CLSE vs. SPLV ETF Comparison

Comparison of Convergence Long/Short Equity ETF (CLSE) to PowerShares S&P 500 Low Volatility Portfolio ETF (SPLV)

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

$23.68

Average Daily Volume

66,024

Number of Holdings ^*

337

* may have additional holdings in another (foreign) market

SPLV

PowerShares S&P 500 Low Volatility Portfolio ETF

SPLV Description

The PowerShares S&P 500 Low Volatility Portfolio (Fund) is based on the S&P 500 Low Volatility Index (Index). The Fund will invest at least 90% of its total assets in common stocks that comprise the Index. The Index is compiled, maintained and calculated by Standard & Poor's and consists of the 100 stocks from the S&P 500 Index with the lowest realized volatility over the past 12 months. Volatility is a statistical measurement of the magnitude of up and down asset price fluctuations over time. The Fund and the Index are rebalanced and reconstituted quarterly in February, May, August and November.

Grade (RS Rating)

Last Trade

$73.96

Average Daily Volume

1,577,046

Number of Holdings ^*

114

* may have additional holdings in another (foreign) market

Performance

Period	CLSE	SPLV
30 Days	4.69%	2.35%
60 Days	6.81%	3.72%
90 Days	9.38%	6.25%
12 Months	39.93%	23.06%

20 Overlapping Holdings

Symbol	Grade	Weight in CLSE	Weight in SPLV	Overlap
ABBV	D	0.72%	0.0%	0.0%
AJG	B	-0.17%	0.94%	-0.17%
ATO	A	-0.1%	1.21%	-0.1%
COR	B	0.86%	0.99%	0.86%
CSCO	B	-0.52%	0.0%	-0.52%
JNJ	D	0.83%	1.11%	0.83%
JPM	A	0.64%	0.01%	0.01%
LDOS	C	0.55%	0.73%	0.55%
MDT	D	0.29%	0.92%	0.29%
MET	A	0.52%	0.0%	0.0%
MO	A	0.79%	0.94%	0.79%
NDAQ	A	-0.3%	0.93%	-0.3%
PG	A	0.45%	1.22%	0.45%
PNW	B	0.48%	0.9%	0.48%
PRU	A	0.13%	0.0%	0.0%
ROP	B	-0.7%	0.98%	-0.7%
SRE	A	-0.2%	1.02%	-0.2%
TMUS	B	0.7%	1.17%	0.7%
UNP	C	0.47%	0.91%	0.47%
WMT	A	1.82%	0.92%	0.92%

