FDL vs. CLSE ETF Comparison

Comparison of First Trust Morningstar ETF (FDL) to Convergence Long/Short Equity ETF (CLSE)

FDL

First Trust Morningstar ETF

FDL Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Morningstar(R) Dividend Leaders Index(SM). The fund will normally invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the index. The objective of the index is to offer investors a benchmark for dividend portfolios as well as a means to invest in a portfolio of stocks that have a consistent record of growing dividends as well as the ability to sustain them. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$41.90

Average Daily Volume

465,760

Number of Holdings ^*

* may have additional holdings in another (foreign) market

CLSE

Convergence Long/Short Equity ETF

CLSE Description

The investment seeks long-term capital growth. The fund seeks to invest, under normal market conditions, at least 80% of its net assets (plus any borrowings for investment purposes) in long and short positions in equity securities of domestic companies. The adviser intends to maintain a net long exposure (the market value of long positions minus the market value of short positions) of approximately 50% to 100%. Under normal market conditions, the fund’s long positions may range from approximately 90% to 150% and its short positions may range from approximately 20% to 70%.

Grade (RS Rating)

Last Trade

$21.91

Average Daily Volume

54,531

Number of Holdings ^*

326

* may have additional holdings in another (foreign) market

Performance

Period	FDL	CLSE
30 Days	2.78%	0.37%
60 Days	4.59%	3.39%
90 Days	10.79%	0.46%
12 Months	25.74%	34.65%

20 Overlapping Holdings

Symbol	Grade	Weight in FDL	Weight in CLSE	Overlap
ABBV	C	8.52%	1.04%	1.04%
AVA	B	0.11%	0.54%	0.11%
CC	F	0.07%	-0.11%	-0.11%
CFG	D	0.57%	0.57%	0.57%
CNH	C	0.28%	-0.19%	-0.19%
COLB	B	0.24%	-0.2%	-0.2%
CVX	D	7.23%	0.51%	0.51%
FITB	B	0.72%	0.61%	0.61%
GILD	B	3.31%	0.98%	0.98%
IBM	B	5.12%	1.7%	1.7%
JHG	B	0.15%	0.92%	0.15%
KMB	D	1.16%	0.4%	0.4%
MO	C	5.15%	0.81%	0.81%
MTN	D	0.22%	-0.15%	-0.15%
NXST	D	0.15%	-0.09%	-0.09%
OKE	B	1.73%	-0.24%	-0.24%
PNW	B	0.31%	0.55%	0.31%
RF	B	0.69%	0.69%	0.69%
SJM	C	0.32%	-0.17%	-0.17%
TFC	D	2.09%	-0.2%	-0.2%

FDL Overweight 79 Positions Relative to CLSE

Symbol	Grade	Weight
VZ	B	8.22%
PFE	C	6.69%
PM	C	6.53%
UPS	D	2.98%
DUK	C	2.41%
USB	B	2.27%
CVS	D	2.13%
PNC	B	1.91%
KMI	A	1.59%
AEP	B	1.44%
F	D	1.38%
PRU	C	1.26%
DOW	D	1.17%
EXC	B	1.16%
KHC	C	1.02%
XEL	A	0.94%
EIX	C	0.92%
WEC	B	0.84%
LYB	F	0.84%
FANG	D	0.79%
ES	C	0.76%
ETR	A	0.73%
HBAN	B	0.68%
FE	C	0.66%
TROW	D	0.65%
STT	A	0.63%
KEY	B	0.6%
AEE	B	0.57%
BBY	B	0.56%
K	A	0.54%
CLX	C	0.5%
CAG	B	0.49%
EVRG	A	0.45%
FNF	A	0.4%
LNT	A	0.39%
SWK	B	0.37%
IPG	C	0.34%
OMF	C	0.29%
CMA	B	0.29%
HAS	B	0.28%
OGE	B	0.25%
WHR	D	0.25%
UGI	C	0.22%
FHN	D	0.22%
BEN	F	0.21%
FMC	C	0.21%
WU	D	0.2%
LNC	D	0.19%
FAF	B	0.18%
ZION	D	0.17%
SNV	C	0.17%
UBSI	B	0.15%
VLY	C	0.15%
POR	B	0.14%
SR	B	0.13%
FIBK	B	0.13%
BKH	B	0.13%
OZK	D	0.12%
NJR	B	0.12%
FLO	C	0.12%
OGS	B	0.11%
ALE	A	0.11%
NWE	A	0.11%
WEN	C	0.11%
APAM	C	0.11%
PRGO	D	0.1%
FHB	C	0.1%
PNM	B	0.1%
TNL	D	0.09%
ASB	D	0.09%
MAN	C	0.09%
MSM	D	0.09%
LCII	C	0.08%
CRI	C	0.08%
AGR	B	0.08%
CATY	B	0.07%
FHI	A	0.07%
SMG	C	0.07%
GEF	D	0.01%

