SSPY vs. PFF ETF Comparison

Comparison of Syntax Stratified LargeCap ETF (SSPY) to iShares US Preferred Stock ETF (PFF)

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

PFF

iShares US Preferred Stock ETF

PFF Description

The investment seeks to track the investment results of an index composed of U.S. preferred stocks. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. It seeks to track the investment results of the S&P U.S. Preferred Stock IndexTM (the "underlying index"), which measures the performance of a select group of preferred stocks listed on the New York Stock Exchange (" NYSE"), NYSE Arca, Inc. ("NYSE Arca"), NYSE Amex, NASDAQ Global Select Market, NASDAQ Select Market or NASDAQ Capital Market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$32.70

Average Daily Volume

3,780,916

Number of Holdings ^*

227

* may have additional holdings in another (foreign) market

Performance

Period	SSPY	PFF
30 Days	4.23%	-0.29%
60 Days	1.79%	-1.26%
90 Days	3.72%	2.56%
12 Months	23.81%	15.76%

47 Overlapping Holdings

Symbol	Grade	Weight in SSPY	Weight in PFF	Overlap
ALB	C	0.05%	1.35%	0.05%
ALL	A	0.2%	0.16%	0.16%
BAC	A	0.12%	0.06%	0.06%
BAC	A	0.12%	0.28%	0.12%
C	A	0.13%	1.68%	0.13%
CFG	B	0.06%	0.24%	0.06%
CMS	C	0.08%	0.11%	0.08%
COF	B	0.7%	0.06%	0.06%
CTVA	C	0.08%	0.08%	0.08%
DLR	B	0.26%	0.11%	0.11%
DTE	C	0.25%	0.11%	0.11%
DUK	C	0.07%	0.62%	0.07%
EIX	B	0.25%	0.12%	0.12%
F	C	0.25%	0.37%	0.25%
FITB	A	0.06%	0.12%	0.06%
FRT	B	0.06%	0.08%	0.06%
GL	B	0.2%	0.14%	0.14%
GS	A	0.25%	0.12%	0.12%
HBAN	A	0.06%	0.1%	0.06%
HIG	B	0.14%	0.22%	0.14%
HPE	B	0.19%	1.13%	0.19%
JPM	A	0.13%	0.41%	0.13%
KEY	B	0.06%	0.25%	0.06%
KIM	A	0.06%	0.12%	0.06%
KKR	A	0.09%	0.24%	0.09%
KMI	A	0.25%	0.13%	0.13%
MET	A	0.21%	0.37%	0.21%
MS	A	0.26%	0.25%	0.25%
MTB	A	0.06%	0.16%	0.06%
NEE	D	0.24%	0.42%	0.24%
NEE	D	0.24%	1.08%	0.24%
NTRS	A	0.08%	0.22%	0.08%
PCG	A	0.08%	0.07%	0.07%
PRU	A	0.2%	0.19%	0.19%
PSA	D	0.11%	0.07%	0.07%
REG	B	0.06%	0.07%	0.06%
RF	A	0.06%	0.19%	0.06%
SCHW	B	0.25%	0.31%	0.25%
SO	D	0.08%	0.37%	0.08%
STT	A	0.12%	0.31%	0.12%
SYF	B	0.69%	0.33%	0.33%
T	A	0.33%	0.64%	0.33%
T	A	0.33%	0.88%	0.33%
TFC	A	0.06%	0.1%	0.06%
USB	A	0.06%	0.21%	0.06%
WFC	A	0.13%	0.31%	0.13%
WRB	A	0.14%	0.12%	0.12%

