PCEF vs. FCEF ETF Comparison

Comparison of PowerShares CEF Income Composite Portfolio (PCEF) to First Trust CEF Income Opportunity ETF (FCEF)

PCEF

PowerShares CEF Income Composite Portfolio

PCEF Description

The PowerShares CEF Income Composite Portfolio (Fund) is based on the S-Network Composite Closed-End Fund IndexSM (Index). The Fund will normally invest at least 90% of its total assets in securities of funds included in the Index. The Fund is a "fund of funds," as it invests its assets in the common shares of funds included in the Index rather than in individual securities. The Index currently includes closed-end funds that invest in taxable investment grade fixed-income securities, taxable high yield fixed-income securities and others utilize an equity option writing (selling) strategy. The Fund and the Index are rebalanced and reconstituted quarterly.

Grade (RS Rating)

Last Trade

$19.30

Average Daily Volume

106,779

Number of Holdings ^*

103

* may have additional holdings in another (foreign) market

FCEF

First Trust CEF Income Opportunity ETF

FCEF Description

The First Trust CEF Income Opportunity ETF is an actively managed exchange-traded fund. The Fund's investment objective is to provide current income with a secondary emphasis on total return. Under normal market conditions, the Fund will seek to achieve its investment objectives by investing at least 80% of its net assets (including investment borrowings) in a portfolio of closed-end investment companies that are listed and traded in the United States on registered exchanges.

Grade (RS Rating)

Last Trade

$21.90

Average Daily Volume

7,737

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	PCEF	FCEF
30 Days	-0.90%	-1.08%
60 Days	1.44%	1.26%
90 Days	5.49%	4.46%
12 Months	25.20%	26.32%

16 Overlapping Holdings

Symbol	Grade	Weight in PCEF	Weight in FCEF	Overlap
BCAT	C	2.46%	2.16%	2.16%
BIT	B	0.57%	0.73%	0.57%
BME	D	0.84%	0.49%	0.49%
BUI	D	0.54%	0.75%	0.54%
CII	C	1.41%	1.01%	1.01%
EVG	A	0.15%	1.47%	0.15%
HIO	A	0.56%	0.72%	0.56%
HTD	C	1.36%	3.4%	1.36%
JFR	A	1.72%	1.62%	1.62%
JPC	A	2.91%	2.43%	2.43%
JQC	A	0.91%	2.63%	0.91%
NBB	C	0.55%	0.97%	0.55%
NPFD	A	0.68%	2.2%	0.68%
PDO	D	1.37%	2.26%	1.37%
QQQX	A	2.08%	0.99%	0.99%
WIW	A	1.01%	0.5%	0.5%

PCEF Overweight 87 Positions Relative to FCEF

Symbol	Grade	Weight
EXG	C	4.45%
BIGZ	A	3.01%
BMEZ	A	2.95%
ETY	A	2.74%
BSTZ	A	2.64%
BDJ	A	2.62%
BXMX	A	2.42%
ETV	A	2.38%
NFJ	D	2.3%
BST	B	1.9%
ETW	A	1.75%
EVV	A	1.73%
BTZ	D	1.5%
EOS	A	1.39%
FPF	D	1.37%
HFRO	F	1.3%
BOE	B	1.26%
HYT	A	1.26%
FFC	D	1.23%
BBN	C	1.21%
DSL	C	1.16%
AWF	C	1.09%
BGY	D	1.02%
DIAX	B	1.01%
EOI	A	0.95%
ETJ	B	0.92%
LDP	C	0.88%
EMD	D	0.87%
PDT	D	0.76%
IGD	C	0.72%
PHK	A	0.69%
DFP	D	0.67%
BGR	B	0.64%
ETB	A	0.63%
PCN	A	0.61%
EAD	D	0.6%
PFN	A	0.56%
ISD	A	0.54%
BHK	C	0.52%
EDD	D	0.52%
BLW	A	0.52%
PPT	C	0.51%
VVR	D	0.5%
STK	C	0.48%
HIX	A	0.48%
FRA	A	0.48%
FFA	C	0.48%
BGH	A	0.46%
SPXX	A	0.46%
DSU	A	0.45%
JGH	D	0.44%
HPS	D	0.42%
ERC	D	0.42%
MCI	A	0.41%
EOD	D	0.4%
MCR	C	0.4%
TEI	D	0.39%
HPI	C	0.39%
FTF	C	0.39%
FCT	A	0.39%
MMT	A	0.39%
EFR	A	0.38%
MIN	A	0.37%
EFT	A	0.36%
PSF	D	0.36%
GBAB	D	0.35%
PHT	C	0.34%
PCF	A	0.33%
DHY	C	0.33%
HPF	C	0.33%
DHF	C	0.32%
PFL	A	0.3%
IDE	A	0.29%
FLC	C	0.29%
BGT	A	0.27%
HEQ	C	0.25%
IGA	B	0.24%
TSI	B	0.24%
DBL	D	0.23%
BGX	C	0.19%
VBF	D	0.19%
HYB	C	0.19%
NHS	D	0.18%
EHI	D	0.18%
MSD	D	0.17%
CIK	D	0.14%
PHD	A	0.14%

PCEF Underweight 29 Positions Relative to FCEF

Symbol	Grade	Weight
ETG	C	-4.05%
THQ	D	-3.5%
HQH	D	-3.44%
ASGI	A	-3.28%
ETO	C	-3.26%
EVT	C	-3.24%
SOR	A	-3.2%
VRIG	A	-3.16%
GDV	C	-2.99%
TY	A	-2.53%
RNP	D	-2.51%
UTF	C	-2.47%
BGB	A	-2.22%
CET	A	-2.04%
GAM	C	-2.02%
UTG	B	-1.85%
JRI	B	-1.47%
PEO	B	-1.43%
PDX	C	-1.23%
RA	A	-1.23%
AIO	B	-1.04%
KYN	B	-0.77%
BCX	B	-0.74%
TPZ	A	-0.52%
RMT	D	-0.51%
ARDC	B	-0.49%
JLS	A	-0.48%
HQL	D	-0.48%
DLY	C	-0.23%

PCEF: Top Represented Industries & Keywords

Industries: Asset Management Other

FCEF: Top Represented Industries & Keywords

Industries: Asset Management