CBLS vs. COWS ETF Comparison

Comparison of Changebridge Capital Long/Short Equity ETF (CBLS) to Amplify Cash Flow Dividend Leaders ETF (COWS)

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

$26.68

Average Daily Volume

1,925

Number of Holdings ^*

* may have additional holdings in another (foreign) market

COWS

Amplify Cash Flow Dividend Leaders ETF

COWS Description

COWS is an index tracking fund utilizing a replication strategy. The index strategy aims to invest in US stocks of companies perceived to be stable and pay dividends. The starting investment universe considers the 1000 most liquid US-listed companies, excluding the financial sector. Filtering this universe, the 100 highest ranked free cash flow yielding stocks, as measured by equally weighting the stocks average trailing and forward cash flow yield. Companies with no forward estimates for free cash flow yields or earnings are removed. The investment universe is then filtered to identify dividend paying stocks with three years of uninterrupted dividend growth. Stocks with a payout ratio greater than 75% are eliminated. The top 10% of dividend yielding stocks are selected for the index. This process results in 40-100 stocks being selected and initially equally weighted in the index. Industry exposure is capped at 24%. Index holdings are reconstituted and rebalanced on a quarterly basis.

Grade (RS Rating)

Last Trade

$30.37

Average Daily Volume

6,645

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CBLS	COWS
30 Days	3.75%	0.75%
60 Days	5.01%	4.05%
90 Days	4.70%	5.26%
12 Months	35.57%	23.84%

1 Overlapping Holdings

	Symbol	Grade	Weight in CBLS	Weight in COWS	Overlap
	VST	A	2.23%	4.0%	2.23%

CBLS Overweight 62 Positions Relative to COWS

Symbol	Grade	Weight
NVDA	A	3.31%
LNG	A	3.31%
WTTR	A	3.07%
INTC	C	2.91%
AMZN	B	2.83%
GTLS	A	2.81%
MGNI	A	2.76%
WMT	A	2.75%
SKY	A	2.73%
BWXT	A	2.7%
COST	A	2.64%
ORCL	A	2.62%
STRL	A	2.54%
CCL	A	2.49%
RDDT	A	2.45%
OSW	B	2.43%
IBN	D	2.38%
ECL	D	2.32%
GD	D	2.32%
NARI	C	2.3%
RTX	D	2.29%
ROL	B	2.28%
D	C	2.24%
AER	B	2.24%
SO	C	2.23%
NEE	C	2.12%
ERJ	A	2.12%
HUMA	F	2.11%
SCHW	A	2.08%
MC	B	1.98%
ETR	A	1.93%
SCI	A	1.92%
DELL	B	1.91%
TDG	D	1.78%
CRSP	D	0.86%
KLG	D	-0.49%
KDP	D	-0.5%
POST	C	-0.5%
GIS	F	-0.51%
PEP	F	-0.51%
DOOO	F	-0.9%
TTC	F	-0.93%
R	B	-0.95%
GIII	D	-0.97%
PFE	F	-1.06%
SIG	C	-1.07%
JNJ	D	-1.1%
MRNA	F	-1.15%
MIDD	D	-1.16%
ROK	B	-1.17%
ENR	B	-1.19%
AME	A	-1.2%
NVO	F	-1.3%
LLY	F	-1.37%
F	C	-1.41%
DE	C	-1.45%
HELE	C	-1.71%
HSY	F	-1.75%
VSAT	F	-1.75%
GOGO	C	-1.77%
NOW	B	-1.8%
TSLA	A	-2.63%

CBLS Underweight 52 Positions Relative to COWS

Symbol	Grade	Weight
SNA	B	-2.95%
OC	A	-2.76%
G	B	-2.68%
CMCSA	B	-2.56%
MRO	A	-2.49%
CF	A	-2.48%
SLB	C	-2.48%
HAL	C	-2.43%
BC	D	-2.42%
FNF	A	-2.35%
FDX	B	-2.31%
EBAY	D	-2.3%
TPR	B	-2.21%
WSM	D	-2.17%
TKR	F	-2.13%
BMY	A	-2.07%
ALSN	B	-2.03%
PARA	D	-2.02%
SM	C	-2.02%
PVH	C	-1.95%
PTEN	C	-1.93%
VLO	C	-1.89%
NXST	C	-1.86%
SWKS	F	-1.84%
BEN	C	-1.8%
BBWI	C	-1.75%
NOV	D	-1.74%
PR	B	-1.74%
MGY	A	-1.73%
MUR	F	-1.72%
MTDR	C	-1.67%
GAP	D	-1.67%
ASO	F	-1.63%
T	A	-1.6%
MCK	A	-1.48%
DVN	F	-1.48%
VNT	C	-1.46%
OLN	F	-1.45%
TMUS	B	-1.43%
DNB	B	-1.43%
AYI	B	-1.4%
BWA	D	-1.37%
CSCO	B	-1.34%
AEO	F	-1.33%
LEA	F	-1.33%
RL	C	-1.29%
OGN	F	-1.29%
OSK	C	-1.27%
INGR	B	-1.25%
IPG	F	-1.23%
SAIC	F	-1.19%
ENS	D	-1.12%