HSMV vs. CLSE ETF Comparison

Comparison of First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) to Convergence Long/Short Equity ETF (CLSE)

HSMV

First Trust Horizon Managed Volatility Small/Mid ETF

HSMV Description

The investment seeks to provide investors with capital appreciation. Under normal market conditions, the fund seeks to achieve its investment objective by investing at least 80% of its net assets (including investment borrowings) in small- and/or mid-capitalization common stocks listed and traded on U.S. national securities exchanges that Sub-Advisor believes exhibit low future expected volatility. It is non-diversified.

Grade (RS Rating)

Last Trade

$38.09

Average Daily Volume

1,340

Number of Holdings ^*

147

* may have additional holdings in another (foreign) market

CLSE

Convergence Long/Short Equity ETF

CLSE Description

The investment seeks long-term capital growth. The fund seeks to invest, under normal market conditions, at least 80% of its net assets (plus any borrowings for investment purposes) in long and short positions in equity securities of domestic companies. The adviser intends to maintain a net long exposure (the market value of long positions minus the market value of short positions) of approximately 50% to 100%. Under normal market conditions, the fund’s long positions may range from approximately 90% to 150% and its short positions may range from approximately 20% to 70%.

Grade (RS Rating)

Last Trade

$23.68

Average Daily Volume

65,624

Number of Holdings ^*

337

* may have additional holdings in another (foreign) market

Performance

Period	HSMV	CLSE
30 Days	3.72%	4.18%
60 Days	5.02%	7.10%
90 Days	5.82%	9.38%
12 Months	26.13%	39.93%

28 Overlapping Holdings

Symbol	Grade	Weight in HSMV	Weight in CLSE	Overlap
ABM	B	0.36%	0.19%	0.19%
AGCO	D	0.31%	-0.18%	-0.18%
AGO	B	0.67%	-0.16%	-0.16%
AMG	B	0.63%	0.58%	0.58%
AVA	A	0.76%	0.47%	0.47%
AVT	C	0.49%	0.66%	0.49%
CACI	D	1.29%	0.48%	0.48%
CDP	C	0.63%	0.34%	0.34%
CHDN	B	0.45%	-0.18%	-0.18%
COOP	B	0.35%	-0.07%	-0.07%
CTRE	C	1.54%	0.42%	0.42%
GATX	A	0.56%	-0.2%	-0.2%
GNTX	C	0.99%	-0.09%	-0.09%
IDCC	B	0.77%	1.51%	0.77%
JAZZ	B	0.33%	0.16%	0.16%
JHG	B	0.66%	1.21%	0.66%
LAMR	C	0.43%	0.31%	0.31%
MTN	C	0.29%	-0.22%	-0.22%
MUSA	B	0.47%	0.2%	0.2%
OSK	C	0.28%	-0.16%	-0.16%
PCH	F	0.19%	-0.12%	-0.12%
R	B	0.3%	0.38%	0.3%
REXR	F	0.2%	-0.14%	-0.14%
RGA	A	0.67%	0.55%	0.55%
RGLD	C	0.34%	0.32%	0.32%
RNR	C	0.67%	-0.15%	-0.15%
RYN	D	0.42%	-0.07%	-0.07%
SEIC	B	1.89%	0.95%	0.95%

