COWS vs. MGMT ETF Comparison

Comparison of Amplify Cash Flow Dividend Leaders ETF (COWS) to Ballast Small/Mid Cap ETF (MGMT)

COWS

Amplify Cash Flow Dividend Leaders ETF

COWS Description

COWS is an index tracking fund utilizing a replication strategy. The index strategy aims to invest in US stocks of companies perceived to be stable and pay dividends. The starting investment universe considers the 1000 most liquid US-listed companies, excluding the financial sector. Filtering this universe, the 100 highest ranked free cash flow yielding stocks, as measured by equally weighting the stocks average trailing and forward cash flow yield. Companies with no forward estimates for free cash flow yields or earnings are removed. The investment universe is then filtered to identify dividend paying stocks with three years of uninterrupted dividend growth. Stocks with a payout ratio greater than 75% are eliminated. The top 10% of dividend yielding stocks are selected for the index. This process results in 40-100 stocks being selected and initially equally weighted in the index. Industry exposure is capped at 24%. Index holdings are reconstituted and rebalanced on a quarterly basis.

Grade (RS Rating)

Last Trade

$31.13

Average Daily Volume

6,640

Number of Holdings ^*

* may have additional holdings in another (foreign) market

MGMT

Ballast Small/Mid Cap ETF

MGMT Description

The investment seeks to generate positive risk adjusted returns. Under normal circumstances, the fund invests at least 80% of the value of its net assets (plus borrowings for investment purposes) in equity securities (principally common stocks) of domestic companies with small to medium market capitalizations. It may also invest all or substantially all of its assets in cash and cash equivalents, including money market funds and other short-term fixed income investments, in seeking to protect principal, or when, in the Adviser's opinion, there are not sufficient companies appropriate for investment.

Grade (RS Rating)

Last Trade

$43.17

Average Daily Volume

12,240

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	COWS	MGMT
30 Days	3.26%	9.10%
60 Days	5.30%	9.61%
90 Days	7.41%	15.06%
12 Months	26.11%	23.18%

3 Overlapping Holdings

Symbol	Grade	Weight in COWS	Weight in MGMT	Overlap
BWA	D	1.37%	1.5%	1.37%
G	B	2.68%	1.58%	1.58%
TKR	F	2.13%	0.89%	0.89%

COWS Overweight 50 Positions Relative to MGMT

Symbol	Grade	Weight
VST	A	4.0%
SNA	B	2.95%
OC	A	2.76%
CMCSA	B	2.56%
MRO	A	2.49%
CF	A	2.48%
SLB	C	2.48%
HAL	C	2.43%
BC	F	2.42%
FNF	D	2.35%
FDX	B	2.31%
EBAY	D	2.3%
TPR	B	2.21%
WSM	C	2.17%
BMY	B	2.07%
ALSN	B	2.03%
PARA	D	2.02%
SM	C	2.02%
PVH	D	1.95%
PTEN	C	1.93%
VLO	C	1.89%
NXST	D	1.86%
SWKS	F	1.84%
BEN	C	1.8%
BBWI	C	1.75%
NOV	C	1.74%
PR	B	1.74%
MGY	A	1.73%
MUR	D	1.72%
MTDR	B	1.67%
GAP	D	1.67%
ASO	F	1.63%
T	A	1.6%
MCK	A	1.48%
DVN	F	1.48%
VNT	C	1.46%
OLN	F	1.45%
TMUS	B	1.43%
DNB	A	1.43%
AYI	B	1.4%
CSCO	B	1.34%
AEO	F	1.33%
LEA	F	1.33%
RL	C	1.29%
OGN	F	1.29%
OSK	C	1.27%
INGR	B	1.25%
IPG	D	1.23%
SAIC	F	1.19%
ENS	D	1.12%

COWS Underweight 41 Positions Relative to MGMT

Symbol	Grade	Weight
NRP	B	-5.38%
AGM	B	-3.65%
CVCO	A	-3.49%
PHIN	A	-3.41%
IGIC	B	-3.36%
EXP	B	-2.96%
CEIX	B	-2.89%
TPB	A	-2.75%
MTG	C	-2.69%
AZZ	A	-2.66%
CBNK	B	-2.64%
BELFB	D	-2.51%
CASS	B	-2.36%
GEO	A	-2.22%
LSTR	D	-2.14%
IMXI	B	-2.11%
PATK	C	-2.03%
TDC	D	-1.98%
BLCO	C	-1.96%
LII	A	-1.94%
ECVT	C	-1.87%
BCO	F	-1.54%
EPR	D	-1.53%
RCMT	C	-1.46%
KOS	D	-1.38%
KN	B	-1.28%
CMPO	B	-1.25%
TRIP	F	-1.23%
GSM	C	-1.22%
IPGP	D	-1.13%
EPSN	A	-1.12%
IMKTA	C	-1.06%
BIOX	F	-1.05%
IRMD	B	-1.03%
EXTR	C	-1.02%
GPRE	F	-0.97%
CRMT	F	-0.96%
NTIC	C	-0.9%
DOX	D	-0.9%
UFPT	C	-0.89%
RMNI	C	-0.41%