FPX vs. LBAY ETF Comparison

Comparison of First Trust IPOX-100 Index Fund (FPX) to Leatherback Long/Short Alternative Yield ETF (LBAY)

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

$100.27

Average Daily Volume

15,091

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

$25.64

Average Daily Volume

5,431

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FPX	LBAY
30 Days	0.28%	-3.14%
60 Days	-3.23%	-3.60%
90 Days	-2.86%	-4.95%
12 Months	16.48%	-1.12%

5 Overlapping Holdings

Symbol	Grade	Weight in FPX	Weight in LBAY	Overlap
CARR	C	6.78%	2.49%	2.49%
COIN	C	1.53%	-0.81%	-0.81%
DASH	C	2.69%	-1.73%	-1.73%
DUOL	F	1.78%	-0.78%	-0.78%
VRT	C	2.58%	-1.33%	-1.33%

FPX Overweight 84 Positions Relative to LBAY

Symbol	Grade	Weight
REGN	B	9.18%
ABNB	B	6.19%
IOT	C	4.63%
OTIS	B	3.46%
CEG	B	3.2%
CRWD	B	2.8%
PLTR	A	2.78%
DKNG	F	2.58%
KVUE	F	2.1%
GEV	B	1.92%
CNM	D	1.47%
HQY	B	1.45%
GEHC	D	1.43%
CRBG	C	1.41%
SNOW	D	1.33%
CR	C	1.31%
HOOD	B	1.18%
RKT	C	1.09%
HPE	C	1.08%
APP	B	1.08%
OWL	D	1.01%
VLTO	D	0.96%
AZEK	D	0.96%
NET	B	0.94%
VERX	B	0.88%
PCVX	B	0.85%
DTM	B	0.82%
RDDT	B	0.82%
CRDO	B	0.81%
RBLX	B	0.8%
NSIT	C	0.76%
CHK	D	0.75%
RYAN	B	0.75%
KD	C	0.71%
MKSI	B	0.69%
JXN	C	0.66%
NRG	D	0.65%
TPG	D	0.61%
ESAB	D	0.57%
UTHR	B	0.56%
BSY	D	0.55%
EDR	A	0.55%
THC	C	0.54%
FNF	D	0.53%
VNT	D	0.52%
PR	C	0.49%
GKOS	A	0.47%
KNF	C	0.47%
COHR	B	0.43%
COOP	D	0.42%
TOST	B	0.42%
LNW	B	0.38%
INFA	B	0.37%
PSN	C	0.35%
BROS	B	0.3%
ELAN	D	0.28%
CIVI	D	0.27%
KNTK	B	0.25%
RVMD	D	0.25%
FOUR	B	0.25%
ETRN	D	0.23%
RBRK	C	0.22%
OGN	C	0.21%
NUVL	C	0.2%
STEP	B	0.2%
AMK	B	0.2%
DOCS	B	0.2%
ACT	C	0.19%
TMDX	A	0.19%
VRRM	B	0.18%
OSCR	D	0.17%
HIMS	C	0.17%
DYN	B	0.14%
SGBX	F	0.13%
NPAB	B	0.12%
ACVA	C	0.12%
PRCT	C	0.12%
ACLX	C	0.11%
HAYW	F	0.1%
RXST	D	0.09%
ARHS	C	0.09%
PHIN	D	0.07%
KYMR	D	0.07%
KROS	F	0.06%

FPX Underweight 50 Positions Relative to LBAY

Symbol	Grade	Weight
BG	B	-5.47%
XOM	D	-5.35%
FIS	B	-5.11%
V	C	-4.92%
ORI	D	-4.85%
ICE	A	-4.45%
AGNC	A	-4.35%
ZBH	D	-4.34%
AWK	B	-4.2%
APD	D	-4.16%
CMCSA	F	-4.04%
LHX	B	-4.03%
NEM	A	-3.99%
ABBV	C	-3.97%
PKG	C	-3.93%
MDT	D	-3.77%
MMM	B	-3.74%
UNP	D	-3.29%
MTN	F	-3.19%
LW	F	-3.1%
JNJ	F	-3.0%
KDP	D	-2.85%
KO	A	-2.85%
BKNG	B	-2.73%
PCH	F	-2.67%
WM	B	-2.62%
SPGI	B	-2.6%
T	B	-2.56%
RIO	C	-2.54%
MSCI	C	-2.54%
DPZ	D	-2.47%
SOLV	F	-1.64%
DAL	D	--0.98%
FIX	D	--1.09%
NFLX	A	--1.1%
SITE	F	--1.1%
IRM	B	--1.13%
BURL	B	--1.13%
CMG	D	--1.28%
DKS	C	--1.36%
AAPL	A	--1.36%
SQ	C	--1.39%
EQIX	C	--1.58%
SF	B	--1.64%
BLK	B	--1.72%
DLR	B	--1.75%
PLNT	B	--1.81%
OLLI	B	--1.83%
TSLA	B	--1.87%
RCL	B	--1.9%