APIE vs. VWO ETF Comparison

Comparison of Trust for Professional Managers ActivePassive International Equity ETF (APIE) to Vanguard FTSE Emerging Markets ETF (VWO)

APIE

Trust for Professional Managers ActivePassive International Equity ETF

APIE Description

The fund is an actively-managed exchange-traded fund ("ETF") that blends active and passive investment strategies to optimize costs, tracking and potential return over the fund"s benchmark index, the S&P Classic ADR Composite Index. Under normal market conditions, the fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of non-U.S. companies with varying market capitalizations.

Grade (RS Rating)

Last Trade

$28.80

Average Daily Volume

47,382

Number of Holdings ^*

212

* may have additional holdings in another (foreign) market

VWO

Vanguard FTSE Emerging Markets ETF

VWO Description

The investment seeks to track the performance of a benchmark index that measures the investment return of stocks issued by companies located in emerging market countries. The fund employs an indexing investment approach by investing substantially all (approximately 95%) of its assets in the common stocks included in the FTSE Emerging Index, while employing a form of sampling to reduce risk. The FTSE Emerging Index includes approximately 851 common stocks of companies located in emerging markets around the world. As of May 31, 2013, the largest markets covered in the index were China, Brazil, Taiwan, and India.

Grade (RS Rating)

Last Trade

$45.40

Average Daily Volume

8,187,984

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	APIE	VWO
30 Days	-4.19%	-4.28%
60 Days	-3.36%	0.24%
90 Days	-3.32%	1.03%
12 Months	11.90%	15.49%

65 Overlapping Holdings

Symbol	Grade	Weight in APIE	Weight in VWO	Overlap
ABEV	F	0.12%	0.11%	0.11%
AKO.A	F	0.05%	0.01%	0.01%
AKO.A	F	0.06%	0.01%	0.01%
ASAI	F	0.02%	0.07%	0.02%
ASAI	F	0.02%	0.0%	0.0%
ATAT	C	0.02%	0.02%	0.02%
ATHM	C	0.03%	0.0%	0.0%
ATHM	C	0.03%	0.02%	0.02%
AZUL	F	0.0%	0.0%	0.0%
BABA	D	1.19%	2.32%	1.19%
BBD	D	0.1%	0.01%	0.01%
BCH	C	0.06%	0.06%	0.06%
BEKE	D	0.06%	0.15%	0.06%
BGNE	D	0.1%	0.14%	0.1%
BIDU	F	0.05%	0.28%	0.05%
BILI	D	0.03%	0.07%	0.03%
BRFS	C	0.02%	0.03%	0.02%
BZ	F	0.02%	0.05%	0.02%
CHT	C	0.08%	0.12%	0.08%
CHT	C	0.08%	0.04%	0.04%
CIB	B	0.07%	0.03%	0.03%
CIG	C	0.08%	0.01%	0.01%
DADA	F	0.0%	0.0%	0.0%
DAO	B	0.01%	0.0%	0.0%
DDL	C	0.0%	0.01%	0.0%
EBR	F	0.03%	0.0%	0.0%
EH	D	0.0%	0.01%	0.0%
ELP	F	0.02%	0.01%	0.01%
ENIC	B	0.02%	0.0%	0.0%
ERJ	A	0.13%	0.01%	0.01%
ERJ	A	0.13%	0.06%	0.06%
FINV	B	0.11%	0.01%	0.01%
GDS	C	0.02%	0.02%	0.02%
GGB	C	0.03%	0.0%	0.0%
GGB	C	0.03%	0.04%	0.03%
HDB	C	0.96%	1.29%	0.96%
HUYA	F	0.01%	0.0%	0.0%
IBN	C	0.51%	0.66%	0.51%
IMOS	F	0.04%	0.01%	0.01%
IQ	F	0.0%	0.01%	0.0%
ITUB	F	0.16%	0.06%	0.06%
JKS	F	0.01%	0.01%	0.01%
LI	F	0.08%	0.15%	0.08%
MOMO	D	0.02%	0.01%	0.01%
NIO	F	0.03%	0.07%	0.03%
PDD	F	0.5%	0.95%	0.5%
QFIN	A	0.07%	0.04%	0.04%
RDY	F	0.27%	0.03%	0.03%
RLX	C	0.0%	0.01%	0.0%
SBS	B	0.09%	0.02%	0.02%
SBSW	D	0.0%	0.04%	0.0%
SOHU	F	0.05%	0.0%	0.0%
SQM	D	0.01%	0.0%	0.0%
TAL	F	0.02%	0.05%	0.02%
TCOM	B	0.29%	0.4%	0.29%
TME	D	0.04%	0.09%	0.04%
UMC	F	0.13%	0.04%	0.04%
UMC	F	0.13%	0.14%	0.13%
VALE	F	0.23%	0.46%	0.23%
VIPS	F	0.06%	0.05%	0.05%
WIT	B	0.14%	0.08%	0.08%
WIT	B	0.14%	0.02%	0.02%
XPEV	C	0.05%	0.08%	0.05%
YMM	C	0.04%	0.07%	0.04%
YY	B	0.06%	0.01%	0.01%

