FPAG vs. PSI ETF Comparison

Comparison of FPA Global Equity ETF (FPAG) to PowerShares Dynamic Semiconductors (PSI)

FPAG

FPA Global Equity ETF

FPAG Description

Although the adviser has adopted a policy to invest at least 80% of its assets in equity securities, the adviser expects to invest, under normal circumstances, at least 95% of the fund?s assets in equity securities. The fund invests primarily in publicly traded common stocks of mid- and large-cap U.S. and non-U.S. companies, including companies in emerging market countries. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$30.11

Average Daily Volume

26,425

Number of Holdings ^*

* may have additional holdings in another (foreign) market

PSI

PowerShares Dynamic Semiconductors

PSI Description

The PowerShares Dynamic Semiconductors Portfolio (Fund) is based on the Dynamic Semiconductor IntellidexSM Index (Intellidex Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Intelldiex Index is designed to provide capital appreciation by thoroughly evaluating companies based on a variety of investment merit criteria, including: price momentum, earnings momentum, quality, management action, and value. The Underlying Intellidex Index is comprised of common stocks of 30 US semiconductors companies. These are companies that are principally engaged in the manufacture of semiconductors. The Fund and the Index are rebalanced and reconstituted quarterly in February, May, August and November.

Grade (RS Rating)

Last Trade

$64.56

Average Daily Volume

64,001

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FPAG	PSI
30 Days	1.56%	6.09%
60 Days	5.25%	15.39%
90 Days	5.66%	14.86%
12 Months	26.72%	46.47%

3 Overlapping Holdings

Symbol	Grade	Weight in FPAG	Weight in PSI	Overlap
ADI	B	5.13%	4.73%	4.73%
AVGO	B	2.26%	5.47%	2.26%
NXPI	B	2.21%	2.52%	2.21%

FPAG Overweight 22 Positions Relative to PSI

Symbol	Grade	Weight
GOOGL	A	6.38%
META	A	5.35%
C	B	4.88%
CMCSA	F	4.78%
TEL	B	4.58%
GOOG	A	4.17%
IFF	B	3.84%
WFC	C	3.66%
AMZN	A	3.39%
AON	C	2.69%
KMX	C	1.85%
CHTR	C	1.75%
KMI	B	1.72%
MAR	C	1.69%
FE	C	1.49%
HWM	C	1.29%
ICLR	B	1.26%
WAB	D	1.23%
UBER	B	1.16%
NFLX	A	0.66%
BABA	D	0.29%
PCG	D	0.21%

FPAG Underweight 24 Positions Relative to PSI

Symbol	Grade	Weight
LRCX	B	-5.3%
NVDA	B	-5.3%
AMAT	B	-5.12%
MU	C	-4.86%
AMD	B	-4.53%
QCOM	B	-4.46%
CRDO	B	-4.01%
AMKR	B	-3.09%
VECO	B	-2.99%
CRUS	A	-2.89%
MPWR	B	-2.84%
UCTT	A	-2.84%
MTSI	A	-2.79%
KLAC	B	-2.75%
ENTG	B	-2.72%
FORM	A	-2.7%
TER	A	-2.7%
MKSI	B	-2.64%
ICHR	B	-2.62%
PI	C	-2.57%
ONTO	B	-2.54%
ACMR	C	-2.52%
PLAB	D	-2.41%
SMTC	C	-1.88%