CEFS vs. CCEF ETF Comparison

Comparison of Exchange Listed Funds Trust ETF (CEFS) to Calamos CEF Income & Arbitrage ETF (CCEF)

CEFS

Exchange Listed Funds Trust ETF

CEFS Description

The investment seeks to provide capital appreciation and dividend income. The fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by normally investing at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities issued by closed-end funds (the "underlying funds"). The advisor expects to invest in underlying funds operated by a diversified group of closed-end fund managers ("underlying fund managers"). The fund normally invests in underlying funds that primarily pursue high yield opportunities.

Grade (RS Rating)

Last Trade

$21.89

Average Daily Volume

49,454

Number of Holdings ^*

105

* may have additional holdings in another (foreign) market

CCEF

Calamos CEF Income & Arbitrage ETF

CCEF Description

The fund is an actively managed exchange-traded fund (ETF) that seeks high current income and long-term capital appreciation by investing in unaffiliated closed-end funds that the fund's investment adviser, Calamos Advisors LLC, believes offer both attractive income opportunities as well as arbitrage opportunities resulting from such closed-end funds trading at attractive discounts. Under normal circumstances, the fund seeks to achieve its investment objectives by investing at least 80% of its net assets in U.S. and non-U.S. closed-end funds. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$27.85

Average Daily Volume

2,735

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CEFS	CCEF
30 Days	-2.15%	-2.76%
60 Days	0.96%	0.09%
90 Days	3.39%	4.61%
12 Months	35.02%

10 Overlapping Holdings

Symbol	Grade	Weight in CEFS	Weight in CCEF	Overlap
AOD	C	1.02%	2.98%	1.02%
ASGI	A	4.03%	2.78%	2.78%
DIAX	B	0.02%	1.98%	0.02%
ETW	A	0.0%	3.2%	0.0%
IIF	C	0.0%	2.56%	0.0%
KYN	B	0.02%	3.43%	0.02%
NML	B	0.05%	2.19%	0.05%
NTG	A	1.07%	1.51%	1.07%
RA	A	0.21%	3.06%	0.21%
RMT	D	0.0%	0.98%	0.0%

CEFS Overweight 95 Positions Relative to CCEF

Symbol	Grade	Weight
BIGZ	A	12.12%
ASA	B	8.22%
BCAT	C	5.82%
ADX	A	5.52%
BFZ	D	5.03%
ENX	D	3.8%
PDX	C	3.35%
NQP	D	3.12%
GDV	C	3.0%
NXJ	D	3.0%
HQL	D	2.89%
EVM	D	2.23%
BSTZ	A	2.22%
BMEZ	A	2.16%
HQH	D	2.13%
GRX	D	1.86%
AFB	D	1.8%
VTN	C	1.76%
MHI	C	1.68%
TEAF	B	1.66%
LGI	D	1.56%
EDD	D	1.35%
VPV	C	1.25%
NFJ	D	1.2%
ECF	A	1.16%
FMN	D	1.1%
KSM	B	1.09%
EMO	B	1.04%
LEO	D	1.03%
VGM	C	1.0%
PGZ	D	0.85%
JRI	B	0.84%
MAV	D	0.84%
NPFD	A	0.83%
NBH	D	0.76%
DMF	C	0.66%
IHD	C	0.65%
CEV	D	0.64%
GAM	C	0.58%
DSM	D	0.56%
CXE	D	0.47%
HYB	C	0.46%
VKQ	C	0.41%
BOE	B	0.39%
VCV	D	0.39%
IDE	A	0.32%
NDP	B	0.32%
DMB	D	0.3%
PCK	D	0.26%
VMO	C	0.23%
TWN	B	0.22%
PEO	B	0.22%
CPZ	A	0.22%
EOD	D	0.19%
GNT	C	0.18%
TTP	A	0.15%
FGB	A	0.13%
AGD	C	0.13%
MPA	D	0.11%
CMU	C	0.1%
CXH	B	0.09%
ERH	C	0.09%
MFD	C	0.08%
TYG	B	0.06%
GLO	C	0.05%
HEQ	C	0.03%
PNI	D	0.03%
IGA	B	0.03%
GLV	C	0.03%
MFM	C	0.02%
MUJ	D	0.02%
SBI	C	0.02%
GLQ	C	0.01%
MVT	D	0.01%
GF	C	0.01%
MUC	D	0.01%
BTT	C	0.01%
MYN	D	0.01%
NAC	D	0.01%
MXE	F	0.01%
BCV	B	0.01%
PFO	C	0.01%
NAN	C	0.0%
NMT	A	0.0%
MUE	C	0.0%
MIY	C	0.0%
BNY	D	0.0%
BHV	D	0.0%
NOM	D	0.0%
VFL	D	0.0%
NAZ	C	0.0%
BGY	D	0.0%
SWZ	D	0.0%
MHN	D	0.0%
PYN	D	0.0%

CEFS Underweight 28 Positions Relative to CCEF

Symbol	Grade	Weight
PDT	D	-4.24%
THQ	D	-3.78%
EXG	C	-3.39%
HTD	C	-3.0%
ERC	D	-2.99%
RIV	B	-2.98%
ASG	B	-2.72%
BDJ	A	-2.69%
BBN	C	-2.62%
IFN	D	-2.4%
RQI	D	-2.21%
NBB	C	-2.07%
FFC	D	-2.05%
EVT	C	-1.96%
JQC	A	-1.93%
HFRO	F	-1.75%
EMF	C	-1.57%
JPC	A	-1.54%
IGR	D	-1.18%
TSI	B	-1.14%
BTO	A	-1.1%
FAX	D	-1.02%
USA	B	-1.01%
HYI	A	-1.0%
EVV	A	-0.98%
ACP	A	-0.97%
BME	D	-0.86%
CII	C	-0.22%

CEFS: Top Represented Industries & Keywords

Industries: Asset Management Other

CCEF: Top Represented Industries & Keywords

Industries: Asset Management