KBWB vs. FOVL ETF Comparison

Comparison of PowerShares KBW Bank Portfolio ETF (KBWB) to iShares Focused Value Factor ETF (FOVL)

KBWB

PowerShares KBW Bank Portfolio ETF

KBWB Description

The PowerShares KBW Bank Portfolio (Fund) is based on the KBW Bank Index (Index). The Fund will normally invest at least 90% of its total assets in securities that comprise the Underlying Index. The Index is a float adjusted modified-market capitalization-weighted index that seeks to reflect the performance of companies that do business as banks or thrifts that are publicly-traded in the US. The Index is compiled, maintained and calculated by Keefe, Bruyette & Woods, Inc. and is composed of approximately 24 companies representing leading national money centers and regional banks or thrifts. The Fund and the Index are rebalanced and reconstituted quarterly.

Grade (RS Rating)

Last Trade

$62.34

Average Daily Volume

806,432

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FOVL

iShares Focused Value Factor ETF

FOVL Description

The investment seeks to track the to track the investment results of the Focused Value Select Index, which is an objective, rules-based, equal-weighted equity index provided by FTSE Russell. The underlying index measures the performance of large- and mid-capitalization U.S. companies with prominent value factor characteristics, as determined by Russell. The fund generally will invest at least 90% of its assets in the component securities of the underlying index and may invest up to 10% of its assets in certain futures, options and swap contracts, cash and cash equivalents. It is non-diversified.

Grade (RS Rating)

Last Trade

$68.83

Average Daily Volume

1,975

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	KBWB	FOVL
30 Days	8.47%	1.74%
60 Days	5.33%	4.26%
90 Days	15.13%	11.17%
12 Months	62.12%	41.64%

9 Overlapping Holdings

Symbol	Grade	Weight in KBWB	Weight in FOVL	Overlap
BAC	B	7.93%	2.64%	2.64%
CMA	A	1.33%	2.58%	1.33%
FHN	B	1.49%	2.75%	1.49%
FITB	B	3.92%	2.52%	2.52%
MTB	B	4.3%	2.71%	2.71%
NTRS	B	3.35%	2.79%	2.79%
PNC	B	3.88%	2.52%	2.52%
RF	B	3.5%	2.52%	2.52%
USB	B	3.92%	2.61%	2.61%

KBWB Overweight 15 Positions Relative to FOVL

Symbol	Grade	Weight
MS	B	8.71%
WFC	B	8.43%
GS	B	7.73%
JPM	A	7.58%
BK	B	4.27%
STT	A	4.0%
COF	A	4.0%
C	A	3.84%
TFC	C	3.73%
HBAN	B	3.65%
CFG	A	3.01%
KEY	B	2.61%
EWBC	A	2.15%
WAL	C	1.47%
ZION	B	1.24%

KBWB Underweight 31 Positions Relative to FOVL

Symbol	Grade	Weight
WTM	B	-2.68%
DFS	A	-2.66%
FHB	A	-2.59%
JHG	A	-2.59%
ETR	A	-2.58%
D	B	-2.58%
OZK	B	-2.54%
VOYA	B	-2.52%
ALK	A	-2.52%
FNB	A	-2.52%
AXS	C	-2.51%
CMCSA	A	-2.5%
MET	C	-2.5%
PNW	D	-2.49%
CNA	D	-2.48%
AVT	B	-2.48%
RNR	C	-2.47%
OGE	C	-2.47%
UGI	D	-2.46%
EVRG	C	-2.45%
PFG	C	-2.44%
MTG	D	-2.43%
PRGO	D	-2.39%
HPE	A	-2.38%
RPRX	D	-2.38%
ADM	F	-2.37%
BG	F	-2.33%
VZ	D	-2.31%
CRI	F	-2.19%
CNXC	F	-2.17%
CWEN	C	-2.14%