AFSM vs. IBBQ ETF Comparison

Comparison of Active Factor Small Cap ETF (AFSM) to Invesco Nasdaq Biotechnology ETF (IBBQ)

AFSM

Active Factor Small Cap ETF

AFSM Description

The investment seeks to provide capital appreciation. Under normal market conditions, the fund will invest at least 80% of its net assets (including investment borrowings) in U.S.-listed equity securities issued by small capitalization companies. The manager defines small capitalization companies as those that, at the time of investment, have a market capitalization between a minimum of $250 million and the maximum market capitalization of a widely recognized index of small capitalization companies based upon the composition of the index at the time of investment. It is non-diversified.

Grade (RS Rating)

Last Trade

$32.67

Average Daily Volume

14,158

Number of Holdings ^*

296

* may have additional holdings in another (foreign) market

IBBQ

Invesco Nasdaq Biotechnology ETF

IBBQ Description

The investment seeks to track the investment results (before fees and expenses) of the Nasdaq Biotechnology Index ®. The fund generally will invest at least 90% of its total assets in the securities that comprise the index. Strictly in accordance with its guidelines and mandated procedures, Nasdaq compiles the underlying index, which is a modified market capitalization weighted index that is designed to measure the performance of securities listed on the Nasdaq Stock Market that are classified as either biotechnology or pharmaceutical companies. The index may include securities of large-, mid- and small-capitalization companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$23.77

Average Daily Volume

17,469

Number of Holdings ^*

195

* may have additional holdings in another (foreign) market

Performance

Period	AFSM	IBBQ
30 Days	5.74%	-0.38%
60 Days	9.56%	-3.18%
90 Days	13.38%	1.36%
12 Months	41.37%	28.26%

25 Overlapping Holdings

Symbol	Grade	Weight in AFSM	Weight in IBBQ	Overlap
ADMA	B	0.25%	0.45%	0.25%
ALKS	B	0.94%	0.46%	0.46%
AMPH	C	0.06%	0.22%	0.06%
ANIP	C	0.37%	0.12%	0.12%
AXSM	B	0.18%	0.42%	0.18%
BPMC	B	0.37%	0.63%	0.37%
CGEM	F	0.11%	0.09%	0.09%
COLL	F	0.05%	0.11%	0.05%
EOLS	F	0.06%	0.09%	0.06%
HALO	B	0.72%	0.74%	0.72%
HRMY	D	0.36%	0.19%	0.19%
HROW	B	0.15%	0.17%	0.15%
INVA	B	0.12%	0.12%	0.12%
ITCI	B	0.28%	0.93%	0.28%
KRYS	B	0.08%	0.52%	0.08%
LGND	B	0.4%	0.23%	0.23%
MEDP	D	0.26%	1.07%	0.26%
MRVI	F	0.21%	0.11%	0.11%
PCRX	D	0.14%	0.08%	0.08%
SIGA	D	0.22%	0.05%	0.05%
SUPN	B	0.57%	0.2%	0.2%
TARS	B	0.19%	0.17%	0.17%
TWST	C	0.13%	0.26%	0.13%
VNDA	B	0.22%	0.03%	0.03%
YMAB	D	0.45%	0.07%	0.07%

