NXTI vs. INRO ETF Comparison

Comparison of Simplify Next Intangible Core Index ETF (NXTI) to BlackRock U.S. Industry Rotation ETF (INRO)

NXTI

Simplify Next Intangible Core Index ETF

NXTI Description

NXTI targets US companies with relatively high intangible capital-to-book assets ratios within their respective sectors. The fund defines intangible capital as productive assets that lack physical presence and are created through investments in brand, knowledge, and organization capital. The index construction starts by calculating a ratio of intangible capital-to-book assets for each security in an initial universe consisting of the largest 2000 US companies by market-cap. The 200 stocks with the highest intangible capital-to-book assets ratio are selected for inclusion. At least five stocks are included from each of the 13 sectors determined by the index provider using a combination of SIC and NAICS codes along with data from publicly available 10-K filings. Constituents are weighted by market capitalization, with individual security weights capped at 5%. The index reconstitutes quarterly.

Grade (RS Rating)

Last Trade

$30.15

Average Daily Volume

457

Number of Holdings ^*

197

* may have additional holdings in another (foreign) market

INRO

BlackRock U.S. Industry Rotation ETF

INRO Description

INRO is targeted US equity exposure, actively managed by shifting the selection and weighting of the portfolio towards industries among the broad domestic market. Portfolio allocation is based on five potential sources of return: information regarding the current economic cycle, valuation, quality metrics, analyst expectation data and recent individual industry trends. The strategy aims to capture the potential alpha from the dispersion between industry allocations and the broad market. During temporary defensive periods, the fund may depart from this principal investment strategy to invest 100% of the portfolio in liquid, short-term securities. The fund may engage in active and frequent trading. Derivatives may also be used to seek returns or hedge exposure. Up to one-third of the value of the funds assets may be lending.

Grade (RS Rating)

Last Trade

$28.37

Average Daily Volume

3,683

Number of Holdings ^*

444

* may have additional holdings in another (foreign) market

Performance

Period	NXTI	INRO
30 Days	3.38%	2.93%
60 Days	9.27%	8.21%
90 Days	13.76%	9.07%
12 Months

