WBIF vs. BTAL ETF Comparison

Comparison of WBI Large Cap Tactical Value Shares (WBIF) to QuantShares U.S. Market Neutral Anti Beta Fund ETF (BTAL)

WBIF

WBI Large Cap Tactical Value Shares

WBIF Description

The investment seeks long-term capital appreciation and the potential for current income, while also seeking to protect principal during unfavorable market conditions. The fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the equity securities of large capitalization domestic and foreign companies which WBI Investments, Inc., the sub-advisor to the fund and an affiliate of Millington Securities Inc., the advisor, believes display an attractive discount in a company's intrinsic value relative to its market price, and up to 20% of its net assets in other tactical investment opportunities.

Grade (RS Rating)

Last Trade

$30.07

Average Daily Volume

1,654

Number of Holdings ^*

* may have additional holdings in another (foreign) market

BTAL

QuantShares U.S. Market Neutral Anti Beta Fund ETF

BTAL Description

The investment seeks performance results that correspond to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Thematic Market Neutral Anti-Beta Index. The fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in common stock, including the short positions, in the Target Anti-Beta Index. The Target Anti-Beta Index is a market neutral index that is dollar-neutral. As such, it identifies long and short securities positions of approximately equal dollar amounts. In choosing to track a market neutral index, the fund seeks to limit the effects of general market movements on the fund.

Grade (RS Rating)

Last Trade

$19.20

Average Daily Volume

467,825

Number of Holdings ^*

392

* may have additional holdings in another (foreign) market

Performance

Period	WBIF	BTAL
30 Days	2.86%	-2.59%
60 Days	3.49%	-1.84%
90 Days	3.85%	-2.74%
12 Months	12.70%	-5.88%

19 Overlapping Holdings

Symbol	Grade	Weight in WBIF	Weight in BTAL	Overlap
ACN	B	3.98%	0.44%	0.44%
ADP	A	1.53%	0.46%	0.46%
ALSN	B	0.67%	0.56%	0.56%
CF	A	1.86%	0.46%	0.46%
CI	D	4.26%	0.4%	0.4%
DKS	D	4.24%	-0.37%	-0.37%
DOX	D	0.52%	0.43%	0.43%
G	B	1.44%	0.49%	0.49%
MCK	A	3.93%	0.51%	0.51%
MMC	B	2.12%	0.42%	0.42%
OXY	D	2.81%	0.38%	0.38%
PAYX	B	1.39%	0.47%	0.47%
RGA	A	3.26%	0.48%	0.48%
RMD	C	1.23%	-0.45%	-0.45%
THG	A	0.59%	0.51%	0.51%
TOL	B	0.54%	-0.47%	-0.47%
TXRH	B	1.33%	0.51%	0.51%
UNM	A	3.93%	0.57%	0.57%
WRB	A	4.74%	0.45%	0.45%

WBIF Overweight 24 Positions Relative to BTAL

Symbol	Grade	Weight
UHS	D	4.68%
FIX	A	4.58%
KBH	D	4.54%
NXST	C	4.43%
V	A	4.26%
PRU	A	4.14%
AMAT	F	3.55%
VOYA	B	3.26%
PHM	D	2.6%
AXP	A	1.53%
AME	A	1.46%
PRI	B	1.42%
BR	A	1.36%
CASY	A	1.28%
FLTR	A	0.76%
FALN	A	0.75%
AGZD	A	0.75%
FTSL	A	0.69%
DCI	B	0.56%
GL	C	0.55%
STIP	C	0.54%
ALLE	C	0.53%
CBT	D	0.53%
BKLN	A	0.32%