AFSM Overweight 271 Positions Relative to IBBQ

Symbol	Grade	Weight
MLI	B	1.31%
SKYW	B	1.2%
NHC	B	1.15%
IDCC	A	1.13%
SFM	B	1.0%
CPRX	B	0.93%
ANF	D	0.86%
CRS	B	0.85%
PFBC	B	0.82%
DAKT	B	0.82%
MHO	D	0.81%
EME	B	0.77%
JXN	B	0.75%
MTG	D	0.75%
CALM	A	0.75%
TMHC	C	0.74%
FIX	B	0.74%
BCC	B	0.74%
STRL	B	0.73%
CVLT	B	0.73%
RDN	C	0.71%
ZETA	C	0.69%
UVE	B	0.68%
SLG	C	0.67%
TBBK	B	0.64%
LNTH	F	0.64%
SANM	B	0.64%
SLVM	C	0.64%
POWL	B	0.63%
FDP	B	0.63%
CEIX	B	0.63%
COOP	B	0.62%
UFPT	B	0.62%
MCY	B	0.62%
GMED	B	0.61%
BMI	B	0.61%
NTB	B	0.6%
AROC	B	0.6%
HSII	B	0.6%
NMIH	D	0.59%
CRVL	B	0.58%
GMS	B	0.58%
PLUS	D	0.58%
BTU	C	0.57%
NHI	C	0.57%
HWKN	C	0.56%
DOLE	B	0.56%
KBH	D	0.55%
PRK	B	0.55%
PI	D	0.54%
CORT	B	0.54%
BXC	B	0.54%
OFG	C	0.53%
BRBR	A	0.53%
REZI	A	0.53%
COKE	D	0.53%
EGBN	B	0.53%
CVNA	B	0.53%
MUSA	B	0.52%
BELFB	B	0.52%
YOU	C	0.52%
STBA	C	0.51%
TGNA	B	0.51%
AMWD	B	0.51%
CHCO	B	0.51%
ACT	D	0.5%
APPF	B	0.49%
PINC	B	0.49%
WT	B	0.49%
DDS	C	0.48%
IIPR	F	0.48%
HRB	D	0.47%
TEX	C	0.47%
CSWI	B	0.45%
PRDO	B	0.44%
DFIN	D	0.44%
RMR	F	0.44%
PLAB	C	0.43%
ADUS	D	0.42%
WFRD	D	0.41%
BLBD	F	0.41%
SPNS	F	0.41%
BDC	B	0.4%
HIMS	B	0.4%
AMR	C	0.39%
USLM	B	0.39%
M	D	0.39%
TILE	B	0.38%
INMD	C	0.38%
MATX	B	0.38%
EVER	D	0.38%
PRGS	A	0.38%
RXST	F	0.37%
IESC	B	0.37%
VRNT	D	0.37%
WNC	C	0.37%
MD	B	0.37%
MTH	D	0.37%
HIW	D	0.37%
SIG	B	0.37%
LRN	B	0.36%
QTWO	B	0.36%
ODP	F	0.36%
CAL	D	0.36%
APOG	B	0.36%
LPG	F	0.35%
ESNT	D	0.35%
CNXN	C	0.35%
PDM	C	0.35%
CRAI	B	0.35%
ATKR	C	0.34%
GRBK	D	0.33%
CASH	A	0.33%
PBF	F	0.32%
TRMK	B	0.32%
CUZ	C	0.32%
FBP	B	0.32%
MOG.A	B	0.32%
AKR	C	0.31%
PRMW	C	0.31%
CMC	B	0.31%
RDNT	B	0.31%
ASO	F	0.31%
GEO	B	0.31%
LOPE	B	0.31%
CCRN	F	0.3%
PFS	B	0.3%
CNK	A	0.3%
SBRA	B	0.3%
SCS	C	0.3%
ATGE	B	0.3%
PSN	A	0.29%
HURN	B	0.29%
