SMDY vs. PFM ETF Comparison

Comparison of Syntax Stratified MidCap ETF (SMDY) to PowerShares Dividend Achievers (PFM)

SMDY

Syntax Stratified MidCap ETF

SMDY Description

The investment seeks to provide investment results that, before expenses, correspond generally to the total return performance of publicly traded equity securities of companies comprising the Syntax Stratified MidCap Index. Under normal market conditions, the fund generally invests substantially all, and at least 95%, of its total assets in the securities comprising the index. The index, which was created by Syntax LLC, an affiliate of the fund's investment adviser, is the stratified-weight version of the widely used S&P MidCap 400® Index and holds the same constituents as the S&P MidCap 400 Index.

Grade (RS Rating)

Last Trade

$45.06

Average Daily Volume

467

Number of Holdings ^*

391

* may have additional holdings in another (foreign) market

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

Performance

Period	SMDY	PFM
30 Days	2.98%	3.29%
60 Days	3.03%	5.70%
90 Days	6.15%	8.12%
12 Months	21.46%	25.25%

100 Overlapping Holdings

Symbol	Grade	Weight in SMDY	Weight in PFM	Overlap
ADC	C	0.08%	0.03%	0.03%
AFG	B	0.18%	0.05%	0.05%
AGCO	D	0.24%	0.03%	0.03%
AIT	A	0.07%	0.03%	0.03%
ASB	D	0.43%	0.01%	0.01%
ASH	D	0.09%	0.02%	0.02%
ATR	B	0.09%	0.04%	0.04%
AVNT	B	0.1%	0.02%	0.02%
AVT	C	0.07%	0.02%	0.02%
BC	C	0.22%	0.02%	0.02%
BKH	B	0.24%	0.02%	0.02%
CADE	C	0.07%	0.02%	0.02%
CASY	D	0.2%	0.06%	0.06%
CBSH	C	0.13%	0.03%	0.03%
CBT	B	0.1%	0.03%	0.03%
CFR	C	0.13%	0.03%	0.03%
CHDN	C	0.13%	0.05%	0.05%
CHE	C	0.24%	0.04%	0.04%
CNO	B	0.42%	0.02%	0.02%
CSL	B	0.08%	0.08%	0.08%
CUBE	B	0.22%	0.05%	0.05%
DCI	C	0.09%	0.04%	0.04%
EGP	B	0.08%	0.04%	0.04%
ELS	C	0.22%	0.06%	0.06%
ERIE	B	0.46%	0.1%	0.1%
EVR	A	0.17%	0.04%	0.04%
EXPO	A	0.16%	0.02%	0.02%
FAF	B	0.34%	0.03%	0.03%
FFIN	B	0.08%	0.02%	0.02%
FIX	B	0.14%	0.05%	0.05%
FLO	C	0.3%	0.02%	0.02%
FNF	B	0.35%	0.07%	0.07%
FR	B	0.09%	0.03%	0.03%
GATX	D	0.15%	0.02%	0.02%
GGG	C	0.1%	0.06%	0.06%
HOMB	B	0.07%	0.02%	0.02%
IBOC	D	0.07%	0.02%	0.02%
IDA	C	0.28%	0.02%	0.02%
INGR	B	0.33%	0.04%	0.04%
ITT	B	0.07%	0.05%	0.05%
LAD	D	0.5%	0.03%	0.03%
LANC	D	0.26%	0.02%	0.02%
LECO	F	0.29%	0.04%	0.04%
LFUS	C	0.22%	0.03%	0.03%
LII	B	0.16%	0.09%	0.09%
MAN	C	0.14%	0.01%	0.01%
MDU	C	0.13%	0.02%	0.02%
MORN	C	0.32%	0.06%	0.06%
MSA	D	0.28%	0.03%	0.03%
NFG	B	0.24%	0.02%	0.02%
NJR	B	0.23%	0.02%	0.02%
NNN	C	0.07%	0.04%	0.04%
NSP	F	0.28%	0.01%	0.01%
NWE	B	0.27%	0.01%	0.01%
NXST	D	0.32%	0.02%	0.02%
OGE	C	0.28%	0.04%	0.04%
ORI	B	0.2%	0.04%	0.04%
OSK	F	0.28%	0.03%	0.03%
OZK	D	0.07%	0.02%	0.02%
PB	B	0.08%	0.03%	0.03%
PII	D	0.23%	0.02%	0.02%
POR	C	0.28%	0.02%	0.02%
POWI	F	0.39%	0.01%	0.01%
PRGO	D	0.44%	0.02%	0.02%
PRI	B	0.39%	0.04%	0.04%
R	A	0.17%	0.03%	0.03%
REXR	C	0.09%	0.05%	0.05%
RGA	C	0.31%	0.06%	0.06%
RGLD	C	0.18%	0.04%	0.04%
RLI	B	0.18%	0.03%	0.03%
RNR	C	0.34%	0.06%	0.06%
RPM	B	0.1%	0.07%	0.07%
RRX	C	0.08%	0.04%	0.04%
RS	D	0.16%	0.07%	0.07%
SCI	B	0.23%	0.05%	0.05%
SEIC	C	0.3%	0.04%	0.04%
SIGI	D	0.16%	0.02%	0.02%
SLGN	B	0.06%	0.02%	0.02%
SON	C	0.05%	0.02%	0.02%
SR	B	0.24%	0.02%	0.02%
SSB	B	0.08%	0.03%	0.03%
SSD	D	0.09%	0.03%	0.03%
STAG	C	0.09%	0.03%	0.03%
SWX	C	0.21%	0.02%	0.02%
THG	B	0.2%	0.02%	0.02%
THO	D	0.25%	0.02%	0.02%
TKR	D	0.08%	0.02%	0.02%
TTC	D	0.27%	0.04%	0.04%
UBSI	B	0.07%	0.02%	0.02%
UFPI	C	0.06%	0.03%	0.03%
UGI	C	0.24%	0.02%	0.02%
UMBF	B	0.14%	0.02%	0.02%
UNM	B	0.37%	0.05%	0.05%
WLK	D	0.09%	0.08%	0.08%
WSM	D	0.19%	0.08%	0.08%
WSO	C	0.06%	0.07%	0.06%
WTFC	B	0.13%	0.03%	0.03%
WTRG	D	0.23%	0.05%	0.05%
WTS	C	0.1%	0.02%	0.02%
ZION	D	0.07%	0.03%	0.03%

