INRO vs. FLQL ETF Comparison

Comparison of BlackRock U.S. Industry Rotation ETF (INRO) to Franklin LibertyQ U.S. Equity ETF (FLQL)

INRO

BlackRock U.S. Industry Rotation ETF

INRO Description

INRO is targeted US equity exposure, actively managed by shifting the selection and weighting of the portfolio towards industries among the broad domestic market. Portfolio allocation is based on five potential sources of return: information regarding the current economic cycle, valuation, quality metrics, analyst expectation data and recent individual industry trends. The strategy aims to capture the potential alpha from the dispersion between industry allocations and the broad market. During temporary defensive periods, the fund may depart from this principal investment strategy to invest 100% of the portfolio in liquid, short-term securities. The fund may engage in active and frequent trading. Derivatives may also be used to seek returns or hedge exposure. Up to one-third of the value of the funds assets may be lending.

Grade (RS Rating)

Last Trade

$28.39

Average Daily Volume

3,548

Number of Holdings ^*

429

* may have additional holdings in another (foreign) market

FLQL

Franklin LibertyQ U.S. Equity ETF

FLQL Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the LibertyQ U.S. Large Cap Equity Index (the U.S. Large Cap underlying index). Under normal market conditions, the fund invests at least 80% of its assets in the component securities of the U.S. Large Cap underlying index. The U.S. Large Cap underlying index is based on the Russell 1000® Index using a methodology developed with Franklin Templeton to reflect Franklin Templeton's desired investment strategy.

Grade (RS Rating)

Last Trade

$59.85

Average Daily Volume

76,630

Number of Holdings ^*

210

* may have additional holdings in another (foreign) market

Performance

Period	INRO	FLQL
30 Days	5.09%	2.44%
60 Days	6.25%	3.55%
90 Days	7.10%	4.50%
12 Months		31.26%