WBIF Underweight 373 Positions Relative to BTAL

Symbol	Grade	Weight
MSTR	B	-1.19%
BILL	A	-0.68%
IBKR	A	-0.62%
SFM	A	-0.6%
LPLA	A	-0.59%
PAYC	B	-0.59%
HQY	A	-0.58%
KMI	A	-0.56%
CFLT	B	-0.56%
SNA	A	-0.55%
NWL	C	-0.54%
BKR	A	-0.53%
PCTY	C	-0.53%
MKL	A	-0.53%
WH	B	-0.53%
BWXT	B	-0.53%
TGNA	B	-0.53%
TRV	B	-0.52%
FFIV	B	-0.52%
FTNT	C	-0.52%
MSI	B	-0.51%
RLI	A	-0.51%
PCAR	B	-0.51%
LNG	A	-0.51%
BMY	B	-0.51%
WELL	A	-0.5%
CHH	A	-0.5%
XEL	A	-0.5%
PNM	B	-0.5%
ORLY	B	-0.5%
T	A	-0.5%
CSCO	B	-0.49%
AEE	A	-0.49%
CINF	A	-0.49%
TMUS	B	-0.49%
PKG	A	-0.49%
GILD	C	-0.49%
ALL	A	-0.48%
VFC	C	-0.48%
SIGI	C	-0.48%
FOXA	A	-0.48%
VTRS	A	-0.48%
LULU	C	-0.48%
AIZ	A	-0.48%
AXS	A	-0.48%
TDY	B	-0.48%
BRO	B	-0.47%
SBRA	C	-0.47%
DBX	B	-0.47%
CHD	A	-0.47%
GLW	B	-0.47%
CME	B	-0.47%
AON	A	-0.47%
HON	C	-0.47%
HEI	A	-0.47%
KR	B	-0.47%
CW	C	-0.47%
RYAN	A	-0.47%
EDR	A	-0.46%
DRI	B	-0.46%
WEN	D	-0.46%
SLGN	A	-0.46%
RNR	C	-0.46%
LNT	A	-0.46%
WEC	A	-0.46%
ORI	A	-0.46%
UTHR	C	-0.45%
CB	C	-0.45%
CSX	C	-0.45%
CMG	B	-0.45%
REG	A	-0.45%
AVB	B	-0.45%
ARMK	B	-0.45%
PGR	A	-0.45%
WM	B	-0.45%
IBM	C	-0.45%
HIG	B	-0.45%
COR	B	-0.45%
ADC	A	-0.45%
DGX	A	-0.45%
WTW	B	-0.45%
HPQ	B	-0.45%
L	A	-0.45%
ROP	B	-0.45%
PNW	A	-0.45%
CHRW	B	-0.45%
XOM	B	-0.44%
JAZZ	B	-0.44%
DECK	A	-0.44%
EQR	C	-0.44%
CMS	C	-0.44%
BWA	D	-0.44%
CDP	C	-0.44%
VZ	C	-0.44%
NEU	D	-0.44%
CBOE	C	-0.43%
VRSN	C	-0.43%
UNH	B	-0.43%
DLB	B	-0.43%
CLH	C	-0.43%
ZI	D	-0.43%
CTSH	B	-0.43%
YUM	D	-0.43%
MSFT	D	-0.43%
MUSA	B	-0.43%
DD	C	-0.43%
RTX	D	-0.43%
X	B	-0.43%
RSG	A	-0.43%
OHI	C	-0.43%
ELS	C	-0.43%
TJX	A	-0.43%
CCK	D	-0.43%
DUK	C	-0.43%
MSM	C	-0.43%
COLM	C	-0.43%
FLO	D	-0.42%
AVT	C	-0.42%
VICI	C	-0.42%
JNJ	C	-0.42%
CACI	D	-0.42%
CXT	C	-0.42%
ED	C	-0.42%
GLPI	C	-0.42%
MCD	D	-0.42%
EG	C	-0.42%
HRB	D	-0.41%
J	D	-0.41%
WPC	C	-0.41%
SNX	D	-0.41%
MKC	C	-0.41%
OLLI	D	-0.41%
GD	D	-0.41%
PAG	B	-0.41%
BG	D	-0.4%
SAIC	F	-0.4%
CHE	D	-0.4%
MSA	F	-0.4%
NOC	D	-0.4%
TXT	D	-0.4%
ASGN	F	-0.39%
WTM	A	-0.39%
AMCR	C	-0.39%
O	C	-0.39%
JNPR	D	-0.39%
FANG	C	-0.39%
KHC	F	-0.38%
CPB	D	-0.38%
ON	D	-0.38%
ACGL	C	-0.38%
GIS	D	-0.38%
ERIE	D	-0.38%
MOS	F	-0.38%
LMT	D	-0.38%
FCN	F	-0.38%
FMC	D	-0.37%
MAN	F	-0.37%
KBR	F	-0.37%
ARW	D	-0.37%
KO	D	-0.37%
GPC	D	-0.37%
TNET	F	-0.37%
PFE	F	-0.37%
DVN	F	-0.37%
AMGN	F	-0.37%
MUR	D	-0.37%
ST	F	-0.36%
ABBV	F	-0.36%
MOH	F	-0.36%
AKAM	D	-0.36%
NEM	D	-0.35%
MTCH	D	-0.35%
FOXF	F	-0.35%
HUM	C	-0.34%
AZO	C	-0.33%
ELV	F	-0.33%
MDU	D	-0.32%
CNC	D	-0.32%
SRPT	F	-0.32%
BMRN	F	-0.29%
AGL	F	-0.16%
SMCI	F	--0.18%
SEDG	F	--0.19%
RUN	F	--0.21%
MRNA	F	--0.22%
CNXC	F	--0.23%
ENPH	F	--0.23%
MPWR	F	--0.24%
CE	F	--0.24%
WOLF	F	--0.25%
TXG	F	--0.26%
