NZAC vs. HDGE ETF Comparison

Comparison of SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) to Ranger Equity Bear Bear ETF (HDGE)

NZAC

SPDR MSCI ACWI Climate Paris Aligned ETF

NZAC Description

The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index is designed to exceed the minimum standards for a "Paris-Aligned Benchmark" under the EU BMR. A Paris-Aligned Benchmark is designed to align with a principal objective of the Paris Agreement to limit the increase in the global average temperature to well below 2 degrees Celsius above pre-industrial levels.

Grade (RS Rating)

Last Trade

$36.83

Average Daily Volume

14,051

Number of Holdings ^*

367

* may have additional holdings in another (foreign) market

HDGE

Ranger Equity Bear Bear ETF

HDGE Description

The investment seeks capital appreciation through short sales of domestically traded equity securities. The Sub-Advisor seeks to achieve the fund's investment objective by short selling a portfolio of liquid mid- and large-cap U.S. exchange-traded equity securities, ETFs registered pursuant to the 1940 Act, ETNs and other ETPs. The Sub-Advisor implements a bottom-up, fundamental, research driven security selection process that seeks to identify securities with low earnings quality or aggressive accounting that may tend to mask operational deterioration and bolster the reported earnings per share over a short time period.

Grade (RS Rating)

Last Trade

$19.00

Average Daily Volume

103,954

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	NZAC	HDGE
30 Days	1.86%	0.46%
60 Days	3.64%	-1.25%
90 Days	6.03%	-10.21%
12 Months	30.44%	-9.81%

12 Overlapping Holdings

Symbol	Grade	Weight in NZAC	Weight in HDGE	Overlap
ALB	F	0.01%	-1.23%	-1.23%
ANSS	D	0.02%	-0.98%	-0.98%
COIN	F	0.02%	-1.14%	-1.14%
DEO	D	0.12%	-1.11%	-1.11%
HUM	F	0.08%	-1.21%	-1.21%
LKQ	F	0.03%	-0.96%	-0.96%
MAR	C	0.02%	-1.82%	-1.82%
PAYC	D	0.01%	-2.49%	-2.49%
SNA	C	0.01%	-1.36%	-1.36%
VRT	C	0.02%	-1.52%	-1.52%
WFC	D	0.18%	-1.32%	-1.32%
XRX	F	0.02%	-1.17%	-1.17%

