PSR vs. HIPS ETF Comparison

Comparison of PowerShares Active U.S. Real Estate Fund (PSR) to Master Income ETF (HIPS)

PSR

PowerShares Active U.S. Real Estate Fund

PSR Description

The PowerShares Active U.S. Real Estate Fund (Fund) structures and selects its investments primarily from a universe of securities that are included within the FTSE NAREIT All Equity REITs Index at the time of purchase. The selection methodology uses quantitative and statistical metrics to identify attractively priced securities and manage risk. The Fund will invest principally in equity real estate investment trusts (REITs). The Fund is rebalanced and reconstituted monthly.

Grade (RS Rating)

Last Trade

$94.83

Average Daily Volume

2,889

Number of Holdings ^*

* may have additional holdings in another (foreign) market

HIPS

Master Income ETF

HIPS Description

The Master Income ETF seeks to track the total return performance, before fees and expenses, of the TFMS HIPS 300 Index. The Index is constructed to capture 300 high income securities, typically with pass-through structures, across the following sectors: (i) closed-end funds (“CEFs”), (ii) mortgage real estate investment trusts (“REITs”), (iii) commercial equity REITs, (iv) residential/diversified REITs, (v) asset management and business development companies (“BDCs”), and (vi) energy production and energy transportation & processing companies. Energy-related companies included in the Index are expected to primarily be structured as master limited partnerships (“MLPs”). CEFs included in the Index are limited to taxable, debt-based funds and may include CEFs that invest primarily in bank loans, high-yield securities (also known as “junk bonds”), foreign securities (including those in emerging markets), and mortgage- or asset-backed securities. The Index is constituted using proprietary methodology developed by Trust and Fiduciary Management Services, Inc. The Index Provider determines the relative weightings of the securities in the Index and publishes information regarding the market value of the Index.

Grade (RS Rating)

Last Trade

$12.96

Average Daily Volume

37,491

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	PSR	HIPS
30 Days	-2.85%	1.28%
60 Days	-3.94%	0.94%
90 Days	3.33%	3.31%
12 Months	17.83%	18.09%

1 Overlapping Holdings

	Symbol	Grade	Weight in PSR	Weight in HIPS	Overlap
	GLPI	D	2.33%	2.5%	2.33%

PSR Overweight 28 Positions Relative to HIPS

Symbol	Grade	Weight
WELL	B	8.85%
EQIX	B	8.8%
AMT	F	6.27%
BRX	A	4.99%
EQR	C	4.61%
SBAC	D	4.47%
O	D	4.29%
DLR	C	4.24%
PLD	D	3.73%
INVH	D	3.68%
CUBE	D	3.47%
SPG	A	3.28%
PSA	D	3.25%
CCI	F	3.24%
ELS	B	3.1%
ADC	A	3.03%
DOC	C	2.7%
KRC	C	2.69%
KIM	A	2.66%
EGP	D	2.32%
RYN	F	2.25%
ARE	F	2.2%
REXR	F	2.1%
ESRT	D	2.05%
FR	D	1.94%
EPRT	C	1.47%
RLJ	C	1.01%
CPT	C	0.97%

PSR Underweight 36 Positions Relative to HIPS

Symbol	Grade	Weight
BGX	D	-2.79%
LTC	B	-2.78%
JQC	A	-2.77%
JFR	A	-2.76%
ET	A	-2.73%
ARCC	A	-2.7%
BXSL	B	-2.66%
ALX	D	-2.66%
EFT	A	-2.63%
FCT	A	-2.63%
FSK	A	-2.62%
BLW	D	-2.62%
GTY	C	-2.6%
MPLX	A	-2.6%
EPD	A	-2.58%
SLRC	A	-2.58%
DMLP	B	-2.57%
GBDC	B	-2.56%
KRP	B	-2.55%
NBB	D	-2.55%
WES	C	-2.53%
FDUS	A	-2.52%
SBRA	C	-2.52%
DSU	C	-2.52%
PAA	C	-2.52%
CQP	B	-2.46%
OHI	C	-2.46%
PK	C	-2.46%
USAC	B	-2.45%
BSM	B	-2.41%
EPR	D	-2.31%
GSBD	F	-2.27%
NNN	F	-2.16%
NMFC	D	-2.15%
NHS	D	-2.04%
GNL	F	-2.0%