MUSQ vs. AADR ETF Comparison

Comparison of MUSQ Global Music Industry ETF (MUSQ) to WCM BNY Mellon Focused Growth ADR ETF (AADR)

MUSQ

MUSQ Global Music Industry ETF

MUSQ Description

The index is comprised of publicly-traded global companies that generate at least 50% of their annual revenue or $1 billion in annual sales from one or more of the sub-segments of the global music industry. Under normal circumstances, the fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities of Global Music Investments. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$23.57

Average Daily Volume

1,534

Number of Holdings ^*

* may have additional holdings in another (foreign) market

AADR

WCM BNY Mellon Focused Growth ADR ETF

AADR Description

The investment seeks long-term capital appreciation above international benchmarks such as the BNY Mellon Classic ADR Index, the fund's primary benchmark, and the MSCI EAFE Index, the fund's secondary benchmark. The sub-advisor seeks to achieve the fund's investment objective by selecting primarily a portfolio of U.S.-traded securities of non-U.S. organizations, most often American Depositary Receipts ("ADRs"), included in the BNY Mellon Classic ADR Index. The fund's investment focus follows the Sub-Advisor's core philosophy of investing in industry-leading non-U.S. organizations led by visionary management teams with sound business strategies.

Grade (RS Rating)

Last Trade

$64.14

Average Daily Volume

495

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	MUSQ	AADR
30 Days	1.27%	0.93%
60 Days	0.07%	2.32%
90 Days	1.75%	12.08%
12 Months	2.37%	33.06%

0 Overlapping Holdings

	Symbol	Grade	Weight in MUSQ	Weight in AADR	Overlap

MUSQ Overweight 16 Positions Relative to AADR

Symbol	Grade	Weight
AAPL	C	5.28%
AMZN	A	5.24%
GOOGL	A	4.6%
SONY	D	4.08%
SPOT	A	4.04%
LYV	A	3.34%
EDR	A	2.71%
WMG	A	2.55%
MSGE	C	2.47%
DLB	B	2.32%
SONO	C	2.26%
RSVR	B	2.23%
TSQ	F	2.2%
TME	D	2.07%
SIRI	C	1.92%
MDIA	F	0.74%

MUSQ Underweight 26 Positions Relative to AADR

Symbol	Grade	Weight
GGAL	B	-5.21%
YPF	A	-5.18%
NVO	F	-5.14%
BMA	B	-4.49%
ERJ	C	-4.0%
PAM	B	-3.74%
ABBV	A	-3.73%
QFIN	B	-3.42%
HMY	B	-3.32%
SAP	B	-3.25%
MUFG	A	-3.24%
MELI	A	-3.07%
RELX	C	-2.98%
VRNA	A	-2.9%
BBVA	B	-2.76%
ERIC	A	-2.74%
BCS	B	-2.73%
SE	B	-2.56%
TSM	B	-2.5%
CHKP	F	-2.45%
TEVA	A	-2.35%
ING	C	-2.27%
SMFG	B	-2.24%
NVS	D	-2.22%
NMR	D	-1.97%
LOGI	D	-1.97%