BTAL vs. CBLS ETF Comparison

Comparison of QuantShares U.S. Market Neutral Anti Beta Fund ETF (BTAL) to Changebridge Capital Long/Short Equity ETF (CBLS)

BTAL

QuantShares U.S. Market Neutral Anti Beta Fund ETF

BTAL Description

The investment seeks performance results that correspond to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Thematic Market Neutral Anti-Beta Index. The fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in common stock, including the short positions, in the Target Anti-Beta Index. The Target Anti-Beta Index is a market neutral index that is dollar-neutral. As such, it identifies long and short securities positions of approximately equal dollar amounts. In choosing to track a market neutral index, the fund seeks to limit the effects of general market movements on the fund.

Grade (RS Rating)

Last Trade

$19.89

Average Daily Volume

706,428

Number of Holdings ^*

391

* 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

$25.39

Average Daily Volume

3,916

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	BTAL	CBLS
30 Days	-3.31%	0.35%
60 Days	-3.49%	2.67%
90 Days	2.37%	-2.43%
12 Months	-2.02%	36.11%

14 Overlapping Holdings

Symbol	Grade	Weight in BTAL	Weight in CBLS	Overlap
AFRM	C	-0.52%	-0.3%	-0.52%
AMD	C	-0.45%	1.93%	-0.45%
AVGO	B	-0.45%	2.26%	-0.45%
CHH	A	0.44%	-1.1%	-1.1%
D	A	-0.45%	2.36%	-0.45%
DELL	C	-0.43%	2.58%	-0.43%
GD	C	0.43%	1.47%	0.43%
IBM	A	0.47%	-0.91%	-0.91%
LNG	A	0.43%	2.92%	0.43%
MSFT	D	0.42%	2.03%	0.42%
NEM	C	0.43%	2.6%	0.43%
PAYX	B	0.45%	-1.12%	-1.12%
RTX	A	0.44%	1.5%	0.44%
UNH	B	0.42%	2.19%	0.42%

