CEFS vs. XSHQ ETF Comparison

Comparison of Exchange Listed Funds Trust ETF (CEFS) to PowerShares S&P SmallCap Quality Portfolio (XSHQ)

CEFS

Exchange Listed Funds Trust ETF

CEFS Description

The investment seeks to provide capital appreciation and dividend income. The fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by normally investing at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities issued by closed-end funds (the "underlying funds"). The advisor expects to invest in underlying funds operated by a diversified group of closed-end fund managers ("underlying fund managers"). The fund normally invests in underlying funds that primarily pursue high yield opportunities.

Grade (RS Rating)

Last Trade

$22.18

Average Daily Volume

47,773

Number of Holdings ^*

* may have additional holdings in another (foreign) market

XSHQ

PowerShares S&P SmallCap Quality Portfolio

XSHQ Description

The PowerShares S&P SmallCap Quality Portfolio (the "Fund") is based on the S&P SmallCap 600 Quality Index (Index). The Fund will invest at least 90% of its total assets in securities that comprise the Index. The Index is composed of 120 securities in the S&P SmallCap 600 Index that have the highest quality score, which is calculated based on the average of three fundamental measures: return on equity, accruals ratio and financial leverage ratio. The Fund and the Index are rebalanced and reconstituted semi-annually on the third Friday of June and December.

Grade (RS Rating)

Last Trade

$46.79

Average Daily Volume

59,139

Number of Holdings ^*

114

* may have additional holdings in another (foreign) market

Performance

Period	CEFS	XSHQ
30 Days	0.77%	9.25%
60 Days	1.28%	9.27%
90 Days	4.04%	11.08%
12 Months	29.31%	30.19%

0 Overlapping Holdings

	Symbol	Grade	Weight in CEFS	Weight in XSHQ	Overlap

CEFS Overweight 89 Positions Relative to XSHQ

Symbol	Grade	Weight
BIGZ	A	16.16%
GDV	A	8.03%
PDX	A	8.02%
ASA	D	7.98%
ADX	C	5.7%
BCAT	A	4.77%
BFZ	D	4.65%
NFJ	B	4.6%
GAM	A	4.11%
ASGI	C	3.88%
ENX	B	3.59%
BSTZ	A	3.54%
EVM	C	2.95%
NQP	D	2.81%
NXJ	D	2.75%
HQL	F	2.62%
BOE	B	2.55%
MHI	D	2.15%
BMEZ	D	1.98%
HQH	D	1.85%
GRX	D	1.73%
AFB	D	1.68%
MAV	C	1.6%
TEAF	D	1.57%
BGY	B	1.37%
LGI	C	1.34%
NTG	A	1.26%
IIF	D	1.25%
ECF	B	1.23%
EMO	A	1.2%
VPV	B	1.19%
KSM	F	1.06%
AOD	D	0.98%
BCX	C	0.97%
LEO	D	0.95%
VTN	B	0.81%
EDD	D	0.79%
NBH	D	0.7%
JOF	F	0.66%
IHD	D	0.63%
GF	F	0.61%
PGZ	C	0.61%
DSM	D	0.5%
HYB	A	0.45%
CEV	D	0.4%
QQQX	B	0.37%
NDP	A	0.37%
GLQ	C	0.36%
CXE	D	0.36%
BGR	A	0.36%
BCV	B	0.3%
DMB	C	0.28%
FMN	F	0.25%
EOD	C	0.24%
PEO	C	0.23%
CPZ	C	0.22%
TWN	D	0.21%
PCK	D	0.21%
RA	B	0.17%
GNT	C	0.17%
TTP	A	0.17%
VMO	D	0.16%
MPA	D	0.11%
AGD	D	0.11%
FGB	C	0.09%
SWZ	F	0.08%
ERH	C	0.08%
TYG	A	0.07%
NML	A	0.05%
VGM	D	0.04%
GLO	D	0.04%
GLV	D	0.03%
HEQ	B	0.03%
PNI	D	0.02%
KYN	A	0.02%
DIAX	A	0.02%
MYN	C	0.01%
MFM	D	0.01%
BTT	D	0.01%
MXE	F	0.01%
MUJ	C	0.0%
BHV	C	0.0%
MIY	C	0.0%
NAC	C	0.0%
VFL	D	0.0%
BNY	D	0.0%
RMT	B	0.0%
MHN	C	0.0%
MUC	C	0.0%

