Core Viewpoint - The Invesco RAFI US 1500 Small-Mid ETF (PRFZ) is a smart beta ETF designed to provide broad exposure to the small-cap blend market segment, with a focus on outperforming traditional market cap weighted indexes [1][5]. Fund Overview - Launched on September 20, 2006, PRFZ has accumulated over $2.38 billion in assets, making it one of the larger ETFs in its category [1][5]. - The fund aims to match the performance of the FTSE RAFI US 1500 Small-Mid Index, which tracks small and medium-sized US companies based on fundamental measures such as book value, cash flow, sales, and dividends [5]. Cost Structure - The annual operating expenses for PRFZ are 0.34%, which is competitive within its peer group [6]. - The ETF has a 12-month trailing dividend yield of 1.23% [6]. Sector Exposure and Holdings - The Financials sector represents the largest allocation at 18.6%, followed by Industrials and Information Technology [7]. - Applovin Corp (APP) accounts for approximately 0.49% of the fund's total assets, with the top 10 holdings making up about 3.73% of total assets under management [8]. Performance Metrics - As of August 5, 2025, PRFZ has gained about 0.19% year-to-date and approximately 7.11% over the past year [10]. - The ETF has traded between $33.13 and $45.39 in the past 52 weeks, with a beta of 1.09 and a standard deviation of 21.35% over the trailing three-year period, indicating medium risk [10]. Alternatives - Other ETFs in the small-cap blend space include Vanguard Small-Cap ETF (VB) and iShares Core S&P Small-Cap ETF (IJR), which have significantly larger asset bases and lower expense ratios of 0.05% and 0.06%, respectively [12].

Core Insights - The ProShares S&P MidCap 400 Dividend Aristocrats ETF (REGL) offers investors exposure to the Mid Cap Value category and has accumulated over $1.8 billion in assets, making it an average-sized ETF in its category [5][6]. ETF Overview - Smart beta ETFs, like REGL, aim to outperform traditional market-cap weighted indexes by focusing on non-cap weighted strategies based on fundamental characteristics [2][3]. - REGL seeks to match the performance of the S&P MidCap 400 Dividend Aristocrats Index, which includes companies that have increased dividend payments for at least 15 consecutive years [5]. Cost and Performance - REGL has an annual operating expense ratio of 0.40% and a 12-month trailing dividend yield of 2.29% [6]. - The ETF has gained approximately 3.58% year-to-date and 7.58% over the past year, with a trading range between $72.71 and $88.79 in the last 52 weeks [10]. Sector Exposure and Holdings - The ETF has a significant allocation in the Financials sector, comprising about 32.2% of the portfolio, followed by Industrials and Utilities [7]. - The top 10 holdings account for approximately 20.85% of total assets, with Evercore Inc - A (EVR) being the largest at 2.81% [8]. Risk Profile - REGL has a beta of 0.78 and a standard deviation of 16.51% over the trailing three-year period, indicating a medium risk profile [10].

Core Viewpoint - The Invesco S&P 500 Equal Weight Consumer Discretionary ETF (RSPD) offers investors broad exposure to the consumer discretionary sector, utilizing a smart beta strategy that aims to outperform traditional market cap weighted indexes [1][3]. Fund Overview - RSPD was launched on November 1, 2006, and is managed by Invesco, with total assets exceeding $204.44 million, categorizing it as an average-sized ETF in the consumer discretionary space [1][5]. - The fund seeks to match the performance of the S&P 500 Equal Weight Consumer Discretionary Index, which equally weights stocks in the consumer discretionary sector [5]. Cost Structure - The annual operating expenses for RSPD are 0.40%, which is competitive within its peer group [6]. - The fund has a 12-month trailing dividend yield of 0.71% [6]. Sector Exposure and Holdings - RSPD is fully allocated to the consumer discretionary sector, representing 100% of its portfolio [7]. - The top holdings include Carnival Corp (2.33% of total assets), Royal Caribbean Cruises Ltd, and Nike Inc, with the top 10 holdings accounting for approximately 21.73% of total assets [8]. Performance Metrics - Year-to-date, RSPD has increased by about 4.38% and has risen approximately 20.27% over the last 12 months as of August 5, 2025 [10]. - The fund has traded between $44.09 and $56.67 in the past 52 weeks, with a beta of 1.20 and a standard deviation of 20.72% over the trailing three-year period [10]. Alternatives - For investors seeking to outperform the consumer discretionary segment, alternatives such as the Vanguard Consumer Discretionary ETF (VCR) and the Consumer Discretionary Select Sector SPDR ETF (XLY) are available, with VCR having $6.07 billion in assets and XLY $21.93 billion [12]. - VCR has a lower expense ratio of 0.09%, while XLY has an expense ratio of 0.08% [12].