SSPY Overweight 456 Positions Relative to PFF

Symbol	Grade	Weight
XOM	B	0.77%
CVX	A	0.76%
SYY	B	0.75%
KR	B	0.74%
WMT	A	0.73%
ROST	C	0.72%
TJX	A	0.72%
COST	B	0.71%
CVS	D	0.69%
DFS	B	0.69%
WBA	F	0.64%
CMCSA	B	0.52%
DPZ	C	0.52%
PSX	C	0.51%
DRI	B	0.51%
YUM	B	0.51%
VLO	C	0.5%
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%
MPC	D	0.49%
TTWO	A	0.49%
L	A	0.49%
MSI	B	0.49%
SBUX	A	0.48%
CHTR	C	0.47%
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%
CLX	B	0.41%
APTV	D	0.4%
J	F	0.4%
PWR	A	0.4%
JBL	B	0.38%
CEG	D	0.38%
ADM	D	0.37%
BG	F	0.37%
TSN	B	0.36%
HRL	D	0.36%
SLB	C	0.35%
HPQ	B	0.35%
PM	B	0.35%
BKR	B	0.35%
CRM	B	0.35%
MO	A	0.35%
IPG	D	0.34%
IBM	C	0.34%
OMC	C	0.34%
HAL	C	0.34%
ORCL	B	0.34%
SNPS	B	0.34%
TMUS	B	0.33%
ATO	A	0.33%
GRMN	B	0.33%
TPR	B	0.33%
NI	A	0.33%
VZ	C	0.33%
NRG	B	0.33%
HCA	F	0.33%
NKE	D	0.33%
CDNS	B	0.33%
AES	F	0.32%
AWK	D	0.32%
UHS	D	0.32%
RL	B	0.32%
MSFT	F	0.32%
LULU	C	0.31%
FCX	D	0.3%
EXC	C	0.3%
DECK	A	0.3%
TSLA	B	0.28%
DAL	C	0.28%
UAL	A	0.28%
SWK	D	0.27%
GDDY	A	0.27%
EQIX	A	0.27%
AKAM	D	0.27%
VRSN	F	0.27%
STLD	B	0.27%
CNP	B	0.26%
HUBB	B	0.26%
ENPH	F	0.26%
NUE	C	0.26%
PEG	A	0.26%
LOW	D	0.26%
HAS	D	0.26%
CNC	D	0.26%
HD	A	0.26%
UNH	C	0.26%
NVR	D	0.26%
HUM	C	0.26%
ETN	A	0.26%
LEN	D	0.25%
GM	B	0.25%
WMB	A	0.25%
NEM	D	0.25%
KO	D	0.25%
GILD	C	0.25%
CTLT	B	0.25%
MOH	F	0.25%
STZ	D	0.25%
ZTS	D	0.25%
SNA	A	0.25%
PHM	D	0.25%
LUV	C	0.25%
MNST	C	0.25%
ETR	B	0.25%
TAP	C	0.25%
INCY	C	0.25%
RJF	A	0.25%
BMY	B	0.25%
MRNA	F	0.24%
AMGN	D	0.24%
JNJ	D	0.24%
DHI	D	0.24%
AEP	D	0.24%
MRK	F	0.24%
D	C	0.24%
TRGP	B	0.24%
OKE	A	0.24%
FE	C	0.24%
VTRS	A	0.24%
ED	D	0.24%
PFE	D	0.24%
KDP	D	0.24%
BIIB	F	0.24%
ELV	F	0.24%
ABBV	D	0.24%
AVGO	D	0.23%
PLTR	B	0.23%
CPRT	A	0.23%
ON	D	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%
EBAY	D	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%
KEYS	A	0.21%
ANET	C	0.21%
DIS	B	0.21%
PFG	D	0.21%
AOS	F	0.21%
CSCO	B	0.21%
MKC	D	0.21%
KHC	F	0.21%
QRVO	F	0.21%
SWKS	F	0.21%
SJM	D	0.21%
GIS	D	0.21%
CAG	D	0.21%
PAYX	C	0.21%
ADP	B	0.21%
AIG	B	0.2%
IEX	B	0.2%
IR	B	0.2%
JNPR	F	0.2%
AFL	B	0.2%
PARA	C	0.2%
CPB	D	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%
CI	F	0.19%
APH	A	0.19%
XYL	D	0.19%
CAH	B	0.19%
TEL	B	0.19%
PGR	A	0.19%
MAS	D	0.19%
WBD	C	0.19%
PNR	A	0.19%
BLDR	D	0.19%
GLW	B	0.19%
BBWI	D	0.19%
PEP	F	0.18%
HSY	F	0.18%
RSG	A	0.18%
CTAS	B	0.18%
AMAT	F	0.18%
CRWD	B	0.18%
GEV	B	0.18%
EQT	B	0.18%
WM	A	0.18%
MDLZ	F	0.18%
