SSPY vs. FTA ETF Comparison

Comparison of Syntax Stratified LargeCap ETF (SSPY) to First Trust Large Cap Value AlphaDEX Fund (based onthe Defined Large Cap Value Index (FTA)

SSPY

Syntax Stratified LargeCap ETF

SSPY Description

The investment seeks to provide investment results that, before expenses, correspond generally to the total return performance of publicly traded equity securities of companies in the Syntax Stratified LargeCap Index (the "index"). Under normal market conditions, the fund generally invests substantially all, and at least 95% of its total assets in the securities comprising the index. The index, which was created by Syntax, LLC, an affiliate of the fund's investment adviser, is the stratified-weight version of the widely used S&P 500® Index and holds the same constituents as the S&P 500.

Grade (RS Rating)

Last Trade

$82.04

Average Daily Volume

2,303

Number of Holdings ^*

500

* may have additional holdings in another (foreign) market

FTA

First Trust Large Cap Value AlphaDEX Fund (based onthe Defined Large Cap Value Index

FTA Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Defined Large Cap Value Index. The fund will normally invest at least 90% of its net assets in common stocks that comprise the index. The index is a modified equal-dollar weighted index designed by S&P to objectively identify and select stocks from the S&P 500(R) Value Index that may generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX(R) selection methodology. It is non-diversified.

Grade (RS Rating)

Last Trade

$82.72

Average Daily Volume

39,082

Number of Holdings ^*

186

* may have additional holdings in another (foreign) market

Performance

Period	SSPY	FTA
30 Days	4.23%	4.88%
60 Days	1.79%	5.23%
90 Days	3.72%	6.80%
12 Months	23.81%	26.69%

