ARB vs. PSCI ETF Comparison

Comparison of AltShares Merger Arbitrage ETF (ARB) to PowerShares S&P SmallCap Industrials Portfolio (PSCI)

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

$27.76

Average Daily Volume

10,048

Number of Holdings ^*

* may have additional holdings in another (foreign) market

PSCI

PowerShares S&P SmallCap Industrials Portfolio

PSCI Description

The PowerShares S&P SmallCap Industrials Portfolio (Fund) is based on the S&P SmallCap 600Â® Capped Industrials Index (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 measure the overall performance of common stocks of US industrial companies. These companies 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 Index is a subset of the S&P SmallCap 600Â® Index, which is a float-adjusted, market-capitalization-weighted index reflecting the US small-cap market. The Fund and the Index are rebalanced and reconstituted quarterly.

Grade (RS Rating)

Last Trade

$130.25

Average Daily Volume

5,806

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	ARB	PSCI
30 Days	0.52%	0.78%
60 Days	1.41%	4.75%
90 Days	2.83%	9.08%
12 Months	5.92%	34.59%

0 Overlapping Holdings

	Symbol	Grade	Weight in ARB	Weight in PSCI	Overlap

ARB Overweight 42 Positions Relative to PSCI

Symbol	Grade	Weight
HCP	B	3.33%
HES	D	3.31%
ANSS	D	3.06%
WIRE	A	2.76%
HIBB	A	2.69%
PRFT	A	2.69%
EDR	A	2.67%
CHX	D	2.56%
ETRN	D	2.51%
JNPR	B	2.31%
CTLT	A	2.24%
ALE	A	2.09%
AXNX	A	2.09%
VZIO	A	1.99%
EVBG	B	1.98%
X	F	1.89%
CERE	A	1.88%
HTLF	C	1.88%
SWN	D	1.85%
AMK	B	1.83%
DFS	C	1.77%
CPRI	B	1.75%
AMED	D	1.45%
MGRC	D	1.36%
AGS	B	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	D	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	D	-1.94%
CHRD	F	-2.18%
EQT	B	-2.53%

ARB Underweight 92 Positions Relative to PSCI

Symbol	Grade	Weight
MLI	C	-3.44%
RHI	D	-2.96%
CSWI	B	-2.55%
MOG.A	A	-2.46%
AWI	A	-2.45%
DY	C	-2.43%
AVAV	B	-2.42%
FSS	B	-2.38%
BCC	C	-2.33%
ALK	B	-2.23%
ZWS	A	-2.08%
AL	D	-1.98%
MATX	C	-1.97%
VRRM	D	-1.95%
ACA	C	-1.92%
RUN	D	-1.79%
GTES	C	-1.7%
FELE	C	-1.7%
KFY	C	-1.65%
GMS	C	-1.53%
GVA	A	-1.46%
NPO	C	-1.41%
SKYW	B	-1.4%
BRC	C	-1.4%
RUSHA	D	-1.37%
ESE	B	-1.37%
ABM	D	-1.36%
RXO	D	-1.33%
JBT	B	-1.24%
GFF	C	-1.21%
REZI	D	-1.21%
UNF	A	-1.2%
TRN	C	-1.19%
HUBG	D	-1.18%
AIN	F	-1.14%
ARCB	D	-1.11%
HNI	B	-1.05%
AZZ	C	-1.03%
AIR	D	-1.03%
WERN	D	-0.97%
EPAC	C	-0.96%
ROCK	D	-0.91%
HAYW	B	-0.89%
SXI	C	-0.89%
POWL	A	-0.86%
KMT	C	-0.85%
HI	F	-0.8%
ALG	D	-0.79%
MRCY	B	-0.77%
KAR	D	-0.76%
B	C	-0.76%
TNC	F	-0.75%
VSTS	D	-0.75%
GEO	F	-0.73%
MLKN	F	-0.72%
JBLU	B	-0.72%
MYRG	F	-0.7%
GBX	C	-0.67%
APOG	B	-0.63%
AMWD	B	-0.61%
CXW	F	-0.6%
DNOW	F	-0.58%
LNN	C	-0.57%
SNDR	C	-0.56%
CSGS	C	-0.56%
NX	F	-0.55%
NVEE	F	-0.5%
PBI	C	-0.47%
TILE	C	-0.46%
TGI	F	-0.44%
MRTN	F	-0.42%
NVRI	D	-0.36%
WNC	F	-0.36%
VICR	B	-0.36%
DLX	F	-0.36%
HCSG	D	-0.34%
HSII	C	-0.33%
VVI	B	-0.32%
ASTE	F	-0.31%
PRLB	F	-0.31%
FWRD	D	-0.3%
MATW	F	-0.3%
DXPE	C	-0.29%
KELYA	D	-0.29%
ALGT	D	-0.28%
IIIN	F	-0.26%
LQDT	C	-0.22%
HTLD	F	-0.22%
SNCY	D	-0.18%
TWI	F	-0.17%
HTZ	F	-0.17%
NPK	F	-0.16%