BEEZ vs. PSI ETF Comparison

Comparison of Honeytree U.S. Equity ETF (BEEZ) to PowerShares Dynamic Semiconductors (PSI)

BEEZ

Honeytree U.S. Equity ETF

BEEZ Description

The fund is an actively managed exchange-traded fund ("ETF") sub-advised by Honeytree Investment Management Ltd. (the "Sub-Adviser"). The fund does not seek to replicate the performance of a specified index. The fund seeks to achieve its investment objective by investing at least 80% of the fund"s net assets, plus borrowings for investment purposes in a concentrated portfolio of large-cap and mid-cap U.S. listed equity stocks.

Grade (RS Rating)

Last Trade

$32.81

Average Daily Volume

601

Number of Holdings ^*

* may have additional holdings in another (foreign) market

PSI

PowerShares Dynamic Semiconductors

PSI Description

The PowerShares Dynamic Semiconductors Portfolio (Fund) is based on the Dynamic Semiconductor IntellidexSM Index (Intellidex Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Intelldiex Index is designed to provide capital appreciation by thoroughly evaluating companies based on a variety of investment merit criteria, including: price momentum, earnings momentum, quality, management action, and value. The Underlying Intellidex Index is comprised of common stocks of 30 US semiconductors companies. These are companies that are principally engaged in the manufacture of semiconductors. The Fund and the Index are rebalanced and reconstituted quarterly in February, May, August and November.

Grade (RS Rating)

Last Trade

$56.38

Average Daily Volume

96,685

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	BEEZ	PSI
30 Days	1.11%	-0.25%
60 Days	2.05%	2.75%
90 Days	4.98%	-3.43%
12 Months	25.00%	28.48%

2 Overlapping Holdings

	Symbol	Grade	Weight in BEEZ	Weight in PSI	Overlap
	LRCX	F	3.76%	4.53%	3.76%
	TXN	C	3.78%	5.19%	3.78%

BEEZ Overweight 23 Positions Relative to PSI

Symbol	Grade	Weight
INTU	B	4.17%
HD	B	4.13%
ACN	B	4.11%
COST	A	4.1%
NOW	A	4.09%
CMI	A	4.08%
EW	C	4.07%
ZTS	D	4.05%
V	A	4.04%
FAST	B	4.03%
ATR	B	4.02%
WTS	B	4.02%
MA	B	4.01%
SHW	B	3.99%
EQIX	A	3.98%
ITW	B	3.98%
APD	A	3.97%
TMO	F	3.92%
AMT	C	3.91%
A	D	3.9%
MAS	D	3.87%
TSCO	D	3.86%
OLED	F	3.72%

BEEZ Underweight 24 Positions Relative to PSI

Symbol	Grade	Weight
NVDA	B	-5.76%
AVGO	D	-5.41%
MU	D	-5.25%
QCOM	F	-4.99%
ADI	D	-4.77%
AMAT	F	-4.6%
SMTC	B	-3.45%
MTSI	B	-3.39%
PI	D	-3.07%
ACMR	D	-2.88%
PLAB	C	-2.87%
ICHR	C	-2.85%
UCTT	D	-2.72%
MKSI	C	-2.62%
NXPI	D	-2.5%
ENTG	D	-2.48%
AOSL	C	-2.34%
SWKS	F	-2.24%
AMKR	D	-2.21%
ONTO	F	-2.21%
KLAC	F	-2.2%
FORM	D	-2.15%
CRUS	D	-2.03%
MPWR	F	-1.79%