BTAL Overweight 377 Positions Relative to CBLS

Symbol	Grade	Weight
MSTR	B	0.5%
ERIE	A	0.49%
FFIV	B	0.47%
ORLY	A	0.47%
BWXT	A	0.47%
BMY	A	0.47%
RNR	A	0.47%
MKL	B	0.47%
T	B	0.47%
IBKR	A	0.47%
MDU	C	0.46%
HEI	C	0.46%
TGNA	B	0.46%
UNM	A	0.46%
SFM	A	0.46%
VZ	C	0.46%
CACI	A	0.46%
GILD	A	0.46%
VFC	A	0.46%
SBRA	C	0.46%
SAIC	A	0.46%
CMS	A	0.45%
THG	A	0.45%
CCK	C	0.45%
CDP	A	0.45%
KR	C	0.45%
TDY	A	0.45%
WELL	C	0.45%
DLB	D	0.45%
TXRH	A	0.45%
AEE	A	0.45%
TRV	B	0.45%
CME	A	0.45%
KMI	A	0.45%
ARMK	C	0.45%
ALSN	A	0.45%
DD	C	0.45%
PNM	B	0.45%
RYAN	A	0.45%
MSI	A	0.45%
XEL	C	0.45%
CF	A	0.45%
DOX	B	0.44%
CSCO	A	0.44%
AXS	A	0.44%
DUK	C	0.44%
VRSN	C	0.44%
NEU	F	0.44%
ACGL	A	0.44%
GIS	C	0.44%
PGR	B	0.44%
YUM	C	0.44%
WEC	B	0.44%
PAYC	D	0.44%
CHRW	C	0.44%
PCTY	C	0.44%
SIGI	D	0.44%
MKC	C	0.44%
HIG	A	0.44%
HQY	B	0.44%
RGA	B	0.44%
EG	A	0.44%
LNT	B	0.44%
SNA	C	0.44%
EDR	A	0.44%
CB	A	0.44%
ALL	A	0.44%
NWL	D	0.44%
ED	C	0.44%
BKR	B	0.44%
BWA	C	0.44%
DRI	C	0.44%
CW	A	0.44%
GLW	C	0.44%
RLI	A	0.44%
ROP	D	0.44%
LMT	A	0.43%
OLLI	C	0.43%
UTHR	C	0.43%
SLGN	B	0.43%
CHD	D	0.43%
CBOE	B	0.43%
CSX	D	0.43%
CINF	A	0.43%
AVB	C	0.43%
WH	C	0.43%
OHI	C	0.43%
MCD	A	0.43%
XOM	A	0.43%
ADP	A	0.43%
PKG	B	0.43%
ZI	F	0.43%
FTNT	A	0.43%
CMG	C	0.43%
ACN	B	0.43%
WEN	B	0.43%
WPC	C	0.43%
FOXF	F	0.43%
FOXA	B	0.43%
ADC	C	0.43%
FCN	C	0.43%
DBX	C	0.43%
MSM	D	0.43%
BRO	A	0.43%
PCAR	D	0.43%
NOC	B	0.43%
PNW	C	0.43%
HPQ	B	0.42%
KO	C	0.42%
CLH	B	0.42%
VICI	C	0.42%
AKAM	D	0.42%
ABBV	C	0.42%
WTW	C	0.42%
ASGN	D	0.42%
CTSH	B	0.42%
WM	B	0.42%
FLO	D	0.42%
PFE	D	0.42%
CHE	D	0.42%
AMGN	D	0.42%
LPLA	D	0.42%
G	A	0.42%
TMUS	A	0.42%
JNPR	C	0.42%
DGX	D	0.42%
O	C	0.42%
AON	A	0.42%
FMC	C	0.42%
COLM	B	0.42%
JNJ	D	0.42%
REG	C	0.42%
AIZ	B	0.42%
GLPI	C	0.42%
MTCH	B	0.42%
AMCR	C	0.42%
ORI	A	0.42%
EQR	C	0.42%
CXT	F	0.41%
CPB	D	0.41%
KHC	F	0.41%
GPC	D	0.41%
KBR	A	0.41%
ELV	F	0.41%
AVT	B	0.41%
ARW	C	0.41%
MAN	D	0.41%
BG	F	0.41%
TJX	D	0.41%
HON	C	0.41%
HRB	C	0.41%
TXT	F	0.41%
L	C	0.41%
CI	D	0.41%
WRB	C	0.41%
VTRS	D	0.41%
ELS	D	0.41%
ON	F	0.4%
TNET	D	0.4%
JAZZ	F	0.4%
PAG	D	0.4%
SNX	C	0.4%
MOH	F	0.4%
COR	F	0.4%
MSA	F	0.4%
RSG	D	0.4%
BILL	D	0.4%
MMC	D	0.4%
ST	F	0.39%
CNC	F	0.39%
MUSA	D	0.39%
OXY	D	0.39%
MOS	F	0.39%
LULU	D	0.39%
MCK	F	0.39%
DVN	F	0.38%
J	F	0.38%
DECK	B	0.38%
CFLT	F	0.38%
X	F	0.38%
FANG	D	0.38%
MUR	F	0.38%
SRPT	F	0.37%
AGL	F	0.36%
WTM	C	0.35%
BMRN	F	0.32%
AZO	D	0.31%
HUM	F	0.3%
BRZE	F	-0.3%
ELF	F	-0.3%
RIVN	F	-0.31%
CNXC	F	-0.31%
WOLF	F	-0.32%
CELH	F	-0.33%
ALLY	F	-0.34%
MRNA	F	-0.34%
OPEN	F	-0.34%
SMCI	F	-0.34%
RUN	D	-0.35%
COIN	F	-0.35%
NTLA	F	-0.35%
ARWR	F	-0.35%
SEDG	F	-0.36%
DKS	D	-0.37%
CNM	F	-0.37%
MPWR	B	-0.37%
NVCR	F	-0.37%
GH	F	-0.37%
MKSI	F	-0.38%
RMBS	F	-0.38%
ENPH	F	-0.38%
TXG	F	-0.38%
MTDR	D	-0.38%
KMX	F	-0.38%
DAR	F	-0.38%
ZS	F	-0.38%
RIG	F	-0.38%
WBA	F	-0.39%
XPO	F	-0.39%
APG	F	-0.39%
AMKR	F	-0.39%
SNV	D	-0.4%
F	D	-0.4%
ZION	D	-0.4%
EW	F	-0.4%
OC	C	-0.4%
DINO	F	-0.4%
RKT	D	-0.4%
NVDA	B	-0.4%
OZK	D	-0.41%
EFX	D	-0.41%
PLD	D	-0.41%
SHLS	F	-0.41%
BBWI	F	-0.41%
PTON	C	-0.41%
TER	C	-0.41%
GTLS	D	-0.41%
LRCX	D	-0.41%
PATH	D	-0.41%
TGT	C	-0.41%
PENN	D	-0.41%
PEN	D	-0.41%
CRL	F	-0.41%
ROIV	D	-0.41%
COTY	F	-0.41%
CFG	C	-0.41%
LNC	B	-0.41%
ELAN	D	-0.41%
CRSP	F	-0.41%
PNFP	B	-0.41%
CHX	C	-0.42%
TROW	D	-0.42%
RF	B	-0.42%
RBLX	D	-0.42%
SQ	D	-0.42%
RGEN	F	-0.42%
CSGP	F	-0.42%
NET	D	-0.42%
POWI	F	-0.42%
USB	C	-0.42%
ARE	D	-0.43%
RMD	C	-0.43%
UBER	C	-0.43%
MU	D	-0.43%
ALGN	D	-0.43%
THO	C	-0.43%
AGNC	B	-0.43%
SOFI	C	-0.43%
CAR	D	-0.43%
SCHW	D	-0.43%
NTRS	B	-0.43%
UGI	C	-0.43%
KSS	D	-0.43%
WMS	D	-0.43%
CCL	C	-0.44%
CWEN	C	-0.44%
SSD	B	-0.44%
GME	D	-0.44%
WAL	C	-0.44%
MRVL	C	-0.44%
HHH	C	-0.44%
TFX	C	-0.44%
KRC	C	-0.44%
TREX	D	-0.44%
AWK	D	-0.44%
SEE	C	-0.44%
IDXX	D	-0.44%
GNRC	B	-0.44%
NVT	C	-0.44%
VEEV	C	-0.44%
WCC	D	-0.44%
JHG	A	-0.44%
CC	D	-0.44%
CE	D	-0.44%
AXTA	C	-0.44%
DAY	C	-0.45%
HOOD	B	-0.45%
USFD	C	-0.45%
RYN	C	-0.45%
PWR	A	-0.45%
RRC	D	-0.45%
CRWD	D	-0.45%
PINS	D	-0.45%
PFGC	A	-0.45%
EL	D	-0.45%
TTD	A	-0.45%
NWE	C	-0.45%
ILMN	B	-0.45%
MGM	D	-0.45%
EXPE	B	-0.45%
BLD	D	-0.45%
CMA	C	-0.45%
IOT	C	-0.46%
LAMR	C	-0.46%
ETN	B	-0.46%
ITT	C	-0.46%
TOL	C	-0.46%
LYFT	D	-0.46%
FND	C	-0.46%
NTRA	A	-0.46%
MDB	D	-0.46%
PYPL	A	-0.46%
BXP	B	-0.46%
BX	C	-0.46%
JLL	C	-0.46%
CG	B	-0.46%
SHW	C	-0.46%
ROKU	C	-0.46%
DKNG	C	-0.46%
ALB	D	-0.46%
Z	C	-0.47%
BLDR	C	-0.47%
AR	C	-0.47%
ANET	A	-0.47%
TRU	C	-0.47%
TT	A	-0.47%
KKR	A	-0.47%
CBRE	C	-0.47%
FOUR	A	-0.47%
EXP	C	-0.48%
EQT	C	-0.48%
CVNA	A	-0.48%
FCX	B	-0.48%
URI	C	-0.48%
OWL	A	-0.48%
CARR	A	-0.48%
LPX	C	-0.48%
INTC	D	-0.48%
DASH	A	-0.48%
SAIA	D	-0.48%
FBIN	C	-0.48%
TOST	B	-0.48%
NRG	A	-0.48%
VNO	B	-0.49%
AES	C	-0.49%
SNAP	D	-0.49%
AA	B	-0.49%
AXON	A	-0.49%
COHR	B	-0.49%
CZR	B	-0.49%
LITE	A	-0.49%
TSLA	C	-0.5%
DNLI	C	-0.5%
TPG	A	-0.5%
DAL	C	-0.51%
LYV	A	-0.51%
W	C	-0.52%
FYBR	C	-0.52%
PLTR	A	-0.52%
PODD	C	-0.52%
SMG	C	-0.53%
TDOC	D	-0.53%
RH	C	-0.54%
VRT	B	-0.55%
DUOL	B	-0.58%
CEG	A	-0.59%
VST	A	-0.63%