NZAC Overweight 355 Positions Relative to HDGE

Symbol	Grade	Weight
AAPL	C	4.47%
MSFT	C	4.24%
NVDA	D	3.97%
AMZN	C	2.21%
META	A	1.55%
GOOG	D	1.33%
LLY	C	1.18%
AVGO	C	1.13%
TSLA	C	0.96%
GOOGL	D	0.95%
JPM	D	0.92%
EIX	C	0.84%
UNH	C	0.78%
V	C	0.7%
JNJ	C	0.67%
IBM	A	0.63%
MA	B	0.62%
ABBV	C	0.6%
MRK	D	0.57%
SHW	B	0.56%
HD	A	0.55%
ORCL	B	0.53%
ADI	C	0.51%
NVS	C	0.46%
NFLX	B	0.42%
SPGI	A	0.4%
ABBV	C	0.4%
ACN	C	0.39%
XYL	D	0.39%
BRK.A	C	0.38%
ADBE	F	0.38%
TMO	C	0.38%
TJX	C	0.37%
MCD	B	0.37%
BAC	D	0.36%
DLR	B	0.35%
CSCO	B	0.35%
WMT	B	0.34%
NOW	A	0.34%
AXP	B	0.33%
ACM	B	0.33%
CRM	D	0.33%
EQIX	B	0.32%
AMD	D	0.31%
ITW	C	0.31%
BSX	B	0.3%
INTU	C	0.3%
ISRG	C	0.29%
AFL	C	0.28%
QCOM	F	0.28%
TXN	C	0.27%
PLD	C	0.25%
AMGN	B	0.25%
BLK	B	0.24%
CMCSA	D	0.24%
MDT	C	0.24%
ELV	C	0.24%
SYK	C	0.24%
LOW	A	0.24%
CB	B	0.24%
MSI	B	0.24%
ETN	C	0.24%
PFE	C	0.23%
MCO	A	0.23%
UNP	C	0.23%
DHR	C	0.23%
DIS	D	0.23%
BABA	B	0.23%
PH	A	0.22%
PGR	A	0.22%
VZ	B	0.22%
MMC	C	0.21%
TD	A	0.21%
BMY	C	0.21%
FSLR	C	0.2%
MET	A	0.2%
ABT	C	0.2%
PNR	B	0.2%
PWR	B	0.2%
BKNG	B	0.19%
ADP	B	0.19%
MS	C	0.19%
T	C	0.18%
GLW	B	0.18%
GWW	A	0.18%
ZTS	C	0.18%
KLAC	D	0.18%
CBRE	A	0.17%
UBER	C	0.17%
CDW	D	0.17%
ORLY	D	0.17%
SONY	C	0.17%
FFIV	B	0.16%
MELI	B	0.16%
PNC	A	0.16%
BX	B	0.16%
SCHW	D	0.15%
FAST	C	0.15%
INTC	F	0.15%
VRTX	D	0.15%
SBUX	C	0.15%
REGN	C	0.15%
ALL	B	0.14%
PRU	C	0.14%
ACGL	B	0.14%
HDB	B	0.14%
AIG	D	0.14%
TDG	B	0.14%
DE	B	0.14%
SPG	A	0.14%
EBAY	B	0.14%
TRV	B	0.14%
JNPR	A	0.14%
AME	C	0.14%
WELL	C	0.14%
AMP	B	0.13%
AVB	C	0.13%
HPE	D	0.13%
PANW	C	0.13%
IQV	D	0.13%
AMT	C	0.13%
AMAT	D	0.13%
ICE	C	0.13%
PSA	B	0.12%
NKE	D	0.12%
CME	C	0.12%
HIG	B	0.12%
APO	B	0.12%
INFY	C	0.12%
COF	A	0.11%
KKR	A	0.11%
TEL	D	0.11%
MRVL	C	0.11%
PYPL	B	0.11%
NEM	B	0.11%
EW	F	0.11%
PPG	D	0.11%
LRCX	F	0.11%
USB	B	0.11%
BK	A	0.11%
BDX	F	0.11%
TMUS	C	0.11%
CHD	C	0.1%
TDY	C	0.1%
AZO	D	0.1%
GIS	B	0.1%
ENPH	D	0.1%
AON	B	0.1%
ROST	C	0.1%
ESS	C	0.1%
APH	C	0.1%
EQH	C	0.09%
CSX	D	0.09%
LI	D	0.09%
ALLE	C	0.09%
KDP	B	0.09%
FTV	C	0.09%
WM	D	0.09%
SCCO	D	0.08%
RS	D	0.08%
YUM	F	0.08%
MTB	A	0.08%
AIZ	B	0.08%
IDXX	D	0.08%
PAYX	C	0.08%
EQR	C	0.08%
ROK	F	0.08%
LIN	B	0.08%
BR	D	0.08%
RMD	C	0.08%
CTSH	C	0.08%
CCI	C	0.08%
ADSK	C	0.08%
REG	C	0.08%
SHOP	C	0.08%
MU	F	0.08%
KEYS	C	0.07%
UPS	F	0.07%
GRMN	D	0.07%
CHTR	D	0.07%
MKL	C	0.07%
LEN	C	0.07%
MTD	D	0.07%
DFS	B	0.07%
WTW	C	0.07%
FTNT	B	0.07%
BXP	B	0.07%
LULU	D	0.07%
DHI	C	0.07%
CMG	C	0.07%
WRB	C	0.07%
AFG	B	0.07%
WIT	C	0.07%
WAB	A	0.07%
MUFG	D	0.07%
O	C	0.07%
AJG	D	0.07%
TRMB	C	0.06%
NTAP	D	0.06%
VTR	C	0.06%
RF	B	0.06%
GILD	B	0.06%
IRM	B	0.06%
ANET	A	0.06%
HSY	D	0.06%
CINF	C	0.06%
A	C	0.06%
ECL	A	0.06%
FIS	B	0.06%
SYF	C	0.06%
PDD	F	0.06%
EXR	B	0.05%
TTD	B	0.05%
TCOM	C	0.05%
HOLX	C	0.05%
GS	C	0.05%
BRO	C	0.05%
PCAR	D	0.05%
HSIC	D	0.05%
ULTA	D	0.05%
NSC	C	0.04%
LYV	B	0.04%
BCS	B	0.04%
CPRT	D	0.04%
AVTR	C	0.04%
STZ	D	0.04%
ALNY	C	0.04%
PLTR	A	0.04%
NTRS	B	0.04%
CTAS	C	0.04%
CPAY	C	0.04%
NDAQ	A	0.04%
BIIB	F	0.04%
IEX	D	0.04%
ERIE	B	0.04%
AXON	A	0.04%
ABNB	D	0.04%
TROW	D	0.04%
UHAL	B	0.04%
TER	D	0.04%
URI	B	0.04%
EL	F	0.04%
ZBH	F	0.04%
PHM	B	0.04%
VRSK	D	0.04%
GPN	D	0.04%
TGT	C	0.03%
MMM	A	0.03%
GDDY	C	0.03%
DLTR	F	0.03%
RJF	C	0.03%
BAH	B	0.03%
MNST	D	0.03%
CSGP	D	0.03%
NVR	B	0.03%
ALGN	D	0.03%
FOX	B	0.03%
BAX	C	0.03%
XPEV	C	0.03%
VICI	C	0.03%
STE	C	0.03%
VLTO	B	0.03%
EG	C	0.03%
CCEP	B	0.03%
VEEV	C	0.03%
CARR	B	0.03%
IT	A	0.03%
EFX	C	0.03%
CEG	A	0.03%
SBAC	C	0.03%
FOXA	B	0.03%
BIDU	F	0.03%
OMC	B	0.03%
AZN	D	0.03%
CBOE	C	0.03%
DXCM	F	0.03%
BURL	C	0.03%
ILMN	C	0.03%
TW	B	0.02%
IPG	C	0.02%
STT	B	0.02%
WPC	C	0.02%
HBAN	B	0.02%
LYG	B	0.02%
DASH	B	0.02%
TEVA	D	0.02%
TT	A	0.02%
SEIC	C	0.02%
ZM	C	0.02%
ROL	C	0.02%
WST	D	0.02%
WAT	C	0.02%
RPRX	D	0.02%
ZBRA	B	0.02%
NIO	D	0.02%
PODD	B	0.02%
SQ	D	0.02%
DGX	C	0.02%
SMCI	F	0.02%
HEI	A	0.02%
SNOW	F	0.02%
ODFL	D	0.02%
HLT	B	0.02%
MOH	D	0.02%
BMRN	F	0.02%
TFX	C	0.02%
CTLT	B	0.02%
MRNA	F	0.02%
ASAI	F	0.02%
BCH	C	0.02%
ROP	C	0.02%
POOL	D	0.02%
WDAY	D	0.02%
STLD	D	0.01%
BBWI	F	0.01%
WYNN	D	0.01%
MBAVU	C	0.01%
MSTR	D	0.01%
QGEN	C	0.01%
SQ	D	0.01%
C	D	0.01%
MTCH	C	0.01%
EPAM	F	0.01%
SNAP	F	0.01%
NXPI	D	0.01%
JKHY	C	0.01%
DOCU	C	0.01%
SWKS	F	0.01%
BIO	C	0.01%
EXAS	C	0.01%
SUI	C	0.01%
EA	D	0.01%
TECH	D	0.01%
FDS	C	0.01%
INCY	C	0.01%
KVUE	C	0.01%
QFIN	B	0.01%
CLX	C	0.01%
MAS	B	0.01%
MKTX	C	0.01%
RIVN	F	0.01%
CG	D	0.01%
Z	B	0.01%
KB	C	0.01%
DOC	C	0.01%
TRU	B	0.01%
NBIX	F	0.01%
VMC	D	0.01%
PINS	F	0.01%
MKC	C	0.01%
CRWD	D	0.01%
VRSN	D	0.01%
ALLY	D	0.01%
WIT	C	0.0%
NIO	D	0.0%

