HSMV vs. SRS ETF Comparison

Comparison of First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) to ProShares UltraShort Real Estate (SRS)

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

$36.57

Average Daily Volume

1,236

Number of Holdings ^*

146

* may have additional holdings in another (foreign) market

SRS

ProShares UltraShort Real Estate

SRS Description

The investment seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the Dow Jones U.S. Real EstateSM Index. The fund invests in derivatives that ProShare Advisors believes, in combination, should have similar daily return characteristics as two times the inverse (-2x) of the daily return of the index. The index measures the performance of the real estate sector of the U.S. equity market. Component companies include, among others, real estate holding and development and real estate services companies and real estate investment trusts ("REITs"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$11.34

Average Daily Volume

47,574

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	HSMV	SRS
30 Days	3.36%	-10.64%
60 Days	4.98%	-17.16%
90 Days	9.57%	-26.13%
12 Months	20.43%	-35.88%

16 Overlapping Holdings

Symbol	Grade	Weight in HSMV	Weight in SRS	Overlap
AMH	C	1.37%	0.54%	0.54%
BRX	B	0.47%	0.48%	0.47%
CUBE	B	0.28%	0.47%	0.28%
EGP	B	0.72%	0.41%	0.41%
ELS	C	0.87%	1.0%	0.87%
EPR	B	0.89%	0.44%	0.44%
FR	B	0.49%	0.42%	0.42%
GLPI	C	1.06%	0.72%	0.72%
LAMR	B	0.45%	0.62%	0.45%
LXP	B	0.39%	0.21%	0.21%
NNN	C	1.18%	0.74%	0.74%
OHI	B	1.14%	0.74%	0.74%
PCH	C	0.21%	0.23%	0.21%
REXR	C	0.24%	0.41%	0.24%
RYN	C	0.45%	0.32%	0.32%
SBRA	C	0.59%	0.33%	0.33%

HSMV Overweight 130 Positions Relative to SRS

Symbol	Grade	Weight
ATR	B	1.98%
ORI	B	1.7%
POST	C	1.69%
SEIC	C	1.64%
INGR	B	1.64%
CTRE	C	1.63%
DTM	B	1.62%
OGE	C	1.55%
IDA	C	1.48%
CACI	B	1.44%
MSGS	B	1.37%
ADC	C	1.36%
FLO	C	1.3%
DCI	C	1.29%
RLI	B	1.28%
NJR	B	1.27%
CHE	C	1.25%
AM	C	1.21%
NWE	B	1.19%
NFG	B	1.19%
POR	C	1.15%
FHI	A	1.1%
AFG	B	1.09%
NYT	C	1.03%
MMS	C	1.02%
GNTX	F	1.01%
GGG	C	1.01%
FCPT	C	0.94%
MDU	C	0.94%
BKH	B	0.9%
DLB	D	0.89%
MSA	D	0.88%
EHC	C	0.86%
EFC	B	0.85%
KBR	D	0.82%
ESNT	B	0.79%
ENSG	B	0.79%
AVA	C	0.78%
LSTR	D	0.78%
PECO	B	0.75%
AWR	B	0.74%
CBSH	C	0.74%
OGS	B	0.72%
PBH	B	0.7%
RNR	C	0.69%
PRI	B	0.68%
LOPE	D	0.67%
CPK	B	0.66%
SLGN	B	0.66%
EPRT	B	0.66%
RGA	C	0.65%
RPM	B	0.63%
CW	B	0.62%
NMIH	B	0.62%
AGO	C	0.61%
AMG	C	0.61%
SCI	B	0.6%
JHG	B	0.58%
COLM	C	0.58%
FCN	D	0.58%
IDCC	B	0.58%
SF	A	0.58%
CWT	C	0.57%
MTG	B	0.57%
FELE	C	0.54%
FNF	B	0.53%
EPC	F	0.53%
PRGS	C	0.53%
ACM	B	0.53%
BCPC	C	0.53%
GATX	D	0.52%
ARW	C	0.52%
CHH	C	0.51%
RS	D	0.5%
MUSA	D	0.49%
AVT	C	0.49%
CHDN	C	0.47%
LANC	D	0.47%
MSM	D	0.45%
BLKB	C	0.43%
PFGC	B	0.42%
ASH	D	0.42%
RDN	C	0.42%
FAF	B	0.42%
FLS	D	0.42%
PB	B	0.41%
CNO	B	0.4%
SAIC	C	0.4%
BWXT	D	0.39%
JEF	B	0.39%
GPK	B	0.39%
CLH	A	0.39%
ENR	D	0.38%
MAN	C	0.38%
ITT	B	0.36%
IOSP	D	0.35%
COOP	C	0.35%
RGLD	C	0.34%
FNB	C	0.34%
BJ	D	0.34%
ABM	D	0.34%
CSL	B	0.33%
JJSF	C	0.33%
EXEL	C	0.32%
LECO	F	0.32%
JAZZ	D	0.32%
MTN	D	0.31%
G	C	0.31%
AGCO	D	0.31%
KEX	C	0.3%
KFY	B	0.29%
ONB	C	0.29%
MIDD	D	0.29%
CRI	D	0.29%
EVR	A	0.29%
ALV	F	0.29%
OSK	F	0.28%
EVTC	D	0.28%
HRB	C	0.28%
R	A	0.27%
LII	B	0.26%
LFUS	C	0.26%
ORA	C	0.26%
AIN	D	0.26%
HXL	F	0.24%
FSS	D	0.24%
CASY	D	0.24%
PLXS	A	0.23%
IRT	B	0.23%
NSA	B	0.15%

