KBE vs. MRGR ETF Comparison

Comparison of SPDR S&P Bank ETF (KBE) to ProShares Merger ETF (MRGR)

KBE

SPDR S&P Bank ETF

KBE Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index that tracks the performance of publicly traded national money centers and leading regional banks. In seeking to track the performance of the S&P Banks Select Industry Index (the "index"), the fund employs a replication strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the banks industry group of the S&P Total Market Index ("S&P TMI"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$60.28

Average Daily Volume

1,814,987

Number of Holdings ^*

* may have additional holdings in another (foreign) market

MRGR

ProShares Merger ETF

MRGR Description

The investment seeks investment results, before fees and expenses, that track the performance of the S&P Merger Arbitrage Index (the "index"). The fund is designed to track the performance of the index and provide exposure to a global merger arbitrage strategy. The index, and by extension the fund, seeks to produce consistent, positive returns in virtually all market environments, although there are no assurances it will achieve this result. The fund is non-diversified. The index seeks to provide a risk arbitrage strategy that exploits commonly observed price changes associated with a global selection of publicly announced mergers, acquisitions and other corporate reorganizations. Historically, the index has exhibited market neutral characteristics, lower volatility compared to the S&P 500, and a low correlation to S&P 500 returns.

Grade (RS Rating)

Last Trade

$42.09

Average Daily Volume

792

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	KBE	MRGR
30 Days	10.56%	0.12%
60 Days	12.89%	0.60%
90 Days	13.40%	1.82%
12 Months	57.32%	7.37%

1 Overlapping Holdings

	Symbol	Grade	Weight in KBE	Weight in MRGR	Overlap
	IBTX	B	0.78%	3.02%	0.78%

KBE Overweight 92 Positions Relative to MRGR

Symbol	Grade	Weight
APO	B	1.42%
WFC	A	1.37%
EWBC	A	1.34%
WBS	A	1.34%
AX	B	1.32%
PNFP	B	1.32%
JXN	C	1.31%
SNV	C	1.3%
ASB	B	1.29%
ZION	B	1.28%
COLB	B	1.28%
GBCI	B	1.28%
CFR	B	1.28%
WTFC	A	1.27%
MTB	A	1.26%
TCBI	C	1.26%
FHN	A	1.25%
CADE	B	1.22%
BOH	B	1.22%
HBAN	A	1.22%
NTRS	A	1.21%
CMA	B	1.21%
HWC	B	1.2%
EQH	C	1.2%
RF	A	1.19%
KEY	B	1.19%
ONB	C	1.19%
C	A	1.19%
UMBF	B	1.19%
FULT	A	1.18%
BAC	A	1.18%
FCNCA	A	1.18%
VLY	B	1.18%
PNC	B	1.18%
FNB	A	1.18%
JPM	A	1.17%
BANC	B	1.16%
CBSH	B	1.16%
ABCB	B	1.15%
FFIN	B	1.15%
CFG	B	1.15%
OZK	B	1.15%
TBBK	B	1.15%
HOMB	A	1.15%
SSB	B	1.14%
PB	B	1.14%
UBSI	B	1.14%
BK	A	1.13%
WAL	B	1.13%
USB	A	1.13%
FITB	B	1.12%
TFC	A	1.11%
CRBG	B	1.11%
BKU	A	1.1%
VOYA	B	1.1%
FIBK	B	1.09%
FBP	C	1.06%
COOP	B	1.06%
AUB	B	1.03%
EBC	B	1.03%
CVBF	A	1.02%
WD	D	1.01%
PFS	B	1.0%
BPOP	C	0.99%
INDB	B	0.99%
CBU	B	0.99%
RDN	D	0.98%
MTG	C	0.98%
CATY	B	0.97%
BOKF	B	0.94%
NMIH	C	0.93%
SFBS	C	0.91%
PFSI	C	0.9%
IBOC	B	0.89%
FHB	B	0.89%
ESNT	F	0.89%
UCB	A	0.88%
WAFD	B	0.85%
RNST	B	0.82%
WSFS	B	0.81%
TFIN	B	0.81%
RKT	F	0.79%
PPBI	C	0.79%
BANR	B	0.75%
SBCF	B	0.72%
SFNC	C	0.64%
TRMK	C	0.62%
FFBC	B	0.61%
HTH	C	0.59%
FRME	B	0.57%
LKFN	C	0.46%
WSBC	B	0.44%

KBE Underweight 28 Positions Relative to MRGR

Symbol	Grade	Weight
HTLF	B	-3.58%
DFS	B	-3.14%
SASR	B	-2.81%
EDR	A	-2.53%
INFN	D	-2.5%
LBPH	A	-2.43%
EVRI	A	-2.42%
NAPA	A	-2.42%
B	A	-2.41%
SMAR	B	-2.41%
ROIC	A	-2.41%
ALTR	B	-2.4%
ATSG	B	-2.4%
ZUO	B	-2.39%
K	A	-2.37%
RCM	A	-2.37%
ENV	B	-2.37%
CDMO	A	-2.36%
ANSS	B	-2.32%
ALE	A	-2.31%
HCP	B	-2.3%
MRO	B	-2.28%
LBRDK	C	-2.25%
CTLT	C	-2.2%
JNPR	D	-2.14%
SPR	D	-2.11%
CHX	C	-1.8%
RVNC	F	-1.42%