SHUS vs. ITAN ETF Comparison

Comparison of Syntax Stratified U.S. Total Market Hedged ETF (SHUS) to Sparkline Intangible Value ETF (ITAN)

SHUS

Syntax Stratified U.S. Total Market Hedged ETF

SHUS Description

The investment seeks to obtain capital growth that meets or exceeds the performance of the S&P Composite 1500® Index over a full market cycle by investing in ETFs or underlying securities that provide Stratified WeightTM U.S. total equity market exposure to companies in the 1500 while seeking risk-managed growth via a defined risk hedging process. The fund will also invest in index options for risk management purposes and to seek to generate additional returns. Syntax?s Stratified Weight? is designed to correct for business risk concentrations that regularly occur in cap-weighted indices and equal-weighted indices.

Grade (RS Rating)

Last Trade

$44.29

Average Daily Volume

2,444

Number of Holdings ^*

500

* may have additional holdings in another (foreign) market

ITAN

Sparkline Intangible Value ETF

ITAN Description

The investment seeks long-term capital appreciation. The fund is an actively-managed exchange-traded fund (âETFâ). The fund will invest in U.S.-listed equity securities that Sparkline Capital LP (the âSub-Adviserâ) believes are attractive relative to its proprietary measure of âintangible-augmented intrinsic value.â The fundâs investments may include common stocks and Real Estate Investment Trusts (REITs). Although the fund will not concentrate its investments in a particular industry, the Sub-Adviser anticipates that fund will hold a meaningful amount of stocks in the technology, communications, healthcare, and consumer discretionary sectors.

Grade (RS Rating)

Last Trade

$32.05

Average Daily Volume

1,878

Number of Holdings ^*

151

* may have additional holdings in another (foreign) market

Performance

Period	SHUS	ITAN
30 Days	2.26%	5.34%
60 Days	3.81%	7.33%
90 Days	5.24%	9.71%
12 Months	15.89%	31.35%