118 Overlapping Holdings

Symbol	Grade	Weight in NXTI	Weight in INRO	Overlap
A	F	0.29%	0.1%	0.1%
ABNB	C	0.53%	0.04%	0.04%
ACGL	D	0.17%	0.07%	0.07%
ADBE	C	3.13%	0.34%	0.34%
ADSK	A	0.7%	0.1%	0.1%
AFL	C	0.25%	0.17%	0.17%
AIG	B	0.2%	0.16%	0.16%
AJG	A	0.26%	0.17%	0.17%
ALGN	F	0.57%	0.01%	0.01%
ALL	A	0.2%	0.14%	0.14%
AMAT	F	0.81%	0.32%	0.32%
AMP	A	0.2%	0.17%	0.17%
APP	B	0.41%	0.05%	0.05%
AVY	F	0.12%	0.25%	0.12%
AXP	B	0.76%	1.43%	0.76%
BAH	C	0.14%	0.04%	0.04%
BBY	D	0.21%	0.07%	0.07%
BKNG	A	0.89%	0.09%	0.09%
BRK.A	B	4.21%	0.41%	0.41%
BRO	A	0.12%	0.08%	0.08%
BURL	C	0.15%	0.06%	0.06%
BX	A	0.69%	0.38%	0.38%
CBRE	A	0.15%	0.09%	0.09%
CDNS	B	0.86%	0.13%	0.13%
CDW	F	0.37%	0.04%	0.04%
CI	D	0.39%	0.04%	0.04%
CMI	A	0.3%	0.13%	0.13%
CNC	F	0.15%	0.01%	0.01%
CTAS	A	0.55%	0.4%	0.4%
CTSH	A	0.48%	0.03%	0.03%
CVS	F	0.32%	0.03%	0.03%
DASH	A	0.38%	0.03%	0.03%
DDOG	B	0.49%	0.06%	0.06%
DELL	B	0.98%	0.07%	0.07%
DKNG	B	0.11%	0.01%	0.01%
DOCU	B	0.16%	0.03%	0.03%
DOV	A	0.12%	0.08%	0.08%
DT	C	0.19%	0.03%	0.03%
EBAY	C	0.37%	0.04%	0.04%
ELV	F	0.48%	0.04%	0.04%
EXPE	B	0.14%	0.01%	0.01%
FAST	A	0.16%	0.38%	0.16%
FICO	B	0.55%	0.07%	0.07%
FTNT	B	0.75%	0.08%	0.08%
GDDY	A	0.29%	0.01%	0.01%
GEV	B	0.56%	0.16%	0.16%
GWW	B	0.29%	0.41%	0.29%
HD	B	1.62%	1.45%	1.45%
HIG	C	0.14%	0.1%	0.1%
HON	B	0.9%	1.28%	0.9%
HPQ	B	0.45%	0.06%	0.06%
HUBS	B	0.34%	0.04%	0.04%
HUM	D	0.18%	0.01%	0.01%
IBM	C	2.41%	0.12%	0.12%
IDXX	D	1.28%	0.01%	0.01%
ILMN	C	0.14%	0.06%	0.06%
INTU	A	2.1%	0.28%	0.28%
IOT	B	0.28%	0.02%	0.02%
IT	A	0.25%	0.02%	0.02%
ITW	A	0.5%	0.22%	0.22%
KEYS	C	0.18%	0.04%	0.04%
KR	A	0.37%	0.04%	0.04%
LII	B	0.13%	0.12%	0.12%
LOW	B	0.61%	0.56%	0.56%
LRCX	F	0.57%	0.21%	0.21%
MA	B	2.95%	0.28%	0.28%
MANH	C	0.2%	0.03%	0.03%
MDB	C	0.25%	0.01%	0.01%
META	B	5.27%	3.86%	3.86%
MMC	C	0.44%	0.32%	0.32%
MMM	C	0.5%	0.66%	0.5%
MPC	D	0.37%	0.08%	0.08%
MTCH	F	0.13%	0.03%	0.03%
MTD	F	0.21%	0.07%	0.07%
NET	B	0.34%	0.02%	0.02%
NOW	A	2.2%	0.31%	0.31%
NRG	B	0.17%	0.07%	0.07%
NTAP	D	0.31%	0.04%	0.04%
ORLY	A	0.49%	0.25%	0.25%
OTIS	C	0.17%	0.12%	0.12%
PANW	A	1.39%	0.19%	0.19%
PAYX	B	0.31%	0.09%	0.09%
PGR	A	0.59%	0.4%	0.4%
PH	A	0.4%	0.24%	0.24%
PINS	F	0.3%	0.06%	0.06%
PLTR	B	0.87%	0.13%	0.13%
PM	C	0.81%	0.67%	0.67%
PRU	B	0.18%	0.09%	0.09%
PSTG	D	0.19%	0.03%	0.03%
ROL	B	0.16%	0.07%	0.07%
SNAP	C	0.2%	0.04%	0.04%
SNPS	B	0.93%	0.13%	0.13%
STX	D	0.28%	0.04%	0.04%
SYY	B	0.17%	0.03%	0.03%
TEAM	B	0.51%	0.06%	0.06%
TER	F	0.15%	0.03%	0.03%
TGT	C	0.68%	0.07%	0.07%
TOST	A	0.18%	0.01%	0.01%
TRGP	B	0.3%	0.05%	0.05%
TRV	B	0.21%	0.16%	0.16%
TSCO	C	0.12%	0.11%	0.11%
TT	A	0.55%	0.54%	0.54%
TW	C	0.1%	0.06%	0.06%
TXT	C	0.11%	0.01%	0.01%
UBER	F	1.07%	0.43%	0.43%
ULTA	C	0.16%	0.07%	0.07%
UNH	B	2.22%	0.23%	0.23%
VLTO	C	0.25%	0.13%	0.13%
VMC	B	0.21%	0.81%	0.21%
WAT	A	0.15%	0.05%	0.05%
WDAY	B	0.84%	0.08%	0.08%
WMB	B	0.51%	0.1%	0.1%
WMT	A	4.94%	0.36%	0.36%
WSM	F	0.16%	0.07%	0.07%
XOM	B	3.4%	0.79%	0.79%
XYL	D	0.16%	0.08%	0.08%
ZBRA	A	0.23%	0.03%	0.03%
ZS	B	0.31%	0.03%	0.03%