116 Overlapping Holdings

Symbol	Grade	Weight in INRO	Weight in FLQL	Overlap
AAPL	C	5.76%	7.0%	5.76%
ABBV	D	0.39%	1.33%	0.39%
ACGL	D	0.05%	0.26%	0.05%
ADI	D	0.22%	0.32%	0.22%
AFL	B	0.09%	0.23%	0.09%
AMAT	F	0.3%	0.96%	0.3%
AMCR	D	0.07%	0.09%	0.07%
AMGN	D	0.2%	1.05%	0.2%
AMZN	C	1.47%	2.92%	1.47%
APA	D	0.01%	0.08%	0.01%
APH	A	0.19%	0.6%	0.19%
APP	B	0.1%	0.42%	0.1%
AVB	B	0.01%	0.1%	0.01%
AVGO	D	1.54%	1.77%	1.54%
BBY	D	0.05%	0.11%	0.05%
BRK.A	B	0.06%	1.11%	0.06%
C	A	0.34%	0.97%	0.34%
CAT	B	0.35%	1.27%	0.35%
CB	C	0.17%	0.56%	0.17%
CFG	B	0.06%	0.13%	0.06%
CHRW	C	0.0%	0.1%	0.0%
CMI	A	0.1%	0.26%	0.1%
COST	B	0.47%	1.7%	0.47%
CSL	C	0.14%	0.15%	0.14%
CTAS	B	0.34%	0.46%	0.34%
CTSH	B	0.01%	0.24%	0.01%
DAL	C	0.03%	0.2%	0.03%
DELL	C	0.07%	0.19%	0.07%
DHI	D	0.33%	0.36%	0.33%
DKS	C	0.03%	0.1%	0.03%
DVN	F	0.04%	0.08%	0.04%
EBAY	D	0.02%	0.17%	0.02%
EME	C	0.19%	0.12%	0.12%
ESS	B	0.01%	0.11%	0.01%
ETR	B	0.2%	0.16%	0.16%
EXR	D	0.04%	0.11%	0.04%
FANG	D	0.06%	0.2%	0.06%
FAST	B	0.4%	0.33%	0.33%
FICO	B	0.08%	0.17%	0.08%
GD	F	0.03%	0.39%	0.03%
GLPI	C	0.02%	0.09%	0.02%
GLW	B	0.09%	0.19%	0.09%
GM	B	0.09%	0.35%	0.09%
GOOG	C	2.72%	1.73%	1.73%
GOOGL	C	3.13%	2.04%	2.04%
GRMN	B	0.22%	0.25%	0.22%
GS	A	0.64%	0.6%	0.6%
GWW	B	0.44%	0.38%	0.38%
HIG	B	0.05%	0.19%	0.05%
HPE	B	0.05%	0.21%	0.05%
HPQ	B	0.06%	0.29%	0.06%
HWM	A	0.02%	0.25%	0.02%
IBM	C	0.06%	1.31%	0.06%
IP	B	0.09%	0.13%	0.09%
IRM	D	0.04%	0.18%	0.04%
JNJ	D	0.37%	1.55%	0.37%
JPM	A	1.74%	1.23%	1.23%
KLAC	D	0.17%	0.67%	0.17%
LDOS	C	0.05%	0.17%	0.05%
LEN	D	0.28%	0.3%	0.28%
LEN	D	0.28%	0.09%	0.09%
LII	A	0.14%	0.15%	0.14%
LLY	F	0.57%	1.31%	0.57%
LMT	D	0.05%	0.4%	0.05%
LRCX	F	0.19%	0.66%	0.19%
LYB	F	0.0%	0.16%	0.0%
MA	C	0.04%	1.79%	0.04%
MAS	D	0.12%	0.12%	0.12%
MCHP	D	0.08%	0.23%	0.08%
MCO	B	0.28%	0.56%	0.28%
META	D	3.68%	2.48%	2.48%
MO	A	0.41%	0.85%	0.41%
MPWR	F	0.06%	0.09%	0.06%
MRK	F	0.24%	1.21%	0.24%
MSFT	F	4.24%	5.96%	4.24%
NRG	B	0.12%	0.12%	0.12%
NTAP	C	0.04%	0.21%	0.04%
NVDA	C	7.62%	6.71%	6.71%
NVR	D	0.21%	0.19%	0.19%
OC	A	0.12%	0.13%	0.12%
ORCL	B	0.45%	0.88%	0.45%
PCAR	B	0.11%	0.44%	0.11%
PH	A	0.17%	0.52%	0.17%
PHM	D	0.18%	0.22%	0.18%
PKG	A	0.1%	0.15%	0.1%
PM	B	0.87%	0.71%	0.71%
PSA	D	0.07%	0.38%	0.07%
QCOM	F	0.39%	1.22%	0.39%
REGN	F	0.11%	0.59%	0.11%
ROL	B	0.06%	0.1%	0.06%
RSG	A	0.2%	0.31%	0.2%
RTX	C	0.06%	0.5%	0.06%
SO	D	0.6%	0.29%	0.29%
SSNC	B	0.03%	0.09%	0.03%
STLD	B	0.01%	0.16%	0.01%
SWKS	F	0.03%	0.09%	0.03%
SYF	B	0.18%	0.21%	0.18%
TER	D	0.03%	0.08%	0.03%
TJX	A	0.39%	0.95%	0.39%
TMUS	B	4.56%	0.59%	0.59%
TPL	A	0.05%	0.16%	0.05%
TSCO	D	0.09%	0.15%	0.09%
TSLA	B	1.32%	1.13%	1.13%
TT	A	0.65%	0.65%	0.65%
TXN	C	0.39%	1.24%	0.39%
UNH	C	0.01%	0.52%	0.01%
URI	B	0.47%	0.38%	0.38%
UTHR	C	0.02%	0.12%	0.02%
VICI	C	0.05%	0.1%	0.05%
VRTX	F	0.15%	0.92%	0.15%
WAB	B	0.07%	0.17%	0.07%
WM	A	0.37%	0.67%	0.37%
WMT	A	0.45%	1.68%	0.45%
WSM	B	0.05%	0.15%	0.05%
WSO	A	0.16%	0.13%	0.13%
XOM	B	0.95%	0.63%	0.63%

