PUI vs. HDLB ETF Comparison

Comparison of PowerShares Dynamic Utilities (PUI) to ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B due September 30, 2044 (HDLB)

PUI

PowerShares Dynamic Utilities

PUI Description

The PowerShares Dynamic Utilities Portfolio (Fund) is based on the Dynamic Utilities 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 thoroughly evaluates 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 60 US utilities companies. These companies are principally engaged in providing either energy, water, natural gas or telecommunications services. The Fund and the Index are rebalanced and reconstituted quarterly in February, May, August and November.

Grade (RS Rating)

Last Trade

$42.27

Average Daily Volume

8,420

Number of Holdings ^*

* may have additional holdings in another (foreign) market

HDLB

ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B due September 30, 2044

HDLB Description

The investment seeks to provide two times leveraged long exposure to the compounded monthly performance of the Solactive US High Dividend Low Volatility Index. The index is designed to measure the performance of 40 dividend yielding, relatively lower volatility Index Constituent Securities from the universe of the largest 1,000 U.S. listed stocks by market capitalization, as described herein. The Securities seek to approximate the monthly returns that might be available to investors through a leveraged “long” investment in the index constituent securities.

Grade (RS Rating)

Last Trade

$15.47

Average Daily Volume

2,751

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	PUI	HDLB
30 Days	4.42%	4.78%
60 Days	5.25%	9.79%
90 Days	12.36%	17.43%
12 Months	38.23%	63.28%

10 Overlapping Holdings

Symbol	Grade	Weight in PUI	Weight in HDLB	Overlap
AEP	D	2.4%	2.58%	2.4%
DUK	C	3.42%	3.27%	3.27%
ED	D	2.33%	1.85%	1.85%
EIX	B	2.49%	1.34%	1.34%
FE	C	2.46%	1.42%	1.42%
NI	A	3.59%	0.91%	0.91%
PNW	B	2.72%	0.78%	0.78%
SO	D	3.05%	2.94%	2.94%
SRE	A	3.63%	1.71%	1.71%
T	A	3.27%	8.79%	3.27%

PUI Overweight 23 Positions Relative to HDLB

Symbol	Grade	Weight
VST	B	5.04%
OKE	A	4.27%
PCG	A	3.74%
LUMN	C	3.73%
ATO	A	3.65%
WEC	A	3.49%
PEG	A	3.46%
XEL	A	3.42%
CEG	D	3.41%
NRG	B	3.27%
AWK	D	3.05%
DTE	C	2.99%
CMS	C	2.98%
LNT	A	2.91%
EVRG	A	2.86%
CNP	B	2.86%
AEE	A	2.76%
IDA	A	2.68%
ES	D	2.35%
NFG	A	2.32%
NJR	A	2.29%
OTTR	C	2.15%
NOVA	F	0.87%

PUI Underweight 27 Positions Relative to HDLB

Symbol	Grade	Weight
PFE	D	-13.4%
ABBV	D	-9.8%
VZ	C	-9.25%
GILD	C	-5.14%
IBM	C	-5.12%
PM	B	-3.83%
MO	A	-3.18%
D	C	-2.76%
O	D	-2.51%
VICI	C	-1.93%
KHC	F	-1.93%
ETR	B	-1.73%
PPL	B	-1.48%
K	A	-1.47%
NLY	C	-1.43%
IP	B	-1.22%
MPW	F	-1.04%
AGNC	D	-1.03%
WPC	D	-0.76%
WU	D	-0.73%
ARCC	A	-0.46%
GLPI	C	-0.44%
OGE	B	-0.43%
STAG	F	-0.4%
FSK	A	-0.25%
KD	B	-0.14%
ONL	C	-0.07%