CLSE vs. DFND ETF Comparison

Comparison of Convergence Long/Short Equity ETF (CLSE) to Realty Shares DIVCON Dividend Defender ETF (DFND)

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

$23.49

Average Daily Volume

63,552

Number of Holdings ^*

337

* may have additional holdings in another (foreign) market

DFND

Realty Shares DIVCON Dividend Defender ETF

DFND Description

The investment seeks long-term capital appreciation by tracking the performance, before fees and expenses, of the Reality Shares DIVCON Dividend Defender Index. The index is designed to select the companies for a long position that have the highest probability of increasing their dividend in a 12-month period and select the companies for a short position that have the highest probability of decreasing their dividend in a 12-month period. Under normal circumstances, at least 80% of the fund's assets (other than collateral held from securities lending, if any) will be invested in component securities of the benchmark index. It is non-diversified.

Grade (RS Rating)

Last Trade

$42.34

Average Daily Volume

765

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CLSE	DFND
30 Days	3.30%	4.44%
60 Days	8.77%	0.90%
90 Days	9.46%	11.92%
12 Months	39.70%	12.30%

16 Overlapping Holdings

Symbol	Grade	Weight in CLSE	Weight in DFND	Overlap
AAPL	C	1.12%	0.94%	0.94%
ALB	C	-0.16%	0.98%	-0.16%
AVGO	C	2.43%	0.91%	0.91%
HSY	F	-0.23%	1.33%	-0.23%
INTC	C	-0.99%	-1.12%	-1.12%
J	D	0.35%	1.46%	0.35%
LW	C	-0.26%	1.13%	-0.26%
MCHP	F	-0.48%	0.09%	-0.48%
MLM	B	-0.14%	0.84%	-0.14%
MPC	D	0.45%	2.03%	0.45%
MPWR	F	0.62%	1.72%	0.62%
MSCI	A	-0.26%	1.29%	-0.26%
NWS	A	-0.47%	-1.97%	-1.97%
PG	C	0.44%	2.26%	0.44%
SW	A	-0.18%	-2.22%	-2.22%
T	A	0.53%	-2.18%	-2.18%

