LSAF vs. CLSE ETF Comparison

Comparison of LeaderShares AlphaFactor US Core Equity ETF (LSAF) to Convergence Long/Short Equity ETF (CLSE)

LSAF

LeaderShares AlphaFactor US Core Equity ETF

LSAF Description

The investment seeks to provide investment results that correspond generally, before fees and expenses, to the performance of the AlphaFactor® US Core Equity Index. Under normal circumstances, at least 80% of the fund's net assets, including any borrowings for investment purposes, will be invested in a diversified portfolio of equity securities of U.S. common stocks included in the index. The index utilizes a quantitative rules-based investment methodology that applies a multi-factor ranking process and is focused on the largest 1,000 U.S. common stocks based on market capitalization.

Grade (RS Rating)

Last Trade

$38.67

Average Daily Volume

14,549

Number of Holdings ^*

* 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

$21.12

Average Daily Volume

102,575

Number of Holdings ^*

324

* may have additional holdings in another (foreign) market

Performance

Period	LSAF	CLSE
30 Days	2.62%	-2.31%
60 Days	1.37%	1.00%
90 Days	3.76%	3.73%
12 Months	18.94%	33.02%

27 Overlapping Holdings

Symbol	Grade	Weight in LSAF	Weight in CLSE	Overlap
AAPL	C	0.99%	0.83%	0.83%
ADBE	B	0.94%	-0.47%	-0.47%
AMG	B	1.08%	1.05%	1.05%
APP	D	0.89%	1.42%	0.89%
BKNG	D	0.89%	0.33%	0.33%
CAT	C	1.01%	0.52%	0.52%
DECK	D	0.83%	0.1%	0.1%
DVA	D	0.99%	0.67%	0.67%
EXP	B	1.05%	0.35%	0.35%
FDX	B	0.97%	0.41%	0.41%
GM	D	0.93%	0.9%	0.9%
GOOGL	D	0.89%	3.21%	0.89%
LDOS	C	1.01%	0.47%	0.47%
MCK	A	0.98%	0.85%	0.85%
META	C	0.86%	2.1%	0.86%
MPC	C	0.95%	0.74%	0.74%
MUSA	A	1.03%	0.64%	0.64%
NFLX	D	0.91%	0.11%	0.11%
NRG	D	0.91%	0.48%	0.48%
OC	B	0.99%	0.71%	0.71%
SYF	C	1.06%	0.86%	0.86%
THC	B	1.1%	0.83%	0.83%
UHS	A	1.07%	0.79%	0.79%
VLO	B	0.97%	0.79%	0.79%
VRT	D	0.87%	0.51%	0.51%
VST	D	0.8%	0.4%	0.4%
VVV	B	1.01%	-0.26%	-0.26%

LSAF Overweight 70 Positions Relative to CLSE

Symbol	Grade	Weight
URI	C	1.15%
TOL	B	1.12%
MTG	B	1.11%
PHM	B	1.11%
LEN	B	1.11%
MAS	B	1.11%
RTX	A	1.1%
AWI	B	1.1%
ALSN	A	1.09%
SLM	C	1.08%
AN	B	1.07%
SPGI	A	1.06%
NVR	A	1.06%
HCA	A	1.05%
CPAY	C	1.04%
PFG	C	1.04%
MET	B	1.04%
UTHR	B	1.03%
TXT	B	1.03%
WSO	C	1.03%
PRI	A	1.03%
ORI	A	1.03%
GWW	C	1.03%
OMC	B	1.02%
AFL	A	1.02%
UNM	A	1.02%
CNM	C	1.01%
EQH	B	1.01%
SAIC	C	1.01%
AXP	A	1.01%
AMP	D	1.0%
CI	C	1.0%
DOV	C	1.0%
DE	F	0.99%
AZO	B	0.99%
HIG	A	0.99%
AIG	C	0.99%
VRSK	C	0.99%
MKL	C	0.98%
AOS	C	0.98%
WAB	D	0.98%
PSX	C	0.98%
FFIV	B	0.98%
SNX	D	0.98%
LNG	A	0.98%
JBL	F	0.98%
LAMR	B	0.97%
H	C	0.97%
CSL	C	0.97%
DD	A	0.96%
STLD	C	0.96%
NUE	F	0.96%
CRUS	C	0.96%
EBAY	A	0.96%
SPB	D	0.95%
COTY	F	0.95%
HLT	C	0.95%
KEX	C	0.95%
COP	F	0.94%
OVV	F	0.94%
OTIS	D	0.94%
USFD	C	0.94%
MAR	F	0.93%
V	D	0.93%
HOOD	D	0.91%
ABNB	F	0.9%
RL	D	0.9%
PVH	F	0.89%
BBWI	F	0.82%
LRCX	F	0.8%

