PEY vs. MRGR ETF Comparison

Comparison of PowerShares High Yield Dividend Achievers (PEY) to ProShares Merger ETF (MRGR)

PEY

PowerShares High Yield Dividend Achievers

PEY Description

The PowerShares High Yield Equity Dividend Achievers Portfolio (Fund) is based on the NASDAQ US Dividend AchieversTM 50 Index (Index). The Fund will normally invest at least 90% of its total assets in dividend paying common stocks that comprise the Index. The Index is comprised of 50 stocks selected principally on the basis of dividend yield and consistent growth in dividends. The Fund and the Index are reconstituted annually in January and rebalanced quarterly in January, April, July and October. Effective December 28, 2012, the NADAQ OMX Group, Inc., replaced Mergent, Inc., as the Index Provider of the Index. Effective February 25, 2013, the name of the Index changed from Mergent Dividend Achievers 50 Index to NASDAQ Dividend Achievers 50 Index. There will be no change to the methodology by which NASDAQ OMX Group, Inc., the Index Provider, calculates the Index. Please see the Fund’s prospectus supplement for more information. On February 25, 2013, NASDAQ took the place of the NYSE as the official Index data source.

Grade (RS Rating)

Last Trade

$20.24

Average Daily Volume

202,883

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

$40.60

Average Daily Volume

825

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	PEY	MRGR
30 Days	3.27%	1.49%
60 Days	-0.45%	1.61%
90 Days	4.50%	0.89%
12 Months	8.58%	7.63%

1 Overlapping Holdings

	Symbol	Grade	Weight in PEY	Weight in MRGR	Overlap
	ALE	C	1.86%	2.37%	1.86%

PEY Overweight 48 Positions Relative to MRGR

Symbol	Grade	Weight
MO	A	3.61%
FIBK	B	3.2%
UVV	D	2.86%
VZ	B	2.78%
WBA	F	2.67%
CCOI	D	2.62%
KEY	B	2.45%
TFC	A	2.45%
PFE	C	2.42%
BMY	F	2.4%
UGI	D	2.26%
WSBC	B	2.22%
PM	A	2.21%
NWN	C	2.14%
BEN	D	2.13%
RF	A	2.11%
LYB	F	2.08%
SR	B	2.04%
USB	B	2.02%
NWE	C	2.02%
AVA	D	2.0%
UPS	F	1.98%
ES	C	1.97%
MMM	B	1.96%
OGE	B	1.95%
EVRG	C	1.93%
UBSI	C	1.91%
BKH	C	1.88%
PNW	B	1.84%
BBY	B	1.83%
INDB	C	1.82%
PRU	A	1.81%
TROW	B	1.77%
POR	C	1.76%
IBM	C	1.71%
PNC	A	1.71%
PRGO	F	1.64%
FLO	F	1.62%
CVX	D	1.62%
MAN	F	1.59%
IPG	F	1.59%
KMB	A	1.59%
K	D	1.5%
SWK	D	1.47%
TRN	D	1.39%
EMN	D	1.29%
HPQ	C	1.22%
SON	F	1.17%

PEY Underweight 29 Positions Relative to MRGR

Symbol	Grade	Weight
WRK	C	-3.13%
EVBG	B	-2.98%
ETRN	D	-2.76%
HTLF	A	-2.61%
DFS	B	-2.59%
EDR	A	-2.52%
SBOW	C	-2.52%
HCP	B	-2.47%
PRFT	C	-2.47%
SILK	A	-2.46%
HIBB	A	-2.45%
DO	C	-2.44%
AMK	B	-2.44%
SQSP	B	-2.43%
ANSS	C	-2.42%
WIRE	A	-2.42%
MRO	B	-2.41%
SRCL	B	-2.38%
CERE	D	-2.37%
AXNX	B	-2.36%
IBTX	B	-2.36%
JNPR	B	-2.35%
SLCA	D	-2.34%
CTLT	B	-2.25%
HES	D	-2.17%
CHX	D	-2.07%
MGRC	D	-2.03%
HA	C	-2.01%
X	C	-1.86%