CBLS vs. JPST ETF Comparison

Comparison of Changebridge Capital Long/Short Equity ETF (CBLS) to JPMorgan Ultra-Short Income ETF (JPST)

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

$24.54

Average Daily Volume

8,715

Number of Holdings ^*

* may have additional holdings in another (foreign) market

JPST

JPMorgan Ultra-Short Income ETF

JPST Description

The investment seeks to provide total return. Under normal circumstances, the fund will invest at least 80% of its assets in bonds. It will invest at least 40% of its assets in countries other than the United States. The fund may invest in developed or emerging markets. It generally invests at least 25% of its assets in securities that, at the time of purchase are rated investment grade or the unrated equivalent. "Assets" means net assets plus the amount of borrowings for investment purposes. The fund may also use currency related transactions involving currency derivatives as part of its primary investment strategy.

Grade (RS Rating)

Last Trade

$50.54

Average Daily Volume

3,903,955

Number of Holdings ^*

111

* may have additional holdings in another (foreign) market

Performance

Period	CBLS	JPST
30 Days	-0.14%	0.60%
60 Days	-5.42%	1.29%
90 Days	-3.61%	1.37%
12 Months	25.96%	4.14%

9 Overlapping Holdings

Symbol	Grade	Weight in CBLS	Weight in JPST	Overlap
AER	C	2.14%	0.02%	0.02%
D	A	2.07%	0.17%	0.17%
DE	B	-1.62%	0.01%	-1.62%
ETR	A	2.05%	0.16%	0.16%
IBM	A	-1.16%	0.01%	-1.16%
NEE	A	2.1%	0.03%	0.03%
NEM	B	2.11%	0.08%	0.08%
SO	A	2.05%	0.11%	0.11%
UNH	A	2.02%	0.01%	0.01%

CBLS Overweight 55 Positions Relative to JPST

Symbol	Grade	Weight
ASML	F	3.51%
LNG	B	3.04%
SKY	B	2.93%
LULU	F	2.83%
NVDA	D	2.81%
STRL	C	2.77%
SCI	B	2.7%
TMDX	C	2.67%
ERJ	A	2.65%
CHK	F	2.59%
TDG	B	2.51%
DELL	F	2.5%
RTX	B	2.5%
IBN	C	2.46%
ROL	B	2.39%
WTTR	C	2.39%
MGNI	D	2.33%
NU	B	2.29%
ECL	B	2.22%
GD	B	2.14%
AVGO	D	2.11%
KLAC	D	2.08%
NFE	F	2.06%
AMZN	D	2.02%
OSW	D	2.01%
ICFI	B	1.99%
MSFT	D	1.98%
RIG	F	1.97%
BOWL	D	1.94%
HUMA	D	1.94%
CRWD	F	1.75%
BLBD	D	1.49%
DECK	C	-0.83%
SGBX	F	-0.97%
TTC	D	-1.02%
TASK	F	-1.03%
DFS	C	-1.06%
ROK	D	-1.08%
CHH	C	-1.1%
ENR	B	-1.11%
KMT	D	-1.11%
PAYX	B	-1.12%
CTVA	B	-1.12%
BC	D	-1.13%
MIDD	D	-1.17%
LAD	C	-1.26%
GIII	A	-1.28%
HOG	B	-1.34%
MPW	C	-1.44%
BGFV	F	-1.56%
DOOO	D	-1.6%
VSAT	D	-1.63%
SOFI	D	-1.7%
AFRM	B	-1.91%
TSLA	D	-2.04%

CBLS Underweight 102 Positions Relative to JPST

Symbol	Grade	Weight
CASH	A	-2.2%
TMO	A	-0.74%
AZN	B	-0.57%
EQH	C	-0.35%
KDP	A	-0.31%
CCEP	A	-0.3%
ATO	A	-0.3%
MCD	A	-0.29%
LDOS	B	-0.26%
BXMT	C	-0.25%
SNX	D	-0.23%
TDY	B	-0.22%
HART	B	-0.19%
BA	F	-0.18%
OGS	B	-0.17%
VZ	B	-0.16%
T	A	-0.14%
CNP	D	-0.14%
GILD	A	-0.13%
DB	B	-0.13%
CAG	A	-0.13%
AAPL	C	-0.12%
WFC	D	-0.11%
VTRS	C	-0.1%
GM	B	-0.1%
FITB	B	-0.1%
HUM	D	-0.09%
WEC	A	-0.09%
MLM	D	-0.09%
JBHT	C	-0.09%
IFF	A	-0.08%
STT	B	-0.08%
DT	A	-0.08%
CI	B	-0.08%
DUK	A	-0.08%
KR	C	-0.07%
CFG	B	-0.07%
BX	B	-0.07%
HSBC	B	-0.07%
SBUX	B	-0.06%
BG	D	-0.06%
ACR	B	-0.06%
SEB	C	-0.06%
XOM	C	-0.06%
AEP	A	-0.05%
MS	C	-0.05%
AL	D	-0.05%
BHF	D	-0.04%
ORCL	A	-0.04%
KKR	B	-0.04%
MDLZ	A	-0.04%
ABBV	B	-0.04%
COF	C	-0.04%
PL	D	-0.04%
ARES	C	-0.03%
CHD	A	-0.03%
R	C	-0.03%
ROP	C	-0.03%
BCC	C	-0.03%
BMO	D	-0.03%
HON	D	-0.02%
WLK	D	-0.02%
MSC	F	-0.02%
ETN	D	-0.02%
AZO	B	-0.02%
GSK	A	-0.02%
DIS	F	-0.02%
BNS	A	-0.02%
EPD	C	-0.01%
ABT	A	-0.01%
PFE	D	-0.01%
ICE	A	-0.01%
MCO	B	-0.01%
DHR	B	-0.01%
CSL	C	-0.01%
BMY	B	-0.01%
PSX	D	-0.01%
SCHW	D	-0.01%
PNC	B	-0.01%
BK	B	-0.01%
MMM	B	-0.01%
AXP	B	-0.01%
CAT	C	-0.01%
PM	A	-0.01%
HBAN	B	-0.01%
ES	A	-0.01%
JXN	C	-0.01%
MET	B	-0.01%
UBS	D	-0.01%
BAC	D	-0.01%
RY	A	-0.01%
TFC	B	-0.01%
KEY	B	-0.01%
MUFG	D	-0.01%
GS	C	-0.01%
NWG	C	-0.01%
TD	A	-0.01%
PFG	D	-0.01%
CM	A	-0.01%
USB	B	-0.01%
C	D	-0.01%
AIG	D	-0.01%