ACWV vs. MFEM ETF Comparison

Comparison of iShares MSCI All Country World Minimum Volatility Index Fund (ACWV) to PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM)

ACWV

iShares MSCI All Country World Minimum Volatility Index Fund

ACWV Description

The investment seeks to track the investment results of an index composed of developed and emerging market equities that, in the aggregate, have lower volatility characteristics relative to the broader developed and emerging equity markets. The fund generally invests at least 90% of its assets in securities of the underlying index or in depositary receipts representing securities in the underlying index. It seeks to track the underlying index, which has been developed by MSCI Inc. ("MSCI") to measure the combined performance of equity securities in both emerging and developed markets that in aggregate have lower volatility. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$113.95

Average Daily Volume

117,990

Number of Holdings ^*

139

* may have additional holdings in another (foreign) market

MFEM

PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF

MFEM Description

The investment seeks to track the investment results of the RAFI Dynamic Multi-Factor Emerging Markets Index. The fund seeks to achieve its investment objective by investing at least 80% of its total assets (exclusive of collateral held from securities lending) in the component securities of the RAFI Dynamic Multi-Factor Emerging Markets Index. The underlying index is constructed by RAFI Indices, LLC using a rules-based approach to construct factor portfolios within the underlying index. The underlying index consists of factor portfolios, each of which emphasizes one of the following factors: value, low volatility, quality and momentum.

Grade (RS Rating)

Last Trade

$19.65

Average Daily Volume

11,427

Number of Holdings ^*

23

* may have additional holdings in another (foreign) market

Performance

Period	ACWV	MFEM
30 Days	0.32%	-2.92%
60 Days	-0.25%	-0.81%
90 Days	1.23%	-1.06%
12 Months	18.77%	12.05%

1 Overlapping Holdings

	Symbol	Grade	Weight in ACWV	Weight in MFEM	Overlap
	CHT	D	0.37%	0.4%	0.37%

ACWV Overweight 138 Positions Relative to MFEM

	Symbol	Grade	Weight
	TMUS	B	2.03%
	MSI	B	1.88%
	WMT	A	1.82%
	CSCO	B	1.57%
	WM	A	1.5%
	MCK	B	1.42%
	ROP	B	1.36%
	RSG	A	1.19%
	VRTX	F	1.13%
	PEP	F	1.08%
	MRK	F	1.06%
	JNJ	D	1.05%
	COR	B	1.05%
	MCD	D	1.02%
	BRK.A	B	0.91%
	CB	C	0.88%
	MMC	B	0.88%
	PGR	A	0.84%
	ED	D	0.84%
	UNH	C	0.83%
	KR	B	0.83%
	PG	A	0.82%
	DUK	C	0.81%
	SO	D	0.8%
	NOC	D	0.77%
	AZO	C	0.77%
	VZ	C	0.76%
	MSFT	F	0.76%
	IBM	C	0.73%
	WEC	A	0.68%
	GDDY	A	0.64%
	EA	A	0.63%
	ORLY	B	0.62%
	REGN	F	0.61%
	GIS	D	0.61%
	V	A	0.59%
	K	A	0.57%
	ACGL	D	0.57%
	CBOE	B	0.54%
	APH	A	0.54%
	ORCL	B	0.54%
	LLY	F	0.52%
	ABBV	D	0.49%
	GILD	C	0.48%
	FI	A	0.48%
	CHD	B	0.46%
	HSY	F	0.44%
	MKL	A	0.43%
	ELV	F	0.42%
	WRB	A	0.41%
	KEYS	A	0.41%
	L	A	0.4%
	UTHR	C	0.4%
	WCN	A	0.39%
	INCY	C	0.38%
	TJX	A	0.37%
	BAH	F	0.37%
	KDP	D	0.36%
	FFIV	B	0.36%
	CL	D	0.35%
	VRSN	F	0.35%
	AON	A	0.35%
	AMGN	D	0.34%
	KHC	F	0.33%
	AJG	B	0.33%
	TRV	B	0.32%
	TSN	B	0.32%
	JNPR	F	0.32%
	NBIX	C	0.31%
	HUM	C	0.31%
	BRO	B	0.3%
	GEN	B	0.3%
	KMB	D	0.3%
	AKAM	D	0.27%
	SJM	D	0.27%
	T	A	0.26%
	ACN	C	0.26%
	ERIE	D	0.26%
	MDLZ	F	0.25%
	BMY	B	0.25%
	CF	B	0.25%
	CI	F	0.24%
	YUM	B	0.24%
	FCNCA	A	0.23%
	LMT	D	0.23%
	CME	A	0.23%
	HRL	D	0.23%
	FWONK	B	0.22%
	PTC	A	0.22%
	BDX	F	0.22%
	CPB	D	0.22%
	CTSH	B	0.21%
	ROL	B	0.21%
	MFG	B	0.21%
	JKHY	D	0.2%
	MA	C	0.19%
	BMRN	D	0.19%
	DPZ	C	0.19%
	CAH	B	0.18%
	GD	F	0.18%
	LNG	B	0.16%
	ULTA	F	0.16%
	CMS	C	0.16%
	MPC	D	0.15%
	DGX	A	0.15%
	AIZ	A	0.13%
	WIT	A	0.12%
	CTVA	C	0.12%
	MOH	F	0.12%
	FICO	B	0.12%
	MNST	C	0.12%
	AZPN	A	0.11%
	TDY	B	0.11%
	AEE	A	0.11%
	XEL	A	0.11%
	EG	C	0.1%
	WTW	B	0.1%
	XOM	B	0.1%
	WDAY	B	0.1%
	PCG	A	0.1%
	ABT	B	0.1%
	TPL	A	0.1%
	NEM	D	0.09%
	TRGP	B	0.08%
	AEP	D	0.07%
	IT	C	0.07%
	KNX	B	0.06%
	ANET	C	0.06%
	DINO	D	0.06%
	FANG	D	0.06%
	CHRW	C	0.06%
	CAG	D	0.05%
	GPC	D	0.05%
	HOLX	D	0.05%
	ACI	C	0.05%
	KO	D	0.05%
	HSIC	B	0.05%
	HKD	F	0.0%

