FMCX vs. XTL ETF Comparison

Comparison of FMC Excelsior Focus Equity ETF (FMCX) to SPDR S&P Telecom ETF (XTL)

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

$28.94

Average Daily Volume

334

Number of Holdings ^*

* may have additional holdings in another (foreign) market

XTL

SPDR S&P Telecom ETF

XTL Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index derived from the telecommunications segment of a U.S. total market composite index. In seeking to track the performance of the S&P Telecom Select Industry Index (the "index"), the fund employs a replication strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the telecommunications industry group of the S&P Total Market Index ("S&P TMI"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$78.06

Average Daily Volume

4,686

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FMCX	XTL
30 Days	2.25%	0.82%
60 Days	3.22%	10.99%
90 Days	1.28%	9.69%
12 Months	17.70%	3.01%

0 Overlapping Holdings

	Symbol	Grade	Weight in FMCX	Weight in XTL	Overlap

FMCX Overweight 52 Positions Relative to XTL

Symbol	Grade	Weight
AAPL	A	6.93%
UNH	D	6.84%
KKR	C	6.14%
IAC	F	5.35%
AMZN	A	5.01%
GDDY	A	4.98%
MSFT	A	4.79%
LBRDK	C	4.24%
LSXMK	C	4.22%
GGG	D	3.98%
PYPL	D	3.9%
MTCH	F	3.18%
LSXMA	C	1.79%
GOOGL	A	1.77%
LBRDA	C	1.74%
PG	C	1.3%
PM	B	1.21%
YUM	D	1.18%
CMCSA	F	1.13%
MCD	F	1.12%
AMGN	B	1.11%
KEYS	D	1.06%
VUSB	A	0.92%
ICSH	B	0.92%
GILD	C	0.87%
CL	B	0.85%
MO	A	0.84%
ENTG	B	0.82%
ARWR	C	0.72%
NKE	F	0.68%
HON	B	0.6%
DHR	D	0.55%
GOOG	A	0.5%
BAX	C	0.47%
YUMC	F	0.42%
MUSA	C	0.4%
SPGI	B	0.37%
MTX	C	0.33%
KEX	B	0.33%
EQR	B	0.3%
JPM	B	0.3%
MUR	D	0.25%
V	C	0.21%
FWONK	B	0.21%
BKNG	B	0.19%
FLWS	C	0.15%
GD	D	0.13%
BATRK	B	0.11%
PNR	D	0.1%
FWONA	C	0.05%
VMEO	F	0.03%
BATRA	C	0.02%

FMCX Underweight 37 Positions Relative to XTL

Symbol	Grade	Weight
LITE	B	-5.02%
ANET	A	-4.86%
T	B	-4.63%
FYBR	B	-4.56%
VZ	B	-4.53%
CCOI	D	-4.52%
CSCO	D	-4.51%
MSI	B	-4.49%
JNPR	B	-4.48%
FFIV	C	-4.45%
IRDM	D	-4.43%
TMUS	B	-4.43%
CIEN	F	-4.4%
CALX	C	-3.58%
EXTR	C	-3.45%
VSAT	F	-3.12%
INFN	B	-2.86%
HLIT	B	-2.42%
TDS	B	-2.25%
LUMN	F	-2.01%
VIAV	D	-1.87%
NTCT	D	-1.5%
UI	B	-1.42%
LILAK	B	-1.41%
NPAB	B	-1.37%
USM	B	-1.22%
GOGO	D	-1.18%
CLFD	C	-0.86%
BAND	C	-0.78%
DGII	D	-0.71%
AAOI	F	-0.71%
GSAT	D	-0.64%
ATEX	B	-0.6%
SHEN	C	-0.48%
NTGR	C	-0.44%
IDT	D	-0.39%
AVNW	F	-0.38%