EHLS vs. IFRA ETF Comparison

Comparison of Even Herd Long Short ETF (EHLS) to iShares U.S. Infrastructure ETF (IFRA)

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

IFRA

iShares U.S. Infrastructure ETF

IFRA Description

The investment seeks to track the investment results of the NYSE® FactSet U.S. Infrastructure Index (the "underlying index"), an index composed of equities of U.S. companies that have infrastructure exposure and that could benefit from a potential increase in domestic infrastructure activities. The fund generally will invest at least 90% of its assets in the component securities of the underlying index. The index is designed to measure the performance of equity securities of U.S. companies involved in U.S. focused infrastructure activities. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$51.22

Average Daily Volume

310,420

Number of Holdings ^*

150

* may have additional holdings in another (foreign) market

Performance

Period	EHLS	IFRA
30 Days	10.27%	8.33%
60 Days	10.82%	9.82%
90 Days	13.69%	13.63%
12 Months		39.72%

19 Overlapping Holdings

Symbol	Grade	Weight in EHLS	Weight in IFRA	Overlap
AVA	A	-0.3%	0.63%	-0.3%
AWK	D	-0.3%	0.6%	-0.3%
CEG	D	1.21%	0.85%	0.85%
CRS	A	1.27%	0.64%	0.64%
CWT	D	-0.24%	0.61%	-0.24%
EME	C	0.75%	0.7%	0.7%
ES	D	-0.3%	0.6%	-0.3%
EXC	C	-0.3%	0.65%	-0.3%
GVA	A	1.41%	0.66%	0.66%
HWKN	B	1.46%	0.53%	0.53%
LMB	A	1.7%	0.72%	0.72%
NRG	B	1.2%	0.79%	0.79%
NUE	C	-0.23%	0.52%	-0.23%
OLN	D	-0.23%	0.5%	-0.23%
SJW	D	-0.28%	0.6%	-0.28%
TEX	D	-0.23%	0.52%	-0.23%
USLM	A	1.53%	0.91%	0.91%
VST	B	1.31%	1.23%	1.23%
WOR	F	-0.24%	0.47%	-0.24%

EHLS Overweight 252 Positions Relative to IFRA

Symbol	Grade	Weight
SPOT	B	2.25%
BMA	B	2.14%
CSWI	A	2.03%
QTWO	A	1.82%
HWM	A	1.8%
NVDA	C	1.72%
GDS	C	1.71%
IRM	D	1.68%
PIPR	B	1.67%
META	D	1.64%
SLG	B	1.62%
MSI	B	1.57%
CTAS	B	1.48%
IGIC	B	1.33%
SE	B	1.3%
FICO	B	1.3%
CVNA	B	1.29%
CW	B	1.26%
ADMA	B	1.26%
WELL	A	1.25%
PLTR	B	1.25%
BK	A	1.24%
TPB	B	1.24%
SFM	A	1.2%
CLBT	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%
DASH	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%
ANET	C	0.88%
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%
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%
TYL	B	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%
CACI	D	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%
ENPH	F	-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%
CSGP	D	-0.23%
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%
ELV	F	-0.23%
MCHP	D	-0.23%
SCL	C	-0.24%
OMI	F	-0.24%
ENTG	D	-0.24%
WPC	D	-0.24%
ODP	F	-0.24%
NSP	D	-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%
AKAM	D	-0.25%
OTEX	D	-0.25%
FTV	C	-0.25%
PCH	D	-0.25%
IPG	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%
SLAB	D	-0.27%
CNI	D	-0.27%
CWH	B	-0.27%
CDW	F	-0.27%
YELP	C	-0.28%
ALB	C	-0.28%
OKTA	C	-0.28%
VTLE	C	-0.28%
MUR	D	-0.28%
VRSN	F	-0.28%
MRTN	C	-0.28%
CRL	C	-0.28%
USPH	B	-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%
SLB	C	-0.29%
TMO	F	-0.29%
SIGI	C	-0.29%
RPD	C	-0.29%
CIVI	D	-0.29%
PINS	D	-0.3%
EG	C	-0.3%
SNOW	C	-0.3%
WFRD	D	-0.3%
RIO	D	-0.3%
HES	B	-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 131 Positions Relative to IFRA

