FOVL vs. LBAY ETF Comparison

Comparison of iShares Focused Value Factor ETF (FOVL) to Leatherback Long/Short Alternative Yield ETF (LBAY)

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

$68.28

Average Daily Volume

1,851

Number of Holdings ^*

* may have additional holdings in another (foreign) market

LBAY

Leatherback Long/Short Alternative Yield ETF

LBAY Description

The investment seeks capital appreciation and income. The fund is an actively-managed ETF that seeks to achieve its investment objective by purchasing long positions in securities believed to provide sustainable shareholder yield (defined as dividends plus buybacks plus debt paydowns) and taking short positions in securities expected to decline in price. It will generally have net exposure of 75% - 110% long. The fund's long positions are generally expected to be comprised of equity securities or depositary receipts, although long positions may also include investment-grade corporate bonds and convertible bonds. It is non-diversified.

Grade (RS Rating)

Last Trade

$27.55

Average Daily Volume

2,660

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FOVL	LBAY
30 Days	4.36%	-1.35%
60 Days	13.72%	3.71%
90 Days	15.49%	7.77%
12 Months	42.32%	10.20%

3 Overlapping Holdings

Symbol	Grade	Weight in FOVL	Weight in LBAY	Overlap
ORI	A	2.91%	4.75%	2.91%
SF	A	3.2%	-1.79%	-1.79%
T	B	2.81%	3.03%	2.81%

FOVL Overweight 36 Positions Relative to LBAY

Symbol	Grade	Weight
FYBR	C	3.93%
TOL	C	3.89%
PNFP	B	3.48%
IBKR	A	3.37%
AXS	A	3.05%
JPM	C	2.98%
SNV	D	2.96%
LPX	C	2.91%
BLDR	C	2.86%
JHG	A	2.86%
COF	A	2.78%
FHB	D	2.66%
Z	C	2.66%
CNA	D	2.62%
CUZ	C	2.62%
KMI	A	2.61%
WLK	C	2.57%
WTM	C	2.54%
FNB	D	2.51%
WBS	D	2.5%
HPE	B	2.48%
STT	A	2.46%
DFS	A	2.44%
AMG	B	2.39%
PFG	A	2.32%
PNW	C	2.23%
AN	D	2.21%
LYB	B	2.17%
THO	C	2.16%
SNDR	D	2.01%
AGR	C	1.95%
NUE	D	1.88%
UNM	A	1.75%
ALK	C	1.71%
CLF	D	1.55%
LLYVK	B	0.79%

FOVL Underweight 53 Positions Relative to LBAY

Symbol	Grade	Weight
NEM	C	-4.99%
BG	F	-4.81%
XOM	A	-4.78%
MMM	C	-4.7%
FIS	A	-4.61%
LW	D	-4.4%
AGNC	B	-4.24%
MO	D	-4.12%
CMCSA	B	-4.07%
ZBH	F	-4.05%
MDT	C	-4.03%
ICE	A	-4.02%
VTRS	D	-4.01%
AWK	D	-3.61%
ABBV	C	-3.58%
RIO	B	-3.52%
UNP	F	-3.43%
EBAY	A	-3.32%
V	B	-3.26%
PKG	B	-3.25%
APD	C	-3.2%
LHX	A	-3.08%
MTN	D	-3.08%
CARR	A	-2.97%
PCH	C	-2.91%
SPGI	C	-2.84%
MSCI	B	-2.79%
BKNG	B	-2.72%
DE	C	-2.7%
KDP	C	-2.62%
KO	C	-2.56%
SOLV	C	-2.09%
EVR	C	--1.19%
SITE	D	--1.25%
BURL	C	--1.25%
DKS	D	--1.27%
FIX	A	--1.28%
SHOP	B	--1.3%
EQIX	C	--1.31%
DLR	C	--1.33%
TXRH	A	--1.41%
AVGO	B	--1.49%
CMG	C	--1.52%
DUOL	B	--1.59%
SQ	D	--1.63%
VRT	B	--1.7%
KKR	A	--1.71%
OLLI	C	--1.78%
CVNA	A	--1.8%
PLNT	B	--1.9%
RCL	B	--2.0%
TSLA	C	--2.08%
DASH	A	--2.13%