REM vs. LBAY ETF Comparison

Comparison of iShares Mortgage Real Estate Capped ETF (REM) to Leatherback Long/Short Alternative Yield ETF (LBAY)

REM

iShares Mortgage Real Estate Capped ETF

REM Description

The investment seeks to track the investment results of an index composed of U.S. real estate investment trusts ("REITs") that hold U.S. residential and commercial mortgages. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. The underlying index measures the performance of the residential and commercial mortgage real estate, mortgage finance and savings associations sectors of the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$22.82

Average Daily Volume

422,636

Number of Holdings ^*

* may have additional holdings in another (foreign) market

LBAY

Leatherback Long/Short Alternative Yield ETF

LBAY Description

The investment seeks capital appreciation and income. The fund is an actively-managed ETF that seeks to achieve its investment objective by purchasing long positions in securities believed to provide sustainable shareholder yield (defined as dividends plus buybacks plus debt paydowns) and taking short positions in securities expected to decline in price. It will generally have net exposure of 75% - 110% long. The fund's long positions are generally expected to be comprised of equity securities or depositary receipts, although long positions may also include investment-grade corporate bonds and convertible bonds. It is non-diversified.

Grade (RS Rating)

Last Trade

$26.13

Average Daily Volume

2,579

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	REM	LBAY
30 Days	-2.93%	-6.09%
60 Days	-4.79%	-4.56%
90 Days	-0.36%	-2.99%
12 Months	11.50%	4.56%

1 Overlapping Holdings

	Symbol	Grade	Weight in REM	Weight in LBAY	Overlap
	AGNC	C	11.08%	4.41%	4.41%

REM Overweight 32 Positions Relative to LBAY

Symbol	Grade	Weight
NLY	C	15.42%
STWD	C	9.48%
RITM	D	8.59%
ABR	B	5.28%
BXMT	C	4.74%
LADR	B	3.12%
ARI	C	3.08%
CIM	D	2.88%
TWO	D	2.88%
RC	D	2.76%
MFA	D	2.75%
PMT	D	2.73%
FBRT	C	2.54%
EFC	C	2.4%
RWT	D	2.26%
ARR	D	2.21%
DX	A	2.2%
BRSP	C	1.91%
KREF	D	1.64%
CMTG	D	1.52%
ORC	C	1.32%
NYMT	C	1.27%
TRTX	B	1.27%
IVR	D	0.96%
ACRE	B	0.9%
REFI	A	0.63%
SEVN	C	0.39%
AFCG	D	0.38%
GPMT	B	0.37%
NREF	A	0.31%
AOMR	F	0.27%
SUNS	A	0.2%

REM Underweight 51 Positions Relative to LBAY

Symbol	Grade	Weight
LW	C	-4.96%
XOM	B	-4.78%
ORI	A	-4.77%
MO	A	-4.64%
NEM	D	-4.59%
BG	D	-4.57%
CMCSA	B	-4.57%
FIS	C	-4.54%
VTRS	A	-4.48%
ZBH	C	-4.41%
CVS	F	-4.36%
BERY	D	-4.14%
ICE	C	-4.08%
MTN	C	-3.91%
V	A	-3.89%
MDT	D	-3.86%
UNP	D	-3.77%
T	A	-3.64%
LHX	B	-3.59%
EBAY	D	-3.58%
MMM	D	-3.53%
AWK	C	-3.45%
BKNG	A	-3.37%
RIO	D	-3.28%
MSCI	B	-3.15%
APD	A	-3.11%
SPGI	D	-2.92%
PCH	D	-2.79%
DE	C	-2.68%
SHAK	C	--1.21%
DKS	D	--1.21%
BURL	A	--1.26%
SITE	D	--1.27%
RBLX	B	--1.29%
EQIX	A	--1.38%
TSLA	A	--1.45%
EVR	B	--1.46%
SF	B	--1.48%
LLY	F	--1.48%
DKNG	B	--1.49%
DLR	A	--1.51%
CVNA	A	--1.53%
AAPL	C	--1.53%
DAL	A	--1.53%
TOL	B	--1.54%
PLNT	A	--1.54%
AVGO	C	--1.54%
SQ	A	--1.56%
VRT	A	--1.63%
OLLI	D	--1.69%
DUOL	A	--1.85%