KBWP vs. UTRN ETF Comparison

Comparison of PowerShares KBW Property & Casualty Insurance Portfolio ETF (KBWP) to Vesper US Large Cap Short-Term Reversal Strategy ETF (UTRN)

KBWP

PowerShares KBW Property & Casualty Insurance Portfolio ETF

KBWP Description

The PowerShares KBW Property & Casualty Insurance Portfolio (Fund) is based on the KBW Property & Casualty Index (Index). The Fund will normally invest at least 90% of its total assets in securities that comprise the Index. The Index is a modified market capitalization weighted index that seeks to reflect the performance of approximately 24 property and casualty insurance companies. The Fund and the Index are rebalanced and reconstituted quarterly.

Grade (RS Rating)

Last Trade

$123.28

Average Daily Volume

70,618

Number of Holdings ^*

* may have additional holdings in another (foreign) market

UTRN

Vesper US Large Cap Short-Term Reversal Strategy ETF

UTRN Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Vesper U.S. Large Cap Short-Term Reversal Index (the 'index'). The fund will normally invest at least 80% of its total assets in securities of the index. The index is designed to measure the performance of a portfolio of 25 stocks selected from the S&P 500 that Vesper Capital Management, LLC believes will most likely benefit from the "short-term reversal" effect, as determined by applying a proprietary algorithm ("Chow's Ratio" or "Algorithm").

Grade (RS Rating)

Last Trade

$31.32

Average Daily Volume

599

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	KBWP	UTRN
30 Days	2.11%	1.00%
60 Days	5.29%	3.83%
90 Days	9.40%	8.96%
12 Months	36.46%	38.11%

3 Overlapping Holdings

Symbol	Grade	Weight in KBWP	Weight in UTRN	Overlap
AIG	D	7.54%	3.86%	3.86%
CB	D	7.74%	4.02%	4.02%
TRV	B	8.62%	4.04%	4.04%

KBWP Overweight 21 Positions Relative to UTRN

Symbol	Grade	Weight
ALL	A	7.94%
PGR	B	7.83%
RLI	A	4.35%
THG	A	4.23%
AIZ	A	4.21%
CINF	A	4.18%
SIGI	C	4.17%
AXS	A	4.08%
AFG	A	4.07%
KMPR	A	3.94%
RNR	C	3.86%
HIG	A	3.84%
WRB	A	3.83%
EG	C	3.58%
MCY	B	3.52%
ACGL	D	3.39%
SPNT	A	2.17%
HMN	B	1.44%
PRA	B	0.74%
UVE	A	0.55%
JRVR	F	0.15%

KBWP Underweight 22 Positions Relative to UTRN

Symbol	Grade	Weight
DXCM	C	-4.32%
ATO	A	-4.2%
DGX	A	-4.15%
LYV	A	-4.09%
LMT	D	-4.07%
AJG	A	-4.05%
TDY	B	-4.03%
FTV	C	-4.01%
APD	A	-4.01%
ECL	D	-4.01%
KDP	D	-4.01%
VLTO	C	-4.0%
MMC	D	-4.0%
O	D	-3.98%
WFC	A	-3.98%
PAYX	B	-3.95%
PSX	C	-3.94%
CVX	A	-3.9%
LVS	B	-3.87%
PPG	F	-3.83%
KHC	F	-3.79%
DOW	F	-3.7%