FDL Underweight 306 Positions Relative to CLSE

Symbol	Grade	Weight
NVDA	D	-4.12%
META	A	-3.15%
GOOGL	D	-2.93%
QCOM	D	-2.58%
AVGO	C	-2.58%
AMZN	C	-2.5%
AAPL	D	-2.26%
WMT	B	-2.07%
APP	B	-2.04%
ANET	B	-1.86%
CVLT	B	-1.64%
NTAP	D	-1.64%
GDDY	C	-1.58%
CVNA	B	-1.53%
HPE	D	-1.52%
GOOG	D	-1.22%
ORCL	B	-1.22%
DOCU	C	-1.21%
HD	B	-1.17%
ACIW	B	-1.12%
MSFT	C	-1.12%
T	B	-1.03%
HALO	B	-1.03%
MU	F	-1.02%
AMG	C	-0.98%
PYPL	B	-0.98%
JNJ	B	-0.96%
SNEX	C	-0.95%
OGN	D	-0.92%
NTRS	B	-0.91%
AVT	D	-0.88%
UHS	B	-0.87%
SYF	C	-0.86%
THC	B	-0.85%
AMRX	B	-0.85%
NTNX	C	-0.84%
DVA	B	-0.82%
EME	B	-0.81%
SEIC	B	-0.81%
PG	C	-0.81%
BAC	D	-0.81%
VLO	D	-0.79%
JPM	D	-0.77%
MLI	B	-0.75%
FTDR	B	-0.75%
MPC	D	-0.74%
CNC	C	-0.73%
BG	D	-0.72%
PPC	D	-0.72%
JXN	B	-0.72%
MCK	F	-0.71%
UMBF	B	-0.71%
IDCC	B	-0.7%
CHRW	B	-0.66%
IIPR	B	-0.65%
IESC	C	-0.63%
OSCR	B	-0.63%
GVA	B	-0.63%
NEM	B	-0.62%
CAH	C	-0.61%
STRL	B	-0.6%
VRT	C	-0.59%
MUSA	C	-0.59%
TSLA	C	-0.59%
XOM	D	-0.58%
TSN	C	-0.57%
UNP	B	-0.57%
PATK	B	-0.55%
WFC	D	-0.55%
AMGN	B	-0.55%
PGR	A	-0.55%
NEE	B	-0.55%
MTZ	B	-0.54%
LMT	C	-0.54%
GM	B	-0.54%
PRIM	C	-0.54%
MET	A	-0.54%
NRG	C	-0.54%
SLVM	B	-0.53%
MWA	C	-0.53%
HRB	C	-0.53%
EXPE	C	-0.53%
RGA	B	-0.53%
VST	C	-0.53%
MRK	D	-0.53%
RTX	C	-0.51%
FDX	C	-0.5%
BMY	C	-0.49%
ADMA	B	-0.49%
CNA	C	-0.49%
NSA	B	-0.48%
KLAC	D	-0.47%
LNTH	C	-0.46%
EEFT	D	-0.45%
EQR	B	-0.44%
RGLD	B	-0.43%
REZI	D	-0.43%
ACT	A	-0.42%
SPG	B	-0.41%
LAMR	A	-0.41%
SAIC	C	-0.4%
MRO	D	-0.39%
SCCO	D	-0.39%
LDOS	C	-0.38%
FCX	D	-0.38%
J	D	-0.36%
CTRE	B	-0.36%
BCO	B	-0.36%
DVN	F	-0.35%
GRMN	D	-0.35%
KNF	B	-0.35%
ABM	D	-0.34%
TOL	B	-0.34%
CAT	C	-0.33%
STAG	C	-0.33%
GLW	B	-0.32%
JLL	B	-0.32%
ALSN	B	-0.32%
ANF	D	-0.32%
NFLX	B	-0.31%
SM	D	-0.31%
VTRS	C	-0.31%
EXP	B	-0.31%
NVR	B	-0.3%
IBP	C	-0.27%
CPNG	B	-0.26%
BKNG	B	-0.25%
CCL	C	-0.24%
KR	B	-0.17%
ADUS	B	-0.15%
SPOT	B	-0.13%
ALNY	B	-0.12%
NTRA	B	-0.12%
MHO	B	-0.1%
QQQ	C	-0.0%
JOBY	F	--0.04%
CAR	F	--0.05%
CRNX	C	--0.05%
MRNA	F	--0.06%
COLD	D	--0.08%
ROK	D	--0.08%
ALIT	D	--0.08%
FOXF	F	--0.08%
AES	C	--0.08%
AGL	F	--0.09%
VAC	F	--0.1%
DRVN	C	--0.1%
HGV	D	--0.1%
WOR	F	--0.1%
AWR	B	--0.1%
WTW	B	--0.1%
MCW	F	--0.1%
VMC	D	--0.11%
HHH	C	--0.11%
ACVA	B	--0.11%
