BEEZ vs. PHO ETF Comparison

Comparison of Honeytree U.S. Equity ETF (BEEZ) to Invesco Water Resources ETF (PHO)

BEEZ

Honeytree U.S. Equity ETF

BEEZ Description

The fund is an actively managed exchange-traded fund ("ETF") sub-advised by Honeytree Investment Management Ltd. (the "Sub-Adviser"). The fund does not seek to replicate the performance of a specified index. The fund seeks to achieve its investment objective by investing at least 80% of the fund"s net assets, plus borrowings for investment purposes in a concentrated portfolio of large-cap and mid-cap U.S. listed equity stocks.

Grade (RS Rating)

Last Trade

$31.92

Average Daily Volume

606

Number of Holdings ^*

* may have additional holdings in another (foreign) market

PHO

Invesco Water Resources ETF

PHO Description

The PowerShares Water Resources Portfolio (Fund) is based on the NASDAQ OMX US Water Index. The Fund generally will invest at least 90% of its total assets in common stocks and American depositary receipts (ADRs) of companies in the water industry that comprise the Underlying Index. The Underlying Index seeks to track the performance of US exchange-listed companies that create products designed to conserve and purify water for homes, businesses and industries. The Fund and the Index are rebalanced quarterly and reconstituted annually in April.

Grade (RS Rating)

Last Trade

$68.71

Average Daily Volume

63,856

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	BEEZ	PHO
30 Days	-1.58%	-1.84%
60 Days	1.08%	-1.55%
90 Days	6.03%	1.07%
12 Months		32.57%

1 Overlapping Holdings

	Symbol	Grade	Weight in BEEZ	Weight in PHO	Overlap
	WTS	D	3.9%	1.75%	1.75%

BEEZ Overweight 24 Positions Relative to PHO

Symbol	Grade	Weight
OLED	F	4.69%
NOW	A	4.43%
FAST	A	4.3%
ATR	A	4.28%
ACN	C	4.22%
EQIX	B	4.2%
HD	B	4.19%
APD	B	4.11%
MA	B	4.11%
CMI	B	4.09%
MAS	D	4.09%
EW	D	4.04%
TXN	A	4.03%
V	A	3.99%
COST	D	3.96%
ITW	A	3.93%
SHW	D	3.85%
TSCO	D	3.8%
INTU	D	3.67%
LRCX	F	3.61%
ZTS	D	3.55%
A	D	3.54%
AMT	D	3.4%
TMO	D	3.37%

BEEZ Underweight 35 Positions Relative to PHO

Symbol	Grade	Weight
ECL	C	-8.19%
ROP	D	-7.91%
XYL	F	-6.62%
VLTO	D	-6.21%
PNR	B	-4.53%
ACM	A	-4.24%
IEX	A	-3.99%
AWK	D	-3.95%
WMS	F	-3.9%
CNM	D	-3.84%
WAT	A	-3.82%
AOS	F	-3.74%
TTC	F	-3.59%
ITRI	A	-3.55%
TTEK	B	-3.28%
MLI	A	-2.68%
WTRG	C	-2.66%
VMI	A	-2.53%
ZWS	A	-1.59%
BMI	D	-1.56%
MWA	B	-1.28%
SBS	F	-1.09%
AWR	C	-0.86%
FELE	D	-0.82%
CWT	D	-0.76%
LNN	C	-0.68%
SJW	F	-0.56%
MSEX	B	-0.4%
ERII	A	-0.34%
GRC	D	-0.21%
ARTNA	F	-0.15%
CWCO	F	-0.13%
YORW	F	-0.11%
NWPX	A	-0.07%
GWRS	D	-0.02%