SMDY Overweight 291 Positions Relative to PFM

Symbol	Grade	Weight
SMG	C	1.82%
COTY	F	1.64%
DOCS	B	1.37%
CIEN	C	1.35%
FYBR	C	1.28%
LITE	B	1.28%
IRDM	D	1.18%
ZD	D	0.97%
DT	C	0.83%
OHI	B	0.7%
SBRA	C	0.68%
QLYS	F	0.68%
ACHC	C	0.68%
THC	A	0.67%
LNW	B	0.67%
ARMK	B	0.63%
COKE	C	0.59%
TXRH	C	0.57%
WEN	C	0.56%
WING	B	0.54%
UTHR	C	0.52%
HALO	C	0.51%
DLB	D	0.51%
CRUS	D	0.51%
EXEL	C	0.49%
PAG	D	0.49%
POST	C	0.49%
AMKR	F	0.48%
ILMN	C	0.47%
BMRN	F	0.46%
TOL	B	0.45%
TMHC	A	0.45%
WBS	D	0.45%
KBH	A	0.45%
AN	D	0.45%
SRPT	D	0.45%
MTSI	D	0.43%
RGEN	F	0.43%
BRBR	C	0.43%
CYTK	F	0.42%
GMED	D	0.42%
PSTG	F	0.41%
SF	A	0.41%
SLAB	D	0.41%
JAZZ	D	0.4%
IBKR	B	0.4%
CVLT	B	0.39%
ONTO	D	0.39%
PPC	D	0.38%
SFM	B	0.38%
ALGM	F	0.38%
ENOV	D	0.38%
NBIX	F	0.38%
NVST	D	0.38%
MKSI	F	0.37%
ARWR	F	0.37%
HRB	C	0.36%
PCTY	C	0.36%
LIVN	D	0.36%
BHF	F	0.36%
KMPR	D	0.36%
SYNA	F	0.36%
MTG	B	0.35%
BURL	B	0.34%
MEDP	F	0.34%
MANH	B	0.34%
AZTA	F	0.34%
HAE	F	0.34%
EQH	C	0.34%
DBX	D	0.34%
CPRI	D	0.33%
LSCC	D	0.33%
BLKB	C	0.33%
AMG	C	0.33%
ESNT	B	0.33%
WEX	C	0.32%
JHG	B	0.32%
MIDD	D	0.32%
TKO	B	0.32%
USFD	B	0.32%
DAR	F	0.32%
RMBS	F	0.32%
APPF	D	0.31%
CAR	F	0.31%
ESAB	C	0.31%
NYT	C	0.31%
JWN	C	0.31%
PFGC	B	0.31%
TGNA	D	0.31%
FHI	A	0.31%
GHC	B	0.31%
DUOL	B	0.3%
CRI	D	0.3%
MMS	C	0.3%
LOPE	D	0.3%
DKS	D	0.3%
SAM	F	0.29%
TEX	F	0.29%
COLM	C	0.29%
WU	F	0.29%
SLM	D	0.28%
ALTR	C	0.28%
CG	D	0.28%
EEFT	D	0.28%
VOYA	B	0.28%
SKX	D	0.27%
PNM	B	0.27%
HQY	C	0.27%
ALLY	F	0.27%
ST	D	0.27%
CROX	D	0.26%
BJ	D	0.26%
GAP	F	0.26%
CELH	F	0.26%
OPCH	C	0.26%
OGS	B	0.25%
HOG	C	0.25%
ALE	B	0.25%
EHC	C	0.25%
TDC	F	0.25%
WMG	D	0.25%
VNT	F	0.25%
G	C	0.24%
PLNT	B	0.24%
CGNX	F	0.24%
ORA	C	0.24%
M	F	0.24%
PVH	F	0.24%
