FTLS vs. ICAP ETF Comparison

Comparison of First Trust Long/Short Equity (FTLS) to InfraCap Equity Income Fund ETF (ICAP)

FTLS

First Trust Long/Short Equity

FTLS Description

The investment seeks to provide investors with long-term total return. Under normal circumstances, at least 80% of the fund's assets (plus the amount of any borrowing for investment purposes) will be exposed to U.S. exchange-listed equity securities of U.S. and foreign companies by investing in such securities directly and/or in U.S. exchange-traded funds ("ETFs") that provide exposure to such securities. It may invest up to 20% of its net assets (plus the amount of any borrowing for investment purposes) in U.S. exchange-listed equity index futures contracts. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$65.45

Average Daily Volume

127,001

Number of Holdings ^*

384

* may have additional holdings in another (foreign) market

ICAP

InfraCap Equity Income Fund ETF

ICAP Description

The investment seeks to maximize income and pursue total return opportunities. The fund, under normal conditions, will invest at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of companies that pay dividends during normal market conditions. The fund will invest primarily in securities of U.S. companies, but may invest in foreign securities, including securities of companies located in emerging markets. To obtain high yield and total return, the adviser will favor sectors and industries that it currently views are undervalued on a relative basis.

Grade (RS Rating)

Last Trade

$27.46

Average Daily Volume

7,956

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FTLS	ICAP
30 Days	0.83%	-1.28%
60 Days	4.31%	2.04%
90 Days	3.42%	7.51%
12 Months	20.73%	29.33%

23 Overlapping Holdings

Symbol	Grade	Weight in FTLS	Weight in ICAP	Overlap
AMZN	B	2.75%	3.82%	2.75%
AVGO	C	1.16%	2.67%	1.16%
C	B	2.21%	4.2%	2.21%
CVX	A	-0.02%	3.99%	-0.02%
EPR	D	0.08%	0.31%	0.08%
FANG	D	0.84%	1.46%	0.84%
GD	D	-0.55%	0.16%	-0.55%
HON	B	-0.02%	0.56%	-0.02%
JNJ	D	1.94%	0.09%	0.09%
JPM	A	0.92%	1.57%	0.92%
KMI	A	1.23%	1.28%	1.23%
MCD	D	-0.41%	1.55%	-0.41%
MMM	D	-0.3%	0.57%	-0.3%
MO	A	1.48%	1.0%	1.0%
MSFT	D	4.5%	0.91%	0.91%
ORCL	A	-0.82%	3.51%	-0.82%
PAA	B	0.13%	0.31%	0.13%
PM	A	1.88%	0.63%	0.63%
TFC	A	1.03%	2.04%	1.03%
UNH	C	-0.41%	0.22%	-0.41%
USB	B	1.34%	1.01%	1.01%
WMB	A	0.07%	0.2%	0.07%
XOM	B	-0.45%	1.05%	-0.45%

