EMQQ vs. CGRO ETF Comparison

Comparison of Emerging Markets Internet and Ecommerce ETF (The) (EMQQ) to CoreValues Alpha Greater China Growth ETF (CGRO)

EMQQ

Emerging Markets Internet and Ecommerce ETF (The)

EMQQ Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of EMQQ The Emerging Markets Internet & Ecommerce IndexTM (the "Index"). The fund will normally invest at least 80% of its total assets in securities of the index or in depositary receipts representing securities of the index. The index is designed to measure the performance of an investable universe of publicly-traded, emerging market internet and ecommerce companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$36.96

Average Daily Volume

63,881

Number of Holdings ^*

* may have additional holdings in another (foreign) market

CGRO

CoreValues Alpha Greater China Growth ETF

CGRO Description

CGRO aims to benefit from high-growth sectors in Greater China without compromising American values and interests. The fund includes companies of all sizes located or primarily traded in mainland China, Taiwan, and Chinas special administrative regions, such as Hong Kong. The portfolio construction starts with top-down macro research, which utilizes publicly available data to identify sectors with the highest growth potential. The fund also conducts on-the-ground due diligence wherein it gains insights from 15 investment professionals located in China. Lastly, a fundamental bottom-up approach is used to analyze company-specific data such as financial reports and management expertise. The weight of each sector and company is determined by the sub-advisers assessment of its growth potential, which may change over time. The fund may invest in China A-shares, depositary receipts, and issuers listed on exchanges outside China.

Grade (RS Rating)

Last Trade

$22.44

Average Daily Volume

747

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	EMQQ	CGRO
30 Days	-4.00%	-6.43%
60 Days	2.16%	11.80%
90 Days	6.48%	14.69%
12 Months	21.13%	10.13%

8 Overlapping Holdings

Symbol	Grade	Weight in EMQQ	Weight in CGRO	Overlap
BABA	D	6.86%	3.58%	3.58%
BEKE	D	0.99%	4.55%	0.99%
BIDU	F	1.73%	2.08%	1.73%
BILI	D	0.42%	0.91%	0.42%
PDD	F	4.36%	9.47%	4.36%
TCOM	B	2.49%	7.4%	2.49%
TME	D	0.67%	2.54%	0.67%
YMM	C	0.5%	2.97%	0.5%

EMQQ Overweight 17 Positions Relative to CGRO

Symbol	Grade	Weight
MELI	D	7.94%
SE	B	6.9%
NU	C	5.85%
CPNG	D	3.75%
GRAB	B	1.34%
MMYT	B	0.82%
XP	F	0.76%
FUTU	D	0.56%
FRSH	C	0.35%
VIPS	F	0.34%
STNE	F	0.33%
QFIN	B	0.32%
BZ	F	0.32%
PAGS	F	0.2%
DESP	B	0.11%
MOMO	D	0.07%
IQ	F	0.07%

EMQQ Underweight 2 Positions Relative to CGRO

	Symbol	Grade	Weight
	LI	F	-1.17%
	NTES	D	-0.35%