SMRI vs. FWD ETF Comparison

Comparison of Bushido Capital US Equity ETF (SMRI) to AB Disruptors ETF (FWD)

SMRI

Bushido Capital US Equity ETF

SMRI Description

The fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of the fund"s net assets (plus the amount of any borrowings for investment purposes) in U.S. listed common stock.

Grade (RS Rating)

Last Trade

$33.76

Average Daily Volume

5,650

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FWD

AB Disruptors ETF

FWD Description

FWD seeks capital growth by actively investing in companies globally, believed to be at the forefront of innovative growth trends. The funds adviser considers such companies as market disrupters. Many may utilize technology to enhance or create new demand for their product or service. The selection process combines a top-down evaluation of macroeconomic growth trends with fundamental, bottom-up analysis of individual companies. Factors such as current and projected profitability, pricing power, competitiveness, technological superiority, and management robustness of a company are considered. Targeted themes may include cloud infrastructure & AI, energy transition, transportation & logistics, medical innovation, digital transactions & media, and industrial innovation. The resulting portfolio of 80-120 stocks is considered non-diversified and may heavily focus on industries within the Information Technology sector.

Grade (RS Rating)

Last Trade

$83.32

Average Daily Volume

21,624

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	SMRI	FWD
30 Days	10.89%	5.15%
60 Days	11.01%	5.42%
90 Days	12.04%	8.67%
12 Months	34.88%	44.86%

4 Overlapping Holdings

Symbol	Grade	Weight in SMRI	Weight in FWD	Overlap
ABNB	C	1.91%	0.46%	0.46%
BKNG	B	2.22%	0.63%	0.63%
EPAM	C	2.28%	1.14%	1.14%
VST	B	2.32%	2.35%	2.32%

SMRI Overweight 46 Positions Relative to FWD

Symbol	Grade	Weight
APP	B	4.07%
DAL	B	2.56%
DOCU	A	2.55%
MCK	C	2.34%
EXPE	B	2.33%
SNA	A	2.33%
ZM	B	2.2%
PCAR	B	2.16%
EME	B	2.14%
JBL	C	2.11%
HPE	B	2.1%
GEN	A	2.07%
OC	B	2.07%
CAH	B	2.04%
CVX	B	2.04%
FFIV	A	2.03%
PYPL	A	2.03%
PAYX	B	2.03%
COR	C	2.0%
UTHR	C	2.0%
EG	C	1.97%
EOG	C	1.97%
VLO	C	1.94%
NRG	C	1.93%
XOM	C	1.91%
BWA	C	1.89%
SLB	C	1.87%
FANG	F	1.84%
NUE	D	1.81%
QCOM	F	1.81%
LKQ	D	1.79%
MPC	F	1.79%
NTAP	C	1.79%
DVN	F	1.78%
NVR	D	1.76%
CI	D	1.71%
LEN	C	1.71%
BLD	C	1.68%
BG	F	1.68%
AMGN	D	1.68%
PHM	C	1.68%
MOH	F	1.64%
WSM	B	1.59%
MRK	F	1.58%
CNC	F	1.46%
ELV	F	1.43%

SMRI Underweight 75 Positions Relative to FWD

Symbol	Grade	Weight
NVDA	C	-5.29%
TSLA	B	-3.08%
GEV	C	-2.15%
ORCL	C	-1.81%
AMZN	C	-1.73%
VRT	B	-1.67%
ISRG	C	-1.62%
BSX	C	-1.56%
NFLX	B	-1.54%
ANET	C	-1.53%
TXN	D	-1.51%
META	D	-1.41%
SHOP	B	-1.39%
PLTR	B	-1.33%
GOOGL	C	-1.3%
AVGO	D	-1.29%
HWM	B	-1.21%
SPOT	B	-1.16%
FTNT	C	-1.15%
CRWD	B	-1.11%
ETN	A	-1.09%
APO	A	-1.09%
COHR	C	-1.06%
DASH	A	-1.06%
TTD	B	-1.05%
TT	B	-1.05%
MRVL	B	-1.02%
MU	D	-1.01%
DDOG	A	-0.99%
CAT	B	-0.98%
ON	C	-0.98%
IOT	B	-0.98%
TEAM	B	-0.95%
LSCC	D	-0.94%
LRCX	F	-0.94%
TER	F	-0.93%
ARM	D	-0.91%
MDB	C	-0.91%
AMAT	F	-0.87%
WAB	B	-0.86%
BKR	C	-0.85%
SYK	C	-0.81%
NEE	D	-0.79%
GWRE	B	-0.79%
LLY	F	-0.76%
CIEN	B	-0.74%
FROG	C	-0.74%
MNDY	C	-0.74%
ABBV	D	-0.73%
SNPS	B	-0.72%
RBLX	C	-0.72%
ADBE	C	-0.71%
AMD	F	-0.7%
MSFT	D	-0.7%
LITE	B	-0.66%
AFRM	B	-0.66%
SLAB	D	-0.65%
HUBS	B	-0.65%
ADI	D	-0.63%
MELI	C	-0.62%
TMO	F	-0.58%
ILMN	C	-0.56%
NOW	B	-0.55%
GTLB	C	-0.53%
RDDT	B	-0.53%
ABT	B	-0.52%
UBER	D	-0.52%
CRL	C	-0.5%
BSY	D	-0.48%
CFLT	B	-0.48%
IPGP	D	-0.44%
IQV	F	-0.43%
FCX	F	-0.42%
RGEN	D	-0.41%
Z	B	-0.4%