PFM vs. ACWV ETF Comparison

Comparison of PowerShares Dividend Achievers (PFM) to iShares MSCI All Country World Minimum Volatility Index Fund (ACWV)

PFM

PowerShares Dividend Achievers

PFM Description

The PowerShares Dividend AchieversTM Portfolio (Fund) seeks to replicate, before fees and expenses, the NASDAQ US Broad Dividend AchieversTM Index (Index), which is designed to identify a diversified group of dividend-paying companies. The Fund will normally invest at least 90% of its total assets in dividend paying common stocks that comprise Index. These companies have increased their annual dividend for 10 or more consecutive fiscal years. The Fund and the Index are reconstituted annually in January and rebalanced quarterly in January, April, July and October. Effective December 28, 2012, the NADAQ OMX Group, Inc., replaced Mergent, Inc., as the Index Provider of the Index. Effective February 25, 2013, the name of the Index changed from Broad Dividend Achievers Index to NASDAQ US Broad Dividend Achievers Index. There will be no change to the methodology by which NASDAQ OMX Group, Inc., the Index Provider, calculates the Index. Please see the Fund’s prospectus supplement for more information. On February 25, 2013, NASDAQ took the place of the NYSE as the official Index data source.

Grade (RS Rating)

Last Trade

$47.68

Average Daily Volume

24,412

Number of Holdings ^*

416

* may have additional holdings in another (foreign) market

ACWV

iShares MSCI All Country World Minimum Volatility Index Fund

ACWV Description

The investment seeks to track the investment results of an index composed of developed and emerging market equities that, in the aggregate, have lower volatility characteristics relative to the broader developed and emerging equity markets. The fund generally invests at least 90% of its assets in securities of the underlying index or in depositary receipts representing securities in the underlying index. It seeks to track the underlying index, which has been developed by MSCI Inc. ("MSCI") to measure the combined performance of equity securities in both emerging and developed markets that in aggregate have lower volatility. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$113.95

Average Daily Volume

117,990

Number of Holdings ^*

139

* may have additional holdings in another (foreign) market

Performance

Period	PFM	ACWV
30 Days	2.19%	0.32%
60 Days	2.87%	-0.25%
90 Days	5.56%	1.23%
12 Months	26.89%	18.77%

69 Overlapping Holdings

Symbol	Grade	Weight in PFM	Weight in ACWV	Overlap
ABBV	D	1.27%	0.49%	0.49%
ABT	B	0.88%	0.1%	0.1%
ACN	C	0.95%	0.26%	0.26%
AEE	A	0.11%	0.11%	0.11%
AEP	D	0.22%	0.07%	0.07%
AIZ	A	0.05%	0.13%	0.05%
AJG	B	0.28%	0.33%	0.28%
AMGN	D	0.65%	0.34%	0.34%
AON	A	0.36%	0.35%	0.35%
APH	A	0.37%	0.54%	0.37%
BAH	F	0.08%	0.37%	0.08%
BDX	F	0.28%	0.22%	0.22%
BMY	B	0.5%	0.25%	0.25%
BRO	B	0.13%	0.3%	0.13%
CAH	B	0.13%	0.18%	0.13%
CB	C	0.5%	0.88%	0.5%
CBOE	B	0.09%	0.54%	0.09%
CHD	B	0.12%	0.46%	0.12%
CHRW	C	0.06%	0.06%	0.06%
CL	D	0.33%	0.35%	0.33%
CME	A	0.35%	0.23%	0.23%
CMS	C	0.09%	0.16%	0.09%
COR	B	0.21%	1.05%	0.21%
CSCO	B	1.0%	1.57%	1.0%
DGX	A	0.08%	0.15%	0.08%
DPZ	C	0.07%	0.19%	0.07%
DUK	C	0.38%	0.81%	0.38%
ED	D	0.14%	0.84%	0.14%
ELV	F	0.4%	0.42%	0.4%
ERIE	D	0.08%	0.26%	0.08%
GD	F	0.34%	0.18%	0.18%
GPC	D	0.07%	0.05%	0.05%
HRL	D	0.07%	0.23%	0.07%
HSY	F	0.11%	0.44%	0.11%
HUM	C	0.14%	0.31%	0.14%
IBM	C	0.83%	0.73%	0.73%
JKHY	D	0.05%	0.2%	0.05%
JNJ	D	1.61%	1.05%	1.05%
KMB	D	0.2%	0.3%	0.2%
KO	D	1.15%	0.05%	0.05%
KR	B	0.18%	0.83%	0.18%
LMT	D	0.55%	0.23%	0.23%
MA	C	2.06%	0.19%	0.19%
MCD	D	0.9%	1.02%	0.9%
MCK	B	0.34%	1.42%	0.34%
MDLZ	F	0.37%	0.25%	0.25%
MMC	B	0.48%	0.88%	0.48%
MRK	F	1.06%	1.06%	1.06%
MSFT	F	3.91%	0.76%	0.76%
MSI	B	0.35%	1.88%	0.35%
NOC	D	0.31%	0.77%	0.31%
ORCL	B	2.21%	0.54%	0.54%
PEP	F	0.94%	1.08%	0.94%
PG	A	1.73%	0.82%	0.82%
ROP	B	0.26%	1.36%	0.26%
RSG	A	0.28%	1.19%	0.28%
SJM	D	0.05%	0.27%	0.05%
SO	D	0.42%	0.8%	0.42%
TRV	B	0.26%	0.32%	0.26%
TSN	B	0.08%	0.32%	0.08%
UNH	C	2.35%	0.83%	0.83%
V	A	2.25%	0.59%	0.59%
VZ	C	0.77%	0.76%	0.76%
WEC	A	0.13%	0.68%	0.13%
WM	A	0.38%	1.5%	0.38%
WMT	A	2.92%	1.82%	1.82%
WRB	A	0.1%	0.41%	0.1%
XEL	A	0.17%	0.11%	0.11%
XOM	B	2.31%	0.1%	0.1%

