CWI vs. MFDX ETF Comparison

Comparison of SPDR MSCI ACWI ex-US ETF (CWI) to PIMCO Equitiy Series PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX)

CWI

SPDR MSCI ACWI ex-US ETF

CWI Description

The investment seeks investment results that, before fees and expenses, correspond generally to the total return performance of an index. The fund employs a sampling strategy in seeking to track the performance of the MSCI All Country World Index ex USA. It invests substantially all, but at least 80%, of its total assets in the securities comprising the index or in ADRs or GDRs based on securities comprising the index. The index is a float-adjusted market capitalization index that is designed to measure the combined equity market performance of developed and emerging market countries excluding the United States. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$28.81

Average Daily Volume

158,951

Number of Holdings ^*

89

* may have additional holdings in another (foreign) market

MFDX

PIMCO Equitiy Series PIMCO RAFI Dynamic Multi-Factor International Equity ETF

MFDX Description

The investment seeks to track the investment results of the RAFI Dynamic Multi-Factor Emerging Markets Index. The fund seeks to achieve its investment objective by investing at least 80% of its total assets (exclusive of collateral held from securities lending) in the component securities of the RAFI Dynamic Multi-Factor Emerging Markets Index. The underlying index is constructed by RAFI Indices, LLC using a rules-based approach to construct factor portfolios within the underlying index. The underlying index consists of "factor portfolios," each of which emphasizes one of the following factors: value, low volatility, quality and momentum.

Grade (RS Rating)

Last Trade

$30.33

Average Daily Volume

24,135

Number of Holdings ^*

51

* may have additional holdings in another (foreign) market

Performance

Period	CWI	MFDX
30 Days	-2.14%	-1.45%
60 Days	-3.35%	-5.23%
90 Days	-3.13%	-4.02%
12 Months	14.07%	11.37%

29 Overlapping Holdings

	Symbol	Grade	Weight in CWI	Weight in MFDX	Overlap
	ABBV	D	0.45%	0.7%	0.45%
	AER	B	0.03%	0.01%	0.01%
	AGCO	D	0.04%	0.04%	0.04%
	BCS	C	0.21%	0.28%	0.21%
	CHKP	D	0.06%	0.12%	0.06%
	CNI	D	0.32%	0.16%	0.16%
	CYBR	B	0.04%	0.04%	0.04%
	DEO	F	0.27%	0.14%	0.14%
	E	F	0.15%	0.08%	0.08%
	HMC	F	0.16%	0.16%	0.16%
	HSBH	B	0.66%	0.4%	0.4%
	LOGI	D	0.03%	0.13%	0.03%
	LYG	F	0.16%	0.1%	0.1%
	MBAVU	D	0.01%	0.0%	0.0%
	MFG	B	0.15%	0.36%	0.15%
	MNDY	C	0.03%	0.02%	0.02%
	MUFG	B	0.51%	0.39%	0.39%
	NMR	B	0.07%	0.07%	0.07%
	NVS	D	0.81%	0.61%	0.61%
	QGEN	D	0.0%	0.04%	0.0%
	RBA	A	0.04%	0.11%	0.04%
	SE	B	0.14%	0.22%	0.14%
	SMFG	B	0.27%	0.27%	0.27%
	SONY	B	0.47%	0.03%	0.03%
	STLA	F	0.1%	0.06%	0.06%
	TEVA	D	0.07%	0.1%	0.07%
	TM	D	0.68%	0.21%	0.21%
	UL	D	0.54%	1.11%	0.54%
	WIX	B	0.04%	0.06%	0.04%

