PSP vs. HIPS ETF Comparison

Comparison of PowerShares Listed Private Equity (PSP) to Master Income ETF (HIPS)
PSP

PowerShares Listed Private Equity

PSP Description

The PowerShares Global Listed Private Equity Portfolio (Fund) is based on the Red Rocks Global Listed Private Equity Index (Index). The Fund will normally invest at least 90% of its total assets in securities, which may include American depository receipts and global depository receipts, that comprise the Index. The Index includes securities, ADRs and GDRs of 40 to 75 private equity companies, including business development companies (BDCs), master limited partnerships (MLPs) and other vehicles whose principal business is to invest in, lend capital to or provide services to privately held companies (collectively, listed private equity companies). The Fund and the Index are rebalanced and reconstituted quarterly.

Grade (RS Rating)

Last Trade

$67.28

Average Daily Volume

12,661

Number of Holdings *

26

* may have additional holdings in another (foreign) market
HIPS

Master Income ETF

HIPS Description The Master Income ETF seeks to track the total return performance, before fees and expenses, of the TFMS HIPS 300 Index. The Index is constructed to capture 300 high income securities, typically with pass-through structures, across the following sectors: (i) closed-end funds (“CEFs”), (ii) mortgage real estate investment trusts (“REITs”), (iii) commercial equity REITs, (iv) residential/diversified REITs, (v) asset management and business development companies (“BDCs”), and (vi) energy production and energy transportation & processing companies. Energy-related companies included in the Index are expected to primarily be structured as master limited partnerships (“MLPs”). CEFs included in the Index are limited to taxable, debt-based funds and may include CEFs that invest primarily in bank loans, high-yield securities (also known as “junk bonds”), foreign securities (including those in emerging markets), and mortgage- or asset-backed securities. The Index is constituted using proprietary methodology developed by Trust and Fiduciary Management Services, Inc. The Index Provider determines the relative weightings of the securities in the Index and publishes information regarding the market value of the Index.

Grade (RS Rating)

Last Trade

$12.70

Average Daily Volume

37,095

Number of Holdings *

37

* may have additional holdings in another (foreign) market
Performance
Period PSP HIPS
30 Days -0.18% -0.78%
60 Days 3.71% -0.56%
90 Days 10.94% 1.91%
12 Months 49.98% 19.48%
7 Overlapping Holdings
Symbol Grade Weight in PSP Weight in HIPS Overlap
ARCC B 3.15% 2.71% 2.71%
BXSL A 0.73% 2.63% 0.73%
FSK B 0.95% 2.58% 0.95%
GBDC B 0.73% 2.55% 0.73%
GSBD D 0.22% 2.31% 0.22%
NMFC F 0.22% 2.27% 0.22%
SLRC B 0.23% 2.58% 0.23%
PSP Overweight 19 Positions Relative to HIPS
Symbol Grade Weight
TPG A 6.17%
BX B 5.4%
KKR B 5.38%
CG B 4.64%
OWL B 4.0%
HLNE B 2.8%
STEP B 2.44%
GHC A 1.21%
IAC F 1.18%
BBUC B 1.08%
CODI C 0.7%
PX B 0.51%
MAIN A 0.49%
HTGC B 0.49%
CNNE A 0.46%
CSWC D 0.24%
TSLX C 0.23%
BCSF A 0.23%
BBDC C 0.23%
PSP Underweight 30 Positions Relative to HIPS
Symbol Grade Weight
BGX C -2.79%
JQC A -2.76%
JFR A -2.73%
GTY C -2.65%
EFT A -2.63%
FCT A -2.63%
ALX D -2.62%
LTC A -2.61%
BLW A -2.61%
DMLP A -2.6%
GLPI D -2.58%
OHI A -2.55%
ET A -2.55%
NBB C -2.54%
SBRA A -2.53%
NNN D -2.52%
DSU C -2.51%
WES D -2.51%
FDUS C -2.51%
KRP B -2.5%
EPD C -2.48%
PAA D -2.47%
MPLX A -2.46%
EPR D -2.45%
CQP A -2.38%
BSM D -2.38%
USAC F -2.3%
PK F -2.29%
NHS B -2.06%
GNL D -2.03%
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