USRD vs. SMRI ETF Comparison

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

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

$31.48

Average Daily Volume

143

Number of Holdings ^*

* may have additional holdings in another (foreign) market

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

$33.31

Average Daily Volume

5,596

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	USRD	SMRI
30 Days	0.74%	8.74%
60 Days	1.81%	9.55%
90 Days	2.68%	10.46%
12 Months		33.52%

5 Overlapping Holdings

Symbol	Grade	Weight in USRD	Weight in SMRI	Overlap
EXPE	B	2.31%	2.33%	2.31%
HPE	B	2.16%	2.1%	2.1%
NTAP	C	2.03%	1.79%	1.79%
QCOM	F	1.97%	1.81%	1.81%
ZM	C	2.17%	2.2%	2.17%

USRD Overweight 45 Positions Relative to SMRI

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

USRD Underweight 45 Positions Relative to SMRI

Symbol	Grade	Weight
APP	B	-4.07%
DAL	B	-2.56%
DOCU	B	-2.55%
MCK	A	-2.34%
SNA	A	-2.33%
VST	A	-2.32%
EPAM	B	-2.28%
BKNG	A	-2.22%
PCAR	B	-2.16%
EME	A	-2.14%
JBL	C	-2.11%
GEN	B	-2.07%
OC	A	-2.07%
CAH	B	-2.04%
CVX	A	-2.04%
FFIV	B	-2.03%
PYPL	B	-2.03%
PAYX	B	-2.03%
COR	B	-2.0%
UTHR	C	-2.0%
EG	C	-1.97%
EOG	A	-1.97%
VLO	C	-1.94%
NRG	B	-1.93%
ABNB	C	-1.91%
XOM	B	-1.91%
BWA	D	-1.89%
SLB	C	-1.87%
FANG	C	-1.84%
NUE	C	-1.81%
LKQ	F	-1.79%
MPC	D	-1.79%
DVN	F	-1.78%
NVR	D	-1.76%
CI	D	-1.71%
LEN	D	-1.71%
BLD	D	-1.68%
BG	D	-1.68%
AMGN	F	-1.68%
PHM	D	-1.68%
MOH	F	-1.64%
WSM	C	-1.59%
MRK	D	-1.58%
CNC	D	-1.46%
ELV	F	-1.43%