NXTI Overweight 79 Positions Relative to INRO

Symbol	Grade	Weight
CSCO	A	2.61%
KO	F	1.34%
ALNY	D	1.08%
PEP	D	1.03%
NKE	F	0.93%
MSI	B	0.92%
SPOT	A	0.88%
UPS	C	0.79%
CL	F	0.61%
NTRA	B	0.47%
EA	A	0.47%
D	D	0.44%
FDX	B	0.44%
INSM	D	0.42%
SRPT	F	0.42%
INCY	B	0.4%
SHW	A	0.38%
NBIX	C	0.38%
ECL	C	0.36%
ED	D	0.33%
KMB	F	0.33%
HSIC	F	0.31%
VST	B	0.31%
PEN	B	0.27%
EL	F	0.26%
ITCI	C	0.25%
SMMT	D	0.23%
EXEL	B	0.23%
IONS	F	0.23%
BKR	B	0.23%
NWS	B	0.21%
INSP	F	0.21%
BPMC	B	0.21%
MNST	B	0.21%
NTNX	B	0.2%
CYTK	C	0.2%
BBIO	F	0.19%
DD	D	0.19%
GIS	F	0.18%
RARE	D	0.16%
JNPR	D	0.16%
HSY	D	0.16%
MDGL	C	0.16%
AXSM	B	0.15%
LYV	B	0.15%
ALKS	B	0.15%
GWRE	A	0.15%
FFIV	A	0.15%
CLX	A	0.14%
DUOL	B	0.14%
NI	A	0.14%
CORT	B	0.14%
CACI	C	0.14%
APLS	F	0.13%
GPC	D	0.13%
EXPD	D	0.13%
PPG	F	0.13%
APTV	D	0.13%
RDDT	B	0.13%
DECK	B	0.13%
CVNA	B	0.13%
APPF	B	0.12%
DYN	C	0.12%
WING	D	0.12%
K	A	0.12%
GTLB	B	0.11%
PCOR	B	0.11%
RL	B	0.11%
FOLD	D	0.11%
NYT	C	0.11%
DNLI	B	0.11%
IOVA	D	0.1%
RS	B	0.1%
AMED	F	0.1%
TGTX	B	0.1%
ACI	C	0.1%
CHWY	B	0.09%
DLB	C	0.04%
LNW	F	0.04%