Core Insights - The Fidelity High Dividend ETF (FDVV) is a smart beta ETF launched on September 12, 2016, providing broad exposure to the Style Box - All Cap Value category of the market [1] - The fund is managed by Fidelity and has accumulated over $6.09 billion in assets, making it one of the largest ETFs in its category [5] - FDVV aims to match the performance of the Fidelity Core Dividend Index, focusing on large and mid-cap high-dividend-paying companies [5] Fund Characteristics - The ETF has an annual operating expense ratio of 0.16%, positioning it as one of the cheaper options in the market [6] - It offers a 12-month trailing dividend yield of 3.10% [6] - The fund's top three sector allocations are Information Technology (26.8%), Financials, and Consumer Staples [7] Holdings and Performance - Nvidia Corp (NVDA) constitutes approximately 6.14% of the fund's total assets, with Microsoft Corp (MSFT) and Apple Inc (AAPL) also among the top holdings [8] - The top 10 holdings represent about 32.76% of FDVV's total assets under management [8] - Year-to-date, FDVV has increased by roughly 7.98% and has risen about 13.68% over the last 12 months as of August 4, 2025 [10] Risk and Diversification - The ETF has a beta of 0.91 and a standard deviation of 14.87% over the trailing three-year period, indicating a relatively lower risk profile [10] - With around 119 holdings, FDVV effectively diversifies company-specific risk [10] Alternatives - Other ETFs in the same space include iShares U.S. Equity Factor ETF (LRGF) and iShares Core S&P U.S. Value ETF (IUSV), with LRGF having $2.65 billion in assets and IUSV at $20.8 billion [12] - LRGF has an expense ratio of 0.08% and IUSV has a 0.04% expense ratio, presenting lower-cost alternatives for investors [12]

Core Insights - The Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (GSEW) is a smart beta ETF that provides broad exposure to the large-cap blend category of the market, launched on September 12, 2017 [1] Fund Overview - GSEW has accumulated over $1.29 billion in assets, making it one of the larger ETFs in its category [5] - The fund is managed by Goldman Sachs Funds and aims to match the performance of the Solactive US Large Cap Equal Weight Index, which includes approximately 500 of the largest U.S. companies [5] Cost Structure - GSEW has an annual operating expense ratio of 0.09%, making it one of the least expensive products in its space [6] - The ETF has a 12-month trailing dividend yield of 1.50% [6] Sector Exposure and Holdings - The ETF has the highest allocation in the Financials sector at about 16.5%, followed by Information Technology and Industrials [7] - Datadog Inc (DDOG) accounts for approximately 0.22% of the fund's total assets, with the top 10 holdings representing about 2.11% of total assets under management [8] Performance Metrics - GSEW has increased by roughly 6.35% year-to-date and is up approximately 13.2% over the past year as of August 4, 2025 [10] - The ETF has traded between $67.22 and $84.15 in the past 52 weeks and has a beta of 1.00 with a standard deviation of 16.55% over the trailing three-year period [10] Alternatives - Other ETFs in the large-cap blend space include SPDR S&P 500 ETF (SPY) and Vanguard S&P 500 ETF (VOO), with SPY having $644.75 billion and VOO $686.74 billion in assets [11] - SPY has an expense ratio of 0.09% while VOO charges 0.03% [11]

