CEFS vs. WBIF ETF Comparison

Comparison of Exchange Listed Funds Trust ETF (CEFS) to WBI Large Cap Tactical Value Shares (WBIF)

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

$22.15

Average Daily Volume

47,568

Number of Holdings ^*

* may have additional holdings in another (foreign) market

WBIF

WBI Large Cap Tactical Value Shares

WBIF Description

The investment seeks long-term capital appreciation and the potential for current income, while also seeking to protect principal during unfavorable market conditions. The fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the equity securities of large capitalization domestic and foreign companies which WBI Investments, Inc., the sub-advisor to the fund and an affiliate of Millington Securities Inc., the advisor, believes display an attractive discount in a company's intrinsic value relative to its market price, and up to 20% of its net assets in other tactical investment opportunities.

Grade (RS Rating)

Last Trade

$30.23

Average Daily Volume

1,654

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CEFS	WBIF
30 Days	-0.04%	2.86%
60 Days	1.46%	3.49%
90 Days	3.95%	3.85%
12 Months	29.19%	12.70%

0 Overlapping Holdings

	Symbol	Grade	Weight in CEFS	Weight in WBIF	Overlap

CEFS Overweight 89 Positions Relative to WBIF

Symbol	Grade	Weight
BIGZ	A	16.16%
GDV	A	8.03%
PDX	A	8.02%
ASA	D	7.98%
ADX	A	5.7%
BCAT	A	4.77%
BFZ	D	4.65%
NFJ	A	4.6%
GAM	B	4.11%
ASGI	C	3.88%
ENX	B	3.59%
BSTZ	A	3.54%
EVM	C	2.95%
NQP	C	2.81%
NXJ	D	2.75%
HQL	D	2.62%
BOE	A	2.55%
MHI	D	2.15%
BMEZ	D	1.98%
HQH	D	1.85%
GRX	D	1.73%
AFB	D	1.68%
MAV	C	1.6%
TEAF	D	1.57%
BGY	C	1.37%
LGI	D	1.34%
NTG	A	1.26%
IIF	D	1.25%
ECF	A	1.23%
EMO	A	1.2%
VPV	B	1.19%
KSM	F	1.06%
AOD	D	0.98%
BCX	C	0.97%
LEO	D	0.95%
VTN	B	0.81%
EDD	D	0.79%
NBH	D	0.7%
JOF	D	0.66%
IHD	D	0.63%
GF	F	0.61%
PGZ	D	0.61%
DSM	D	0.5%
HYB	B	0.45%
CEV	D	0.4%
QQQX	B	0.37%
NDP	A	0.37%
GLQ	B	0.36%
CXE	D	0.36%
BGR	A	0.36%
BCV	A	0.3%
DMB	C	0.28%
FMN	D	0.25%
EOD	C	0.24%
PEO	A	0.23%
CPZ	A	0.22%
TWN	D	0.21%
PCK	D	0.21%
RA	C	0.17%
GNT	C	0.17%
TTP	A	0.17%
VMO	D	0.16%
MPA	D	0.11%
AGD	D	0.11%
FGB	A	0.09%
SWZ	F	0.08%
ERH	B	0.08%
TYG	A	0.07%
NML	A	0.05%
VGM	D	0.04%
GLO	D	0.04%
GLV	D	0.03%
HEQ	C	0.03%
PNI	D	0.02%
KYN	A	0.02%
DIAX	A	0.02%
MYN	C	0.01%
MFM	D	0.01%
BTT	D	0.01%
MXE	F	0.01%
MUJ	D	0.0%
BHV	D	0.0%
MIY	D	0.0%
NAC	D	0.0%
VFL	D	0.0%
BNY	D	0.0%
RMT	B	0.0%
MHN	D	0.0%
MUC	D	0.0%

CEFS Underweight 43 Positions Relative to WBIF

Symbol	Grade	Weight
WRB	A	-4.74%
UHS	D	-4.68%
FIX	A	-4.58%
KBH	D	-4.54%
NXST	C	-4.43%
V	A	-4.26%
CI	D	-4.26%
DKS	D	-4.24%
PRU	A	-4.14%
ACN	B	-3.98%
UNM	A	-3.93%
MCK	A	-3.93%
AMAT	F	-3.55%
RGA	A	-3.26%
VOYA	B	-3.26%
OXY	D	-2.81%
PHM	D	-2.6%
MMC	B	-2.12%
CF	A	-1.86%
ADP	A	-1.53%
AXP	A	-1.53%
AME	A	-1.46%
G	B	-1.44%
PRI	B	-1.42%
PAYX	B	-1.39%
BR	A	-1.36%
TXRH	B	-1.33%
CASY	A	-1.28%
RMD	C	-1.23%
FLTR	A	-0.76%
FALN	A	-0.75%
AGZD	A	-0.75%
FTSL	A	-0.69%
ALSN	B	-0.67%
THG	A	-0.59%
DCI	B	-0.56%
GL	C	-0.55%
STIP	C	-0.54%
TOL	B	-0.54%
ALLE	C	-0.53%
CBT	D	-0.53%
DOX	D	-0.52%
BKLN	A	-0.32%

CEFS: Top Represented Industries & Keywords

Industries: Asset Management Other