CLSE Overweight 317 Positions Relative to SPLV

Symbol	Grade	Weight
NVDA	C	4.61%
GOOGL	C	3.47%
META	D	3.3%
AMZN	C	2.53%
AVGO	D	2.28%
APP	B	2.25%
MU	D	2.13%
HPE	B	1.92%
CVNA	B	1.85%
ANET	C	1.83%
QCOM	F	1.73%
IDCC	A	1.51%
GDDY	A	1.42%
CVLT	B	1.4%
DOCU	A	1.37%
PYPL	B	1.33%
ORCL	B	1.33%
ACIW	B	1.3%
TSLA	B	1.22%
JHG	A	1.21%
NTNX	A	1.16%
HD	A	1.13%
SYF	B	1.11%
BMY	B	1.11%
NTRS	A	1.08%
GILD	C	1.07%
SNEX	B	1.06%
PLTR	B	1.02%
NTAP	C	1.0%
LNG	B	0.97%
SEIC	B	0.95%
HALO	F	0.9%
AMRX	C	0.9%
BFH	B	0.88%
GM	B	0.87%
CAH	B	0.86%
PPC	C	0.85%
GVA	A	0.84%
MLI	C	0.84%
CARG	C	0.83%
AAPL	C	0.83%
BAC	A	0.81%
PRIM	A	0.8%
NFLX	A	0.79%
THC	D	0.78%
FITB	A	0.78%
DVA	B	0.78%
IESC	B	0.77%
CPNG	D	0.77%
EME	C	0.75%
WFC	A	0.75%
CNX	A	0.74%
FTI	A	0.74%
UTHR	C	0.73%
PNC	B	0.72%
RF	A	0.72%
STRL	B	0.71%
ZION	B	0.71%
CMA	A	0.71%
NRG	B	0.71%
UHS	D	0.7%
CEIX	A	0.7%
GEN	B	0.68%
VRT	B	0.68%
APH	A	0.67%
UMBF	B	0.66%
ALSN	B	0.66%
MTZ	B	0.66%
AVT	C	0.66%
MWA	B	0.65%
BLK	C	0.65%
CHRW	C	0.61%
EXPE	B	0.61%
TSN	B	0.6%
FFIV	B	0.6%
FTDR	A	0.58%
AMG	B	0.58%
VST	B	0.55%
RGA	A	0.55%
GLW	B	0.52%
SLVM	B	0.5%
GOOG	C	0.49%
UI	A	0.49%
EXP	A	0.48%
CACI	D	0.48%
AVA	A	0.47%
PGR	A	0.46%
DUOL	A	0.45%
ALL	A	0.45%
BKNG	A	0.44%
LPX	B	0.43%
CTRE	D	0.42%
SCCO	F	0.41%
RMD	C	0.4%
JXN	C	0.39%
SR	A	0.38%
R	B	0.38%
SPG	B	0.37%
CNA	B	0.37%
CF	B	0.37%
GRMN	B	0.37%
OUT	A	0.36%
EQR	B	0.35%
CCL	B	0.35%
CDP	C	0.34%
RGLD	C	0.32%
CNC	D	0.31%
PTON	B	0.31%
LAMR	D	0.31%
J	F	0.31%
MPWR	F	0.3%
CVS	D	0.29%
VLO	C	0.29%
T	A	0.29%
IIPR	D	0.28%
APA	D	0.25%
NVR	D	0.24%
VRTX	F	0.23%
MATX	C	0.22%
NEM	D	0.22%
TOL	B	0.22%
EEFT	B	0.22%
FLR	B	0.21%
JLL	D	0.2%
MUSA	A	0.2%
ABM	B	0.19%
BAH	F	0.18%
KR	B	0.17%
NTRA	B	0.17%
BOX	B	0.17%
JAZZ	B	0.16%
FOXA	B	0.14%
EXPD	D	0.14%
FN	D	0.13%
VCTR	B	0.12%
VCYT	B	0.12%
CINF	A	0.12%
CDE	D	0.11%
ILMN	D	0.1%
AEIS	B	0.07%
INCY	C	0.07%
HQY	B	0.07%
QQQ	B	0.0%
LNTH	D	0.0%
LRCX	F	0.0%
PENN	C	-0.05%
KNX	B	-0.06%
HGV	B	-0.06%
HUN	F	-0.07%
EXAS	D	-0.07%
RYN	D	-0.07%
COOP	B	-0.07%
CCS	D	-0.07%
BC	C	-0.08%
JOE	F	-0.08%
AES	F	-0.08%
FLYW	C	-0.08%
GNTX	C	-0.09%
JBLU	F	-0.09%
NSC	B	-0.1%
MCW	B	-0.1%
ABG	B	-0.1%
ACVA	B	-0.11%
ENPH	F	-0.11%
CGON	F	-0.11%
EL	F	-0.12%
RBA	A	-0.12%
FL	F	-0.12%
PCH	D	-0.12%
DLR	B	-0.13%
EXR	D	-0.13%
STLD	B	-0.13%
AVAV	D	-0.13%
ALIT	C	-0.13%
VMC	B	-0.13%
MLM	B	-0.13%
BPOP	B	-0.14%
PYCR	C	-0.14%
DAY	B	-0.14%
REXR	F	-0.14%
ARWR	F	-0.14%
MKL	A	-0.14%
AA	B	-0.14%
EQIX	A	-0.14%
CZR	F	-0.15%
COLD	D	-0.15%
APD	A	-0.15%
GTLS	B	-0.15%
CRL	C	-0.15%
RNR	C	-0.15%
DRVN	B	-0.15%
NARI	C	-0.16%
FIVN	C	-0.16%
BHF	B	-0.16%
XPO	B	-0.16%
OSK	B	-0.16%
LGIH	D	-0.16%
DAR	C	-0.16%
ALB	C	-0.16%
UHAL	D	-0.16%
AGO	B	-0.16%
EW	C	-0.16%
SITE	D	-0.16%
SW	A	-0.17%
TEX	D	-0.17%
TREX	C	-0.17%
MDGL	B	-0.17%
LKQ	D	-0.17%
MASI	A	-0.17%
KRG	B	-0.17%
ENOV	C	-0.18%
CHDN	B	-0.18%
UEC	B	-0.18%
EBC	B	-0.18%
AGCO	D	-0.18%
COTY	F	-0.18%
AL	B	-0.18%
CNH	C	-0.18%
BRKR	D	-0.18%
C	A	-0.19%
WAL	B	-0.19%
AIR	B	-0.19%
KNSL	B	-0.2%
GATX	A	-0.2%
BIRK	D	-0.2%
BE	B	-0.21%
AESI	B	-0.21%
NOG	A	-0.21%
WTM	A	-0.21%
PRCT	B	-0.22%
BANC	A	-0.22%
MTN	C	-0.22%
SAIA	B	-0.22%
SUM	B	-0.22%
EQT	B	-0.23%
PSA	D	-0.23%
XYL	D	-0.23%
WTRG	B	-0.24%
ELF	C	-0.24%
IONS	F	-0.24%
GPOR	B	-0.24%
CELH	F	-0.24%
HSY	F	-0.24%
DELL	C	-0.25%
LW	C	-0.25%
KEY	B	-0.25%
BILL	A	-0.26%
NEOG	F	-0.26%
AUR	C	-0.26%
AWK	D	-0.26%
VAL	D	-0.27%
FOUR	B	-0.27%
STNE	F	-0.27%
TEAM	A	-0.27%
MSCI	C	-0.27%
PTEN	C	-0.27%
MNST	C	-0.28%
SOFI	A	-0.28%
ESTC	C	-0.29%
MDB	C	-0.29%
XP	F	-0.29%
MKTX	D	-0.29%
CYTK	F	-0.3%
LYV	A	-0.3%
APLS	D	-0.3%
APTV	D	-0.32%
GTLB	B	-0.32%
VVV	F	-0.33%
CCOI	B	-0.33%
LPLA	A	-0.34%
ZBRA	B	-0.34%
ABNB	C	-0.34%
INSP	D	-0.34%
FCNCA	A	-0.35%
APO	B	-0.35%
AFRM	B	-0.35%
CACC	D	-0.36%
COHR	B	-0.36%
BBIO	F	-0.36%
ZI	D	-0.36%
BEN	C	-0.36%
ON	D	-0.39%
DG	F	-0.4%
SATS	D	-0.4%
BA	F	-0.4%
RBLX	C	-0.41%
DLTR	F	-0.41%
PINS	D	-0.41%
U	C	-0.41%
RIVN	F	-0.42%
TTWO	A	-0.43%
WBD	C	-0.43%
SNPS	B	-0.44%
ALGM	D	-0.45%
DV	C	-0.45%
CGNX	C	-0.45%
GE	D	-0.46%
CDNS	B	-0.46%
MRNA	F	-0.47%
SMCI	F	-0.47%
RH	B	-0.47%
CFLT	B	-0.47%
CHTR	C	-0.48%
FND	C	-0.53%
BRZE	C	-0.56%
FIVE	F	-0.56%
NWS	B	-0.57%
WST	C	-0.59%
LITE	B	-0.6%
POOL	C	-0.61%
MCHP	D	-0.63%
DXCM	D	-0.63%
WDC	D	-0.65%
LSCC	D	-0.7%
TXN	C	-0.81%
INTC	D	-0.93%
FSLR	F	-1.26%