IBOC	B	0.29%
BKE	A	0.29%
BNL	D	0.29%
DXC	B	0.29%
TWI	D	0.28%
HCC	C	0.28%
CRDO	B	0.28%
BHE	B	0.28%
HCI	B	0.28%
BKH	B	0.27%
THFF	A	0.27%
GIII	C	0.27%
HUBG	B	0.27%
VRNS	D	0.27%
AVNS	D	0.27%
MED	D	0.26%
AZZ	B	0.26%
PRM	C	0.26%
PHIN	B	0.26%
PRG	C	0.26%
TCMD	B	0.26%
VIRT	B	0.26%
GNK	D	0.25%
AGX	B	0.25%
ABG	B	0.25%
SXC	B	0.25%
DNOW	B	0.25%
LMAT	B	0.24%
BKU	B	0.24%
HDSN	F	0.24%
PIPR	B	0.23%
INTA	B	0.23%
ASC	F	0.23%
NTCT	B	0.23%
SMP	B	0.23%
KELYA	F	0.22%
IMKTA	C	0.22%
INSW	F	0.22%
KN	B	0.22%
SBH	C	0.22%
HLX	D	0.21%
BLFS	B	0.21%
TMDX	F	0.21%
ENS	D	0.21%
NX	C	0.21%
AMKR	F	0.21%
DHT	F	0.2%
VCTR	B	0.2%
HAE	B	0.2%
SGBX	F	0.2%
ONTO	F	0.2%
WABC	B	0.2%
CMPR	D	0.2%
PK	B	0.2%
KRC	C	0.2%
EXTR	B	0.2%
GOGL	D	0.19%
NVST	C	0.19%
UCTT	F	0.19%
ASGN	B	0.19%
NSSC	F	0.19%
NUS	D	0.19%
TNC	F	0.18%
NAVI	C	0.18%
HOV	D	0.18%
SD	D	0.17%
STNG	F	0.17%
VSH	F	0.17%
HY	F	0.17%
TPC	B	0.17%
ADNT	F	0.17%
GES	F	0.16%
BRC	B	0.16%
XRX	F	0.16%
SCVL	D	0.15%
TGTX	B	0.15%
OSCR	F	0.15%
SCSC	B	0.14%
MOV	C	0.14%
ALRM	C	0.14%
AYI	A	0.14%
CSGS	B	0.13%
NECB	A	0.13%
CLW	F	0.13%
ALKT	C	0.13%
METC	C	0.13%
CWCO	D	0.13%
ASTH	F	0.13%
EIG	B	0.12%
AIT	A	0.12%
YEXT	B	0.11%
CECO	D	0.11%
CHRD	F	0.11%
GFF	C	0.1%
AMCX	C	0.1%
RAMP	C	0.09%
SPSC	D	0.09%
MAX	F	0.09%
MLKN	D	0.08%
CTRE	C	0.08%
KTB	B	0.08%
KSS	F	0.07%
PEBK	B	0.07%
TPH	D	0.07%
WGO	B	0.07%
APAM	B	0.06%
FTDR	B	0.06%
GRND	B	0.06%
AMN	F	0.06%
JWN	B	0.06%
ATLO	D	0.06%
REVG	B	0.05%
OTTR	C	0.05%
SWX	B	0.05%
ATEN	A	0.05%
OGS	B	0.05%
CTS	B	0.05%
OMI	F	0.05%
NSIT	F	0.05%
SWI	B	0.04%
LBRT	D	0.04%
VITL	F	0.04%
PHR	D	0.04%
SEMR	C	0.04%
TDC	D	0.04%
FORM	D	0.04%
ETD	D	0.04%
ANDE	D	0.04%
HE	F	0.04%
PGNY	F	0.03%
JBI	F	0.03%
RYI	C	0.03%
EMBC	B	0.03%
ACLS	F	0.02%
ACIW	B	0.02%
MITK	C	0.0%
MAIN	A	0.0%
EPAC	B	0.0%

