ARB vs. PRN ETF Comparison

Comparison of AltShares Merger Arbitrage ETF (ARB) to PowerShares Dynamic Industrials (PRN)

ARB

AltShares Merger Arbitrage ETF

ARB Description

AltShares Trust - AltShares Merger Arbitrage ETF is an exchange traded fund launched and managed by Water Island Capital, LLC. It invests in public equity markets of global region. The fund invests through derivatives in stocks of companies operating across diversified sectors. The fund employs long/short strategy and uses derivatives such as futures, forwards, swaps to create its portfolio. AltShares Trust - AltShares Merger Arbitrage ETF is domiciled in the United States.

Grade (RS Rating)

Last Trade

$27.79

Average Daily Volume

10,699

Number of Holdings ^*

* may have additional holdings in another (foreign) market

PRN

PowerShares Dynamic Industrials

PRN Description

The PowerShares Dynamic Industrials Sector Portfolio (Fund) is based on the Dynamic Industrials Sector IntellidexSM Index (Intellidex Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Intellidex Index thoroughly evaluates companies based on a variety of investment merit criteria, including: price momentum, earnings momentum, quality, management action, and value. The Underlying Intellidex Index is comprised of common stocks of 60 US industrial companies. These are companies that are principally engaged in the business of providing industrial products and services, including engineering heavy machinery, construction, electrical equipment, aerospace and defense and general manufacturing. The Fund and the Index are rebalanced and reconstituted quarterly in February, May, August and November.

Grade (RS Rating)

Last Trade

$154.00

Average Daily Volume

17,268

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	ARB	PRN
30 Days	1.05%	10.50%
60 Days	2.03%	17.80%
90 Days	2.88%	15.33%
12 Months	5.90%	56.20%

0 Overlapping Holdings

	Symbol	Grade	Weight in ARB	Weight in PRN	Overlap

ARB Overweight 40 Positions Relative to PRN

Symbol	Grade	Weight
HCP	A	3.33%
HES	D	3.31%
ANSS	D	3.06%
HIBB	A	2.69%
PRFT	A	2.69%
EDR	A	2.67%
CHX	C	2.56%
ETRN	D	2.51%
JNPR	C	2.31%
CTLT	A	2.24%
ALE	A	2.09%
AXNX	A	2.09%
VZIO	A	1.99%
X	F	1.89%
CERE	A	1.88%
HTLF	B	1.88%
SWN	D	1.85%
AMK	B	1.83%
DFS	A	1.77%
CPRI	C	1.75%
AMED	D	1.45%
MGRC	D	1.36%
AGS	A	1.32%
HAYN	B	1.31%
NWLI	A	1.28%
HA	B	1.23%
WRK	C	0.94%
SBOW	D	0.82%
OSG	A	0.67%
IBTX	B	0.67%
OLK	A	0.62%
SRCL	B	0.6%
CNSL	A	0.57%
CRGY	B	-0.49%
UMBF	C	-0.59%
SSB	C	-0.68%
SNPS	F	-1.86%
CHK	C	-1.94%
CHRD	F	-2.18%
EQT	C	-2.53%

ARB Underweight 42 Positions Relative to PRN

Symbol	Grade	Weight
HEI	C	-4.18%
FIX	A	-4.06%
PH	A	-3.92%
TT	A	-3.84%
CTAS	C	-3.65%
GWW	B	-3.64%
HUBB	A	-3.62%
AME	C	-3.56%
PWR	A	-3.46%
WSO	C	-3.41%
URI	C	-3.13%
CPRT	B	-3.12%
HWM	A	-2.8%
PKG	B	-2.64%
IRM	B	-2.6%
STRL	B	-2.59%
TDG	A	-2.59%
FI	A	-2.46%
CSL	A	-2.44%
DY	C	-2.18%
CSWI	A	-2.16%
SMR	C	-2.16%
ETN	B	-2.12%
GE	B	-2.12%
BAH	C	-2.03%
LMB	B	-1.88%
MLI	B	-1.73%
TTEK	A	-1.72%
GVA	A	-1.69%
ASPN	C	-1.59%
GFF	C	-1.55%
GMS	B	-1.47%
CLH	B	-1.44%
INSW	B	-1.42%
TPC	A	-1.36%
USLM	C	-1.36%
CBZ	F	-1.34%
AVAV	B	-1.3%
AMSC	C	-1.24%
APG	F	-1.23%
INOD	D	-1.07%
VSEC	D	-0.97%