NXTI Underweight 326 Positions Relative to INRO

Symbol	Grade	Weight
NVDA	B	-7.14%
AAPL	C	-5.81%
MSFT	C	-4.62%
TMUS	A	-4.54%
GOOGL	B	-3.12%
GOOG	B	-2.71%
AMZN	A	-2.44%
JPM	B	-1.93%
AVGO	C	-1.59%
TSLA	B	-0.98%
BAC	A	-0.89%
BXP	D	-0.87%
MLM	B	-0.82%
WFC	A	-0.68%
NEE	D	-0.6%
COF	B	-0.57%
GS	B	-0.55%
CAT	C	-0.53%
SPGI	C	-0.51%
TMO	F	-0.49%
AMD	F	-0.48%
TJX	B	-0.47%
MS	A	-0.46%
CRM	B	-0.46%
ORCL	A	-0.45%
WM	A	-0.45%
UNP	C	-0.44%
URI	B	-0.44%
SW	C	-0.41%
CVX	B	-0.4%
TXN	C	-0.39%
QCOM	F	-0.39%
DHI	F	-0.38%
COST	B	-0.38%
C	A	-0.38%
DHR	F	-0.38%
CARR	C	-0.37%
SO	D	-0.37%
DFS	B	-0.34%
SCHW	A	-0.34%
DUK	D	-0.33%
LEN	D	-0.32%
ICE	D	-0.32%
CB	C	-0.31%
MO	A	-0.31%
V	A	-0.31%
PKG	B	-0.31%
JCI	A	-0.31%
DE	D	-0.3%
BALL	D	-0.28%
IP	C	-0.28%
ETN	A	-0.27%
KKR	B	-0.27%
CME	A	-0.27%
MCO	C	-0.26%
CEG	D	-0.26%
VEEV	B	-0.25%
WCN	A	-0.24%
PNC	B	-0.24%
ADI	F	-0.24%
MU	D	-0.24%
ADP	A	-0.23%
NVR	D	-0.23%
RSG	A	-0.23%
GRMN	A	-0.23%
CPRT	A	-0.23%
USB	A	-0.23%
AMCR	D	-0.22%
CSX	B	-0.21%
SYF	B	-0.21%
AEP	D	-0.2%
AON	A	-0.2%
PHM	D	-0.2%
INTC	C	-0.2%
AZO	C	-0.19%
COP	C	-0.19%
KLAC	F	-0.19%
AMT	F	-0.19%
ROST	F	-0.18%
TFC	B	-0.18%
EQIX	B	-0.17%
CCK	D	-0.17%
GE	C	-0.17%
NSC	B	-0.17%
MRVL	B	-0.16%
PCAR	B	-0.16%
MSCI	B	-0.16%
LLY	F	-0.16%
PCG	A	-0.15%
EXC	C	-0.15%
FCX	F	-0.15%
XEL	A	-0.14%
RTX	C	-0.14%
MCD	C	-0.14%
MET	C	-0.14%
WSO	A	-0.14%
NEM	F	-0.14%
ETR	B	-0.13%
PWR	B	-0.13%
EMR	A	-0.13%
ACN	C	-0.13%
MELI	D	-0.13%
APH	B	-0.13%
CSL	B	-0.13%
NXPI	F	-0.13%
BLDR	D	-0.13%
EIX	C	-0.12%
ODFL	B	-0.12%
STT	B	-0.11%
ARES	B	-0.11%
EOG	A	-0.11%
WELL	B	-0.11%
IR	A	-0.11%
COIN	B	-0.11%
BK	B	-0.11%
CRWD	B	-0.11%
MAS	D	-0.11%
DLR	C	-0.11%
NDAQ	A	-0.11%
FITB	A	-0.1%
WAB	A	-0.1%
MTB	B	-0.1%
JNJ	D	-0.1%
LMT	C	-0.1%
PSA	C	-0.1%
RJF	A	-0.1%
MCHP	F	-0.09%
IQV	F	-0.09%
ROP	A	-0.09%
OC	A	-0.09%
CCI	F	-0.09%
PSX	D	-0.08%
VRT	B	-0.08%
KMI	B	-0.08%
BA	F	-0.08%
MPWR	F	-0.08%
FI	A	-0.08%
OKE	A	-0.08%
NTRS	A	-0.08%
AME	A	-0.08%
ES	D	-0.08%
GM	A	-0.08%
FE	D	-0.08%
MRK	F	-0.07%
LPLA	B	-0.07%
BR	A	-0.07%
FBIN	F	-0.07%
EXR	D	-0.07%
CINF	A	-0.07%
FDS	A	-0.07%
EFX	D	-0.07%
RF	B	-0.07%
IRM	D	-0.07%
ABT	C	-0.07%
SBUX	B	-0.07%
FTV	D	-0.07%
PFG	C	-0.07%
ALLE	D	-0.07%
VRSK	A	-0.07%
VICI	D	-0.06%
EVRG	A	-0.06%