PFM Overweight 347 Positions Relative to ACWV

Symbol	Grade	Weight
AAPL	C	3.9%
AVGO	D	3.32%
JPM	A	3.01%
COST	B	1.76%
HD	A	1.76%
BAC	A	1.56%
CVX	A	1.27%
MS	A	0.94%
LIN	D	0.93%
PM	B	0.88%
TXN	C	0.82%
INTU	C	0.82%
CAT	B	0.81%
GS	A	0.8%
QCOM	F	0.79%
DHR	F	0.72%
CMCSA	B	0.72%
RTX	C	0.69%
NEE	D	0.68%
SPGI	C	0.68%
BLK	C	0.67%
LOW	D	0.66%
SYK	C	0.64%
HON	B	0.64%
ETN	A	0.62%
UNP	C	0.62%
PFE	D	0.61%
ADP	B	0.53%
SBUX	A	0.49%
MDT	D	0.48%
PLD	D	0.46%
ADI	D	0.45%
UPS	C	0.43%
SHW	A	0.41%
MO	A	0.41%
TT	A	0.4%
AMT	D	0.4%
NKE	D	0.39%
ICE	C	0.39%
CTAS	B	0.38%
MCO	B	0.37%
KLAC	D	0.36%
ZTS	D	0.35%
ITW	B	0.35%
PNC	B	0.35%
USB	A	0.34%
APD	A	0.32%
EMR	A	0.32%
MMM	D	0.31%
TGT	F	0.31%
ECL	D	0.3%
CSX	B	0.29%
EPD	A	0.29%
TFC	A	0.27%
AFL	B	0.27%
GWW	B	0.25%
BK	A	0.25%
MET	A	0.25%
SRE	A	0.25%
PSX	C	0.24%
AMP	A	0.24%
ALL	A	0.23%
PAYX	C	0.22%
MPLX	A	0.21%
O	D	0.21%
CMI	A	0.21%
PRU	A	0.2%
LHX	C	0.2%
NDAQ	A	0.2%
FAST	B	0.2%
DFS	B	0.19%
PEG	A	0.19%
GLW	B	0.17%
HPQ	B	0.16%
A	D	0.16%
VMC	B	0.16%
SYY	B	0.16%
RJF	A	0.15%
HIG	B	0.15%
EXR	D	0.15%
MCHP	D	0.15%
RMD	C	0.15%
NUE	C	0.15%
FITB	A	0.14%
ROK	B	0.14%
EIX	B	0.14%
TSCO	D	0.13%
XYL	D	0.13%
BR	A	0.12%
LYB	F	0.12%
DOV	A	0.12%
PPG	F	0.12%
STT	A	0.12%
DTE	C	0.11%
ADM	D	0.11%
AWK	D	0.11%
TROW	B	0.11%
ES	D	0.1%
WST	C	0.1%
ATO	A	0.1%
CINF	A	0.1%
HUBB	B	0.1%
CDW	F	0.1%
RF	A	0.1%
CSL	C	0.09%
PFG	D	0.09%
CLX	B	0.09%
PKG	A	0.09%
STE	F	0.09%
STLD	B	0.09%
LII	A	0.09%
RPM	A	0.08%
KEY	B	0.08%
ARE	D	0.08%
FDS	B	0.08%
WSO	A	0.08%
MAA	B	0.08%
MKC	D	0.08%
SNA	A	0.08%
JBHT	C	0.08%
BBY	D	0.08%
ESS	B	0.08%
GGG	B	0.07%
RGA	A	0.07%
LNT	A	0.07%
AVY	D	0.07%
FIX	A	0.07%
WLK	D	0.07%
NI	A	0.07%
FNF	B	0.07%
WSM	B	0.07%
MAS	D	0.07%
RS	B	0.07%
EXPD	D	0.07%
IEX	B	0.07%
ELS	C	0.06%
SWK	D	0.06%
UNM	A	0.06%
REG	B	0.06%
POOL	C	0.06%
RNR	C	0.06%
MORN	B	0.06%
NDSN	B	0.06%
UDR	B	0.06%
EVRG	A	0.06%
HEI	B	0.06%
CASY	A	0.06%
SEIC	B	0.05%
WTRG	B	0.05%
CUBE	D	0.05%
ATR	B	0.05%
EVR	B	0.05%
BEN	C	0.05%
RRX	B	0.05%
AFG	A	0.05%
LECO	B	0.05%
EMN	D	0.05%
ALB	C	0.05%
ITT	A	0.05%
SCI	B	0.05%
ENSG	D	0.04%
EGP	F	0.04%
CHE	D	0.04%
TTC	D	0.04%
OGE	B	0.04%
ZION	B	0.04%
AOS	F	0.04%
WTFC	A	0.04%
CFR	B	0.04%
INGR	B	0.04%
DCI	B	0.04%
REXR	F	0.04%
