MISL vs. EVNT ETF Comparison

Comparison of First Trust Indxx Aerospace & Defense ETF (MISL) to AltShares Event-Driven ETF (EVNT)

MISL

First Trust Indxx Aerospace & Defense ETF

MISL Description

The First Trust Indxx Aerospace & Defense ETF seeks investment results that correspond generally to the price and yield, before fees and expenses, of an equity index called the Indxx US Aerospace & Defense Index (the "Index"). Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in the common stocks that comprise the Index.

Grade (RS Rating)

Last Trade

$31.20

Average Daily Volume

16,155

Number of Holdings ^*

* may have additional holdings in another (foreign) market

EVNT

AltShares Event-Driven ETF

EVNT Description

AltShares Event-Driven ETF is an exchange traded fund launched and managed by Water Island Capital, LLC. The fund invests in the public equity and fixed income markets across the globe. For its equity portion, the fund invests in stocks of companies operating across diversified sectors. It invests in event-driven/arbitrage stocks of companies across diversified market capitalization. The fund invests in fixed income securities with varying maturities. AltShares Event-Driven ETF is domiciled in the United States.

Grade (RS Rating)

Last Trade

$10.60

Average Daily Volume

409

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	MISL	EVNT
30 Days	1.77%	2.25%
60 Days	9.47%	3.85%
90 Days	9.85%	7.92%
12 Months	40.63%	9.68%

1 Overlapping Holdings

	Symbol	Grade	Weight in MISL	Weight in EVNT	Overlap
	BA	F	6.83%	2.56%	2.56%

MISL Overweight 9 Positions Relative to EVNT

Symbol	Grade	Weight
LMT	C	8.83%
RTX	C	8.72%
TDG	B	7.93%
GD	B	7.58%
HWM	B	4.42%
NOC	B	4.34%
HEI	B	4.07%
LDOS	B	3.79%
TXT	D	3.67%

MISL Underweight 41 Positions Relative to EVNT

Symbol	Grade	Weight
HES	F	-5.01%
OLK	A	-4.42%
MCS	C	-4.38%
CHX	F	-3.62%
CERE	A	-3.17%
JNPR	B	-3.17%
CTLT	B	-2.99%
AXNX	B	-2.98%
ANSS	D	-2.87%
MGRC	F	-2.66%
HCP	B	-2.61%
CZR	C	-2.1%
PRFT	B	-2.07%
X	F	-1.96%
PVH	F	-1.87%
CCI	C	-1.69%
FL	D	-1.69%
VFC	C	-1.56%
SIMO	F	-1.45%
MODN	B	-1.33%
TGNA	D	-1.32%
INTC	F	-1.29%
WIRE	A	-1.28%
RAMP	F	-1.22%
VZIO	B	-1.2%
PARA	F	-1.06%
DIS	D	-1.04%
AMED	C	-1.01%
AURA	C	-0.98%
SQSP	A	-0.98%
CPRI	D	-0.91%
PNM	B	-0.9%
PACB	D	-0.6%
WBD	D	-0.6%
RIVN	F	-0.49%
ACI	F	-0.46%
ZLAB	C	-0.41%
SNOW	F	-0.33%
LVTX	F	-0.05%
WSC	D	--0.95%
SNPS	D	--1.38%

MISL: Top Represented Industries & Keywords

Industries: Aerospace & Defense Information Technology Services Specialty Industrial Machinery