BOUT vs. AFSM ETF Comparison

Comparison of Innovator IBD Breakout Opportunities ETF (BOUT) to Active Factor Small Cap ETF (AFSM)

BOUT

Innovator IBD Breakout Opportunities ETF

BOUT Description

The investment seeks to track, before fees and expenses, the performance of the IBD® Breakout Stocks Index (the "index"). The fund will normally invest at least 80% of its net assets (including investment borrowings) in the equity securities that comprise the index. The index seeks to provide opportunistic investment exposure to those stocks with the potential to "break out," or experience a period of sustained price growth beyond the stock's recent "resistance level," with consideration for various market conditions. The fund is non-diversified. BOUT uses technical analysis to find stocks that are likely to breakout. The funds index relies on an algorithm that establishes a base price (a recent high) for each eligible security. The index then follows the trend for each stock. Selected stocks are ranked by a combination of relative strength and fundamental factors, and then weighted in fixed tiers according to this ranking. In addition, BOUT will move 50% of its portfolio into T-bills based on market signals: a rapid increase in either margin debt or overall stock prices, combined with slowing reversing momentum in the S&P 500. The T-bill position will remain in place until the S&P 500 falls by 50% or show indications of rising momentum. BOUT is rebalanced and reconstituted weekly after the close on Friday. The frequent rebalance schedule means the fund will be highly responsive to the technical factors that drive its strategy, but could also experience high turnover.

Grade (RS Rating)

Last Trade

$36.31

Average Daily Volume

1,208

Number of Holdings ^*

126

* may have additional holdings in another (foreign) market

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

$30.46

Average Daily Volume

6,218

Number of Holdings ^*

295

* may have additional holdings in another (foreign) market

Performance

Period	BOUT	AFSM
30 Days	-0.91%	-0.31%
60 Days	5.16%	4.84%
90 Days	3.69%	7.75%
12 Months	22.01%	27.35%

12 Overlapping Holdings

Symbol	Grade	Weight in BOUT	Weight in AFSM	Overlap
ALKT	D	0.31%	0.11%	0.11%
ANF	D	0.69%	0.88%	0.69%
AROC	C	0.66%	0.6%	0.6%
ATGE	C	1.31%	0.28%	0.28%
GMED	D	0.66%	0.57%	0.57%
HALO	D	0.68%	0.71%	0.68%
IDCC	A	2.33%	0.94%	0.94%
NMIH	C	1.34%	0.65%	0.65%
PSN	A	1.95%	0.27%	0.27%
SWI	C	2.24%	0.03%	0.03%
VRNS	C	0.63%	0.31%	0.31%
WFRD	F	1.31%	0.42%	0.42%

BOUT Overweight 114 Positions Relative to AFSM

Symbol	Grade	Weight
FFTY	C	8.0%
MELI	C	2.45%
KLAC	D	2.39%
VIK	B	2.36%
SPGI	C	2.36%
PACS	C	2.36%
QRVO	F	2.35%
AHR	C	2.34%
NXPI	F	2.33%
NVS	D	2.33%
CHKP	C	2.33%
PGR	C	2.32%
NEM	C	2.29%
MWA	B	2.28%
MS	B	2.06%
GS	D	2.05%
MPWR	C	2.03%
OLED	C	2.02%
AXP	A	2.01%
AX	D	2.01%
PPC	A	1.99%
ISRG	C	1.99%
FANG	F	1.99%
MOD	C	1.98%
MMM	B	1.97%
KNTK	C	1.97%
ADBE	F	1.97%
IOT	C	1.91%
ALNY	B	1.35%
RSG	D	1.34%
ROST	C	1.34%
AEM	C	1.33%
GOOGL	C	1.32%
HLNE	A	1.31%
EHC	B	1.31%
PANW	D	1.3%
NVO	F	1.3%
MANH	C	1.3%
AAON	B	1.28%
NOW	C	1.23%
NBIX	F	0.69%
PSTG	F	0.68%
BKNG	C	0.68%
PLTR	C	0.67%
INTU	F	0.67%
DSGX	C	0.67%
VNOM	B	0.66%
NFLX	C	0.66%
MPLX	A	0.66%
CYBR	C	0.66%
MMYT	D	0.33%
AMSC	D	0.33%
ELF	F	0.32%
CLS	C	0.32%
SRPT	F	0.31%
PINS	D	0.31%
IBKR	A	0.31%
HESM	D	0.31%
GRMN	D	0.31%
FN	C	0.31%
CRWD	D	0.31%
ARM	C	0.31%
ARIS	C	0.31%
DDOG	D	0.3%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%
FFTY	C	0.0%

