FMCX vs. CLSE ETF Comparison

Comparison of FMC Excelsior Focus Equity ETF (FMCX) to Convergence Long/Short Equity ETF (CLSE)

FMCX

FMC Excelsior Focus Equity ETF

FMCX Description

The fund is an actively managed exchange-traded fund (?ETF?) that, during normal market conditions, seeks to invest in approximately 25-30 U.S. exchange-traded common stocks of companies that are listed on U.S. national securities exchanges and trade contemporaneously with the shares of the fund. The fund adviser may also hold concentrated positions in common stocks, although the fund?s guidelines provide that no single investment should generally be more than 10% of the fund?s portfolio at acquisition. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$30.87

Average Daily Volume

146

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

$21.94

Average Daily Volume

53,460

Number of Holdings ^*

326

* may have additional holdings in another (foreign) market

Performance

Period	FMCX	CLSE
30 Days	3.58%	2.05%
60 Days	6.98%	4.63%
90 Days	6.42%	1.81%
12 Months	25.43%	37.03%

17 Overlapping Holdings

Symbol	Grade	Weight in FMCX	Weight in CLSE	Overlap
AAPL	C	6.93%	2.26%	2.26%
AMGN	B	1.11%	0.55%	0.55%
AMZN	C	5.01%	2.5%	2.5%
BKNG	C	0.19%	0.25%	0.19%
EQR	B	0.3%	0.44%	0.3%
GDDY	C	4.98%	1.58%	1.58%
GILD	B	0.87%	0.98%	0.87%
GOOG	D	0.5%	1.22%	0.5%
GOOGL	D	1.77%	2.93%	1.77%
IAC	C	5.35%	-0.34%	-0.34%
JPM	D	0.3%	0.77%	0.3%
LBRDK	F	4.24%	-0.58%	-0.58%
MO	C	0.84%	0.81%	0.81%
MSFT	C	4.79%	1.12%	1.12%
MUSA	D	0.4%	0.59%	0.4%
PG	C	1.3%	0.81%	0.81%
PYPL	B	3.9%	0.98%	0.98%

FMCX Overweight 35 Positions Relative to CLSE

Symbol	Grade	Weight
UNH	C	6.84%
KKR	B	6.14%
LSXMK	D	4.22%
GGG	C	3.98%
MTCH	C	3.18%
LSXMA	D	1.79%
LBRDA	F	1.74%
PM	C	1.21%
YUM	D	1.18%
CMCSA	D	1.13%
MCD	B	1.12%
KEYS	C	1.06%
VUSB	A	0.92%
ICSH	A	0.92%
CL	D	0.85%
ENTG	F	0.82%
ARWR	F	0.72%
NKE	D	0.68%
HON	D	0.6%
DHR	B	0.55%
BAX	C	0.47%
YUMC	D	0.42%
SPGI	B	0.37%
MTX	D	0.33%
KEX	C	0.33%
MUR	F	0.25%
V	C	0.21%
FWONK	C	0.21%
FLWS	F	0.15%
GD	B	0.13%
BATRK	D	0.11%
PNR	B	0.1%
FWONA	C	0.05%
VMEO	C	0.03%
BATRA	D	0.02%

