MFEM vs. KALL ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM) to KraneShares MSCI All China Index ETF (KALL)

MFEM

PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF

MFEM Description

The investment seeks to track the investment results of the RAFI Dynamic Multi-Factor Emerging Markets Index. The fund seeks to achieve its investment objective by investing at least 80% of its total assets (exclusive of collateral held from securities lending) in the component securities of the RAFI Dynamic Multi-Factor Emerging Markets Index. The underlying index is constructed by RAFI Indices, LLC using a rules-based approach to construct factor portfolios within the underlying index. The underlying index consists of factor portfolios, each of which emphasizes one of the following factors: value, low volatility, quality and momentum.

Grade (RS Rating)

Last Trade

$19.65

Average Daily Volume

11,427

Number of Holdings ^*

* may have additional holdings in another (foreign) market

KALL

KraneShares MSCI All China Index ETF

KALL Description

The investment seeks to provide investment results that correspond to the price and yield performance of the MSCI China All Shares Index. Under normal circumstances, the fund will invest at least 80% of its total assets in components of the index and depositary receipts, including ADRs, representing such components. The index is a free float adjusted market capitalization weighted index designed to track the performance of Chinese exchange-listed equity securities. The securities eligible for inclusion in the index include all types of publicly issued shares of Chinese issuers, such as A-Shares, B-Shares, H-Shares, P-Chips and Red Chips.

Grade (RS Rating)

Last Trade

$20.49

Average Daily Volume

10,054

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	MFEM	KALL
30 Days	-2.92%	-6.69%
60 Days	-0.81%	8.13%
90 Days	-1.06%	9.20%
12 Months	12.05%	8.97%

4 Overlapping Holdings

Symbol	Grade	Weight in MFEM	Weight in KALL	Overlap
PDD	F	0.25%	2.09%	0.25%
TME	D	0.46%	0.49%	0.46%
VIPS	F	0.23%	0.3%	0.23%
YUMC	C	0.1%	0.68%	0.1%

MFEM Overweight 19 Positions Relative to KALL

Symbol	Grade	Weight
SHG	D	0.68%
VALE	F	0.54%
KB	B	0.42%
CHT	D	0.4%
KT	A	0.33%
KEP	B	0.32%
SKM	D	0.27%
BCH	F	0.16%
GGB	C	0.15%
LPL	F	0.13%
BRFS	D	0.13%
SBSW	D	0.11%
SGRP	D	0.09%
FN	D	0.09%
CAR	C	0.05%
SBLK	F	0.05%
SIMO	D	0.04%
ZTO	F	0.04%
AKO.A	F	0.02%

MFEM Underweight 13 Positions Relative to KALL

Symbol	Grade	Weight
BABA	D	-4.94%
TCOM	B	-1.16%
BIDU	F	-0.81%
BEKE	D	-0.52%
LI	F	-0.46%
TAL	F	-0.34%
HTHT	D	-0.33%
NIO	F	-0.29%
BILI	D	-0.28%
QFIN	B	-0.22%
BZ	F	-0.19%
ATHM	D	-0.17%
IQ	F	-0.07%