EQTY vs. RULE ETF Comparison

Comparison of Kovitz Core Equity ETF (EQTY) to Adaptive Core ETF (RULE)

EQTY

Kovitz Core Equity ETF

EQTY Description

The Kovitz Core Equity ETF seeks long-term capital appreciation. Through our fundamental, research-driven process, we strive to build diversified portfolios of equity investments through the purchase of competitively advantaged and financially strong companies at prices substantially less than our estimate of their intrinsic values.

Grade (RS Rating)

Last Trade

$24.05

Average Daily Volume

36,471

Number of Holdings ^*

* may have additional holdings in another (foreign) market

RULE

Adaptive Core ETF

RULE Description

Adaptive Core ETF seeks current income. The fund invests in individual equity securities without regard to market capitalization and ETFs that invest in equity securities of any market capitalization including convertible equity securities and fixed income ETFs. The fund’s portfolio may hold securities from issuers of any market capitalization, credit quality, maturity, or country. Fixed income securities may include securities with credit quality below investment grade (commonly referred to as “junk bond” credit quality).

Grade (RS Rating)

Last Trade

$23.19

Average Daily Volume

5,927

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	EQTY	RULE
30 Days	1.82%	4.17%
60 Days	5.20%	5.40%
90 Days	6.52%	5.82%
12 Months	28.67%	21.04%

5 Overlapping Holdings

Symbol	Grade	Weight in EQTY	Weight in RULE	Overlap
AON	A	2.92%	3.04%	2.92%
CRM	B	3.76%	3.6%	3.6%
FI	A	3.18%	2.91%	2.91%
PCAR	B	3.13%	3.04%	3.04%
V	A	3.77%	2.95%	2.95%

EQTY Overweight 33 Positions Relative to RULE

Symbol	Grade	Weight
META	D	4.81%
AMZN	C	4.81%
SCHW	B	4.68%
GOOG	C	4.14%
BDX	F	3.98%
KEYS	A	3.93%
PM	B	3.75%
J	D	3.58%
ICE	C	3.4%
KMX	B	3.36%
LOW	C	3.16%
BRK.A	B	3.16%
AXP	A	3.02%
ORCL	A	2.96%
JPM	A	2.57%
PPG	F	2.36%
MSI	B	2.08%
AAPL	C	1.89%
DLTR	F	1.86%
ANET	C	1.84%
ADI	D	1.73%
DEO	F	1.72%
AMAT	F	1.67%
HAS	D	1.07%
AMD	F	0.94%
HAYW	B	0.65%
GOOGL	C	0.49%
MSFT	D	0.24%
SYK	B	0.13%
GGG	B	0.1%
VRSK	A	0.08%
ABT	B	0.06%
EFX	F	0.06%

EQTY Underweight 30 Positions Relative to RULE

Symbol	Grade	Weight
BIL	A	-4.27%
JPST	A	-4.26%
APO	B	-3.39%
WMB	A	-3.07%
EQIX	A	-3.05%
XLG	B	-3.04%
SPHQ	A	-3.03%
CAH	B	-3.0%
VST	A	-2.96%
INTU	B	-2.95%
IWF	B	-2.91%
BK	A	-2.88%
PH	A	-2.87%
CTAS	B	-2.84%
GWW	B	-2.82%
UBER	F	-2.8%
NFLX	A	-2.78%
PGR	A	-2.72%
HD	B	-2.7%
FTNT	C	-2.67%
RMD	C	-2.65%
FCNCA	A	-2.59%
URI	C	-2.57%
GPN	B	-2.51%
IRM	C	-2.47%
VRT	B	-2.41%
IBM	C	-2.35%
PAYX	B	-2.18%
ADBE	C	-1.94%
ARES	A	-1.81%