CWI Overweight 60 Positions Relative to MFDX

	Symbol	Grade	Weight
	TSM	B	3.02%
	BABA	D	0.6%
	SHOP	B	0.52%
	TD	F	0.44%
	INFY	B	0.33%
	PDD	F	0.28%
	IBN	C	0.27%
	HDB	C	0.25%
	ITUB	F	0.15%
	TCOM	B	0.13%
	VALE	F	0.13%
	CHT	D	0.11%
	KB	B	0.11%
	BIDU	F	0.1%
	UMC	F	0.1%
	BABA	D	0.09%
	SHG	D	0.09%
	BAP	B	0.08%
	RDY	F	0.08%
	YUMC	C	0.07%
	BBD	D	0.07%
	ABEV	F	0.06%
	PKX	F	0.06%
	XRX	F	0.05%
	CIB	B	0.05%
	LI	F	0.05%
	BEKE	D	0.05%
	WIT	A	0.04%
	CIG	C	0.04%
	ENIC	D	0.04%
	BGNE	D	0.04%
	MT	B	0.04%
	GGB	C	0.03%
	HTHT	D	0.03%
	NIO	F	0.03%
	CSAN	F	0.03%
	SQM	F	0.03%
	VIPS	F	0.03%
	GRAB	B	0.03%
	TME	D	0.03%
	OTEX	D	0.03%
	XPEV	C	0.02%
	LEGN	F	0.02%
	QFIN	B	0.02%
	XPEV	C	0.02%
	BRFS	D	0.02%
	FUTU	D	0.02%
	TAL	F	0.02%
	PHI	D	0.02%
	KEP	B	0.02%
	BILI	D	0.02%
	IQ	F	0.01%
	VALE	F	0.01%
	ATHM	D	0.01%
	GLBE	B	0.01%
	SBSW	D	0.01%
	BVN	F	0.01%
	BZ	F	0.01%
	SID	F	0.01%
	SCCO	F	0.0%

CWI Underweight 22 Positions Relative to MFDX

	Symbol	Grade	Weight
	TT	A	-0.37%
	MDT	D	-0.34%
	NXPI	D	-0.32%
	ARM	D	-0.28%
	GRMN	B	-0.26%
	SPOT	B	-0.22%
	WCN	A	-0.21%
	GOLD	D	-0.09%
	WFG	D	-0.08%
	ICLR	D	-0.08%
	LULU	C	-0.07%
	CCEP	C	-0.06%
	ALLE	D	-0.05%
	ALV	C	-0.04%
	PDS	C	-0.03%
	AEI	D	-0.03%
	DOOO	F	-0.02%
	ASND	D	-0.02%
	FRO	F	-0.02%
	SFL	D	-0.01%
	YY	C	-0.01%
	CSIQ	F	-0.0%

CWI: Top Represented Industries & Keywords

Industries: Auto Manufacturers Internet Content & Information Banks - Regional - Asia Software - Application Banks - Global Banks - Regional - Latin America Steel Information Technology Services Specialty Retail Biotechnology Capital Markets Drug Manufacturers - Major Drug Manufacturers - Specialty & Generic Industrial Metals & Minerals Semiconductors Telecom Services Utilities - Regulated Electric Airports & Air Services Banks - Regional - Europe Beverages - Brewers

Keywords: Banking Bank Investment Banking Financial Products Investment Banking Services Cash Management Investment Bank Investment Product Telecommunications Transport Asset Management Asset Management Services Cars Commercial Banking Currency Insurance Products Mining Pharmaceutical Structured Finance Cash Management Services

MFDX: Top Represented Industries & Keywords

Industries: Auto Manufacturers Banks - Global Internet Content & Information Diagnostics & Research Drug Manufacturers - Major Semiconductors Shipping & Ports Software - Application Airports & Air Services Apparel Stores Auto Parts Banks - Regional - Asia Banks - Regional - Europe Beverages - Soft Drinks Beverages - Wineries & Distilleries Biotechnology Business Services Capital Markets Computer Systems Consumer Electronics

Keywords: S&P 500 Nasdaq 100 Asset Management Bank Banking Biotechnology Computing Financial Products Investment Banking Investment Banking Services Transport Advisory Services Automotive Industry Cars Cash Management Services Corporate Banking Gas Exploration IBD 50 Insurance Products Investment Bank