AFSM Underweight 170 Positions Relative to IBBQ

Symbol	Grade	Weight
GILD	B	-9.96%
VRTX	B	-8.14%
AMGN	F	-7.75%
REGN	F	-5.58%
AZN	F	-3.67%
ALNY	D	-3.4%
BIIB	F	-2.47%
ILMN	C	-2.41%
MRNA	F	-1.88%
ARGX	B	-1.86%
UTHR	B	-1.75%
INCY	B	-1.54%
VTRS	B	-1.53%
SMMT	D	-1.49%
SNY	F	-1.47%
BMRN	F	-1.24%
NBIX	C	-1.22%
INSM	D	-1.2%
RPRX	F	-1.16%
PCVX	D	-1.12%
SRPT	F	-1.12%
BNTX	D	-1.03%
EXEL	B	-0.99%
RVMD	B	-0.96%
BGNE	D	-0.9%
ROIV	D	-0.85%
MDGL	B	-0.75%
ASND	D	-0.72%
JAZZ	B	-0.72%
CYTK	C	-0.64%
IONS	F	-0.55%
RNA	B	-0.54%
NUVL	D	-0.54%
ACLX	B	-0.52%
CRNX	B	-0.47%
BBIO	F	-0.47%
RARE	F	-0.45%
IMVT	D	-0.43%
CRSP	C	-0.43%
DNLI	B	-0.41%
RYTM	B	-0.38%
MRUS	C	-0.36%
IOVA	D	-0.36%
XENE	B	-0.34%
APLS	F	-0.34%
GH	B	-0.34%
LEGN	F	-0.33%
FOLD	D	-0.32%
PTCT	B	-0.32%
EWTX	B	-0.32%
KYMR	B	-0.31%
AGIO	B	-0.3%
DYN	D	-0.29%
ACAD	C	-0.28%
VCYT	B	-0.28%
VRNA	B	-0.27%
PTGX	C	-0.27%
JANX	C	-0.27%
ARWR	C	-0.26%
VERA	B	-0.26%
KROS	B	-0.25%
IDYA	D	-0.25%
GERN	D	-0.25%
AKRO	C	-0.24%
VCEL	B	-0.24%
SWTX	D	-0.24%
SRRK	C	-0.23%
BEAM	C	-0.21%
MNKD	C	-0.2%
ARVN	D	-0.19%
RXRX	C	-0.19%
NVCR	C	-0.19%
MIRM	B	-0.19%
SNDX	D	-0.18%
WVE	B	-0.18%
IRON	B	-0.18%
NRIX	B	-0.17%
MYGN	F	-0.16%
FTRE	D	-0.16%
NTLA	F	-0.16%
OCUL	C	-0.16%
ARDX	F	-0.15%
ZLAB	C	-0.15%
SPRY	B	-0.15%
RCKT	F	-0.15%
DVAX	B	-0.15%
DAWN	B	-0.15%
BCRX	C	-0.15%
XNCR	B	-0.14%
NVAX	F	-0.14%
IMCR	C	-0.13%
VIR	C	-0.13%
TVTX	B	-0.13%
KURA	D	-0.13%
ELVN	C	-0.13%
AUPH	B	-0.12%
ARQT	C	-0.12%
PHAT	F	-0.12%
COGT	D	-0.11%
CNTA	B	-0.11%
GRFS	C	-0.11%
ETNB	D	-0.1%
ERAS	B	-0.09%
BCYC	D	-0.09%
PLRX	C	-0.09%
CSTL	C	-0.09%
PRTA	F	-0.09%
GMAB	F	-0.09%
ABCL	C	-0.08%
AUTL	F	-0.08%
RLAY	F	-0.08%
ADPT	B	-0.08%
REPL	B	-0.08%
PACB	D	-0.07%
SANA	F	-0.07%
ORIC	C	-0.07%
ABUS	D	-0.07%
MLYS	C	-0.07%
OLMA	F	-0.07%
IRWD	D	-0.07%
THRD	B	-0.06%
HCM	F	-0.06%
RVNC	F	-0.06%
EYPT	D	-0.06%
HUMA	D	-0.06%
CVAC	F	-0.06%
AVXL	B	-0.06%
ANAB	F	-0.06%
SVRA	D	-0.06%
ALLO	D	-0.06%
LXRX	F	-0.05%
PAHC	B	-0.05%
KALV	F	-0.05%
PRME	C	-0.05%
TERN	D	-0.05%
XERS	C	-0.05%
ARCT	F	-0.05%
URGN	D	-0.05%
MGTX	B	-0.05%
OABI	C	-0.05%
VERV	C	-0.05%
ALEC	C	-0.05%
RGNX	F	-0.05%
GLPG	D	-0.05%
QURE	C	-0.04%
SAGE	F	-0.04%
VYGR	D	-0.04%
FDMT	F	-0.04%
TBPH	C	-0.04%
EDIT	F	-0.03%
ZNTL	D	-0.03%
PGEN	D	-0.03%
MGNX	D	-0.03%
TSHA	D	-0.03%
BMEA	F	-0.03%
LYEL	F	-0.03%
ACIU	F	-0.03%
ITOS	F	-0.03%
VTYX	F	-0.02%
ACRS	B	-0.02%
FULC	F	-0.02%
CABA	D	-0.02%
ATAI	C	-0.02%
AMRN	F	-0.02%
CRBU	D	-0.02%
BLUE	F	-0.01%
ALXO	F	-0.01%
OVID	C	-0.01%
CHRS	F	-0.01%
RAPT	F	-0.01%