	D	0.69%
NOW	C	0.68%
TSN	D	0.68%
MA	B	0.66%
VRSN	C	0.66%
ORLY	B	0.64%
COR	F	0.62%
NEM	C	0.6%
FANG	F	0.57%
FI	B	0.57%
KEYS	B	0.56%
MPC	F	0.56%
NVDA	C	0.55%
ERIE	B	0.54%
TDY	B	0.53%
CME	B	0.51%
YUM	B	0.51%
MDLZ	C	0.51%
FICO	B	0.5%
PTC	C	0.49%
AON	B	0.49%
INCY	C	0.48%
CDW	D	0.46%
CL	C	0.46%
XOM	D	0.45%
EG	B	0.45%
TJX	C	0.44%
KHC	C	0.43%
XEL	B	0.43%
AEP	C	0.41%
VRSK	D	0.4%
CPB	C	0.38%
CHD	C	0.37%
ROL	C	0.37%
CTVA	B	0.37%
WTW	B	0.35%
HSY	D	0.34%
IT	C	0.34%
AFG	C	0.34%
GEN	A	0.33%
NBIX	F	0.32%
MKL	C	0.32%
CVX	F	0.31%
FWONK	C	0.3%
ICE	C	0.29%
AIZ	B	0.29%
WRB	D	0.29%
HD	B	0.29%
ANET	C	0.29%
GRMN	D	0.28%
L	D	0.27%
ADI	C	0.25%
BMRN	F	0.25%
ALNY	C	0.25%
WMB	C	0.24%
AEE	B	0.23%
D	C	0.23%
CI	C	0.23%
HRL	F	0.22%
KMB	C	0.22%
MOH	D	0.22%
AZPN	B	0.22%
MELI	C	0.2%
CMS	B	0.2%
DTE	A	0.2%
HUBS	D	0.19%
LIN	B	0.18%
TW	B	0.18%
STX	B	0.18%
PKG	B	0.18%
DPZ	D	0.18%
HOLX	D	0.17%
SNPS	F	0.17%
CRWD	D	0.16%
CDNS	D	0.16%
EOG	D	0.16%
UTHR	B	0.14%
OXY	F	0.13%
HIG	B	0.12%
KO	B	0.11%
LNT	A	0.1%
ABT	C	0.09%
FSLR	C	0.08%
ADP	C	0.08%
PSX	F	0.06%
KNX	C	0.06%
OTIS	B	0.06%
VLO	F	0.05%
BR	C	0.05%
ULTA	D	0.05%
ATO	B	0.05%

USMV Underweight 113 Positions Relative to ITAN

Symbol	Grade	Weight
META	B	-2.94%
GOOGL	D	-1.88%
QCOM	D	-1.77%
INTC	D	-1.26%
WFC	D	-1.25%
DIS	D	-1.09%
TGT	C	-1.06%
BA	F	-1.03%
PYPL	B	-0.98%
MMM	B	-0.95%
GM	C	-0.93%
COF	B	-0.93%
FDX	D	-0.92%
F	F	-0.83%
PANW	D	-0.8%
CMI	B	-0.8%
SQ	D	-0.78%
HPQ	C	-0.74%
ALL	C	-0.73%
NXPI	D	-0.72%
CNC	D	-0.72%
EBAY	B	-0.72%
CHTR	D	-0.7%
DASH	B	-0.66%
LHX	C	-0.64%
JCI	B	-0.63%
WDC	C	-0.61%
UAL	B	-0.58%
HPE	C	-0.58%
ADSK	B	-0.58%
ILMN	D	-0.56%
DAL	C	-0.54%
EXPE	C	-0.53%
SNAP	D	-0.53%
PRU	C	-0.53%
BAX	C	-0.53%
J	A	-0.52%
BBY	A	-0.52%
WBD	D	-0.5%
IQV	D	-0.5%
LDOS	A	-0.5%
ZBRA	B	-0.49%
CAH	C	-0.49%
ZS	F	-0.48%
CVNA	B	-0.47%
DD	B	-0.46%
BIIB	F	-0.46%
VTRS	D	-0.46%
DOCU	C	-0.44%
ROK	D	-0.43%
ROKU	D	-0.43%
CACI	B	-0.42%
OKTA	F	-0.42%
PSTG	F	-0.42%
ZM	C	-0.42%
DVA	B	-0.41%
NTNX	D	-0.41%
ACM	B	-0.4%
TRU	B	-0.4%
Z	C	-0.4%
TWLO	C	-0.39%
JLL	B	-0.39%
EXAS	D	-0.39%
DBX	C	-0.38%
JBL	C	-0.37%
EMN	B	-0.37%
HAL	F	-0.37%
W	C	-0.36%
TRMB	C	-0.36%
MU	D	-0.36%
CIEN	B	-0.36%
IP	C	-0.35%
AAL	D	-0.34%
TPR	A	-0.32%
ACI	F	-0.32%
SWK	B	-0.32%
LUV	C	-0.32%
U	D	-0.32%
ELAN	D	-0.31%
APTV	D	-0.31%
WBA	F	-0.31%
HAS	B	-0.3%
ALLY	F	-0.3%
LYFT	D	-0.29%
SWKS	F	-0.29%
JAZZ	D	-0.28%
ETSY	D	-0.28%
RUN	D	-0.28%
ARW	B	-0.27%
WHR	C	-0.27%
PII	D	-0.27%
RIVN	F	-0.27%
PARA	D	-0.27%
DOX	C	-0.26%
TAP	D	-0.26%
MTCH	C	-0.25%
AGCO	D	-0.25%
IVZ	B	-0.25%
PATH	D	-0.24%
QRVO	F	-0.24%
BIO	C	-0.24%
MAT	D	-0.24%
HRB	C	-0.24%
BWA	C	-0.23%
DLB	D	-0.23%
GAP	F	-0.22%
ALK	B	-0.22%
NOV	F	-0.22%
FLR	D	-0.2%
MASI	C	-0.2%
RHI	D	-0.2%
XRAY	D	-0.18%
M	F	-0.16%