GIAX vs. OCIO ETF Comparison

Comparison of Nicholas Global Equity and Income ETF (GIAX) to ClearShares OCIO ETF (OCIO)

GIAX

Nicholas Global Equity and Income ETF

GIAX Description

The fund"s strategy includes two components: (i) holding shares of unaffiliated passively managed ETFs that seek to provide exposure to a range of global equity securities ("Index ETFs") and (ii) selling daily index credit call spreads ("Index Call Spreads") on one or more US equity indices. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$19.78

Average Daily Volume

15,865

Number of Holdings ^*

10

* may have additional holdings in another (foreign) market

OCIO

ClearShares OCIO ETF

OCIO Description

The investment seeks to outperform a traditional 60/40 mix of global equity and fixed-income investments. The fund is expected to typically invest approximately 40% to 70% of its total assets in underlying funds that principally invest in equity securities of any market capitalization. It is expected to typically invest approximately 20% to 50% of its total assets in underlying funds that principally invest in debt obligations.

Grade (RS Rating)

Last Trade

$33.98

Average Daily Volume

2,720

Number of Holdings ^*

15

* may have additional holdings in another (foreign) market

Performance

Period	GIAX	OCIO
30 Days	3.50%	2.79%
60 Days	6.99%	8.07%
90 Days		2.01%
12 Months		19.14%

1 Overlapping Holdings

	Symbol	Grade	Weight in GIAX	Weight in OCIO	Overlap
	QQQ	B	8.22%	5.7%	5.7%

GIAX Overweight 9 Positions Relative to OCIO

	Symbol	Grade	Weight
	VEA	C	16.69%
	VIG	A	16.61%
	VOO	A	16.49%
	VTWO	B	16.44%
	ARGT	C	4.24%
	FLIN	D	3.92%
	FRDM	C	3.55%
	UMC	D	1.98%
	TSM	B	1.98%

GIAX Underweight 14 Positions Relative to OCIO

	Symbol	Grade	Weight
	SPMO	A	-5.04%
	IEI	C	-4.55%
	OPER	A	-4.08%
	SCHF	C	-3.23%
	GVI	B	-3.18%
	HEFA	A	-3.18%
	SCHK	A	-2.98%
	SHY	B	-2.64%
	IEF	D	-1.85%
	VGIT	C	-1.37%
	IXUS	A	-1.01%
	EYLD	C	-0.94%
	EMXC	C	-0.78%
	CGV	C	-0.5%

GIAX: Top Represented Industries & Keywords

Industries: Semiconductors

Keywords: Exchange Traded Fund ETF Stock Market Index Index Fund Active Management Semiconductor Device Fabrication Exchange Traded Funds Fabless Semiconductor Companies Ftse 100 Index Ftse Asfa Australia All Share Index Ftse Developed Europe Index Financials Ftse Group Integrated Circuits Invesco Powershares Investment Management Nasdaq 100 Nasdaq 100 Index Nasdaq Composite Index On Semiconductor Process Technologies

OCIO: Top Represented Industries & Keywords

Industries:

Keywords: ETF Exchange Traded Fund Bloomberg Barclays Us Aggregate Bond Index Bond Stock Market Index U.S. Government U.S. Treasury Bond Market Exchange Traded Funds Government Bonds Betashares Bond Market Indices Index Fund MSCI EAFE Bear Market ETF Bond Fund Corporate Bond Currency Debt Dividend