Core Viewpoint - The iShares U.S. Infrastructure ETF (IFRA) is a smart beta ETF that provides broad exposure to the Utilities/Infrastructure sector, managed by Blackrock, with significant assets under management and a focus on U.S. companies benefiting from infrastructure activities [1][5]. Fund Overview - Launched on April 3, 2018, IFRA has accumulated over $2.7 billion in assets, making it one of the larger ETFs in its category [1][5]. - The fund aims to match the performance of the NYSE FACTSET U.S. INFRASTRUCTURE INDEX, which includes equities of U.S. companies with infrastructure exposure [5]. Cost and Performance - IFRA has an annual operating expense ratio of 0.30%, positioning it as a cost-effective option in the ETF market [6]. - The 12-month trailing dividend yield for IFRA is 1.86% [6]. - Year-to-date, IFRA has gained approximately 9.05%, and it is up about 11.56% over the last 12 months as of August 4, 2025 [10]. Sector Exposure and Holdings - The ETF has a significant allocation in the Utilities sector, accounting for about 42.6% of its portfolio, followed by Industrials and Materials [7]. - New Fortress Energy Inc Class A (NFE) represents about 0.92% of total assets, with the top 10 holdings making up approximately 5.57% of total assets under management [8]. Risk and Diversification - IFRA has a beta of 0.98 and a standard deviation of 18.10% over the trailing three-year period, indicating effective diversification of company-specific risk with around 160 holdings [10]. Alternatives - Other ETFs in the infrastructure space include iShares Global Infrastructure ETF (IGF) and Global X U.S. Infrastructure Development ETF (PAVE), with assets of $7.65 billion and $8.91 billion respectively [12].

Core Insights - The Nuveen ESG Mid-Cap Growth ETF (NUMG) debuted on December 13, 2016, providing broad exposure to the mid-cap growth category of the market [1] Fund Overview - Managed by Nuveen, NUMG has accumulated over $398.5 million in assets, positioning it as an average-sized ETF in its category [5] - The fund aims to match the performance of the TIAA ESG USA Mid-Cap Growth Index, which includes equity securities from mid-cap companies listed on U.S. exchanges [5] Cost Structure - The annual operating expense ratio for NUMG is 0.31%, which is competitive with most peer products [6] - The fund has a 12-month trailing dividend yield of 0.06% [6] Sector Allocation and Holdings - The largest sector allocation for NUMG is Information Technology, comprising approximately 25.8% of the portfolio, followed by Industrials and Healthcare [7] - Quanta Services Inc. (PWR) represents about 3.97% of the fund's total assets, with the top 10 holdings accounting for approximately 33.43% of total assets under management [8] Performance Metrics - As of August 4, 2025, NUMG has increased by roughly 0.23% year-to-date and is up approximately 13.68% over the past year [10] - The fund has traded between $37.77 and $51.47 in the past 52 weeks, with a beta of 1.14 and a standard deviation of 21.33% over the trailing three-year period [10] Alternatives - Other ETFs in the mid-cap growth space include Vanguard ESG U.S. Stock ETF (ESGV) and iShares ESG Aware MSCI USA ETF (ESGU), with assets of $10.68 billion and $13.75 billion respectively [12] - ESGV has an expense ratio of 0.09%, while ESGU has an expense ratio of 0.15% [12]

Core Viewpoint - The Invesco Semiconductors ETF (PSI) offers investors exposure to the semiconductor sector through a smart beta strategy, aiming to outperform traditional market cap weighted ETFs [1][3][12]. Fund Overview - PSI was launched on June 23, 2005, and has accumulated over $699.47 million in assets, categorizing it as an average-sized ETF within the Technology ETFs [1][5]. - The fund seeks to replicate the performance of the Dynamic Semiconductor Intellidex Index, which evaluates semiconductor companies based on various investment criteria [5][6]. Cost and Expenses - PSI has an annual operating expense ratio of 0.56%, which is competitive within its peer group [7]. - The fund offers a 12-month trailing dividend yield of 0.14% [7]. Sector Exposure and Holdings - The fund is heavily weighted towards the Information Technology sector, which constitutes 97.9% of its portfolio [8]. - Key holdings include Applied Materials Inc (5.03%), Texas Instruments Inc, and Lam Research Corp, with the top 10 holdings making up approximately 46.24% of total assets [9]. Performance Metrics - Year-to-date, PSI has increased by approximately 1.5% and has risen about 11.14% over the past 12 months as of August 4, 2025 [11]. - The ETF has a beta of 1.50 and a standard deviation of 36.67% over the trailing three-year period, indicating higher risk compared to peers [11]. Alternatives - Other ETFs in the semiconductor space include iShares Semiconductor ETF (SOXX) and VanEck Semiconductor ETF (SMH), with assets of $13.11 billion and $26.21 billion respectively [13]. - SOXX and SMH both have lower expense ratios of 0.35%, appealing to investors seeking cost-effective options [13].

