DFND vs. CLSE ETF Comparison

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

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

$42.05

Average Daily Volume

397

Number of Holdings ^*

* may have additional holdings in another (foreign) market

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

$21.68

Average Daily Volume

54,531

Number of Holdings ^*

326

* may have additional holdings in another (foreign) market

Performance

Period	DFND	CLSE
30 Days	10.73%	0.37%
60 Days	8.09%	3.39%
90 Days	13.54%	0.46%
12 Months	15.22%	34.65%

23 Overlapping Holdings

Symbol	Grade	Weight in DFND	Weight in CLSE	Overlap
AAPL	D	0.94%	2.26%	0.94%
ALB	F	0.88%	-0.26%	-0.26%
AVGO	C	0.84%	2.58%	0.84%
CSCO	B	1.3%	-0.27%	-0.27%
D	C	-3.05%	-0.34%	-3.05%
DVN	F	-1.16%	0.35%	-1.16%
FCX	D	-1.82%	0.38%	-1.82%
FDS	C	2.0%	-0.23%	-0.23%
HSY	C	1.53%	-0.28%	-0.28%
INTC	F	-0.85%	-0.93%	-0.93%
J	D	1.46%	0.36%	0.36%
KLAC	D	2.79%	0.47%	0.47%
LMT	C	2.19%	0.54%	0.54%
LUV	C	-1.85%	-0.21%	-1.85%
LW	D	0.91%	-0.29%	-0.29%
MCHP	D	0.1%	-0.5%	-0.5%
MPC	D	2.18%	0.74%	0.74%
MSFT	C	1.02%	1.12%	1.02%
PG	C	2.39%	0.81%	0.81%
ROK	D	1.5%	-0.08%	-0.08%
SW	B	-1.93%	-0.23%	-1.93%
T	B	-2.15%	1.03%	-2.15%
VFC	C	-0.94%	-0.12%	-0.94%

DFND Overweight 47 Positions Relative to CLSE

Symbol	Grade	Weight
V	B	2.52%
CTAS	C	2.5%
VRSK	D	2.33%
SHW	B	2.2%
MCD	C	2.19%
NDSN	C	2.18%
PHM	B	2.12%
SNA	B	2.09%
MPWR	C	2.07%
BRO	C	2.01%
GWW	B	1.94%
MCO	A	1.86%
PPG	C	1.82%
CMI	C	1.73%
DHI	B	1.72%
MSI	C	1.69%
MA	B	1.68%
AMAT	D	1.59%
ITW	B	1.59%
ALLE	B	1.51%
ETN	C	1.48%
ADI	D	1.45%
CB	B	1.42%
AON	B	1.42%
CBOE	C	1.35%
HON	D	1.31%
MMC	C	1.28%
LIN	B	1.26%
MSCI	C	1.24%
CME	C	1.22%
AOS	C	1.21%
COST	C	1.2%
HUBB	B	1.16%
CMCSA	D	1.05%
FAST	C	0.97%
GL	C	0.89%
ODFL	C	0.77%
INTU	D	0.73%
MLM	D	0.71%
BR	D	0.7%
ACN	C	0.33%
PARA	F	-0.31%
APA	F	-0.87%
NWS	D	-1.69%
IP	B	-1.98%
F	D	-2.34%
CNP	C	-2.38%