ACWV Underweight 22 Positions Relative to MFEM

	Symbol	Grade	Weight
	SHG	D	-0.68%
	VALE	F	-0.54%
	TME	D	-0.46%
	KB	B	-0.42%
	KT	A	-0.33%
	KEP	B	-0.32%
	SKM	D	-0.27%
	PDD	F	-0.25%
	VIPS	F	-0.23%
	BCH	F	-0.16%
	GGB	C	-0.15%
	LPL	F	-0.13%
	BRFS	D	-0.13%
	SBSW	D	-0.11%
	YUMC	C	-0.1%
	SGRP	D	-0.09%
	FN	D	-0.09%
	CAR	C	-0.05%
	SBLK	F	-0.05%
	SIMO	D	-0.04%
	ZTO	F	-0.04%
	AKO.A	F	-0.02%

ACWV: Top Represented Industries & Keywords

Industries: Utilities - Regulated Electric Drug Manufacturers - Major Packaged Foods Biotechnology Insurance - Property & Casualty Insurance Brokers Software - Application Health Care Plans Information Technology Services Beverages - Soft Drinks Business Services Household & Personal Products Medical Distribution Software - Infrastructure Specialty Retail Telecom Services Aerospace & Defense Communication Equipment Insurance - Diversified Restaurants

Keywords: S&P 500 Nasdaq 100 Insurance Dow Jones Component Natural Gas Electricity Medicine Telecommunications Insurance Products Risk Management Casualty Insurance Cloud Computing Drink Food Products Pharmaceutical Products Business Process Outsourcing Computing Diabetes Disability Electronics

MFEM: Top Represented Industries & Keywords

Industries: Telecom Services Banks - Regional - Asia Consumer Electronics Specialty Retail Banks - Regional - Latin America Beverages - Non-Alcoholic Business Services Gold Industrial Metals & Minerals Integrated Shipping & Logistics Internet Content & Information Packaged Foods Rental & Leasing Services Restaurants Semiconductors Shipping & Ports Steel Utilities - Regulated Electric

Keywords: Bank Broadband Collection Services Currency Information And Communications Technology Internet Access Investment Banking Investment Banking Services Phone Services Securitization Telephone Services Account Management Banking Broadband Internet Cloud Computing Connection Services Demand Deposit Financial Products Interconnection Services Internet Access Services