CLSE vs. BNDX ETF Comparison

Comparison of Convergence Long/Short Equity ETF (CLSE) to Vanguard Total International Bond ETF (BNDX)

CLSE

Convergence Long/Short Equity ETF

CLSE Description

The investment seeks long-term capital growth. The fund seeks to invest, under normal market conditions, at least 80% of its net assets (plus any borrowings for investment purposes) in long and short positions in equity securities of domestic companies. The adviser intends to maintain a net long exposure (the market value of long positions minus the market value of short positions) of approximately 50% to 100%. Under normal market conditions, the fund’s long positions may range from approximately 90% to 150% and its short positions may range from approximately 20% to 70%.

Grade (RS Rating)

Last Trade

$22.51

Average Daily Volume

49,544

Number of Holdings ^*

331

* may have additional holdings in another (foreign) market

BNDX

Vanguard Total International Bond ETF

BNDX Description

The investment seeks to track the performance of a benchmark index that measures the investment return of non-U.S. dollar-denominated investment-grade bonds. The fund employs an indexing investment approach designed to track the performance of the Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). This Index provides a broad-based measure of the global, investment-grade, fixed-rate debt markets. It invests by sampling the index. All of the fund's investments will be selected through the sampling process, and at least 80% of the fund's assets will be invested in bonds included in the index. It is non-diversified.

Grade (RS Rating)

Last Trade

$50.04

Average Daily Volume

2,838,352

Number of Holdings ^*

154

* may have additional holdings in another (foreign) market

Performance

Period	CLSE	BNDX
30 Days	5.51%	0.33%
60 Days	11.19%	0.70%
90 Days	4.00%	3.24%
12 Months	39.98%	10.09%

36 Overlapping Holdings

Symbol	Grade	Weight in CLSE	Weight in BNDX	Overlap
AAPL	C	1.95%	0.01%	0.01%
ABBV	C	1.02%	0.01%	0.01%
AL	D	-0.26%	0.01%	-0.26%
AMGN	D	0.28%	0.01%	0.01%
APD	C	-0.2%	0.01%	-0.2%
BAC	B	0.8%	0.01%	0.01%
BG	F	0.69%	0.01%	0.01%
BKNG	B	0.26%	0.01%	0.01%
BMY	A	0.92%	0.01%	0.01%
C	B	-0.26%	0.01%	-0.26%
EEFT	F	0.39%	0.01%	0.01%
GE	B	-0.29%	0.01%	-0.29%
GLW	C	0.28%	0.01%	0.01%
GM	D	0.51%	0.01%	0.01%
IBM	A	1.43%	0.01%	0.01%
INTC	D	-0.8%	0.01%	-0.8%
JNJ	D	0.91%	0.01%	0.01%
JPM	C	0.59%	0.01%	0.01%
MDT	C	0.46%	0.01%	0.01%
MET	A	0.56%	0.01%	0.01%
MO	D	0.76%	0.01%	0.01%
MRK	F	0.5%	0.01%	0.01%
MSFT	D	1.01%	0.01%	0.01%
NDAQ	C	-0.35%	0.01%	-0.35%
NEE	C	0.54%	0.01%	0.01%
ORCL	A	1.46%	0.01%	0.01%
PG	D	0.7%	0.01%	0.01%
PSA	C	-0.3%	0.01%	-0.3%
RTX	A	0.54%	0.01%	0.01%
SPG	A	0.4%	0.01%	0.01%
T	B	1.01%	0.01%	0.01%
VTRS	D	0.0%	0.01%	0.0%
WFC	B	0.58%	0.01%	0.01%
WMT	A	1.94%	0.01%	0.01%
XOM	A	0.59%	0.01%	0.01%
XYL	C	-0.22%	0.01%	-0.22%

