IPAY vs. MVPA ETF Comparison

Comparison of ETFMG Prime Mobile Payments ETF (IPAY) to Advisor Managed Portfolios Miller Value Partners Appreciation ETF (MVPA)

IPAY

ETFMG Prime Mobile Payments ETF

IPAY Description

The ETFMG Prime Mobile Payments ETF (IPAY®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Prime Mobile Payments Index. The index provides a benchmark for investors interested in tracking the mobile and electronic payments industry, speciﬁcally focusing on credit card networks, payment infrastructure and software services, payment processing services, and payment solutions (such as smartcards, prepaid cards, virtual wallets).

Grade (RS Rating)

Last Trade

$52.25

Average Daily Volume

23,516

Number of Holdings ^*

* may have additional holdings in another (foreign) market

MVPA

Advisor Managed Portfolios Miller Value Partners Appreciation ETF

MVPA Description

The fund is an actively-managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by investing in securities that Miller Value Partners, LLC (the "Adviser") believes have an above-average probability of outperforming the S&P 500® Index (the "S&P 500") over a multi-year time horizon. It will typically invest in a portfolio of approximately 20-40 common stocks without regard to market capitalization. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$32.71

Average Daily Volume

4,141

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	IPAY	MVPA
30 Days	3.32%	6.80%
60 Days	16.47%	10.36%
90 Days	9.93%	8.22%
12 Months	36.34%

2 Overlapping Holdings

	Symbol	Grade	Weight in IPAY	Weight in MVPA	Overlap
	FOUR	A	2.88%	3.85%	2.88%
	PYPL	A	6.5%	4.05%	4.05%

IPAY Overweight 25 Positions Relative to MVPA

Symbol	Grade	Weight
AXP	A	6.11%
FI	A	6.05%
MA	A	5.97%
V	B	5.84%
TOST	B	4.82%
CPAY	A	4.52%
FIS	A	4.48%
DFS	A	4.43%
SQ	D	4.33%
AFRM	C	4.16%
WEX	C	3.98%
COIN	F	3.96%
GPN	F	3.95%
ACIW	A	2.25%
EEFT	F	2.08%
QTWO	B	1.94%
WU	D	1.63%
STNE	F	1.47%
MQ	F	0.9%
VYX	C	0.82%
PAGS	F	0.75%
EVTC	D	0.72%
DLO	D	0.33%
GDOT	C	0.31%
IMXI	F	0.31%

IPAY Underweight 8 Positions Relative to MVPA

Symbol	Grade	Weight
TTE	B	-7.7%
CNC	F	-7.66%
BFH	D	-6.61%
CTO	D	-6.01%
CPNG	C	-5.25%
JXN	A	-4.53%
CART	B	-4.2%
MSTR	B	-3.75%