ROL	B	0.18%
MCK	B	0.18%
COR	B	0.18%
K	A	0.18%
HON	B	0.17%
TGT	F	0.17%
ADSK	A	0.17%
TER	D	0.17%
MMM	D	0.17%
ANSS	B	0.17%
DG	F	0.17%
FTNT	C	0.17%
DOV	A	0.17%
NTAP	C	0.17%
GEN	B	0.17%
ITW	B	0.17%
BBY	D	0.17%
WY	D	0.17%
CTRA	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%
STX	D	0.17%
ULTA	F	0.17%
WDC	D	0.17%
INTC	D	0.16%
PANW	C	0.16%
ADBE	C	0.16%
DVN	F	0.16%
GD	F	0.16%
BA	F	0.16%
LH	C	0.16%
TXT	D	0.16%
DGX	A	0.16%
TECH	D	0.15%
SMCI	F	0.15%
A	D	0.15%
GPC	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%
TRV	B	0.14%
CINF	A	0.14%
ORLY	B	0.14%
CRL	C	0.14%
CB	C	0.14%
ACGL	D	0.14%
AMD	F	0.14%
KMX	B	0.14%
EG	C	0.14%
LKQ	D	0.14%
BALL	D	0.13%
FAST	B	0.13%
PCAR	B	0.13%
CDW	F	0.13%
AMCR	D	0.13%
AME	A	0.13%
POOL	C	0.13%
DE	A	0.13%
ACN	C	0.13%
EPAM	C	0.13%
CTSH	B	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%
ZBH	C	0.12%
GWW	B	0.12%
TSCO	D	0.12%
ARE	D	0.11%
VTR	C	0.11%
WELL	A	0.11%
EXR	D	0.11%
DVA	B	0.11%
CPT	B	0.11%
BR	A	0.11%
DOC	D	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%
HOLX	D	0.1%
DHR	F	0.1%
NWSA	B	0.1%
IDXX	F	0.1%
NWS	B	0.1%
ESS	B	0.1%
RVTY	F	0.1%
ALGN	D	0.1%
MAA	B	0.1%
INVH	D	0.1%
GEHC	F	0.1%
AVB	B	0.1%
EQR	B	0.1%
FOX	A	0.1%
UDR	B	0.1%
FOXA	B	0.1%
TROW	B	0.09%
FMC	D	0.09%
LMT	D	0.09%
BEN	C	0.09%
NOC	D	0.09%
UPS	C	0.09%
EXPD	D	0.09%
AXON	A	0.09%
RCL	A	0.09%
CCL	B	0.09%
CHRW	C	0.09%
CF	B	0.09%
NCLH	B	0.09%
LYV	A	0.09%
IVZ	B	0.09%
RMD	C	0.09%
ALLE	D	0.08%
SRE	A	0.08%
XEL	A	0.08%
HWM	A	0.08%
PPL	B	0.08%
EVRG	A	0.08%
LNT	A	0.08%
AEE	A	0.08%
CARR	D	0.08%
TDG	D	0.08%
JCI	C	0.08%
PH	A	0.08%
UNP	C	0.08%
CMI	A	0.08%
NSC	B	0.08%
OTIS	C	0.08%
GNRC	B	0.08%
WYNN	D	0.08%
ODFL	B	0.08%
RTX	C	0.08%
HII	D	0.08%
BX	A	0.08%
BLK	C	0.08%
LHX	C	0.08%
LVS	C	0.08%
AMP	A	0.08%
MOS	F	0.08%
JBHT	C	0.08%
CSX	B	0.08%
O	D	0.07%
SPG	B	0.07%
LYB	F	0.07%
SW	A	0.07%
PPG	F	0.07%
FANG	D	0.07%
OXY	D	0.07%
CZR	F	0.07%
COP	C	0.07%
MRO	B	0.07%
MGM	D	0.07%
EOG	A	0.07%
DOW	F	0.07%
APA	D	0.07%
HES	B	0.07%
PNW	B	0.07%
FDX	B	0.07%
WEC	A	0.07%
CE	F	0.07%
ES	D	0.07%
TT	A	0.07%
FI	A	0.06%
PNC	B	0.06%
EW	C	0.06%
ABT	B	0.06%
MDT	D	0.06%
AVY	D	0.06%
PYPL	B	0.06%
BSX	B	0.06%
IP	B	0.06%
PKG	A	0.06%
PLD	D	0.06%
AMT	D	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%
APD	A	0.05%
BDX	F	0.05%
TFX	F	0.05%
WST	C	0.05%
EMN	D	0.05%
DD	D	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%
NDSN	B	0.03%
TDY	B	0.03%
EMR	A	0.03%
TRMB	B	0.03%
FTV	C	0.03%
AJG	B	0.03%
WTW	B	0.03%

