FPX vs. CBLS ETF Comparison

Comparison of First Trust IPOX-100 Index Fund (FPX) to Changebridge Capital Long/Short Equity ETF (CBLS)

FPX

First Trust IPOX-100 Index Fund

FPX Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the IPOX(R)-100 U.S. Index. The fund will normally invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the index. The index is a modified, value-weighted price index measuring the performance of the top U.S. companies ranked quarterly by market capitalization in the IPOX(R) Global Composite Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$97.75

Average Daily Volume

15,659

Number of Holdings ^*

* may have additional holdings in another (foreign) market

CBLS

Changebridge Capital Long/Short Equity ETF

CBLS Description

The investment seeks long-term capital appreciation while minimizing volatility. The Adviser also considers an assessment of a company's ESG attributes in determining the attractiveness of an investment opportunity. In general, the fund's investments are broadly invested over a number of sectors, but it may focus on the technology, consumer, and healthcare sectors. Under normal circumstances, at least 80% of the fund's net assets, plus borrowings for investment purposes, will be invested long or short in equity securities, including common stocks and depositary receipts. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$25.83

Average Daily Volume

15,468

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FPX	CBLS
30 Days	0.95%	0.96%
60 Days	0.54%	2.04%
90 Days	-0.09%	11.92%
12 Months	6.81%	31.69%

5 Overlapping Holdings

Symbol	Grade	Weight in FPX	Weight in CBLS	Overlap
CHK	F	0.71%	1.94%	0.71%
DASH	D	2.49%	-1.44%	-1.44%
HAYW	C	0.11%	-1.07%	-1.07%
RDDT	D	0.82%	2.11%	0.82%
SGBX	F	0.11%	-1.03%	-1.03%

FPX Overweight 84 Positions Relative to CBLS

Symbol	Grade	Weight
REGN	B	9.43%
CARR	B	7.05%
ABNB	F	5.8%
IOT	C	5.34%
OTIS	D	3.4%
PLTR	C	2.98%
CEG	D	2.7%
DKNG	F	2.52%
VRT	D	2.3%
KVUE	F	2.11%
CRWD	F	1.87%
GEV	D	1.76%
COIN	D	1.6%
CNM	C	1.54%
GEHC	C	1.47%
DUOL	F	1.46%
CRBG	C	1.44%
CR	A	1.43%
HQY	D	1.4%
SNOW	F	1.31%
RKT	B	1.22%
OWL	C	1.13%
HOOD	D	1.12%
HPE	D	1.02%
AZEK	C	1.01%
APP	D	1.01%
VLTO	A	0.99%
VERX	A	0.94%
PCVX	C	0.92%
NET	D	0.91%
RBLX	C	0.89%
DTM	A	0.87%
NSIT	B	0.86%
JXN	B	0.78%
RYAN	B	0.77%
CRDO	D	0.75%
KD	C	0.74%
TPG	A	0.72%
MKSI	D	0.65%
NRG	D	0.61%
UTHR	C	0.6%
ESAB	C	0.6%
THC	B	0.59%
FNF	B	0.59%
EDR	A	0.57%
BSY	F	0.55%
VNT	C	0.54%
KNF	B	0.53%
PR	D	0.48%
GKOS	C	0.48%
COOP	B	0.48%
TOST	C	0.42%
COHR	C	0.41%
LNW	B	0.37%
PSN	A	0.33%
RVMD	C	0.3%
INFA	F	0.29%
CIVI	C	0.28%
KNTK	C	0.26%
BROS	D	0.26%
RBRK	B	0.25%
ELAN	F	0.25%
FOUR	D	0.24%
OGN	B	0.23%
STEP	B	0.22%
ACT	B	0.22%
AMK	C	0.21%
NUVL	C	0.21%
DOCS	D	0.21%
EQT	F	0.21%
HIMS	C	0.2%
VRRM	C	0.2%
TMDX	D	0.19%
DYN	C	0.17%
NPAB	C	0.17%
OSCR	D	0.15%
PRCT	D	0.13%
ACLX	C	0.13%
ACVA	D	0.12%
KYMR	B	0.11%
ARHS	D	0.09%
PHIN	B	0.08%
RXST	F	0.07%
KROS	C	0.07%

FPX Underweight 68 Positions Relative to CBLS

Symbol	Grade	Weight
LNG	A	-2.86%
SKY	B	-2.82%
GTLS	C	-2.8%
OSW	C	-2.75%
HLX	C	-2.51%
LLY	D	-2.4%
RIG	D	-2.39%
IBN	B	-2.34%
NARI	D	-2.32%
SCI	A	-2.31%
WTTR	A	-2.3%
RTX	A	-2.28%
ERJ	A	-2.26%
ARCO	D	-2.24%
STRL	D	-2.21%
TDG	C	-2.21%
NU	D	-2.2%
MMYT	B	-2.2%
BLBD	D	-2.19%
WMT	C	-2.15%
MELI	C	-2.14%
ECL	D	-2.11%
AEHR	C	-2.08%
GD	B	-2.05%
AER	B	-2.02%
BKNG	D	-1.85%
HUMA	B	-1.84%
AVGO	D	-1.7%
MGNI	C	-1.5%
AAPL	B	-1.49%
KLAC	C	-1.47%
TSM	D	-1.46%
MSFT	D	-1.45%
MU	D	-1.44%
LRCX	D	-1.42%
ASML	D	-1.42%
DELL	F	-1.32%
PL	C	-0.7%
PLUG	F	--0.98%
APO	A	--1.02%
ARE	D	--1.03%
GPS	D	--1.03%
TTC	C	--1.04%
PAYX	A	--1.04%
ENR	C	--1.04%
HELE	F	--1.04%
IR	A	--1.04%
ROK	C	--1.05%
KEY	B	--1.05%
PH	A	--1.05%
CHH	C	--1.06%
LAD	C	--1.06%
KMT	B	--1.06%
CTVA	B	--1.06%
FIGS	C	--1.07%
DE	D	--1.07%
IBM	B	--1.08%
MIDD	D	--1.08%
SITE	D	--1.08%
BGFV	F	--1.08%
BC	D	--1.11%
GIII	D	--1.22%
HOG	C	--1.28%
CWAN	C	--1.3%
NOW	B	--1.47%
MPW	D	--1.71%
OZK	C	--1.75%
TSLA	C	--2.03%