VABS vs. HDGE ETF Comparison

Comparison of Virtus Newfleet ABS/MBS ETF (VABS) to Ranger Equity Bear Bear ETF (HDGE)

VABS

Virtus Newfleet ABS/MBS ETF

VABS Description

The Fund seeks to generate income by investing primarily in short-duration, investment-grade securitized debt across asset-backed securities (ABS) and mortgage-backed securities (MBS), including commercial and residential MBS. A disciplined, time-tested investment process and rigorous risk management approach seeks to target ABS and MBS with competitive yield and current income across undervalued areas of securitized credit markets.

Grade (RS Rating)

Last Trade

$23.97

Average Daily Volume

1,703

Number of Holdings ^*

* may have additional holdings in another (foreign) market

HDGE

Ranger Equity Bear Bear ETF

HDGE Description

The investment seeks capital appreciation through short sales of domestically traded equity securities. The Sub-Advisor seeks to achieve the fund's investment objective by short selling a portfolio of liquid mid- and large-cap U.S. exchange-traded equity securities, ETFs registered pursuant to the 1940 Act, ETNs and other ETPs. The Sub-Advisor implements a bottom-up, fundamental, research driven security selection process that seeks to identify securities with low earnings quality or aggressive accounting that may tend to mask operational deterioration and bolster the reported earnings per share over a short time period.

Grade (RS Rating)

Last Trade

$20.21

Average Daily Volume

91,062

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	VABS	HDGE
30 Days	0.23%	-5.78%
60 Days	0.21%	-0.06%
90 Days	0.80%	3.25%
12 Months	4.59%	-15.02%

1 Overlapping Holdings

	Symbol	Grade	Weight in VABS	Weight in HDGE	Overlap
	SNV	B	0.02%	-1.26%	-1.26%

VABS Overweight 52 Positions Relative to HDGE

Symbol	Grade	Weight
RLJ	F	4.48%
BW	D	2.27%
NS	D	2.1%
EFC	B	1.89%
BFS	C	1.53%
EQC	C	1.49%
DRH	F	1.35%
PBI	C	1.34%
TWO	B	1.26%
ARR	C	1.25%
GNL	D	0.94%
F	D	0.87%
MFA	C	0.86%
CIM	D	0.82%
IVR	C	0.78%
DBRG	F	0.62%
ET	B	0.55%
EPR	C	0.47%
MITT	A	0.45%
CTO	A	0.29%
AEL	A	0.28%
PSEC	C	0.23%
TDS	B	0.23%
PMT	A	0.21%
AHH	C	0.17%
SHO	D	0.17%
LXP	D	0.17%
INN	D	0.16%
ATCOL	A	0.15%
BHR	C	0.15%
UMH	B	0.11%
ABR	C	0.1%
ALLY	B	0.1%
FTAI	B	0.06%
ALTG	F	0.05%
FHN	B	0.04%
NYCB	D	0.04%
AL	C	0.04%
CIO	C	0.03%
NLY	B	0.03%
DX	B	0.02%
CODI	D	0.02%
PEB	C	0.01%
CNO	A	0.01%
VNO	F	0.01%
BOH	D	0.01%
SF	B	0.01%
EQH	B	0.01%
COF	D	0.01%
IFF	A	0.01%
JPM	B	0.01%
NEE	B	0.01%

VABS Underweight 65 Positions Relative to HDGE

Symbol	Grade	Weight
APPN	F	--0.33%
CCL	F	--0.95%
CZR	F	--0.96%
GO	F	--0.97%
ALGM	D	--0.98%
PX	D	--1.01%
EXTR	D	--1.01%
JACK	F	--1.03%
GPRE	F	--1.04%
ALB	D	--1.04%
NAPA	F	--1.06%
CLVT	F	--1.07%
CHRW	C	--1.08%
FIVN	F	--1.09%
SNA	D	--1.1%
DOCS	F	--1.11%
PCTY	C	--1.12%
LITE	D	--1.13%
NTST	C	--1.15%
NBR	F	--1.17%
GT	C	--1.18%
ROKU	F	--1.19%
HBI	D	--1.19%
IPGP	D	--1.19%
TDOC	F	--1.22%
ACI	C	--1.24%
ROIC	D	--1.24%
MCD	D	--1.25%
PHR	D	--1.26%
LUV	F	--1.27%
KLIC	F	--1.28%
ELF	D	--1.29%
MRTN	D	--1.29%
ATGE	B	--1.29%
APD	D	--1.31%
CABO	F	--1.32%
REG	D	--1.33%
THS	F	--1.34%
NXST	C	--1.34%
BILL	F	--1.35%
DAN	C	--1.36%
UI	C	--1.37%
TGNA	C	--1.37%
RKLB	D	--1.37%
YETI	D	--1.39%
WK	D	--1.39%
APTV	D	--1.39%
OLED	C	--1.4%
ALGT	F	--1.41%
ON	D	--1.41%
CSIQ	F	--1.41%
HLIO	C	--1.42%
CAR	D	--1.44%
WHR	F	--1.45%
RIVN	F	--1.5%
HUM	D	--1.51%
VLY	D	--1.52%
MRCY	D	--1.53%
SNDR	D	--1.55%
GLBE	F	--1.59%
KMX	F	--1.87%
O	C	--1.97%
DEO	F	--2.06%
NOV	F	--2.27%
PYCR	F	--2.56%