FOVL vs. INFL ETF Comparison

Comparison of iShares Focused Value Factor ETF (FOVL) to Horizon Kinetics Inflation Beneficiaries ETF (INFL)

FOVL

iShares Focused Value Factor ETF

FOVL Description

The investment seeks to track the to track the investment results of the Focused Value Select Index, which is an objective, rules-based, equal-weighted equity index provided by FTSE Russell. The underlying index measures the performance of large- and mid-capitalization U.S. companies with prominent value factor characteristics, as determined by Russell. The fund generally will invest at least 90% of its assets in the component securities of the underlying index and may invest up to 10% of its assets in certain futures, options and swap contracts, cash and cash equivalents. It is non-diversified.

Grade (RS Rating)

Last Trade

$74.88

Average Daily Volume

2,260

Number of Holdings ^*

* may have additional holdings in another (foreign) market

INFL

Horizon Kinetics Inflation Beneficiaries ETF

INFL Description

The investment seeks long-term growth of capital in real (inflation-adjusted) terms. The fund is an actively-managed ETF that seeks to achieve its investment objective by investing primarily in the equity securities of domestic and foreign companies that are expected to benefit, either directly or indirectly, from rising prices (inflation). The fund's investments in equity securities are generally expected to include common stock, ownership units of publicly traded MLPs, and units of royalty trusts. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$42.99

Average Daily Volume

172,634

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FOVL	INFL
30 Days	7.28%	8.04%
60 Days	10.70%	13.04%
90 Days	14.43%	15.64%
12 Months	47.41%	40.45%

3 Overlapping Holdings

Symbol	Grade	Weight in FOVL	Weight in INFL	Overlap
ADM	D	2.08%	2.32%	2.08%
BG	F	2.14%	2.22%	2.14%
RPRX	D	2.18%	0.73%	0.73%

FOVL Overweight 37 Positions Relative to INFL

Symbol	Grade	Weight
FHN	A	3.04%
DFS	B	2.92%
MTB	A	2.85%
NTRS	A	2.83%
FNB	A	2.79%
FHB	A	2.76%
JHG	A	2.75%
BAC	A	2.74%
WTM	A	2.72%
ALK	C	2.71%
ETR	B	2.7%
CMA	A	2.69%
RF	A	2.68%
USB	A	2.63%
OZK	B	2.63%
PNC	B	2.6%
AXS	A	2.59%
FITB	A	2.57%
OGE	B	2.5%
HPE	B	2.49%
PNW	B	2.47%
EVRG	A	2.44%
CMCSA	B	2.44%
PRGO	B	2.42%
MET	A	2.42%
VOYA	B	2.38%
D	C	2.36%
CNA	B	2.35%
AVT	C	2.32%
UGI	A	2.32%
PFG	D	2.31%
MTG	C	2.28%
RNR	C	2.27%
VZ	C	2.22%
CWEN	C	2.19%
CRI	D	1.89%
CNXC	F	1.81%

FOVL Underweight 13 Positions Relative to INFL

Symbol	Grade	Weight
TPL	A	-9.44%
ICE	C	-4.26%
LNG	B	-3.18%
CACI	D	-2.96%
MMC	B	-2.74%
WFG	D	-2.17%
DBRG	F	-1.58%
JOE	F	-1.17%
PBT	C	-1.02%
MSB	B	-0.94%
DMLP	A	-0.54%
SBR	B	-0.47%
SJT	C	-0.41%