FPAG vs. EQTY ETF Comparison

Comparison of FPA Global Equity ETF (FPAG) to Kovitz Core Equity ETF (EQTY)

FPAG

FPA Global Equity ETF

FPAG Description

Although the adviser has adopted a policy to invest at least 80% of its assets in equity securities, the adviser expects to invest, under normal circumstances, at least 95% of the fund?s assets in equity securities. The fund invests primarily in publicly traded common stocks of mid- and large-cap U.S. and non-U.S. companies, including companies in emerging market countries. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$30.85

Average Daily Volume

28,052

Number of Holdings ^*

* may have additional holdings in another (foreign) market

EQTY

Kovitz Core Equity ETF

EQTY Description

The Kovitz Core Equity ETF seeks long-term capital appreciation. Through our fundamental, research-driven process, we strive to build diversified portfolios of equity investments through the purchase of competitively advantaged and financially strong companies at prices substantially less than our estimate of their intrinsic values.

Grade (RS Rating)

Last Trade

$24.07

Average Daily Volume

36,780

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FPAG	EQTY
30 Days	0.03%	1.86%
60 Days	3.54%	7.27%
90 Days	3.67%	8.67%
12 Months	24.60%	29.27%

7 Overlapping Holdings

Symbol	Grade	Weight in FPAG	Weight in EQTY	Overlap
ADI	D	5.13%	1.85%	1.85%
AMZN	A	3.39%	4.76%	3.39%
AON	B	2.69%	2.93%	2.69%
GOOG	C	4.17%	4.24%	4.17%
GOOGL	C	6.38%	0.5%	0.5%
KMX	B	1.85%	3.27%	1.85%
META	B	5.35%	4.91%	4.91%

FPAG Overweight 18 Positions Relative to EQTY

Symbol	Grade	Weight
C	B	4.88%
CMCSA	B	4.78%
TEL	B	4.58%
IFF	F	3.84%
WFC	A	3.66%
AVGO	C	2.26%
NXPI	F	2.21%
CHTR	B	1.75%
KMI	B	1.72%
MAR	A	1.69%
FE	D	1.49%
HWM	B	1.29%
ICLR	F	1.26%
WAB	B	1.23%
UBER	F	1.16%
NFLX	A	0.66%
BABA	D	0.29%
PCG	A	0.21%

FPAG Underweight 31 Positions Relative to EQTY

Symbol	Grade	Weight
SCHW	B	-4.26%
KEYS	C	-4.21%
BDX	F	-3.97%
V	A	-3.73%
J	D	-3.67%
PM	B	-3.61%
CRM	B	-3.51%
ICE	C	-3.38%
FI	A	-3.14%
LOW	B	-3.1%
BRK.A	B	-3.1%
PCAR	B	-3.05%
AXP	B	-2.99%
ORCL	A	-2.94%
JPM	A	-2.5%
PPG	F	-2.4%
ANET	C	-2.05%
MSI	B	-1.97%
AAPL	C	-1.88%
DLTR	F	-1.79%
DEO	F	-1.75%
AMAT	F	-1.73%
HAS	D	-1.08%
AMD	F	-1.01%
HAYW	B	-0.66%
MSFT	C	-0.24%
SYK	A	-0.13%
GGG	B	-0.1%
VRSK	A	-0.08%
ABT	C	-0.06%
EFX	F	-0.06%