FOVL vs. WBIF ETF Comparison

Comparison of iShares Focused Value Factor ETF (FOVL) to WBI Large Cap Tactical Value Shares (WBIF)

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

WBIF

WBI Large Cap Tactical Value Shares

WBIF Description

The investment seeks long-term capital appreciation and the potential for current income, while also seeking to protect principal during unfavorable market conditions. The fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the equity securities of large capitalization domestic and foreign companies which WBI Investments, Inc., the sub-advisor to the fund and an affiliate of Millington Securities Inc., the advisor, believes display an attractive discount in a company's intrinsic value relative to its market price, and up to 20% of its net assets in other tactical investment opportunities.

Grade (RS Rating)

Last Trade

$30.24

Average Daily Volume

1,622

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FOVL	WBIF
30 Days	7.28%	3.91%
60 Days	10.70%	3.66%
90 Days	14.43%	4.44%
12 Months	47.41%	13.34%

1 Overlapping Holdings

	Symbol	Grade	Weight in FOVL	Weight in WBIF	Overlap
	VOYA	B	2.38%	3.26%	2.38%

FOVL Overweight 39 Positions Relative to WBIF

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%
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%
RPRX	D	2.18%
BG	F	2.14%
ADM	D	2.08%
CRI	D	1.89%
CNXC	F	1.81%

FOVL Underweight 42 Positions Relative to WBIF

Symbol	Grade	Weight
WRB	A	-4.74%
UHS	D	-4.68%
FIX	A	-4.58%
KBH	D	-4.54%
NXST	C	-4.43%
V	A	-4.26%
CI	F	-4.26%
DKS	C	-4.24%
PRU	A	-4.14%
ACN	C	-3.98%
UNM	A	-3.93%
MCK	B	-3.93%
AMAT	F	-3.55%
RGA	A	-3.26%
OXY	D	-2.81%
PHM	D	-2.6%
MMC	B	-2.12%
CF	B	-1.86%
ADP	B	-1.53%
AXP	A	-1.53%
AME	A	-1.46%
G	B	-1.44%
PRI	A	-1.42%
PAYX	C	-1.39%
BR	A	-1.36%
TXRH	C	-1.33%
CASY	A	-1.28%
RMD	C	-1.23%
FLTR	A	-0.76%
FALN	B	-0.75%
AGZD	A	-0.75%
FTSL	B	-0.69%
ALSN	B	-0.67%
THG	A	-0.59%
DCI	B	-0.56%
GL	B	-0.55%
STIP	C	-0.54%
TOL	B	-0.54%
ALLE	D	-0.53%
CBT	C	-0.53%
DOX	D	-0.52%
BKLN	A	-0.32%