HSMV Underweight 71 Positions Relative to SRS

Symbol	Grade	Weight
AMT	C	-8.05%
CCI	C	-4.7%
PLD	C	-4.64%
EQIX	C	-3.91%
SPG	B	-3.53%
WELL	C	-2.73%
PSA	B	-2.58%
AVB	B	-2.35%
EQR	B	-2.24%
SBAC	C	-2.21%
DLR	B	-2.02%
O	C	-1.94%
CSGP	D	-1.85%
WY	C	-1.8%
VTR	C	-1.71%
ESS	B	-1.59%
CBRE	A	-1.59%
BXP	B	-1.56%
ARE	C	-1.46%
DOC	C	-1.4%
INVH	C	-1.28%
MAA	B	-1.19%
EXR	B	-1.13%
WPC	C	-1.12%
SUI	B	-1.12%
NLY	B	-1.08%
UDR	C	-1.08%
HST	C	-1.0%
MPW	C	-0.9%
VNO	B	-0.83%
CPT	B	-0.83%
REG	C	-0.82%
AGNC	B	-0.77%
VICI	C	-0.76%
FRT	C	-0.71%
IRM	C	-0.7%
JLL	B	-0.69%
KIM	C	-0.67%
KRC	B	-0.63%
AIV	B	-0.61%
SLG	B	-0.58%
STWD	B	-0.56%
DEI	B	-0.54%
COLD	D	-0.53%
CUZ	B	-0.48%
PK	D	-0.46%
HPP	D	-0.45%
HHH	C	-0.42%
HIW	B	-0.41%
BXMT	C	-0.39%
RHP	C	-0.37%
JBGS	C	-0.37%
HR	C	-0.36%
TWO	B	-0.32%
OUT	C	-0.32%
CIM	B	-0.31%
SVC	D	-0.31%
EQC	C	-0.31%
NHI	C	-0.29%
DSS	F	-0.28%
MFA	B	-0.28%
APLE	D	-0.26%
PEB	D	-0.26%
SHO	C	-0.24%
RLJ	D	-0.23%
PDM	B	-0.23%
BDN	B	-0.22%
PGRE	C	-0.22%
MAC	B	-0.22%
IVR	D	-0.19%
XHR	B	-0.18%