CEFS Underweight 114 Positions Relative to XSHQ

Symbol	Grade	Weight
MLI	C	-4.25%
JXN	C	-3.19%
AWI	A	-2.57%
KTB	B	-2.13%
APAM	B	-2.07%
BMI	B	-1.98%
PJT	A	-1.92%
CORT	B	-1.92%
ALKS	B	-1.92%
JBT	B	-1.8%
IBP	D	-1.74%
LNC	B	-1.71%
BCC	B	-1.64%
FSS	B	-1.6%
FTDR	A	-1.58%
WDFC	B	-1.58%
SIG	B	-1.51%
BCPC	B	-1.46%
POWL	C	-1.44%
CEIX	A	-1.4%
SM	B	-1.36%
RDN	C	-1.33%
IDCC	A	-1.33%
AX	A	-1.32%
MHO	D	-1.3%
FELE	B	-1.26%
CRVL	A	-1.24%
AGO	B	-1.21%
CNS	B	-1.2%
ASO	F	-1.15%
FBP	B	-1.14%
AGYS	A	-1.14%
TBBK	B	-1.11%
GMS	B	-1.1%
BRC	D	-1.08%
AMR	C	-1.06%
ARCH	B	-1.05%
DORM	B	-1.03%
HP	B	-1.02%
CATY	B	-0.98%
AEO	F	-0.98%
NMIH	D	-0.94%
OTTR	C	-0.89%
LCII	C	-0.85%
EPAC	B	-0.85%
PAYO	A	-0.84%
SHOO	D	-0.84%
UE	C	-0.81%
PATK	D	-0.79%
PLMR	B	-0.78%
IOSP	B	-0.77%
CASH	A	-0.74%
ROCK	C	-0.71%
APOG	B	-0.7%
BKE	B	-0.7%
YELP	C	-0.7%
OFG	B	-0.61%
IPAR	B	-0.61%
SXI	B	-0.6%
PRG	C	-0.59%
HWKN	B	-0.58%
WOR	F	-0.58%
CENX	B	-0.58%
DFIN	D	-0.56%
ANDE	D	-0.55%
CHCO	B	-0.54%
TNC	D	-0.54%
MCY	A	-0.54%
WS	B	-0.53%
WABC	B	-0.52%
CENTA	C	-0.52%
KLG	C	-0.52%
BANF	B	-0.51%
LKFN	B	-0.51%
ASTH	D	-0.5%
GIII	D	-0.49%
NHC	C	-0.48%
AMWD	C	-0.47%
GRBK	D	-0.47%
FIZZ	C	-0.45%
CSGS	B	-0.44%
WT	B	-0.44%
PLAB	C	-0.43%
DNOW	B	-0.43%
VRTS	B	-0.43%
PDCO	D	-0.43%
TILE	B	-0.42%
ATEN	B	-0.42%
AMSF	B	-0.41%
PFBC	B	-0.4%
GDEN	B	-0.39%
STAA	F	-0.39%
COLL	F	-0.38%
LNN	B	-0.37%
HRMY	D	-0.37%
CAL	D	-0.36%
EIG	B	-0.36%
WNC	C	-0.35%
MCRI	A	-0.35%
OXM	D	-0.35%
HCI	C	-0.31%
LPG	F	-0.31%
JBSS	D	-0.29%
REX	D	-0.27%
MNRO	D	-0.23%
PCRX	C	-0.22%
IIIN	C	-0.22%
CVI	F	-0.18%
LQDT	B	-0.16%
SLP	D	-0.14%
RES	D	-0.13%
GES	F	-0.12%
NPK	B	-0.11%
USNA	C	-0.11%

CEFS: Top Represented Industries & Keywords

Industries: Asset Management Other