CEFS vs. KCE ETF Comparison

Comparison of Exchange Listed Funds Trust ETF (CEFS) to SPDR S&P Capital Markets ETF (KCE)

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

$22.44

Average Daily Volume

61,503

Number of Holdings ^*

105

* may have additional holdings in another (foreign) market

KCE

SPDR S&P Capital Markets ETF

KCE Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index that tracks the performance of publicly traded companies that do business as broker-dealers, asset managers, trust and custody banks or exchanges. In seeking to track the performance of the S&P Capital Markets Select Industry Index, the fund employs a replication strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the capital markets industry group of the S&P Total Market Index ("S&P TMI"). It is non-diversified.

Grade (RS Rating)

Last Trade

$124.20

Average Daily Volume

34,956

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CEFS	KCE
30 Days	3.49%	2.70%
60 Days	5.99%	9.25%
90 Days	5.33%	12.09%
12 Months	39.23%	47.73%

0 Overlapping Holdings

	Symbol	Grade	Weight in CEFS	Weight in KCE	Overlap

CEFS Overweight 105 Positions Relative to KCE

Symbol	Grade	Weight
BIGZ	B	12.12%
ASA	B	8.22%
BCAT	A	5.82%
ADX	B	5.52%
BFZ	A	5.03%
ASGI	A	4.03%
ENX	A	3.8%
PDX	C	3.35%
NQP	B	3.12%
GDV	B	3.0%
NXJ	A	3.0%
HQL	C	2.89%
EVM	A	2.23%
BSTZ	B	2.22%
BMEZ	C	2.16%
HQH	C	2.13%
GRX	C	1.86%
AFB	A	1.8%
VTN	A	1.76%
MHI	A	1.68%
TEAF	A	1.66%
LGI	A	1.56%
EDD	A	1.35%
VPV	A	1.25%
NFJ	A	1.2%
ECF	A	1.16%
FMN	A	1.1%
KSM	A	1.09%
NTG	B	1.07%
EMO	B	1.04%
LEO	A	1.03%
AOD	A	1.02%
VGM	A	1.0%
PGZ	A	0.85%
JRI	A	0.84%
MAV	B	0.84%
NPFD	A	0.83%
NBH	A	0.76%
DMF	B	0.66%
IHD	B	0.65%
CEV	D	0.64%
GAM	A	0.58%
DSM	A	0.56%
CXE	A	0.47%
HYB	A	0.46%
VKQ	A	0.41%
BOE	A	0.39%
VCV	B	0.39%
IDE	A	0.32%
NDP	A	0.32%
DMB	A	0.3%
PCK	A	0.26%
VMO	A	0.23%
TWN	C	0.22%
PEO	A	0.22%
CPZ	A	0.22%
RA	A	0.21%
EOD	A	0.19%
GNT	C	0.18%
TTP	B	0.15%
FGB	C	0.13%
AGD	B	0.13%
MPA	A	0.11%
CMU	A	0.1%
CXH	A	0.09%
ERH	A	0.09%
MFD	C	0.08%
TYG	A	0.06%
GLO	A	0.05%
NML	A	0.05%
HEQ	A	0.03%
PNI	A	0.03%
IGA	C	0.03%
GLV	A	0.03%
MFM	A	0.02%
MUJ	A	0.02%
DIAX	A	0.02%
KYN	A	0.02%
SBI	A	0.02%
GLQ	B	0.01%
MVT	B	0.01%
GF	B	0.01%
MUC	A	0.01%
BTT	A	0.01%
MYN	A	0.01%
NAC	A	0.01%
MXE	F	0.01%
BCV	A	0.01%
PFO	A	0.01%
ETW	A	0.0%
NAN	A	0.0%
NMT	A	0.0%
MUE	A	0.0%
MIY	A	0.0%
BNY	A	0.0%
BHV	B	0.0%
NOM	B	0.0%
RMT	C	0.0%
VFL	A	0.0%
IIF	B	0.0%
NAZ	A	0.0%
BGY	A	0.0%
SWZ	B	0.0%
MHN	A	0.0%
PYN	A	0.0%

CEFS Underweight 59 Positions Relative to KCE

Symbol	Grade	Weight
LPLA	D	-1.85%
IVZ	C	-1.84%
COIN	F	-1.83%
STEP	A	-1.81%
HLNE	A	-1.81%
SF	A	-1.8%
EVR	C	-1.79%
OWL	B	-1.79%
KKR	C	-1.78%
PJT	C	-1.78%
MS	B	-1.77%
VCTR	C	-1.77%
FHI	C	-1.77%
IBKR	A	-1.77%
CG	C	-1.77%
STT	C	-1.76%
ARES	B	-1.76%
APAM	C	-1.76%
AMP	A	-1.76%
BLK	B	-1.76%
JHG	C	-1.75%
TROW	D	-1.74%
PIPR	C	-1.74%
BK	C	-1.73%
JEF	B	-1.73%
AMG	C	-1.73%
TW	A	-1.72%
GS	D	-1.72%
BEN	F	-1.72%
CNS	C	-1.72%
RJF	B	-1.72%
SEIC	B	-1.71%
FDS	C	-1.7%
TPG	C	-1.7%
HLI	B	-1.7%
MC	C	-1.7%
SCHW	D	-1.7%
HOOD	C	-1.69%
NTRS	C	-1.69%
MORN	C	-1.69%
BX	C	-1.68%
DBRG	D	-1.67%
CME	A	-1.67%
MSCI	B	-1.67%
NDAQ	C	-1.65%
MCO	C	-1.65%
SPGI	C	-1.64%
MKTX	C	-1.64%
ICE	A	-1.63%
CBOE	B	-1.63%
VIRT	C	-1.61%
BGC	B	-1.6%
SNEX	C	-1.37%
VRTS	F	-1.21%
DFIN	D	-1.04%
PX	B	-0.66%
BSIG	C	-0.65%
DHIL	C	-0.39%
LPRO	D	-0.37%

CEFS: Top Represented Industries & Keywords

Industries: Asset Management Other