IYZ vs. KEAT ETF Comparison

Comparison of iShares U.S. Telecommunications ETF (IYZ) to Keating Active ETF (KEAT)

IYZ

iShares U.S. Telecommunications ETF

IYZ Description

The investment seeks to track the investment results of an index composed of U.S. equities in the telecommunications sector. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. It seeks to track the investment results of the Dow Jones U.S. Select Telecommunications Index (the "underlying index"), which measures the performance of the telecommunications sector of the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$25.31

Average Daily Volume

638,488

Number of Holdings ^*

* may have additional holdings in another (foreign) market

KEAT

Keating Active ETF

KEAT Description

KEAT actively invests in equity securities of all-cap companies considered undervalued based on the subadvisor's fundamental research. These securities include common stock, preferred stock, REITs, ADRs, and GDRs. The fund also considers and invests in international ETFs in the same manner it selects its individual securities. The sub-adviser initially identifies potential investment opportunities through public disclosures, and assesses their financial condition based on sustainable earnings and future cash flows through financial and strategic analyses. The portfolio will typically be comprised of 25 to 40 securities, all selected to offer exceptional value and have defensible positions. The fund also emphasizes companies with good shareholder yield. It intends to hold its positions for a year or more and sells them when it reaches its fair value or has become overvalued. KEAT may also hold short-term Treasurys in seeking total return.

Grade (RS Rating)

Last Trade

$26.90

Average Daily Volume

2,121

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	IYZ	KEAT
30 Days	7.89%	0.84%
60 Days	13.68%	4.51%
90 Days	16.87%	8.51%
12 Months	22.45%

1 Overlapping Holdings

	Symbol	Grade	Weight in IYZ	Weight in KEAT	Overlap
	LBTYK	A	1.91%	3.59%	1.91%

IYZ Overweight 18 Positions Relative to KEAT

Symbol	Grade	Weight
CSCO	A	16.69%
VZ	A	14.75%
T	A	12.39%
CMCSA	B	4.52%
ANET	B	4.34%
LITE	C	4.21%
CIEN	B	4.1%
TMUS	A	4.08%
LBRDK	C	4.04%
IRDM	C	4.02%
MSI	A	3.93%
UI	A	3.87%
ROKU	D	3.76%
CHTR	D	3.63%
JNPR	C	3.6%
FYBR	C	3.51%
LBTYA	B	1.93%
LBRDA	C	0.6%

IYZ Underweight 7 Positions Relative to KEAT

Symbol	Grade	Weight
STIP	A	-27.81%
GOLD	C	-4.34%
OII	D	-3.74%
EQNR	D	-3.55%
EQC	D	-3.53%
VOD	C	-3.41%
LMT	A	-3.35%

IYZ: Top Represented Industries & Keywords

Industries: Pay TV Communication Equipment Telecom Services Computer Systems