BNDX vs. CBLS ETF Comparison

Comparison of Vanguard Total International Bond ETF (BNDX) to Changebridge Capital Long/Short Equity ETF (CBLS)

BNDX

Vanguard Total International Bond ETF

BNDX Description

The investment seeks to track the performance of a benchmark index that measures the investment return of non-U.S. dollar-denominated investment-grade bonds. The fund employs an indexing investment approach designed to track the performance of the Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). This Index provides a broad-based measure of the global, investment-grade, fixed-rate debt markets. It invests by sampling the index. All of the fund's investments will be selected through the sampling process, and at least 80% of the fund's assets will be invested in bonds included in the index. It is non-diversified.

Grade (RS Rating)

Last Trade

$50.04

Average Daily Volume

2,878,479

Number of Holdings ^*

154

* may have additional holdings in another (foreign) market

CBLS

Changebridge Capital Long/Short Equity ETF

CBLS Description

The investment seeks long-term capital appreciation while minimizing volatility. The Adviser also considers an assessment of a company's ESG attributes in determining the attractiveness of an investment opportunity. In general, the fund's investments are broadly invested over a number of sectors, but it may focus on the technology, consumer, and healthcare sectors. Under normal circumstances, at least 80% of the fund's net assets, plus borrowings for investment purposes, will be invested long or short in equity securities, including common stocks and depositary receipts. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$25.31

Average Daily Volume

3,916

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	BNDX	CBLS
30 Days	1.04%	0.35%
60 Days	0.96%	2.67%
90 Days	3.49%	-2.43%
12 Months	10.54%	36.11%

11 Overlapping Holdings

Symbol	Grade	Weight in BNDX	Weight in CBLS	Overlap
ASML	F	0.01%	2.42%	0.01%
DE	B	0.01%	-1.69%	-1.69%
ECL	B	0.01%	2.21%	0.01%
HOG	D	0.01%	-1.35%	-1.35%
IBM	A	0.01%	-0.91%	-0.91%
MSFT	D	0.01%	2.03%	0.01%
NEE	A	0.01%	2.46%	0.01%
ORCL	C	0.01%	1.94%	0.01%
RTX	A	0.01%	1.5%	0.01%
SO	A	0.01%	2.38%	0.01%
WMT	A	0.01%	2.24%	0.01%