BOUT Underweight 283 Positions Relative to AFSM

Symbol	Grade	Weight
NHC	D	-1.21%
MLI	B	-1.13%
SKYW	B	-0.98%
ALKS	C	-0.92%
CPRX	C	-0.86%
TNK	D	-0.85%
MHO	A	-0.84%
CRS	B	-0.83%
MTG	B	-0.81%
SFM	A	-0.81%
RDN	D	-0.78%
DAKT	D	-0.78%
PFBC	D	-0.78%
BCC	B	-0.77%
UVE	C	-0.75%
FIX	B	-0.73%
ZETA	B	-0.72%
TMHC	B	-0.72%
CVLT	C	-0.71%
EME	C	-0.71%
TBBK	C	-0.68%
JXN	B	-0.68%
STRL	C	-0.68%
HWKN	A	-0.65%
BMI	A	-0.65%
NHI	C	-0.64%
PLUS	C	-0.64%
CALM	A	-0.63%
UFPT	D	-0.62%
NTB	D	-0.61%
SLVM	C	-0.61%
COOP	C	-0.61%
PI	B	-0.6%
MCY	B	-0.6%
CRVL	C	-0.6%
SANM	D	-0.6%
SLG	C	-0.6%
CEIX	B	-0.59%
LNTH	C	-0.59%
OFG	D	-0.58%
DOLE	C	-0.58%
COKE	B	-0.58%
ACT	C	-0.57%
KBH	C	-0.57%
BELFB	B	-0.56%
GMS	D	-0.56%
FDP	B	-0.56%
BTU	B	-0.55%
STBA	D	-0.55%
MUSA	D	-0.54%
APPF	C	-0.54%
HSII	B	-0.54%
PRK	D	-0.53%
DFIN	D	-0.51%
SUPN	D	-0.51%
REZI	F	-0.51%
CHCO	D	-0.51%
HRB	C	-0.5%
TGNA	B	-0.5%
BXC	D	-0.5%
IIPR	C	-0.5%
AMWD	C	-0.5%
DDS	D	-0.49%
TEX	F	-0.48%
BRBR	B	-0.48%
BLBD	D	-0.48%
POWL	A	-0.47%
RMR	B	-0.47%
CORT	B	-0.46%
EGBN	C	-0.46%
YOU	C	-0.46%
CSWI	B	-0.45%
EVER	D	-0.45%
PLAB	D	-0.45%
ADUS	C	-0.45%
PINC	F	-0.44%
LPG	F	-0.44%
PRDO	D	-0.44%
VRNT	F	-0.43%
HRMY	B	-0.43%
AMR	F	-0.42%
CAL	F	-0.42%
SIG	C	-0.41%
SPNS	C	-0.41%
ESNT	C	-0.41%
CVNA	A	-0.4%
M	F	-0.4%
BDC	B	-0.4%
PRGS	B	-0.4%
MTH	B	-0.4%
YMAB	D	-0.39%
WNC	F	-0.39%
CNXN	C	-0.39%
ANIP	D	-0.38%
CCRN	F	-0.37%
INMD	F	-0.37%
GRBK	B	-0.37%
TMDX	D	-0.37%
HIW	C	-0.37%
PDM	C	-0.36%
LGND	D	-0.36%
HDSN	D	-0.35%
BPMC	F	-0.35%
PBF	F	-0.35%
FBP	D	-0.35%
RXST	F	-0.35%
HIMS	C	-0.35%
ASO	D	-0.35%
ODP	F	-0.34%
TWI	D	-0.34%
MATX	B	-0.34%
LOPE	D	-0.33%
SCS	D	-0.33%
MOG.A	B	-0.33%
AVNS	C	-0.33%
QTWO	C	-0.33%
BNL	B	-0.32%
LRN	C	-0.32%
RDNT	C	-0.32%
APOG	B	-0.32%
CRAI	B	-0.32%
ATKR	F	-0.32%
CUZ	C	-0.31%
ASC	D	-0.31%
USLM	C	-0.31%
CMC	C	-0.31%
SBRA	C	-0.3%
IESC	B	-0.3%
CASH	D	-0.3%
PRMW	C	-0.3%
PFS	D	-0.29%
AKR	B	-0.29%
BKE	C	-0.29%
TILE	B	-0.29%
DXC	D	-0.29%
GNK	C	-0.29%
TRMK	D	-0.29%
IBOC	D	-0.28%
MD	B	-0.28%
