BYLD vs. GAL ETF Comparison

Comparison of iShares Yield Optimized Bond ETF (BYLD) to SPDR SSgA Global Allocation ETF (GAL)

BYLD

iShares Yield Optimized Bond ETF

BYLD Description

The investment seeks to track the investment results of an index composed of underlying fixed income funds that collectively seek to deliver current income. The fund invests primarily in underlying funds that themselves seek investment results corresponding to their own underlying indexes. The fund also invests in a combination of other exchange-traded funds ("ETFs") (including other iShares ETFs), cash and cash equivalents, including shares of money market funds advised by BFA or its affiliates ("BlackRock Cash Funds"). The underlying index is a broadly diversified fixed income index that seeks to deliver current income.

Grade (RS Rating)

Last Trade

$22.70

Average Daily Volume

67,525

Number of Holdings ^*

6

* may have additional holdings in another (foreign) market

GAL

SPDR SSgA Global Allocation ETF

GAL Description

The investment seeks to provide capital appreciation. The fund invests substantially all of its assets in the SSgA Global Allocation Portfolio (the "Portfolio"), a separate series of the SSgA Master Trust with an identical investment objective as the fund. As a result, the fund invests indirectly through the Portfolio. The Portfolio typically allocates approximately 60% of its assets to equity securities, though this percentage can vary based on the Adviser's tactical decisions.

Grade (RS Rating)

Last Trade

$45.42

Average Daily Volume

13,242

Number of Holdings ^*

9

* may have additional holdings in another (foreign) market

Performance

Period	BYLD	GAL
30 Days	0.79%	3.14%
60 Days	2.16%	7.65%
90 Days	3.63%	4.25%
12 Months	13.08%	23.30%

0 Overlapping Holdings

	Symbol	Grade	Weight in BYLD	Weight in GAL	Overlap

BYLD Overweight 6 Positions Relative to GAL

	Symbol	Grade	Weight
	IGLB	C	26.16%
	SGOV	B	23.64%
	USHY	B	20.02%
	EMHY	A	10.08%
	CMBS	B	10.05%
	FLOT	A	9.95%

BYLD Underweight 9 Positions Relative to GAL

	Symbol	Grade	Weight
	TIPX	B	-3.9%
	GWX	C	-3.05%
	EBND	C	-3.01%
	IBND	D	-2.95%
	XLC	A	-2.07%
	MDY	A	-2.04%
	EMHC	B	-1.47%
	SRLN	A	-1.46%
	BWX	D	-0.99%

BYLD: Top Represented Industries & Keywords

Industries:

Keywords: Exchange Traded Fund ETF Bond Swaps Bond Market Corporate Bond Index Fund Cash And Cash Equivalents Commercial Mortgage Commercial Mortgage Backed Security Commercial Mortgage Securities Association Futures Markets High Yield Debt Money Market Fund Morningstar Mlp Composite Index Tr Mortgage Mortgage Backed Security Public–Private Investment Program For Legacy Assets Salomon Big Structured Finance

GAL: Top Represented Industries & Keywords

Industries:

Keywords: ETF Exchange Traded Fund Bond Market Indices Index Fund Bond Bond Market State Street Global Advisors Barclays Blackstone Bloomberg Barclays Us Aggregate Bond Index Bloomberg L.P. Bond Market Index Emerging Market Exchange Traded Funds Global Industry Classification Standard Inflation Indexed Bond Interactive Media Investment Management Ishares Management Cybernetics