175 Overlapping Holdings

Symbol	Grade	Weight in SSPY	Weight in FTA	Overlap
ACN	C	0.13%	0.18%	0.13%
ADM	D	0.37%	0.77%	0.37%
AEE	A	0.08%	0.72%	0.08%
AEP	D	0.24%	0.47%	0.24%
AFL	B	0.2%	0.5%	0.2%
AIG	B	0.2%	0.91%	0.2%
AKAM	D	0.27%	0.45%	0.27%
APD	A	0.05%	0.18%	0.05%
APTV	D	0.4%	0.66%	0.4%
ARE	D	0.11%	0.32%	0.11%
ATO	A	0.33%	0.73%	0.33%
AWK	D	0.32%	0.15%	0.15%
BAC	A	0.12%	0.59%	0.12%
BBY	D	0.17%	0.45%	0.17%
BG	F	0.37%	0.8%	0.37%
BIIB	F	0.24%	0.44%	0.24%
BKR	B	0.35%	0.61%	0.35%
BLDR	D	0.19%	0.48%	0.19%
C	A	0.13%	0.76%	0.13%
CAG	D	0.21%	0.14%	0.14%
CARR	D	0.08%	0.33%	0.08%
CB	C	0.14%	0.7%	0.14%
CE	F	0.07%	0.48%	0.07%
CF	B	0.09%	0.7%	0.09%
CFG	B	0.06%	0.8%	0.06%
CHTR	C	0.47%	0.62%	0.47%
CI	F	0.19%	0.16%	0.16%
CINF	A	0.14%	0.96%	0.14%
CLX	B	0.41%	0.17%	0.17%
CMCSA	B	0.52%	0.91%	0.52%
CMI	A	0.08%	0.19%	0.08%
CMS	C	0.08%	0.34%	0.08%
CNC	D	0.26%	0.55%	0.26%
CNP	B	0.26%	0.72%	0.26%
COF	B	0.7%	0.86%	0.7%
COP	C	0.07%	0.94%	0.07%
CPB	D	0.2%	0.16%	0.16%
CSCO	B	0.21%	0.38%	0.21%
CSX	B	0.08%	0.36%	0.08%
CTRA	B	0.17%	0.93%	0.17%
CTSH	B	0.13%	0.73%	0.13%
CTVA	C	0.08%	0.17%	0.08%
CVS	D	0.69%	0.77%	0.69%
CVX	A	0.76%	0.96%	0.76%
D	C	0.24%	0.5%	0.24%
DAL	C	0.28%	1.12%	0.28%
DD	D	0.05%	0.16%	0.05%
DE	A	0.13%	0.48%	0.13%
DG	F	0.17%	0.64%	0.17%
DGX	A	0.16%	0.52%	0.16%
DHI	D	0.24%	0.6%	0.24%
DIS	B	0.21%	0.4%	0.21%
DOC	D	0.11%	0.33%	0.11%
DOW	F	0.07%	0.42%	0.07%
DRI	B	0.51%	0.36%	0.36%
DTE	C	0.25%	0.48%	0.25%
DUK	C	0.07%	0.49%	0.07%
DVN	F	0.16%	0.88%	0.16%
EBAY	D	0.22%	0.49%	0.22%
ED	D	0.24%	0.64%	0.24%
EG	C	0.14%	0.82%	0.14%
EIX	B	0.25%	0.33%	0.25%
ELV	F	0.24%	0.27%	0.24%
EOG	A	0.07%	0.97%	0.07%
EQR	B	0.1%	0.5%	0.1%
EQT	B	0.18%	0.82%	0.18%
ETR	B	0.25%	0.78%	0.25%
EXC	C	0.3%	0.66%	0.3%
EXPD	D	0.09%	0.16%	0.09%
F	C	0.25%	0.92%	0.25%
FANG	D	0.07%	0.74%	0.07%
FDX	B	0.07%	0.75%	0.07%
FE	C	0.24%	0.32%	0.24%
FITB	A	0.06%	0.57%	0.06%
FOXA	B	0.1%	0.98%	0.1%
FTV	C	0.03%	0.16%	0.03%
GD	F	0.16%	0.17%	0.16%
GIS	D	0.21%	0.31%	0.21%
GM	B	0.25%	1.13%	0.25%
GPC	D	0.15%	0.31%	0.15%
HAL	C	0.34%	0.91%	0.34%
HBAN	A	0.06%	0.84%	0.06%
HD	A	0.26%	0.17%	0.17%
HIG	B	0.14%	0.69%	0.14%
HOLX	D	0.1%	0.16%	0.1%
HPE	B	0.19%	0.92%	0.19%
