CWI vs. PXF ETF Comparison

Comparison of SPDR MSCI ACWI ex-US ETF (CWI) to PowerShares FTSE RAFI Developed Markets ex-U.S. Portfolio (PXF)

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

$30.43

Average Daily Volume

161,760

Number of Holdings ^*

* may have additional holdings in another (foreign) market

PXF

PowerShares FTSE RAFI Developed Markets ex-U.S. Portfolio

PXF Description

The PowerShares FTSE RAFI Developed Markets ex-U.S. Portfolio (Fund) is based on the FTSE RAFI Developed Markets ex-U.S. Index ND (Index). The Fund will normally invest at least 90% of its total assets in securities that comprise the Index and American Depository Receipts (ADRs) based on the securities in the Index. The Index is designed to track the performance of the largest developed market equities (excluding the US), selected based on the following four fundamental measures of firm size: book value, cash flow, sales and dividends. The equities with the highest fundamental strength are weighted according to their fundamental scores. The Index is computed using the net return, which withholds applicable taxes for non-resident investors. The Fund and the Index are reconstituted annually.

Grade (RS Rating)

Last Trade

$51.65

Average Daily Volume

68,974

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CWI	PXF
30 Days	2.05%	0.92%
60 Days	9.33%	7.84%
90 Days	5.40%	4.90%
12 Months	26.97%	25.42%

25 Overlapping Holdings

Symbol	Grade	Weight in CWI	Weight in PXF	Overlap
ABBV	A	0.44%	0.22%	0.22%
AGCO	D	0.04%	0.06%	0.04%
BCS	C	0.19%	0.68%	0.19%
CNI	D	0.31%	0.16%	0.16%
DEO	C	0.3%	0.22%	0.22%
E	D	0.15%	0.47%	0.15%
HMC	D	0.19%	0.38%	0.19%
KB	D	0.1%	0.11%	0.1%
KEP	C	0.02%	0.03%	0.02%
LOGI	D	0.03%	0.03%	0.03%
LYG	C	0.17%	0.3%	0.17%
MFG	D	0.12%	0.42%	0.12%
MUFG	D	0.42%	0.73%	0.42%
NMR	F	0.07%	0.13%	0.07%
NVS	D	0.84%	0.77%	0.77%
OTEX	D	0.04%	0.03%	0.03%
QGEN	D	0.0%	0.03%	0.0%
SHG	D	0.09%	0.06%	0.06%
SHOP	C	0.34%	0.03%	0.03%
SMFG	D	0.23%	0.61%	0.23%
SONY	B	0.46%	0.48%	0.46%
STLA	F	0.12%	0.29%	0.12%
TD	C	0.46%	0.71%	0.46%
TM	D	0.7%	1.0%	0.7%
UL	B	0.58%	0.72%	0.58%

CWI Overweight 63 Positions Relative to PXF

Symbol	Grade	Weight
TSM	C	2.82%
BABA	A	0.61%
INFY	C	0.32%
PDD	D	0.3%
IBN	C	0.27%
HDB	C	0.25%
ITUB	C	0.16%
VALE	C	0.14%
UMC	D	0.12%
SE	A	0.12%
CHT	C	0.11%
TCOM	B	0.1%
BIDU	C	0.1%
BABA	A	0.09%
BBD	C	0.08%
PKX	D	0.08%
RDY	D	0.08%
CHKP	C	0.07%
TEVA	D	0.07%
BAP	B	0.07%
ABEV	C	0.06%
YUMC	C	0.06%
CIB	F	0.05%
BEKE	A	0.05%
LI	C	0.05%
TME	D	0.04%
WIX	D	0.04%
ENIC	D	0.04%
CIG	B	0.04%
CYBR	C	0.04%
XRX	F	0.04%
BGNE	B	0.04%
MT	B	0.04%
AER	C	0.03%
SQM	D	0.03%
MNDY	C	0.03%
VIPS	C	0.03%
CSAN	D	0.03%
NIO	C	0.03%
RBA	D	0.03%
WIT	B	0.03%
MBAVU	D	0.02%
BVN	D	0.02%
BZ	C	0.02%
FUTU	A	0.02%
LEGN	F	0.02%
BILI	A	0.02%
SID	D	0.02%
BRFS	C	0.02%
TAL	C	0.02%
GRAB	B	0.02%
PHI	B	0.02%
GGB	C	0.02%
HTHT	B	0.02%
IQ	D	0.01%
VALE	C	0.01%
GLBE	C	0.01%
ATHM	A	0.01%
SBSW	D	0.01%
XPEV	C	0.01%
XPEV	C	0.01%
QFIN	B	0.01%
SCCO	B	0.0%

CWI Underweight 6 Positions Relative to PXF

Symbol	Grade	Weight
GOLD	C	-0.23%
SW	B	-0.09%
WCN	D	-0.06%
WFG	A	-0.06%
FLUT	B	-0.05%
LPL	D	-0.03%

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

PXF: Top Represented Industries & Keywords

Industries: Banks - Global Auto Manufacturers Banks - Regional - Asia Consumer Electronics Drug Manufacturers - Major Software - Application Banks - Regional - Europe Beverages - Wineries & Distilleries Capital Markets Computer Systems Diagnostics & Research Farm & Construction Equipment Gambling Gold Household & Personal Products Lumber & Wood Production Oil & Gas Integrated Packaging & Containers Railroads Utilities - Regulated Electric