NVIR vs. CBLS ETF Comparison

Comparison of Listed Funds Trust Horizon Kinetics Energy and Remediation ETF (NVIR) to Changebridge Capital Long/Short Equity ETF (CBLS)

NVIR

Listed Funds Trust Horizon Kinetics Energy and Remediation ETF

NVIR Description

The fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by investing primarily in securities of companies that are expected to benefit, either directly or indirectly, from the increasing focus on climate and environmentally sensitive carbon-based energy production. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$31.80

Average Daily Volume

602

Number of Holdings ^*

* may have additional holdings in another (foreign) market

CBLS

Changebridge Capital Long/Short Equity ETF

CBLS Description

The investment seeks long-term capital appreciation while minimizing volatility. The Adviser also considers an assessment of a company's ESG attributes in determining the attractiveness of an investment opportunity. In general, the fund's investments are broadly invested over a number of sectors, but it may focus on the technology, consumer, and healthcare sectors. Under normal circumstances, at least 80% of the fund's net assets, plus borrowings for investment purposes, will be invested long or short in equity securities, including common stocks and depositary receipts. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$26.31

Average Daily Volume

1,791

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	NVIR	CBLS
30 Days	5.86%	4.34%
60 Days	12.60%	4.30%
90 Days	10.16%	3.90%
12 Months	23.05%	35.16%

2 Overlapping Holdings

	Symbol	Grade	Weight in NVIR	Weight in CBLS	Overlap
	ECL	D	2.04%	2.14%	2.04%
	LNG	A	3.93%	3.13%	3.13%

NVIR Overweight 27 Positions Relative to CBLS

Symbol	Grade	Weight
XOM	B	7.51%
TPL	A	6.06%
WMB	A	5.12%
FANG	D	3.95%
EQT	A	3.77%
COP	C	3.16%
EOG	A	3.12%
ITRI	B	2.84%
BMI	B	2.49%
OXY	F	2.48%
PNR	A	2.46%
SLB	C	2.34%
FLS	A	2.25%
FLR	B	2.13%
VLTO	D	1.74%
LBRT	F	1.67%
WTS	A	1.58%
XYL	D	1.57%
FELE	B	1.55%
OIS	B	1.52%
IEX	B	1.37%
PBT	B	1.31%
TTI	B	1.28%
ERII	B	1.21%
IDXX	F	1.12%
SJT	C	0.97%
SBR	B	0.78%

NVIR Underweight 55 Positions Relative to CBLS

Symbol	Grade	Weight
DELL	C	-3.39%
NVDA	B	-3.26%
GTLS	A	-3.02%
SKY	A	-2.94%
SCI	B	-2.86%
OSW	B	-2.85%
WMT	A	-2.82%
AMZN	B	-2.76%
COST	B	-2.63%
WTTR	A	-2.61%
IBN	C	-2.57%
BWXT	A	-2.55%
ICFI	F	-2.54%
ORCL	A	-2.48%
GD	D	-2.44%
ERJ	A	-2.43%
D	C	-2.41%
RTX	D	-2.37%
SO	C	-2.36%
AER	B	-2.33%
NEE	C	-2.29%
ROL	A	-2.29%
BA	F	-2.2%
NEM	F	-2.16%
AMD	F	-2.14%
HUMA	F	-2.08%
NARI	C	-2.03%
ETR	A	-1.98%
STRL	B	-1.81%
PDD	F	-1.62%
CCL	A	-1.51%
VST	A	-1.45%
TDG	D	-1.45%
R	A	--0.75%
TTC	D	--0.81%
GIII	D	--0.83%
SIG	B	--0.86%
ROK	A	--0.94%
HELE	C	--0.95%
AME	A	--0.97%
TSLA	B	--0.99%
ENR	A	--1.0%
DOOO	F	--1.0%
IBM	D	--1.01%
MIDD	D	--1.01%
KMT	B	--1.01%
HSY	F	--1.02%
BC	D	--1.03%
VSAT	F	--1.03%
F	C	--1.17%
VRNT	D	--1.22%
DE	D	--1.27%
TASK	C	--1.32%
AMAT	F	--1.53%
NOW	B	--1.74%