DRI	C	--0.11%
TXG	D	--0.11%
VFC	C	--0.12%
VAL	F	--0.12%
AAL	D	--0.12%
PGNY	F	--0.12%
AA	D	--0.12%
CGON	C	--0.12%
BC	C	--0.13%
VSAT	F	--0.14%
PPBI	D	--0.14%
CHK	D	--0.15%
RBLX	B	--0.15%
EXR	B	--0.15%
AESI	C	--0.15%
PYCR	D	--0.15%
CG	C	--0.15%
DAY	D	--0.15%
UHAL	B	--0.16%
CLDX	C	--0.16%
PCH	C	--0.16%
WTRG	D	--0.16%
BIRK	D	--0.16%
KRG	B	--0.16%
ILMN	C	--0.16%
WAL	B	--0.16%
UEC	F	--0.17%
VNO	B	--0.17%
GTLS	F	--0.17%
ENOV	F	--0.18%
KNSL	C	--0.18%
XPO	D	--0.18%
HI	F	--0.18%
BE	F	--0.19%
BANC	B	--0.19%
CZR	C	--0.19%
FCNCA	D	--0.19%
WY	C	--0.19%
LAD	C	--0.19%
COTY	F	--0.2%
TMDX	C	--0.2%
CINF	B	--0.2%
EL	F	--0.2%
LKQ	D	--0.2%
AVAV	D	--0.2%
WOLF	F	--0.2%
AJG	C	--0.21%
LUV	C	--0.21%
GPOR	C	--0.21%
SOFI	C	--0.21%
BX	B	--0.21%
RNR	B	--0.22%
SHC	B	--0.22%
IRTC	F	--0.22%
CNX	A	--0.22%
DXCM	F	--0.22%
RBA	C	--0.22%
WBA	F	--0.22%
CIEN	C	--0.22%
AEIS	D	--0.23%
TTD	B	--0.23%
WTM	F	--0.23%
SW	B	--0.23%
IPAR	D	--0.23%
XYL	D	--0.23%
DLTR	F	--0.23%
FDS	C	--0.23%
PTEN	F	--0.24%
SUM	C	--0.24%
BIO	C	--0.24%
AGCO	D	--0.24%
MS	D	--0.25%
VSH	D	--0.25%
WAT	C	--0.25%
ALB	F	--0.26%
AL	D	--0.26%
APD	B	--0.26%
SITE	D	--0.26%
FLYW	F	--0.26%
EQT	D	--0.26%
WSC	D	--0.26%
CSCO	B	--0.27%
VVV	D	--0.27%
GT	F	--0.27%
HASI	B	--0.27%
CELH	F	--0.28%
HSY	C	--0.28%
NEOG	C	--0.29%
GMED	D	--0.29%
LW	D	--0.29%
APLS	F	--0.29%
FIVN	F	--0.3%
MNST	C	--0.31%
O	B	--0.31%
INSP	C	--0.31%
RVMD	C	--0.32%
ENPH	C	--0.32%
PEN	D	--0.32%
REGN	C	--0.32%
FOUR	C	--0.33%
SRE	B	--0.33%
EVTC	D	--0.33%
RGEN	F	--0.33%
EXAS	C	--0.34%
IAC	C	--0.34%
TOST	B	--0.34%
D	C	--0.34%
LPLA	D	--0.35%
MARA	F	--0.35%
ZI	D	--0.36%
ADBE	D	--0.36%
GE	B	--0.36%
LVS	D	--0.36%
ON	D	--0.36%
KLIC	D	--0.36%
LYV	B	--0.36%
AFRM	C	--0.36%
NDAQ	B	--0.36%
WBD	D	--0.38%
RIOT	F	--0.38%
BBIO	D	--0.38%
BA	F	--0.38%
PATH	D	--0.39%
SATS	B	--0.4%
BRZE	F	--0.4%
MKTX	C	--0.4%
RIVN	F	--0.41%
CCOI	C	--0.43%
CGNX	D	--0.43%
FIVE	D	--0.45%
TTWO	D	--0.47%
ZBRA	B	--0.48%
C	D	--0.48%
GLOB	D	--0.48%
GFS	F	--0.48%
LSCC	D	--0.5%
MDB	D	--0.5%
MCHP	D	--0.5%
CFLT	F	--0.5%
BILL	D	--0.5%
DV	F	--0.5%
POOL	C	--0.54%
SMCI	F	--0.55%
RH	B	--0.56%
WDC	D	--0.58%
LBRDK	D	--0.58%
FND	C	--0.59%
U	D	--0.6%
LITE	B	--0.69%
TXN	C	--0.85%
INTC	F	--0.93%