FLQL vs. PAPI ETF Comparison

Comparison of Franklin LibertyQ U.S. Equity ETF (FLQL) to Parametric Equity Premium Income ETF (PAPI)

FLQL

Franklin LibertyQ U.S. Equity ETF

FLQL Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the LibertyQ U.S. Large Cap Equity Index (the U.S. Large Cap underlying index). Under normal market conditions, the fund invests at least 80% of its assets in the component securities of the U.S. Large Cap underlying index. The U.S. Large Cap underlying index is based on the Russell 1000® Index using a methodology developed with Franklin Templeton to reflect Franklin Templeton's desired investment strategy.

Grade (RS Rating)

Last Trade

$59.85

Average Daily Volume

76,630

Number of Holdings ^*

210

* may have additional holdings in another (foreign) market

PAPI

Parametric Equity Premium Income ETF

PAPI Description

The fund is an actively managed exchange-traded fund. Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities. Equity securities in which the fund may invest include common stocks.

Grade (RS Rating)

Last Trade

$28.08

Average Daily Volume

33,669

Number of Holdings ^*

189

* may have additional holdings in another (foreign) market

Performance

Period	FLQL	PAPI
30 Days	2.44%	3.08%
60 Days	3.55%	3.73%
90 Days	4.50%	4.88%
12 Months	31.26%	19.25%

62 Overlapping Holdings

Symbol	Grade	Weight in FLQL	Weight in PAPI	Overlap
ABBV	D	1.33%	0.46%	0.46%
ADI	D	0.32%	0.48%	0.32%
AFL	B	0.23%	0.5%	0.23%
AMCR	D	0.09%	0.47%	0.09%
AVT	C	0.09%	0.51%	0.09%
BBY	D	0.11%	0.49%	0.11%
CHE	D	0.09%	0.49%	0.09%
CI	F	0.56%	0.47%	0.47%
CMI	A	0.26%	0.57%	0.26%
COST	B	1.7%	0.54%	0.54%
CRI	D	0.08%	0.41%	0.08%
CTSH	B	0.24%	0.53%	0.24%
DGX	A	0.1%	0.57%	0.1%
DTM	B	0.12%	0.62%	0.12%
DVN	F	0.08%	0.5%	0.08%
ELV	F	0.28%	0.43%	0.28%
EMN	D	0.1%	0.49%	0.1%
FAST	B	0.33%	0.56%	0.33%
FOX	A	0.11%	0.59%	0.11%
FOXA	B	0.11%	0.57%	0.11%
GD	F	0.39%	0.5%	0.39%
GLW	B	0.19%	0.53%	0.19%
GRMN	B	0.25%	0.65%	0.25%
HIG	B	0.19%	0.51%	0.19%
HPE	B	0.21%	0.53%	0.21%
HPQ	B	0.29%	0.52%	0.29%
IBM	C	1.31%	0.46%	0.46%
INGR	B	0.1%	0.55%	0.1%
IP	B	0.13%	0.63%	0.13%
JHG	A	0.11%	0.58%	0.11%
JNJ	D	1.55%	0.5%	0.5%
KMB	D	0.14%	0.49%	0.14%
LEN	D	0.09%	0.47%	0.09%
LEN	D	0.3%	0.47%	0.3%
LYB	F	0.16%	0.48%	0.16%
MO	A	0.85%	0.59%	0.59%
MRK	F	1.21%	0.46%	0.46%
MSFT	F	5.96%	0.53%	0.53%
MTG	C	0.09%	0.5%	0.09%
NFG	A	0.1%	0.52%	0.1%
OMC	C	0.09%	0.49%	0.09%
PEG	A	0.22%	0.52%	0.22%
PKG	A	0.15%	0.56%	0.15%
PM	B	0.71%	0.56%	0.56%
QCOM	F	1.22%	0.49%	0.49%
RGLD	C	0.1%	0.5%	0.1%
RTX	C	0.5%	0.5%	0.5%
SCCO	F	0.1%	0.0%	0.0%
SNX	C	0.09%	0.5%	0.09%
SO	D	0.29%	0.5%	0.29%
SWKS	F	0.09%	0.45%	0.09%
SYK	C	0.94%	0.57%	0.57%
T	A	1.07%	0.55%	0.55%
TJX	A	0.95%	0.54%	0.54%
TXN	C	1.24%	0.53%	0.53%
TXRH	C	0.11%	0.57%	0.11%
UNH	C	0.52%	0.55%	0.52%
VZ	C	1.24%	0.5%	0.5%
WMT	A	1.68%	0.54%	0.54%
WSO	A	0.13%	0.56%	0.13%
WU	D	0.09%	0.48%	0.09%
XOM	B	0.63%	0.52%	0.52%