95 Overlapping Holdings

Symbol	Grade	Weight in SHUS	Weight in ITAN	Overlap
ACN	C	0.13%	1.58%	0.13%
ADSK	A	0.16%	0.64%	0.16%
AKAM	D	0.26%	0.33%	0.26%
ALL	A	0.19%	0.74%	0.19%
AMZN	C	0.21%	4.72%	0.21%
BA	F	0.16%	1.03%	0.16%
BAX	D	0.05%	0.45%	0.05%
BBY	D	0.17%	0.45%	0.17%
BDX	F	0.05%	0.69%	0.05%
BIIB	F	0.24%	0.4%	0.24%
BMY	B	0.25%	1.04%	0.25%
BWA	D	0.41%	0.22%	0.22%
CAH	B	0.19%	0.52%	0.19%
CHTR	C	0.46%	0.71%	0.46%
CMCSA	B	0.51%	1.07%	0.51%
CMI	A	0.08%	0.85%	0.08%
CNC	D	0.25%	0.56%	0.25%
COF	B	0.69%	1.08%	0.69%
CRM	B	0.35%	2.09%	0.35%
CSCO	B	0.21%	1.77%	0.21%
CTSH	B	0.13%	0.77%	0.13%
CVS	D	0.68%	0.96%	0.68%
DAL	C	0.27%	0.61%	0.27%
DD	D	0.05%	0.45%	0.05%
DELL	C	0.17%	1.13%	0.17%
DGX	A	0.16%	0.44%	0.16%
DIS	B	0.2%	1.25%	0.2%
DVA	B	0.11%	0.38%	0.11%
EA	A	0.48%	0.55%	0.48%
EBAY	D	0.22%	0.66%	0.22%
EMN	D	0.05%	0.35%	0.05%
EXPE	B	0.12%	0.59%	0.12%
F	C	0.24%	0.81%	0.24%
FDX	B	0.07%	0.86%	0.07%
FFIV	B	0.2%	0.46%	0.2%
GD	F	0.16%	0.64%	0.16%
GILD	C	0.24%	0.9%	0.24%
GLW	B	0.19%	0.6%	0.19%
GM	B	0.24%	0.97%	0.24%
GOOG	C	0.22%	2.11%	0.22%
GOOGL	C	0.22%	2.11%	0.22%
HAS	D	0.25%	0.26%	0.25%
HON	B	0.16%	1.21%	0.16%
HPE	B	0.19%	0.63%	0.19%
HPQ	B	0.34%	0.74%	0.34%
HUM	C	0.26%	0.56%	0.26%
IBM	C	0.33%	1.76%	0.33%
INTC	D	0.16%	1.25%	0.16%
IP	B	0.06%	0.36%	0.06%
IQV	D	0.13%	0.43%	0.13%
IVZ	B	0.09%	0.24%	0.09%
J	F	0.39%	0.41%	0.39%
JBL	B	0.37%	0.37%	0.37%
JCI	C	0.08%	0.68%	0.08%
JNPR	F	0.19%	0.4%	0.19%
KR	B	0.73%	0.51%	0.51%
LDOS	C	0.13%	0.47%	0.13%
LH	C	0.16%	0.44%	0.16%
LHX	C	0.08%	0.71%	0.08%
LMT	D	0.08%	0.38%	0.08%
MDT	D	0.06%	1.15%	0.06%
META	D	0.46%	2.91%	0.46%
MMM	D	0.17%	0.88%	0.17%
MTCH	D	0.46%	0.24%	0.24%
NOC	D	0.08%	0.88%	0.08%
NTAP	C	0.17%	0.64%	0.17%
NWSA	B	0.1%	0.34%	0.1%
NXPI	D	0.23%	0.67%	0.23%
ORCL	B	0.34%	2.38%	0.34%
PANW	C	0.16%	0.89%	0.16%
PARA	C	0.2%	0.28%	0.2%
PFE	D	0.24%	1.32%	0.24%
PRU	A	0.2%	0.54%	0.2%
PYPL	B	0.06%	1.09%	0.06%
QCOM	F	0.22%	1.53%	0.22%
QRVO	F	0.21%	0.2%	0.2%
ROK	B	0.03%	0.45%	0.03%
RTX	C	0.08%	1.22%	0.08%
SWK	D	0.26%	0.29%	0.26%
SWKS	F	0.21%	0.33%	0.21%
T	A	0.33%	1.63%	0.33%
TAP	C	0.25%	0.3%	0.25%
TGT	F	0.17%	0.83%	0.17%
TMUS	B	0.33%	1.43%	0.33%
TPR	B	0.32%	0.38%	0.32%
TRMB	B	0.03%	0.43%	0.03%
TXT	D	0.16%	0.29%	0.16%
UAL	A	0.28%	0.76%	0.28%
VTRS	A	0.24%	0.51%	0.24%
VZ	C	0.32%	1.36%	0.32%
WBA	F	0.63%	0.27%	0.27%
WBD	C	0.19%	0.55%	0.19%
WDC	D	0.17%	0.55%	0.17%
WFC	A	0.13%	1.56%	0.13%
ZBRA	B	0.13%	0.45%	0.13%