CLSE Overweight 295 Positions Relative to BNDX

Symbol	Grade	Weight
NVDA	B	3.84%
META	A	3.31%
GOOGL	B	3.08%
AVGO	B	2.7%
QCOM	D	2.56%
AMZN	C	2.37%
HPE	B	2.06%
ANET	A	1.93%
CVNA	A	1.82%
NTAP	D	1.74%
CVLT	B	1.65%
APP	A	1.45%
GDDY	B	1.41%
DOCU	A	1.4%
GOOG	B	1.26%
HD	A	1.22%
IDCC	A	1.17%
ACIW	A	1.16%
PYPL	A	1.07%
MU	D	1.05%
AMG	B	1.0%
SNEX	B	1.0%
JHG	A	0.97%
NTNX	C	0.95%
AVT	B	0.95%
SYF	A	0.94%
HALO	D	0.94%
GILD	A	0.91%
NTRS	B	0.89%
THC	D	0.86%
EME	B	0.86%
DVA	C	0.83%
AMRX	B	0.83%
OGN	F	0.83%
MLI	B	0.78%
UHS	D	0.78%
VLO	F	0.77%
SEIC	B	0.77%
PPC	C	0.77%
BFH	D	0.74%
TSLA	C	0.74%
FTDR	B	0.73%
JXN	A	0.71%
CNC	F	0.7%
NRG	A	0.69%
COR	F	0.68%
IIPR	C	0.67%
CHRW	C	0.67%
ADMA	A	0.67%
IESC	A	0.66%
GVA	A	0.65%
LNG	A	0.65%
UMBF	C	0.63%
FITB	C	0.61%
PATK	A	0.61%
PNC	C	0.59%
RF	B	0.59%
MWA	A	0.58%
CAH	B	0.58%
SLVM	C	0.58%
UNP	F	0.57%
MTZ	A	0.57%
VST	A	0.56%
PRIM	A	0.56%
MATX	C	0.56%
DVN	F	0.55%
REZI	D	0.55%
AVA	D	0.55%
LMT	A	0.54%
TSN	D	0.53%
NEM	C	0.52%
STRL	B	0.52%
OSCR	C	0.52%
RGA	B	0.52%
EXPE	B	0.5%
PNW	C	0.48%
CNA	D	0.47%
PGR	B	0.47%
ATGE	D	0.47%
KLAC	B	0.47%
LNTH	C	0.46%
LDOS	A	0.45%
CVX	B	0.45%
EXP	C	0.44%
MPC	D	0.44%
CACI	A	0.44%
SCCO	B	0.44%
VRT	B	0.42%
EQR	C	0.41%
RGLD	C	0.41%
ACT	B	0.39%
CFG	C	0.39%
FCX	B	0.38%
MUSA	D	0.38%
LAMR	C	0.36%
CAT	A	0.36%
ALSN	A	0.35%
CTRE	C	0.35%
NSA	D	0.35%
IBP	C	0.34%
TOL	C	0.34%
KBH	D	0.32%
J	F	0.32%
STAG	D	0.32%
ABM	D	0.32%
NFLX	A	0.31%
SM	D	0.31%
NVR	C	0.31%
BCO	C	0.31%
OUT	C	0.27%
ALNY	C	0.25%
CCL	C	0.25%
JLL	C	0.25%
ASPN	C	0.25%
ANF	D	0.24%
CVS	D	0.19%
CPNG	C	0.18%
KMB	D	0.16%
KR	C	0.16%
NTRA	A	0.15%
SPOT	C	0.14%
GRMN	D	0.09%
QQQ	B	0.0%
ADUS	D	0.0%
MHO	C	0.0%
KNF	B	0.0%
MRO	B	0.0%
HRB	C	0.0%
JOBY	C	-0.04%
CAR	D	-0.06%
PENN	D	-0.07%
PGNY	F	-0.08%
AES	C	-0.08%
MCW	F	-0.09%
CZR	B	-0.09%
BRKR	D	-0.09%
MASI	B	-0.09%
NXST	D	-0.09%
AGL	F	-0.1%
DRVN	C	-0.1%
VAC	D	-0.1%
LGIH	C	-0.1%
HGV	F	-0.1%
AWR	B	-0.1%
VMC	D	-0.11%
HHH	C	-0.11%
ACVA	C	-0.11%
SBUX	B	-0.11%
SJM	D	-0.12%
ALIT	D	-0.12%
