EHLS vs. IETC ETF Comparison

Comparison of Even Herd Long Short ETF (EHLS) to iShares Evolved U.S. Technology ETF (IETC)

EHLS

Even Herd Long Short ETF

EHLS Description

EHLS seeks long-term capital appreciation through a momentum-focused strategy that takes both long and short positions in US equity securities. In selecting securities, the fund employs a proprietary algorithm that emphasizes a dynamic, trend-focused analysis, instead of a strictly bottom-up valuation analysis, driven by price movements and other data points based on market trends and stock momentum. The sub-adviser may adjust its proprietary system that is continuously optimized and refined. The fund strategy involves taking long positions in equity securities exhibiting strong upward momentum and short positions in those showing downward momentum. The actively managed fund targets a net equity exposure from 40% to 90% net long, subject to adjustments based on market conditions. The fund aims to maintain 100% long and 10-60% short exposure. Short sales may include entering into swap agreements or the use of leverage.

Grade (RS Rating)

Last Trade

$23.30

Average Daily Volume

2,650

Number of Holdings ^*

271

* may have additional holdings in another (foreign) market

IETC

iShares Evolved U.S. Technology ETF

IETC Description

The investment seeks to provide access to U.S. companies with technology exposure, as classified using a proprietary classification system. The fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets in U.S. listed common stock of large-, mid- and small-capitalization technology companies. It will hold common stock of those companies that fall into the Technology Evolved Sector which have economic characteristics that have been historically correlated with companies traditionally defined as technology companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$82.22

Average Daily Volume

19,325

Number of Holdings ^*

117

* may have additional holdings in another (foreign) market

Performance

Period	EHLS	IETC
30 Days	10.27%	3.17%
60 Days	10.82%	5.58%
90 Days	13.69%	8.32%
12 Months		39.98%

19 Overlapping Holdings

Symbol	Grade	Weight in EHLS	Weight in IETC	Overlap
AKAM	D	-0.25%	0.15%	-0.25%
ANET	C	0.88%	0.62%	0.62%
CACI	D	0.42%	0.15%	0.15%
CDW	F	-0.27%	0.57%	-0.27%
CSGP	D	-0.23%	0.39%	-0.23%
DASH	A	1.05%	0.21%	0.21%
ENPH	F	-0.18%	0.02%	-0.18%
FTV	C	-0.25%	0.0%	-0.25%
IPG	D	-0.25%	0.1%	-0.25%
IRM	D	1.68%	0.1%	0.1%
META	D	1.64%	1.77%	1.64%
MSI	B	1.57%	2.42%	1.57%
NVDA	C	1.72%	8.86%	1.72%
PINS	D	-0.3%	0.14%	-0.3%
PLTR	B	1.25%	0.61%	0.61%
SLAB	D	-0.27%	0.06%	-0.27%
SLB	C	-0.29%	0.1%	-0.29%
TYL	B	0.48%	0.61%	0.48%
VRSN	F	-0.28%	2.01%	-0.28%

