CAOS vs. BDGS ETF Comparison

Comparison of Alpha Architect Tail Risk ETF (CAOS) to Bridges Capital Tactical ETF (BDGS)

CAOS

Alpha Architect Tail Risk ETF

CAOS Description

CAOS seeks to actively earn positive returns during periods of significant US equity drawdowns while minimizing the return drag of collateral. The fund allocates up to 20% of portfolio assets in long and/or short SPX Index options, depending on market status. Between 1%-10% of the portfolio is allocated to protective options positioned to appreciate in value when the index declines by more than 25%, which is considered to be a tail risk event. If a tail risk event does not occur, the cost of the protective positions will reduce returns. The remaining 70%-80% of the funds portfolio is collateral consisting of US T-bills, box spreads, and money market instruments. Up to 100% of the collateral may be placed with the Alpha Architect 1-3 Month Box ETF (ticker: BOXX). An ETF that uses box spreads to provide the exposure of 1-3 month treasury bills. The strategy involves frequent trading which increases costs and turnover rate, both having negative impacts on the fund. CAOS operated as a mutual fund until its conversion into an ETF, starting with $126 million in net assets.

Grade (RS Rating)

Last Trade

$87.13

Average Daily Volume

18,347

Number of Holdings ^*

* may have additional holdings in another (foreign) market

BDGS

Bridges Capital Tactical ETF

BDGS Description

The fund is an actively managed, diversified exchange-traded fund ("ETF") that seeks to achieve its investment objective by investing in a blend of passively managed U.S. equity index ETFs, large-capitalization equity securities and cash or cash equivalents. It is expected that the fund will generally hold 5 to 20 investments selected from a universe that includes large-capitalization U.S. equity securities and passively managed index ETFs tracking U.S. small-, mid- and large-capitalization equity indexes (the "Indexes").

Grade (RS Rating)

Last Trade

$31.77

Average Daily Volume

3,991

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CAOS	BDGS
30 Days	0.16%	3.63%
60 Days	0.81%	4.27%
90 Days	1.59%	5.12%
12 Months	5.19%	18.93%

1 Overlapping Holdings

	Symbol	Grade	Weight in CAOS	Weight in BDGS	Overlap
	BOXX	A	10.3%	22.92%	10.3%

CAOS Overweight 0 Positions Relative to BDGS

	Symbol	Grade	Weight

CAOS Underweight 13 Positions Relative to BDGS

Symbol	Grade	Weight
QQQ	B	-10.12%
IWB	A	-10.1%
TSLA	B	-2.52%
AMZN	C	-2.19%
CVX	A	-2.12%
GOOG	C	-2.08%
COST	B	-2.02%
META	D	-1.99%
AVGO	D	-1.98%
MSFT	F	-1.98%
AAPL	C	-1.95%
PEP	F	-1.91%
NVDA	C	-1.03%

CAOS: Top Represented Industries & Keywords

Industries:

Keywords: Exchange Traded Funds SPDR