HSMV Overweight 119 Positions Relative to CLSE

Symbol	Grade	Weight
ATR	B	2.09%
DTM	A	2.06%
ORI	A	1.76%
IDA	A	1.65%
INGR	C	1.65%
OGE	A	1.59%
POST	C	1.56%
RLI	A	1.42%
MSGS	A	1.4%
ADC	A	1.34%
DCI	B	1.33%
FHI	B	1.26%
AMH	C	1.24%
NJR	A	1.24%
AM	A	1.21%
NFG	A	1.18%
FLO	D	1.17%
CHE	D	1.16%
NWE	B	1.13%
OHI	C	1.08%
AFG	A	1.08%
POR	C	1.07%
GGG	B	1.06%
NNN	C	1.01%
GLPI	C	0.99%
NYT	D	0.95%
BKH	A	0.9%
EHC	B	0.9%
MMS	F	0.89%
FCPT	C	0.86%
DLB	B	0.85%
CBSH	B	0.83%
ELS	C	0.81%
MSA	F	0.8%
EPR	C	0.79%
PRI	B	0.78%
LSTR	D	0.76%
PBH	A	0.76%
EFC	C	0.76%
KBR	F	0.75%
PECO	A	0.74%
LOPE	C	0.74%
ENSG	C	0.73%
AWR	B	0.72%
OGS	A	0.72%
SF	B	0.72%
RPM	A	0.68%
SLGN	A	0.68%
CPK	A	0.67%
CW	C	0.67%
ESNT	F	0.67%
EPRT	B	0.65%
MDU	D	0.64%
EGP	D	0.63%
SCI	B	0.62%
PRGS	A	0.58%
ACM	B	0.57%
FELE	B	0.56%
CHH	A	0.56%
MTG	C	0.55%
SBRA	C	0.55%
COLM	C	0.55%
NMIH	C	0.55%
RS	B	0.54%
BCPC	B	0.53%
FLS	B	0.52%
CWT	C	0.51%
FNF	B	0.51%
EPC	F	0.49%
FCN	F	0.49%
BRX	A	0.48%
BWXT	B	0.48%
LANC	C	0.46%
JEF	A	0.46%
PFGC	B	0.45%
FR	D	0.45%
ARW	D	0.45%
PB	B	0.45%
CNO	B	0.44%
MSM	C	0.44%
ENR	B	0.43%
BLKB	B	0.41%
RDN	D	0.4%
FAF	A	0.4%
FNB	A	0.38%
ITT	A	0.38%
CLH	C	0.38%
EXEL	B	0.38%
ASH	F	0.36%
GPK	C	0.36%
BJ	A	0.36%
G	B	0.35%
IOSP	C	0.35%
SAIC	F	0.35%
LXP	D	0.34%
EVR	B	0.34%
LECO	C	0.34%
CSL	C	0.33%
MAN	F	0.32%
KEX	B	0.31%
JJSF	C	0.31%
ONB	C	0.31%
KFY	B	0.29%
ALV	C	0.29%
MIDD	C	0.28%
EVTC	B	0.28%
ORA	B	0.27%
PLXS	B	0.27%
CASY	A	0.26%
LII	A	0.26%
HRB	D	0.26%
FSS	B	0.24%
LFUS	D	0.24%
CUBE	C	0.24%
AIN	C	0.24%
IRT	A	0.23%
HXL	F	0.22%
CRI	F	0.21%
NSA	C	0.13%