EHLS Overweight 252 Positions Relative to IETC

Symbol	Grade	Weight
SPOT	B	2.25%
BMA	B	2.14%
CSWI	A	2.03%
QTWO	A	1.82%
HWM	A	1.8%
GDS	C	1.71%
LMB	A	1.7%
PIPR	B	1.67%
SLG	B	1.62%
USLM	A	1.53%
CTAS	B	1.48%
HWKN	B	1.46%
GVA	A	1.41%
IGIC	B	1.33%
VST	B	1.31%
SE	B	1.3%
FICO	B	1.3%
CVNA	B	1.29%
CRS	A	1.27%
CW	B	1.26%
ADMA	B	1.26%
WELL	A	1.25%
BK	A	1.24%
TPB	B	1.24%
CEG	D	1.21%
SFM	A	1.2%
CLBT	B	1.2%
NRG	B	1.2%
SKT	B	1.14%
REAX	D	1.1%
PAM	A	1.09%
RDNT	B	1.08%
SLVM	B	1.06%
ARES	A	1.05%
FTDR	A	1.04%
TRGP	B	1.03%
TPL	A	1.02%
HOOD	B	1.01%
BRO	B	1.0%
AXP	A	1.0%
THC	D	0.98%
CBRE	B	0.98%
RSI	B	0.98%
TMUS	B	0.96%
NPAB	B	0.92%
EDN	B	0.92%
WAB	B	0.89%
JXN	C	0.87%
GLNG	C	0.86%
PNTG	D	0.84%
MOD	A	0.82%
IESC	B	0.79%
COOP	B	0.78%
SKYW	B	0.76%
CNX	A	0.76%
ISRG	A	0.76%
KKR	A	0.76%
EME	C	0.75%
BSX	B	0.71%
PSN	D	0.7%
CDNA	D	0.62%
HLNE	B	0.62%
CCB	A	0.56%
AMAL	B	0.56%
AIT	A	0.55%
ALSN	B	0.55%
NBN	B	0.54%
BBSI	B	0.54%
FTI	A	0.53%
CNK	B	0.51%
PKG	A	0.49%
TWLO	A	0.49%
VERX	B	0.49%
CLH	B	0.48%
PGR	A	0.48%
FI	A	0.48%
QFIN	B	0.47%
HUBB	B	0.46%
MMYT	B	0.46%
GRBK	D	0.46%
POWL	C	0.45%
UFPT	B	0.44%
RNA	D	0.44%
ALHC	C	0.42%
RKLB	B	0.39%
WULF	C	0.34%
YPF	B	0.32%
TCBX	A	0.3%
CEIX	A	0.3%
FRHC	B	0.28%
KTB	B	0.27%
MUSA	A	0.27%
PPTA	C	0.27%
CASH	A	0.27%
EXLS	B	0.26%
LYV	A	0.26%
SOFI	A	0.25%
MLR	B	0.25%
PEGA	A	0.25%
SNEX	B	0.25%
MATX	C	0.24%
ONON	A	0.24%
BBW	B	0.24%
GATO	D	0.23%
TRUP	B	0.23%
EXEL	B	0.23%
AORT	B	0.22%
CSTM	F	-0.07%
NEP	F	-0.09%
SPT	C	-0.14%
CVI	F	-0.15%
AMN	F	-0.16%
VSAT	F	-0.16%
AES	F	-0.17%
PGNY	F	-0.17%
STNG	F	-0.17%
APTV	D	-0.18%
WU	D	-0.18%
FLNG	B	-0.19%
W	F	-0.2%
BEN	C	-0.2%
COLD	D	-0.2%
VAL	D	-0.2%
AMRC	F	-0.2%
WRLD	C	-0.2%
ASH	D	-0.21%
ELF	C	-0.21%
DG	F	-0.21%
ADNT	F	-0.21%
WSC	D	-0.21%
ASML	F	-0.22%
IGT	F	-0.22%
ENOV	C	-0.22%
PARR	D	-0.22%
FIVE	F	-0.22%
AVTR	F	-0.22%
DOOO	F	-0.22%
LEA	D	-0.22%
MRK	F	-0.23%
ROG	D	-0.23%
DLB	B	-0.23%
NTST	D	-0.23%
APA	D	-0.23%
IMCR	D	-0.23%
NKE	D	-0.23%
TEX	D	-0.23%
ELV	F	-0.23%
MCHP	D	-0.23%
OLN	D	-0.23%
NUE	C	-0.23%
SCL	C	-0.24%
OMI	F	-0.24%
ENTG	D	-0.24%
CWT	D	-0.24%
WPC	D	-0.24%
ODP	F	-0.24%
NSP	D	-0.24%
WOR	F	-0.24%
APLS	D	-0.24%
PLD	D	-0.24%
PD	C	-0.24%
ETSY	D	-0.24%
SITE	D	-0.24%
CC	C	-0.24%
ADM	D	-0.25%
HSY	F	-0.25%
JBSS	D	-0.25%
OTEX	D	-0.25%
PCH	D	-0.25%
MTN	C	-0.25%
FUL	F	-0.25%
PEP	F	-0.25%
F	C	-0.25%
GIS	D	-0.25%
ATKR	C	-0.25%
REXR	F	-0.25%
ALV	C	-0.25%
MGM	D	-0.26%
GO	C	-0.26%
BG	F	-0.26%
THS	D	-0.26%
ARE	D	-0.26%
STZ	D	-0.26%
ALGM	D	-0.26%
IAC	D	-0.26%
CTRA	B	-0.26%
HDB	C	-0.26%
FMX	F	-0.26%
SON	D	-0.26%
CALX	D	-0.27%
DVN	F	-0.27%
COHU	C	-0.27%
HXL	D	-0.27%
ON	D	-0.27%
MTDR	B	-0.27%
CNI	D	-0.27%
CWH	B	-0.27%
YELP	C	-0.28%
ALB	C	-0.28%
OKTA	C	-0.28%
VTLE	C	-0.28%
MUR	D	-0.28%
MRTN	C	-0.28%
CRL	C	-0.28%
USPH	B	-0.28%
SJW	D	-0.28%
PZZA	D	-0.28%
CENTA	C	-0.28%
TDC	D	-0.29%
FIVN	C	-0.29%
UGI	A	-0.29%
HP	B	-0.29%
SJM	D	-0.29%
CHRD	D	-0.29%
LKQ	D	-0.29%
AMRK	F	-0.29%
AIN	C	-0.29%
MOS	F	-0.29%
URBN	C	-0.29%
CENT	C	-0.29%
TMO	F	-0.29%
SIGI	C	-0.29%
RPD	C	-0.29%
CIVI	D	-0.29%
EXC	C	-0.3%
ES	D	-0.3%
EG	C	-0.3%
SNOW	C	-0.3%
WFRD	D	-0.3%
RIO	D	-0.3%
HES	B	-0.3%
AVA	A	-0.3%
AWK	D	-0.3%
PPG	F	-0.3%
EVTC	B	-0.3%
IDXX	F	-0.3%
HELE	C	-0.3%
ACI	C	-0.3%
DIOD	D	-0.3%
KMX	B	-0.31%
OXM	D	-0.31%
ZD	C	-0.31%
IRTC	D	-0.32%
CAR	C	-0.32%
VLO	C	-0.32%
ALRM	C	-0.32%
TENB	C	-0.33%
OVV	B	-0.33%
NARI	C	-0.34%
AMR	C	-0.35%
UPS	C	-0.37%
PRGO	B	-0.44%