BKH	B	-0.28%
CNK	C	-0.28%
PRG	C	-0.28%
TCMD	C	-0.28%
THFF	D	-0.27%
PHIN	D	-0.27%
GEO	F	-0.27%
INSW	C	-0.27%
GIII	C	-0.27%
HCI	C	-0.27%
HUBG	D	-0.27%
AZZ	C	-0.27%
BHE	C	-0.27%
ONTO	C	-0.26%
PRM	B	-0.26%
HCC	D	-0.26%
ADMA	B	-0.26%
VIRT	C	-0.26%
DNOW	F	-0.26%
HURN	C	-0.26%
MEDP	F	-0.26%
AMKR	F	-0.26%
MED	F	-0.25%
BKU	D	-0.25%
ABG	D	-0.25%
ITCI	D	-0.24%
SMP	D	-0.24%
IMKTA	F	-0.24%
KELYA	D	-0.23%
KN	D	-0.23%
HLX	D	-0.23%
NTCT	C	-0.23%
SBH	B	-0.23%
NUS	F	-0.22%
STNG	D	-0.22%
LMAT	B	-0.22%
DHT	B	-0.22%
UCTT	D	-0.22%
ENS	C	-0.22%
GOGL	C	-0.22%
PIPR	C	-0.22%
CMPR	F	-0.22%
VNDA	F	-0.22%
MRVI	D	-0.22%
INTA	C	-0.22%
NSSC	F	-0.22%
EXTR	D	-0.21%
ADNT	D	-0.21%
HAE	D	-0.21%
TNC	F	-0.21%
CRDO	C	-0.21%
SIGA	F	-0.21%
PK	D	-0.21%
BLFS	D	-0.2%
SXC	F	-0.2%
ASGN	D	-0.2%
NX	F	-0.2%
NAVI	D	-0.2%
HY	F	-0.2%
XRX	F	-0.2%
KRC	C	-0.2%
HOV	C	-0.2%
GES	F	-0.19%
AXSM	C	-0.19%
VSH	F	-0.19%
WABC	F	-0.19%
VCTR	C	-0.18%
SGBX	F	-0.18%
SCVL	C	-0.18%
BRC	C	-0.17%
NVST	D	-0.17%
SD	F	-0.17%
AGX	B	-0.17%
OSCR	C	-0.17%
TPC	B	-0.16%
SCSC	D	-0.15%
HROW	C	-0.15%
CWCO	F	-0.14%
ASTH	B	-0.14%
CLW	F	-0.14%
METC	D	-0.14%
TWST	D	-0.14%
TGTX	C	-0.14%
CECO	D	-0.14%
TARS	C	-0.14%
MAX	D	-0.14%
AYI	A	-0.13%
NECB	B	-0.13%
MOV	F	-0.13%
ALRM	F	-0.13%
PCRX	F	-0.12%
CHRD	F	-0.12%
AIT	A	-0.12%
EIG	B	-0.12%
CGEM	F	-0.12%
CSGS	C	-0.12%
INVA	B	-0.11%
AMCX	F	-0.1%
GFF	B	-0.1%
SPSC	D	-0.1%
RAMP	F	-0.09%
YEXT	B	-0.09%
KSS	D	-0.08%
CTRE	B	-0.08%
KRYS	D	-0.08%
KTB	B	-0.08%
MLKN	F	-0.08%
NSIT	C	-0.07%
WGO	D	-0.07%
OMI	F	-0.07%
TPH	B	-0.07%
COLL	B	-0.06%
VSTO	D	-0.06%
EOLS	B	-0.06%
JWN	D	-0.06%
AMN	F	-0.06%
REVG	D	-0.05%
OTTR	F	-0.05%
SEMR	B	-0.05%
ATEN	C	-0.05%
ETH	D	-0.05%
SWX	C	-0.05%
FORM	F	-0.05%
ANDE	D	-0.05%
GRND	D	-0.05%
FTDR	C	-0.05%
CTS	D	-0.05%
APAM	C	-0.05%
OGS	A	-0.05%
AMPH	C	-0.05%
VITL	C	-0.04%
LBRT	F	-0.04%
JBI	F	-0.04%
HE	F	-0.04%
TDC	D	-0.04%
PHR	F	-0.04%
RYI	F	-0.03%
ACLS	F	-0.03%
PGNY	F	-0.03%
EMBC	D	-0.03%
ACIW	A	-0.02%
MITK	F	-0.0%
MAIN	B	-0.0%
EPAC	C	-0.0%