FLAX vs. CBLS ETF Comparison

Comparison of Franklin FTSE Asia ex Japan ETF (FLAX) to Changebridge Capital Long/Short Equity ETF (CBLS)

FLAX

Franklin FTSE Asia ex Japan ETF

FLAX Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the FTSE Asia ex Japan RIC Capped Index (the FTSE Asia ex Japan Capped Index). Under normal market conditions, the fund invests at least 80% of its assets in the component securities of the FTSE Asia ex Japan Capped Index and in depositary receipts representing such securities. The FTSE Asia ex Japan Capped Index is based on the FTSE Asia ex Japan Index and is designed to measure the performance of large- and mid- capitalization stocks from developed and emerging Asian countries, excluding Japan.

Grade (RS Rating)

Last Trade

$25.54

Average Daily Volume

1,706

Number of Holdings ^*

* may have additional holdings in another (foreign) market

CBLS

Changebridge Capital Long/Short Equity ETF

CBLS Description

The investment seeks long-term capital appreciation while minimizing volatility. The Adviser also considers an assessment of a company's ESG attributes in determining the attractiveness of an investment opportunity. In general, the fund's investments are broadly invested over a number of sectors, but it may focus on the technology, consumer, and healthcare sectors. Under normal circumstances, at least 80% of the fund's net assets, plus borrowings for investment purposes, will be invested long or short in equity securities, including common stocks and depositary receipts. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$25.39

Average Daily Volume

3,916

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FLAX	CBLS
30 Days	12.80%	0.35%
60 Days	18.37%	2.67%
90 Days	9.90%	-2.43%
12 Months	30.65%	36.11%

2 Overlapping Holdings

	Symbol	Grade	Weight in FLAX	Weight in CBLS	Overlap
	BABA	A	2.61%	2.59%	2.59%
	IBN	C	0.79%	2.6%	0.79%

FLAX Overweight 31 Positions Relative to CBLS

Symbol	Grade	Weight
HDB	D	1.54%
PDD	B	1.05%
TCOM	A	0.37%
BIDU	C	0.33%
SHG	D	0.27%
KB	D	0.27%
UMC	D	0.26%
CHT	C	0.2%
YUMC	B	0.2%
LI	C	0.17%
BGNE	A	0.16%
BEKE	A	0.13%
WIT	C	0.12%
TME	B	0.11%
NIO	C	0.09%
XPEV	C	0.08%
YMM	A	0.07%
BILI	B	0.06%
BZ	C	0.06%
VIPS	B	0.06%
KEP	F	0.05%
QFIN	A	0.04%
TAL	C	0.04%
LPL	D	0.03%
RLX	D	0.02%
GDS	B	0.02%
ATHM	B	0.02%
WB	B	0.01%
DQ	C	0.01%
YY	C	0.01%
IQ	D	0.01%

FLAX Underweight 59 Positions Relative to CBLS

Symbol	Grade	Weight
STRL	B	-3.36%
LNG	A	-2.92%
SKY	C	-2.86%
CHK	C	-2.69%
SCI	D	-2.68%
BLBD	D	-2.64%
WTTR	B	-2.63%
NEM	C	-2.6%
OSW	B	-2.6%
ERJ	C	-2.59%
DELL	C	-2.58%
ETR	A	-2.53%
MMYT	B	-2.52%
BOWL	D	-2.49%
ICFI	C	-2.49%
NEE	C	-2.46%
TMDX	D	-2.43%
ASML	F	-2.42%
MGNI	D	-2.41%
ROL	C	-2.4%
SO	A	-2.38%
D	A	-2.36%
AER	C	-2.33%
AVGO	B	-2.26%
NU	D	-2.24%
WMT	A	-2.24%
ECL	C	-2.21%
UNH	B	-2.19%
COST	C	-2.18%
AMZN	C	-2.16%
MSFT	D	-2.03%
HUMA	F	-1.97%
ORCL	A	-1.94%
AMD	C	-1.93%
TDG	A	-1.54%
RTX	A	-1.5%
GD	C	-1.47%
KLAC	B	-1.29%
AFRM	C	--0.3%
VSAT	F	--0.84%
IBM	A	--0.91%
TTC	F	--0.94%
TASK	F	--0.97%
VRNT	F	--1.0%
ROK	D	--1.01%
ENR	B	--1.01%
KMT	C	--1.08%
CTVA	A	--1.1%
CHH	A	--1.1%
PAYX	B	--1.12%
BC	C	--1.14%
FIVN	F	--1.15%
MIDD	D	--1.16%
DOOO	F	--1.29%
DFS	A	--1.29%
HOG	D	--1.35%
R	C	--1.63%
GIII	C	--1.63%
DE	C	--1.69%