HPQ	B	0.35%	0.36%	0.35%
HRL	D	0.36%	0.49%	0.36%
HSY	F	0.18%	0.33%	0.18%
HUM	C	0.26%	0.31%	0.26%
IEX	B	0.2%	0.18%	0.18%
INTC	D	0.16%	0.75%	0.16%
IP	B	0.06%	0.6%	0.06%
J	F	0.4%	0.18%	0.18%
JBHT	C	0.08%	0.38%	0.08%
JNJ	D	0.24%	0.33%	0.24%
KDP	D	0.24%	0.31%	0.24%
KEY	B	0.06%	0.4%	0.06%
KEYS	A	0.21%	0.17%	0.17%
KHC	F	0.21%	0.46%	0.21%
KIM	A	0.06%	0.37%	0.06%
KMI	A	0.25%	0.85%	0.25%
KR	B	0.74%	0.72%	0.72%
L	A	0.49%	0.74%	0.49%
LEN	D	0.25%	0.79%	0.25%
LH	C	0.16%	0.18%	0.16%
LHX	C	0.08%	0.18%	0.08%
LMT	D	0.09%	0.16%	0.09%
LNT	A	0.08%	0.5%	0.08%
LOW	D	0.26%	0.17%	0.17%
LUV	C	0.25%	0.56%	0.25%
LYB	F	0.07%	0.76%	0.07%
MAA	B	0.1%	0.17%	0.1%
MAS	D	0.19%	0.16%	0.16%
MDLZ	F	0.18%	0.15%	0.15%
MDT	D	0.06%	0.16%	0.06%
MOH	F	0.25%	0.31%	0.25%
MPC	D	0.49%	0.85%	0.49%
MS	A	0.26%	0.65%	0.26%
MTB	A	0.06%	0.61%	0.06%
NDSN	B	0.03%	0.17%	0.03%
NI	A	0.33%	0.53%	0.33%
NKE	D	0.33%	0.15%	0.15%
NUE	C	0.26%	0.85%	0.26%
NVR	D	0.26%	0.33%	0.26%
NWSA	B	0.1%	0.38%	0.1%
ODFL	B	0.08%	0.19%	0.08%
OKE	A	0.24%	0.42%	0.24%
OMC	C	0.34%	0.17%	0.17%
ON	D	0.23%	0.65%	0.23%
OXY	D	0.07%	0.86%	0.07%
PCAR	B	0.13%	1.02%	0.13%
PEP	F	0.18%	0.17%	0.17%
PFG	D	0.21%	0.17%	0.17%
PHM	D	0.25%	0.79%	0.25%
PKG	A	0.06%	0.38%	0.06%
PNC	B	0.06%	0.39%	0.06%
PPG	F	0.07%	0.33%	0.07%
PPL	B	0.08%	0.51%	0.08%
PRU	A	0.2%	0.36%	0.2%
PSX	C	0.51%	0.87%	0.51%
PYPL	B	0.06%	0.19%	0.06%
RF	A	0.06%	0.58%	0.06%
RJF	A	0.25%	0.46%	0.25%
SBUX	A	0.48%	0.17%	0.17%
SLB	C	0.35%	0.73%	0.35%
SNA	A	0.25%	0.63%	0.25%
SRE	A	0.08%	0.76%	0.08%
STLD	B	0.27%	0.96%	0.27%
STT	A	0.12%	0.55%	0.12%
STX	D	0.17%	0.46%	0.17%
SWKS	F	0.21%	0.6%	0.21%
SYF	B	0.69%	1.14%	0.69%
SYY	B	0.75%	0.49%	0.49%
T	A	0.33%	0.89%	0.33%
TDY	B	0.03%	0.56%	0.03%
TGT	F	0.17%	0.5%	0.17%
TROW	B	0.09%	0.97%	0.09%
TRV	B	0.14%	0.56%	0.14%
TSN	B	0.36%	0.38%	0.36%
TXT	D	0.16%	0.5%	0.16%
UAL	A	0.28%	1.4%	0.28%
ULTA	F	0.17%	0.5%	0.17%
UPS	C	0.09%	0.17%	0.09%
USB	A	0.06%	0.56%	0.06%
VLO	C	0.5%	0.91%	0.5%
VTRS	A	0.24%	0.76%	0.24%
VZ	C	0.33%	0.64%	0.33%
WEC	A	0.07%	0.35%	0.07%
WFC	A	0.13%	0.9%	0.13%
WRB	A	0.14%	0.18%	0.14%
WY	D	0.17%	0.16%	0.16%
XEL	A	0.08%	0.74%	0.08%
XOM	B	0.77%	0.9%	0.77%
ZBH	C	0.12%	0.71%	0.12%

