ANEW vs. RULE ETF Comparison

Comparison of ProShares MSCI Transformational Changes ETF (ANEW) to Adaptive Core ETF (RULE)

ANEW

ProShares MSCI Transformational Changes ETF

ANEW Description

The investment seeks investment results, before fees and expenses, that track the performance of the MSCI Global Transformational Changes Index (the index). The fund seeks to invest substantially all of its assets in the securities included in the index. The index selects companies which may benefit from transformational changes in how people work, take care of their health, and consume and connect (Transformational Changes) - changes accelerated by COVID-19.

Grade (RS Rating)

Last Trade

$43.56

Average Daily Volume

321

Number of Holdings ^*

124

* may have additional holdings in another (foreign) market

RULE

Adaptive Core ETF

RULE Description

Adaptive Core ETF seeks current income. The fund invests in individual equity securities without regard to market capitalization and ETFs that invest in equity securities of any market capitalization including convertible equity securities and fixed income ETFs. The fund’s portfolio may hold securities from issuers of any market capitalization, credit quality, maturity, or country. Fixed income securities may include securities with credit quality below investment grade (commonly referred to as “junk bond” credit quality).

Grade (RS Rating)

Last Trade

$21.74

Average Daily Volume

13,384

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	ANEW	RULE
30 Days	0.71%	-0.59%
60 Days	3.29%	1.26%
90 Days	2.88%	-0.04%
12 Months	23.68%	14.92%

9 Overlapping Holdings

Symbol	Grade	Weight in ANEW	Weight in RULE	Overlap
ADBE	D	2.34%	2.14%	2.14%
CRM	D	0.27%	2.92%	0.27%
DASH	C	2.19%	2.13%	2.13%
ISRG	C	2.36%	3.2%	2.36%
META	A	2.15%	2.86%	2.15%
MSFT	C	1.87%	2.65%	1.87%
NFLX	B	2.06%	2.35%	2.06%
NOW	A	0.23%	3.11%	0.23%
RMD	C	0.67%	2.83%	0.67%

ANEW Overweight 115 Positions Relative to RULE

Symbol	Grade	Weight
ABBV	C	2.39%
AAPL	D	2.27%
ABT	C	2.24%
MKC	B	2.23%
NVDA	D	2.21%
BSX	B	2.16%
IFF	B	2.09%
DHR	B	2.03%
DE	B	1.98%
BKNG	B	1.97%
CTVA	B	1.95%
AMZN	C	1.9%
BABA	C	1.84%
MRK	D	1.75%
GOOGL	D	1.5%
AVGO	C	1.41%
BDX	F	1.24%
FMC	C	1.1%
V	B	1.02%
CNH	C	0.98%
MA	B	0.93%
SFM	B	0.92%
AMAT	D	0.87%
AGCO	D	0.82%
EW	F	0.72%
EBAY	B	0.65%
EA	D	0.64%
SE	B	0.6%
QCOM	D	0.59%
TTWO	D	0.59%
OMC	A	0.59%
CSCO	B	0.58%
ANSS	F	0.54%
ORCL	B	0.49%
DXCM	F	0.49%
TCOM	C	0.48%
ZD	D	0.48%
DKNG	D	0.47%
NEOG	C	0.46%
SMPL	D	0.46%
MRNA	F	0.45%
WST	D	0.4%
PINS	F	0.4%
SMG	C	0.39%
SXT	C	0.38%
AMD	F	0.37%
ILMN	C	0.35%
DGX	B	0.31%
SNAP	F	0.31%
RARE	B	0.29%
INSP	C	0.29%
DOCS	B	0.27%
CVLT	B	0.25%
PANW	D	0.25%
CHKP	C	0.24%
SMAR	B	0.24%
NTRA	B	0.24%
ACHC	C	0.24%
CCOI	C	0.23%
PRCT	B	0.23%
BOX	B	0.23%
QTWO	B	0.22%
GMED	D	0.22%
FFIV	A	0.22%
VRNS	C	0.22%
EQIX	B	0.21%
TECH	C	0.21%
PYPL	B	0.21%
QGEN	B	0.21%
GH	D	0.21%
TMDX	C	0.21%
JNPR	A	0.21%
NOVT	D	0.21%
NET	F	0.2%
HSIC	C	0.2%
DT	C	0.2%
CYBR	D	0.2%
IDYA	F	0.19%
DBX	D	0.19%
WDAY	D	0.19%
KTOS	B	0.19%
SMTC	C	0.19%
HPE	D	0.19%
AKAM	D	0.19%
NTAP	D	0.19%
PRFT	A	0.19%
BLKB	B	0.19%
TWST	D	0.18%
DOCU	C	0.18%
ENOV	F	0.18%
HOOD	C	0.18%
TNDM	C	0.18%
MEDP	D	0.18%
ALTR	C	0.18%
CRSP	F	0.17%
PCTY	C	0.17%
TENB	D	0.17%
BL	D	0.17%
AI	F	0.16%
NTNX	C	0.16%
SLAB	D	0.16%
NXPI	D	0.16%
IRDM	D	0.16%
EEFT	D	0.16%
MSTR	D	0.15%
PCOR	F	0.15%
SYNA	F	0.15%
CGNX	D	0.15%
CRWD	F	0.14%
MARA	F	0.13%
COIN	F	0.13%
OKTA	F	0.13%
RIOT	F	0.12%
FIVN	F	0.1%
CLSK	F	0.09%

ANEW Underweight 25 Positions Relative to RULE

Symbol	Grade	Weight
BIL	B	-4.4%
JPST	B	-4.39%
VEEV	C	-3.51%
MSI	C	-3.12%
SPHQ	B	-3.09%
REGN	C	-3.08%
SPGI	B	-3.07%
BAX	C	-3.04%
BRO	C	-3.03%
FCNCA	D	-2.98%
COST	C	-2.97%
XLG	B	-2.97%
INTU	D	-2.92%
CAH	C	-2.91%
AON	B	-2.85%
IWF	B	-2.82%
BLDR	C	-2.8%
VRSK	D	-2.65%
BK	A	-2.59%
CPAY	B	-2.58%
IRM	B	-2.58%
IR	C	-2.48%
AXON	B	-2.45%
WMT	B	-2.4%
FTNT	C	-2.24%