INRO Overweight 314 Positions Relative to FLQL

Symbol	Grade	Weight
HON	B	1.6%
BXP	D	1.35%
HD	A	1.17%
AXP	A	1.14%
NEE	D	0.97%
CBRE	B	0.87%
BAC	A	0.81%
MMM	D	0.76%
WFC	A	0.64%
CSGP	D	0.63%
VMC	B	0.59%
MLM	B	0.57%
MS	A	0.55%
SPGI	C	0.55%
UNP	C	0.54%
DUK	C	0.54%
CVX	A	0.5%
UBER	D	0.49%
ETN	A	0.48%
COF	B	0.48%
AMD	F	0.47%
BX	A	0.45%
CRM	B	0.45%
CEG	D	0.45%
LOW	D	0.43%
CARR	D	0.42%
SCHW	B	0.41%
JCI	C	0.39%
PWR	A	0.37%
ICE	C	0.33%
ADBE	C	0.32%
AEP	D	0.32%
KKR	A	0.31%
GEV	B	0.31%
CME	A	0.3%
NOW	A	0.3%
ADP	B	0.29%
DFS	B	0.29%
INTU	C	0.26%
PCG	A	0.26%
EXC	C	0.25%
CSX	B	0.25%
Z	A	0.25%
XEL	A	0.24%
EMR	A	0.24%
COP	C	0.24%
TMO	F	0.24%
PGR	A	0.23%
MU	D	0.23%
INTC	D	0.22%
NSC	B	0.22%
WCN	A	0.21%
ORLY	B	0.21%
PNC	B	0.21%
CPRT	A	0.21%
EIX	B	0.21%
DE	A	0.2%
USB	A	0.2%
COIN	C	0.2%
VST	B	0.19%
AMP	A	0.19%
DHR	F	0.19%
PANW	C	0.18%
WELL	A	0.18%
PLTR	B	0.18%
TFC	A	0.17%
ODFL	B	0.16%
MMC	B	0.16%
MSCI	C	0.16%
VRT	B	0.16%
MRVL	B	0.16%
EOG	A	0.15%
AME	A	0.15%
FE	C	0.15%
AZO	C	0.15%
BLDR	D	0.15%
ITW	B	0.15%
NDAQ	A	0.14%
ROST	C	0.14%
ES	D	0.14%
PFE	D	0.14%
GILD	C	0.14%
WMB	A	0.13%
RJF	A	0.13%
SW	A	0.13%
FCX	D	0.12%
SNPS	B	0.12%
CDNS	B	0.12%
CRWD	B	0.12%
NXPI	D	0.12%
OKE	A	0.12%
ARES	A	0.12%
EVRG	A	0.11%
PAYX	C	0.11%
LNT	A	0.11%
VLTO	D	0.11%
BK	A	0.11%
AMT	D	0.11%
AON	A	0.11%
NEM	D	0.11%
ACM	A	0.11%
BMY	B	0.11%
AJG	B	0.1%
KMI	A	0.1%
PSX	C	0.1%
MPC	D	0.1%
ROK	B	0.1%
EQIX	A	0.1%
MSTR	C	0.1%
NTRS	A	0.1%
AIG	B	0.09%
LNG	B	0.09%
MTB	A	0.09%
ROP	B	0.09%
TRV	B	0.09%
VRSK	A	0.09%
SLB	C	0.09%
ADSK	A	0.09%
BR	A	0.08%
TRGP	B	0.08%
EFX	F	0.08%
ZTS	D	0.08%
OTIS	C	0.08%
HUBB	B	0.08%
LPLA	A	0.08%
MET	A	0.08%
IR	B	0.08%
FDS	B	0.08%
GE	D	0.08%
ALL	A	0.08%
TGT	F	0.08%
FITB	A	0.08%
VLO	C	0.08%
ALLE	D	0.08%
FTNT	C	0.08%
WDAY	B	0.08%
BALL	D	0.08%
BKR	B	0.07%
HBAN	A	0.07%
RF	A	0.07%
MELI	D	0.07%
PRU	A	0.07%
HES	B	0.07%
DLR	B	0.07%
AVY	D	0.07%
ACN	C	0.07%
CCI	D	0.06%
JBHT	C	0.06%
DDOG	A	0.06%
XYL	D	0.06%
VTR	C	0.06%
KEYS	A	0.06%
ON	D	0.06%
HOOD	B	0.06%
AOS	F	0.06%
