SPHD vs. MNA ETF Comparison

Comparison of PowerShares S&P 500 High Dividend Portfolio (SPHD) to IQ Merger Arbitrage ETF (MNA)

SPHD

PowerShares S&P 500 High Dividend Portfolio

SPHD Description

The PowerShares S&P 500® High Dividend Portfolio (the “Fund”) seeks investment results that generally correspond (before fees and expenses) to the price and yield of the S&P 500 Low Volatility High Dividend Index (the “Underlying Index”). The Fund generally will invest at least 90% of its total assets in common stocks that comprise the Underlying Index. Standard & Poor’s® compiles, maintains and calculates the Underlying Index, which is composed of 50 securities traded on the S&P 500 Index that historically have provided high dividend yields and low volatility. The Fund and the Index are rebalanced and reconstituted semi-annually, in January and July

Grade (RS Rating)

Last Trade

$51.14

Average Daily Volume

656,652

Number of Holdings ^*

* may have additional holdings in another (foreign) market

MNA

IQ Merger Arbitrage ETF

MNA Description

The investment seeks investment results that correspond generally to the price and yield performance of its underlying index, the IQ Merger Arbitrage Index. The fund employs a "passive management" to track the performance of the underlying index, which was developed by Financial Development Holdco LLC ("IndexIQ"). The underlying index seeks to employ a systematic investment process designed to identify opportunities in companies whose equity securities trade in developed markets, including the U.S., and which are involved in announced mergers, acquisitions and other buyout-related transactions. It is non-diversified.

Grade (RS Rating)

Last Trade

$32.80

Average Daily Volume

49,131

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	SPHD	MNA
30 Days	1.23%	-0.18%
60 Days	2.34%	-0.27%
90 Days	5.44%	0.61%
12 Months	33.65%	6.73%

1 Overlapping Holdings

	Symbol	Grade	Weight in SPHD	Weight in MNA	Overlap
	K	A	2.26%	2.47%	2.26%

SPHD Overweight 49 Positions Relative to MNA

Symbol	Grade	Weight
MO	A	3.1%
BMY	B	2.97%
KMI	A	2.93%
T	A	2.72%
VZ	C	2.68%
CCI	D	2.52%
OKE	A	2.52%
SPG	B	2.46%
VICI	C	2.42%
D	C	2.38%
PM	B	2.32%
WMB	A	2.28%
KVUE	A	2.26%
GILD	C	2.24%
ETR	B	2.21%
EVRG	A	2.18%
O	D	2.14%
PFE	D	2.13%
AMCR	D	2.06%
PNW	B	2.02%
VTRS	A	2.01%
UPS	C	1.98%
KHC	F	1.94%
WEC	A	1.93%
ES	D	1.9%
LYB	F	1.88%
EIX	B	1.84%
CAG	D	1.84%
FRT	B	1.84%
HST	C	1.82%
EXC	C	1.8%
DOW	F	1.8%
PRU	A	1.78%
IBM	C	1.77%
FE	C	1.75%
IPG	D	1.75%
DRI	B	1.69%
CSCO	B	1.68%
DUK	C	1.68%
CVX	A	1.65%
MDT	D	1.55%
GIS	D	1.49%
SJM	D	1.48%
OMC	C	1.43%
HRL	D	1.42%
XOM	B	1.39%
EMN	D	1.38%
ABBV	D	1.37%
JNJ	D	1.3%

SPHD Underweight 43 Positions Relative to MNA

Symbol	Grade	Weight
DFS	B	-8.65%
CTLT	B	-5.63%
JNPR	F	-4.99%
HCP	B	-4.36%
FYBR	D	-3.64%
MRO	B	-3.51%
SMAR	A	-3.2%
ALTR	B	-3.12%
BALY	C	-2.82%
ALE	A	-2.69%
ENV	B	-2.59%
AXNX	C	-2.39%
AY	B	-2.1%
B	B	-2.08%
IBTX	B	-2.04%
RCM	F	-2.01%
SPR	D	-1.97%
INFN	C	-1.72%
NAPA	B	-1.6%
EVRI	A	-1.59%
SASR	B	-1.5%
VZIO	A	-1.31%
HTLF	B	-1.25%
FBMS	B	-1.19%
ZUO	B	-1.18%
AGS	A	-0.84%
HAYN	C	-0.77%
PFC	A	-0.65%
GATO	D	-0.41%
CFB	B	-0.4%
PGRU	A	-0.35%
RVNC	F	-0.32%
SRDX	B	-0.27%
BUSE	B	--0.42%
WSBC	A	--0.66%
RNST	B	--1.2%
CDE	D	--1.2%
UMBF	B	--1.28%
AUB	B	--1.5%
BA	F	--1.63%
SSB	B	--2.03%
IP	B	--4.24%
COF	B	--9.37%