FPAG vs. PPA ETF Comparison

Comparison of FPA Global Equity ETF (FPAG) to PowerShares Aerospace & Defense (PPA)

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

PPA

PowerShares Aerospace & Defense

PPA Description

The PowerShares Aerospace & Defense Portfolio (Fund) is based on the SPADEâ¢ Defense Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to identify a group of companies involved in the development, manufacturing, operations and support of US defense, homeland security and aerospace operations. The Fund and the Index are rebalanced and reconstituted quarterly.

Grade (RS Rating)

Last Trade

$120.02

Average Daily Volume

180,829

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FPAG	PPA
30 Days	0.62%	2.32%
60 Days	2.00%	5.72%
90 Days	1.84%	7.74%
12 Months	23.66%	38.58%

1 Overlapping Holdings

	Symbol	Grade	Weight in FPAG	Weight in PPA	Overlap
	HWM	A	1.29%	4.44%	1.29%

FPAG Overweight 24 Positions Relative to PPA

Symbol	Grade	Weight
GOOGL	C	6.38%
META	D	5.35%
ADI	D	5.13%
C	A	4.88%
CMCSA	B	4.78%
TEL	B	4.58%
GOOG	C	4.17%
IFF	D	3.84%
WFC	A	3.66%
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%
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 47 Positions Relative to PPA

Symbol	Grade	Weight
RTX	D	-7.09%
GE	D	-6.71%
LMT	D	-6.64%
BA	F	-6.23%
NOC	D	-5.36%
GD	D	-4.93%
HON	C	-4.88%
AXON	A	-4.43%
PH	A	-4.28%
LHX	C	-4.07%
TDG	D	-3.35%
ETN	A	-3.16%
PLTR	B	-2.72%
LDOS	C	-2.05%
BAH	F	-1.92%
APH	A	-1.91%
HEI	A	-1.83%
TXT	D	-1.74%
CW	C	-1.37%
BWXT	B	-1.36%
CACI	D	-1.26%
HII	F	-1.07%
WWD	C	-0.92%
TDY	B	-0.91%
KBR	F	-0.88%
AVAV	C	-0.84%
ATI	C	-0.81%
SAIC	F	-0.71%
HXL	F	-0.66%
MOG.A	B	-0.66%
KEYS	A	-0.62%
PSN	D	-0.61%
KTOS	B	-0.56%
RKLB	A	-0.56%
SPR	D	-0.51%
AIR	B	-0.35%
MRCY	C	-0.35%
OSK	C	-0.29%
OSIS	A	-0.27%
TGI	B	-0.2%
B	A	-0.19%
IRDM	D	-0.17%
CDRE	F	-0.16%
TTMI	C	-0.16%
DCO	C	-0.14%
AI	B	-0.13%
VSAT	F	-0.1%