OXY	D	0.06%
TEAM	A	0.06%
F	C	0.06%
FBIN	D	0.06%
TW	A	0.06%
IQV	D	0.05%
KR	B	0.05%
WTW	B	0.05%
A	D	0.05%
PPL	B	0.05%
ANSS	B	0.05%
HUBS	A	0.05%
ULTA	F	0.05%
ATO	A	0.05%
CG	A	0.05%
CCK	C	0.05%
FTV	C	0.05%
TROW	B	0.05%
BURL	A	0.05%
CDW	F	0.05%
FCNCA	A	0.05%
PINS	D	0.05%
KEY	B	0.05%
DOV	A	0.05%
STT	A	0.05%
PNR	A	0.04%
SNA	A	0.04%
PTC	A	0.04%
ARE	D	0.04%
WDC	D	0.04%
TRMB	B	0.04%
UPS	C	0.04%
ALNY	D	0.04%
BRO	B	0.04%
TYL	B	0.04%
CINF	A	0.04%
J	F	0.04%
MKL	A	0.04%
MKTX	D	0.04%
HAL	C	0.04%
FSLR	F	0.04%
CBOE	B	0.04%
EQT	B	0.04%
PFG	D	0.04%
SYY	B	0.04%
BA	F	0.04%
BAH	F	0.04%
ZBRA	B	0.04%
TDY	B	0.04%
V	A	0.04%
TRU	D	0.04%
SMCI	F	0.03%
SWK	D	0.03%
MANH	D	0.03%
MRO	B	0.03%
DT	C	0.03%
EG	C	0.03%
WAT	B	0.03%
PSTG	D	0.03%
ZS	C	0.03%
PAYC	B	0.03%
DAY	B	0.03%
ILMN	D	0.03%
NDSN	B	0.03%
CTRA	B	0.03%
SBAC	D	0.03%
WST	C	0.03%
WRB	A	0.03%
NOC	D	0.03%
L	A	0.03%
BIIB	F	0.03%
DOC	D	0.03%
TDG	D	0.03%
WY	D	0.03%
GGG	B	0.03%
ENTG	D	0.03%
LIN	D	0.03%
SNAP	C	0.03%
JBL	B	0.03%
ZM	B	0.03%
IEX	B	0.03%
AES	F	0.03%
BEN	C	0.03%
STX	D	0.03%
MTD	D	0.03%
KMX	B	0.03%
KNX	B	0.03%
INCY	C	0.02%
IT	C	0.02%
BMRN	D	0.02%
NBIX	C	0.02%
LUV	C	0.02%
MRNA	F	0.02%
TTC	D	0.02%
DINO	D	0.02%
DG	F	0.02%
SEIC	B	0.02%
ERIE	D	0.02%
ENPH	F	0.02%
AXON	A	0.02%
AVTR	F	0.02%
AIZ	A	0.02%
ALLY	C	0.02%
AFG	A	0.02%
RVTY	F	0.02%
UHAL	D	0.02%
IOT	A	0.02%
BBWI	D	0.02%
CNH	C	0.02%
LHX	C	0.02%
MTCH	D	0.02%
OVV	B	0.02%
FDX	B	0.02%
DOCU	A	0.02%
GEN	B	0.02%
CPT	B	0.01%
CTVA	C	0.01%
FIS	C	0.01%
APD	A	0.01%
SUI	D	0.01%
DOW	F	0.01%
ACI	C	0.01%
SHW	A	0.01%
TXT	D	0.01%
MDB	C	0.01%
RS	B	0.01%
VRSN	F	0.01%
MAA	B	0.01%
HEI	B	0.01%
INVH	D	0.01%
RPRX	D	0.01%
PYPL	B	0.01%
EPAM	C	0.01%
VTRS	A	0.01%
TWLO	A	0.01%
BIO	D	0.01%
NET	B	0.01%
APO	B	0.01%
CTLT	B	0.01%
DD	D	0.01%
RIVN	F	0.01%
EQR	B	0.01%
DLTR	F	0.01%
EXAS	D	0.01%
NUE	C	0.01%
SNOW	C	0.01%
CRL	C	0.01%
FI	A	0.01%
QRVO	F	0.01%
TECH	D	0.01%
CHRD	D	0.01%
GDDY	A	0.01%
BSY	D	0.01%
HII	D	0.0%
ECL	D	0.0%
FNF	B	0.0%
HEI	B	0.0%
WBA	F	0.0%
EXPD	D	0.0%

