DBAW vs. MFEM ETF Comparison

Comparison of db X-trackers MSCI All World ex US Hedged Equity Fund (DBAW) to PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM)

DBAW

db X-trackers MSCI All World ex US Hedged Equity Fund

DBAW Description

The investment seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI ACWI ex USA US Dollar Hedged Index. The fund, using a "passive" or indexing investment approach, attempts to approximate the investment performance of the underlying index. The underlying index is designed to provide exposure to equity securities in developed and emerging stock markets (excluding the United States), while at the same time mitigating exposure to fluctuations between the value of the U.S. dollar and selected non-U.S. currencies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$34.37

Average Daily Volume

12,784

Number of Holdings ^*

* 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 ^*

* may have additional holdings in another (foreign) market

Performance

Period	DBAW	MFEM
30 Days	-1.17%	-2.92%
60 Days	0.94%	-0.81%
90 Days	1.58%	-1.06%
12 Months	18.22%	12.05%

15 Overlapping Holdings

Symbol	Grade	Weight in DBAW	Weight in MFEM	Overlap
BCH	F	0.02%	0.16%	0.02%
BRFS	D	0.01%	0.13%	0.01%
CHT	D	0.05%	0.4%	0.05%
GGB	C	0.02%	0.15%	0.02%
KB	B	0.09%	0.42%	0.09%
KEP	B	0.02%	0.32%	0.02%
LPL	F	0.01%	0.13%	0.01%
PDD	F	0.27%	0.25%	0.25%
SBSW	D	0.01%	0.11%	0.01%
SHG	D	0.06%	0.68%	0.06%
SKM	D	0.0%	0.27%	0.0%
TME	D	0.03%	0.46%	0.03%
VALE	F	0.11%	0.54%	0.11%
VIPS	F	0.02%	0.23%	0.02%
YUMC	C	0.07%	0.1%	0.07%

DBAW Overweight 71 Positions Relative to MFEM

Symbol	Grade	Weight
NVS	D	0.71%
TM	D	0.62%
BABA	D	0.59%
HSBH	B	0.58%
UL	D	0.5%
MUFG	B	0.46%
SHOP	B	0.46%
SONY	B	0.41%
TD	F	0.34%
SMFG	B	0.31%
ABBV	D	0.31%
HDB	C	0.29%
IBN	C	0.26%
DEO	F	0.23%
MFG	B	0.21%
CNI	D	0.2%
BCS	C	0.17%
LYG	F	0.15%
HMC	F	0.14%
NU	C	0.14%
SE	B	0.13%
E	F	0.12%
TCOM	B	0.11%
STLA	F	0.1%
GOLD	D	0.1%
BIDU	F	0.09%
AER	B	0.07%
UMC	F	0.06%
RBA	A	0.06%
TEVA	D	0.06%
NMR	B	0.06%
CYBR	B	0.05%
LI	F	0.05%
CHKP	D	0.05%
XRX	F	0.05%
CCEP	C	0.05%
LOGI	D	0.04%
BEKE	D	0.04%
BAP	B	0.04%
OTEX	D	0.03%
WIT	A	0.03%
XPEV	C	0.03%
HTHT	D	0.03%
SCCO	F	0.03%
WIX	B	0.03%
GRAB	B	0.03%
BGNE	D	0.03%
QGEN	D	0.03%
MNDY	C	0.03%
ABEV	F	0.03%
FUTU	D	0.02%
XP	F	0.02%
AGCO	D	0.02%
WFG	D	0.02%
NIO	F	0.02%
ERJ	B	0.02%
ASAI	F	0.02%
DOOO	F	0.01%
ATHM	D	0.01%
CSAN	F	0.01%
STNE	F	0.01%
BVN	F	0.01%
QFIN	B	0.01%
LEGN	F	0.01%
TAL	F	0.01%
BZ	F	0.01%
MBAVU	D	0.01%
BILI	D	0.01%
GLBE	B	0.01%
IQ	F	0.0%
PAGS	F	0.0%

DBAW Underweight 8 Positions Relative to MFEM

Symbol	Grade	Weight
KT	A	-0.33%
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%