CBLS vs. LABU ETF Comparison

Comparison of Changebridge Capital Long/Short Equity ETF (CBLS) to Direxion Daily S&P Biotech Bull 3X Shares (LABU)

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

LABU

Direxion Daily S&P Biotech Bull 3X Shares

LABU Description

The investment seeks daily investment results, of 300% of the performance of the S&P Biotechnology Select Industry Index ("index"). The index is provided by S&P and includes domestic companies from the biotechnology industry. The fund normally creates long positions by investing at least 80% of its assets in the securities that comprise the index and/or financial instruments that provide leveraged and unleveraged exposure to the index. These financial instruments include: swap agreements; options on securities and indices; forward contracts; reverse repurchase agreements; ETFs; and other financial instruments. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$103.39

Average Daily Volume

1,049,930

Number of Holdings ^*

128

* may have additional holdings in another (foreign) market

Performance

Period	CBLS	LABU
30 Days	3.75%	-21.14%
60 Days	5.01%	-26.28%
90 Days	4.70%	-28.06%
12 Months	35.57%	44.67%

3 Overlapping Holdings

Symbol	Grade	Weight in CBLS	Weight in LABU	Overlap
CRSP	D	0.86%	1.0%	0.86%
HUMA	F	2.11%	0.12%	0.12%
MRNA	F	-1.15%	0.98%	-1.15%

CBLS Overweight 60 Positions Relative to LABU

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%
VST	A	2.23%
SO	C	2.23%
NEE	C	2.12%
ERJ	A	2.12%
SCHW	A	2.08%
MC	B	1.98%
ETR	A	1.93%
SCI	A	1.92%
DELL	B	1.91%
TDG	D	1.78%
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%
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 125 Positions Relative to LABU

Symbol	Grade	Weight
INCY	C	-2.06%
NTRA	A	-2.02%
UTHR	C	-1.92%
GILD	C	-1.88%
NBIX	C	-1.7%
VRTX	D	-1.68%
ALNY	D	-1.64%
INSM	C	-1.61%
AMGN	D	-1.5%
SRPT	F	-1.48%
ABBV	F	-1.47%
BIIB	F	-1.42%
MDGL	C	-1.35%
VKTX	F	-1.35%
EXAS	D	-1.31%
BMRN	F	-1.3%
CYTK	D	-1.17%
REGN	F	-1.14%
BPMC	C	-1.12%
TGTX	B	-1.05%
HALO	F	-1.0%
RNA	C	-0.99%
RVMD	B	-0.96%
KRYS	C	-0.81%
ADMA	C	-0.79%
EXEL	B	-0.77%
ROIV	D	-0.76%
IONS	F	-0.74%
ALKS	C	-0.72%
PCVX	D	-0.6%
CRNX	C	-0.58%
BBIO	F	-0.58%
APLS	F	-0.57%
IOVA	F	-0.56%
TWST	F	-0.54%
GERN	F	-0.53%
ACLX	C	-0.53%
DYN	F	-0.5%
SWTX	C	-0.5%
BEAM	C	-0.49%
AGIO	C	-0.49%
ACAD	C	-0.48%
RXRX	D	-0.47%
RARE	F	-0.47%
IMVT	F	-0.43%
PTCT	C	-0.43%
FOLD	F	-0.41%
VERA	C	-0.39%
MIRM	C	-0.39%
ARWR	D	-0.38%
RYTM	C	-0.38%
NUVL	D	-0.38%
NTLA	F	-0.38%
PTGX	D	-0.37%
IDYA	F	-0.37%
DVAX	C	-0.35%
DNLI	C	-0.33%
VCYT	B	-0.33%
JANX	C	-0.33%
SRRK	B	-0.32%
KYMR	C	-0.3%
SNDX	F	-0.29%
BCRX	D	-0.28%
CGON	F	-0.28%
ARDX	F	-0.28%
VCEL	A	-0.28%
AKRO	C	-0.27%
NVAX	F	-0.27%
ARQT	C	-0.27%
CPRX	C	-0.26%
KROS	D	-0.25%
NRIX	C	-0.25%
CLDX	F	-0.23%
MNKD	B	-0.22%
IRON	C	-0.22%
SMMT	D	-0.21%
VRDN	D	-0.2%
RCKT	F	-0.19%
DAWN	D	-0.19%
TVTX	C	-0.17%
MYGN	F	-0.17%
CGEM	F	-0.17%
IRWD	F	-0.16%
CDNA	D	-0.15%
VIR	F	-0.15%
XNCR	B	-0.15%
KURA	F	-0.15%
CDMO	A	-0.14%
APLT	C	-0.14%
ALT	C	-0.13%
RCUS	F	-0.13%
EBS	C	-0.13%
ARCT	F	-0.12%
COGT	D	-0.11%
ETNB	D	-0.11%
ANNX	F	-0.11%
AVXL	C	-0.11%
VERV	D	-0.11%
SPRY	C	-0.11%
STOK	D	-0.11%
REPL	C	-0.11%
IMNM	F	-0.1%
PRTA	F	-0.1%
RLAY	F	-0.1%
MDXG	A	-0.1%
RGNX	D	-0.09%
OLMA	F	-0.09%
ALLO	F	-0.08%
ANAB	F	-0.08%
OCGN	F	-0.08%
CELC	F	-0.08%
SAGE	F	-0.08%
SANA	F	-0.08%
ERAS	C	-0.07%
CCCC	F	-0.07%
FDMT	F	-0.07%
ORIC	F	-0.06%
SCLX	F	-0.05%
SVRA	F	-0.05%
ALEC	F	-0.04%
YMAB	F	-0.04%
ABUS	D	-0.04%
ITOS	F	-0.04%
KALV	F	-0.04%
FATE	F	-0.04%