INRO Underweight 94 Positions Relative to FLQL

Symbol	Grade	Weight
ISRG	A	-1.3%
VZ	C	-1.24%
BKNG	A	-1.19%
T	A	-1.07%
SYK	C	-0.94%
BSX	B	-0.84%
ANET	C	-0.77%
MSI	B	-0.58%
CMG	B	-0.57%
CI	F	-0.56%
CL	D	-0.52%
HCA	F	-0.49%
SPG	B	-0.46%
HLT	A	-0.33%
ELV	F	-0.28%
SPOT	B	-0.22%
PEG	A	-0.22%
DECK	A	-0.22%
RCL	A	-0.17%
O	D	-0.15%
KMB	D	-0.14%
TOL	B	-0.13%
RMD	C	-0.13%
TNL	A	-0.12%
AWI	A	-0.12%
RL	B	-0.12%
JEF	A	-0.12%
AYI	B	-0.12%
EVR	B	-0.12%
FIX	A	-0.12%
ALSN	B	-0.12%
DTM	B	-0.12%
AXS	A	-0.11%
LNC	B	-0.11%
BJ	A	-0.11%
MUSA	A	-0.11%
FOXA	B	-0.11%
PPC	C	-0.11%
FOX	A	-0.11%
CW	B	-0.11%
DPZ	C	-0.11%
R	B	-0.11%
LOPE	B	-0.11%
CASY	A	-0.11%
RGA	A	-0.11%
G	B	-0.11%
CF	B	-0.11%
TXRH	C	-0.11%
JHG	A	-0.11%
THC	D	-0.11%
UGI	A	-0.1%
OHI	C	-0.1%
SCCO	F	-0.1%
K	A	-0.1%
EMN	D	-0.1%
DGX	A	-0.1%
CLH	B	-0.1%
LAMR	D	-0.1%
UHS	D	-0.1%
NFG	A	-0.1%
DVA	B	-0.1%
ADC	B	-0.1%
KRC	C	-0.1%
INGR	B	-0.1%
KEX	C	-0.1%
RGLD	C	-0.1%
EHC	B	-0.1%
CUZ	B	-0.1%
WU	D	-0.09%
JNPR	F	-0.09%
NNN	D	-0.09%
EPR	D	-0.09%
PK	B	-0.09%
SNX	C	-0.09%
CACI	D	-0.09%
NEU	C	-0.09%
GAP	C	-0.09%
GPK	C	-0.09%
CHE	D	-0.09%
HRB	D	-0.09%
AVT	C	-0.09%
OMC	C	-0.09%
MTG	C	-0.09%
M	D	-0.09%
HIW	D	-0.09%
CRI	D	-0.08%
WING	D	-0.08%
COKE	C	-0.08%
CIVI	D	-0.08%
MEDP	D	-0.08%
CROX	D	-0.07%
OGN	D	-0.07%
CRUS	D	-0.07%
MDU	D	-0.07%