PIO vs. PBDC ETF Comparison

Comparison of PowerShares Global Water Portfolio (PIO) to Putnam BDC Income ETF (PBDC)

PIO

PowerShares Global Water Portfolio

PIO Description

The PowerShares Global Water Portfolio (Fund) is based on the NASDAQ OMX Global Water Index. The Fund generally will invest at least 90% of its total assets in companies listed on a global exchange that create products designed to conserve and purify water for homes, businesses and industries. The Fund and the Index are rebalanced quarterly and reconstituted annually in April.

Grade (RS Rating)

Last Trade

$41.28

Average Daily Volume

9,751

Number of Holdings ^*

12

* may have additional holdings in another (foreign) market

PBDC

Putnam BDC Income ETF

PBDC Description

Putnam BDC Income ETF is an exchange traded fund launched and managed by Putnam Investment Management, LLC. The fund is co-managed by Putnam Investments Limited. It invests in the public equity markets of the United States. The fund invests in stocks of companies operating across business development companies sectors. The fund invests in growth and value stocks of companies across diversified market capitalization. Putnam BDC Income ETF is domiciled in the United States.

Grade (RS Rating)

Last Trade

$34.19

Average Daily Volume

40,039

Number of Holdings ^*

15

* may have additional holdings in another (foreign) market

Performance

Period	PIO	PBDC
30 Days	0.73%	1.79%
60 Days	-2.57%	1.15%
90 Days	-1.88%	3.23%
12 Months	16.16%	17.79%

0 Overlapping Holdings

	Symbol	Grade	Weight in PIO	Weight in PBDC	Overlap

PIO Overweight 12 Positions Relative to PBDC

	Symbol	Grade	Weight
	PNR	A	9.8%
	ROP	B	8.36%
	ECL	D	8.03%
	WAT	B	3.76%
	XYL	D	3.62%
	VLTO	D	3.58%
	AWK	D	2.95%
	IEX	B	2.91%
	CNM	D	2.64%
	WMS	D	1.91%
	AOS	F	1.72%
	CWCO	C	0.25%

PIO Underweight 15 Positions Relative to PBDC

	Symbol	Grade	Weight
	ARCC	A	-12.06%
	BXSL	A	-10.26%
	MAIN	A	-9.38%
	HTGC	D	-6.84%
	FSK	A	-6.36%
	GBDC	C	-5.9%
	TSLX	C	-5.18%
	BCSF	C	-4.21%
	CCAP	A	-4.11%
	CION	C	-3.63%
	CSWC	D	-3.44%
	BBDC	A	-2.68%
	TRIN	A	-2.47%
	NMFC	D	-2.32%
	FDUS	A	-2.01%

PIO: Top Represented Industries & Keywords

Industries: Diversified Industrials Utilities - Regulated Water Diagnostics & Research Industrial Distribution Pollution & Treatment Controls Rubber & Plastics Specialty Chemicals

Keywords: S&P 500 Chemical Irrigation Water Water Treatment Beverage Boiler Chemical Process Chemical Processing Construction Dover Corporation Drug Discovery Electronics Injector Mining Pharmaceutical Plastic Plumbing Sanitation Sewerage

PBDC: Top Represented Industries & Keywords

Industries: Asset Management Credit Services Specialty Finance

Keywords: Private Equity Business Development Mezzanine Capital Venture Capital Credit Loan Business Development Company Golub Capital Refinancing Debt Healthcare Service Leveraged Buyout Second Lien Loan Subordinated Debt Aerospace Bankruptcy Chemical Consumer Products Debt Financing Entrepreneurship