HSMV Underweight 309 Positions Relative to CLSE

Symbol	Grade	Weight
NVDA	B	-4.61%
GOOGL	C	-3.47%
META	D	-3.3%
AMZN	C	-2.53%
AVGO	D	-2.28%
APP	B	-2.25%
MU	D	-2.13%
HPE	B	-1.92%
CVNA	B	-1.85%
ANET	C	-1.83%
WMT	A	-1.82%
QCOM	F	-1.73%
GDDY	A	-1.42%
CVLT	B	-1.4%
DOCU	B	-1.37%
PYPL	B	-1.33%
ORCL	A	-1.33%
ACIW	B	-1.3%
TSLA	B	-1.22%
NTNX	B	-1.16%
HD	B	-1.13%
SYF	B	-1.11%
BMY	B	-1.11%
NTRS	A	-1.08%
GILD	C	-1.07%
SNEX	B	-1.06%
PLTR	B	-1.02%
NTAP	C	-1.0%
LNG	A	-0.97%
HALO	F	-0.9%
AMRX	C	-0.9%
BFH	C	-0.88%
GM	C	-0.87%
COR	B	-0.86%
CAH	B	-0.86%
PPC	C	-0.85%
GVA	A	-0.84%
MLI	B	-0.84%
CARG	B	-0.83%
AAPL	C	-0.83%
JNJ	C	-0.83%
BAC	A	-0.81%
PRIM	A	-0.8%
MO	A	-0.79%
NFLX	A	-0.79%
THC	D	-0.78%
FITB	B	-0.78%
DVA	C	-0.78%
IESC	C	-0.77%
CPNG	D	-0.77%
EME	A	-0.75%
WFC	A	-0.75%
CNX	A	-0.74%
FTI	A	-0.74%
UTHR	C	-0.73%
PNC	B	-0.72%
ABBV	F	-0.72%
RF	A	-0.72%
STRL	A	-0.71%
ZION	B	-0.71%
CMA	B	-0.71%
NRG	B	-0.71%
UHS	D	-0.7%
TMUS	B	-0.7%
CEIX	A	-0.7%
GEN	B	-0.68%
VRT	B	-0.68%
APH	A	-0.67%
UMBF	B	-0.66%
ALSN	B	-0.66%
MTZ	B	-0.66%
MWA	B	-0.65%
BLK	B	-0.65%
JPM	A	-0.64%
CHRW	B	-0.61%
EXPE	B	-0.61%
TSN	B	-0.6%
FFIV	B	-0.6%
FTDR	B	-0.58%
LDOS	C	-0.55%
VST	A	-0.55%
GLW	B	-0.52%
MET	A	-0.52%
SLVM	B	-0.5%
GOOG	C	-0.49%
UI	B	-0.49%
EXP	B	-0.48%
PNW	A	-0.48%
UNP	C	-0.47%
PGR	A	-0.46%
DUOL	A	-0.45%
PG	C	-0.45%
ALL	A	-0.45%
BKNG	A	-0.44%
LPX	B	-0.43%
SCCO	F	-0.41%
RMD	C	-0.4%
JXN	C	-0.39%
SR	A	-0.38%
SPG	A	-0.37%
CNA	C	-0.37%
CF	A	-0.37%
GRMN	B	-0.37%
OUT	A	-0.36%
EQR	C	-0.35%
CCL	A	-0.35%
CNC	D	-0.31%
PTON	A	-0.31%
J	D	-0.31%
MPWR	F	-0.3%
CVS	D	-0.29%
VLO	C	-0.29%
T	A	-0.29%
MDT	D	-0.29%
IIPR	D	-0.28%
APA	D	-0.25%
NVR	D	-0.24%
VRTX	D	-0.23%
MATX	C	-0.22%
NEM	D	-0.22%
TOL	B	-0.22%
EEFT	B	-0.22%
FLR	B	-0.21%
JLL	D	-0.2%
BAH	F	-0.18%
KR	B	-0.17%
NTRA	A	-0.17%
BOX	B	-0.17%
FOXA	A	-0.14%
EXPD	C	-0.14%
FN	C	-0.13%
PRU	A	-0.13%
VCTR	B	-0.12%
VCYT	B	-0.12%
CINF	A	-0.12%
CDE	C	-0.11%
ILMN	C	-0.1%
AEIS	C	-0.07%
INCY	C	-0.07%
HQY	A	-0.07%
QQQ	B	-0.0%
LNTH	D	-0.0%
LRCX	F	-0.0%
PENN	C	--0.05%
KNX	C	--0.06%
HGV	C	--0.06%
HUN	F	--0.07%
EXAS	D	--0.07%
CCS	D	--0.07%
BC	C	--0.08%
JOE	F	--0.08%
AES	F	--0.08%
FLYW	B	--0.08%
JBLU	F	--0.09%
NSC	B	--0.1%
MCW	C	--0.1%
ABG	C	--0.1%
ATO	A	--0.1%