LSAF Underweight 297 Positions Relative to CLSE

Symbol	Grade	Weight
NVDA	D	-3.95%
AMZN	D	-3.18%
MSFT	D	-3.08%
QCOM	D	-2.33%
MU	D	-2.25%
AVGO	D	-2.17%
GOOG	D	-2.12%
HPE	D	-2.09%
WMT	B	-1.88%
APH	D	-1.74%
NTAP	C	-1.72%
GDDY	C	-1.62%
ANET	C	-1.61%
IBM	B	-1.59%
CVNA	B	-1.39%
CVLT	B	-1.31%
COIN	C	-1.03%
ABBV	A	-1.03%
SNEX	B	-1.02%
DOCU	D	-1.01%
HD	C	-1.01%
JNJ	B	-1.0%
OGN	B	-0.99%
SEIC	B	-0.96%
HALO	B	-0.96%
JHG	B	-0.96%
MRK	F	-0.94%
PAGS	C	-0.88%
BAC	C	-0.88%
ACIW	B	-0.86%
CRWD	F	-0.84%
T	A	-0.84%
KD	C	-0.82%
GLW	C	-0.81%
BG	C	-0.81%
AMRX	C	-0.8%
PATK	B	-0.8%
MO	A	-0.8%
HIMS	C	-0.79%
MLI	B	-0.77%
JPM	B	-0.77%
UMBF	B	-0.77%
PRU	B	-0.75%
WFC	C	-0.74%
EME	D	-0.74%
PG	B	-0.72%
PPC	B	-0.72%
CVX	C	-0.66%
CNC	B	-0.65%
STNG	D	-0.64%
FITB	B	-0.64%
IIPR	B	-0.64%
AMGN	B	-0.64%
SKYW	C	-0.64%
XOM	B	-0.63%
INCY	C	-0.63%
GILD	B	-0.63%
DY	B	-0.6%
FTDR	B	-0.6%
RGA	A	-0.6%
VTRS	B	-0.59%
AIT	C	-0.59%
AVA	A	-0.59%
RF	B	-0.59%
REZI	C	-0.59%
GVA	B	-0.58%
NU	C	-0.58%
PNW	A	-0.57%
UNP	B	-0.56%
PRIM	B	-0.56%
NEM	A	-0.56%
IESC	C	-0.55%
TSN	A	-0.55%
STRL	D	-0.54%
GFF	C	-0.54%
SLVM	B	-0.53%
NEE	A	-0.53%
PINS	F	-0.53%
MWA	B	-0.52%
BAH	D	-0.52%
CNA	B	-0.5%
EQR	A	-0.5%
BCO	B	-0.49%
AMR	F	-0.48%
PGR	B	-0.48%
TT	B	-0.48%
LNTH	C	-0.47%
EEFT	F	-0.47%
NSA	C	-0.46%
JXN	B	-0.45%
MRO	D	-0.43%
CRBG	D	-0.43%
NTNX	F	-0.43%
STAG	A	-0.42%
FCX	D	-0.41%
GRMN	B	-0.39%
TNK	D	-0.39%
CTRE	A	-0.39%
SPG	B	-0.38%
MGM	D	-0.37%
DKNG	F	-0.37%
BLD	C	-0.36%
IBP	C	-0.36%
BRBR	D	-0.35%
HRB	A	-0.34%
CCL	D	-0.33%
SCCO	D	-0.32%
KNF	C	-0.31%
J	B	-0.28%
JLL	B	-0.25%
APPF	D	-0.22%
NTRA	D	-0.21%
DOCS	C	-0.18%
TWST	C	-0.17%
FG	C	-0.17%
CHRW	A	-0.16%
SPOT	B	-0.13%
ABM	A	-0.07%
ANF	D	-0.05%
LGIH	B	--0.03%
AAL	F	--0.05%
MCW	C	--0.06%
PENN	D	--0.06%
RRC	F	--0.06%
HHH	C	--0.07%
JOBY	D	--0.07%
CHDN	B	--0.07%
PAYC	C	--0.07%
VAC	F	--0.08%
CNXC	C	--0.08%
PNM	A	--0.09%
ALNY	A	--0.09%
OGS	B	--0.1%
AES	D	--0.1%
ASB	C	--0.1%
VFC	B	--0.11%
DRI	D	--0.11%
DAL	F	--0.11%
DAY	C	--0.12%
SHC	B	--0.12%
LNC	B	--0.12%
DRVN	B	--0.12%
BIRK	B	--0.12%
ACVA	F	--0.12%
ZWS	C	--0.12%
PYCR	D	--0.12%
EXAS	C	--0.13%
FL	B	--0.13%
EXR	B	--0.13%
CRS	B	--0.14%
