IPPP vs. PGX ETF Comparison

Comparison of Preferred-Plus ETF (IPPP) to PowerShares Preferred Portfolio (PGX)

IPPP

Preferred-Plus ETF

IPPP Description

The investment seeks to provide income. The fund invests at least 80% of its net assets (plus any borrowings made for investment purposes) in a portfolio of preferred securities issued by U.S. and non-U.S. companies. It may invest in preferred securities of all issuer capitalizations. The fund may also invest in publicly-traded partnerships (“PTPs”). The Advisor intends to maintain approximately 10% asset exposure to a credit spread options strategy, although market conditions may dictate additional exposure.

Grade (RS Rating)

Last Trade

$10.32

Average Daily Volume

1,224

Number of Holdings ^*

12

* may have additional holdings in another (foreign) market

PGX

PowerShares Preferred Portfolio

PGX Description

The PowerShares Preferred Portfolio is based on The BofA Merrill Lynch Core Plus Fixed Rate Preferred Securities Index. The Fund will normally invest at least 80% of its total assets in fixed rate US dollar-denominated preferred securities that comprise the Index. The Index tracks the performance of fixed rate US dollar-denominated preferred securities issued in the US domestic market. (Securities must be rated at least B3, based on an average of three leading ratings agencies: Moody’s, S&P and Fitch) and must have an investment-grade country risk profile (based on an average of Moody’s, S&P and Fitch foreign currency long-term sovereign debt ratings). The Fund and the Index are rebalanced and reconstituted on a monthly basis.

Grade (RS Rating)

Last Trade

$11.94

Average Daily Volume

3,090,845

Number of Holdings ^*

41

* may have additional holdings in another (foreign) market

Performance

Period	IPPP	PGX
30 Days	-1.46%	-2.69%
60 Days	-1.73%	-3.23%
90 Days	2.30%	0.96%
12 Months	17.85%	15.33%

9 Overlapping Holdings

	Symbol	Grade	Weight in IPPP	Weight in PGX	Overlap
	CMSD	C	0.6%	0.58%	0.58%
	NRUC	D	0.97%	0.22%	0.22%
	PRS	C	0.57%	0.51%	0.51%
	RZB	C	0.57%	0.36%	0.36%
	SOJD	D	0.54%	0.81%	0.54%
	SREA	D	1.18%	0.67%	0.67%
	T	A	0.93%	1.31%	0.93%
	TBC	C	0.58%	0.74%	0.58%
	UZE	B	1.35%	0.42%	0.42%

IPPP Overweight 3 Positions Relative to PGX

	Symbol	Grade	Weight
	AGNC	C	1.41%
	AQNB	C	1.26%
	WTFCP	A	1.24%

IPPP Underweight 32 Positions Relative to PGX

	Symbol	Grade	Weight
	TBB	C	-1.16%
	BAC	A	-0.8%
	RZC	C	-0.69%
	DUKB	D	-0.46%
	CTDD	B	-0.45%
	BPYPM	D	-0.41%
	SOJC	D	-0.4%
	PFH	D	-0.36%
	DTW	D	-0.35%
	ESGRP	D	-0.31%
	UNMA	C	-0.28%
	ACGLO	D	-0.28%
	MGR	D	-0.27%
	CMSC	C	-0.26%
	OZKAP	D	-0.23%
	GPJA	D	-0.23%
	EAI	D	-0.23%
	AIZN	D	-0.21%
	ENO	D	-0.21%
	EMP	D	-0.21%
	ELC	D	-0.21%
	CMSA	C	-0.18%
	SFB	D	-0.18%
	FCNCO	C	-0.17%
	AFGC	D	-0.17%
	BPYPO	D	-0.15%
	AFGE	D	-0.15%
	BPYPN	C	-0.15%
	AFGD	C	-0.14%
	BPYPP	D	-0.11%
	AFGB	C	-0.11%
	BPOPM	C	-0.03%

IPPP: Top Represented Industries & Keywords

Industries: Other Banks - Regional REIT - Residential Telecom Services

Keywords: Electricity Mortgage Backed Security Natural Gas Natural Gas Distribution American Capital Asset Management Bank Banking Batteries Battery Charger Bond Insurance Broadband Commercial Banking Communication Services Critical Illness Customer Premises Equipment Data Communication Services Dial Up Internet Access Digital Subscriber Line Disability

PGX: Top Represented Industries & Keywords

Industries: Other Real Estate Services Banks - Regional Insurance Insurance - Diversified Banks Banks - Global Telecom Services

Keywords: Electricity Natural Gas Insurance Brookfield Property Partners Entergy Bank Broadband Brookfield Asset Management Core Office Gas Pipeline Gulf States Utilities Indian Point Energy Center Internet Access Voice Services Wireless Data American Financial Group Banking Brookfield Infrastructure Partners Carl Henry Lindner Jr. Casualty Insurance