MEDX vs. PJP ETF Comparison

Comparison of Horizon Kinetics Medical ETF (MEDX) to PowerShares Dynamic Pharmaceuticals (PJP)

MEDX

Horizon Kinetics Medical ETF

MEDX Description

The fund is an actively-managed exchange-traded fund ("ETF") that pursues its investment objective by investing, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes in common stocks, convertible securities, warrants and other equity securities having the characteristics of common stocks of U.S. and foreign companies engaged in medical research, pharmaceutical and medical technology industries and related technology industries. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$27.37

Average Daily Volume

1,005

Number of Holdings ^*

* may have additional holdings in another (foreign) market

PJP

PowerShares Dynamic Pharmaceuticals

PJP Description

The PowerShares Dynamic Pharmaceuticals Portfolio (Fund) is based on the Dynamic Pharmaceutical IntellidexSM Index (Intellidex Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Intellidex Index is designed to provide capital appreciation by thoroughly evaluating companies based on a variety of investment merit criteria, including: price momentum, earnings momentum, quality, management action, and value. The Underlying Intellidex Index is comprised of common stocks of 30 US pharmaceuticals companies. These are companies that are principally engaged in the research, development, manufacture, sale or distribution of pharmaceuticals and drugs of all types. The Fund and the Index are rebalanced and reconstituted quarterly in February, May, August and November.

Grade (RS Rating)

Last Trade

$85.66

Average Daily Volume

8,288

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	MEDX	PJP
30 Days	-10.62%	-3.03%
60 Days	-12.86%	-3.63%
90 Days	-13.89%	-2.47%
12 Months	-3.94%	22.14%

10 Overlapping Holdings

Symbol	Grade	Weight in MEDX	Weight in PJP	Overlap
ABBV	F	7.81%	4.91%	4.91%
AMGN	D	5.96%	5.13%	5.13%
BIIB	F	3.08%	2.71%	2.71%
BMY	B	6.23%	4.07%	4.07%
JNJ	D	4.65%	5.29%	4.65%
LLY	F	15.83%	4.67%	4.67%
MRK	F	3.96%	4.79%	3.96%
PFE	F	4.04%	5.12%	4.04%
REGN	F	3.38%	3.69%	3.38%
VTRS	A	0.27%	3.61%	0.27%

MEDX Overweight 22 Positions Relative to PJP

Symbol	Grade	Weight
NVS	D	5.95%
AZN	F	4.86%
ALNY	D	4.45%
ALKS	C	3.91%
CRSP	D	2.97%
IONS	F	2.78%
GSK	F	2.32%
BCYC	F	1.95%
BEAM	D	1.51%
NTLA	F	1.3%
REPL	C	0.98%
GALT	C	0.89%
HLN	C	0.79%
VNDA	C	0.79%
LTRN	F	0.6%
EDIT	F	0.53%
GEHC	C	0.48%
TSVT	F	0.41%
ALLO	F	0.28%
PACB	D	0.13%
BLUE	F	0.08%
MURA	D	0.05%

MEDX Underweight 15 Positions Relative to PJP

Symbol	Grade	Weight
ABT	B	-5.77%
CORT	B	-5.29%
GILD	B	-4.0%
PBH	A	-3.82%
PCRX	C	-3.78%
UTHR	C	-3.7%
LGND	C	-3.63%
JAZZ	B	-3.62%
AMRX	C	-3.55%
SUPN	B	-3.47%
INVA	D	-3.37%
ANIP	D	-3.12%
AMPH	F	-3.11%
PRGO	C	-3.08%
GERN	C	-2.66%

MEDX: Top Represented Industries & Keywords

Industries: Biotechnology Drug Manufacturers - Major Drug Manufacturers - Specialty & Generic Diagnostics & Research Health Information Services

PJP: Top Represented Industries & Keywords

Industries: Drug Manufacturers - Major Biotechnology Drug Manufacturers - Specialty & Generic Medical Devices Medical Distribution