JBLU	B	-0.13%
RBLX	D	-0.13%
PCH	C	-0.14%
PPBI	D	-0.14%
MTN	D	-0.14%
EXR	D	-0.15%
MKL	B	-0.15%
KRG	C	-0.15%
COLD	D	-0.15%
DAY	C	-0.15%
AA	B	-0.15%
BIRK	F	-0.15%
PYCR	D	-0.15%
WAL	C	-0.16%
THO	C	-0.16%
WY	C	-0.16%
CC	D	-0.16%
WTRG	D	-0.16%
CHDN	C	-0.16%
OKE	A	-0.17%
OSK	F	-0.17%
AESI	B	-0.17%
ENOV	F	-0.17%
UHAL	C	-0.17%
ALGM	F	-0.17%
BEAM	F	-0.17%
KNSL	B	-0.18%
LUV	B	-0.18%
CHK	C	-0.18%
NTLA	F	-0.18%
TXG	F	-0.18%
VNO	B	-0.18%
HI	F	-0.18%
TFC	D	-0.19%
CINF	A	-0.19%
TTD	A	-0.19%
AJG	C	-0.19%
PNFP	B	-0.19%
LKQ	F	-0.19%
XPO	F	-0.19%
CGON	C	-0.19%
CACC	F	-0.2%
ELF	F	-0.2%
SOFI	C	-0.2%
BE	F	-0.2%
AVAV	B	-0.2%
GTLS	D	-0.2%
KROS	C	-0.2%
CNH	C	-0.2%
GATX	F	-0.2%
BANC	D	-0.2%
GPOR	B	-0.21%
COLB	C	-0.21%
EW	F	-0.21%
IRTC	F	-0.21%
MSCI	B	-0.21%
AGCO	D	-0.21%
TREX	D	-0.21%
AIR	C	-0.21%
FLYW	F	-0.22%
WOLF	F	-0.22%
COTY	F	-0.22%
RBA	D	-0.22%
FCNCA	D	-0.22%
WTM	C	-0.22%
UEC	C	-0.22%
ARWR	F	-0.22%
DXCM	F	-0.23%
KLIC	D	-0.23%
EL	D	-0.23%
SW	C	-0.24%
RNR	A	-0.24%
SUM	F	-0.24%
BIO	B	-0.24%
AEIS	B	-0.25%
CNX	A	-0.26%
HSY	D	-0.26%
EQT	C	-0.27%
SITE	D	-0.27%
ALB	D	-0.27%
PEN	D	-0.27%
ROIV	D	-0.27%
GMED	B	-0.28%
LW	D	-0.28%
D	A	-0.29%
CELH	F	-0.29%
MRNA	F	-0.3%
NEOG	F	-0.3%
PTEN	F	-0.3%
GT	F	-0.3%
APLS	F	-0.31%
SRE	C	-0.31%
MNST	D	-0.31%
VVV	D	-0.31%
ENPH	F	-0.32%
EVTC	D	-0.32%
INSP	C	-0.32%
AUR	C	-0.34%
FDS	C	-0.34%
MKTX	B	-0.34%
ON	F	-0.34%
MARA	F	-0.34%
AFRM	C	-0.35%
BRZE	F	-0.36%
APO	A	-0.36%
LPLA	D	-0.37%
BA	F	-0.37%
FOUR	A	-0.37%
EXAS	C	-0.38%
LYV	A	-0.38%
RIVN	F	-0.38%
ADBE	F	-0.39%
ZBRA	B	-0.39%
RIOT	F	-0.39%
PATH	D	-0.4%
CYTK	D	-0.41%
WBD	F	-0.42%
SATS	C	-0.43%
BBIO	F	-0.43%
ZI	F	-0.44%
MDB	D	-0.44%
GLOB	D	-0.45%
DLTR	F	-0.45%
CGNX	F	-0.45%
CCOI	B	-0.45%
DV	F	-0.46%
CASY	D	-0.47%
TTWO	D	-0.47%
BILL	D	-0.48%
LBRDK	C	-0.48%
PINS	D	-0.49%
CFLT	F	-0.51%
MCHP	F	-0.52%
FIVE	D	-0.52%
FIVN	F	-0.53%
U	D	-0.53%
RH	C	-0.54%
POOL	D	-0.56%
DELL	C	-0.6%
FND	C	-0.64%
GFS	F	-0.67%
LITE	A	-0.79%
WDC	C	-0.8%
LSCC	D	-0.81%
TXN	C	-0.85%