SSPY Overweight 325 Positions Relative to FTA

Symbol	Grade	Weight
WMT	A	0.73%
ROST	C	0.72%
TJX	A	0.72%
COST	B	0.71%
DFS	B	0.69%
WBA	F	0.64%
DPZ	C	0.52%
YUM	B	0.51%
EL	F	0.5%
CMG	B	0.5%
AAPL	C	0.5%
MCD	D	0.5%
BRK.A	B	0.5%
EA	A	0.49%
TTWO	A	0.49%
MSI	B	0.49%
MTCH	D	0.47%
META	D	0.47%
KMB	D	0.42%
KVUE	A	0.42%
PG	A	0.42%
BWA	D	0.42%
CHD	B	0.42%
VST	B	0.41%
CL	D	0.41%
PWR	A	0.4%
JBL	B	0.38%
CEG	D	0.38%
PM	B	0.35%
CRM	B	0.35%
MO	A	0.35%
IPG	D	0.34%
IBM	C	0.34%
ORCL	B	0.34%
SNPS	B	0.34%
TMUS	B	0.33%
GRMN	B	0.33%
TPR	B	0.33%
NRG	B	0.33%
HCA	F	0.33%
CDNS	B	0.33%
AES	F	0.32%
UHS	D	0.32%
RL	B	0.32%
MSFT	F	0.32%
LULU	C	0.31%
FCX	D	0.3%
DECK	A	0.3%
TSLA	B	0.28%
SWK	D	0.27%
GDDY	A	0.27%
EQIX	A	0.27%
VRSN	F	0.27%
HUBB	B	0.26%
ENPH	F	0.26%
PEG	A	0.26%
HAS	D	0.26%
UNH	C	0.26%
DLR	B	0.26%
ETN	A	0.26%
WMB	A	0.25%
NEM	D	0.25%
KO	D	0.25%
GILD	C	0.25%
CTLT	B	0.25%
STZ	D	0.25%
ZTS	D	0.25%
MNST	C	0.25%
TAP	C	0.25%
INCY	C	0.25%
BMY	B	0.25%
GS	A	0.25%
SCHW	B	0.25%
MRNA	F	0.24%
AMGN	D	0.24%
MRK	F	0.24%
TRGP	B	0.24%
PFE	D	0.24%
NEE	D	0.24%
ABBV	D	0.24%
AVGO	D	0.23%
PLTR	B	0.23%
CPRT	A	0.23%
GOOGL	C	0.23%
GOOG	C	0.23%
TXN	C	0.23%
LLY	F	0.23%
VRTX	F	0.23%
NXPI	D	0.23%
PAYC	B	0.22%
REGN	F	0.22%
TYL	B	0.22%
NFLX	A	0.22%
LW	C	0.22%
AMZN	C	0.22%
DAY	B	0.22%
QCOM	F	0.22%
NOW	A	0.22%
ADI	D	0.22%
MPWR	F	0.22%
FFIV	B	0.21%
ANET	C	0.21%
AOS	F	0.21%
MKC	D	0.21%
QRVO	F	0.21%
SJM	D	0.21%
MET	A	0.21%
PAYX	C	0.21%
ADP	B	0.21%
ALL	A	0.2%
GL	B	0.2%
IR	B	0.2%
JNPR	F	0.2%
PARA	C	0.2%
INTU	C	0.2%
AIZ	A	0.2%
ERIE	D	0.2%
HSIC	B	0.2%
FSLR	F	0.2%
MHK	D	0.19%
APH	A	0.19%
XYL	D	0.19%
CAH	B	0.19%
TEL	B	0.19%
PGR	A	0.19%
WBD	C	0.19%
PNR	A	0.19%
GLW	B	0.19%
BBWI	D	0.19%
RSG	A	0.18%
CTAS	B	0.18%
AMAT	F	0.18%
CRWD	B	0.18%
GEV	B	0.18%
WM	A	0.18%
ROL	B	0.18%
MCK	B	0.18%
COR	B	0.18%
K	A	0.18%
HON	B	0.17%
ADSK	A	0.17%
TER	D	0.17%
MMM	D	0.17%
ANSS	B	0.17%
FTNT	C	0.17%
DOV	A	0.17%
NTAP	C	0.17%
GEN	B	0.17%
ITW	B	0.17%
GE	D	0.17%
MLM	B	0.17%
DLTR	F	0.17%
DELL	C	0.17%
PTC	A	0.17%
VMC	B	0.17%
KLAC	D	0.17%
WDC	D	0.17%
PANW	C	0.16%
ADBE	C	0.16%
BA	F	0.16%
TECH	D	0.15%
SMCI	F	0.15%
A	D	0.15%
WAT	B	0.15%
MTD	D	0.15%
MU	D	0.15%
MCHP	D	0.14%
AZO	C	0.14%
