AFSM vs. XRT ETF Comparison

Comparison of Active Factor Small Cap ETF (AFSM) to SPDR S&P Retail ETF (XRT)

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

$31.40

Average Daily Volume

15,596

Number of Holdings ^*

295

* may have additional holdings in another (foreign) market

XRT

SPDR S&P Retail ETF

XRT Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index derived from the retail segment of a U.S. total market composite index. In seeking to track the performance of the S&P Retail Select Industry Index (the "index"), the fund employs a replication strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the retail industry group of the S&P Total Market Index ("S&P TMI"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$78.59

Average Daily Volume

4,235,853

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	AFSM	XRT
30 Days	-0.31%	0.18%
60 Days	4.51%	4.07%
90 Days	6.30%	2.11%
12 Months	30.57%	29.40%

18 Overlapping Holdings

Symbol	Grade	Weight in AFSM	Weight in XRT	Overlap
ABG	A	0.26%	1.52%	0.26%
ANF	C	0.82%	1.29%	0.82%
ASO	F	0.28%	1.14%	0.28%
BKE	A	0.28%	1.35%	0.28%
CAL	D	0.36%	1.23%	0.36%
CVNA	A	0.53%	2.21%	0.53%
DDS	B	0.44%	1.48%	0.44%
GES	F	0.15%	1.13%	0.15%
IMKTA	C	0.22%	0.83%	0.22%
JWN	A	0.06%	1.33%	0.06%
KSS	F	0.06%	1.21%	0.06%
M	C	0.37%	1.42%	0.37%
MUSA	A	0.51%	1.24%	0.51%
ODP	F	0.29%	1.22%	0.29%
SBH	A	0.21%	1.31%	0.21%
SCVL	F	0.15%	1.03%	0.15%
SFM	A	1.0%	1.79%	1.0%
SIG	B	0.37%	1.39%	0.37%

