CBLS vs. LBAY ETF Comparison

Comparison of Changebridge Capital Long/Short Equity ETF (CBLS) to Leatherback Long/Short Alternative Yield ETF (LBAY)

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

$26.64

Average Daily Volume

1,942

Number of Holdings ^*

* may have additional holdings in another (foreign) market

LBAY

Leatherback Long/Short Alternative Yield ETF

LBAY Description

The investment seeks capital appreciation and income. The fund is an actively-managed ETF that seeks to achieve its investment objective by purchasing long positions in securities believed to provide sustainable shareholder yield (defined as dividends plus buybacks plus debt paydowns) and taking short positions in securities expected to decline in price. It will generally have net exposure of 75% - 110% long. The fund's long positions are generally expected to be comprised of equity securities or depositary receipts, although long positions may also include investment-grade corporate bonds and convertible bonds. It is non-diversified.

Grade (RS Rating)

Last Trade

$26.27

Average Daily Volume

2,522

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CBLS	LBAY
30 Days	3.33%	-4.84%
60 Days	4.83%	-4.25%
90 Days	4.52%	-2.88%
12 Months	35.33%	4.39%

3 Overlapping Holdings

Symbol	Grade	Weight in CBLS	Weight in LBAY	Overlap
DE	C	-1.45%	2.68%	-1.45%
LLY	F	-1.37%	-1.48%	-1.48%
TSLA	B	-2.63%	-1.45%	-2.63%

CBLS Overweight 60 Positions Relative to LBAY

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	B	2.76%
WMT	A	2.75%
SKY	A	2.73%
BWXT	B	2.7%
COST	A	2.64%
ORCL	A	2.62%
STRL	B	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	B	2.12%
HUMA	F	2.11%
SCHW	A	2.08%
MC	B	1.98%
ETR	A	1.93%
SCI	B	1.92%
DELL	C	1.91%
TDG	D	1.78%
CRSP	D	0.86%
KLG	D	-0.49%
KDP	D	-0.5%
POST	C	-0.5%
GIS	D	-0.51%
PEP	F	-0.51%
DOOO	F	-0.9%
TTC	F	-0.93%
R	B	-0.95%
GIII	F	-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	A	-1.19%
AME	A	-1.2%
NVO	D	-1.3%
F	C	-1.41%
HELE	C	-1.71%
HSY	F	-1.75%
VSAT	F	-1.75%
GOGO	C	-1.77%
NOW	B	-1.8%

CBLS Underweight 49 Positions Relative to LBAY

Symbol	Grade	Weight
LW	C	-4.96%
XOM	A	-4.78%
ORI	A	-4.77%
MO	A	-4.64%
NEM	D	-4.59%
BG	D	-4.57%
CMCSA	B	-4.57%
FIS	C	-4.54%
VTRS	A	-4.48%
ZBH	C	-4.41%
AGNC	C	-4.41%
CVS	D	-4.36%
BERY	C	-4.14%
ICE	D	-4.08%
MTN	C	-3.91%
V	A	-3.89%
MDT	D	-3.86%
UNP	D	-3.77%
T	A	-3.64%
LHX	B	-3.59%
EBAY	D	-3.58%
MMM	D	-3.53%
AWK	C	-3.45%
BKNG	A	-3.37%
RIO	D	-3.28%
MSCI	C	-3.15%
APD	A	-3.11%
SPGI	D	-2.92%
PCH	D	-2.79%
SHAK	C	--1.21%
DKS	D	--1.21%
BURL	B	--1.26%
SITE	F	--1.27%
RBLX	B	--1.29%
EQIX	A	--1.38%
EVR	B	--1.46%
SF	B	--1.48%
DKNG	B	--1.49%
DLR	A	--1.51%
CVNA	B	--1.53%
AAPL	C	--1.53%
DAL	A	--1.53%
TOL	B	--1.54%
PLNT	A	--1.54%
AVGO	D	--1.54%
SQ	A	--1.56%
VRT	A	--1.63%
OLLI	D	--1.69%
DUOL	A	--1.85%