FLQL Overweight 148 Positions Relative to PAPI

Symbol	Grade	Weight
AAPL	C	7.0%
NVDA	C	6.71%
AMZN	C	2.92%
META	D	2.48%
GOOGL	C	2.04%
MA	C	1.79%
AVGO	D	1.77%
GOOG	C	1.73%
LLY	F	1.31%
ISRG	A	1.3%
CAT	B	1.27%
JPM	A	1.23%
BKNG	A	1.19%
TSLA	B	1.13%
BRK.A	B	1.11%
AMGN	D	1.05%
C	A	0.97%
AMAT	F	0.96%
VRTX	F	0.92%
ORCL	B	0.88%
BSX	B	0.84%
ANET	C	0.77%
WM	A	0.67%
KLAC	D	0.67%
LRCX	F	0.66%
TT	A	0.65%
GS	A	0.6%
APH	A	0.6%
TMUS	B	0.59%
REGN	F	0.59%
MSI	B	0.58%
CMG	B	0.57%
CB	C	0.56%
MCO	B	0.56%
PH	A	0.52%
CL	D	0.52%
HCA	F	0.49%
SPG	B	0.46%
CTAS	B	0.46%
PCAR	B	0.44%
APP	B	0.42%
LMT	D	0.4%
GWW	B	0.38%
PSA	D	0.38%
URI	B	0.38%
DHI	D	0.36%
GM	B	0.35%
HLT	A	0.33%
RSG	A	0.31%
ACGL	D	0.26%
HWM	A	0.25%
MCHP	D	0.23%
SPOT	B	0.22%
PHM	D	0.22%
DECK	A	0.22%
SYF	B	0.21%
NTAP	C	0.21%
DAL	C	0.2%
FANG	D	0.2%
DELL	C	0.19%
NVR	D	0.19%
IRM	D	0.18%
LDOS	C	0.17%
FICO	B	0.17%
EBAY	D	0.17%
WAB	B	0.17%
RCL	A	0.17%
TPL	A	0.16%
ETR	B	0.16%
STLD	B	0.16%
LII	A	0.15%
CSL	C	0.15%
TSCO	D	0.15%
O	D	0.15%
WSM	B	0.15%
OC	A	0.13%
TOL	B	0.13%
RMD	C	0.13%
CFG	B	0.13%
TNL	A	0.12%
NRG	B	0.12%
EME	C	0.12%
AWI	A	0.12%
RL	B	0.12%
JEF	A	0.12%
MAS	D	0.12%
AYI	B	0.12%
EVR	B	0.12%
UTHR	C	0.12%
FIX	A	0.12%
ALSN	B	0.12%
AXS	A	0.11%
LNC	B	0.11%
BJ	A	0.11%
MUSA	A	0.11%
EXR	D	0.11%
PPC	C	0.11%
CW	B	0.11%
DPZ	C	0.11%
R	B	0.11%
LOPE	B	0.11%
CASY	A	0.11%
RGA	A	0.11%
G	B	0.11%
CF	B	0.11%
ESS	B	0.11%
THC	D	0.11%
UGI	A	0.1%
OHI	C	0.1%
ROL	B	0.1%
K	A	0.1%
CLH	B	0.1%
LAMR	D	0.1%
UHS	D	0.1%
AVB	B	0.1%
DVA	B	0.1%
ADC	B	0.1%
DKS	C	0.1%
VICI	C	0.1%
KRC	C	0.1%
KEX	C	0.1%
EHC	B	0.1%
CHRW	C	0.1%
CUZ	B	0.1%
JNPR	F	0.09%
NNN	D	0.09%
MPWR	F	0.09%
EPR	D	0.09%
PK	B	0.09%
CACI	D	0.09%
NEU	C	0.09%
GAP	C	0.09%
GPK	C	0.09%
HRB	D	0.09%
GLPI	C	0.09%
M	D	0.09%
SSNC	B	0.09%
HIW	D	0.09%
APA	D	0.08%
WING	D	0.08%
COKE	C	0.08%
CIVI	D	0.08%
MEDP	D	0.08%
TER	D	0.08%
CROX	D	0.07%
OGN	D	0.07%
CRUS	D	0.07%
MDU	D	0.07%