AFSM Overweight 277 Positions Relative to XRT

Symbol	Grade	Weight
MLI	B	1.38%
SKYW	A	1.22%
NHC	B	1.2%
IDCC	A	1.17%
CPRX	C	0.93%
ALKS	B	0.93%
PFBC	A	0.87%
CRS	A	0.87%
DAKT	A	0.86%
STRL	B	0.84%
ZETA	F	0.81%
FIX	A	0.79%
EME	B	0.79%
MHO	D	0.78%
JXN	B	0.78%
CVLT	B	0.74%
MTG	C	0.73%
BCC	B	0.72%
CALM	A	0.72%
HALO	D	0.7%
UVE	A	0.7%
POWL	C	0.7%
TMHC	B	0.7%
TBBK	A	0.7%
RDN	C	0.7%
SANM	B	0.67%
CEIX	A	0.67%
MCY	A	0.65%
SLVM	B	0.65%
SLG	B	0.65%
HSII	B	0.64%
AROC	A	0.64%
BMI	B	0.63%
COOP	B	0.63%
CRVL	B	0.62%
HWKN	C	0.61%
FDP	A	0.61%
GMED	A	0.61%
GMS	A	0.6%
REZI	A	0.6%
UFPT	C	0.6%
PLUS	F	0.59%
NTB	B	0.58%
PRK	A	0.58%
EGBN	A	0.57%
NHI	D	0.57%
CORT	B	0.57%
NMIH	D	0.56%
SUPN	B	0.56%
BTU	B	0.55%
TGNA	B	0.55%
OFG	B	0.54%
BXC	B	0.54%
CHCO	A	0.54%
BELFB	C	0.53%
STBA	A	0.53%
DOLE	D	0.53%
KBH	D	0.52%
BRBR	A	0.52%
AMWD	B	0.52%
HIMS	C	0.51%
COKE	C	0.51%
GEO	A	0.51%
PI	D	0.5%
APPF	C	0.49%
WT	A	0.49%
ACT	C	0.49%
PRDO	B	0.47%
TEX	D	0.47%
DFIN	D	0.46%
CSWI	B	0.46%
PINC	B	0.46%
HRB	D	0.44%
PLAB	D	0.43%
USLM	A	0.43%
LNTH	F	0.43%
WFRD	F	0.42%
RMR	F	0.42%
IESC	B	0.41%
LGND	B	0.41%
YMAB	D	0.41%
EVER	F	0.41%
QTWO	A	0.4%
ADUS	D	0.4%
AMR	C	0.39%
BDC	B	0.39%
PRGS	B	0.38%
INMD	C	0.38%
WNC	C	0.38%
VRNT	D	0.38%
RDNT	B	0.37%
YOU	D	0.37%
MATX	B	0.37%
ANIP	D	0.37%
APOG	B	0.37%
TILE	A	0.37%
BPMC	D	0.36%
CRAI	B	0.36%
LOPE	B	0.36%
MD	B	0.36%
LRN	A	0.36%
HRMY	D	0.36%
BLBD	F	0.36%
IIPR	F	0.36%
HIW	D	0.35%
CNXN	D	0.35%
CASH	A	0.35%
ESNT	D	0.34%
PDM	D	0.34%
MOG.A	B	0.34%
TRMK	A	0.34%
MTH	D	0.34%
CMC	B	0.33%
FBP	A	0.33%
ATKR	C	0.33%
PBF	D	0.32%
LPG	F	0.32%
ATGE	B	0.32%
PFS	A	0.32%
CUZ	B	0.31%
SCS	A	0.31%
IBOC	A	0.31%
SPNS	F	0.3%
TWI	F	0.3%
DXC	C	0.3%
CNK	A	0.3%
GRBK	D	0.3%
RXST	F	0.3%
BHE	B	0.29%
AKR	B	0.29%
CRDO	C	0.29%
DNOW	A	0.29%
HURN	B	0.29%
SBRA	C	0.29%
TCMD	A	0.29%
ADMA	C	0.28%
VIRT	A	0.28%
PHIN	A	0.28%
HUBG	A	0.28%
THFF	A	0.28%
AZZ	B	0.27%
MEDP	D	0.27%
AVNS	F	0.27%
SXC	A	0.27%
ITCI	B	0.27%
HCC	B	0.27%
BNL	D	0.27%
PSN	C	0.27%
INTA	B	0.26%
BKU	A	0.26%
CCRN	F	0.26%
PRG	A	0.26%
VRNS	D	0.26%
HCI	B	0.26%
BKH	A	0.26%
PIPR	A	0.25%
GNK	C	0.25%
AGX	B	0.25%
GIII	D	0.25%
PRM	C	0.25%
HAE	A	0.23%
KN	B	0.23%
VNDA	C	0.23%
MED	D	0.23%
NTCT	B	0.23%
LMAT	A	0.23%
HLX	D	0.22%
HDSN	F	0.22%
SMP	C	0.22%
AMKR	F	0.21%
NX	C	0.21%
TMDX	F	0.21%
VCTR	B	0.21%
EXTR	B	0.21%
SIGA	F	0.21%
WABC	A	0.21%
PK	C	0.2%
BLFS	D	0.2%
ENS	D	0.2%
KRC	C	0.2%
CMPR	F	0.2%
INSW	F	0.2%
NUS	C	0.2%
SGBX	F	0.19%
DHT	D	0.19%
ONTO	F	0.19%
ASGN	D	0.19%
ASC	F	0.19%
NSSC	F	0.19%
TARS	B	0.19%
UCTT	F	0.18%
TPC	C	0.18%
TNC	F	0.18%
GOGL	C	0.18%
NAVI	D	0.18%
HOV	F	0.17%
TGTX	B	0.17%
NVST	C	0.17%
ADNT	F	0.17%
AXSM	B	0.17%
BRC	C	0.16%
KELYA	F	0.16%
XRX	F	0.16%
SD	F	0.16%
HY	F	0.16%
HROW	D	0.16%
VSH	F	0.16%
SCSC	B	0.15%
STNG	F	0.15%
AIT	A	0.14%
NECB	A	0.14%
METC	C	0.14%
ALRM	C	0.14%
MRVI	F	0.14%
AYI	A	0.14%
EIG	A	0.13%
TWST	F	0.13%
CWCO	C	0.13%
PCRX	C	0.13%
MOV	C	0.13%
CSGS	A	0.13%
CECO	C	0.12%
CLW	F	0.12%
ALKT	B	0.12%
OSCR	F	0.11%
YEXT	A	0.11%
CHRD	F	0.11%
INVA	C	0.11%
CGEM	F	0.11%
RAMP	C	0.1%
GFF	A	0.1%
AMCX	C	0.1%
ASTH	F	0.1%
SPSC	D	0.09%
MAX	F	0.09%
MLKN	F	0.08%
KRYS	D	0.08%
KTB	A	0.08%
ATLO	C	0.07%
TPH	D	0.07%
PEBK	A	0.07%
CTRE	D	0.07%
WGO	B	0.07%
FTDR	B	0.06%
APAM	A	0.06%
CTS	B	0.06%
GRND	B	0.06%
OMI	F	0.06%
SWX	A	0.05%
REVG	A	0.05%
OGS	A	0.05%
AMPH	F	0.05%
NSIT	F	0.05%
ATEN	A	0.05%
HE	D	0.04%
AMN	F	0.04%
TDC	F	0.04%
SEMR	D	0.04%
PHR	F	0.04%
FORM	F	0.04%
ETD	D	0.04%
EOLS	F	0.04%
ANDE	C	0.04%
OTTR	C	0.04%
COLL	F	0.04%
PGNY	F	0.03%
JBI	F	0.03%
VITL	F	0.03%
RYI	B	0.03%
SWI	B	0.03%
EMBC	C	0.03%
LBRT	F	0.03%
ACLS	F	0.02%
ACIW	B	0.02%
MITK	C	0.0%
MAIN	A	0.0%
EPAC	B	0.0%

