CBSE vs. EQLT ETF Comparison

Comparison of Changebridge Capital Sustainable Equity ETF (CBSE) to iShares MSCI Emerging Markets Quality Factor ETF (EQLT)

CBSE

Changebridge Capital Sustainable Equity ETF

CBSE Description

The investment seeks capital appreciation and lower volatility than the broader market. The fund is an actively-managed ETF that seeks to achieve its investment objective by purchasing securities Changebridge Capital, LLC, the fund's investment adviser, believes to have above-average financial characteristics and growth potential that exhibit positive ESG attributes. Under normal circumstances, it will invest at least 80% of its net assets, plus borrowings for investment purposes, in equity securities, including common stocks and depositary receipts, of sustainable companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$32.60

Average Daily Volume

2,832

Number of Holdings ^*

* may have additional holdings in another (foreign) market

EQLT

iShares MSCI Emerging Markets Quality Factor ETF

EQLT Description

EQLT tracks an index of emerging market stocks perceived to be higher quality. The starting universe begins with large- and mid-cap stocks from the MSCI Emerging Markets Index. The fund calculates a Quality Score for each security using three fundamental metrics: high return on equity, stable year-over-year earnings growth, and low financial leverage. The fund selects securities with higher quality scores until it covers about half of the market-cap within each country in the parent index. The fund then assigns weights by multiplying each securitys market-cap weight in the parent index by a Tilt Score. The Tilt Score accounts for the securitys quality score and relative market-cap position. The resulting weights are normalized to build the portfolio. Issuers are capped at 5%, along with other country and sector weight limits. The fund may invest in derivatives or engage in securities lending. The index is reviewed and rebalanced semi-annually.

Grade (RS Rating)

Last Trade

$23.93

Average Daily Volume

428

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CBSE	EQLT
30 Days	2.99%	-5.99%
60 Days	7.25%	-1.80%
90 Days	8.49%
12 Months	46.33%

1 Overlapping Holdings

	Symbol	Grade	Weight in CBSE	Weight in EQLT	Overlap
	IBN	C	2.85%	2.55%	2.55%

CBSE Overweight 33 Positions Relative to EQLT

Symbol	Grade	Weight
SPOT	A	3.42%
LNG	A	3.41%
CCL	A	3.27%
MGNI	A	3.06%
VST	A	3.03%
ROL	A	3.02%
RDDT	B	2.99%
BWXT	A	2.94%
OSW	B	2.9%
TDG	D	2.88%
ERJ	A	2.86%
INTC	C	2.83%
NARI	C	2.82%
SKY	A	2.8%
STRL	B	2.71%
GTLS	A	2.7%
WTTR	A	2.69%
PL	B	2.69%
HUMA	F	2.56%
OKLO	C	2.4%
DELL	C	2.18%
VITL	F	2.1%
SO	C	2.09%
D	C	2.09%
CPRI	F	2.03%
SCHW	A	2.0%
NEE	C	1.94%
SCI	B	1.93%
MC	B	1.93%
ON	F	1.92%
AMZN	B	1.9%
ETR	A	1.79%
CRSP	D	0.91%

CBSE Underweight 4 Positions Relative to EQLT

Symbol	Grade	Weight
BABA	D	-4.1%
HDB	C	-1.12%
YUMC	B	-0.33%
WIT	B	-0.12%