BNDX Overweight 143 Positions Relative to CBLS

Symbol	Grade	Weight
SPG	A	0.01%
SLB	D	0.01%
SCOR	F	0.01%
ZBH	F	0.01%
XYL	C	0.01%
WM	B	0.01%
WHR	C	0.01%
WELL	C	0.01%
WBA	F	0.01%
VTRS	D	0.01%
VTR	C	0.01%
VFC	B	0.01%
UPS	D	0.01%
TEL	D	0.01%
TAP	D	0.01%
SYY	D	0.01%
SYK	C	0.01%
AL	D	0.01%
AIG	F	0.01%
CP	D	0.01%
COF	C	0.01%
EMR	B	0.01%
EMN	C	0.01%
NDAQ	B	0.01%
EEFT	F	0.01%
MRK	F	0.01%
MP	B	0.01%
CL	D	0.01%
EDC	B	0.01%
DXC	B	0.01%
DSM	A	0.01%
MMM	C	0.01%
MHK	B	0.01%
CE	C	0.01%
CCEP	D	0.01%
DIS	D	0.01%
MET	B	0.01%
MCO	D	0.01%
MCK	F	0.01%
MAN	D	0.01%
MA	A	0.01%
LYB	F	0.01%
LLY	D	0.01%
BWA	C	0.01%
BX	C	0.01%
PEP	F	0.01%
BSX	A	0.01%
IFF	C	0.01%
PSA	C	0.01%
KMI	A	0.01%
KKR	C	0.01%
K	A	0.01%
BMY	B	0.01%
JNJ	D	0.01%
BLK	A	0.01%
BIP	C	0.01%
PPL	B	0.01%
PPG	D	0.01%
PM	D	0.01%
BDX	C	0.01%
PFE	D	0.01%
GM	D	0.01%
GLW	C	0.01%
GIS	C	0.01%
OMC	C	0.01%
OBND	A	0.01%
O	A	0.01%
BACA	F	0.01%
AZN	D	0.01%
APTV	D	0.01%
APD	C	0.01%
FDX	F	0.01%
ITW	B	0.01%
INTC	D	0.01%
AON	B	0.01%
AMT	C	0.01%
AMGN	D	0.01%
AMCR	C	0.01%
ETN	C	0.01%
SE	B	0.01%
RY	C	0.01%
TMO	D	0.01%
XOM	A	0.01%
WPC	C	0.01%
VOD	D	0.01%
USB	D	0.01%
MUFG	F	0.01%
CRH	C	0.01%
ADM	F	0.01%
TD	B	0.01%
MO	D	0.01%
ABBV	B	0.01%
AAPL	C	0.01%
DOV	B	0.01%
DOW	B	0.01%
CB	B	0.01%
DHY	C	0.01%
DHR	D	0.01%
MDT	C	0.01%
MDLZ	D	0.01%
MCD	A	0.01%
KO	C	0.01%
LIN	B	0.01%
CAF	B	0.01%
BKNG	C	0.01%
BHP	B	0.01%
BG	F	0.01%
HON	C	0.01%
JCI	C	0.01%
BAX	D	0.01%
GE	C	0.01%
PG	D	0.01%
GSK	F	0.01%
PLD	D	0.01%
PH	B	0.01%
EQNR	C	0.01%
DB	C	0.01%
FIS	B	0.01%
BAC	D	0.01%
GS	D	0.01%
BMO	B	0.01%
BNS	C	0.01%
KSA	D	0.01%
DLR	C	0.01%
MS	B	0.01%
ABT	C	0.01%
T	A	0.01%
UBS	B	0.01%
WFC	F	0.01%
VZ	B	0.01%
SEB	F	0.01%
STLA	F	0.01%
C	C	0.01%
EDF	B	0.01%
DT	B	0.01%
CMCSA	C	0.01%
NWG	D	0.01%
HSBC	A	0.01%
CM	C	0.01%
JPM	D	0.01%
COE	D	0.01%
CAN	D	0.01%
BGB	B	0.01%

BNDX Underweight 50 Positions Relative to CBLS

Symbol	Grade	Weight
STRL	C	-3.36%
LNG	A	-2.92%
SKY	B	-2.86%
CHK	D	-2.69%
SCI	D	-2.68%
BLBD	D	-2.64%
WTTR	B	-2.63%
NEM	C	-2.6%
IBN	C	-2.6%
OSW	C	-2.6%
BABA	B	-2.59%
ERJ	C	-2.59%
DELL	C	-2.58%
ETR	A	-2.53%
MMYT	D	-2.52%
BOWL	F	-2.49%
ICFI	C	-2.49%
TMDX	D	-2.43%
MGNI	D	-2.41%
ROL	C	-2.4%
D	A	-2.36%
AER	D	-2.33%
AVGO	C	-2.26%
NU	D	-2.24%
UNH	B	-2.19%
COST	C	-2.18%
AMZN	C	-2.16%
HUMA	D	-1.97%
AMD	B	-1.93%
TDG	B	-1.54%
GD	C	-1.47%
KLAC	B	-1.29%
AFRM	C	--0.3%
VSAT	F	--0.84%
TTC	D	--0.94%
TASK	F	--0.97%
VRNT	F	--1.0%
ROK	C	--1.01%
ENR	B	--1.01%
KMT	D	--1.08%
CTVA	A	--1.1%
CHH	C	--1.1%
PAYX	A	--1.12%
BC	D	--1.14%
FIVN	F	--1.15%
MIDD	D	--1.16%
DOOO	F	--1.29%
DFS	C	--1.29%
R	C	--1.63%
GIII	D	--1.63%