EHLS Underweight 98 Positions Relative to IETC

Symbol	Grade	Weight
AVGO	D	-11.53%
AMZN	C	-7.6%
MSFT	F	-7.52%
ACN	C	-4.27%
CRM	B	-3.91%
ORCL	B	-3.64%
AAPL	C	-2.45%
GOOGL	C	-2.26%
NOW	A	-2.14%
IBM	C	-2.06%
CDNS	B	-1.88%
CSCO	B	-1.85%
ICE	C	-1.64%
GOOG	C	-1.39%
QCOM	F	-1.29%
FTNT	C	-1.26%
MANH	D	-1.25%
ADBE	C	-1.15%
GPN	B	-1.14%
PH	A	-1.01%
MA	C	-0.94%
TEAM	A	-0.86%
NTAP	C	-0.84%
PANW	C	-0.83%
EQIX	A	-0.77%
ADSK	A	-0.74%
SSNC	B	-0.73%
AMD	F	-0.7%
WDAY	B	-0.69%
ABNB	C	-0.66%
TTD	B	-0.64%
VRSK	A	-0.64%
IT	C	-0.61%
ZM	B	-0.59%
MPWR	F	-0.52%
ANSS	B	-0.41%
MU	D	-0.41%
LMT	D	-0.41%
MCO	B	-0.35%
CRWD	B	-0.35%
KLAC	D	-0.34%
MSTR	C	-0.34%
G	B	-0.33%
COIN	C	-0.3%
FDS	B	-0.3%
TXN	C	-0.29%
UBER	D	-0.23%
SQ	B	-0.22%
TTEK	F	-0.21%
BAH	F	-0.2%
KEYS	A	-0.2%
SNPS	B	-0.2%
MMC	B	-0.19%
QLYS	C	-0.18%
DDOG	A	-0.18%
BSY	D	-0.17%
TRU	D	-0.17%
LRCX	F	-0.16%
HUBS	A	-0.15%
SWKS	F	-0.14%
EA	A	-0.13%
IQV	D	-0.13%
MSCI	C	-0.12%
VRT	B	-0.11%
CFLT	B	-0.1%
TER	D	-0.1%
VEEV	C	-0.1%
NDAQ	A	-0.09%
NSIT	F	-0.09%
QRVO	F	-0.07%
INTU	C	-0.07%
LPLA	A	-0.07%
ADP	B	-0.07%
SNAP	C	-0.07%
ROK	B	-0.07%
CPNG	D	-0.06%
TDY	B	-0.06%
CPAY	A	-0.06%
JNPR	F	-0.06%
BBY	D	-0.06%
DELL	C	-0.06%
CBOE	B	-0.06%
FBIN	D	-0.06%
DXC	B	-0.05%
BILL	A	-0.05%
DOCN	D	-0.05%
ILMN	D	-0.05%
SAIC	F	-0.05%
GLW	B	-0.04%
APPN	B	-0.04%
CL	D	-0.04%
MMS	F	-0.04%
GDDY	A	-0.02%
ZI	D	-0.02%
XYL	D	-0.02%
RIVN	F	-0.01%
ALGN	D	-0.0%
GRAL	C	-0.0%

IETC: Top Represented Industries & Keywords

Industries: Software - Application Business Services Semiconductors Information Technology Services Software - Infrastructure Internet Content & Information Capital Markets Semiconductor Equipment & Materials Communication Equipment Diagnostics & Research Diversified Industrials Financial Data & Stock Exchanges Scientific & Technical Instruments Computer Systems Internet Content & Information Specialty Retail Advertising Agencies Aerospace & Defense Auto Manufacturers Conglomerates