PFM vs. FVAL ETF Comparison

Comparison of PowerShares Dividend Achievers (PFM) to Fidelity Value Factor ETF (FVAL)

PFM

PowerShares Dividend Achievers

PFM Description

The PowerShares Dividend AchieversTM Portfolio (Fund) seeks to replicate, before fees and expenses, the NASDAQ US Broad Dividend AchieversTM Index (Index), which is designed to identify a diversified group of dividend-paying companies. The Fund will normally invest at least 90% of its total assets in dividend paying common stocks that comprise Index. These companies have increased their annual dividend for 10 or more consecutive fiscal years. 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 Broad Dividend Achievers Index to NASDAQ US Broad Dividend Achievers 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

$46.40

Average Daily Volume

27,422

Number of Holdings ^*

418

* may have additional holdings in another (foreign) market

FVAL

Fidelity Value Factor ETF

FVAL Description

The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity U.S. Value Factor Index. Normally investing at least 80% of assets in securities included in the Fidelity U.S. Value Factor Index, which is designed to reflect the performance of stocks of large and mid-capitalization U.S. companies that have attractive valuations.

Grade (RS Rating)

Last Trade

$60.22

Average Daily Volume

55,847

Number of Holdings ^*

124

* may have additional holdings in another (foreign) market

Performance

Period	PFM	FVAL
30 Days	3.29%	2.44%
60 Days	5.70%	2.80%
90 Days	8.12%	5.00%
12 Months	25.25%	24.77%

54 Overlapping Holdings

Symbol	Grade	Weight in PFM	Weight in FVAL	Overlap
AAPL	C	4.29%	6.96%	4.29%
ABBV	C	1.52%	1.38%	1.38%
ACN	C	0.97%	1.2%	0.97%
ADM	D	0.13%	0.41%	0.13%
ADP	B	0.5%	0.63%	0.5%
AEP	C	0.24%	0.3%	0.24%
AGCO	D	0.03%	0.39%	0.03%
ARE	C	0.09%	0.2%	0.09%
BAC	D	1.34%	0.99%	0.99%
BMY	C	0.43%	0.9%	0.43%
CAT	B	0.73%	0.73%	0.73%
CMCSA	D	0.68%	0.59%	0.59%
CMI	C	0.18%	0.46%	0.18%
CVX	D	1.14%	0.62%	0.62%
DFS	B	0.14%	0.53%	0.14%
DUK	C	0.4%	0.37%	0.37%
ELV	C	0.56%	0.97%	0.56%
HD	B	1.64%	1.2%	1.2%
HON	D	0.59%	0.64%	0.59%
IBM	B	0.86%	1.2%	0.86%
JNJ	C	1.75%	1.49%	1.49%
JPM	D	2.62%	1.62%	1.62%
KMB	D	0.21%	0.46%	0.21%
KR	C	0.18%	0.43%	0.18%
LIN	B	0.99%	0.58%	0.58%
LMT	C	0.6%	0.63%	0.6%
LYB	D	0.14%	0.18%	0.14%
MCD	B	0.93%	0.9%	0.9%
MMM	B	0.32%	0.55%	0.32%
MO	C	0.4%	0.55%	0.4%
MRK	D	1.29%	1.28%	1.28%
MSFT	C	3.81%	6.96%	3.81%
NEE	C	0.76%	0.54%	0.54%
NFG	B	0.02%	0.2%	0.02%
NUE	F	0.15%	0.19%	0.15%
O	C	0.24%	0.26%	0.24%
OZK	D	0.02%	0.46%	0.02%
PG	C	1.81%	1.17%	1.17%
PLD	C	0.53%	0.38%	0.38%
PRU	C	0.18%	0.54%	0.18%
QCOM	D	0.81%	1.1%	0.81%
RHI	D	0.03%	0.4%	0.03%
RNR	C	0.06%	0.57%	0.06%
STLD	F	0.08%	0.15%	0.08%
TGT	C	0.3%	0.5%	0.3%
TRV	C	0.24%	0.65%	0.24%
UGI	C	0.02%	0.19%	0.02%
UNH	C	2.39%	1.78%	1.78%
UNP	C	0.67%	0.68%	0.67%
UPS	D	0.41%	0.55%	0.41%
V	C	1.99%	1.4%	1.4%
VZ	B	0.82%	0.68%	0.68%
WMT	C	2.84%	1.08%	1.08%
XOM	C	2.21%	1.12%	1.12%

