RULE vs. PFI ETF Comparison

Comparison of Adaptive Core ETF (RULE) to PowerShares Dynamic Financial (PFI)

RULE

Adaptive Core ETF

RULE Description

Adaptive Core ETF seeks current income. The fund invests in individual equity securities without regard to market capitalization and ETFs that invest in equity securities of any market capitalization including convertible equity securities and fixed income ETFs. The fund’s portfolio may hold securities from issuers of any market capitalization, credit quality, maturity, or country. Fixed income securities may include securities with credit quality below investment grade (commonly referred to as “junk bond” credit quality).

Grade (RS Rating)

Last Trade

$23.31

Average Daily Volume

5,937

Number of Holdings ^*

* may have additional holdings in another (foreign) market

PFI

PowerShares Dynamic Financial

PFI Description

The PowerShares Dynamic Financial Sector Portfolio (Fund) is based on the Dynamic Financial Sector 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 financial services companies. These are companies that are principally engaged in the business of providing services and products, including banking, investment services, insurance and real estate finance services. The Fund and the Index are rebalanced and reconstituted quarterly in February, May, August and November.

Grade (RS Rating)

Last Trade

$63.14

Average Daily Volume

6,473

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	RULE	PFI
30 Days	5.63%	12.13%
60 Days	5.87%	13.64%
90 Days	6.41%	17.59%
12 Months	21.71%	50.72%

4 Overlapping Holdings

Symbol	Grade	Weight in RULE	Weight in PFI	Overlap
ARES	A	1.81%	4.16%	1.81%
FCNCA	A	2.59%	2.87%	2.59%
PGR	A	2.72%	2.06%	2.06%
V	A	2.95%	3.27%	2.95%

RULE Overweight 31 Positions Relative to PFI

Symbol	Grade	Weight
BIL	A	4.27%
JPST	A	4.26%
CRM	B	3.6%
APO	B	3.39%
WMB	A	3.07%
EQIX	A	3.05%
PCAR	B	3.04%
XLG	B	3.04%
AON	A	3.04%
SPHQ	A	3.03%
CAH	B	3.0%
VST	B	2.96%
INTU	C	2.95%
IWF	B	2.91%
FI	A	2.91%
BK	A	2.88%
PH	A	2.87%
CTAS	B	2.84%
GWW	B	2.82%
UBER	D	2.8%
NFLX	A	2.78%
HD	A	2.7%
FTNT	C	2.67%
RMD	C	2.65%
URI	B	2.57%
GPN	B	2.51%
IRM	D	2.47%
VRT	B	2.41%
IBM	C	2.35%
PAYX	C	2.18%
ADBE	C	1.94%

RULE Underweight 36 Positions Relative to PFI

Symbol	Grade	Weight
MA	C	-5.06%
AMP	A	-4.56%
KKR	A	-3.74%
JPM	A	-3.65%
HOOD	B	-2.99%
EVR	B	-2.81%
WAL	B	-2.68%
JEF	A	-2.59%
BRO	B	-2.54%
AXP	A	-2.54%
KNSL	B	-2.38%
COOP	B	-2.38%
MMC	B	-2.3%
AFL	B	-2.15%
WRB	A	-2.11%
PIPR	B	-2.08%
PRI	A	-2.07%
SPG	B	-2.0%
HLI	B	-1.95%
ICE	C	-1.85%
ACGL	D	-1.77%
JXN	C	-1.74%
SFBS	B	-1.67%
HLNE	B	-1.58%
VCTR	B	-1.55%
SLG	B	-1.54%
BGC	C	-1.54%
ENVA	B	-1.48%
MTG	C	-1.35%
BPOP	B	-1.24%
OFG	B	-1.21%
RDFN	D	-1.19%
ERIE	D	-1.16%
NMRK	B	-1.05%
TREE	F	-0.95%
UWMC	D	-0.75%