NTLA	F	--0.27%
RKT	F	--0.29%
CELH	F	--0.29%
RIVN	F	--0.3%
OPEN	F	--0.3%
EL	F	--0.31%
TER	F	--0.33%
BRZE	C	--0.33%
COTY	F	--0.33%
AMKR	D	--0.34%
ELF	C	--0.35%
EFX	F	--0.35%
SHLS	F	--0.35%
ARWR	D	--0.35%
AES	F	--0.35%
LRCX	F	--0.36%
TFX	F	--0.36%
WMS	F	--0.37%
RGEN	D	--0.37%
ALLY	C	--0.37%
NVCR	C	--0.38%
RIG	D	--0.38%
CNM	D	--0.38%
DINO	D	--0.39%
PLD	F	--0.39%
IDXX	F	--0.39%
KSS	F	--0.39%
ELAN	D	--0.39%
PINS	F	--0.4%
WBA	F	--0.4%
ARE	F	--0.4%
FND	D	--0.4%
MKSI	C	--0.4%
AMD	F	--0.4%
BLD	D	--0.4%
KMX	B	--0.4%
FBIN	D	--0.41%
ROIV	C	--0.41%
AGNC	C	--0.41%
W	D	--0.41%
POWI	F	--0.41%
CRL	D	--0.41%
DNLI	D	--0.42%
CHX	C	--0.42%
AWK	C	--0.42%
FCX	F	--0.42%
CZR	F	--0.42%
UBER	F	--0.42%
CWEN	C	--0.42%
CSGP	D	--0.42%
MU	D	--0.43%
ILMN	C	--0.43%
CC	C	--0.43%
CRSP	D	--0.43%
MGM	D	--0.43%
ALGN	D	--0.43%
PATH	C	--0.43%
SSD	F	--0.43%
SEE	C	--0.44%
THO	B	--0.44%
BLDR	D	--0.44%
F	C	--0.44%
TRU	D	--0.44%
EW	C	--0.44%
UGI	C	--0.44%
RYN	D	--0.44%
APG	B	--0.44%
BBWI	C	--0.44%
TGT	F	--0.44%
TREX	C	--0.45%
NWE	B	--0.45%
D	C	--0.45%
DAR	C	--0.45%
CARR	C	--0.45%
MTDR	B	--0.45%
AVGO	D	--0.45%
OC	A	--0.46%
SMG	C	--0.46%
VEEV	C	--0.46%
BXP	C	--0.46%
LAMR	C	--0.46%
ZS	B	--0.46%
KRC	B	--0.46%
JLL	D	--0.46%
ANET	C	--0.46%
PENN	C	--0.46%
ROKU	D	--0.47%
HHH	B	--0.47%
SHW	B	--0.47%
TROW	B	--0.48%
NVDA	B	--0.48%
LNC	C	--0.48%
AXTA	B	--0.49%
OZK	B	--0.49%
USFD	A	--0.49%
PFGC	B	--0.49%
ITT	A	--0.49%
NRG	B	--0.49%
WAL	B	--0.49%
GH	B	--0.49%
SNAP	D	--0.49%
USB	A	--0.49%
CFG	B	--0.49%
NVT	B	--0.49%
RF	A	--0.5%
TTD	B	--0.5%
NET	B	--0.5%
CAR	C	--0.51%
RMBS	B	--0.51%
PWR	A	--0.51%
GNRC	C	--0.51%
TT	A	--0.51%
CBRE	B	--0.51%
RBLX	C	--0.51%
RRC	B	--0.51%
LPX	B	--0.52%
CEG	C	--0.52%
COHR	B	--0.52%
PEN	B	--0.52%
ETN	A	--0.52%
IOT	A	--0.52%
URI	C	--0.52%
VNO	C	--0.52%
PYPL	B	--0.52%
ALB	B	--0.52%
DELL	B	--0.53%
ZION	B	--0.53%
MDB	B	--0.53%
AR	B	--0.53%
JHG	B	--0.53%
EXP	B	--0.53%
RH	C	--0.53%
FYBR	C	--0.53%
DKNG	B	--0.53%
INTC	C	--0.54%
SNV	C	--0.54%
BLK	B	--0.54%
FOUR	A	--0.54%
NTRS	A	--0.54%
XPO	B	--0.54%
CMA	B	--0.54%
CG	B	--0.55%
KKR	A	--0.55%
PNFP	B	--0.55%
WCC	B	--0.55%
AA	A	--0.56%
SCHW	B	--0.56%
DAY	B	--0.56%
Z	A	--0.56%
GME	C	--0.56%
EXPE	B	--0.56%
MRVL	B	--0.56%
TDOC	C	--0.56%
NTRA	A	--0.56%
BX	A	--0.57%
CRWD	B	--0.57%
GTLS	A	--0.58%
OWL	A	--0.58%
TPG	A	--0.58%
EQT	B	--0.59%
PODD	C	--0.59%
DASH	B	--0.59%
SAIA	B	--0.59%
SQ	A	--0.6%
LYV	A	--0.62%
LITE	B	--0.62%
DUOL	A	--0.63%
CCL	A	--0.63%
LYFT	C	--0.65%
VRT	B	--0.67%
CVNA	B	--0.68%
DAL	B	--0.68%
PTON	A	--0.69%
TSLA	B	--0.7%
TOST	B	--0.71%
COIN	C	--0.71%
HOOD	B	--0.72%
AXON	A	--0.74%
VST	A	--0.76%
SOFI	B	--0.79%
AFRM	A	--0.84%
PLTR	B	--0.87%