SHUS Overweight 405 Positions Relative to ITAN

Symbol	Grade	Weight
CVX	A	0.75%
XOM	B	0.75%
SYY	B	0.73%
WMT	A	0.72%
ROST	C	0.71%
TJX	A	0.71%
COST	B	0.7%
SYF	B	0.68%
DFS	B	0.68%
DPZ	C	0.52%
PSX	C	0.5%
DRI	B	0.5%
YUM	B	0.5%
L	A	0.49%
EL	F	0.49%
VLO	C	0.49%
MSI	B	0.49%
MCD	D	0.49%
AAPL	C	0.49%
CMG	B	0.49%
BRK.A	B	0.49%
SBUX	A	0.48%
MPC	D	0.48%
TTWO	A	0.48%
CLX	B	0.41%
KVUE	A	0.41%
KMB	D	0.41%
PG	A	0.41%
CHD	B	0.41%
VST	B	0.4%
PWR	A	0.4%
CL	D	0.4%
APTV	D	0.39%
CEG	D	0.38%
HRL	D	0.36%
ADM	D	0.36%
BG	F	0.36%
PM	B	0.35%
BKR	B	0.35%
MO	A	0.35%
TSN	B	0.35%
SLB	C	0.34%
SNPS	B	0.34%
NKE	D	0.33%
IPG	D	0.33%
OMC	C	0.33%
HCA	F	0.33%
CDNS	B	0.33%
HAL	C	0.33%
AWK	D	0.32%
MSFT	F	0.32%
RL	B	0.32%
UHS	D	0.32%
ATO	A	0.32%
NI	A	0.32%
GRMN	B	0.32%
NRG	B	0.32%
AES	F	0.31%
NVR	D	0.3%
LULU	C	0.3%
FCX	D	0.29%
EXC	C	0.29%
DECK	A	0.29%
VRSN	F	0.27%
STLD	B	0.27%
TSLA	B	0.27%
MS	A	0.26%
HUBB	B	0.26%
ETN	A	0.26%
EQIX	A	0.26%
DLR	B	0.26%
GDDY	A	0.26%
ZTS	D	0.25%
STZ	D	0.25%
PHM	D	0.25%
MOH	F	0.25%
LUV	C	0.25%
KMI	A	0.25%
MNST	C	0.25%
ETR	B	0.25%
SNA	A	0.25%
INCY	C	0.25%
SCHW	B	0.25%
CNP	B	0.25%
RJF	A	0.25%
UNH	C	0.25%
LOW	D	0.25%
ENPH	F	0.25%
NUE	C	0.25%
HD	A	0.25%
PEG	A	0.25%
GS	A	0.25%
AEP	D	0.24%
MRK	F	0.24%
D	C	0.24%
TRGP	B	0.24%
OKE	A	0.24%
FE	C	0.24%
ED	D	0.24%
KDP	D	0.24%
ABBV	D	0.24%
NEE	D	0.24%
WMB	A	0.24%
NEM	D	0.24%
LEN	D	0.24%
ELV	F	0.24%
KO	D	0.24%
DTE	C	0.24%
CTLT	B	0.24%
EIX	B	0.24%
REGN	F	0.23%
VRTX	F	0.23%
LLY	F	0.23%
MRNA	F	0.23%
AMGN	D	0.23%
JNJ	D	0.23%
DHI	D	0.23%
LW	C	0.22%
DAY	B	0.22%
NOW	A	0.22%
NFLX	A	0.22%
AVGO	D	0.22%
PLTR	B	0.22%
ADI	D	0.22%
CPRT	A	0.22%
TXN	C	0.22%
ON	D	0.22%
KHC	F	0.21%
ANET	C	0.21%
AOS	F	0.21%
MKC	D	0.21%
SJM	D	0.21%
MET	A	0.21%
GIS	D	0.21%
CAG	D	0.21%
ADP	B	0.21%
PAYX	C	0.21%
PAYC	B	0.21%
TYL	B	0.21%
MPWR	F	0.21%
IR	B	0.2%
IEX	B	0.2%
AFL	B	0.2%
CPB	D	0.2%
ERIE	D	0.2%
AIZ	A	0.2%
INTU	C	0.2%
HSIC	B	0.2%
FSLR	F	0.2%
KEYS	A	0.2%
PFG	D	0.2%
TEL	B	0.19%
XYL	D	0.19%
MAS	D	0.19%
PGR	A	0.19%
BBWI	D	0.19%
PNR	A	0.19%
BLDR	D	0.19%
GL	B	0.19%
AIG	B	0.19%
RSG	A	0.18%
CRWD	B	0.18%
EQT	B	0.18%
GEV	B	0.18%
WM	A	0.18%
MDLZ	F	0.18%
ROL	B	0.18%
COR	B	0.18%
K	A	0.18%
MCK	B	0.18%
CI	F	0.18%
MHK	D	0.18%
APH	A	0.18%
ANSS	B	0.17%
DG	F	0.17%
GE	D	0.17%
FTNT	C	0.17%
MLM	B	0.17%
DOV	A	0.17%
GEN	B	0.17%
ITW	B	0.17%
WY	D	0.17%
CTRA	B	0.17%
DLTR	F	0.17%
PTC	A	0.17%
KLAC	D	0.17%
VMC	B	0.17%
STX	D	0.17%
HSY	F	0.17%
PEP	F	0.17%
AMAT	F	0.17%
ULTA	F	0.17%
CTAS	B	0.17%
DVN	F	0.16%
TER	D	0.16%
TECH	D	0.15%
AZO	C	0.15%
GPC	D	0.15%
A	D	0.15%
WAT	B	0.15%