SSPY Underweight 180 Positions Relative to PFF

Symbol	Grade	Weight
ARES	A	-1.0%
TBB	C	-0.79%
SOJD	F	-0.55%
TBC	C	-0.51%
SREA	D	-0.46%
RZC	C	-0.46%
APO	B	-0.4%
CMSD	C	-0.38%
JXN	C	-0.37%
CHSCO	C	-0.36%
LNC	B	-0.35%
PRS	B	-0.35%
WCC	B	-0.35%
BTSG	C	-0.35%
CHSCL	C	-0.33%
BANC	A	-0.32%
GTLS	B	-0.32%
QRTEP	F	-0.32%
CTDD	C	-0.31%
DUKB	C	-0.31%
CHSCM	D	-0.31%
AXS	A	-0.31%
UZE	B	-0.29%
USM	B	-0.29%
FITBI	C	-0.29%
BPYPM	C	-0.28%
NLY	C	-0.27%
CHSCN	D	-0.27%
SOJC	D	-0.27%
TPG	A	-0.26%
PFH	F	-0.25%
RZB	C	-0.25%
CG	A	-0.24%
TDS	B	-0.23%
PBI	B	-0.23%
DTW	D	-0.23%
FG	B	-0.23%
CHSCP	F	-0.22%
EAI	C	-0.22%
AGNCN	B	-0.21%
FCNCA	A	-0.2%
RLJ	C	-0.2%
ESGRP	D	-0.2%
UNMA	C	-0.19%
ATHS	C	-0.19%
ACGLO	C	-0.19%
VOYA	B	-0.19%
UMH	C	-0.18%
MGR	D	-0.18%
WTFCP	A	-0.18%
NGL	D	-0.18%
KREF	D	-0.17%
CMSC	C	-0.17%
TCBI	B	-0.16%
WAL	B	-0.16%
TVC	C	-0.15%
ELC	C	-0.15%
BHF	B	-0.15%
NRUC	D	-0.15%
NAVI	C	-0.15%
RNR	C	-0.15%
SR	A	-0.15%
GPJA	F	-0.15%
OZKAP	D	-0.15%
WAFD	B	-0.14%
FBRT	C	-0.14%
AIZN	D	-0.14%
EQH	B	-0.14%
HPP	F	-0.14%
EMP	D	-0.14%
PNFP	B	-0.14%
AGNC	D	-0.14%
DBRG	F	-0.13%
SNV	B	-0.13%
DDT	B	-0.13%
NSA	D	-0.13%
TVE	C	-0.12%
SLMBP	C	-0.12%
VNO	B	-0.12%
SLG	B	-0.12%
CMSA	C	-0.12%
FCNCO	D	-0.12%
SFB	D	-0.12%
SITC	D	-0.11%
LBRDP	C	-0.11%
AUB	B	-0.11%
HWC	B	-0.11%
AFGC	C	-0.11%
NYMTM	B	-0.11%
SIGI	C	-0.1%
WSBC	A	-0.1%
TRTX	B	-0.1%
SPLP	D	-0.1%
FULT	A	-0.1%
AFGE	D	-0.1%
RITM	C	-0.1%
VLY	B	-0.1%
DHC	F	-0.1%
SF	B	-0.1%
CIM	D	-0.09%
AMG	B	-0.09%
KMPR	B	-0.09%
GPMT	C	-0.09%
CADE	B	-0.09%
ZIONO	D	-0.09%
ARR	D	-0.09%
AGNCL	B	-0.09%
AFGD	C	-0.09%
CION	C	-0.09%
AHH	D	-0.09%
BNRE.A	C	-0.09%
BOH	B	-0.08%
CFR	B	-0.08%
QVCD	D	-0.08%
ATLC	B	-0.08%
TWO	D	-0.08%
GAIN	C	-0.08%
AFGB	C	-0.08%
LANDO	B	-0.08%
BC	C	-0.08%
NYMTL	A	-0.08%
ARGD	C	-0.08%
CNO	A	-0.08%
WTFCM	B	-0.08%
MBIN	D	-0.08%
WBS	A	-0.08%
NYMTN	D	-0.08%
ADC	B	-0.08%
RILY	F	-0.07%
ACR	A	-0.07%
ENO	D	-0.07%
AMH	D	-0.07%
BPOPM	C	-0.07%
CLDT	B	-0.07%
IVR	F	-0.07%
FCRX	A	-0.07%
ABR	C	-0.07%
CTO	B	-0.07%
MHNC	D	-0.07%
FTAI	B	-0.07%
ONB	B	-0.07%
PMT	D	-0.07%
VLYPP	A	-0.07%
NEWT	B	-0.07%
MFA	D	-0.07%
HTLF	B	-0.07%
NMFC	D	-0.07%
MSBI	B	-0.07%
DRH	B	-0.07%
EQC	B	-0.07%
TRIN	A	-0.07%
FHN	A	-0.07%
SNCR	F	-0.07%
DX	B	-0.07%
RILYN	C	-0.06%
BFS	C	-0.06%
PEB	D	-0.06%
LXP	D	-0.06%
CNOB	B	-0.06%
PSEC	D	-0.06%
CODI	B	-0.06%
VLYPO	B	-0.06%
EFC	C	-0.06%
EPR	D	-0.06%
GNL	F	-0.06%
BW	D	-0.06%
SAR	A	-0.06%
DCOMP	C	-0.06%
FATBP	D	-0.05%
MHLA	C	-0.05%
CIO	D	-0.05%
INN	D	-0.05%
SHO	C	-0.05%
FOSL	C	-0.05%
ASB	B	-0.05%
RC	D	-0.05%
SLNHP	C	-0.04%
OPI	F	-0.04%
BHR	B	-0.03%
XELAP	F	-0.0%