PFM Overweight 364 Positions Relative to FVAL

Symbol	Grade	Weight
AVGO	C	3.37%
MA	B	2.01%
ORCL	C	1.96%
COST	B	1.79%
KO	C	1.36%
PEP	C	1.08%
ABT	C	0.9%
DHR	B	0.89%
CSCO	C	0.88%
PM	C	0.86%
INTU	C	0.8%
TXN	C	0.79%
AMGN	B	0.78%
PFE	C	0.73%
SPGI	B	0.72%
RTX	C	0.71%
MS	D	0.69%
GS	C	0.68%
LOW	B	0.64%
SYK	C	0.62%
BLK	B	0.58%
ETN	C	0.54%
MDT	C	0.53%
CB	B	0.52%
SBUX	C	0.5%
MMC	C	0.5%
ADI	C	0.49%
AMT	C	0.49%
KLAC	D	0.44%
MDLZ	B	0.44%
SO	B	0.43%
NKE	D	0.42%
SHW	B	0.42%
ICE	C	0.41%
CL	D	0.39%
MCO	B	0.39%
ZTS	C	0.38%
GD	B	0.37%
WM	D	0.37%
CTAS	B	0.37%
TT	B	0.36%
CME	C	0.35%
APH	D	0.34%
NOC	B	0.34%
ITW	C	0.33%
AON	B	0.33%
ECL	B	0.32%
MSI	B	0.32%
PNC	B	0.31%
BDX	D	0.3%
USB	B	0.3%
AJG	D	0.29%
CSX	D	0.29%
MCK	F	0.29%
EPD	B	0.28%
RSG	D	0.28%
AFL	C	0.27%
APD	B	0.27%
EMR	D	0.26%
ROP	C	0.26%
TFC	C	0.25%
MET	B	0.24%
BK	B	0.23%
SRE	C	0.23%
PSX	F	0.23%
GWW	B	0.22%
ALL	B	0.22%
PAYX	C	0.21%
NDAQ	A	0.19%
AMP	A	0.19%
LHX	C	0.19%
MPLX	B	0.19%
TEL	D	0.19%
FAST	C	0.18%
A	C	0.18%
MCHP	F	0.18%
PEG	B	0.18%
EXR	B	0.17%
SYY	D	0.17%
HUM	F	0.17%
XEL	B	0.16%
ED	C	0.16%
GLW	C	0.16%
RMD	C	0.16%
HIG	B	0.15%
VMC	D	0.14%
XYL	C	0.14%
HPQ	D	0.14%
EIX	C	0.14%
FITB	B	0.13%
AWK	B	0.13%
BRO	C	0.13%
HSY	C	0.13%
ROK	D	0.13%
PPG	D	0.13%
CDW	D	0.13%
WEC	C	0.13%
TSCO	C	0.13%
CAH	C	0.12%
K	B	0.12%
ES	C	0.11%
RJF	C	0.11%
STE	C	0.11%
BR	D	0.11%
STT	A	0.11%
CHD	D	0.11%
DOV	B	0.11%
DTE	C	0.11%
WST	D	0.1%
CBOE	C	0.1%
AEE	C	0.1%
WRB	C	0.1%
TROW	D	0.1%
ERIE	B	0.1%
ESS	B	0.09%
BAH	C	0.09%
RF	B	0.09%
ATO	B	0.09%
CLX	C	0.09%
LII	B	0.09%
MKC	C	0.09%
CMS	C	0.09%
BBY	C	0.09%
CINF	B	0.09%
HUBB	B	0.09%
EXPD	C	0.08%
DGX	B	0.08%
HRL	C	0.08%
MAS	B	0.08%
JBHT	D	0.08%
AVY	C	0.08%
WSM	D	0.08%
WLK	D	0.08%
TSN	C	0.08%
PKG	B	0.08%
PFG	B	0.08%
GPC	D	0.08%
MAA	B	0.08%
CSL	B	0.08%
IEX	D	0.07%
KEY	B	0.07%
NI	B	0.07%
SWK	B	0.07%
LNT	B	0.07%
RPM	B	0.07%
UDR	C	0.07%
RS	D	0.07%
FNF	B	0.07%
WSO	C	0.07%
FDS	C	0.07%
SJM	C	0.06%
JKHY	B	0.06%
AES	C	0.06%
CE	F	0.06%
MORN	C	0.06%
POOL	C	0.06%
REG	C	0.06%
EVRG	B	0.06%
GGG	C	0.06%
RGA	C	0.06%
ELS	C	0.06%
HEI	B	0.06%
CASY	D	0.06%
NDSN	C	0.06%
DPZ	F	0.06%
SNA	C	0.06%
BEN	F	0.05%
CHDN	C	0.05%
ALB	D	0.05%
UNM	B	0.05%
WTRG	D	0.05%
REXR	C	0.05%
ITT	B	0.05%
AFG	B	0.05%
IPG	C	0.05%
CHRW	B	0.05%
SCI	B	0.05%
EMN	B	0.05%
FIX	B	0.05%
CUBE	B	0.05%
OGE	C	0.04%
