EHLS vs. PFI ETF Comparison

Comparison of Even Herd Long Short ETF (EHLS) to PowerShares Dynamic Financial (PFI)

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

PFI

PowerShares Dynamic Financial

PFI Description

The PowerShares Dynamic Financial Sector Portfolio (Fund) is based on the Dynamic Financial Sector IntellidexSM Index (Intellidex Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Intellidex Index thoroughly evaluates companies based on a variety of investment merit criteria, including: price momentum, earnings momentum, quality, management action, and value. The Underlying Intellidex Index is comprised of common stocks of 60 US financial services companies. These are companies that are principally engaged in the business of providing services and products, including banking, investment services, insurance and real estate finance services. The Fund and the Index are rebalanced and reconstituted quarterly in February, May, August and November.

Grade (RS Rating)

Last Trade

$63.14

Average Daily Volume

6,473

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	EHLS	PFI
30 Days	10.27%	12.13%
60 Days	10.82%	13.64%
90 Days	13.69%	17.59%
12 Months		50.72%

11 Overlapping Holdings

Symbol	Grade	Weight in EHLS	Weight in PFI	Overlap
ARES	A	1.05%	4.16%	1.05%
AXP	A	1.0%	2.54%	1.0%
BRO	B	1.0%	2.54%	1.0%
COOP	B	0.78%	2.38%	0.78%
HLNE	B	0.62%	1.58%	0.62%
HOOD	B	1.01%	2.99%	1.01%
JXN	C	0.87%	1.74%	0.87%
KKR	A	0.76%	3.74%	0.76%
PGR	A	0.48%	2.06%	0.48%
PIPR	B	1.67%	2.08%	1.67%
SLG	B	1.62%	1.54%	1.54%

EHLS Overweight 260 Positions Relative to PFI

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%
LMB	A	1.7%
IRM	D	1.68%
META	D	1.64%
MSI	B	1.57%
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%
PLTR	B	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%
DASH	A	1.05%
FTDR	A	1.04%
TRGP	B	1.03%
TPL	A	1.02%
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%
GLNG	C	0.86%
PNTG	D	0.84%
MOD	A	0.82%
IESC	B	0.79%
SKYW	B	0.76%
CNX	A	0.76%
ISRG	A	0.76%
EME	C	0.75%
BSX	B	0.71%
PSN	D	0.7%
CDNA	D	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%
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%
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%
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%
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%
SLB	C	-0.29%
TMO	F	-0.29%
SIGI	C	-0.29%
RPD	C	-0.29%
CIVI	D	-0.29%
EXC	C	-0.3%
PINS	D	-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 29 Positions Relative to PFI

Symbol	Grade	Weight
MA	C	-5.06%
AMP	A	-4.56%
JPM	A	-3.65%
V	A	-3.27%
FCNCA	A	-2.87%
EVR	B	-2.81%
WAL	B	-2.68%
JEF	A	-2.59%
KNSL	B	-2.38%
MMC	B	-2.3%
AFL	B	-2.15%
WRB	A	-2.11%
PRI	A	-2.07%
SPG	B	-2.0%
HLI	B	-1.95%
ICE	C	-1.85%
ACGL	D	-1.77%
SFBS	B	-1.67%
VCTR	B	-1.55%
BGC	C	-1.54%
ENVA	B	-1.48%
MTG	C	-1.35%
BPOP	B	-1.24%
OFG	B	-1.21%
RDFN	D	-1.19%
ERIE	D	-1.16%
NMRK	B	-1.05%
TREE	F	-0.95%
UWMC	D	-0.75%