IAI vs. CMDT ETF Comparison

Comparison of iShares U.S. Broker-Dealers ETF (IAI) to PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT)

IAI

iShares U.S. Broker-Dealers ETF

IAI Description

The investment seeks to track the investment results of an index composed of U.S. equities in the investment services sector. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the index. It seeks to track the investment results of the Dow Jones U.S. Select Investment Services Index (the "underlying index"), which measures the performance of the investment services sector of the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$115.55

Average Daily Volume

165,391

Number of Holdings ^*

32

* may have additional holdings in another (foreign) market

CMDT

PIMCO Commodity Strategy Active Exchange-Traded Fund

CMDT Description

CMDT aims for total return in excess of a diversified commodity benchmark by actively managing both commodity exposure and the funds collateral. The fund primarily gains exposure through commodity swaps and futures but may also directly invest in commodities and use other commodity-linked derivatives. The fund adviser determines target allocations using proprietary quantitative models that incorporate multi-factors such as historic performance trends and storage costs. Positions established may be long, short, or no positions in the specific commodities suggested by the models. Weighting is at the discretion of the fund adviser. The fund also holds a short-duration of investment grade fixed-income securities to serve as collateral. CMDT obtains its exposure via a Cayman Islands subsidiary, thus avoiding a K-1 form to investors. The fund has a longer investment horizon, not short-term, tactical trading. Investments and returns may be different from the advisers other funds

Grade (RS Rating)

Last Trade

$27.21

Average Daily Volume

47,860

Number of Holdings ^*

1

* may have additional holdings in another (foreign) market

Performance

Period	IAI	CMDT
30 Days	1.14%	-1.75%
60 Days	3.10%	4.12%
90 Days	9.03%	5.69%
12 Months	34.34%

0 Overlapping Holdings

	Symbol	Grade	Weight in IAI	Weight in CMDT	Overlap

IAI Overweight 32 Positions Relative to CMDT

	Symbol	Grade	Weight
	GS	A	14.23%
	SPGI	C	13.66%
	MS	A	11.64%
	SCHW	A	7.54%
	CME	D	4.3%
	MCO	C	4.29%
	ICE	D	4.16%
	COIN	D	3.85%
	MSCI	D	3.82%
	RJF	B	3.76%
	NDAQ	B	3.73%
	LPLA	B	3.3%
	FDS	D	2.61%
	IBKR	A	2.03%
	TW	A	1.94%
	HOOD	C	1.41%
	SF	A	1.35%
	MKTX	F	1.26%
	MORN	D	1.22%
	JEF	B	1.21%
	HLI	A	1.1%
	EVR	C	1.04%
	LAZ	D	0.73%
	PIPR	A	0.51%
	VIRT	B	0.34%
	SNEX	A	0.34%
	PJT	C	0.34%
	DFIN	B	0.27%
	MC	D	0.23%
	BGC	A	0.21%
	RILY	C	0.11%
	LPRO	F	0.1%

IAI Underweight 1 Positions Relative to CMDT

	Symbol	Grade	Weight
	MINT	A	-7.88%

IAI: Top Represented Industries & Keywords

Industries: Capital Markets Asset Management Financial Data & Stock Exchanges Business Services Credit Services Software - Application Software - Infrastructure

Keywords: Investment Bank S&P 500 Brokerage Financial Advisory Services Investment Banking Advisory Services Exchange Traded Fund Financial Advisors Futures Exchanges Market Data Asset Management Services Banking Clearing Services Credit Default Swap Electronic Trading Financial Market Fixed Income Products Futures Exchange Hedge Funds Income Products

CMDT: Top Represented Industries & Keywords

Industries:

Keywords: Asset And Liability Management Bond Bond Fund Bond Market Debt Securities ETF Exchange Traded Fund Fixed Income Interest Rate PIMCO