USMV vs. SCLZ ETF Comparison

Comparison of iShares MSCI USA Minimum Volatility ETF (USMV) to Swan Enhanced Dividend Income ETF (SCLZ)

USMV

iShares MSCI USA Minimum Volatility ETF

USMV Description

The investment seeks the investment results of an index composed of U.S. equities that, in the aggregate, have lower volatility characteristics relative to the broader U.S. equity market. The fund generally invests at least 90% of its assets in securities of the underlying index or in depositary receipts representing securities in the underlying index. The underlying index follows a rules-based methodology to determine weights for securities in the index that seeks to minimize total risk of the MSCI USA Index. Components primarily include consumer staples, healthcare and information technology companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$93.46

Average Daily Volume

1,630,912

Number of Holdings ^*

170

* may have additional holdings in another (foreign) market

SCLZ

Swan Enhanced Dividend Income ETF

SCLZ Description

SCLZ aims to maximize income through a portfolio of US dividend-paying companies combined with a covered call writing strategy. This strategy provides a potential buffer against market volatility, although the reduction is limited to the amount of option premium received. Based on the large- and mid-cap stocks of the OShares Focused Quality Dividend Index, the fund selects 50 names based on a composite score for quality and growth characteristics. The composite score considers quality factors, dividend growth, dividend coverage, and dividend yield. Note some stocks with superior dividend payouts and higher capital appreciation potential may be excluded if option premium potential is too low. Quarterly, constituents are re-ranked based on historic dividend yield and potential capital appreciation, with holdings sold when they are no longer listed. Risk management involves establishing pre-defined exit points for each option to reduce downside exposure while maximizing income.

Grade (RS Rating)

Last Trade

$54.45

Average Daily Volume

1,700

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	USMV	SCLZ
30 Days	1.70%	0.58%
60 Days	2.42%	1.63%
90 Days	4.02%	2.59%
12 Months	25.63%

33 Overlapping Holdings

Symbol	Grade	Weight in USMV	Weight in SCLZ	Overlap
AAPL	C	0.99%	4.96%	0.99%
ABT	B	0.09%	1.75%	0.09%
ACN	C	1.29%	1.71%	1.29%
ADP	B	0.09%	1.53%	0.09%
AON	A	0.53%	1.42%	0.53%
APH	A	1.44%	1.47%	1.44%
AVGO	D	1.19%	3.47%	1.19%
CBOE	B	0.85%	1.16%	0.85%
CSCO	B	1.47%	1.93%	1.47%
CTSH	B	0.76%	1.23%	0.76%
GD	F	0.05%	1.32%	0.05%
HD	A	0.3%	2.48%	0.3%
HON	B	0.25%	1.65%	0.25%
HSY	F	0.3%	1.09%	0.3%
JNJ	D	1.18%	2.25%	1.18%
KO	D	0.1%	1.89%	0.1%
LLY	F	1.25%	2.99%	1.25%
LMT	D	0.82%	1.44%	0.82%
MA	C	0.7%	2.49%	0.7%
MCD	D	1.25%	1.75%	1.25%
MDLZ	F	0.44%	1.28%	0.44%
MMC	B	1.11%	1.43%	1.11%
MRK	F	1.01%	1.83%	1.01%
MSFT	F	1.34%	4.84%	1.34%
ORCL	B	1.31%	2.18%	1.31%
OTIS	C	0.07%	1.27%	0.07%
PEP	F	1.01%	1.68%	1.01%
PG	A	1.23%	2.43%	1.23%
TJX	A	0.45%	1.59%	0.45%
TXN	C	1.39%	1.76%	1.39%
UNH	C	1.34%	2.86%	1.34%
V	A	0.9%	2.85%	0.9%
YUM	B	0.5%	1.2%	0.5%