BTAL Underweight 47 Positions Relative to CBLS

Symbol	Grade	Weight
STRL	B	-3.36%
SKY	C	-2.86%
CHK	C	-2.69%
SCI	D	-2.68%
BLBD	D	-2.64%
WTTR	B	-2.63%
IBN	C	-2.6%
OSW	B	-2.6%
BABA	A	-2.59%
ERJ	C	-2.59%
ETR	A	-2.53%
MMYT	B	-2.52%
BOWL	D	-2.49%
ICFI	C	-2.49%
NEE	C	-2.46%
TMDX	D	-2.43%
ASML	F	-2.42%
MGNI	D	-2.41%
ROL	C	-2.4%
SO	A	-2.38%
AER	C	-2.33%
NU	D	-2.24%
WMT	A	-2.24%
ECL	C	-2.21%
COST	C	-2.18%
AMZN	C	-2.16%
HUMA	F	-1.97%
ORCL	A	-1.94%
TDG	A	-1.54%
KLAC	B	-1.29%
VSAT	F	--0.84%
TTC	F	--0.94%
TASK	F	--0.97%
VRNT	F	--1.0%
ROK	D	--1.01%
ENR	B	--1.01%
KMT	C	--1.08%
CTVA	A	--1.1%
BC	C	--1.14%
FIVN	F	--1.15%
MIDD	D	--1.16%
DOOO	F	--1.29%
DFS	A	--1.29%
HOG	D	--1.35%
R	C	--1.63%
GIII	C	--1.63%
DE	C	--1.69%