AFSM Underweight 59 Positions Relative to XRT

Symbol	Grade	Weight
VSCO	A	-1.98%
RVLV	A	-1.73%
WRBY	A	-1.71%
LAD	A	-1.71%
BBWI	C	-1.51%
SAH	A	-1.5%
MNRO	B	-1.48%
GME	C	-1.47%
AMZN	B	-1.46%
WINA	B	-1.45%
GPI	A	-1.43%
BJ	B	-1.42%
ORLY	A	-1.4%
CASY	B	-1.4%
EYE	C	-1.39%
VVV	B	-1.38%
UPBD	B	-1.37%
KR	B	-1.37%
GO	C	-1.36%
PAG	A	-1.36%
ULTA	D	-1.35%
WMT	A	-1.35%
URBN	C	-1.34%
GAP	C	-1.33%
ACI	C	-1.32%
TSCO	D	-1.32%
CWH	B	-1.31%
OLLI	D	-1.31%
AZO	C	-1.31%
AN	D	-1.3%
PSMT	D	-1.3%
WBA	F	-1.3%
TGT	D	-1.29%
COST	B	-1.29%
EBAY	D	-1.27%
KMX	B	-1.26%
TJX	A	-1.26%
CHWY	B	-1.25%
AEO	F	-1.25%
ETSY	D	-1.24%
BURL	C	-1.23%
FIVE	F	-1.23%
LESL	C	-1.23%
AAP	D	-1.22%
FL	F	-1.2%
ROST	D	-1.19%
BBY	C	-1.19%
DG	F	-1.19%
DKS	D	-1.19%
DLTR	F	-1.18%
BOOT	C	-1.13%
HZO	F	-1.11%
BBW	B	-0.85%
WMK	B	-0.81%
ZUMZ	D	-0.72%
GRPN	F	-0.68%
GCO	B	-0.54%
CRMT	F	-0.44%
ARKO	D	-0.31%