MSTR	B	-0.06%
FANG	D	-0.06%
TDG	B	-0.06%
LNT	C	-0.06%
LNG	B	-0.06%
AOS	F	-0.06%
ROK	B	-0.06%
FCNCA	B	-0.06%
SEIC	A	-0.06%
ISRG	A	-0.06%
F	C	-0.06%
HBAN	B	-0.06%
GD	A	-0.06%
CFG	B	-0.06%
WTW	A	-0.06%
GLW	C	-0.06%
VLO	D	-0.06%
NOC	C	-0.06%
EME	B	-0.06%
ON	F	-0.06%
CSGP	D	-0.06%
KMX	C	-0.05%
SBAC	D	-0.05%
LDOS	B	-0.05%
DKS	F	-0.05%
SNA	A	-0.05%
PPL	A	-0.05%
HPE	B	-0.05%
JBHT	B	-0.05%
WY	F	-0.05%
MKL	A	-0.05%
PNR	A	-0.05%
ANSS	B	-0.05%
TROW	B	-0.05%
WRB	B	-0.05%
KEY	B	-0.05%
OXY	D	-0.05%
CMG	B	-0.05%
WST	B	-0.05%
PYPL	A	-0.05%
HES	C	-0.05%
NDSN	B	-0.04%
EQT	B	-0.04%
AVTR	F	-0.04%
VTR	C	-0.04%
PTC	B	-0.04%
TRU	D	-0.04%
RVTY	C	-0.04%
MKTX	C	-0.04%
GGG	B	-0.04%
WDC	D	-0.04%
FIS	B	-0.04%
HOOD	B	-0.04%
MAR	A	-0.04%
LHX	A	-0.04%
IEX	B	-0.04%
TYL	B	-0.04%
EG	D	-0.04%
BSX	A	-0.04%
ACM	B	-0.04%
CG	C	-0.04%
L	A	-0.04%
PFE	F	-0.04%
CBOE	D	-0.04%
MDT	D	-0.04%
SYK	A	-0.04%
SWK	F	-0.04%
DVN	F	-0.04%
FSLR	F	-0.04%
HUBB	B	-0.04%
APO	B	-0.04%
BEN	C	-0.03%
GLPI	D	-0.03%
MRO	B	-0.03%
MCK	A	-0.03%
CTRA	B	-0.03%
ENPH	F	-0.03%
SQ	B	-0.03%
FLUT	A	-0.03%
BBWI	C	-0.03%
TDY	A	-0.03%
TECH	B	-0.03%
BMY	B	-0.03%
ERIE	F	-0.03%
TPL	B	-0.03%
GEN	A	-0.03%
SWKS	F	-0.03%
HCA	D	-0.03%
AIZ	A	-0.03%
RCL	A	-0.03%
ENTG	D	-0.03%
ZM	B	-0.03%
SSNC	C	-0.03%
J	B	-0.03%
HWM	A	-0.03%
HLT	A	-0.03%
QRVO	F	-0.02%
BSY	F	-0.02%
DG	F	-0.02%
GPN	B	-0.02%
DOC	C	-0.02%
AFG	A	-0.02%
BIO	C	-0.02%
ALLY	C	-0.02%
DRI	B	-0.02%
ZTS	D	-0.02%
OVV	C	-0.02%
PAYC	B	-0.02%
CNH	D	-0.02%
SNOW	C	-0.02%
YUM	B	-0.02%
Z	B	-0.02%
JBL	C	-0.02%
UHAL	C	-0.02%
ARE	F	-0.02%
CRL	C	-0.02%
TRMB	B	-0.02%
DAY	C	-0.02%
TTC	F	-0.02%
BDX	D	-0.02%
AXON	B	-0.02%
SMCI	F	-0.02%
DAL	A	-0.02%
KNX	B	-0.02%
BAX	F	-0.01%
UHS	D	-0.01%
HOLX	D	-0.01%
WBA	D	-0.01%
DGX	A	-0.01%
WYNN	F	-0.01%
MOH	F	-0.01%
ZBH	C	-0.01%
MGM	D	-0.01%
STE	F	-0.01%
EPAM	B	-0.01%
HEI	B	-0.01%
OKTA	C	-0.01%
VTRS	B	-0.01%
VRSN	C	-0.01%
CHRD	F	-0.01%
DPZ	C	-0.01%
AKAM	F	-0.01%
LH	A	-0.01%
DXCM	C	-0.01%
TWLO	A	-0.01%
RMD	C	-0.01%
CAH	A	-0.01%
LUV	B	-0.01%
RIVN	D	-0.01%
APA	F	-0.01%
DLTR	F	-0.01%
CPAY	A	-0.01%
EW	D	-0.01%
GEHC	F	-0.01%
LVS	C	-0.01%
DINO	D	-0.01%
CCL	A	-0.01%
COR	A	-0.01%
H	B	-0.0%
HII	D	-0.0%
DVA	C	-0.0%
PODD	B	-0.0%
JKHY	C	-0.0%
HEI	B	-0.0%
FNF	C	-0.0%