Symbol	Grade	Weight
DTM	B	-0.87%
CENX	B	-0.86%
KNTK	B	-0.85%
MYRG	B	-0.84%
STRL	B	-0.83%
KMI	A	-0.83%
AGX	B	-0.82%
WMB	A	-0.82%
MGEE	C	-0.8%
PRIM	A	-0.8%
ETR	B	-0.79%
OKE	A	-0.78%
ROAD	A	-0.77%
IDA	A	-0.74%
TXNM	A	-0.73%
ENLC	A	-0.72%
XEL	A	-0.72%
FIX	A	-0.72%
CNP	B	-0.72%
SRE	A	-0.72%
ATO	A	-0.72%
AEE	A	-0.71%
OGS	A	-0.71%
CMP	C	-0.71%
NI	A	-0.71%
GBX	A	-0.71%
PEG	A	-0.71%
MSEX	B	-0.7%
CPK	A	-0.7%
MTZ	B	-0.7%
CSX	B	-0.7%
PCG	A	-0.69%
BKH	A	-0.69%
EVRG	A	-0.69%
OGE	B	-0.69%
AM	A	-0.69%
NSC	B	-0.69%
AWR	B	-0.68%
HEES	B	-0.68%
MLI	C	-0.68%
MTRX	B	-0.68%
PNW	B	-0.68%
PPL	B	-0.68%
NWN	A	-0.68%
LXFR	C	-0.68%
LNT	A	-0.67%
ALE	A	-0.67%
GLDD	B	-0.67%
RYI	C	-0.67%
SUM	B	-0.67%
WEC	A	-0.67%
SR	A	-0.66%
APOG	B	-0.66%
AGR	B	-0.66%
UTL	B	-0.66%
NWE	B	-0.66%
D	C	-0.65%
BXC	B	-0.65%
WTRG	B	-0.65%
PWR	A	-0.65%
CMS	C	-0.65%
DTE	C	-0.64%
SO	D	-0.64%
NWPX	A	-0.64%
AWI	A	-0.63%
POR	C	-0.63%
EXP	A	-0.63%
KNF	A	-0.63%
TPC	C	-0.63%
VMI	B	-0.63%
NGVT	B	-0.63%
STLD	B	-0.62%
OC	A	-0.62%
NEE	D	-0.62%
URI	B	-0.62%
UNP	C	-0.62%
EIX	B	-0.62%
DUK	C	-0.62%
FE	C	-0.61%
ECVT	C	-0.61%
ASTE	B	-0.61%
ARTNA	D	-0.61%
YORW	D	-0.61%
TRN	C	-0.6%
AEP	D	-0.6%
VMC	B	-0.6%
LPX	B	-0.6%
ED	D	-0.6%
CMC	B	-0.59%
KALU	C	-0.59%
LXU	B	-0.59%
HE	C	-0.59%
X	C	-0.58%
MLM	B	-0.58%
TREX	C	-0.57%
OSK	B	-0.57%
FLR	B	-0.57%
CSL	C	-0.56%
BCC	B	-0.56%
RS	B	-0.56%
AZEK	A	-0.56%
ACM	A	-0.56%
ASIX	A	-0.55%
APG	B	-0.55%
SWX	B	-0.55%
ROCK	C	-0.54%
NFE	D	-0.54%
SSD	D	-0.53%
BWMN	C	-0.53%
BLDR	D	-0.53%
XPEL	C	-0.53%
ZEUS	C	-0.52%
POOL	C	-0.52%
KOP	C	-0.51%
EMN	D	-0.51%
AESI	B	-0.5%
CLF	F	-0.5%
BLD	D	-0.5%
NVEE	F	-0.5%
HAYN	C	-0.5%
MTUS	C	-0.49%
J	F	-0.49%
IIIN	C	-0.48%
ATI	D	-0.48%
WMS	D	-0.46%
WLK	D	-0.46%
LYB	F	-0.44%
MDU	D	-0.36%
MATV	D	-0.33%
NVRI	F	-0.33%
TTEK	F	-0.09%