BTAL vs. DFND ETF Comparison

Comparison of QuantShares U.S. Market Neutral Anti Beta Fund ETF (BTAL) to Realty Shares DIVCON Dividend Defender ETF (DFND)

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

$19.40

Average Daily Volume

549,360

Number of Holdings ^*

391

* may have additional holdings in another (foreign) market

DFND

Realty Shares DIVCON Dividend Defender ETF

DFND Description

The investment seeks long-term capital appreciation by tracking the performance, before fees and expenses, of the Reality Shares DIVCON Dividend Defender Index. The index is designed to select the companies for a long position that have the highest probability of increasing their dividend in a 12-month period and select the companies for a short position that have the highest probability of decreasing their dividend in a 12-month period. Under normal circumstances, at least 80% of the fund's assets (other than collateral held from securities lending, if any) will be invested in component securities of the benchmark index. It is non-diversified.

Grade (RS Rating)

Last Trade

$43.72

Average Daily Volume

770

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	BTAL	DFND
30 Days	-1.58%	12.15%
60 Days	-4.84%	3.34%
90 Days	-4.37%	15.55%
12 Months	-5.30%	15.99%

27 Overlapping Holdings

Symbol	Grade	Weight in BTAL	Weight in DFND	Overlap
ACN	B	0.45%	0.33%	0.33%
ALB	C	-0.51%	0.98%	-0.51%
AON	B	0.48%	1.53%	0.48%
AVGO	C	-0.47%	0.91%	-0.47%
BRO	B	0.48%	2.17%	0.48%
CB	C	0.44%	1.35%	0.44%
CBOE	D	0.41%	1.24%	0.41%
CME	B	0.47%	1.24%	0.47%
CSCO	A	0.5%	1.49%	0.5%
D	D	-0.45%	-3.01%	-3.01%
DVN	F	0.37%	-1.1%	-1.1%
ETN	B	-0.53%	1.75%	-0.53%
F	C	-0.44%	-2.36%	-2.36%
FCX	F	-0.42%	-1.98%	-1.98%
HON	B	0.48%	1.37%	0.48%
INTC	C	-0.53%	-1.12%	-1.12%
J	D	0.43%	1.46%	0.43%
LMT	D	0.41%	2.13%	0.41%
MCD	C	0.43%	2.19%	0.43%
MMC	D	0.42%	1.22%	0.42%
MPWR	F	-0.27%	1.72%	-0.27%
MSFT	C	0.44%	0.98%	0.44%
MSI	B	0.51%	1.89%	0.51%
SHW	A	-0.48%	2.22%	-0.48%
SNA	A	0.56%	2.64%	0.56%
T	A	0.49%	-2.18%	-2.18%
VFC	C	0.49%	-1.12%	-1.12%