DCI	C	0.04%
ENSG	B	0.04%
TTC	D	0.04%
CHE	C	0.04%
SEIC	C	0.04%
PRI	B	0.04%
NNN	C	0.04%
EGP	B	0.04%
INGR	B	0.04%
EVR	A	0.04%
RGLD	C	0.04%
ORI	B	0.04%
GL	C	0.04%
AOS	D	0.04%
MKTX	C	0.04%
RRX	C	0.04%
AIZ	B	0.04%
LECO	F	0.04%
ATR	B	0.04%
PNW	C	0.04%
HII	D	0.04%
CBT	B	0.03%
BMI	A	0.03%
R	A	0.03%
LFUS	C	0.03%
WTFC	B	0.03%
OSK	F	0.03%
AXS	B	0.03%
BOKF	B	0.03%
TRNO	C	0.03%
ZION	D	0.03%
FAF	B	0.03%
MSA	D	0.03%
CFR	C	0.03%
RLI	B	0.03%
SSB	B	0.03%
STAG	C	0.03%
PB	B	0.03%
UFPI	C	0.03%
FR	B	0.03%
LAD	D	0.03%
SSD	D	0.03%
WBA	F	0.03%
ADC	C	0.03%
AIT	A	0.03%
CBSH	C	0.03%
CCOI	C	0.02%
WDFC	C	0.02%
CNO	B	0.02%
SR	B	0.02%
PRGO	D	0.02%
KAI	C	0.02%
IBOC	D	0.02%
BKH	B	0.02%
DDS	F	0.02%
AVNT	B	0.02%
ASH	D	0.02%
AGO	C	0.02%
FUL	C	0.02%
PII	D	0.02%
FELE	C	0.02%
CNS	B	0.02%
MATX	B	0.02%
AVT	C	0.02%
NJR	B	0.02%
AL	D	0.02%
POR	C	0.02%
GATX	D	0.02%
FLO	C	0.02%
LANC	D	0.02%
UBSI	B	0.02%
UMBF	B	0.02%
SWX	C	0.02%
FFIN	B	0.02%
BC	C	0.02%
THG	B	0.02%
WTS	C	0.02%
MDU	C	0.02%
IDA	C	0.02%
THO	D	0.02%
EXPO	A	0.02%
SON	C	0.02%
SLGN	B	0.02%
HOMB	B	0.02%
BCPC	C	0.02%
NXST	D	0.02%
SIGI	D	0.02%
TKR	D	0.02%
CADE	C	0.02%
UVV	D	0.01%
WABC	D	0.01%
LNN	D	0.01%
TR	C	0.01%
CSGS	C	0.01%
HMN	D	0.01%
TCBK	D	0.01%
APOG	B	0.01%
SRCE	C	0.01%
NWN	C	0.01%
ANDE	D	0.01%
STBA	B	0.01%
LKFN	C	0.01%
SCL	D	0.01%
SYBT	A	0.01%
GTY	B	0.01%
TNC	F	0.01%
CHCO	B	0.01%
AGM	D	0.01%
WSBC	D	0.01%
DKL	C	0.01%
SJW	C	0.01%
HI	F	0.01%
NHC	D	0.01%
LMAT	C	0.01%
SXI	C	0.01%
NBTB	D	0.01%
FRME	D	0.01%
MTRN	F	0.01%
WOR	D	0.01%
HNI	C	0.01%
TOWN	B	0.01%
HWKN	C	0.01%
INDB	C	0.01%
TRN	D	0.01%
SFNC	B	0.01%
ABR	B	0.01%
CPK	B	0.01%
IOSP	D	0.01%
WAFD	C	0.01%
AVA	C	0.01%
KWR	D	0.01%
AWR	B	0.01%
CBU	C	0.01%
FIBK	B	0.01%
WSFS	D	0.01%
CWT	C	0.01%
ASB	D	0.01%
ABM	D	0.01%
MGEE	B	0.01%
OTTR	F	0.01%
JJSF	C	0.01%
NSP	F	0.01%
BRC	C	0.01%
GFF	D	0.01%
POWI	F	0.01%
AUB	D	0.01%
MAN	C	0.01%
BANF	B	0.01%
NWE	B	0.01%
FLIC	B	0.0%
BMRC	C	0.0%
JOUT	D	0.0%
ODC	C	0.0%
ARTNA	D	0.0%
HVT	D	0.0%
CTO	C	0.0%
AROW	D	0.0%
THFF	B	0.0%
HIFS	B	0.0%
WASH	A	0.0%
YORW	D	0.0%
CASS	C	0.0%
SMBC	C	0.0%
PLOW	C	0.0%
UHT	B	0.0%
GSBC	D	0.0%
HBNC	B	0.0%
MBWM	D	0.0%
MATW	F	0.0%
MNRO	D	0.0%
SPTN	C	0.0%
HFWA	C	0.0%
FCBC	A	0.0%
TMP	C	0.0%
HY	F	0.0%
PFC	C	0.0%
CTBI	B	0.0%
AMSF	C	0.0%
GRC	D	0.0%
SBSI	B	0.0%
SCVL	B	0.0%
GABC	C	0.0%
MSEX	C	0.0%

