SMRI vs. PNQI ETF Comparison

Comparison of Bushido Capital US Equity ETF (SMRI) to PowerShares Nasdaq Internet Portfolio (PNQI)

SMRI

Bushido Capital US Equity ETF

SMRI Description

The fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of the fund"s net assets (plus the amount of any borrowings for investment purposes) in U.S. listed common stock.

Grade (RS Rating)

Last Trade

$30.35

Average Daily Volume

7,807

Number of Holdings ^*

* may have additional holdings in another (foreign) market

PNQI

PowerShares Nasdaq Internet Portfolio

PNQI Description

The PowerShares NASDAQ Internet Portfolio (Fund) is based on the NASDAQ Internet IndexÂ® (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to track the performance of the largest and most liquid US-listed companies engaged in internet-related businesses and that are listed on one of the major US stock exchanges. The Underlying Index employs a modified market capitalization-weighted methodology based on the market capitalization ranking of the Underlying Index securities. The Fund and the Index are rebalanced and reconstituted quarterly.

Grade (RS Rating)

Last Trade

$43.44

Average Daily Volume

45,729

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	SMRI	PNQI
30 Days	-0.99%	0.73%
60 Days	0.23%	5.31%
90 Days	5.36%	12.92%
12 Months	27.46%	43.22%

6 Overlapping Holdings

Symbol	Grade	Weight in SMRI	Weight in PNQI	Overlap
ABNB	C	2.06%	1.88%	1.88%
BKNG	A	2.09%	4.2%	2.09%
DOCU	B	2.39%	0.47%	0.47%
EXPE	B	2.2%	0.64%	0.64%
PYPL	B	2.04%	2.68%	2.04%
ZM	A	2.05%	0.61%	0.61%

SMRI Overweight 44 Positions Relative to PNQI

Symbol	Grade	Weight
APP	A	2.43%
DAL	A	2.31%
SNA	A	2.25%
VST	B	2.24%
JBL	B	2.16%
PAYX	B	2.1%
HPE	B	2.09%
PCAR	C	2.09%
MCK	F	2.07%
OC	B	2.07%
EME	A	2.06%
UTHR	A	2.05%
COR	D	2.05%
QCOM	D	2.04%
XOM	C	2.04%
CVX	C	2.03%
CAH	D	2.01%
VLO	F	2.0%
GEN	A	1.99%
CMCSA	A	1.99%
FANG	F	1.98%
EPAM	F	1.97%
FFIV	A	1.94%
NTAP	D	1.94%
EOG	D	1.94%
SLB	F	1.93%
NVR	D	1.93%
AMGN	C	1.93%
DVN	F	1.93%
NUE	F	1.92%
MPC	F	1.91%
NRG	A	1.91%
COP	C	1.9%
LEN	D	1.87%
BLD	F	1.86%
LKQ	F	1.85%
PHM	D	1.85%
MRK	F	1.83%
WSM	F	1.81%
BG	F	1.81%
CI	F	1.78%
CNC	F	1.62%
MOH	D	1.62%
ELV	F	1.57%

SMRI Underweight 71 Positions Relative to PNQI

Symbol	Grade	Weight
META	B	-8.25%
AMZN	B	-7.91%
MSFT	D	-7.71%
AAPL	C	-7.63%
GOOG	A	-7.55%
CRM	B	-4.29%
NFLX	A	-4.07%
UBER	C	-4.06%
DIS	B	-4.0%
MELI	C	-3.35%
ADBE	F	-3.18%
SHOP	B	-3.11%
BABA	B	-2.61%
SPOT	A	-2.39%
DASH	A	-1.9%
COIN	D	-1.37%
CPNG	A	-1.34%
SE	B	-1.28%
EBAY	D	-1.0%
CSGP	F	-0.98%
RBLX	A	-0.81%
TCOM	A	-0.74%
GDDY	A	-0.73%
PINS	C	-0.62%
JD	A	-0.61%
DKNG	F	-0.58%
VRSN	F	-0.58%
AKAM	C	-0.5%
SNAP	B	-0.47%
BIDU	F	-0.41%
OKTA	F	-0.38%
Z	D	-0.33%
NTES	F	-0.31%
PCTY	A	-0.31%
ROKU	D	-0.3%
OTEX	D	-0.29%
WIX	B	-0.29%
U	C	-0.26%
GTLB	C	-0.24%
SPSC	F	-0.23%
MMYT	B	-0.23%
GLBE	B	-0.21%
DBX	B	-0.2%
VIPS	B	-0.19%
LYFT	C	-0.18%
ETSY	D	-0.18%
BOX	D	-0.15%
W	F	-0.14%
CHWY	D	-0.13%
ALRM	F	-0.09%
BILI	A	-0.08%
ZD	F	-0.07%
YELP	F	-0.07%
CRTO	F	-0.07%
CMPR	F	-0.06%
TRIP	C	-0.06%
ATHM	C	-0.06%
DLO	C	-0.05%
TDOC	C	-0.05%
RDFN	C	-0.04%
PRO	C	-0.03%
BMBL	C	-0.03%
FSLY	D	-0.03%
SSTK	D	-0.03%
CARS	D	-0.03%
GDRX	F	-0.02%
CHGG	F	-0.01%
EB	C	-0.01%
SFIX	D	-0.01%
FLWS	B	-0.01%
CCSI	C	-0.01%