BTAL Overweight 364 Positions Relative to DFND

Symbol	Grade	Weight
MSTR	B	1.11%
BILL	B	0.72%
PAYC	B	0.62%
SFM	B	0.62%
IBKR	A	0.61%
LPLA	A	0.59%
ZI	C	0.58%
CFLT	B	0.57%
HQY	B	0.57%
PCTY	B	0.57%
TGNA	B	0.56%
UNM	A	0.56%
ALSN	B	0.56%
FTNT	B	0.56%
KMI	B	0.55%
WH	A	0.55%
NWL	B	0.55%
BWXT	B	0.54%
GILD	B	0.53%
CACI	C	0.53%
FFIV	B	0.53%
BMY	B	0.53%
PCAR	B	0.53%
BKR	B	0.53%
CW	C	0.52%
RLI	A	0.51%
TRV	B	0.51%
TXRH	A	0.51%
SAIC	D	0.51%
THG	A	0.51%
LNG	B	0.51%
MCK	B	0.51%
G	B	0.51%
ORLY	A	0.51%
MKL	A	0.51%
PKG	B	0.5%
UTHR	B	0.5%
LULU	B	0.5%
SBRA	C	0.5%
TDY	B	0.5%
SIGI	B	0.49%
AEE	B	0.49%
KR	A	0.49%
XEL	A	0.49%
GLW	B	0.49%
PAYX	B	0.49%
WELL	B	0.49%
CHH	B	0.49%
DBX	B	0.49%
TMUS	A	0.49%
FOXA	A	0.49%
JAZZ	B	0.48%
VTRS	B	0.48%
ADP	A	0.48%
RYAN	B	0.48%
PNM	B	0.48%
CINF	A	0.48%
DRI	B	0.47%
ROP	A	0.47%
WEN	C	0.47%
AXS	A	0.47%
CDP	C	0.47%
DOX	C	0.47%
ALL	B	0.47%
MSM	C	0.47%
RGA	A	0.47%
WEC	B	0.46%
X	D	0.46%
EDR	B	0.46%
CTSH	A	0.46%
CCK	D	0.46%
NEU	C	0.46%
CHD	A	0.46%
IBM	D	0.46%
CLH	B	0.46%
WTW	A	0.46%
ARMK	B	0.46%
ORI	A	0.46%
AIZ	A	0.46%
PGR	A	0.46%
SLGN	B	0.46%
CMG	B	0.46%
COR	B	0.46%
HEI	A	0.46%
CSX	B	0.46%
RNR	D	0.46%
WM	A	0.46%
L	A	0.45%
LNT	C	0.45%
RTX	D	0.45%
REG	A	0.45%
HPQ	B	0.45%
OHI	C	0.45%
ADC	A	0.45%
BWA	B	0.45%
KBR	D	0.45%
HIG	C	0.45%
CHRW	A	0.45%
PNW	A	0.45%
DGX	B	0.45%
GD	C	0.45%
AVB	B	0.45%
XOM	B	0.44%
CMS	D	0.44%
VRSN	C	0.44%
MUSA	B	0.44%
RSG	B	0.44%
NOC	D	0.44%
COLM	B	0.44%
ELS	B	0.44%
DECK	B	0.44%
ASGN	D	0.44%
DLB	D	0.44%
WRB	B	0.44%
CF	B	0.44%
UNH	B	0.44%
JNPR	D	0.43%
DUK	D	0.43%
EQR	C	0.43%
YUM	B	0.43%
TJX	A	0.43%
DD	D	0.43%
PAG	B	0.42%
SNX	C	0.42%
GLPI	D	0.42%
MSA	D	0.42%
EG	D	0.42%
OLLI	C	0.42%
MKC	D	0.42%
CXT	F	0.42%
ED	D	0.42%
CI	D	0.42%
VZ	D	0.42%
TXT	D	0.42%
AVT	C	0.42%
TNET	C	0.41%
VICI	D	0.41%
CHE	D	0.41%
JNJ	D	0.41%
FLO	F	0.41%
O	D	0.4%
MOH	F	0.4%
FCN	F	0.4%
ACGL	C	0.4%
ON	F	0.4%
WPC	F	0.4%
AMGN	F	0.4%
HRB	D	0.4%
MOS	D	0.39%
KHC	F	0.39%
ERIE	F	0.39%
FANG	C	0.39%
GIS	F	0.39%
PFE	F	0.39%
WTM	A	0.39%
AMCR	D	0.39%
KO	F	0.38%
OXY	F	0.38%
BG	D	0.38%
AKAM	F	0.38%
CPB	F	0.38%
FOXF	F	0.37%
MUR	D	0.37%
GPC	D	0.37%
FMC	F	0.37%
ABBV	F	0.37%
ARW	F	0.37%
ST	F	0.37%
MAN	F	0.37%
MTCH	F	0.36%
HUM	D	0.35%
SRPT	F	0.35%
NEM	F	0.34%
ELV	F	0.34%
AZO	B	0.33%
CNC	F	0.32%
MDU	D	0.31%
BMRN	F	0.31%
AGL	F	0.19%
SMCI	F	-0.18%
SEDG	F	-0.21%
RUN	F	-0.21%
ENPH	F	-0.22%
MRNA	F	-0.24%
CE	F	-0.25%
CNXC	F	-0.25%
TXG	F	-0.3%
WOLF	F	-0.3%
EL	F	-0.3%
CELH	F	-0.3%
RIVN	F	-0.32%
NTLA	F	-0.32%
OPEN	F	-0.33%
COTY	D	-0.34%
BRZE	C	-0.34%
AES	F	-0.34%
RKT	F	-0.34%
AMKR	F	-0.35%
TER	F	-0.35%
TFX	F	-0.36%
DKS	D	-0.37%
CNM	D	-0.37%
WMS	F	-0.37%
PLD	D	-0.38%
DINO	D	-0.38%
RIG	C	-0.38%
ELF	C	-0.38%
ALLY	C	-0.38%
LRCX	F	-0.39%
EFX	F	-0.39%
SHLS	D	-0.4%
FND	F	-0.4%
W	F	-0.4%
IDXX	F	-0.4%
KMX	B	-0.4%
ARWR	C	-0.4%
ARE	F	-0.41%
AWK	D	-0.41%
KSS	D	-0.41%
BLD	F	-0.41%
CWEN	D	-0.41%
ALGN	D	-0.41%
ELAN	C	-0.41%
AGNC	C	-0.41%
MKSI	C	-0.42%
WBA	D	-0.42%
AMD	F	-0.42%
EW	F	-0.42%
NVCR	D	-0.43%
TGT	C	-0.43%
CHX	C	-0.43%
RYN	F	-0.43%
ROIV	D	-0.43%
POWI	D	-0.43%
CSGP	F	-0.43%
PINS	F	-0.43%
UGI	D	-0.43%
MGM	D	-0.43%
FBIN	F	-0.43%
BLDR	C	-0.44%
BBWI	C	-0.44%
MTDR	B	-0.44%
SSD	F	-0.44%
CC	C	-0.44%
UBER	F	-0.44%
APG	C	-0.45%
DAR	B	-0.45%
OC	A	-0.45%
SEE	C	-0.45%
NWE	C	-0.45%
THO	B	-0.45%
RGEN	C	-0.45%
MU	D	-0.46%
CRSP	D	-0.46%
CARR	C	-0.46%
RMD	C	-0.46%
CZR	F	-0.46%
SMG	D	-0.46%
PATH	C	-0.46%
TOL	B	-0.47%
CRL	C	-0.47%
JLL	C	-0.47%
TRU	D	-0.47%
LAMR	D	-0.47%
BXP	D	-0.47%
CFG	B	-0.48%
ROKU	C	-0.48%
KRC	C	-0.48%
TROW	A	-0.48%
ZS	B	-0.48%
OZK	B	-0.49%
LNC	B	-0.49%
PENN	B	-0.49%
AXTA	A	-0.49%
ITT	A	-0.49%
ANET	C	-0.49%
NTRA	B	-0.49%
NET	B	-0.49%
NRG	C	-0.49%
ILMN	C	-0.49%
USB	B	-0.49%
HHH	B	-0.49%
TREX	C	-0.49%
RRC	B	-0.5%
NVT	C	-0.5%
CAR	C	-0.5%
GH	B	-0.5%
RF	A	-0.5%
VEEV	B	-0.51%
LPX	A	-0.51%
PEN	C	-0.51%
CBRE	B	-0.51%
TT	B	-0.51%
WAL	B	-0.51%
PWR	B	-0.51%
PFGC	B	-0.51%
NVDA	A	-0.51%
USFD	B	-0.51%
SNAP	C	-0.52%
CEG	D	-0.52%
DKNG	B	-0.52%
FYBR	D	-0.52%
AR	B	-0.52%
FOUR	B	-0.53%
GNRC	B	-0.53%
NTRS	A	-0.53%
JHG	A	-0.53%
PYPL	A	-0.53%
DNLI	C	-0.53%
AA	C	-0.53%
MDB	C	-0.54%
SCHW	B	-0.54%
RBLX	B	-0.54%
URI	B	-0.54%
RMBS	C	-0.54%
ZION	B	-0.54%
DELL	C	-0.54%
KKR	B	-0.55%
RH	C	-0.55%
VNO	C	-0.55%
CMA	A	-0.55%
WCC	B	-0.55%
IOT	B	-0.55%
EXP	B	-0.55%
EXPE	B	-0.56%
XPO	B	-0.56%
PNFP	B	-0.56%
BX	A	-0.56%
TTD	B	-0.56%
OWL	B	-0.57%
COHR	C	-0.57%
GME	C	-0.57%
Z	B	-0.57%
CRWD	B	-0.57%
CG	B	-0.57%
SNV	B	-0.57%
SQ	B	-0.58%
EQT	B	-0.59%
TPG	B	-0.59%
MRVL	B	-0.59%
LYV	A	-0.6%
DASH	A	-0.6%
GTLS	B	-0.6%
TDOC	C	-0.6%
DAY	B	-0.6%
SAIA	B	-0.62%
CCL	B	-0.63%
PODD	B	-0.63%
DUOL	A	-0.65%
LITE	B	-0.66%
TSLA	B	-0.68%
HOOD	B	-0.68%
VRT	B	-0.68%
LYFT	B	-0.69%
COIN	B	-0.69%
CVNA	B	-0.69%
DAL	A	-0.69%
TOST	A	-0.7%
AXON	B	-0.74%
VST	B	-0.74%
PTON	C	-0.76%
SOFI	B	-0.78%
AFRM	B	-0.78%
PLTR	B	-0.85%