USMV Overweight 137 Positions Relative to SCLZ

Symbol	Grade	Weight
TMUS	B	1.95%
MSI	B	1.81%
WMT	A	1.78%
PGR	A	1.67%
IBM	C	1.66%
WCN	A	1.56%
RSG	A	1.55%
BRK.A	B	1.55%
DUK	C	1.49%
CB	C	1.47%
WM	A	1.44%
NOC	D	1.43%
VZ	C	1.35%
SO	D	1.35%
MCK	B	1.35%
ROP	B	1.3%
AJG	B	1.27%
TRV	B	1.15%
ED	D	1.13%
ABBV	D	1.04%
GDDY	A	1.0%
AZO	C	0.98%
GILD	C	0.94%
EA	A	0.89%
FCNCA	A	0.88%
K	A	0.8%
WEC	A	0.78%
NOW	A	0.75%
T	A	0.74%
TSN	B	0.71%
VRTX	F	0.69%
FI	A	0.69%
ORLY	B	0.68%
ACGL	D	0.68%
COR	B	0.67%
NVDA	C	0.67%
GIS	D	0.66%
VRSN	F	0.64%
KR	B	0.61%
AMGN	D	0.59%
FICO	B	0.59%
REGN	F	0.59%
KDP	D	0.59%
TDY	B	0.57%
BDX	F	0.56%
KEYS	A	0.55%
FANG	D	0.55%
FFIV	B	0.55%
MPC	D	0.54%
INCY	C	0.53%
CME	A	0.53%
PTC	A	0.52%
ELV	F	0.52%
BMY	B	0.49%
XEL	A	0.46%
NEM	D	0.46%
UBER	D	0.45%
JNPR	F	0.45%
XOM	B	0.45%
WDAY	B	0.43%
EG	C	0.43%
ERIE	D	0.42%
VRSK	A	0.42%
CL	D	0.41%
CHD	B	0.4%
HUM	C	0.4%
BAH	F	0.39%
CMCSA	B	0.39%
AEP	D	0.39%
AKAM	D	0.39%
KHC	F	0.38%
WTW	B	0.38%
CTVA	C	0.38%
ROL	B	0.36%
IT	C	0.35%
AFG	A	0.35%
GEN	B	0.35%
CDW	F	0.35%
CVX	A	0.34%
MKL	A	0.34%
GRMN	B	0.33%
CPB	D	0.33%
AIZ	A	0.32%
NBIX	C	0.32%
WMB	A	0.31%
WRB	A	0.31%
GLW	B	0.31%
FWONK	B	0.31%
ANET	C	0.29%
ICE	C	0.28%
L	A	0.28%
AEE	A	0.24%
HUBS	A	0.24%
ADI	D	0.23%
D	C	0.23%
AZPN	A	0.23%
ALNY	D	0.22%
NTAP	C	0.22%
BMRN	D	0.22%
HRL	D	0.21%
CI	F	0.21%
KMB	D	0.21%
TW	A	0.2%
DTE	C	0.2%
PKG	A	0.2%
PFE	D	0.2%
DPZ	C	0.19%
CRWD	B	0.19%
CMS	C	0.19%
CDNS	B	0.18%
MELI	D	0.18%
MOH	F	0.18%
SNPS	B	0.18%
EOG	A	0.17%
HOLX	D	0.16%
LIN	D	0.16%
STX	D	0.16%
GOOG	C	0.16%
UTHR	C	0.14%
AMZN	C	0.14%
MDT	D	0.13%
DELL	C	0.12%
HIG	B	0.12%
OXY	D	0.12%
DGX	A	0.11%
LNT	A	0.1%
RTX	C	0.09%
TEL	B	0.07%
ATO	A	0.06%
PSX	C	0.06%
FSLR	F	0.06%
KNX	B	0.06%
VLO	C	0.05%
BR	A	0.05%
CRM	B	0.05%
ULTA	F	0.04%
CVS	D	0.04%

USMV Underweight 16 Positions Relative to SCLZ

Symbol	Grade	Weight
GOOGL	C	-5.41%
JPM	A	-3.37%
INTU	C	-1.81%
PM	B	-1.8%
CAT	B	-1.76%
QCOM	F	-1.68%
MO	A	-1.49%
SBUX	A	-1.48%
DE	A	-1.48%
ITW	B	-1.43%
PCAR	B	-1.42%
SNA	A	-1.38%
CTAS	B	-1.37%
ZTS	D	-1.32%
PAYX	C	-1.27%
MSCI	C	-1.26%