FTXL vs. CBLS ETF Comparison

Comparison of First Trust Nasdaq Semiconductor ETF (FTXL) to Changebridge Capital Long/Short Equity ETF (CBLS)

FTXL

First Trust Nasdaq Semiconductor ETF

FTXL Description

The First Trust Nasdaq Semiconductor ETF is an exchange-traded fund. The investment objective of the Fund is to seek investment results that correspond generally to the price and yield, before the Fund's fees and expenses, of an index called the Nasdaq US Smart Semiconductor Index. The Fund seeks to replicate the holdings and weightings of the Nasdaq US Smart Semiconductor Index so as to generate performance results 95% correlated to that of the Nasdaq US Smart Semiconductor Index.

Grade (RS Rating)

Last Trade

$99.86

Average Daily Volume

34,851

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

$25.59

Average Daily Volume

24,942

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FTXL	CBLS
30 Days	6.36%	1.07%
60 Days	17.00%	10.85%
90 Days	11.44%	11.24%
12 Months	41.14%	31.46%

5 Overlapping Holdings

Symbol	Grade	Weight in FTXL	Weight in CBLS	Overlap
AVGO	B	8.65%	1.85%	1.85%
INTC	F	5.04%	-1.34%	-1.34%
KLAC	B	4.23%	1.43%	1.43%
LRCX	B	3.99%	2.33%	2.33%
NVDA	B	11.11%	2.3%	2.3%

FTXL Overweight 26 Positions Relative to CBLS

Symbol	Grade	Weight
QCOM	B	8.77%
AMAT	B	8.18%
AMKR	B	4.44%
ADI	B	4.19%
TXN	B	4.1%
MCHP	C	3.77%
NXPI	B	3.76%
SWKS	B	3.57%
ON	D	3.05%
TER	B	2.77%
MRVL	B	2.48%
COHR	B	2.14%
QRVO	B	2.13%
ENTG	B	2.1%
MPWR	B	2.03%
AMD	C	1.71%
VSH	F	1.29%
CRUS	A	1.15%
DIOD	F	0.96%
AVT	C	0.67%
ONTO	B	0.66%
FORM	B	0.62%
ACLS	B	0.62%
ALGM	F	0.58%
LSCC	F	0.57%
RMBS	C	0.55%

FTXL Underweight 76 Positions Relative to CBLS

Symbol	Grade	Weight
LLY	A	-2.69%
TSM	B	-2.55%
LNG	B	-2.55%
DELL	B	-2.47%
MU	B	-2.43%
CRSP	D	-2.42%
MMYT	B	-2.41%
MSFT	A	-2.26%
STRL	C	-2.26%
AAPL	A	-2.21%
IBN	A	-2.2%
ASML	B	-2.18%
SN	B	-2.16%
SBUX	F	-2.08%
OSW	B	-2.02%
WTTR	B	-1.99%
NARI	C	-1.99%
NU	B	-1.98%
HLX	A	-1.96%
CHK	D	-1.95%
SKY	F	-1.94%
TDG	C	-1.88%
RDDT	B	-1.87%
GTLS	F	-1.81%
RIG	F	-1.8%
ERJ	D	-1.8%
ECL	B	-1.73%
ONON	B	-1.67%
RTX	D	-1.67%
ARCO	F	-1.66%
MGNI	B	-1.65%
AEHR	F	-1.63%
GD	C	-1.61%
ICFI	D	-1.6%
BKNG	B	-1.33%
MELI	C	-1.23%
NOW	B	--0.48%
SIG	F	--0.71%
CWAN	D	--0.71%
HAYW	F	--0.74%
FIGS	C	--0.76%
SITE	F	--0.76%
LAD	D	--0.8%
BC	F	--0.81%
CTVA	C	--0.82%
HELE	F	--0.83%
MIDD	F	--0.86%
PAYX	D	--0.86%
ROK	D	--0.86%
CHH	B	--0.87%
BX	B	--0.87%
ENR	C	--0.88%
BXP	B	--0.88%
KEY	C	--0.9%
APO	A	--0.91%
SEDG	F	--0.91%
ARE	C	--0.91%
BGFV	F	--0.94%
IBM	B	--0.95%
FAST	D	--0.95%
OZK	D	--0.95%
CMA	C	--0.98%
PLUG	F	--0.99%
MPW	F	--0.99%
KMT	F	--1.0%
PH	D	--1.0%
IR	C	--1.01%
ZION	C	--1.01%
MTB	B	--1.04%
DASH	D	--1.17%
GPS	B	--1.22%
F	C	--1.41%
HOG	F	--1.43%
DECK	B	--1.44%
TSLA	B	--1.48%
CVNA	B	--1.51%