CLSE Overweight 321 Positions Relative to DFND

Symbol	Grade	Weight
NVDA	B	4.52%
GOOGL	B	3.45%
META	C	3.33%
APP	A	2.93%
AMZN	B	2.42%
MU	D	2.37%
HPE	B	1.96%
ANET	C	1.92%
CVNA	A	1.88%
WMT	A	1.81%
QCOM	F	1.78%
IDCC	A	1.51%
ACIW	B	1.49%
CVLT	B	1.49%
GDDY	A	1.41%
DOCU	A	1.34%
ORCL	A	1.33%
BMY	B	1.28%
NTAP	D	1.21%
JHG	A	1.16%
PYPL	A	1.14%
NTNX	A	1.13%
HD	A	1.12%
GILD	B	1.11%
SYF	A	1.08%
NTRS	A	1.06%
SNEX	A	1.06%
TSLA	B	1.04%
ABBV	F	1.03%
HALO	D	1.0%
LNG	A	0.93%
BFH	A	0.91%
PLTR	A	0.9%
AMG	A	0.9%
PPC	B	0.9%
SEIC	A	0.89%
AMRX	C	0.87%
MLI	B	0.87%
JNJ	D	0.84%
GVA	A	0.84%
IESC	B	0.82%
PRIM	A	0.82%
GM	A	0.82%
CARG	A	0.79%
THC	C	0.78%
BAC	A	0.78%
MO	A	0.76%
CAH	B	0.76%
EME	B	0.76%
NFLX	A	0.75%
DVA	C	0.75%
FITB	A	0.75%
COR	B	0.75%
NRG	B	0.74%
STRL	B	0.74%
CPNG	C	0.73%
WFC	A	0.72%
ALNY	D	0.71%
UHS	D	0.71%
CEIX	A	0.71%
AVT	C	0.7%
VRT	A	0.7%
MWA	A	0.68%
ZION	A	0.68%
RF	A	0.67%
MTZ	B	0.67%
PNC	A	0.67%
APH	B	0.67%
ALSN	B	0.66%
UMBF	A	0.65%
LDOS	C	0.64%
JXN	B	0.62%
JPM	A	0.62%
IBM	D	0.62%
FTDR	B	0.61%
EXPE	A	0.6%
YOU	D	0.6%
FTI	A	0.59%
FLR	B	0.58%
CHRW	A	0.58%
SLVM	B	0.57%
TMUS	A	0.56%
XOM	B	0.56%
TSN	A	0.55%
CACI	C	0.55%
UNP	D	0.53%
RGA	A	0.53%
VST	A	0.52%
MET	A	0.51%
GOOG	B	0.49%
EXP	B	0.48%
PNW	A	0.48%
VLO	C	0.47%
AVA	C	0.46%
PGR	B	0.46%
ALL	A	0.45%
CNA	C	0.44%
GLW	B	0.44%
FFIV	B	0.44%
SCCO	F	0.43%
RMD	C	0.43%
PM	A	0.42%
LPX	A	0.42%
CTRE	D	0.42%
UI	A	0.38%
SPG	A	0.37%
R	A	0.37%
BKNG	A	0.37%
CF	A	0.36%
SR	A	0.36%
DUOL	B	0.34%
OUT	C	0.34%
PTON	B	0.34%
RGLD	C	0.34%
CCL	A	0.34%
EQR	C	0.34%
NEM	F	0.32%
LAMR	D	0.31%
CNC	F	0.31%
MDT	D	0.3%
CVS	F	0.29%
IIPR	F	0.29%
ATGE	B	0.29%
IBP	F	0.26%
NVR	D	0.25%
TOL	B	0.23%
MATX	B	0.22%
EEFT	C	0.22%
JLL	C	0.2%
MUSA	A	0.2%
ABM	B	0.19%
KR	B	0.17%
BAH	D	0.17%
SQ	A	0.15%
MRK	F	0.15%
NSA	C	0.15%
FN	C	0.14%
EXPD	D	0.14%
GRMN	B	0.13%
VCYT	B	0.12%
CINF	A	0.12%
PRU	A	0.12%
SEE	B	0.11%
ANF	C	0.11%
NTRA	B	0.1%
ILMN	C	0.1%
UTHR	B	0.08%
AEIS	B	0.07%
INCY	B	0.07%
HQY	A	0.07%
LNTH	F	0.05%
QQQ	B	0.0%
LRCX	F	0.0%
PATK	C	0.0%
SO	C	0.0%
HGV	B	-0.06%
EXAS	F	-0.07%
RYN	D	-0.07%
CCS	F	-0.07%
HUN	F	-0.08%
AES	F	-0.08%
VMC	B	-0.08%
FLYW	B	-0.08%
GNTX	C	-0.09%
BC	D	-0.09%
JOE	F	-0.09%
FL	F	-0.09%
APD	A	-0.1%
ABG	A	-0.1%
REXR	F	-0.1%
PENN	B	-0.1%
NSC	B	-0.11%
MCW	B	-0.11%
DLR	A	-0.11%
ALIT	C	-0.12%
EL	F	-0.12%
ENPH	F	-0.12%
PCH	D	-0.12%
ACVA	A	-0.12%
EQIX	B	-0.12%
MKL	A	-0.13%
BECN	B	-0.13%
PYCR	C	-0.14%
BPOP	C	-0.14%
AGO	A	-0.14%
EXR	C	-0.14%
CC	C	-0.15%
AA	A	-0.15%
JBLU	C	-0.15%
AGCO	D	-0.15%
DAY	B	-0.15%
GTLS	A	-0.15%
AVAV	C	-0.15%
DRVN	A	-0.15%
MTN	C	-0.16%
CZR	F	-0.16%
CRL	D	-0.16%
OSK	C	-0.16%
TREX	C	-0.16%
BHF	A	-0.16%
COTY	F	-0.16%
DAR	B	-0.16%
CNH	D	-0.16%
NXST	D	-0.16%
COLD	F	-0.16%
LGIH	F	-0.16%
EW	C	-0.16%
RNR	D	-0.16%
C	A	-0.17%
RBA	A	-0.17%
AL	A	-0.17%
UHAL	D	-0.17%
LKQ	D	-0.17%
NARI	C	-0.17%
KRG	B	-0.17%
AJG	A	-0.17%
KNSL	C	-0.17%
SITE	D	-0.17%
XPO	B	-0.17%
BIRK	F	-0.17%
AIR	B	-0.18%
EBC	A	-0.18%
MASI	A	-0.18%
MDGL	C	-0.19%
XYL	D	-0.19%
CHDN	C	-0.19%
ENOV	C	-0.19%
WAL	A	-0.19%
BRKR	F	-0.19%
TEX	D	-0.19%
PRCT	B	-0.19%
TTD	B	-0.19%
GATX	A	-0.2%
WTM	A	-0.2%
CGON	D	-0.2%
UEC	B	-0.2%
BE	A	-0.21%
SRE	A	-0.21%
ATO	A	-0.21%
SAIA	B	-0.22%
EQT	A	-0.22%
AESI	D	-0.22%
GPOR	A	-0.23%
NOG	A	-0.23%
BANC	A	-0.23%
ARWR	D	-0.24%
SUM	B	-0.24%
VAL	F	-0.24%
ELF	C	-0.24%
PSA	C	-0.24%
KEY	A	-0.25%
LYV	A	-0.25%
TEAM	A	-0.26%
CELH	F	-0.26%
WTRG	C	-0.26%
ABNB	C	-0.27%
AUR	D	-0.27%
PTEN	D	-0.27%
SOFI	A	-0.27%
AWK	C	-0.27%
FCNCA	A	-0.27%
PINS	F	-0.28%
MNST	D	-0.28%
FOUR	B	-0.28%
NEOG	D	-0.29%
BILL	A	-0.29%
ESTC	C	-0.29%
GT	C	-0.29%
MKTX	C	-0.3%
XP	F	-0.3%
NDAQ	A	-0.3%
MDB	C	-0.3%
STNE	F	-0.31%
BEN	C	-0.31%
AFRM	A	-0.31%
APLS	F	-0.31%
GTLB	B	-0.32%
LPLA	A	-0.34%
VVV	B	-0.34%
COHR	B	-0.34%
CACC	D	-0.34%
ZBRA	B	-0.35%
APO	A	-0.35%
CCOI	B	-0.36%
DG	F	-0.36%
ALGM	F	-0.36%
INSP	F	-0.37%
BA	F	-0.37%
DLTR	F	-0.38%
WBD	B	-0.39%
PATH	D	-0.39%
BBIO	F	-0.4%
RIVN	F	-0.41%
ON	F	-0.41%
CYTK	D	-0.44%
U	F	-0.45%
MRNA	F	-0.46%
GE	D	-0.48%
SATS	D	-0.48%
CGNX	D	-0.48%
RH	C	-0.49%
DV	C	-0.49%
RBLX	B	-0.5%
TTWO	A	-0.5%
ADBE	F	-0.51%
FIVE	F	-0.51%
FND	F	-0.52%
CFLT	C	-0.52%
ZI	D	-0.54%
BRZE	C	-0.54%
DELL	C	-0.55%
WST	C	-0.57%
FIVN	C	-0.58%
DXCM	C	-0.58%
POOL	D	-0.58%
SMCI	F	-0.59%
WDC	F	-0.73%
LSCC	D	-0.76%
TXN	C	-0.87%
LITE	A	-0.88%
FSLR	F	-1.21%

