ARP vs. IYLD ETF Comparison

Comparison of PMV Adaptive Risk Parity ETF (ARP) to iShares Morningstar Multi-Asset Income ETF (IYLD)

ARP

PMV Adaptive Risk Parity ETF

ARP Description

The PMV Adaptive Risk Parity ETF (the “Fund”) is an actively managed fund that seeks to generate capital appreciation, with lower volatility and reduced correlation to the overall equity market, by taking advantage of broad asset class trends throughout the market cycle.

Grade (RS Rating)

Last Trade

$28.03

Average Daily Volume

3,552

Number of Holdings ^*

8

* may have additional holdings in another (foreign) market

IYLD

iShares Morningstar Multi-Asset Income ETF

IYLD Description

The investment seeks to track the investment results of the Morningstar® Multi-Asset High Income IndexSM. The fund generally will invest at least 90% of its assets in the component securities of the underlying index and may invest up to 10% of its assets in certain futures, options and swap contracts, cash and cash equivalents. The index is broadly diversified and seeks to deliver high current income while maintaining long-term capital appreciation. The fund is a fund-of-funds and invests primarily in the securities of the underlying funds that themselves seek investment results corresponding to their own underlying indexes.

Grade (RS Rating)

Last Trade

$19.83

Average Daily Volume

11,604

Number of Holdings ^*

10

* may have additional holdings in another (foreign) market

Performance

Period	ARP	IYLD
30 Days	2.67%	0.32%
60 Days	4.68%	1.02%
90 Days	4.50%	1.65%
12 Months	12.72%	9.08%

0 Overlapping Holdings

	Symbol	Grade	Weight in ARP	Weight in IYLD	Overlap

ARP Overweight 8 Positions Relative to IYLD

	Symbol	Grade	Weight
	VOO	A	28.93%
	PHYS	C	20.03%
	USDU	B	18.28%
	IAUF	C	12.94%
	QQQ	A	8.14%
	PDBC	B	4.96%
	VEA	B	3.02%
	VWO	A	2.92%

ARP Underweight 10 Positions Relative to IYLD

	Symbol	Grade	Weight
	PFF	A	-15.26%
	ISTB	B	-15.21%
	USHY	B	-15.21%
	FLOT	A	-15.1%
	EFV	B	-14.36%
	AGZ	A	-5.42%
	USRT	B	-5.17%
	CEMB	A	-5.07%
	LEMB	C	-4.62%
	ILF	D	-4.53%

ARP: Top Represented Industries & Keywords

Industries:

Keywords: ETF Exchange Traded Fund Index Fund Stock Market Index Active Management Exchange Traded Funds Exchange Traded Products Bullion Commodity Commodity Markets Commodity Trading Advisor Economic Geography Emerging Market Ftse Developed Europe Index Financials Ftse Emerging Index Invesco Powershares Managed Futures Account Mutual Fund Mutual Fund Trust Nasdaq 100

IYLD: Top Represented Industries & Keywords

Industries:

Keywords: Exchange Traded Fund ETF Bond Index Fund Bond Market Corporate Bond Bloomberg Barclays Us Aggregate Bond Index Exchange Traded Funds U.S. Government Barclays U.S. Government Bond Market Indices Currency Debenture Debt EAFE Futures Markets Ishares MSCI EAFE Money Market Fund Morningstar Mlp Composite Index Tr