SMRI vs. USRD ETF Comparison

Comparison of Bushido Capital US Equity ETF (SMRI) to Themes US R&D Champions ETF (USRD)

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

$33.65

Average Daily Volume

5,650

Number of Holdings ^*

* may have additional holdings in another (foreign) market

USRD

Themes US R&D Champions ETF

USRD Description

The index is designed to provide exposure to U.S. companies in the large- and mid- capitalization segments that rank in the top 50 companies based on the index Provider"s R&D intensity metric. The fund will invest, under normal circumstances, at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities that comprise the index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$31.87

Average Daily Volume

142

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	SMRI	USRD
30 Days	10.89%	3.08%
60 Days	11.01%	2.86%
90 Days	12.04%	4.70%
12 Months	34.88%

5 Overlapping Holdings

Symbol	Grade	Weight in SMRI	Weight in USRD	Overlap
EXPE	B	2.28%	2.31%	2.28%
HPE	B	2.07%	2.16%	2.07%
NTAP	C	1.87%	2.03%	1.87%
QCOM	F	1.69%	1.97%	1.69%
ZM	B	2.09%	2.17%	2.09%

SMRI Overweight 45 Positions Relative to USRD

Symbol	Grade	Weight
APP	B	4.63%
VST	B	2.58%
DAL	B	2.5%
DOCU	A	2.49%
MCK	C	2.37%
SNA	A	2.32%
BKNG	B	2.23%
EME	B	2.21%
EPAM	C	2.17%
WSM	B	2.12%
JBL	C	2.08%
PCAR	B	2.05%
OC	B	2.05%
FFIV	A	2.02%
CVX	B	2.02%
CAH	B	2.01%
EG	C	2.01%
GEN	A	2.01%
COR	C	1.99%
PYPL	A	1.99%
NRG	C	1.98%
PAYX	B	1.97%
EOG	C	1.97%
VLO	C	1.94%
ABNB	C	1.91%
XOM	C	1.9%
UTHR	C	1.88%
SLB	C	1.87%
FANG	F	1.82%
NUE	D	1.82%
BWA	C	1.82%
MPC	F	1.79%
LKQ	D	1.72%
DVN	F	1.72%
NVR	D	1.71%
LEN	C	1.69%
CI	D	1.69%
BG	F	1.67%
PHM	C	1.65%
AMGN	D	1.62%
BLD	C	1.61%
MOH	F	1.57%
MRK	F	1.56%
CNC	F	1.46%
ELV	F	1.39%

SMRI Underweight 45 Positions Relative to USRD

Symbol	Grade	Weight
FTNT	C	-2.39%
TRMB	B	-2.33%
GM	B	-2.25%
INTU	C	-2.25%
CMI	A	-2.19%
ORCL	C	-2.19%
ALGN	D	-2.18%
NOW	B	-2.15%
EA	C	-2.12%
CDNS	B	-2.11%
ISRG	C	-2.11%
ADBE	C	-2.1%
ADSK	B	-2.1%
CSCO	A	-2.07%
ANSS	B	-2.06%
VEEV	B	-2.04%
SNPS	B	-2.04%
BSX	C	-2.03%
ROP	B	-2.02%
EW	C	-2.02%
GOOGL	C	-2.0%
KEYS	B	-2.0%
IBM	C	-1.98%
TTD	B	-1.97%
CSGP	C	-1.96%
MDT	D	-1.96%
META	D	-1.95%
NOC	D	-1.94%
HOLX	D	-1.94%
JNJ	D	-1.93%
ANET	C	-1.93%
DOX	D	-1.89%
AMAT	F	-1.89%
LRCX	F	-1.88%
GEHC	F	-1.87%
AMD	F	-1.87%
EL	F	-1.85%
MELI	C	-1.84%
CTVA	B	-1.81%
REGN	F	-1.79%
LLY	F	-1.77%
LDOS	D	-1.75%
AKAM	F	-1.73%
MPWR	F	-1.5%
ENPH	F	-1.43%