EHLS vs. SPDW ETF Comparison

Comparison of Even Herd Long Short ETF (EHLS) to SPDR Portfolio World ex-US ETF (SPDW)

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

$23.12

Average Daily Volume

2,612

Number of Holdings ^*

271

* may have additional holdings in another (foreign) market

SPDW

SPDR Portfolio World ex-US ETF

SPDW Description

The investment seeks investment results that, before fees and expenses, correspond generally to the total return performance of the S&P Developed Ex-U.S.BMI Index. The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index and in depositary receipts based on securities comprising the index. The index is a market capitalization weighted index designed to define and measure the investable universe of publicly traded companies domiciled in developed countries outside the United States. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$35.15

Average Daily Volume

2,162,564

Number of Holdings ^*

108

* may have additional holdings in another (foreign) market

Performance

Period	EHLS	SPDW
30 Days	8.97%	-3.22%
60 Days	10.38%	-4.95%
90 Days	12.83%	-5.36%
12 Months		11.79%

10 Overlapping Holdings

Symbol	Grade	Weight in EHLS	Weight in SPDW	Overlap
CALX	D	-0.27%	0.0%	-0.27%
CNI	F	-0.27%	0.3%	-0.27%
CSTM	F	-0.07%	0.0%	-0.07%
GLNG	C	0.86%	0.03%	0.03%
IGT	F	-0.22%	0.01%	-0.22%
IMCR	D	-0.23%	0.01%	-0.23%
ONON	A	0.24%	0.06%	0.06%
OTEX	F	-0.25%	0.03%	-0.25%
SE	A	1.3%	0.17%	0.17%
SPOT	B	2.25%	0.28%	0.28%

EHLS Overweight 261 Positions Relative to SPDW

Symbol	Grade	Weight
BMA	C	2.14%
CSWI	B	2.03%
QTWO	A	1.82%
HWM	A	1.8%
NVDA	B	1.72%
GDS	C	1.71%
LMB	B	1.7%
IRM	C	1.68%
PIPR	A	1.67%
META	D	1.64%
SLG	B	1.62%
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	A	1.31%
FICO	B	1.3%
CVNA	B	1.29%
CRS	B	1.27%
CW	C	1.26%
ADMA	B	1.26%
WELL	A	1.25%
PLTR	B	1.25%
BK	A	1.24%
TPB	B	1.24%
CEG	C	1.21%
SFM	A	1.2%
CLBT	B	1.2%
NRG	B	1.2%
SKT	A	1.14%
REAX	D	1.1%
PAM	A	1.09%
RDNT	B	1.08%
SLVM	B	1.06%
ARES	A	1.05%
DASH	B	1.05%
FTDR	B	1.04%
TRGP	A	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	A	0.98%
TMUS	B	0.96%
NPAB	F	0.92%
EDN	B	0.92%
WAB	B	0.89%
ANET	C	0.88%
JXN	C	0.87%
PNTG	D	0.84%
MOD	A	0.82%
IESC	C	0.79%
COOP	B	0.78%
SKYW	C	0.76%
CNX	A	0.76%
ISRG	A	0.76%
KKR	A	0.76%
EME	A	0.75%
BSX	A	0.71%
PSN	D	0.7%
CDNA	D	0.62%
HLNE	B	0.62%
CCB	A	0.56%
AMAL	B	0.56%
AIT	B	0.55%
ALSN	B	0.55%
NBN	C	0.54%
BBSI	B	0.54%
FTI	A	0.53%
CNK	C	0.51%
PKG	A	0.49%
TWLO	A	0.49%
VERX	A	0.49%
CLH	C	0.48%
PGR	A	0.48%
FI	A	0.48%
TYL	B	0.48%
QFIN	A	0.47%
HUBB	B	0.46%
MMYT	B	0.46%
GRBK	D	0.46%
POWL	C	0.45%
UFPT	C	0.44%
RNA	C	0.44%
ALHC	C	0.42%
CACI	D	0.42%
RKLB	A	0.39%
WULF	C	0.34%
YPF	B	0.32%
TCBX	B	0.3%
CEIX	A	0.3%
FRHC	B	0.28%
KTB	B	0.27%
MUSA	B	0.27%
PPTA	C	0.27%
CASH	B	0.27%
EXLS	B	0.26%
LYV	A	0.26%
SOFI	B	0.25%
MLR	C	0.25%
PEGA	B	0.25%
SNEX	B	0.25%
MATX	C	0.24%
BBW	C	0.24%
GATO	C	0.23%
TRUP	B	0.23%
EXEL	B	0.23%
AORT	B	0.22%
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	F	-0.18%
ENPH	F	-0.18%
WU	F	-0.18%
FLNG	C	-0.19%
W	D	-0.2%
BEN	C	-0.2%
COLD	D	-0.2%
VAL	F	-0.2%
AMRC	F	-0.2%
WRLD	C	-0.2%
ASH	F	-0.21%
ELF	C	-0.21%
DG	F	-0.21%
ADNT	F	-0.21%
WSC	F	-0.21%
ASML	F	-0.22%
ENOV	C	-0.22%
PARR	F	-0.22%
FIVE	F	-0.22%
AVTR	F	-0.22%
DOOO	F	-0.22%
LEA	F	-0.22%
CSGP	D	-0.23%
MRK	D	-0.23%
ROG	D	-0.23%
DLB	B	-0.23%
NTST	C	-0.23%
APA	D	-0.23%
NKE	F	-0.23%
TEX	F	-0.23%
ELV	F	-0.23%
MCHP	F	-0.23%
OLN	F	-0.23%
NUE	C	-0.23%
SCL	C	-0.24%
OMI	F	-0.24%
ENTG	D	-0.24%
CWT	C	-0.24%
WPC	C	-0.24%
ODP	F	-0.24%
NSP	F	-0.24%
WOR	F	-0.24%
APLS	F	-0.24%
PLD	F	-0.24%
PD	C	-0.24%
ETSY	D	-0.24%
SITE	F	-0.24%
CC	C	-0.24%
ADM	D	-0.25%
HSY	F	-0.25%
JBSS	F	-0.25%
AKAM	D	-0.25%
FTV	C	-0.25%
PCH	F	-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	D	-0.25%
REXR	F	-0.25%
ALV	C	-0.25%
MGM	D	-0.26%
GO	C	-0.26%
BG	D	-0.26%
THS	D	-0.26%
ARE	F	-0.26%
STZ	D	-0.26%
ALGM	D	-0.26%
IAC	F	-0.26%
CTRA	B	-0.26%
HDB	C	-0.26%
FMX	F	-0.26%
SON	F	-0.26%
DVN	F	-0.27%
COHU	C	-0.27%
HXL	F	-0.27%
ON	D	-0.27%
MTDR	B	-0.27%
SLAB	F	-0.27%
CWH	B	-0.27%
CDW	F	-0.27%
YELP	C	-0.28%
ALB	B	-0.28%
OKTA	C	-0.28%
VTLE	C	-0.28%
MUR	D	-0.28%
VRSN	C	-0.28%
MRTN	D	-0.28%
CRL	D	-0.28%
USPH	B	-0.28%
SJW	F	-0.28%
PZZA	F	-0.28%
CENTA	C	-0.28%
TDC	D	-0.29%
FIVN	C	-0.29%
UGI	C	-0.29%
HP	C	-0.29%
SJM	D	-0.29%
CHRD	D	-0.29%
LKQ	F	-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	B	-0.29%
CIVI	D	-0.29%
EXC	C	-0.3%
PINS	F	-0.3%
ES	C	-0.3%
EG	C	-0.3%
SNOW	B	-0.3%
WFRD	D	-0.3%
RIO	D	-0.3%
HES	B	-0.3%
AVA	A	-0.3%
AWK	C	-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	F	-0.31%
ZD	B	-0.31%
IRTC	C	-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	C	-0.44%