CLSE Underweight 118 Positions Relative to BNDX

Symbol	Grade	Weight
SO	A	-0.01%
SLB	D	-0.01%
SCOR	F	-0.01%
ZBH	F	-0.01%
WM	B	-0.01%
WHR	C	-0.01%
WELL	C	-0.01%
WBA	F	-0.01%
VTR	C	-0.01%
VFC	A	-0.01%
UPS	D	-0.01%
TEL	D	-0.01%
TAP	D	-0.01%
SYY	D	-0.01%
SYK	C	-0.01%
AIG	C	-0.01%
CP	C	-0.01%
COF	A	-0.01%
EMR	B	-0.01%
EMN	C	-0.01%
MP	C	-0.01%
CL	D	-0.01%
EDC	A	-0.01%
ECL	C	-0.01%
DXC	C	-0.01%
DSM	C	-0.01%
MMM	C	-0.01%
MHK	C	-0.01%
CE	D	-0.01%
CCEP	C	-0.01%
DIS	D	-0.01%
MCO	D	-0.01%
MCK	F	-0.01%
MAN	D	-0.01%
MA	A	-0.01%
LYB	B	-0.01%
LLY	D	-0.01%
BWA	C	-0.01%
BX	C	-0.01%
PEP	F	-0.01%
BSX	A	-0.01%
IFF	D	-0.01%
KMI	A	-0.01%
KKR	A	-0.01%
K	B	-0.01%
HOG	D	-0.01%
BLK	A	-0.01%
BIP	B	-0.01%
PPL	C	-0.01%
PPG	D	-0.01%
PM	D	-0.01%
BDX	C	-0.01%
PFE	D	-0.01%
GIS	C	-0.01%
OMC	C	-0.01%
OBND	B	-0.01%
O	C	-0.01%
BACA	F	-0.01%
AZN	D	-0.01%
ASML	F	-0.01%
APTV	D	-0.01%
FDX	F	-0.01%
ITW	C	-0.01%
AON	A	-0.01%
AMT	D	-0.01%
AMCR	C	-0.01%
ETN	B	-0.01%
DE	C	-0.01%
SE	B	-0.01%
RY	C	-0.01%
TMO	D	-0.01%
WPC	C	-0.01%
VOD	D	-0.01%
USB	C	-0.01%
MUFG	D	-0.01%
CRH	C	-0.01%
ADM	F	-0.01%
TD	B	-0.01%
DOV	C	-0.01%
DOW	B	-0.01%
CB	A	-0.01%
DHY	B	-0.01%
DHR	D	-0.01%
MDLZ	D	-0.01%
MCD	A	-0.01%
KO	C	-0.01%
LIN	C	-0.01%
CAF	A	-0.01%
BHP	B	-0.01%
HON	C	-0.01%
JCI	C	-0.01%
BAX	D	-0.01%
GSK	F	-0.01%
PLD	D	-0.01%
PH	A	-0.01%
EQNR	D	-0.01%
DB	A	-0.01%
FIS	A	-0.01%
GS	B	-0.01%
BMO	B	-0.01%
BNS	C	-0.01%
KSA	D	-0.01%
DLR	C	-0.01%
MS	A	-0.01%
ABT	C	-0.01%
UBS	B	-0.01%
VZ	C	-0.01%
SEB	F	-0.01%
STLA	F	-0.01%
EDF	B	-0.01%
DT	B	-0.01%
CMCSA	B	-0.01%
NWG	B	-0.01%
HSBC	A	-0.01%
CM	C	-0.01%
COE	D	-0.01%
CAN	D	-0.01%
BGB	A	-0.01%