CBSH	A	0.04%
RGLD	C	0.04%
AES	F	0.04%
ORI	A	0.04%
GL	B	0.04%
MKTX	D	0.04%
LAD	A	0.04%
AIT	A	0.04%
CHDN	B	0.04%
PRI	A	0.04%
PNW	B	0.04%
IPG	D	0.04%
THG	A	0.03%
TRNO	F	0.03%
THO	B	0.03%
FFIN	B	0.03%
UMBF	B	0.03%
SIGI	C	0.03%
LFUS	F	0.03%
IDA	A	0.03%
CBT	C	0.03%
HOMB	A	0.03%
BMI	B	0.03%
STAG	F	0.03%
MSA	D	0.03%
FAF	A	0.03%
CADE	B	0.03%
FR	C	0.03%
AGCO	D	0.03%
R	B	0.03%
OSK	B	0.03%
AXS	A	0.03%
WBA	F	0.03%
BOKF	B	0.03%
SSD	D	0.03%
ADC	B	0.03%
RHI	B	0.03%
HII	D	0.03%
NNN	D	0.03%
PB	A	0.03%
SSB	B	0.03%
UFPI	B	0.03%
RLI	B	0.03%
WSFS	A	0.02%
CBU	B	0.02%
PRGO	B	0.02%
SR	A	0.02%
PII	D	0.02%
MGEE	C	0.02%
GFF	A	0.02%
AUB	B	0.02%
MDU	D	0.02%
CCOI	B	0.02%
WDFC	B	0.02%
ASH	D	0.02%
BANF	B	0.02%
ASB	B	0.02%
FUL	F	0.02%
CNO	A	0.02%
BKH	A	0.02%
IBOC	A	0.02%
AVNT	B	0.02%
FLO	D	0.02%
POR	C	0.02%
KAI	A	0.02%
NJR	A	0.02%
AVT	C	0.02%
EXPO	D	0.02%
FELE	B	0.02%
LANC	C	0.02%
SON	D	0.02%
CNS	B	0.02%
NXST	C	0.02%
AGO	B	0.02%
UGI	A	0.02%
TKR	D	0.02%
MATX	C	0.02%
AL	B	0.02%
GATX	A	0.02%
DDS	B	0.02%
OZK	B	0.02%
BC	C	0.02%
SWX	B	0.02%
UBSI	B	0.02%
BCPC	B	0.02%
WTS	B	0.02%
NFG	A	0.02%
SLGN	A	0.02%
MSEX	B	0.01%
GABC	B	0.01%
TR	B	0.01%
UVV	B	0.01%
LNN	B	0.01%
WABC	B	0.01%
NWN	A	0.01%
CSGS	B	0.01%
TCBK	B	0.01%
STBA	B	0.01%
SRCE	B	0.01%
ANDE	D	0.01%
TNC	D	0.01%
HMN	B	0.01%
DKL	C	0.01%
SCL	C	0.01%
GTY	B	0.01%
SJW	D	0.01%
APOG	B	0.01%
LKFN	B	0.01%
NHC	C	0.01%
CHCO	B	0.01%
AGM	C	0.01%
WOR	F	0.01%
WSBC	A	0.01%
SYBT	B	0.01%
HI	C	0.01%
NBTB	B	0.01%
LMAT	A	0.01%
MTRN	C	0.01%
SXI	B	0.01%
HNI	B	0.01%
FRME	B	0.01%
TOWN	B	0.01%
HWKN	B	0.01%
NSP	D	0.01%
ABR	C	0.01%
CPK	A	0.01%
CWT	D	0.01%
WAFD	B	0.01%
IOSP	B	0.01%
MAN	D	0.01%
AVA	A	0.01%
INDB	B	0.01%
SFNC	B	0.01%
TRN	C	0.01%
KWR	C	0.01%
AWR	B	0.01%
BRC	D	0.01%
JJSF	B	0.01%
OTTR	C	0.01%
NWE	B	0.01%
POWI	D	0.01%
FIBK	A	0.01%
ABM	B	0.01%
JOUT	D	0.0%
FLIC	B	0.0%
ARTNA	D	0.0%
HVT	D	0.0%
ODC	C	0.0%
BMRC	B	0.0%
CTO	B	0.0%
YORW	D	0.0%
AROW	B	0.0%
UHT	D	0.0%
THFF	B	0.0%
PLOW	D	0.0%
HIFS	B	0.0%
CASS	B	0.0%
SPTN	D	0.0%
WASH	C	0.0%
MATW	C	0.0%
GSBC	B	0.0%
SMBC	B	0.0%
HY	D	0.0%
MBWM	B	0.0%
HBNC	B	0.0%
MNRO	D	0.0%
FCBC	B	0.0%
HFWA	B	0.0%
SCVL	F	0.0%
PFC	A	0.0%
GRC	A	0.0%
SBSI	B	0.0%
CTBI	B	0.0%
TMP	B	0.0%
AMSF	B	0.0%

