SEF vs. TWIO ETF Comparison

Comparison of ProShares Short Financials (SEF) to Trajan Wealth Income Opportunities ETF (TWIO)

SEF

ProShares Short Financials

SEF Description

The investment seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the Dow Jones U.S. FinancialsSM Index. The fund invests in derivatives that ProShare Advisors believes, in combination, should have similar daily return characteristics as the inverse (-1x) of the daily return of the index. The index measures the performance of the financial services sector of the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$34.30

Average Daily Volume

11,897

Number of Holdings ^*

* may have additional holdings in another (foreign) market

TWIO

Trajan Wealth Income Opportunities ETF

TWIO Description

Spinnaker ETF Series - Trajan Wealth Income Opportunities ETF is an exchange traded fund launched and managed by OBP Capital, LLC. The fund is co-managed by Trajan Wealth, LLC. It invests in the public equity and fixed income markets of the United States. For it equity portion, the fund invests in stocks of companies operating across diversified sectors. It invests in growth and value stocks of companies operating across diversified market capitalization. For its fixed income, the fund primarily invests in preferred securities and income producing fixed income securities with varying maturities. The fund employs fundamental analysis with bottom-up and top-down securities picking approach to create its portfolio. Spinnaker ETF Series - Trajan Wealth Income Opportunities ETF is domiciled in the United States.

Grade (RS Rating)

Last Trade

$9.26

Average Daily Volume

6,775

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	SEF	TWIO
30 Days	-5.84%	-0.27%
60 Days	-8.90%	-2.06%
90 Days	-10.72%	0.11%
12 Months	-25.91%	12.46%

4 Overlapping Holdings

Symbol	Grade	Weight in SEF	Weight in TWIO	Overlap
AIG	B	0.77%	1.96%	0.77%
BX	A	0.67%	2.5%	0.67%
C	A	2.98%	2.78%	2.78%
PSA	C	0.56%	1.87%	0.56%

SEF Overweight 93 Positions Relative to TWIO

Symbol	Grade	Weight
BRK.A	B	7.56%
JPM	A	7.27%
V	A	5.88%
MA	B	4.83%
BAC	A	4.46%
WFC	A	3.19%
AMT	C	1.74%
AXP	A	1.49%
GS	A	1.34%
USB	A	1.32%
TFC	A	1.27%
CME	B	1.25%
SPGI	C	1.22%
MS	A	1.19%
CB	C	1.17%
PNC	B	1.13%
BLK	B	1.06%
CCI	C	1.02%
PLD	F	1.0%
MMC	B	0.97%
SCHW	B	0.93%
ICE	C	0.91%
EQIX	A	0.84%
AON	A	0.83%
COF	C	0.81%
SPG	A	0.76%
PGR	A	0.75%
MCO	B	0.7%
MET	A	0.69%
PRU	A	0.66%
AFL	B	0.66%
BK	A	0.65%
ALL	A	0.64%
TRV	B	0.61%
WELL	A	0.59%
TROW	B	0.52%
AVB	B	0.51%
STT	B	0.5%
SBAC	D	0.48%
EQR	C	0.48%
DLR	B	0.44%
WTW	B	0.44%
DFS	B	0.44%
O	C	0.42%
MSCI	C	0.4%
CSGP	D	0.4%
WY	F	0.39%
NTRS	A	0.39%
AMP	A	0.37%
VTR	B	0.37%
HIG	B	0.37%
SYF	B	0.36%
MTB	A	0.36%
FITB	B	0.35%
BXP	C	0.34%
CBRE	B	0.34%
ESS	B	0.34%
ARE	F	0.32%
KEY	B	0.32%
ACGL	C	0.31%
CFG	B	0.3%
DOC	C	0.3%
AJG	A	0.3%
INVH	D	0.28%
MKL	A	0.28%
RF	A	0.27%
CINF	A	0.27%
HBAN	A	0.26%
MAA	B	0.26%
PFG	D	0.25%
MKTX	D	0.24%
WPC	C	0.24%
SUI	C	0.24%
EXR	C	0.24%
L	A	0.23%
NLY	C	0.23%
UDR	B	0.23%
HST	C	0.22%
ELS	C	0.22%
FNF	B	0.22%
NDAQ	A	0.21%
RJF	A	0.2%
LNC	C	0.2%
EG	C	0.19%
MPW	F	0.19%
ALLY	C	0.19%
EQH	C	0.19%
GL	C	0.18%
FDS	B	0.18%
REG	A	0.18%
VNO	C	0.18%
CPT	B	0.18%
WRB	A	0.17%

SEF Underweight 13 Positions Relative to TWIO

Symbol	Grade	Weight
IBM	C	-2.88%
OGE	A	-2.62%
WMB	A	-2.52%
VZ	C	-2.3%
BKH	A	-2.25%
K	A	-2.18%
SBLK	F	-2.04%
XOM	B	-1.92%
KO	D	-1.91%
FSK	A	-1.89%
SON	F	-1.89%
CMSC	C	-1.8%
ABBV	F	-1.8%