SMCI	F	0.15%
MU	D	0.15%
ADBE	C	0.15%
MTD	D	0.14%
CRL	C	0.14%
CINF	A	0.14%
URI	B	0.14%
TRV	B	0.14%
CB	C	0.14%
HIG	B	0.14%
CAT	B	0.14%
AMD	F	0.14%
ACGL	D	0.14%
EG	C	0.14%
ORLY	B	0.14%
KMX	B	0.14%
LKQ	D	0.14%
TMO	F	0.14%
IT	C	0.13%
EPAM	C	0.13%
POOL	C	0.13%
GWW	B	0.13%
C	A	0.13%
DE	A	0.13%
WAB	B	0.13%
BKNG	A	0.13%
NVDA	C	0.13%
MCHP	D	0.13%
WRB	A	0.13%
HLT	A	0.12%
SYK	C	0.12%
ABNB	C	0.12%
MAR	B	0.12%
STE	F	0.12%
ISRG	A	0.12%
CDW	F	0.12%
BAC	A	0.12%
BALL	D	0.12%
JPM	A	0.12%
ZBH	C	0.12%
FAST	B	0.12%
TSCO	D	0.12%
PCAR	B	0.12%
AMCR	D	0.12%
AME	A	0.12%
VTR	C	0.11%
WELL	A	0.11%
EXR	D	0.11%
DOC	D	0.11%
BR	A	0.11%
BXP	D	0.11%
HST	C	0.11%
BK	A	0.11%
UBER	D	0.11%
STT	A	0.11%
HOLX	D	0.1%
PODD	C	0.1%
DHR	F	0.1%
NWS	B	0.1%
RVTY	F	0.1%
ESS	B	0.1%
INVH	D	0.1%
EQR	B	0.1%
FOX	A	0.1%
UDR	B	0.1%
GEHC	F	0.1%
ALGN	D	0.1%
MAA	B	0.1%
FOXA	B	0.1%
AVB	B	0.1%
PSA	D	0.1%
ARE	D	0.1%
CPT	B	0.1%
AXON	A	0.09%
EXPD	D	0.09%
KKR	A	0.09%
CCL	B	0.09%
AMP	A	0.09%
CHRW	C	0.09%
NCLH	B	0.09%
CF	B	0.09%
BLK	C	0.09%
LYV	A	0.09%
RMD	C	0.09%
DXCM	D	0.09%
IDXX	F	0.09%
SO	D	0.08%
PPL	B	0.08%
EVRG	A	0.08%
CARR	D	0.08%
LNT	A	0.08%
AEE	A	0.08%
TT	A	0.08%
PH	A	0.08%
GNRC	B	0.08%
UNP	C	0.08%
WYNN	D	0.08%
NSC	B	0.08%
OTIS	C	0.08%
HII	D	0.08%
BX	A	0.08%
ODFL	B	0.08%
NTRS	A	0.08%
LVS	C	0.08%
MOS	F	0.08%
JBHT	C	0.08%
CSX	B	0.08%
CTVA	C	0.08%
FMC	D	0.08%
BEN	C	0.08%
TROW	B	0.08%
RCL	A	0.08%
UPS	C	0.08%
LYB	F	0.07%
SW	A	0.07%
FANG	D	0.07%
OXY	D	0.07%
PPG	F	0.07%
CZR	F	0.07%
COP	C	0.07%
MGM	D	0.07%
MRO	B	0.07%
EOG	A	0.07%
APA	D	0.07%
DOW	F	0.07%
HES	B	0.07%
PNW	B	0.07%
CE	F	0.07%
ALLE	D	0.07%
DUK	C	0.07%
WEC	A	0.07%
ES	D	0.07%
PCG	A	0.07%
SRE	A	0.07%
XEL	A	0.07%
CMS	C	0.07%
HWM	A	0.07%
FI	A	0.06%
KEY	B	0.06%
RF	A	0.06%
PNC	B	0.06%
MTB	A	0.06%
EW	C	0.06%
ABT	B	0.06%
AMT	D	0.06%
BSX	B	0.06%
KIM	A	0.06%
REG	B	0.06%
AVY	D	0.06%
FRT	B	0.06%
PLD	D	0.06%
SBAC	D	0.06%
VICI	C	0.06%
CCI	D	0.06%
PKG	A	0.06%
O	D	0.06%
SPG	B	0.06%
IRM	D	0.06%
TDG	D	0.06%
SHW	A	0.06%
MA	C	0.05%
AXP	A	0.05%
APD	A	0.05%
SOLV	C	0.05%
IFF	D	0.05%
ECL	D	0.05%
WST	C	0.05%
TFX	F	0.05%
ALB	C	0.05%
FIS	C	0.05%
JKHY	D	0.05%
HBAN	A	0.05%
TFC	A	0.05%
USB	A	0.05%
CFG	B	0.05%
FITB	A	0.05%
EFX	F	0.04%
WTW	B	0.04%
MCO	B	0.04%
AON	A	0.04%
CBRE	B	0.04%
CSGP	D	0.04%
GPN	B	0.04%
SPGI	C	0.04%
CBOE	B	0.04%
VRSK	A	0.04%
ICE	C	0.04%
FDS	B	0.04%
V	A	0.04%
NDAQ	A	0.04%
CPAY	A	0.04%
MKTX	D	0.04%
CME	A	0.04%
LIN	D	0.04%
MSCI	C	0.04%
FICO	B	0.03%
VLTO	D	0.03%
EMR	A	0.03%
NDSN	B	0.03%
FTV	C	0.03%
TDY	B	0.03%
ROP	B	0.03%
AJG	B	0.03%
MMC	B	0.03%
BRO	B	0.03%

