SURI vs. MDST ETF Comparison

Comparison of Simplify Exchange Traded Funds Simplify Propel Opportunities ETF (SURI) to Westwood Salient Enhanced Midstream Income ETF (MDST)

SURI

Simplify Exchange Traded Funds Simplify Propel Opportunities ETF

SURI Description

The fund is an actively managed exchange-traded fund. The Sub-Adviser concentrates the fund's investments (i.e., invests more than 25% of its net assets) in the securities of issuers in the biotechnology, pharmaceuticals, healthcare technology, and life science tools and services industries. The Sub-Adviser employs an actively managed opportunistic multi-asset strategy that focuses on common stock, preferred stock, convertible bonds, structured notes, corporate notes and bonds, and ETFs that primarily invest in the preceding security types. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$24.23

Average Daily Volume

3,478

Number of Holdings ^*

* may have additional holdings in another (foreign) market

MDST

Westwood Salient Enhanced Midstream Income ETF

MDST Description

MDST invests North American midstream investments while employing a covered call strategy. The actively managed fund targets investment grade, midstream securities from the US and Canada that include companies engaged in the energy infrastructure industry and ancillary businesses. The fund may directly invest up to 25% in US MLPs that are publicly traded and treated as partnerships for federal income tax purposes. The fund employs a bottom-up, research-driven selection process with emphasis on opportunities and growth prospects. In addition, the advisor maintains proprietary business valuation models and analyzes various fundamental and technical factors. To enhance income, the fund writes call options on securities held within the portfolio. It may also use standardized exchange-traded and FLEX options. The fund expects returns from the distribution yield, covered call premiums, cash distribution growth, and potential price appreciation. Single securities are capped at 15%.

Grade (RS Rating)

Last Trade

$25.47

Average Daily Volume

14,109

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	SURI	MDST
30 Days	9.10%	1.90%
60 Days	14.49%	2.79%
90 Days	14.99%	5.63%
12 Months	27.84%

1 Overlapping Holdings

	Symbol	Grade	Weight in SURI	Weight in MDST	Overlap
	PAGP	C	26.62%	6.77%	6.77%

SURI Overweight 8 Positions Relative to MDST

Symbol	Grade	Weight
APLT	C	13.56%
MDGL	B	6.73%
TCRX	D	6.31%
PHAT	C	5.54%
RNA	C	5.26%
AKRO	D	5.14%
ARDX	F	4.57%
ATHA	C	4.08%

SURI Underweight 7 Positions Relative to MDST

Symbol	Grade	Weight
ET	A	-9.7%
EPD	C	-8.33%
KMI	B	-7.51%
TRGP	B	-5.15%
LNG	A	-5.06%
DTM	A	-4.78%
HESM	C	-4.77%

SURI: Top Represented Industries & Keywords

Industries: Biotechnology Oil & Gas Midstream

MDST: Top Represented Industries & Keywords

Industries: Oil & Gas Midstream