BYLD vs. VRIG ETF Comparison

Comparison of iShares Yield Optimized Bond ETF (BYLD) to PowerShares Variable Rate Investment Grade Portfolio (VRIG)

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

$22.48

Average Daily Volume

60,634

Number of Holdings ^*

6

* may have additional holdings in another (foreign) market

VRIG

PowerShares Variable Rate Investment Grade Portfolio

VRIG Description

The PowerShares Variable Rate Investment Grade Portfolio (the "Fund") is an actively managed exchange-traded fund (ETF) that seeks to generate current income while maintaining low portfolio duration as a primary objective and capital appreciation as a secondary objective. Under normal market conditions, the Fund generally will invest at least 80% of its net assets, plus any borrowings, in a portfolio of investment-grade, variable rate instruments that are US dollar denominated and US issued. Invesco, Advisers, Inc., the sub-adviser to the Fund (Sub-Adviser), seeks to invest in floating rate US Treasuries, government sponsored agency mortgage-backed securities, US Agency debt, structured securities and floating rate investment grade corporates. The Fund is able to invest in other types of securities as outlined in the prospectus, including up to 20% in non-investment grade securities.

Grade (RS Rating)

Last Trade

$25.12

Average Daily Volume

245,117

Number of Holdings ^*

1

* may have additional holdings in another (foreign) market

Performance

Period	BYLD	VRIG
30 Days	-0.21%	0.46%
60 Days	-0.07%	0.93%
90 Days	1.73%	1.46%
12 Months	10.21%	7.16%

0 Overlapping Holdings

	Symbol	Grade	Weight in BYLD	Weight in VRIG	Overlap

BYLD Overweight 6 Positions Relative to VRIG

	Symbol	Grade	Weight
	IGLB	D	25.25%
	SGOV	B	24.01%
	USHY	A	20.08%
	FLOT	A	10.1%
	EMHY	A	10.06%
	CMBS	D	9.93%

BYLD Underweight 1 Positions Relative to VRIG

	Symbol	Grade	Weight
	VRP	A	-0.27%

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

VRIG: Top Represented Industries & Keywords

Industries:

Keywords: Bond ETF Exchange Traded Fund Index Fund Preferred Stock Wells Fargo Yield