FLQL Underweight 128 Positions Relative to PAPI

Symbol	Grade	Weight
SNA	A	-0.63%
BKR	B	-0.62%
EMR	A	-0.61%
OKE	A	-0.61%
UNM	A	-0.61%
IDCC	A	-0.61%
PINC	B	-0.6%
CFR	B	-0.59%
TAP	C	-0.59%
EA	A	-0.59%
PB	A	-0.59%
IDA	A	-0.59%
KMI	A	-0.58%
CINF	A	-0.58%
WMB	A	-0.58%
JCI	C	-0.58%
WHR	B	-0.57%
RHI	B	-0.57%
TRV	B	-0.57%
SRE	A	-0.57%
CTRA	B	-0.57%
RF	A	-0.57%
LH	C	-0.57%
XEL	A	-0.57%
CVX	A	-0.57%
CAH	B	-0.56%
EOG	A	-0.56%
RS	B	-0.56%
TROW	B	-0.56%
COP	C	-0.56%
VLO	C	-0.55%
PPL	B	-0.55%
DCI	B	-0.55%
GGG	B	-0.55%
EVRG	A	-0.55%
OGE	B	-0.55%
GNTX	C	-0.54%
MOS	F	-0.54%
PAG	B	-0.54%
CMCSA	B	-0.54%
COR	B	-0.54%
OGS	A	-0.54%
ORI	A	-0.54%
CSCO	B	-0.54%
CHD	B	-0.54%
AFG	A	-0.54%
DRI	B	-0.54%
ADP	B	-0.54%
MTN	C	-0.54%
AEE	A	-0.54%
LHX	C	-0.53%
AM	A	-0.53%
GILD	C	-0.53%
PRU	A	-0.53%
PAYX	C	-0.53%
ATO	A	-0.53%
MSM	C	-0.53%
COLM	B	-0.53%
HP	B	-0.52%
LNT	A	-0.52%
BMI	B	-0.52%
ROP	B	-0.52%
ABT	B	-0.52%
PG	A	-0.52%
ATR	B	-0.52%
UPS	C	-0.52%
EXPD	D	-0.52%
PSX	C	-0.52%
CHRD	D	-0.52%
WEC	A	-0.52%
CME	A	-0.52%
POR	C	-0.51%
DD	D	-0.51%
CALM	A	-0.51%
DLB	B	-0.51%
DINO	D	-0.51%
FNF	B	-0.51%
APD	A	-0.51%
LKQ	D	-0.51%
OXM	D	-0.51%
MDT	D	-0.51%
CTVA	C	-0.5%
BDX	F	-0.5%
DUK	C	-0.5%
POWI	D	-0.5%
NYT	C	-0.5%
FE	C	-0.5%
ACN	C	-0.5%
CCOI	B	-0.5%
PFG	D	-0.5%
AEP	D	-0.5%
BG	F	-0.5%
D	C	-0.5%
DOX	D	-0.49%
PPG	F	-0.49%
SON	D	-0.49%
FLO	D	-0.49%
LIN	D	-0.49%
JKHY	D	-0.49%
HRL	D	-0.49%
CAG	D	-0.48%
AOS	F	-0.48%
WEN	D	-0.48%
ED	D	-0.48%
PEP	F	-0.48%
RPRX	D	-0.48%
LEA	D	-0.48%
SHOO	D	-0.47%
ADM	D	-0.47%
KDP	D	-0.46%
ASH	D	-0.46%
FMC	D	-0.46%
HAS	D	-0.46%
KHC	F	-0.46%
IPG	D	-0.45%
GPC	D	-0.45%
KO	D	-0.45%
DHR	F	-0.45%
ESNT	D	-0.45%
HUN	F	-0.44%
MAN	D	-0.44%
DOW	F	-0.44%
PFE	D	-0.44%
INSW	F	-0.44%
PII	D	-0.43%
CVI	F	-0.42%
HII	D	-0.39%
NEM	D	-0.38%