ETF Research Center

TMFC tracks an index of 100 of the largest US companies identified by any of the Motley Fool publications, including the top companies in the Motley Fool IQ Database.

FUND BASICS
Category	US Equities
Fund Sponsor	The RBB Fund
Website	www.fool100etf.com
Inception date	Jan 29, 2018
Assets (mns)	$400
Currency	USD
Expense ratio	50 bp
Distributions	Annually

FUND STRUCTURE
Regulation	Open-Ended Fund
Custodian
Weighting	Market Cap
Index replication
Uses derivatives	No
Options available	No

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	101
Wgt avg mkt cap (mns)	$868,646
Large cap (>$10bn)	99.8%
Mid cap ($2-10bn)	0.0%
Small cap (<$2bn)	0.0%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	57.4 %
APPLE INC	11.9 %
MICROSOFT CORP	10.4 %
AMAZON.COM INC	9.1 %
ALPHABET INC. CLASS C	8.1 %
FACEBOOK	4.3 %
TESLA MOTORS INC	3.5 %
BERKSHIRE HATHAWAY INC-CL B	3.2 %
VISA INC-CLASS A SHARES	2.8 %
NVIDIA CORP	2.1 %
MASTERCARD INC-CLASS A	2.0 %

TOP COUNTRY EXPOSURE
	UNITED STATES	99.9 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru February 28)
Year-to-date	1 year	5 years	10 years	Since Incep.
-0.4%	46.7%	--	--	24.6%

Market Correlations
versus...	Beta	R-squared
S&P500	1.01	92%
MSCI EAFE	0.89	69%
MSCI Emg. Mkts.	0.70	54%

Technical Indicators
Recent close	$34.67
30d moving avg.	$36.30
Annualized volatility	19.7%
Short interest (ETF)	0.0%
Short interest (Underlying)	1.5%
Relative strength (RSI)	48

Liquidity measures
Avg. volume (thou.)	71
Turnover	0.6%
Bid/Ask (% of price)	0.18%
ADV underlying (mns)	$125,372

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Motley Fool 100 Index ETF ETF based on the alternatives' overlap in portfolio holdings with TMFC. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

TMFC

Expense:

50 bp

ALTAR Score™:

3.1%

ALTERNATIVE ETFs BASED ON OVERLAP WITH TMFC
Ticker	Fund Name	Overlap¹ vs TMFC (%)	Expense ratio (bp)	Savings vs TMFC (bp)	ALTAR Score™ (%)	ALTAR vs TMFC (%)
SCHG	Schwab U.S. Large-Cap Growth ETF	72.6	4	46	3.4	+0.3
IWY	iShares Russell Top 200 Growth ETF	71.0	20	30	3.9	+0.9
MGK	Vanguard Mega Cap Growth ETF	70.9	7	43	3.8	+0.8
VOOG	Vanguard S&P 500 Growth ETF	68.4	10	40	4.0	+0.9
ESGV	Vanguard ESG U.S. Stock ETF	68.1	12	38	4.7	+1.6
IWF	iShares Russell 1000 Growth ETF	65.9	19	31	3.8	+0.7
SPYG	SPDR Portfolio S&P 500 Growth ETF	65.6	4	46	4.1	+1.0
IVW	iShares S&P 500 Growth ETF	65.6	18	32	3.9	+0.9
VUG	Vanguard Growth Index Fund	64.3	4	46	3.7	+0.6
XLG	Invesco S&P 500 Top 50 ETF	62.8	20	30	4.4	+1.3
VONG	Vanguard Russell 1000 Growth Index Fund	62.7	8	42	3.9	+0.8
IUSG	iShares Core S&P US Growth ETF	61.7	4	46	4.0	+1.0
QYLD	Global X NASDAQ 100 Covered Call ETF	59.9	60	-10	3.4	+0.3
IETC	iShares Evolved U.S. Technology ETF	59.8	18	32	3.7	+0.6
QYLG	Global X Nasdaq 100 Covered Call & Growth ETF	59.8	60	-10	3.4	+0.3
QQQM	Invesco NASDAQ 100 ETF	59.7	15	35	3.8	+0.8
QQQ	Invesco QQQ Trust	59.7	20	30	3.8	+0.7
NUSI	Nationwide Risk-Managed Income ETF	58.5	68	-18	3.3	+0.2
HIPR	Direxion High Growth ETF	56.3	40	10	4.2	+1.2
IGM	iShares Expanded Tech Sector ETF	56.0	46	4	3.5	+0.4
OEF	iShares S&P 100 ETF	55.4	20	30	4.5	+1.5
XOUT	GraniteShares XOUT U.S. Large Cap ETF	54.3	60	-10	3.8	+0.7
ONEQ	Fidelity Nasdaq Composite Index Tracking Stock	53.8	21	29	3.2	+0.1
MMTM	SPDR S&P 1500 Momentum Tilt ETF	52.5	12	38	4.2	+1.2
BKLC	BNY Mellon US Large Cap Core Equity ETF	52.4	0	50	4.8	+1.7
SPUS	SP Funds S&P 500 Sharia Industry Exclusions ETF	52.3	49	1	3.9	+0.8
IWL	iShares Russell Top 200 ETF	51.5	15	35	4.7	+1.6
MGC	Vanguard Mega Cap Index Fund	51.1	7	43	4.8	+1.8
SPMO	Invesco S&P 500 Momentum ETF	48.6	13	37	4.3	+1.3
SYG	SPDR MFS Systematic Growth Equity ETF	48.0	60	-10	3.9	+0.8
JKE	iShares Morningstar Large-Cap Growth ETF	47.2	25	25	2.5	-0.6
SPXN	ProShares S&P 500 Ex-Financials ETF	46.9	27	23	4.5	+1.4
IQSU	IQ Candriam ESG US Equity ETF	46.3	9	41	4.8	+1.7
XVV	iShares ESG Screened S&P 500 ETF	46.2	8	42	5.0	+1.9
DSI	iShares MSCI KLD 400 Social ETF	45.8	25	25	4.7	+1.6
EFIV	SPDR S&P 500 ESG ETF	45.8	10	40	4.9	+1.8
SNPE	Xtrackers S&P 500 ESG ETF	45.8	10	40	4.9	+1.8
SPXV	ProShares S&P 500 Ex-Health Care ETF	45.0	27	23	4.5	+1.4
SPXE	ProShares S&P 500 Ex-Energy ETF	44.4	27	23	4.8	+1.8
GSUS	Goldman Sachs MarketBeta U.S. Equity ETF	44.4	7	43	4.8	+1.7
ESG	FlexShares STOXX US ESG Impact Index Fund	44.0	32	18	4.8	+1.7
SFY	SoFi Select 500 ETF	44.0	0	50	4.8	+1.7
PBP	Invesco S&P 500 BuyWrite ETF	43.7	49	1	4.5	+1.4
IYW	iShares U.S. Technology ETF	43.7	43	7	3.7	+0.6
STLG	iShares Factors US Growth Style ETF	43.6	25	25	4.6	+1.5
SPYX	SPDR S&P 500 Fossil Fuel Reserves Free ETF	43.4	20	30	5.0	+1.9
VV	Vanguard Large-Cap Index Fund	43.4	4	46	4.8	+1.7
ESGU	iShares MSCI USA ESG Optimized ETF	43.4	15	35	4.7	+1.6
XYLG	Global X S&P 500 Covered Call & Growth ETF	43.4	60	-10	4.5	+1.4
SPY	SPDR S&P 500 ETF Trust	43.4	9	41	4.9	+1.8
SUSL	iShares ESG MSCI USA Leaders ETF	43.4	10	40	5.0	+2.0
IVV	iShares Core S&P 500 ETF	43.3	3	47	4.9	+1.9
BBUS	JP Morgan Betabuilders U.S. Equity ETF	43.3	2	48	4.8	+1.8
SPLG	SPDR Portfolio Large Cap ETF	43.3	3	47	4.9	+1.9
USSG	Xtrackers MSCI USA ESG Leaders Equity ETF	43.3	10	40	5.0	+2.0
ADME	Aptus Drawdown Managed Equity ETF	43.0	79	-29	3.5	+0.5
NACP	Impact Shares NAACP Minority Empowerment ETF	42.7	49	1	4.6	+1.5
PBUS	Invesco PureBeta MSCI USA ETF	42.6	4	46	4.8	+1.8
VOO	VANGUARD S&P 500 ETF	42.6	3	47	4.9	+1.9
CATH	Global X S&P 500 Catholic Values Custom ETF	42.5	29	21	4.7	+1.6