DFND Underweight 303 Positions Relative to CLSE

Symbol	Grade	Weight
NVDA	D	-4.12%
META	A	-3.15%
GOOGL	D	-2.93%
QCOM	D	-2.58%
AMZN	C	-2.5%
WMT	B	-2.07%
APP	B	-2.04%
ANET	B	-1.86%
IBM	B	-1.7%
CVLT	B	-1.64%
NTAP	D	-1.64%
GDDY	C	-1.58%
CVNA	B	-1.53%
HPE	D	-1.52%
GOOG	D	-1.22%
ORCL	B	-1.22%
DOCU	C	-1.21%
HD	B	-1.17%
ACIW	B	-1.12%
ABBV	C	-1.04%
HALO	B	-1.03%
MU	F	-1.02%
GILD	B	-0.98%
AMG	C	-0.98%
PYPL	B	-0.98%
JNJ	B	-0.96%
SNEX	C	-0.95%
OGN	D	-0.92%
JHG	B	-0.92%
NTRS	B	-0.91%
AVT	D	-0.88%
UHS	B	-0.87%
SYF	C	-0.86%
THC	B	-0.85%
AMRX	B	-0.85%
NTNX	C	-0.84%
DVA	B	-0.82%
EME	B	-0.81%
SEIC	B	-0.81%
MO	C	-0.81%
BAC	D	-0.81%
VLO	D	-0.79%
JPM	D	-0.77%
MLI	B	-0.75%
FTDR	B	-0.75%
CNC	C	-0.73%
BG	D	-0.72%
PPC	D	-0.72%
JXN	B	-0.72%
MCK	F	-0.71%
UMBF	B	-0.71%
IDCC	B	-0.7%
RF	B	-0.69%
CHRW	B	-0.66%
IIPR	B	-0.65%
IESC	C	-0.63%
OSCR	B	-0.63%
GVA	B	-0.63%
NEM	B	-0.62%
FITB	B	-0.61%
CAH	C	-0.61%
STRL	B	-0.6%
VRT	C	-0.59%
MUSA	C	-0.59%
TSLA	C	-0.59%
XOM	D	-0.58%
CFG	D	-0.57%
TSN	C	-0.57%
UNP	B	-0.57%
PATK	B	-0.55%
WFC	D	-0.55%
AMGN	B	-0.55%
PNW	B	-0.55%
PGR	A	-0.55%
NEE	B	-0.55%
MTZ	B	-0.54%
GM	B	-0.54%
PRIM	C	-0.54%
AVA	B	-0.54%
MET	A	-0.54%
NRG	C	-0.54%
SLVM	B	-0.53%
MWA	C	-0.53%
HRB	C	-0.53%
EXPE	C	-0.53%
RGA	B	-0.53%
VST	C	-0.53%
MRK	D	-0.53%
RTX	C	-0.51%
CVX	D	-0.51%
FDX	C	-0.5%
BMY	C	-0.49%
ADMA	B	-0.49%
CNA	C	-0.49%
NSA	B	-0.48%
LNTH	C	-0.46%
EEFT	D	-0.45%
EQR	B	-0.44%
RGLD	B	-0.43%
REZI	D	-0.43%
ACT	A	-0.42%
SPG	B	-0.41%
LAMR	A	-0.41%
KMB	D	-0.4%
SAIC	C	-0.4%
MRO	D	-0.39%
SCCO	D	-0.39%
LDOS	C	-0.38%
CTRE	B	-0.36%
BCO	B	-0.36%
GRMN	D	-0.35%
KNF	B	-0.35%
ABM	D	-0.34%
TOL	B	-0.34%
CAT	C	-0.33%
STAG	C	-0.33%
GLW	B	-0.32%
JLL	B	-0.32%
ALSN	B	-0.32%
ANF	D	-0.32%
NFLX	B	-0.31%
SM	D	-0.31%
VTRS	C	-0.31%
EXP	B	-0.31%
NVR	B	-0.3%
IBP	C	-0.27%
CPNG	B	-0.26%
BKNG	B	-0.25%
CCL	C	-0.24%
KR	B	-0.17%
ADUS	B	-0.15%
SPOT	B	-0.13%
ALNY	B	-0.12%
NTRA	B	-0.12%
MHO	B	-0.1%
QQQ	C	-0.0%
JOBY	F	--0.04%
CAR	F	--0.05%
CRNX	C	--0.05%
MRNA	F	--0.06%
COLD	D	--0.08%
ALIT	D	--0.08%
FOXF	F	--0.08%
AES	C	--0.08%
AGL	F	--0.09%
NXST	D	--0.09%
VAC	F	--0.1%
DRVN	C	--0.1%
HGV	D	--0.1%
WOR	F	--0.1%
AWR	B	--0.1%
WTW	B	--0.1%
MCW	F	--0.1%
VMC	D	--0.11%
