FPAG vs. KBWB ETF Comparison

Comparison of FPA Global Equity ETF (FPAG) to PowerShares KBW Bank Portfolio ETF (KBWB)

FPAG

FPA Global Equity ETF

FPAG Description

Although the adviser has adopted a policy to invest at least 80% of its assets in equity securities, the adviser expects to invest, under normal circumstances, at least 95% of the fund?s assets in equity securities. The fund invests primarily in publicly traded common stocks of mid- and large-cap U.S. and non-U.S. companies, including companies in emerging market countries. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$30.98

Average Daily Volume

28,204

Number of Holdings ^*

* may have additional holdings in another (foreign) market

KBWB

PowerShares KBW Bank Portfolio ETF

KBWB Description

The PowerShares KBW Bank Portfolio (Fund) is based on the KBW Bank Index (Index). The Fund will normally invest at least 90% of its total assets in securities that comprise the Underlying Index. The Index is a float adjusted modified-market capitalization-weighted index that seeks to reflect the performance of companies that do business as banks or thrifts that are publicly-traded in the US. The Index is compiled, maintained and calculated by Keefe, Bruyette & Woods, Inc. and is composed of approximately 24 companies representing leading national money centers and regional banks or thrifts. The Fund and the Index are rebalanced and reconstituted quarterly.

Grade (RS Rating)

Last Trade

$69.54

Average Daily Volume

979,229

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FPAG	KBWB
30 Days	0.62%	11.89%
60 Days	2.00%	18.35%
90 Days	1.84%	19.89%
12 Months	23.66%	69.36%

2 Overlapping Holdings

	Symbol	Grade	Weight in FPAG	Weight in KBWB	Overlap
	C	A	4.88%	3.8%	3.8%
	WFC	A	3.66%	8.73%	3.66%

FPAG Overweight 23 Positions Relative to KBWB

Symbol	Grade	Weight
GOOGL	C	6.38%
META	D	5.35%
ADI	D	5.13%
CMCSA	B	4.78%
TEL	B	4.58%
GOOG	C	4.17%
IFF	D	3.84%
AMZN	C	3.39%
AON	A	2.69%
AVGO	D	2.26%
NXPI	D	2.21%
KMX	B	1.85%
CHTR	C	1.75%
KMI	A	1.72%
MAR	A	1.69%
FE	C	1.49%
HWM	A	1.29%
ICLR	D	1.26%
WAB	B	1.23%
UBER	F	1.16%
NFLX	A	0.66%
BABA	D	0.29%
PCG	A	0.21%

FPAG Underweight 22 Positions Relative to KBWB

Symbol	Grade	Weight
MS	A	-8.9%
GS	A	-7.94%
BAC	A	-7.9%
JPM	A	-7.51%
MTB	A	-4.3%
COF	C	-4.29%
BK	A	-3.97%
PNC	B	-3.85%
STT	B	-3.8%
FITB	B	-3.78%
HBAN	A	-3.78%
USB	A	-3.69%
TFC	A	-3.63%
RF	A	-3.52%
NTRS	A	-3.21%
CFG	B	-3.05%
KEY	B	-2.65%
EWBC	A	-2.1%
FHN	A	-1.59%
WAL	B	-1.44%
CMA	B	-1.32%
ZION	B	-1.28%