UHAL	B	--0.14%
WOR	F	--0.14%
MAC	C	--0.14%
LUV	F	--0.14%
EQIX	B	--0.14%
ROK	D	--0.15%
VMC	A	--0.15%
WTM	C	--0.15%
CAR	F	--0.15%
AESI	D	--0.15%
KNSL	B	--0.16%
CINF	A	--0.16%
VNO	B	--0.16%
AVAV	D	--0.16%
IRTC	F	--0.16%
SITC	B	--0.16%
WTRG	A	--0.16%
WTW	A	--0.16%
TXG	F	--0.16%
GATX	C	--0.17%
PCH	C	--0.17%
SHW	A	--0.17%
PGNY	D	--0.17%
HI	D	--0.17%
NFE	F	--0.18%
AGL	D	--0.18%
CHK	F	--0.18%
XP	F	--0.18%
MTN	D	--0.18%
WAL	C	--0.18%
RUN	B	--0.18%
LW	F	--0.19%
BE	D	--0.19%
ALLY	B	--0.19%
UEC	F	--0.19%
ACHC	D	--0.19%
CZR	D	--0.19%
AJG	A	--0.19%
KVUE	D	--0.19%
EL	F	--0.19%
GO	F	--0.2%
GS	B	--0.2%
CMA	B	--0.2%
EQT	F	--0.2%
XYL	D	--0.2%
RBA	C	--0.21%
BOKF	C	--0.21%
SBCF	C	--0.21%
FOXF	D	--0.21%
INST	D	--0.21%
RNR	A	--0.21%
PPBI	C	--0.21%
MRNA	F	--0.22%
OKE	B	--0.22%
IVZ	B	--0.22%
CRL	B	--0.22%
KNX	B	--0.22%
GTLS	C	--0.22%
GPOR	F	--0.23%
TRIP	F	--0.23%
IPAR	B	--0.23%
SUM	B	--0.23%
MSGS	B	--0.23%
BANC	D	--0.23%
CARR	B	--0.23%
APD	C	--0.24%
HSY	B	--0.24%
ALB	F	--0.24%
CELH	F	--0.24%
PEN	F	--0.25%
CG	B	--0.25%
CLDX	C	--0.25%
FMC	B	--0.25%
BIO	B	--0.25%
VC	C	--0.26%
CNH	F	--0.26%
D	A	--0.26%
FCNCA	B	--0.26%
NOG	B	--0.26%
MKTX	C	--0.26%
CACC	D	--0.27%
MS	B	--0.27%
MARA	D	--0.27%
DAR	C	--0.27%
DLTR	F	--0.28%
SJM	B	--0.28%
LAD	B	--0.28%
CIEN	B	--0.29%
O	A	--0.3%
SBUX	F	--0.3%
FOUR	F	--0.3%
HASI	B	--0.31%
TTD	D	--0.31%
INSP	F	--0.31%
FIVE	F	--0.31%
BX	B	--0.32%
APTV	D	--0.32%
KMX	C	--0.32%
NEOG	B	--0.33%
COHR	C	--0.34%
MC	C	--0.35%
BBIO	F	--0.35%
NDAQ	B	--0.35%
APLS	F	--0.35%
RVMD	B	--0.35%
TECH	B	--0.37%
DXCM	F	--0.37%
C	B	--0.38%
SRE	A	--0.38%
SATS	B	--0.38%
RCM	B	--0.39%
ZI	F	--0.4%
CCOI	B	--0.4%
GE	B	--0.42%
IAC	B	--0.42%
WBD	D	--0.43%
TTWO	F	--0.44%
RIOT	D	--0.44%
GFS	D	--0.45%
BOOT	B	--0.46%
LBRDK	B	--0.46%
U	F	--0.47%
LYV	C	--0.47%
AEIS	C	--0.47%
CFLT	F	--0.47%
DV	C	--0.48%
WDC	F	--0.48%
GLOB	C	--0.49%
BILL	F	--0.5%
FIVN	D	--0.51%
MDB	F	--0.51%
BRZE	C	--0.51%
WOLF	F	--0.52%
FND	F	--0.53%
CGNX	D	--0.56%
QQQ	D	--0.57%
KLIC	F	--0.57%
RH	B	--0.59%
ZBRA	B	--0.61%
CSCO	C	--0.61%
LITE	C	--0.63%
SITM	C	--0.7%
BA	D	--0.7%
MCHP	F	--0.72%
ENPH	F	--0.75%
INTC	F	--0.76%
TXN	C	--0.78%