ACVA	B	--0.11%
ENPH	F	--0.11%
CGON	F	--0.11%
EL	F	--0.12%
RBA	A	--0.12%
FL	F	--0.12%
DLR	B	--0.13%
EXR	C	--0.13%
STLD	B	--0.13%
AVAV	C	--0.13%
ALIT	C	--0.13%
VMC	B	--0.13%
MLM	C	--0.13%
BPOP	C	--0.14%
PYCR	B	--0.14%
DAY	B	--0.14%
ARWR	D	--0.14%
MKL	A	--0.14%
AA	A	--0.14%
EQIX	A	--0.14%
CZR	F	--0.15%
COLD	D	--0.15%
APD	A	--0.15%
GTLS	A	--0.15%
CRL	D	--0.15%
DRVN	B	--0.15%
NARI	C	--0.16%
FIVN	C	--0.16%
BHF	C	--0.16%
XPO	B	--0.16%
LGIH	F	--0.16%
DAR	C	--0.16%
ALB	B	--0.16%
UHAL	D	--0.16%
EW	C	--0.16%
SITE	F	--0.16%
SW	A	--0.17%
TEX	F	--0.17%
TREX	C	--0.17%
MDGL	B	--0.17%
LKQ	F	--0.17%
MASI	B	--0.17%
AJG	A	--0.17%
KRG	B	--0.17%
ENOV	C	--0.18%
UEC	B	--0.18%
EBC	B	--0.18%
COTY	F	--0.18%
AL	B	--0.18%
CNH	C	--0.18%
BRKR	D	--0.18%
C	A	--0.19%
WAL	B	--0.19%
AIR	B	--0.19%
KNSL	B	--0.2%
SRE	A	--0.2%
BIRK	D	--0.2%
BE	B	--0.21%
AESI	B	--0.21%
NOG	B	--0.21%
WTM	A	--0.21%
PRCT	B	--0.22%
BANC	B	--0.22%
SAIA	B	--0.22%
SUM	B	--0.22%
EQT	B	--0.23%
PSA	C	--0.23%
XYL	D	--0.23%
WTRG	B	--0.24%
ELF	C	--0.24%
IONS	F	--0.24%
GPOR	B	--0.24%
CELH	F	--0.24%
HSY	F	--0.24%
DELL	B	--0.25%
LW	C	--0.25%
KEY	B	--0.25%
BILL	A	--0.26%
NEOG	F	--0.26%
AUR	C	--0.26%
AWK	C	--0.26%
VAL	F	--0.27%
FOUR	A	--0.27%
STNE	F	--0.27%
TEAM	A	--0.27%
MSCI	C	--0.27%
PTEN	C	--0.27%
MNST	C	--0.28%
SOFI	B	--0.28%
ESTC	C	--0.29%
MDB	B	--0.29%
XP	F	--0.29%
MKTX	D	--0.29%
CYTK	F	--0.3%
LYV	A	--0.3%
NDAQ	A	--0.3%
APLS	F	--0.3%
APTV	F	--0.32%
GTLB	B	--0.32%
VVV	D	--0.33%
CCOI	B	--0.33%
LPLA	A	--0.34%
ZBRA	B	--0.34%
ABNB	C	--0.34%
INSP	D	--0.34%
FCNCA	A	--0.35%
APO	B	--0.35%
AFRM	A	--0.35%
CACC	D	--0.36%
COHR	B	--0.36%
BBIO	F	--0.36%
ZI	D	--0.36%
BEN	C	--0.36%
ON	D	--0.39%
DG	F	--0.4%
SATS	D	--0.4%
BA	F	--0.4%
RBLX	C	--0.41%
DLTR	F	--0.41%
PINS	F	--0.41%
U	C	--0.41%
RIVN	F	--0.42%
TTWO	A	--0.43%
WBD	B	--0.43%
SNPS	B	--0.44%
ALGM	D	--0.45%
DV	C	--0.45%
CGNX	D	--0.45%
GE	D	--0.46%
CDNS	B	--0.46%
MRNA	F	--0.47%
SMCI	F	--0.47%
RH	C	--0.47%
CFLT	B	--0.47%
CHTR	C	--0.48%
CSCO	B	--0.52%
FND	D	--0.53%
BRZE	C	--0.56%
FIVE	F	--0.56%
NWS	A	--0.57%
WST	C	--0.59%
LITE	B	--0.6%
POOL	C	--0.61%
MCHP	F	--0.63%
DXCM	C	--0.63%
WDC	D	--0.65%
LSCC	D	--0.7%
ROP	B	--0.7%
TXN	C	--0.81%
INTC	C	--0.93%
FSLR	F	--1.26%