NZAC Underweight 59 Positions Relative to HDGE

Symbol	Grade	Weight
ELF	F	--0.77%
CAR	F	--0.77%
HTZ	F	--0.97%
MARA	F	--0.97%
PLAB	F	--0.99%
VLY	C	--1.0%
ZS	F	--1.0%
ASAN	F	--1.01%
BRZE	F	--1.02%
NGVT	D	--1.03%
CFR	C	--1.04%
DAR	F	--1.06%
RIOT	F	--1.06%
MTRN	F	--1.07%
ENR	D	--1.07%
S	C	--1.08%
TPX	C	--1.08%
CWH	C	--1.08%
FLYW	F	--1.09%
HGV	D	--1.09%
PENN	C	--1.09%
JACK	F	--1.11%
GO	F	--1.12%
MRTN	D	--1.15%
GLBE	C	--1.17%
WDC	D	--1.17%
NCNO	D	--1.17%
WEX	C	--1.18%
JKS	D	--1.19%
DDOG	D	--1.21%
ETSY	F	--1.22%
PTC	D	--1.25%
CNXC	F	--1.27%
PCOR	F	--1.29%
SABR	C	--1.29%
ON	F	--1.3%
ROKU	C	--1.3%
CFLT	F	--1.32%
PI	B	--1.33%
AAL	D	--1.33%
IRDM	D	--1.34%
LOGI	D	--1.35%
FR	C	--1.37%
ODP	F	--1.38%
CMA	A	--1.39%
INFA	D	--1.41%
LVS	D	--1.45%
CACC	F	--1.45%
NET	D	--1.45%
MCW	F	--1.48%
DKNG	C	--1.66%
WK	D	--1.66%
NTST	D	--1.69%
CVS	F	--1.73%
KSS	F	--1.76%
OZK	D	--1.95%
SIG	C	--2.02%
TEAM	D	--2.05%
WSM	D	--2.15%