SHUS Underweight 56 Positions Relative to ITAN

Symbol	Grade	Weight
SQ	B	-0.94%
DASH	A	-0.71%
WDAY	B	-0.67%
CVNA	B	-0.58%
DOCU	A	-0.52%
ZM	B	-0.51%
SNAP	C	-0.5%
ZS	C	-0.5%
ILMN	D	-0.5%
TWLO	A	-0.49%
NTNX	A	-0.48%
OKTA	C	-0.42%
ACM	A	-0.42%
PSTG	D	-0.4%
AAL	B	-0.4%
BAH	F	-0.4%
CIEN	B	-0.39%
EXAS	D	-0.38%
JLL	D	-0.37%
ROKU	D	-0.37%
DBX	B	-0.37%
LYFT	C	-0.36%
CACI	D	-0.35%
TRU	D	-0.33%
LUMN	C	-0.32%
ALLY	C	-0.32%
ACI	C	-0.31%
JAZZ	B	-0.3%
ELAN	D	-0.29%
U	C	-0.29%
ANF	C	-0.28%
ETSY	D	-0.28%
G	B	-0.28%
W	F	-0.28%
MASI	A	-0.27%
WHR	B	-0.27%
BOX	B	-0.26%
FAF	A	-0.26%
BIO	D	-0.25%
ALK	C	-0.25%
FLS	B	-0.24%
MAT	D	-0.24%
GAP	C	-0.23%
RIVN	F	-0.23%
NOV	C	-0.23%
UAA	C	-0.23%
PATH	C	-0.23%
DOX	D	-0.23%
ARW	D	-0.23%
RHI	B	-0.22%
HRB	D	-0.21%
AGCO	D	-0.2%
HOG	D	-0.2%
M	D	-0.16%
RUN	F	-0.14%
XRAY	F	-0.14%