CAT	B	0.14%
IQV	D	0.14%
TMO	F	0.14%
URI	B	0.14%
ORLY	B	0.14%
CRL	C	0.14%
ACGL	D	0.14%
AMD	F	0.14%
KMX	B	0.14%
LKQ	D	0.14%
BALL	D	0.13%
FAST	B	0.13%
JPM	A	0.13%
CDW	F	0.13%
AMCR	D	0.13%
AME	A	0.13%
POOL	C	0.13%
EPAM	C	0.13%
ZBRA	B	0.13%
WAB	B	0.13%
IT	C	0.13%
NVDA	C	0.13%
LDOS	C	0.13%
HLT	A	0.12%
MAR	B	0.12%
ABNB	C	0.12%
SYK	C	0.12%
STE	F	0.12%
EXPE	B	0.12%
ISRG	A	0.12%
GWW	B	0.12%
TSCO	D	0.12%
VTR	C	0.11%
WELL	A	0.11%
EXR	D	0.11%
DVA	B	0.11%
PSA	D	0.11%
CPT	B	0.11%
BR	A	0.11%
BXP	D	0.11%
BKNG	A	0.11%
HST	C	0.11%
UBER	D	0.11%
BK	A	0.11%
DXCM	D	0.1%
PODD	C	0.1%
DHR	F	0.1%
IDXX	F	0.1%
NWS	B	0.1%
ESS	B	0.1%
RVTY	F	0.1%
ALGN	D	0.1%
INVH	D	0.1%
GEHC	F	0.1%
AVB	B	0.1%
FOX	A	0.1%
UDR	B	0.1%
FMC	D	0.09%
BEN	C	0.09%
NOC	D	0.09%
AXON	A	0.09%
RCL	A	0.09%
CCL	B	0.09%
CHRW	C	0.09%
KKR	A	0.09%
NCLH	B	0.09%
LYV	A	0.09%
IVZ	B	0.09%
RMD	C	0.09%
ALLE	D	0.08%
PCG	A	0.08%
SO	D	0.08%
HWM	A	0.08%
EVRG	A	0.08%
TDG	D	0.08%
JCI	C	0.08%
PH	A	0.08%
UNP	C	0.08%
NSC	B	0.08%
OTIS	C	0.08%
GNRC	B	0.08%
WYNN	D	0.08%
RTX	C	0.08%
HII	D	0.08%
BX	A	0.08%
NTRS	A	0.08%
BLK	C	0.08%
LVS	C	0.08%
AMP	A	0.08%
MOS	F	0.08%
O	D	0.07%
SPG	B	0.07%
SW	A	0.07%
CZR	F	0.07%
MRO	B	0.07%
MGM	D	0.07%
APA	D	0.07%
HES	B	0.07%
PNW	B	0.07%
ES	D	0.07%
TT	A	0.07%
TFC	A	0.06%
FI	A	0.06%
EW	C	0.06%
ABT	B	0.06%
AVY	D	0.06%
BSX	B	0.06%
REG	B	0.06%
PLD	D	0.06%
AMT	D	0.06%
FRT	B	0.06%
SHW	A	0.06%
SBAC	D	0.06%
VICI	C	0.06%
CCI	D	0.06%
IRM	D	0.06%
FICO	B	0.05%
IFF	D	0.05%
ECL	D	0.05%
SOLV	C	0.05%
BAX	D	0.05%
BDX	F	0.05%
TFX	F	0.05%
WST	C	0.05%
EMN	D	0.05%
ALB	C	0.05%
JKHY	D	0.05%
FIS	C	0.05%
AON	A	0.04%
MMC	B	0.04%
BRO	B	0.04%
EFX	F	0.04%
CBRE	B	0.04%
CSGP	D	0.04%
VRSK	A	0.04%
SPGI	C	0.04%
GPN	B	0.04%
FDS	B	0.04%
MCO	B	0.04%
MA	C	0.04%
CBOE	B	0.04%
MSCI	C	0.04%
ICE	C	0.04%
V	A	0.04%
NDAQ	A	0.04%
CPAY	A	0.04%
AXP	A	0.04%
MKTX	D	0.04%
CME	A	0.04%
LIN	D	0.04%
ROP	B	0.03%
VLTO	D	0.03%
ROK	B	0.03%
EMR	A	0.03%
TRMB	B	0.03%
AJG	B	0.03%
WTW	B	0.03%

SSPY Underweight 11 Positions Relative to FTA

Symbol	Grade	Weight
RS	B	-0.94%
TOL	B	-0.87%
LNG	B	-0.82%
OC	A	-0.78%
CRBG	B	-0.74%
ALLY	C	-0.71%
ZM	B	-0.42%
RGA	A	-0.37%
SSNC	B	-0.35%
FNF	B	-0.34%
WLK	D	-0.3%