PFM Underweight 70 Positions Relative to ACWV

Symbol	Grade	Weight
TMUS	B	-2.03%
VRTX	F	-1.13%
BRK.A	B	-0.91%
PGR	A	-0.84%
AZO	C	-0.77%
GDDY	A	-0.64%
EA	A	-0.63%
ORLY	B	-0.62%
REGN	F	-0.61%
GIS	D	-0.61%
K	A	-0.57%
ACGL	D	-0.57%
LLY	F	-0.52%
GILD	C	-0.48%
FI	A	-0.48%
MKL	A	-0.43%
KEYS	A	-0.41%
L	A	-0.4%
UTHR	C	-0.4%
WCN	A	-0.39%
INCY	C	-0.38%
CHT	D	-0.37%
TJX	A	-0.37%
KDP	D	-0.36%
FFIV	B	-0.36%
VRSN	F	-0.35%
KHC	F	-0.33%
JNPR	F	-0.32%
NBIX	C	-0.31%
GEN	B	-0.3%
AKAM	D	-0.27%
T	A	-0.26%
CF	B	-0.25%
CI	F	-0.24%
YUM	B	-0.24%
FCNCA	A	-0.23%
FWONK	B	-0.22%
PTC	A	-0.22%
CPB	D	-0.22%
CTSH	B	-0.21%
ROL	B	-0.21%
MFG	B	-0.21%
BMRN	D	-0.19%
LNG	B	-0.16%
ULTA	F	-0.16%
MPC	D	-0.15%
WIT	A	-0.12%
CTVA	C	-0.12%
MOH	F	-0.12%
FICO	B	-0.12%
MNST	C	-0.12%
AZPN	A	-0.11%
TDY	B	-0.11%
EG	C	-0.1%
WTW	B	-0.1%
WDAY	B	-0.1%
PCG	A	-0.1%
TPL	A	-0.1%
NEM	D	-0.09%
TRGP	B	-0.08%
IT	C	-0.07%
KNX	B	-0.06%
ANET	C	-0.06%
DINO	D	-0.06%
FANG	D	-0.06%
CAG	D	-0.05%
HOLX	D	-0.05%
ACI	C	-0.05%
HSIC	B	-0.05%
HKD	F	-0.0%