BERZ vs. RVER ETF Comparison

Comparison of MicroSectors FANG & Innovation -3x Inverse Leveraged ETN (BERZ) to Advisor Managed Portfolios Trenchless Fund ETF (RVER)

BERZ

MicroSectors FANG & Innovation -3x Inverse Leveraged ETN

BERZ Description

BERZ provides daily -3x inverse exposure to an index of FANG and technology companies that meet certain requirements. The fund will consistently comprise eight core components (Alphabet, Amazon, Apple, Facebook, Microsoft, Netflix, NVIDIA, and Tesla) and include seven companies determined through a selection methodology. Eligible securities must be listed on a US exchange, classified in the technology sector, and have a market cap of at least 10 billion USD. Selection will begin with ranking the securities by market cap and selecting the 30 largest companies which will then be sorted by 12-month average daily value traded. The top seven stocks will complete the index along with the eight core components and are then equally weighted. The index is rebalanced monthly and reconstituted quarterly. As a leveraged inverse product with -3x factor that resets daily, BERZ is not a buy-and-hold investment and should not be expected to provide index leverage return greater than a one day period.

Grade (RS Rating)

Last Trade

$21.10

Average Daily Volume

130,735

Number of Holdings ^*

* may have additional holdings in another (foreign) market

RVER

Advisor Managed Portfolios Trenchless Fund ETF

RVER Description

RVER seeks to outperform the S&P 500 Index over all time horizons through a narrow exposure to the US equity market. The fund typically invests in approximately 12 to 30 US-listed stocks of any market capitalization. The portfolio construction starts by screening companies based on valuation metrics such as free cash flow, net income, EBITDA, and revenue. Securities are then assessed using growth factors, including top and bottom-line revenue and net income growth. This analysis seeks to exclude firms with negative outliers and those the sub-adviser believes are likely to miss earnings expectations. The remaining companies are screened based on a review of the number and size of institutional holders. After these three initial screens, the sub-adviser ranks and selects from the remaining companies based on its view of positive price change potential. As an actively managed fund, the sub-adviser has full discretion to make buy, sell, and hold decisions at any time.

Grade (RS Rating)

Last Trade

$25.56

Average Daily Volume

2,827

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	BERZ	RVER
30 Days	9.95%	2.59%
60 Days	4.15%	1.71%
90 Days	3.69%	2.32%
12 Months	-68.65%

3 Overlapping Holdings

Symbol	Grade	Weight in BERZ	Weight in RVER	Overlap
AMD	F	6.67%	5.28%	5.28%
GOOGL	D	6.67%	6.21%	6.21%
NVDA	D	6.67%	5.59%	5.59%

BERZ Overweight 12 Positions Relative to RVER

Symbol	Grade	Weight
TSLA	C	6.67%
CRM	D	6.67%
PANW	D	6.67%
NFLX	B	6.67%
MU	F	6.67%
INTC	F	6.67%
AVGO	C	6.67%
AMZN	C	6.67%
ADBE	D	6.67%
AAPL	D	6.67%
MSFT	C	6.67%
META	A	6.67%

BERZ Underweight 6 Positions Relative to RVER

Symbol	Grade	Weight
LYFT	D	-14.47%
SOFI	C	-7.09%
CART	A	-6.07%
SNAP	F	-5.76%
SQ	D	-5.38%
TSM	D	-5.34%