FRI vs. SMCO ETF Comparison

Comparison of First Trust S&P REIT Index Fund (FRI) to Hilton Small-MidCap Opportunity ETF (SMCO)

FRI

First Trust S&P REIT Index Fund

FRI 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 S&P United States REIT 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 subset of the S&P Developed REIT Index, which measures the performance of more than 200 REITs or REIT-like structures in 15 developed markets. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$29.50

Average Daily Volume

81,591

Number of Holdings ^*

128

* may have additional holdings in another (foreign) market

SMCO

Hilton Small-MidCap Opportunity ETF

SMCO Description

The Sub-Adviser uses its proprietary Small & Mid Cap Opportunities investment process ("SMCO Process") to seek risk-adjusted returns by investing in U.S. equity securities within the small- and mid-cap asset classes. The fund"s portfolio will typically consist of between 50-75 stocks. The fund"s portfolio will consistently consist of stocks that the Sub-Adviser deems fundamentally attractive and reasonably valued. Under normal circumstances, at least 80% of the fund"s net assets, plus borrowings for investment purposes, will be invested in equity securities of small- and mid-capitalization companies.

Grade (RS Rating)

Last Trade

$26.77

Average Daily Volume

14,970

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FRI	SMCO
30 Days	0.21%	6.87%
60 Days	-0.40%	8.54%
90 Days	2.32%	9.72%
12 Months	26.65%

4 Overlapping Holdings

Symbol	Grade	Weight in FRI	Weight in SMCO	Overlap
ARE	F	1.42%	0.75%	0.75%
COLD	D	0.48%	1.42%	0.48%
IRT	A	0.39%	1.3%	0.39%
REXR	F	0.77%	0.76%	0.76%

FRI Overweight 124 Positions Relative to SMCO

Symbol	Grade	Weight
PLD	F	8.93%
EQIX	A	7.17%
WELL	A	6.54%
DLR	B	4.61%
SPG	A	4.6%
PSA	C	4.39%
O	C	4.11%
EXR	C	2.91%
IRM	C	2.79%
VICI	C	2.76%
AVB	B	2.72%
VTR	B	2.21%
EQR	C	2.1%
ESS	B	1.63%
INVH	D	1.61%
MAA	B	1.55%
KIM	A	1.4%
DOC	C	1.26%
SUI	C	1.22%
GLPI	C	1.12%
UDR	B	1.12%
ELS	C	1.12%
CPT	B	1.08%
HST	C	1.03%
WPC	C	1.01%
REG	A	1.01%
AMH	C	0.99%
BXP	C	0.97%
LAMR	C	0.94%
CUBE	C	0.91%
OHI	C	0.86%
BRX	A	0.73%
FRT	B	0.72%
EGP	D	0.7%
NNN	C	0.65%
ADC	A	0.64%
VNO	C	0.58%
FR	D	0.58%
RHP	B	0.57%
STAG	D	0.55%
KRG	B	0.5%
TRNO	F	0.5%
EPRT	B	0.48%
CTRE	C	0.42%
SLG	B	0.41%
PECO	A	0.4%
CUZ	B	0.39%
SBRA	C	0.36%
MAC	B	0.35%
KRC	B	0.35%
SKT	A	0.33%
APLE	B	0.29%
EPR	C	0.28%
NHI	D	0.28%
HIW	C	0.28%
CDP	C	0.28%
BNL	D	0.27%
PK	C	0.26%
DEI	B	0.26%
IIPR	D	0.25%
NSA	C	0.25%
LXP	D	0.23%
UE	B	0.23%
MPW	F	0.22%
OUT	A	0.22%
AKR	B	0.22%
FCPT	C	0.22%
ROIC	A	0.19%
IVT	A	0.19%
EQC	B	0.18%
SHO	D	0.17%
DRH	B	0.16%
LTC	B	0.14%
XHR	B	0.13%
GTY	A	0.13%
ALEX	B	0.12%
ESRT	C	0.12%
GNL	F	0.12%
ELME	D	0.12%
VRE	B	0.12%
PEB	D	0.12%
RLJ	C	0.12%
AAT	B	0.11%
JBGS	F	0.11%
UNIT	B	0.11%
UMH	B	0.11%
PDM	D	0.1%
NTST	C	0.1%
DEA	D	0.1%
AIV	C	0.09%
CSR	B	0.09%
BDN	C	0.08%
PGRE	F	0.08%
NXRT	B	0.08%
INN	D	0.06%
GOOD	B	0.06%
PLYM	F	0.06%
AHH	D	0.06%
HPP	F	0.05%
WSR	A	0.05%
OLP	B	0.04%
CLDT	B	0.04%
ALX	D	0.04%
SVC	F	0.04%
CHCT	C	0.04%
PKST	F	0.04%
BFS	C	0.04%
FPI	B	0.04%
UHT	D	0.04%
GMRE	F	0.04%
DHC	F	0.04%
PSTL	D	0.03%
CBL	B	0.03%
CTO	B	0.03%
LAND	F	0.03%
CIO	C	0.02%
NXDT	F	0.02%
PINE	C	0.02%
BHR	C	0.02%
BRT	A	0.02%
ILPT	F	0.02%
OPI	F	0.01%
MDV	D	0.01%
FSP	B	0.01%

FRI Underweight 57 Positions Relative to SMCO

Symbol	Grade	Weight
KD	B	-2.92%
CLH	C	-2.78%
HLI	A	-2.67%
PRIM	A	-2.6%
DY	D	-2.48%
EME	A	-2.47%
LYV	A	-2.47%
CFR	B	-2.17%
MGNI	B	-2.17%
CBU	B	-2.14%
EQT	B	-2.08%
RL	C	-2.06%
NVT	B	-1.97%
TDY	B	-1.94%
MC	C	-1.91%
SAIA	B	-1.91%
BWXT	B	-1.78%
MTSI	B	-1.75%
CBSH	B	-1.75%
BURL	B	-1.72%
CYBR	A	-1.68%
CIEN	C	-1.66%
PLNT	A	-1.64%
CMC	B	-1.59%
J	D	-1.58%
BJ	A	-1.57%
IDA	A	-1.56%
BAH	F	-1.54%
VVV	D	-1.52%
RNR	C	-1.51%
MKSI	C	-1.5%
SFM	A	-1.45%
RS	B	-1.43%
BR	A	-1.43%
ENTG	D	-1.42%
TECH	F	-1.34%
DBRG	F	-1.28%
SNX	D	-1.27%
POOL	C	-1.21%
ATR	B	-1.18%
STE	D	-1.17%
CRL	D	-1.17%
SMPL	B	-1.16%
DOX	D	-1.15%
LSTR	D	-1.13%
CWEN	C	-1.12%
TENB	C	-1.11%
CTRA	B	-1.1%
CMS	C	-1.04%
WST	C	-1.02%
ARES	A	-1.0%
TFX	F	-0.92%
HP	C	-0.91%
ASH	F	-0.91%
MGY	A	-0.9%
ICFI	F	-0.77%
ELF	C	-0.74%