DMCY vs. HFXI ETF Comparison

Comparison of Democracy International Fund (DMCY) to IQ 50 Percent Hedged FTSE International ETF (HFXI)

DMCY

Democracy International Fund

DMCY Description

The Democracy International Fund is a Global Markets ex-United States Large & Mid Cap international equity portfolio that is both democracy and market capitalization weighted. The Democracy International Fund seeks to track the total return performance, before fees and expenses, of the Democracy Investments International Index. The intent of the Fund is to enable investors to allocate more into democracies thereby shifting capital flows toward democratic countries and away from authoritarian countries. This could lower the cost of capital and improve economic growth for democracies and the opposite for authoritarians, resulting in market-based incentives for democratic reforms.

Grade (RS Rating)

Last Trade

$25.56

Average Daily Volume

1,217

Number of Holdings ^*

* may have additional holdings in another (foreign) market

HFXI

IQ 50 Percent Hedged FTSE International ETF

HFXI Description

The investment seeks investment results that correspond generally to the price and yield performance of its underlying index, the FTSE Developed ex North America 50% Hedged to USD Index (the "underlying index"). The underlying index is an equity benchmark of international stocks from developed markets, with approximately half of the currency exposure of the securities included in the underlying index "hedged" against the U.S. dollar on a monthly basis. The fund invests, under normal circumstances, at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the securities and other instruments included in its underlying index.

Grade (RS Rating)

Last Trade

$26.53

Average Daily Volume

101,680

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	DMCY	HFXI
30 Days	-2.25%	-1.12%
60 Days	-4.85%	-2.75%
90 Days	-5.00%	-3.24%
12 Months	10.30%	13.34%

10 Overlapping Holdings

Symbol	Grade	Weight in DMCY	Weight in HFXI	Overlap
ABBV	D	0.56%	0.47%	0.47%
BCS	C	0.27%	0.24%	0.24%
DEO	F	0.33%	0.39%	0.33%
E	F	0.21%	0.2%	0.2%
FLUT	A	0.28%	0.21%	0.21%
HSBH	B	0.79%	0.85%	0.79%
LYG	F	0.27%	0.26%	0.26%
NVS	D	0.98%	1.17%	0.98%
STLA	F	0.21%	0.15%	0.15%
UL	D	0.65%	0.81%	0.65%

DMCY Overweight 12 Positions Relative to HFXI

Symbol	Grade	Weight
EWT	C	3.86%
EWJ	D	3.26%
EIS	A	0.81%
SHOP	B	0.63%
TD	F	0.52%
NXPI	D	0.39%
CNI	D	0.38%
WCN	A	0.29%
EWW	F	0.28%
VALE	F	0.11%
ICLR	D	0.1%
BNTX	D	0.04%

DMCY Underweight 18 Positions Relative to HFXI

Symbol	Grade	Weight
TM	D	-1.07%
SONY	B	-0.59%
MUFG	B	-0.58%
SMFG	B	-0.42%
MFG	B	-0.27%
HMC	F	-0.26%
SW	A	-0.14%
KB	B	-0.13%
SHG	D	-0.13%
NMR	B	-0.09%
XRX	F	-0.09%
LOGI	D	-0.08%
QGEN	D	-0.05%
AEI	D	-0.04%
AGCO	D	-0.04%
MBAVU	D	-0.03%
KEP	B	-0.03%
LPL	F	-0.0%

HFXI: Top Represented Industries & Keywords

Industries: Auto Manufacturers Banks - Global Banks - Regional - Asia Consumer Electronics Drug Manufacturers - Major Banks - Regional - Europe Beverages - Wineries & Distilleries Capital Markets Computer Systems Diagnostics & Research Farm & Construction Equipment Gambling Household & Personal Products Information Technology Services Oil & Gas Integrated Packaging & Containers Real Estate - Development Utilities - Regulated Electric