JUST	Goldman Sachs JUST U.S. Large Cap Equity ETF	42.2	20	30	4.8	+1.7
SCHX	Schwab U.S. Large-Cap ETF	41.8	3	47	4.8	+1.7
VEGN	US Vegan Climate ETF	41.6	60	-10	4.1	+1.0
MTUM	iShares MSCI USA Momentum Factor ETF	41.3	15	35	2.7	-0.4
SPQQ	Siren Large Cap Blend Index ETF	41.2	20	30	4.0	+0.9
JCTR	JPMorgan Carbon Transition U.S. Equity ETF	41.0	15	35	5.0	+1.9
FTEC	Fidelity MSCI Information Technology Index ETF	40.9	8	42	4.1	+1.0
VGT	Vanguard Information Technology Index Fund	40.8	10	40	4.1	+1.0
LRGE	ClearBridge Large Cap Growth ESG ETF	40.8	59	-9	3.5	+0.4
IWB	iShares Russell 1000 ETF	40.5	15	35	4.7	+1.6
SCHK	Schwab 1000 Index ETF	40.2	5	45	4.7	+1.6
IYY	iShares Dow Jones U.S. ETF	40.1	20	30	4.6	+1.5
FDMO	Fidelity Momentum Factor ETF	39.8	29	21	2.9	-0.2
GSLC	Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF	39.5	9	41	5.1	+2.0
SPTM	SPDR Portfolio Total Stock Market ETF	39.5	3	47	5.0	+1.9
VONE	Vanguard Russell 1000 ETF	39.0	8	42	4.7	+1.7
SFYF	SoFi 50 ETF	38.3	29	21	-0.4	-3.5
PLC	Principal U.S. Large-Cap Multi-Factor Core Index ETF	38.1	15	35	0.0	-3.1
ACIO	Aptus Collared Income Opportunity ETF	38.0	79	-29	4.0	+1.0
VTHR	Vanguard Russell 3000 Index Fund	38.0	10	40	4.6	+1.5
IWV	iShares Russell 3000 ETF	37.7	20	30	4.5	+1.4
SCHB	Schwab U.S. Broad Market ETF	37.7	3	47	4.6	+1.6
ITOT	iShares Core S&P Total U.S. Stock Market ETF	37.4	3	47	4.6	+1.5
IOO	iShares Global 100 ETF	37.3	40	10	4.8	+1.7
XLK	Technology Select Sector SPDR Fund	37.2	12	38	4.4	+1.3
IXN	iShares Global Tech ETF	37.2	46	4	3.9	+0.9
WOMN	Impact Shares YWCA Women's Empowerment ETF	37.2	75	-25	4.5	+1.4
ACVF	American Conservative Values ETF	37.1	75	-25	4.4	+1.3
JMOM	JPMorgan U.S. Momentum Factor ETF	37.0	12	38	3.4	+0.3
VTI	Vanguard Total Stock Market Index Fund	36.5	3	47	4.6	+1.5
TECB	iShares US Tech Breakthrough Multisector ETF	36.2	40	10	3.6	+0.5
USMC	Principal U.S. Mega-Cap Multi-Factor Index ETF	35.9	12	38	5.1	+2.1
USXF	iShares ESG Advanced MSCI USA ETF	35.5	10	40	4.7	+1.7
MMLG	First Trust Multi-Manager Large Growth ETF	35.2	85	-35	1.8	-1.3
CACG	ClearBridge All Cap Growth ETF	35.0	54	-4	4.1	+1.0
SUSA	iShares MSCI USA ESG Select ETF	34.7	25	25	4.5	+1.4
SYE	SPDR MFS Systematic Core Equity ETF	34.5	60	-10	5.0	+1.9
ECOZ	TrueMark ESG Active Opportunities ETF	34.3	58	-8	3.1	+0.0
RECS	Columbia Research Enhanced Core ETF	34.1	15	35	5.5	+2.4

¹Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

	2016	2017	2018	2019	2020	2021E	2022E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
Book value per share	**	**	**	**	**	**	**

Sales per share growth		**%	**%	**%	**%	**%	**%
EPS growth		**%	**%	**%	**%	**%	**%

Sales per share growth		**%	**%	**%	**%	**%	**%
EPS growth		**%	**%	**%	**%	**%	**%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est.	**%		Debt-to-equity	**x
Asset turnover	**%		Assets-to-equity	**x

Return on equity

Revision activity*

*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS

	2020	2021E	2022E
Price-to-sales	**	**	**
Price-to-earnings	**	**	**
Price-to-cash flow	**	**	**
Price-to-growth	**	**	**
Price-to-book value	**	**	**
Yield	**	**	**

Historical valuation trends

Forward multiple:	Motley Fool 100 Index ETF
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	22.8	%
Divided by: Fwd. P/BV	6.4	x
Less: Expense ratio	50	bp
Equals: ALTAR Score	3.1	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.35	CATEGORY AVERAGE	1.50

The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale: BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3. Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.