RING vs. KEAT ETF Comparison

Comparison of iShares MSCI Global Gold Miners Fund (RING) to Keating Active ETF (KEAT)

RING

iShares MSCI Global Gold Miners Fund

RING Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI ACWI Select Gold Miners Investable Market Index (the "underlying index"). The fund generally invests at least 80% of its assets in securities of the underlying index or in depositary receipts representing securities in the underlying index. The underlying index has been developed by MSCI Inc. ("MSCI") to measure the combined performance of equity securities of companies primarily engaged in the business of gold mining in both developed and emerging markets. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$29.45

Average Daily Volume

94,634

Number of Holdings ^*

* may have additional holdings in another (foreign) market

KEAT

Keating Active ETF

KEAT Description

KEAT actively invests in equity securities of all-cap companies considered undervalued based on the subadvisor's fundamental research. These securities include common stock, preferred stock, REITs, ADRs, and GDRs. The fund also considers and invests in international ETFs in the same manner it selects its individual securities. The sub-adviser initially identifies potential investment opportunities through public disclosures, and assesses their financial condition based on sustainable earnings and future cash flows through financial and strategic analyses. The portfolio will typically be comprised of 25 to 40 securities, all selected to offer exceptional value and have defensible positions. The fund also emphasizes companies with good shareholder yield. It intends to hold its positions for a year or more and sells them when it reaches its fair value or has become overvalued. KEAT may also hold short-term Treasurys in seeking total return.

Grade (RS Rating)

Last Trade

$25.05

Average Daily Volume

3,856

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	RING	KEAT
30 Days	6.35%	-0.17%
60 Days	8.14%	0.01%
90 Days	9.21%	-1.43%
12 Months	33.09%

1 Overlapping Holdings

	Symbol	Grade	Weight in RING	Weight in KEAT	Overlap
	GOLD	B	11.8%	3.87%	3.87%

RING Overweight 5 Positions Relative to KEAT

Symbol	Grade	Weight
NEM	A	20.03%
AU	A	4.75%
BVN	C	1.69%
CDE	A	1.52%
IAG	C	1.44%

RING Underweight 7 Positions Relative to KEAT

Symbol	Grade	Weight
STIP	A	-29.06%
TTE	C	-3.55%
EQC	C	-3.54%
OII	B	-3.45%
LBTYK	C	-3.28%
LMT	C	-2.93%
VZ	B	-2.88%

RING: Top Represented Industries & Keywords

Industries: Gold Industrial Metals & Minerals

Keywords: Mining Gold Copper Acid Electrical Transmission Gold Mining Iamgold Lead Metals S&P 500 Silver Silver Mining In The United States Sulfur Uranium Zinc

KEAT: Top Represented Industries & Keywords

Industries: Aerospace & Defense Gold Oil & Gas Equipment & Services Oil & Gas Integrated Pay TV REIT - Office Telecom Services