BTAL Underweight 43 Positions Relative to DFND

Symbol	Grade	Weight
CTAS	B	-2.68%
V	A	-2.65%
KLAC	F	-2.56%
VRSK	A	-2.41%
GWW	B	-2.28%
PG	C	-2.26%
NDSN	B	-2.24%
FDS	A	-2.12%
MPC	D	-2.03%
CMI	A	-2.03%
PHM	D	-2.03%
MCO	C	-1.81%
PPG	F	-1.78%
MA	B	-1.75%
ITW	B	-1.7%
AMAT	F	-1.63%
ROK	B	-1.55%
ALLE	D	-1.53%
DHI	D	-1.5%
ADI	D	-1.44%
HSY	F	-1.33%
HUBB	C	-1.33%
MSCI	B	-1.29%
LIN	D	-1.21%
COST	B	-1.21%
CMCSA	B	-1.15%
FAST	B	-1.14%
LW	B	-1.13%
AOS	F	-1.11%
AAPL	C	-0.94%
GL	B	-0.93%
ODFL	B	-0.89%
MLM	B	-0.84%
INTU	A	-0.76%
BR	A	-0.73%
MCHP	F	-0.09%
PARA	B	--0.32%
APA	F	--0.79%
NWS	B	--1.97%
LUV	B	--1.99%
SW	B	--2.22%
IP	B	--2.32%
CNP	B	--2.57%