HHH	C	--0.11%
CC	F	--0.11%
ACVA	B	--0.11%
DRI	C	--0.11%
TXG	D	--0.11%
VAL	F	--0.12%
AAL	D	--0.12%
PGNY	F	--0.12%
AA	D	--0.12%
CGON	C	--0.12%
BC	C	--0.13%
VSAT	F	--0.14%
PPBI	D	--0.14%
CHK	D	--0.15%
RBLX	B	--0.15%
EXR	B	--0.15%
AESI	C	--0.15%
PYCR	D	--0.15%
CG	C	--0.15%
DAY	D	--0.15%
MTN	D	--0.15%
UHAL	B	--0.16%
CLDX	C	--0.16%
PCH	C	--0.16%
WTRG	D	--0.16%
BIRK	D	--0.16%
KRG	B	--0.16%
ILMN	C	--0.16%
WAL	B	--0.16%
UEC	F	--0.17%
VNO	B	--0.17%
GTLS	F	--0.17%
SJM	C	--0.17%
ENOV	F	--0.18%
KNSL	C	--0.18%
XPO	D	--0.18%
HI	F	--0.18%
BE	F	--0.19%
BANC	B	--0.19%
CZR	C	--0.19%
FCNCA	D	--0.19%
WY	C	--0.19%
CNH	C	--0.19%
LAD	C	--0.19%
COTY	F	--0.2%
COLB	B	--0.2%
TMDX	C	--0.2%
CINF	B	--0.2%
EL	F	--0.2%
TFC	D	--0.2%
LKQ	D	--0.2%
AVAV	D	--0.2%
WOLF	F	--0.2%
AJG	C	--0.21%
GPOR	C	--0.21%
SOFI	C	--0.21%
BX	B	--0.21%
RNR	B	--0.22%
SHC	B	--0.22%
IRTC	F	--0.22%
CNX	A	--0.22%
DXCM	F	--0.22%
RBA	C	--0.22%
WBA	F	--0.22%
CIEN	C	--0.22%
AEIS	D	--0.23%
TTD	B	--0.23%
WTM	F	--0.23%
IPAR	D	--0.23%
XYL	D	--0.23%
DLTR	F	--0.23%
PTEN	F	--0.24%
SUM	C	--0.24%
BIO	C	--0.24%
OKE	B	--0.24%
AGCO	D	--0.24%
MS	D	--0.25%
VSH	D	--0.25%
WAT	C	--0.25%
AL	D	--0.26%
APD	B	--0.26%
SITE	D	--0.26%
FLYW	F	--0.26%
EQT	D	--0.26%
WSC	D	--0.26%
VVV	D	--0.27%
GT	F	--0.27%
HASI	B	--0.27%
CELH	F	--0.28%
NEOG	C	--0.29%
GMED	D	--0.29%
APLS	F	--0.29%
FIVN	F	--0.3%
MNST	C	--0.31%
O	B	--0.31%
INSP	C	--0.31%
RVMD	C	--0.32%
ENPH	C	--0.32%
PEN	D	--0.32%
REGN	C	--0.32%
FOUR	C	--0.33%
SRE	B	--0.33%
EVTC	D	--0.33%
RGEN	F	--0.33%
EXAS	C	--0.34%
IAC	C	--0.34%
TOST	B	--0.34%
LPLA	D	--0.35%
MARA	F	--0.35%
ZI	D	--0.36%
ADBE	D	--0.36%
GE	B	--0.36%
LVS	D	--0.36%
ON	D	--0.36%
KLIC	D	--0.36%
LYV	B	--0.36%
AFRM	C	--0.36%
NDAQ	B	--0.36%
WBD	D	--0.38%
RIOT	F	--0.38%
BBIO	D	--0.38%
BA	F	--0.38%
PATH	D	--0.39%
SATS	B	--0.4%
BRZE	F	--0.4%
MKTX	C	--0.4%
RIVN	F	--0.41%
CCOI	C	--0.43%
CGNX	D	--0.43%
FIVE	D	--0.45%
TTWO	D	--0.47%
ZBRA	B	--0.48%
C	D	--0.48%
GLOB	D	--0.48%
GFS	F	--0.48%
LSCC	D	--0.5%
MDB	D	--0.5%
CFLT	F	--0.5%
BILL	D	--0.5%
DV	F	--0.5%
POOL	C	--0.54%
SMCI	F	--0.55%
RH	B	--0.56%
WDC	D	--0.58%
LBRDK	D	--0.58%
FND	C	--0.59%
U	D	--0.6%
LITE	B	--0.69%
TXN	C	--0.85%