CLSE Underweight 94 Positions Relative to SPLV

Symbol	Grade	Weight
KO	D	-1.37%
BRK.A	B	-1.31%
CL	D	-1.23%
RSG	A	-1.22%
MMC	B	-1.17%
L	A	-1.15%
MA	C	-1.13%
ADP	B	-1.11%
HON	B	-1.11%
V	A	-1.1%
NI	A	-1.09%
PPL	B	-1.09%
ITW	B	-1.09%
FI	A	-1.08%
LIN	D	-1.08%
MSI	B	-1.08%
CHD	B	-1.07%
KMI	A	-1.07%
YUM	B	-1.07%
BSX	B	-1.07%
DUK	C	-1.07%
ICE	C	-1.06%
FE	C	-1.05%
LNT	A	-1.05%
PEP	F	-1.04%
CME	A	-1.04%
LMT	D	-1.04%
EA	A	-1.03%
CMS	C	-1.03%
GD	F	-1.03%
TJX	A	-1.03%
PEG	A	-1.03%
CB	C	-1.02%
EVRG	A	-1.02%
SPGI	C	-1.01%
MDLZ	F	-1.0%
WTW	B	-1.0%
SO	D	-1.0%
ED	D	-1.0%
OKE	A	-0.99%
KMB	D	-0.99%
RTX	C	-0.99%
BK	A	-0.99%
ABT	B	-0.98%
BR	A	-0.98%
WMB	A	-0.98%
KDP	D	-0.97%
MCD	D	-0.97%
WM	A	-0.97%
SYK	C	-0.97%
WEC	A	-0.97%
EIX	B	-0.96%
HOLX	D	-0.96%
PM	B	-0.96%
STZ	D	-0.95%
AMP	A	-0.94%
OTIS	C	-0.94%
CTAS	B	-0.94%
WELL	A	-0.94%
HLT	A	-0.94%
O	D	-0.93%
CVX	A	-0.93%
VRSN	F	-0.93%
PPG	F	-0.93%
AVB	B	-0.92%
REG	B	-0.92%
NOC	D	-0.92%
VICI	C	-0.92%
AVY	D	-0.92%
BRO	B	-0.92%
PCG	A	-0.92%
HIG	B	-0.91%
AEP	D	-0.91%
ECL	D	-0.91%
ORLY	B	-0.91%
SYY	B	-0.9%
LYB	F	-0.9%
LHX	C	-0.9%
DTE	C	-0.9%
PKG	A	-0.89%
FRT	B	-0.89%
JKHY	D	-0.89%
GIS	D	-0.88%
PAYX	C	-0.87%
CSX	B	-0.85%
COST	B	-0.02%
MCK	B	-0.02%
ETR	B	-0.0%
CBOE	B	-0.0%
AFL	B	-0.0%
AIG	B	-0.0%
AME	A	-0.0%
DRI	B	-0.0%
DGX	A	-0.0%