APIE Overweight 154 Positions Relative to VWO

Symbol	Grade	Weight
TSM	B	5.96%
SAP	B	1.98%
RELX	D	1.54%
NVO	F	1.45%
NVS	F	1.33%
UL	D	1.28%
AZN	F	1.25%
ASML	F	1.22%
TM	F	1.2%
HSBC	A	1.18%
BTI	B	0.92%
BCS	A	0.81%
TAK	D	0.79%
BHP	F	0.75%
DEO	F	0.72%
SNY	F	0.72%
BP	D	0.69%
RIO	D	0.68%
IX	F	0.66%
GSK	F	0.66%
BUD	F	0.65%
TTE	F	0.6%
SMFG	B	0.59%
MUFG	B	0.58%
SAN	D	0.53%
HMC	F	0.53%
INFY	C	0.53%
NGG	D	0.52%
BBVA	D	0.49%
ING	F	0.46%
PHG	C	0.46%
LYG	D	0.44%
NWG	A	0.43%
MFG	A	0.41%
IHG	A	0.39%
JD	D	0.38%
ABBV	F	0.37%
TEF	C	0.37%
MT	B	0.35%
ERIC	C	0.34%
AON	A	0.34%
PSO	B	0.33%
NOK	D	0.32%
E	F	0.31%
ACN	B	0.31%
CHKP	C	0.31%
VOD	F	0.3%
NMR	B	0.3%
HLN	C	0.29%
SKM	C	0.29%
SHG	C	0.28%
SNN	D	0.26%
RTO	C	0.26%
LOGI	D	0.25%
KT	A	0.25%
KB	B	0.22%
JHX	D	0.21%
GLPG	F	0.2%
FMS	A	0.19%
EQNR	C	0.19%
PBR	D	0.17%
ASX	D	0.16%
SE	A	0.15%
WPP	C	0.15%
TEVA	C	0.14%
DOOO	F	0.13%
CRTO	D	0.12%
NTES	D	0.12%
CUK	A	0.12%
WF	C	0.12%
ARGX	B	0.1%
ZTO	F	0.1%
PKX	D	0.09%
NICE	D	0.08%
GRFS	C	0.08%
WDS	D	0.08%
TS	B	0.08%
SW	A	0.08%
FUTU	D	0.08%
GFI	D	0.07%
CCU	D	0.06%
NNDM	D	0.06%
PAC	B	0.06%
KOF	F	0.06%
ASR	D	0.06%
HMY	D	0.06%
GGAL	B	0.05%
ARM	F	0.05%
MTLS	A	0.05%
PAM	A	0.05%
FMX	F	0.05%
GOLD	C	0.05%
CX	F	0.05%
BNTX	C	0.05%
GMAB	F	0.05%
HTHT	D	0.04%
DRD	D	0.04%
TKC	B	0.04%
OPRA	B	0.04%
BWAY	B	0.04%
STM	F	0.04%
PHI	D	0.04%
IMMP	F	0.03%
BLTE	B	0.03%
VLRS	B	0.03%
TLK	D	0.03%
CRESY	B	0.03%
YPF	B	0.03%
TX	F	0.03%
OMAB	D	0.03%
VIST	B	0.03%
DAVA	C	0.03%
MREO	F	0.02%
BMA	C	0.02%
ZLAB	C	0.02%
GNFT	F	0.02%
LPL	D	0.02%
UGP	F	0.02%
SUPV	B	0.02%
ASND	F	0.02%
HIMX	F	0.02%
XYF	D	0.02%
SUZ	B	0.02%
MYTE	B	0.02%
CANG	B	0.02%
EDAP	F	0.01%
JMIA	F	0.01%
YALA	D	0.01%
DOYU	C	0.01%
MNSO	D	0.01%
BZUN	F	0.01%
CEPU	B	0.01%
CLLS	F	0.01%
LEGN	D	0.01%
TV	F	0.01%
GRVY	C	0.01%
RERE	C	0.01%
OTLY	F	0.01%
JFIN	F	0.01%
TEO	B	0.01%
BVN	D	0.01%
IPHA	D	0.01%
VIV	F	0.01%
ADAP	F	0.0%
EVO	C	0.0%
HCM	D	0.0%
SSL	F	0.0%
CNF	F	0.0%
ORAN	F	0.0%
HEPS	C	0.0%
TOUR	D	0.0%
SIMO	D	0.0%
YRD	F	0.0%
KC	B	0.0%

APIE Underweight 17 Positions Relative to VWO

Symbol	Grade	Weight
YUMC	C	-0.19%
CSAN	F	-0.03%
SGRP	D	-0.02%
CAR	C	-0.02%
EC	D	-0.01%
WB	D	-0.01%
CSIQ	F	-0.01%
BSAC	C	-0.01%
DQ	F	-0.01%
BSBR	F	-0.01%
BAOS	F	-0.0%
JEWL	D	-0.0%
BAK	F	-0.0%
CAN	C	-0.0%
SID	F	-0.0%
VNET	B	-0.0%
GOTU	F	-0.0%