QQQN vs. EMLP ETF Comparison

Comparison of VictoryShares Nasdaq Next 50 ETF (QQQN) to First Trust North American Energy Infrastructure Fund (EMLP)

QQQN

VictoryShares Nasdaq Next 50 ETF

QQQN Description

The investment seeks to provide investment results that track the performance of the Nasdaq Q-50 Index before fees and expenses. The fund seeks to achieve its investment objective by investing at least 80% of its assets in securities in the index. The index is composed of the 50 largest nonfinancial domestic and international companies listed on The Nasdaq Stock Market based on market capitalization after excluding the companies included in the Nasdaq-100 Index.

Grade (RS Rating)

Last Trade

$31.27

Average Daily Volume

6,151

Number of Holdings ^*

* may have additional holdings in another (foreign) market

EMLP

First Trust North American Energy Infrastructure Fund

EMLP Description

The investment seeks total return. The fund invests at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in equity securities of companies deemed by the sub-advisor to be engaged in the energy infrastructure sector. These companies principally include publicly-traded master limited partnerships and limited liability companies taxed as partnerships ("MLPs"), MLP affiliates, Canadian income trusts and their successor companies, pipeline companies, utilities, and other companies. It is non-diversified.

Grade (RS Rating)

Last Trade

$34.23

Average Daily Volume

164,271

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	QQQN	EMLP
30 Days	7.42%	5.25%
60 Days	15.05%	11.72%
90 Days	7.94%	13.15%
12 Months	30.25%	38.19%

1 Overlapping Holdings

	Symbol	Grade	Weight in QQQN	Weight in EMLP	Overlap
	LNT	B	1.5%	1.75%	1.5%

QQQN Overweight 47 Positions Relative to EMLP

Symbol	Grade	Weight
MPWR	B	3.85%
APP	A	3.71%
ALNY	C	3.44%
EBAY	A	3.05%
TSCO	A	3.0%
AXON	A	2.9%
MSTR	B	2.83%
FSLR	C	2.67%
NTAP	D	2.49%
WDC	C	2.36%
ICLR	F	2.31%
STX	C	2.27%
TER	C	2.19%
CHKP	A	2.15%
PTC	B	2.12%
TCOM	A	2.05%
DKNG	C	1.94%
STLD	C	1.89%
UAL	A	1.89%
ULTA	D	1.87%
ZBRA	B	1.87%
HOLX	D	1.82%
ALGN	D	1.82%
EXPE	B	1.81%
SSNC	C	1.78%
VRSN	C	1.77%
ZM	B	1.76%
ENTG	D	1.72%
JBHT	D	1.71%
MANH	A	1.7%
ARGX	C	1.64%
SNY	C	1.63%
SWKS	F	1.56%
UTHR	C	1.55%
ENPH	F	1.5%
NTRA	A	1.49%
AKAM	D	1.48%
NTNX	C	1.47%
NDSN	C	1.46%
BSY	D	1.44%
CPB	D	1.44%
BMRN	F	1.3%
BNTX	B	1.13%
NWSA	D	0.97%
FOXA	B	0.93%
FOX	B	0.89%
NWS	D	0.52%

QQQN Underweight 49 Positions Relative to EMLP

Symbol	Grade	Weight
EPD	A	-8.19%
ET	A	-6.72%
OKE	A	-5.1%
KMI	A	-4.63%
PAGP	B	-4.59%
SRE	C	-4.06%
DTM	A	-4.05%
MPLX	B	-3.87%
TRGP	A	-3.08%
NFG	A	-3.01%
PEG	A	-2.82%
PPL	C	-2.57%
AEP	C	-2.38%
PWR	A	-2.32%
WMB	A	-2.16%
ATO	A	-1.78%
LNG	A	-1.45%
ETR	A	-1.42%
WEC	B	-1.38%
CMS	A	-1.28%
XEL	C	-1.27%
VST	A	-1.24%
EVRG	C	-1.21%
AES	C	-1.2%
SUN	D	-1.16%
DTE	B	-1.16%
OGS	C	-1.13%
FLR	B	-1.11%
CQP	D	-0.85%
WLKP	D	-0.82%
NEP	D	-0.82%
DUK	C	-0.76%
CNP	B	-0.66%
HESM	C	-0.66%
WTRG	D	-0.62%
CWEN	C	-0.57%
AROC	B	-0.53%
D	A	-0.53%
SO	A	-0.5%
IDA	D	-0.49%
NJR	C	-0.47%
CEG	A	-0.32%
AEE	A	-0.29%
CPK	C	-0.25%
USAC	D	-0.12%
EXC	C	-0.11%
UGI	C	-0.08%
AWK	D	-0.06%
ENLC	A	-0.0%