MUSQ vs. CBSE ETF Comparison

Comparison of MUSQ Global Music Industry ETF (MUSQ) to Changebridge Capital Sustainable Equity ETF (CBSE)

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

$23.74

Average Daily Volume

1,526

Number of Holdings ^*

* may have additional holdings in another (foreign) market

CBSE

Changebridge Capital Sustainable Equity ETF

CBSE Description

The investment seeks capital appreciation and lower volatility than the broader market. The fund is an actively-managed ETF that seeks to achieve its investment objective by purchasing securities Changebridge Capital, LLC, the fund's investment adviser, believes to have above-average financial characteristics and growth potential that exhibit positive ESG attributes. Under normal circumstances, it will invest at least 80% of its net assets, plus borrowings for investment purposes, in equity securities, including common stocks and depositary receipts, of sustainable companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$33.27

Average Daily Volume

2,866

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	MUSQ	CBSE
30 Days	0.97%	4.74%
60 Days	5.08%	8.17%
90 Days	0.68%	9.64%
12 Months	-0.72%	46.06%

2 Overlapping Holdings

	Symbol	Grade	Weight in MUSQ	Weight in CBSE	Overlap
	AMZN	B	5.38%	1.9%	1.9%
	SPOT	A	3.97%	3.42%	3.42%

MUSQ Overweight 13 Positions Relative to CBSE

Symbol	Grade	Weight
GOOGL	B	5.34%
AAPL	C	4.66%
SONY	B	4.61%
IHRT	B	3.73%
LYV	A	3.53%
TME	F	3.15%
SONO	C	3.12%
WMG	C	3.12%
DLB	F	3.12%
EDR	A	3.04%
TSQ	D	3.0%
MSGE	F	2.95%
RSVR	B	1.4%

MUSQ Underweight 32 Positions Relative to CBSE

Symbol	Grade	Weight
LNG	A	-3.41%
CCL	A	-3.27%
MGNI	A	-3.06%
VST	A	-3.03%
ROL	B	-3.02%
RDDT	A	-2.99%
BWXT	A	-2.94%
OSW	B	-2.9%
TDG	D	-2.88%
ERJ	A	-2.86%
IBN	D	-2.85%
INTC	C	-2.83%
NARI	C	-2.82%
SKY	A	-2.8%
STRL	A	-2.71%
GTLS	A	-2.7%
WTTR	A	-2.69%
PL	A	-2.69%
HUMA	F	-2.56%
OKLO	C	-2.4%
DELL	B	-2.18%
VITL	F	-2.1%
SO	C	-2.09%
D	C	-2.09%
CPRI	F	-2.03%
SCHW	A	-2.0%
NEE	C	-1.94%
SCI	A	-1.93%
MC	B	-1.93%
ON	F	-1.92%
ETR	A	-1.79%
CRSP	D	-0.91%