FTLS Overweight 361 Positions Relative to ICAP

Symbol	Grade	Weight
AAPL	C	7.52%
NVDA	A	4.98%
TMUS	B	2.29%
LOW	C	2.16%
ACN	C	2.13%
SCHW	A	2.09%
QCOM	F	2.01%
META	C	1.84%
FDX	B	1.66%
PH	B	1.65%
CME	A	1.58%
GOOGL	B	1.46%
VLO	C	1.41%
MPC	D	1.35%
ILMN	C	1.25%
GOOG	B	1.22%
CL	D	1.17%
LNG	A	1.15%
CTAS	B	1.12%
BRK.A	B	1.12%
TRV	A	1.05%
HPQ	B	1.03%
FIS	C	0.99%
HWM	A	0.97%
SYY	D	0.86%
LLY	F	0.86%
ALL	A	0.86%
SYF	B	0.8%
NTAP	C	0.79%
JBL	C	0.79%
PBR	D	0.72%
RL	C	0.71%
TWLO	A	0.7%
AFL	C	0.69%
TOL	B	0.66%
EAT	A	0.63%
CSL	C	0.6%
NVR	D	0.56%
CF	A	0.55%
PNR	B	0.55%
INSM	C	0.55%
VLTO	C	0.5%
BJ	B	0.49%
FLEX	B	0.48%
MAS	D	0.47%
CROX	F	0.46%
OKTA	D	0.46%
VRSN	F	0.46%
ZIM	A	0.45%
GEN	B	0.45%
SWK	F	0.44%
NTRS	A	0.43%
NVS	D	0.43%
GL	C	0.41%
VICI	C	0.4%
CAG	F	0.4%
FFIV	B	0.4%
PENN	C	0.39%
DBX	C	0.36%
EXP	B	0.36%
CRS	A	0.35%
TTC	F	0.34%
SNA	B	0.33%
TKO	A	0.32%
WRB	B	0.32%
CCK	D	0.31%
LPX	B	0.31%
ALLY	C	0.31%
JAZZ	C	0.3%
PI	D	0.3%
AYI	B	0.29%
ASO	F	0.29%
SCHV	A	0.27%
IWD	B	0.27%
SPYV	A	0.26%
RPRX	F	0.25%
EWBC	A	0.25%
CNK	A	0.24%
WHD	B	0.22%
AIZ	A	0.22%
KNSL	B	0.21%
HRB	D	0.21%
MSM	D	0.21%
UHS	D	0.2%
SAM	C	0.2%
EXEL	B	0.2%
ALSN	B	0.2%
MGY	A	0.2%
TWST	F	0.19%
COLB	B	0.18%
THO	C	0.18%
ADMA	C	0.17%
ALKS	C	0.17%
SKYW	B	0.16%
CALM	A	0.16%
UMBF	B	0.16%
PNFP	B	0.16%
SFM	A	0.16%
STNG	D	0.16%
GLBE	A	0.16%
MATX	B	0.15%
PRI	A	0.15%
CRC	A	0.15%
LEG	F	0.14%
LOGI	F	0.14%
AXS	A	0.14%
CBT	C	0.14%
BFH	B	0.14%
ORI	A	0.14%
MTG	D	0.13%
GMS	B	0.13%
VRNA	B	0.13%
CSWI	A	0.13%
GM	B	0.13%
SIGI	B	0.13%
OPCH	F	0.12%
WGO	D	0.12%
KRG	A	0.12%
PPC	B	0.12%
GFF	B	0.12%
FTDR	B	0.12%
ZWS	B	0.12%
BFAM	F	0.12%
CBSH	A	0.12%
NSA	C	0.11%
ABM	B	0.11%
MMS	D	0.11%
ENLC	A	0.11%
HESM	A	0.11%
AM	A	0.11%
SMPL	B	0.11%
GBCI	B	0.1%
TBBK	B	0.1%
GRBK	D	0.1%
THG	A	0.1%
LOPE	B	0.1%
YOU	D	0.1%
EXTR	C	0.1%
TCBI	B	0.1%
RDFN	D	0.1%
ESNT	D	0.09%
PRGS	B	0.09%
DBRG	F	0.09%
PAYO	A	0.09%
KFY	B	0.09%
VCYT	B	0.09%
FOLD	F	0.09%
LCII	D	0.09%
TXG	F	0.09%
AZZ	A	0.08%
KMPR	A	0.08%
UBSI	B	0.08%
PLXS	B	0.08%
HAYW	B	0.08%
RLI	A	0.08%
BOH	B	0.08%
CARG	B	0.08%
LANC	D	0.08%
CUBI	C	0.08%
NMIH	D	0.07%
EBC	B	0.07%
FHB	B	0.07%
PBH	A	0.07%
BCRX	D	0.07%
REVG	B	0.07%
AVNT	B	0.07%
AMPH	F	0.06%
GSL	F	0.06%
PLMR	A	0.06%
WFG	C	0.06%
ADUS	D	0.06%
BRC	C	0.06%
AUB	B	0.06%
ICFI	F	0.06%
MQ	F	0.06%
ROIC	A	0.06%
OTEX	F	0.06%
SUPN	B	0.06%
MYGN	F	0.05%
COLL	F	0.05%
TRMD	D	0.05%
CDNA	D	0.04%
VIST	B	-0.02%
CBU	B	-0.02%
HLN	C	-0.02%
DNB	B	-0.02%
SAIA	C	-0.02%
COTY	F	-0.02%
KD	A	-0.02%
RIVN	F	-0.02%
FRO	D	-0.02%
COHR	B	-0.02%
UWMC	D	-0.02%
WOLF	F	-0.02%
NVEE	F	-0.02%
LKFN	B	-0.02%
AER	B	-0.02%
ARM	F	-0.02%
IBOC	B	-0.02%
RUN	F	-0.02%
VSAT	F	-0.02%
ASPN	F	-0.02%
EA	A	-0.02%
ENS	D	-0.02%
FSLR	F	-0.02%
TFIN	B	-0.03%
ALB	B	-0.03%
MARA	C	-0.03%
RCL	A	-0.03%
HHH	B	-0.03%
UTZ	D	-0.03%
ICHR	C	-0.03%
CNNE	B	-0.03%
NEOG	D	-0.03%
WMT	A	-0.03%
GE	D	-0.03%
GKOS	A	-0.03%
AMRC	F	-0.03%
BVN	D	-0.03%
RDY	D	-0.03%
CLH	C	-0.03%
BURL	A	-0.03%
NWSA	B	-0.03%
DIOD	F	-0.03%
ARLO	C	-0.03%
OSIS	A	-0.03%
PAR	A	-0.03%
PSMT	D	-0.03%
AZTA	F	-0.03%
SDGR	C	-0.03%
BE	A	-0.03%
RXST	F	-0.03%
TMO	F	-0.03%
AMD	F	-0.03%
BIRK	D	-0.03%
AMRK	F	-0.03%
FAST	B	-0.03%
GPRE	F	-0.03%
SLGN	A	-0.03%
ATEC	C	-0.04%
STZ	D	-0.04%
CTRA	B	-0.04%
CRDO	B	-0.04%
APPN	C	-0.04%
CFLT	B	-0.04%
AMAT	F	-0.04%
IRTC	C	-0.04%
UPST	B	-0.04%
EQT	A	-0.04%
FFIN	B	-0.04%
ERJ	A	-0.04%
RH	D	-0.04%
PRCT	B	-0.04%
ENR	B	-0.04%
OSK	C	-0.04%
AEO	F	-0.05%
ACIW	B	-0.05%
ZD	B	-0.05%
ACVA	A	-0.05%
SOFI	A	-0.05%
VRRM	F	-0.05%
LYFT	C	-0.05%
LMND	A	-0.05%
GATX	B	-0.05%
TTD	B	-0.06%
COP	B	-0.06%
MSA	D	-0.06%
VAL	F	-0.06%
WST	D	-0.06%
AVAV	C	-0.07%
MMYT	B	-0.07%
APO	A	-0.07%
SSB	B	-0.07%
CDW	F	-0.07%
AVY	D	-0.07%
KTOS	C	-0.07%
MUFG	A	-0.07%
HCA	F	-0.07%
DLB	F	-0.07%
SE	A	-0.07%
DY	C	-0.08%
BA	D	-0.08%
VNT	C	-0.08%
NSIT	F	-0.09%
CCOI	B	-0.09%
TRMB	B	-0.09%
R	B	-0.09%
NXPI	F	-0.09%
MAT	D	-0.09%
HAE	C	-0.1%
ING	D	-0.1%
GPC	F	-0.1%
VVV	D	-0.1%
ARGX	B	-0.11%
STM	F	-0.11%
SLB	C	-0.12%
HII	F	-0.12%
IDCC	B	-0.13%
BKR	B	-0.13%
KEYS	C	-0.13%
STE	D	-0.13%
ABT	A	-0.14%
NFLX	A	-0.14%
HQY	A	-0.14%
ASX	D	-0.15%
PKG	B	-0.15%
TM	D	-0.15%
INFY	D	-0.16%
SYK	A	-0.16%
VMC	B	-0.16%
GSK	F	-0.17%
IPG	F	-0.17%
EFX	F	-0.19%
BWXT	A	-0.19%
MU	D	-0.19%
GWRE	A	-0.2%
FMX	F	-0.21%
URI	B	-0.21%
HSBC	A	-0.22%
PCAR	C	-0.22%
CCEP	D	-0.23%
DEO	F	-0.23%
PG	C	-0.25%
KR	B	-0.25%
TYL	B	-0.25%
PANW	B	-0.25%
OMC	C	-0.27%
SAP	B	-0.28%
GEHC	D	-0.28%
NSC	B	-0.28%
INTC	C	-0.3%
ISRG	A	-0.31%
UL	D	-0.31%
SNPS	C	-0.31%
WAT	C	-0.31%
TTWO	A	-0.32%
BABA	D	-0.32%
LMT	D	-0.33%
MDLZ	F	-0.33%
NOW	B	-0.35%
ZBH	C	-0.36%
CMI	A	-0.36%
BK	B	-0.37%
TXN	C	-0.38%
HDB	B	-0.39%
ASML	F	-0.4%
MSI	B	-0.41%
WM	B	-0.46%
MLM	B	-0.49%
DE	C	-0.5%
PNC	B	-0.5%
VRSK	B	-0.54%
PEP	F	-0.57%
ETN	B	-0.58%
PAYX	B	-0.58%
LIN	D	-0.6%
TSLA	A	-0.61%
DIS	B	-0.66%
CMCSA	B	-0.67%
APD	A	-0.69%
CDNS	B	-0.69%