CLSE Underweight 54 Positions Relative to DFND

Symbol	Grade	Weight
CTAS	B	-2.68%
V	A	-2.65%
SNA	A	-2.64%
KLAC	F	-2.56%
VRSK	B	-2.41%
GWW	A	-2.28%
NDSN	B	-2.24%
SHW	B	-2.22%
MCD	D	-2.19%
BRO	B	-2.17%
LMT	D	-2.13%
FDS	A	-2.12%
CMI	A	-2.03%
PHM	D	-2.03%
MSI	A	-1.89%
MCO	C	-1.81%
PPG	F	-1.78%
MA	A	-1.75%
ETN	A	-1.75%
ITW	B	-1.7%
AMAT	F	-1.63%
ROK	A	-1.55%
ALLE	D	-1.53%
AON	A	-1.53%
DHI	D	-1.5%
CSCO	B	-1.49%
ADI	D	-1.44%
HON	A	-1.37%
CB	C	-1.35%
HUBB	B	-1.33%
CBOE	D	-1.24%
CME	A	-1.24%
MMC	C	-1.22%
LIN	D	-1.21%
COST	B	-1.21%
CMCSA	B	-1.15%
FAST	B	-1.14%
AOS	F	-1.11%
MSFT	D	-0.98%
GL	B	-0.93%
ODFL	B	-0.89%
INTU	A	-0.76%
BR	A	-0.73%
ACN	C	-0.33%
PARA	C	--0.32%
APA	F	--0.79%
DVN	F	--1.1%
VFC	B	--1.12%
FCX	F	--1.98%
LUV	A	--1.99%
IP	A	--2.32%
F	C	--2.36%
CNP	A	--2.57%
D	C	--3.01%