FPXI vs. CBLS ETF Comparison

Comparison of First Trust International IPO ETF (FPXI) to Changebridge Capital Long/Short Equity ETF (CBLS)
FPXI

First Trust International IPO ETF

FPXI Description

The investment seeks investment results that correspond generally to the price andyield (before the fund's fees and expenses) of an index called the IPOXInternational Index. The fund will normally invest at least 90% of its net assets (plus the amount ofany borrowings for investment purposes) in common stocks and/or depositaryreceipts that comprise the index. The index is a market-cap weightedportfolio measuring the performance of the top 50 non-U.S. companies, includingcompanies domiciled in emerging markets, ranked quarterly by marketcapitalization in the IPOX(R) Global Composite Index (the "Base Index"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$48.50

Average Daily Volume

10,807

Number of Holdings *

16

* 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

$26.47

Average Daily Volume

24,860

Number of Holdings *

80

* may have additional holdings in another (foreign) market
Performance
Period FPXI CBLS
30 Days 2.83% 3.48%
60 Days 5.00% 7.36%
90 Days 5.29% 14.11%
12 Months 22.98% 35.76%
3 Overlapping Holdings
Symbol Grade Weight in FPXI Weight in CBLS Overlap
NU B 3.52% 2.19% 2.19%
ONON D 1.09% 0.96% 0.96%
SN C 2.0% 2.11% 2.0%
FPXI Overweight 13 Positions Relative to CBLS
Symbol Grade Weight
ARM B 7.1%
NVO B 4.7%
SPOT C 4.43%
PDD D 4.07%
MNDY C 3.95%
NVT D 3.95%
RBA B 1.34%
ICLR B 1.25%
CPNG D 1.24%
TME B 1.21%
TCOM D 1.14%
BIRK C 1.01%
TEVA B 0.89%
FPXI Underweight 77 Positions Relative to CBLS
Symbol Grade Weight
NVDA B -2.89%
LLY A -2.76%
LNG B -2.68%
RDDT B -2.45%
MMYT B -2.43%
GTLS F -2.41%
STRL D -2.29%
IBN A -2.29%
CRSP D -2.25%
HLX C -2.19%
ICFI D -2.17%
MELI B -2.13%
NARI C -2.1%
OSW C -2.1%
RIG F -2.09%
SBUX F -2.07%
ERJ C -2.07%
WTTR C -2.06%
AAPL A -2.05%
ARCO D -2.04%
MSFT A -2.04%
BKNG B -2.02%
LRCX A -2.02%
TSM B -1.99%
WMT A -1.99%
CHK D -1.98%
GD D -1.98%
ECL B -1.98%
ASML A -1.97%
MGNI B -1.97%
KLAC A -1.96%
AER B -1.95%
TDG D -1.95%
DELL B -1.94%
RTX D -1.93%
SKY D -1.91%
MU B -1.86%
AVGO B -1.83%
SEDG F --0.33%
PLUG F --0.48%
NOW C --0.51%
HAYW D --0.69%
SITE F --0.7%
CWAN F --0.71%
TTC C --0.74%
BC D --0.78%
HELE F --0.79%
LAD F --0.81%
PAYX D --0.81%
CTVA D --0.84%
MIDD D --0.85%
BXP B --0.87%
BX B --0.87%
ROK C --0.88%
CHH B --0.88%
ENR D --0.89%
KEY C --0.9%
ARE D --0.91%
APO B --0.91%
FAST D --0.93%
IBM B --0.94%
BGFV F --0.96%
MPW D --0.96%
OZK D --0.97%
KMT F --0.98%
CMA B --0.99%
IR C --0.99%
PH D --0.99%
MTB B --1.04%
ZION A --1.04%
DASH F --1.17%
GPS C --1.17%
INTC C --1.34%
HOG F --1.43%
F B --1.44%
DECK D --1.45%
TSLA B --1.61%
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