ARB vs. PSCH ETF Comparison

Comparison of AltShares Merger Arbitrage ETF (ARB) to PowerShares S&P SmallCap Health Care Portfolio (PSCH)

ARB

AltShares Merger Arbitrage ETF

ARB Description

AltShares Trust - AltShares Merger Arbitrage ETF is an exchange traded fund launched and managed by Water Island Capital, LLC. It invests in public equity markets of global region. The fund invests through derivatives in stocks of companies operating across diversified sectors. The fund employs long/short strategy and uses derivatives such as futures, forwards, swaps to create its portfolio. AltShares Trust - AltShares Merger Arbitrage ETF is domiciled in the United States.

Grade (RS Rating)

Last Trade

$26.69

Average Daily Volume

21,848

Number of Holdings ^*

* may have additional holdings in another (foreign) market

PSCH

PowerShares S&P SmallCap Health Care Portfolio

PSCH Description

The PowerShares S&P SmallCap Health Care Portfolio (Fund) is based on the S&P SmallCap 600Â® Capped Health Care Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to measure the overall performance of common stocks in the health care sector. Included are healthcare companies principally engaged in the business of providing healthcare-related products and services, including biotechnology, pharmaceuticals, medical technology and supplies, and facilities. The Index is a subset of the S&P SmallCap 600Â® Index, which is a float-adjusted, market-capitalization-weighted index reflecting the US small-cap market. The Fund and the Index are rebalanced and reconstituted quarterly.

Grade (RS Rating)

Last Trade

$40.59

Average Daily Volume

18,707

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	ARB	PSCH
30 Days	-1.68%	-5.35%
60 Days	-0.55%	-6.31%
90 Days	-0.24%	-3.80%
12 Months	4.09%	-8.21%

0 Overlapping Holdings

	Symbol	Grade	Weight in ARB	Weight in PSCH	Overlap

ARB Overweight 32 Positions Relative to PSCH

Symbol	Grade	Weight
PXD	A	3.66%
HES	A	3.57%
CTLT	C	3.52%
ANSS	C	3.4%
MDC	A	2.74%
AXNX	C	2.74%
DOOR	A	2.7%
JNPR	C	2.68%
CERE	A	2.64%
EVBG	A	2.08%
VZIO	B	2.0%
KAMN	A	1.96%
DFS	A	1.89%
CPRI	F	1.88%
SWN	A	1.86%
X	F	1.82%
SP	C	1.39%
HAYN	A	1.39%
AMED	D	1.36%
OLK	C	1.31%
HA	D	1.29%
MGRC	D	1.01%
WRK	B	0.99%
EGLE	B	0.73%
TAST	A	0.69%
NWLI	A	0.66%
CNSL	C	0.65%
CSTR	A	0.61%
TGAN	B	0.52%
ONB	B	-0.13%
CHRD	A	-1.89%
COF	A	-2.2%

ARB Underweight 64 Positions Relative to PSCH

Symbol	Grade	Weight
ENSG	C	-5.91%
GKOS	A	-4.19%
OGN	B	-4.01%
MMSI	C	-3.68%
ALKS	D	-3.55%
ITGR	B	-3.5%
PBH	C	-3.0%
FTRE	D	-2.99%
RDNT	A	-2.76%
SEM	C	-2.57%
PINC	F	-2.2%
VCEL	D	-2.06%
CNMD	F	-2.05%
STAA	B	-2.0%
AMN	F	-1.91%
CRVL	C	-1.91%
CORT	F	-1.86%
PDCO	D	-1.85%
TNDM	A	-1.84%
NARI	F	-1.79%
ICUI	F	-1.74%
OMI	D	-1.69%
PRVA	F	-1.67%
CERT	D	-1.65%
NEO	D	-1.55%
CPRX	D	-1.52%
MYGN	F	-1.5%
ASTH	D	-1.46%
SUPN	D	-1.45%
UFPT	D	-1.42%
ADUS	D	-1.37%
AMPH	D	-1.35%
DVAX	F	-1.34%
USPH	D	-1.34%
SDGR	F	-1.24%
LGND	D	-1.16%
LMAT	D	-1.13%
PCRX	F	-1.09%
OMCL	F	-1.08%
XNCR	D	-1.08%
NHC	C	-1.05%
COLL	C	-1.02%
IRWD	D	-0.95%
ANIP	B	-0.89%
HRMY	F	-0.86%
AVNS	F	-0.78%
RCUS	F	-0.78%
AHCO	D	-0.72%
INVA	C	-0.72%
MD	F	-0.67%
RGNX	F	-0.65%
SLP	A	-0.65%
VIR	F	-0.65%
VREX	F	-0.63%
EMBC	F	-0.54%
CTKB	F	-0.53%
CCRN	D	-0.52%
HSTM	C	-0.52%
BLFS	C	-0.49%
MLAB	F	-0.47%
FLGT	F	-0.37%
OSUR	F	-0.35%
AGTI	B	-0.31%
PAHC	B	-0.24%