EHLS Underweight 98 Positions Relative to SPDW

Symbol	Grade	Weight
TM	F	-0.9%
NVS	F	-0.88%
HSBH	B	-0.73%
UL	D	-0.63%
MUFG	B	-0.61%
SHOP	B	-0.57%
SONY	B	-0.5%
TD	D	-0.44%
ABBV	F	-0.4%
SMFG	B	-0.39%
DEO	F	-0.28%
MFG	A	-0.24%
LYG	D	-0.21%
BCS	A	-0.2%
WCN	A	-0.2%
HMC	F	-0.19%
E	F	-0.15%
KB	B	-0.13%
STLA	F	-0.12%
CPNG	D	-0.11%
CHKP	C	-0.1%
SHG	C	-0.09%
TEVA	C	-0.08%
NMR	B	-0.08%
CCEP	C	-0.08%
CYBR	A	-0.08%
PKX	D	-0.08%
ICLR	D	-0.07%
MT	B	-0.06%
LOGI	D	-0.06%
ARM	F	-0.06%
XRX	F	-0.06%
GRAB	A	-0.05%
WIX	A	-0.04%
MNDY	C	-0.04%
QGEN	D	-0.04%
FUTU	D	-0.03%
KEP	B	-0.03%
AGCO	D	-0.03%
GSL	F	-0.03%
AER	A	-0.03%
BNTX	C	-0.03%
ZIM	C	-0.02%
ASND	F	-0.02%
AEI	D	-0.02%
MBAVU	C	-0.02%
XENE	D	-0.02%
WFG	C	-0.02%
MRUS	F	-0.02%
KRNT	B	-0.02%
NAT	F	-0.01%
FVRR	B	-0.01%
MLCO	F	-0.01%
URGN	F	-0.01%
LSPD	C	-0.01%
LPL	D	-0.01%
DAVA	C	-0.01%
AY	A	-0.01%
GLBE	B	-0.01%
LPL	D	-0.01%
GRFS	C	-0.01%
NOMD	D	-0.01%
TAC	A	-0.01%
BIRK	D	-0.01%
MTLS	A	-0.0%
RENB	F	-0.0%
HL	D	-0.0%
TLRY	F	-0.0%
CVAC	F	-0.0%
ORMP	D	-0.0%
AMRN	F	-0.0%
GRVY	C	-0.0%
ADAP	F	-0.0%
EU	D	-0.0%
TMC	F	-0.0%
FREY	B	-0.0%
MNTX	B	-0.0%
INVZ	F	-0.0%
NNOX	C	-0.0%
NBTX	F	-0.0%
NNDM	D	-0.0%
DNN	B	-0.0%
GSM	D	-0.0%
SNDL	D	-0.0%
CHGX	A	-0.0%
ABCL	D	-0.0%
SPNS	F	-0.0%
IMTX	F	-0.0%
JMIA	F	-0.0%
ELBM	D	-0.0%
PIXY	F	-0.0%
SSYS	B	-0.0%
CSIQ	F	-0.0%
AUPH	B	-0.0%
RDWR	B	-0.0%
PDS	C	-0.0%
HCM	D	-0.0%
INMD	C	-0.0%