FTLS Underweight 47 Positions Relative to ICAP

Symbol	Grade	Weight
GS	B	-6.11%
EQIX	A	-4.16%
KRC	C	-4.04%
MTB	A	-3.84%
MPLX	A	-3.29%
BXP	D	-3.23%
AES	F	-3.1%
CFG	B	-3.09%
FRT	B	-2.9%
DLR	A	-2.76%
SLMBP	C	-2.76%
AB	B	-2.39%
ARE	F	-2.15%
NYMTN	D	-1.94%
KHC	F	-1.87%
UGI	C	-1.87%
BAC	A	-1.86%
REXR	F	-1.73%
EIX	C	-1.65%
SPG	A	-1.65%
VOD	D	-1.52%
ARES	A	-1.45%
DOW	F	-1.28%
O	C	-1.27%
SO	C	-1.26%
HPE	B	-1.23%
BLMN	F	-1.21%
CCI	C	-1.08%
FITB	B	-1.02%
MRK	F	-0.87%
NWN	A	-0.73%
IRM	C	-0.65%
RTX	D	-0.62%
AMT	D	-0.55%
D	C	-0.5%
CAT	C	-0.36%
VZ	C	-0.36%
MS	A	-0.34%
RRR	F	-0.29%
NEE	C	-0.26%
DUK	C	-0.21%
NEE	C	-0.2%
OKE	A	-0.18%
T	A	-0.18%
KO	D	-0.07%
ET	A	-0.03%
UZE	A	-0.01%