FMCX Underweight 309 Positions Relative to CLSE

Symbol	Grade	Weight
NVDA	D	-4.12%
META	B	-3.15%
QCOM	D	-2.58%
AVGO	C	-2.58%
WMT	C	-2.07%
APP	C	-2.04%
ANET	B	-1.86%
IBM	B	-1.7%
CVLT	B	-1.64%
NTAP	D	-1.64%
CVNA	B	-1.53%
HPE	D	-1.52%
ORCL	C	-1.22%
DOCU	C	-1.21%
HD	B	-1.17%
ACIW	B	-1.12%
ABBV	C	-1.04%
T	C	-1.03%
HALO	C	-1.03%
MU	F	-1.02%
AMG	C	-0.98%
JNJ	C	-0.96%
SNEX	B	-0.95%
OGN	D	-0.92%
JHG	B	-0.92%
NTRS	A	-0.91%
AVT	C	-0.88%
UHS	B	-0.87%
SYF	C	-0.86%
THC	A	-0.85%
AMRX	B	-0.85%
NTNX	C	-0.84%
DVA	B	-0.82%
EME	B	-0.81%
SEIC	C	-0.81%
BAC	D	-0.81%
VLO	F	-0.79%
MLI	A	-0.75%
FTDR	B	-0.75%
MPC	F	-0.74%
CNC	D	-0.73%
BG	D	-0.72%
PPC	D	-0.72%
JXN	A	-0.72%
MCK	F	-0.71%
UMBF	B	-0.71%
IDCC	B	-0.7%
RF	B	-0.69%
CHRW	B	-0.66%
IIPR	B	-0.65%
IESC	C	-0.63%
OSCR	B	-0.63%
GVA	B	-0.63%
NEM	B	-0.62%
FITB	B	-0.61%
CAH	C	-0.61%
STRL	B	-0.6%
VRT	C	-0.59%
TSLA	C	-0.59%
XOM	C	-0.58%
CFG	C	-0.57%
TSN	C	-0.57%
UNP	C	-0.57%
PATK	B	-0.55%
WFC	D	-0.55%
PNW	C	-0.55%
PGR	B	-0.55%
NEE	C	-0.55%
MTZ	B	-0.54%
LMT	C	-0.54%
GM	C	-0.54%
PRIM	B	-0.54%
AVA	C	-0.54%
MET	B	-0.54%
NRG	C	-0.54%
SLVM	B	-0.53%
MWA	B	-0.53%
HRB	C	-0.53%
EXPE	C	-0.53%
RGA	C	-0.53%
VST	C	-0.53%
MRK	D	-0.53%
RTX	C	-0.51%
CVX	D	-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	D	-0.46%
EEFT	D	-0.45%
RGLD	C	-0.43%
REZI	D	-0.43%
ACT	B	-0.42%
SPG	B	-0.41%
LAMR	B	-0.41%
KMB	D	-0.4%
SAIC	C	-0.4%
MRO	C	-0.39%
SCCO	D	-0.39%
LDOS	B	-0.38%
FCX	D	-0.38%
J	C	-0.36%
CTRE	C	-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	B	-0.33%
STAG	C	-0.33%
GLW	C	-0.32%
JLL	B	-0.32%
ALSN	B	-0.32%
ANF	D	-0.32%
NFLX	B	-0.31%
SM	F	-0.31%
VTRS	D	-0.31%
EXP	B	-0.31%
NVR	B	-0.3%
IBP	D	-0.27%
CPNG	B	-0.26%
CCL	C	-0.24%
KR	C	-0.17%
ADUS	B	-0.15%
SPOT	B	-0.13%
ALNY	C	-0.12%
NTRA	C	-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	D	--0.08%
AES	C	--0.08%
AGL	F	--0.09%
NXST	D	--0.09%
VAC	F	--0.1%
DRVN	C	--0.1%
HGV	F	--0.1%
WOR	D	--0.1%
AWR	B	--0.1%
WTW	C	--0.1%
MCW	F	--0.1%
VMC	D	--0.11%
HHH	C	--0.11%
CC	F	--0.11%
ACVA	B	--0.11%
DRI	B	--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	D	--0.15%
DAY	D	--0.15%
MTN	D	--0.15%
UHAL	A	--0.16%
CLDX	C	--0.16%
PCH	C	--0.16%
WTRG	D	--0.16%
BIRK	F	--0.16%
KRG	B	--0.16%
ILMN	C	--0.16%
WAL	B	--0.16%
UEC	D	--0.17%
VNO	B	--0.17%
GTLS	F	--0.17%
SJM	C	--0.17%
ENOV	D	--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%
CNH	D	--0.19%
LAD	D	--0.19%
COTY	F	--0.2%
COLB	B	--0.2%
TMDX	C	--0.2%
CINF	B	--0.2%
EL	F	--0.2%
TFC	C	--0.2%
LKQ	F	--0.2%
AVAV	C	--0.2%
WOLF	F	--0.2%
AJG	D	--0.21%
LUV	C	--0.21%
GPOR	D	--0.21%
SOFI	C	--0.21%
BX	B	--0.21%
RNR	C	--0.22%
SHC	C	--0.22%
IRTC	F	--0.22%
CNX	B	--0.22%
DXCM	F	--0.22%
RBA	B	--0.22%
WBA	F	--0.22%
CIEN	C	--0.22%
AEIS	D	--0.23%
TTD	B	--0.23%
WTM	D	--0.23%
SW	B	--0.23%
IPAR	F	--0.23%
XYL	C	--0.23%
DLTR	F	--0.23%
FDS	C	--0.23%
PTEN	F	--0.24%
SUM	D	--0.24%
BIO	C	--0.24%
OKE	B	--0.24%
AGCO	D	--0.24%
MS	D	--0.25%
VSH	F	--0.25%
WAT	C	--0.25%
ALB	D	--0.26%
AL	D	--0.26%
APD	B	--0.26%
SITE	C	--0.26%
FLYW	F	--0.26%
EQT	D	--0.26%
WSC	D	--0.26%
CSCO	C	--0.27%
VVV	D	--0.27%
GT	F	--0.27%
HASI	C	--0.27%
CELH	F	--0.28%
HSY	C	--0.28%
NEOG	D	--0.29%
GMED	D	--0.29%
LW	D	--0.29%
APLS	F	--0.29%
FIVN	F	--0.3%
MNST	D	--0.31%
O	C	--0.31%
INSP	C	--0.31%
RVMD	C	--0.32%
ENPH	D	--0.32%
PEN	D	--0.32%
REGN	C	--0.32%
FOUR	C	--0.33%
SRE	C	--0.33%
EVTC	D	--0.33%
RGEN	F	--0.33%
EXAS	C	--0.34%
TOST	C	--0.34%
D	C	--0.34%
LPLA	D	--0.35%
MARA	F	--0.35%
ZI	D	--0.36%
ADBE	F	--0.36%
GE	B	--0.36%
LVS	D	--0.36%
ON	D	--0.36%
KLIC	F	--0.36%
LYV	B	--0.36%
AFRM	C	--0.36%
NDAQ	A	--0.36%
WBD	D	--0.38%
RIOT	F	--0.38%
BBIO	D	--0.38%
BA	F	--0.38%
PATH	D	--0.39%
SATS	C	--0.4%
BRZE	F	--0.4%
MKTX	C	--0.4%
RIVN	F	--0.41%
CCOI	C	--0.43%
CGNX	F	--0.43%
FIVE	D	--0.45%
TTWO	C	--0.47%
ZBRA	B	--0.48%
C	C	--0.48%
GLOB	D	--0.48%
GFS	F	--0.48%
LSCC	D	--0.5%
MDB	D	--0.5%
MCHP	F	--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%
FND	C	--0.59%
U	D	--0.6%
LITE	B	--0.69%
TXN	C	--0.85%
INTC	F	--0.93%