WBIF vs. MARB ETF Comparison

Comparison of WBI Large Cap Tactical Value Shares (WBIF) to First Trust Merger Arbitrage ETF (MARB)

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

$29.16

Average Daily Volume

1,052

Number of Holdings ^*

* may have additional holdings in another (foreign) market

MARB

First Trust Merger Arbitrage ETF

MARB Description

The investment seeks to provide investors with capital appreciation. Under normal market conditions, the fund seeks to achieve its investment objective by establishing long and short positions in the equity securities of companies that are involved in a publicly-announced significant corporate event, such as a merger or acquisition. It's portfolio may include equity securities issued by U.S. and non-U.S. companies, including American Depositary Receipts (ADRs), and derivatives, including total return swaps. The fund may invest in securities issued by small, mid and large capitalization issuers. It is non-diversified.

Grade (RS Rating)

Last Trade

$19.84

Average Daily Volume

6,659

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	WBIF	MARB
30 Days	-0.28%	-1.38%
60 Days	3.44%	-0.64%
90 Days	0.79%	0.72%
12 Months	12.47%	-0.66%

2 Overlapping Holdings

	Symbol	Grade	Weight in WBIF	Weight in MARB	Overlap
	DFS	C	0.72%	3.46%	0.72%
	SLB	D	1.43%	-3.68%	-3.68%

WBIF Overweight 67 Positions Relative to MARB

Symbol	Grade	Weight
BDX	B	3.27%
DTE	A	3.26%
UNM	A	3.21%
VOYA	A	3.21%
WRB	B	3.2%
CI	D	3.16%
FIX	A	3.12%
RGA	C	3.09%
UHS	D	3.05%
PRU	C	2.99%
CMS	A	2.98%
OXY	F	2.89%
LRCX	D	1.52%
AMAT	B	1.5%
LEN	B	1.48%
MCK	F	1.48%
AXP	A	1.48%
V	C	1.47%
CSL	A	1.47%
MPC	F	1.46%
PHM	A	1.45%
DHI	C	1.44%
ADP	A	1.43%
BYD	C	1.39%
MLI	C	1.38%
PAG	D	1.37%
NXST	D	1.35%
AME	D	1.33%
PAYX	A	1.32%
DKS	D	1.31%
EXP	C	1.29%
BR	B	1.29%
PRI	A	1.28%
RMD	C	1.28%
OC	C	1.28%
G	A	1.27%
R	C	1.26%
HRB	C	1.22%
LPX	A	1.22%
CASY	D	1.22%
TXRH	A	1.2%
KBR	C	1.2%
FLTR	A	0.77%
FALN	A	0.77%
AGZD	B	0.76%
FTSL	A	0.7%
SYF	B	0.57%
EG	B	0.57%
ALSN	A	0.57%
DOX	B	0.56%
IPG	C	0.56%
TOL	A	0.56%
AVY	C	0.56%
NEU	F	0.55%
EQH	C	0.55%
STIP	A	0.55%
ALLE	A	0.55%
TTC	D	0.55%
GPI	C	0.55%
DCI	B	0.55%
CBT	B	0.55%
SCI	C	0.54%
THG	C	0.54%
NOV	F	0.53%
GL	C	0.53%
AOS	B	0.43%
BKLN	A	0.32%

WBIF Underweight 28 Positions Relative to MARB

Symbol	Grade	Weight
HTLF	C	-6.3%
HCP	B	-5.53%
AMED	D	-4.82%
EDR	A	-4.74%
ACI	F	-4.56%
AXNX	A	-4.09%
JNPR	B	-3.63%
ANSS	D	-3.46%
CTLT	A	-3.18%
VZIO	A	-3.02%
HES	D	-2.72%
SRCL	B	-2.59%
PRFT	A	-2.53%
CHX	D	-2.48%
MGRC	D	-2.42%
SRDX	D	-2.25%
PWSC	C	-2.0%
IBTX	D	-1.84%
MRO	D	-1.77%
CPRI	B	-1.59%
EQT	B	--0.07%
WSC	D	--0.99%
COP	D	--1.78%
SSB	C	--1.86%
SNPS	F	--1.96%
CVX	B	--3.1%
COF	C	--3.86%
UMBF	C	--6.56%