Core Insights - The iShares Semiconductor ETF (SOXX) is a smart beta ETF launched on July 10, 2001, designed to provide broad exposure to the Technology ETFs category [1] - The fund is managed by Blackrock and has amassed over $13.39 billion in assets, making it one of the largest ETFs in the Technology sector [5] - SOXX seeks to match the performance of the PHLX SOX Semiconductor Sector Index, which measures U.S. traded securities in the semiconductor business [5] Fund Characteristics - SOXX has an annual operating expense ratio of 0.35%, making it one of the least expensive products in its category [6] - The ETF has a 12-month trailing dividend yield of 0.69% [6] - The fund has a concentrated exposure with about 35 holdings, which is more than its peers [10] Sector Exposure and Holdings - The ETF is fully allocated in the Information Technology sector, accounting for approximately 100% of the portfolio [7] - Advanced Micro Devices Inc (AMD) represents about 8.33% of the fund's total assets, with Nvidia Corp (NVDA) and Broadcom Inc (AVGO) also being significant holdings [8] - The top 10 holdings make up approximately 57.85% of SOXX's total assets under management [8] Performance Metrics - The ETF has a return of roughly 11.73% and has increased by about 2.68% year-to-date as of August 1, 2025 [9] - SOXX has traded between $154.86 and $247.95 over the last 52 weeks [9] - The fund has a beta of 1.46 and a standard deviation of 35.68% for the trailing three-year period, indicating a high-risk profile [10] Alternatives - Other ETFs in the semiconductor space include SPDR S&P Semiconductor ETF (XSD) and VanEck Semiconductor ETF (SMH), with assets of $1.29 billion and $26.69 billion respectively [12] - Both XSD and SMH have an expense ratio of 0.35% [12] - Traditional market cap weighted ETFs may offer cheaper and lower-risk options for investors [12]

Core Insights - The Inspire International ETF (WWJD) is a smart beta ETF launched on September 30, 2019, designed to provide broad exposure to the World ETFs category [1] Fund Overview - The fund is sponsored by Inspire and has accumulated over $367.49 million in assets, positioning it as one of the larger ETFs in the World ETFs category [5] - The ETF aims to match the performance of the INSPIRE INTERNATIONAL INDEX, which selects foreign equity securities from large capitalization foreign and emerging market companies with an Inspire Impact Score of zero or higher [5] Cost Structure - The annual operating expenses for the ETF are 0.66%, which is comparable to most peer products in the space [6] - The 12-month trailing dividend yield is reported at 2.61% [6] Holdings and Sector Exposure - Kion Group Ag (KGX) constitutes approximately 0.56% of the fund's total assets, followed by Delta Elec-nvdr (DELTA-R) and Delek Group Ltd (DLEKG) [7] - The top 10 holdings account for about 5.42% of WWJD's total assets under management [8] Performance Metrics - The ETF has increased by roughly 18.3% and is up approximately 13.63% year-to-date as of August 1, 2025 [9] - The trading range over the last 52 weeks has been between $27.43 and $35.35 [9] - The ETF has a beta of 0.90 and a standard deviation of 16.40% for the trailing three-year period, indicating effective diversification of company-specific risk with about 213 holdings [10] Alternatives - The Inspire International ETF may not be suitable for investors looking to outperform the World ETFs segment, with alternatives such as Vanguard ESG U.S. Stock ETF (ESGV) and iShares ESG Aware MSCI USA ETF (ESGU) available [11][12] - ESGV has $10.9 billion in assets and an expense ratio of 0.09%, while ESGU has $14.01 billion in assets with an expense ratio of 0.15% [12]