PFM Underweight 70 Positions Relative to FVAL

Symbol	Grade	Weight
NVDA	D	-6.47%
AMZN	C	-3.76%
GOOGL	D	-3.57%
META	B	-2.54%
BRK.A	C	-2.08%
CRM	D	-1.21%
CI	C	-0.96%
GILD	B	-0.95%
ZM	C	-0.86%
MU	F	-0.84%
WFC	D	-0.81%
CVS	D	-0.81%
CTSH	C	-0.8%
AXP	B	-0.79%
CNC	D	-0.75%
BKNG	C	-0.73%
SWKS	D	-0.72%
RPRX	C	-0.7%
HPE	D	-0.69%
C	C	-0.66%
INTC	F	-0.65%
T	C	-0.63%
DE	B	-0.62%
GM	C	-0.57%
COF	B	-0.57%
EBAY	B	-0.56%
EG	C	-0.54%
KVUE	C	-0.53%
F	F	-0.52%
EXPE	C	-0.52%
SYF	C	-0.51%
JXN	A	-0.49%
FDX	C	-0.49%
UAL	C	-0.48%
LVS	D	-0.48%
DAL	C	-0.47%
PCAR	D	-0.47%
G	C	-0.45%
WYNN	D	-0.45%
M	F	-0.4%
COP	D	-0.39%
OC	D	-0.37%
ACI	F	-0.36%
BG	D	-0.36%
PSA	B	-0.29%
PARA	F	-0.29%
EOG	D	-0.29%
EXC	C	-0.28%
PCG	C	-0.28%
MPC	F	-0.27%
NEM	B	-0.27%
SPG	B	-0.26%
ATKR	F	-0.26%
FCX	D	-0.25%
NRG	C	-0.24%
VICI	C	-0.23%
CBRE	A	-0.22%
VLO	F	-0.22%
DOW	D	-0.2%
WPC	C	-0.19%
BXP	B	-0.19%
DVN	F	-0.19%
HST	C	-0.18%
GLPI	C	-0.18%
CF	C	-0.17%
JLL	B	-0.17%
MUR	F	-0.15%
CIVI	F	-0.14%
MOS	F	-0.14%
CLF	F	-0.12%