FPAG vs. KBWD ETF Comparison

Comparison of FPA Global Equity ETF (FPAG) to PowerShares KBW High Dividend Yield Financial Portfolio ETF (KBWD)

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

$28.96

Average Daily Volume

18,636

Number of Holdings ^*

* may have additional holdings in another (foreign) market

KBWD

PowerShares KBW High Dividend Yield Financial Portfolio ETF

KBWD Description

The PowerShares KBW High Dividend Yield Financial Portfolio (Fund) is based on the KBW Financial Sector Dividend Yield Index (Index). The Fund will normally invest at least 90% of its total assets in securities that comprise the Index. The Index is calculated using a dividend yield weighted methodology that seeks to reflect the performance of approximately 24 to 40 publicly listed financial companies that are principally engaged in the business of providing financial services and products, including banking, insurance and diversified financial services, in the United States. The Index may also include securities of BDCs and equity and mortgage REITs. The Fund and the Index are rebalanced and reconstituted quarterly.

Grade (RS Rating)

Last Trade

$15.40

Average Daily Volume

126,675

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FPAG	KBWD
30 Days	0.99%	1.15%
60 Days	4.51%	2.81%
90 Days	7.29%	8.04%
12 Months	28.39%	23.44%

0 Overlapping Holdings

	Symbol	Grade	Weight in FPAG	Weight in KBWD	Overlap

FPAG Overweight 25 Positions Relative to KBWD

Symbol	Grade	Weight
GOOGL	B	6.38%
META	D	5.35%
ADI	A	5.13%
C	A	4.88%
CMCSA	D	4.78%
TEL	C	4.58%
GOOG	B	4.17%
IFF	A	3.84%
WFC	A	3.66%
AMZN	A	3.39%
AON	F	2.69%
AVGO	C	2.26%
NXPI	A	2.21%
KMX	D	1.85%
CHTR	F	1.75%
KMI	A	1.72%
MAR	D	1.69%
FE	A	1.49%
HWM	A	1.29%
ICLR	D	1.26%
WAB	A	1.23%
UBER	D	1.16%
NFLX	C	0.66%
BABA	C	0.29%
PCG	B	0.21%

FPAG Underweight 32 Positions Relative to KBWD

Symbol	Grade	Weight
RILY	C	-5.54%
EFC	B	-3.91%
FSK	B	-3.64%
AGNC	C	-3.51%
TRIN	B	-3.48%
FDUS	B	-3.32%
RC	D	-3.27%
TRTX	A	-3.15%
PNNT	A	-3.13%
GSBD	A	-3.04%
PSEC	F	-2.99%
ACRE	F	-2.97%
DX	C	-2.92%
TCPC	C	-2.9%
ARI	F	-2.87%
TPVG	F	-2.66%
KREF	F	-2.44%
BBDC	B	-2.44%
OMF	B	-2.2%
WASH	B	-2.09%
FIBK	B	-1.77%
WU	C	-1.7%
LNC	C	-1.6%
NWBI	C	-1.58%
JXN	A	-1.56%
APAM	C	-1.48%
EGBN	F	-1.45%
KEY	C	-1.43%
JHG	A	-1.22%
PRU	A	-1.18%
NYCB	D	-0.59%
CSWC	A	-0.06%