BEEZ vs. KEAT ETF Comparison

Comparison of Honeytree U.S. Equity ETF (BEEZ) to Keating Active ETF (KEAT)

BEEZ

Honeytree U.S. Equity ETF

BEEZ Description

The fund is an actively managed exchange-traded fund ("ETF") sub-advised by Honeytree Investment Management Ltd. (the "Sub-Adviser"). The fund does not seek to replicate the performance of a specified index. The fund seeks to achieve its investment objective by investing at least 80% of the fund"s net assets, plus borrowings for investment purposes in a concentrated portfolio of large-cap and mid-cap U.S. listed equity stocks.

Grade (RS Rating)

Last Trade

$29.81

Average Daily Volume

1,130

Number of Holdings ^*

10

* may have additional holdings in another (foreign) market

KEAT

Keating Active ETF

KEAT Description

KEAT actively invests in equity securities of all-cap companies considered undervalued based on the subadvisor's fundamental research. These securities include common stock, preferred stock, REITs, ADRs, and GDRs. The fund also considers and invests in international ETFs in the same manner it selects its individual securities. The sub-adviser initially identifies potential investment opportunities through public disclosures, and assesses their financial condition based on sustainable earnings and future cash flows through financial and strategic analyses. The portfolio will typically be comprised of 25 to 40 securities, all selected to offer exceptional value and have defensible positions. The fund also emphasizes companies with good shareholder yield. It intends to hold its positions for a year or more and sells them when it reaches its fair value or has become overvalued. KEAT may also hold short-term Treasurys in seeking total return.

Grade (RS Rating)

Last Trade

$24.88

Average Daily Volume

4,160

Number of Holdings ^*

8

* may have additional holdings in another (foreign) market

Performance

Period	BEEZ	KEAT
30 Days	1.99%	-1.97%
60 Days	2.48%	-0.11%
90 Days	0.33%	-2.44%
12 Months

0 Overlapping Holdings

	Symbol	Grade	Weight in BEEZ	Weight in KEAT	Overlap

BEEZ Overweight 10 Positions Relative to KEAT

	Symbol	Grade	Weight
	EQIX	D	4.38%
	AMT	B	4.33%
	APD	D	4.3%
	TXN	B	4.26%
	COST	A	4.22%
	TSCO	D	4.21%
	ZTS	C	4.12%
	EW	B	4.06%
	LRCX	A	4.03%
	MAS	D	3.97%

BEEZ Underweight 8 Positions Relative to KEAT

	Symbol	Grade	Weight
	STIP	B	-29.06%
	GOLD	C	-3.87%
	TTE	C	-3.55%
	EQC	B	-3.54%
	OII	B	-3.45%
	LBTYK	B	-3.28%
	LMT	B	-2.93%
	VZ	B	-2.88%

BEEZ: Top Represented Industries & Keywords

Industries: Building Materials Chemicals Discount Stores Drug Manufacturers - Specialty & Generic Medical Devices REIT - Diversified Semiconductor Equipment & Materials Semiconductors Specialty Retail Telecom Services

Keywords: S&P 500 Nasdaq 100 Semiconductor Computing Electronics Integrated Circuits Oxygen Retailing Transistor Adhesives Air Separation Alcohol Ammonia Analog Devices Analog Products Analysis Services Animal Health Animal Product Animal Products Anti Infectives

KEAT: Top Represented Industries & Keywords

Industries: Aerospace & Defense Gold Oil & Gas Equipment & Services Oil & Gas Integrated Pay TV REIT - Office Telecom Services

Keywords: Broadband Internet Access S&P 500 Telecommunications Video Services VoIP Access Devices Adhesives Aerospace Aerospace Industries Air Systems Aircraft Asset Integrity Management Aviation B2B Bloomberg Barclays Us Aggregate Bond Index Bond Bond Market Broadband Internet Broadband Services