DTM	B	0.24%
AMED	C	0.24%
ZI	D	0.24%
CNXC	F	0.24%
SHC	C	0.23%
GME	F	0.23%
MUSA	D	0.23%
EXLS	B	0.23%
SAIC	C	0.22%
AM	C	0.22%
NSA	B	0.22%
OLLI	C	0.22%
IRT	B	0.22%
IPGP	F	0.22%
ELF	F	0.21%
ENS	D	0.21%
CACI	B	0.21%
RYAN	D	0.21%
PEN	D	0.21%
JEF	B	0.21%
AYI	B	0.21%
AMH	C	0.21%
KEX	C	0.21%
KNSL	C	0.2%
PGNY	F	0.2%
LNTH	D	0.2%
VC	F	0.2%
XPO	D	0.19%
BCO	B	0.19%
KNX	C	0.19%
GNTX	F	0.19%
FIVE	D	0.19%
DINO	F	0.19%
UAA	C	0.18%
CLH	A	0.18%
AVTR	B	0.18%
FLR	D	0.18%
XRAY	D	0.18%
RBA	B	0.18%
TPX	C	0.17%
CMC	D	0.17%
RH	B	0.17%
HLI	B	0.17%
WHR	D	0.17%
NOV	F	0.17%
MAT	C	0.17%
KD	D	0.17%
CHX	F	0.17%
NVT	D	0.17%
UA	D	0.17%
ANF	D	0.17%
LSTR	D	0.17%
JLL	B	0.17%
SRCL	A	0.17%
GXO	D	0.17%
BRKR	D	0.16%
ACM	B	0.16%
TTEK	C	0.16%
X	F	0.16%
RCM	C	0.16%
PBF	F	0.16%
SAIA	D	0.15%
WFRD	F	0.15%
ASGN	D	0.15%
FCN	D	0.15%
KBR	D	0.15%
GLPI	C	0.15%
YETI	D	0.15%
MP	D	0.15%
PCH	C	0.14%
BLD	D	0.14%
VAL	F	0.14%
EXP	B	0.14%
MTZ	B	0.14%
KNF	B	0.14%
BYD	C	0.14%
FND	C	0.14%
NEOG	D	0.14%
VNO	B	0.13%
TCBI	B	0.13%
BDC	B	0.13%
EME	B	0.13%
LPX	B	0.13%
MASI	F	0.13%
AA	D	0.13%
RYN	C	0.13%
NOVT	D	0.13%
HWC	D	0.13%
CLF	F	0.13%
CUZ	B	0.12%
COHR	C	0.12%
FHN	D	0.12%
LEA	F	0.11%
KRC	B	0.11%
CHH	C	0.11%
OLED	C	0.11%
TREX	D	0.11%
PK	D	0.1%
ALV	F	0.1%
TNL	D	0.1%
FLS	D	0.1%
MTN	D	0.1%
AXTA	B	0.1%
WH	B	0.1%
VSH	F	0.1%
RBC	C	0.09%
HGV	F	0.09%
HXL	F	0.09%
NEU	D	0.09%
ADNT	F	0.09%
VVV	D	0.09%
H	C	0.09%
KRG	B	0.08%
GTLS	F	0.08%
MSM	D	0.08%
CR	C	0.08%
BWXT	D	0.08%
VLY	C	0.08%
BRX	B	0.08%
GT	F	0.08%
CNX	B	0.08%
PNFP	B	0.08%
GBCI	B	0.08%
OLN	D	0.08%
VAC	F	0.08%
COLB	B	0.08%
WMS	D	0.08%
CW	B	0.08%
AAON	B	0.08%
VMI	D	0.08%
WPC	C	0.08%
HELE	D	0.08%
WWD	D	0.07%
PR	F	0.07%
CACC	F	0.07%
SNX	D	0.07%
MUR	F	0.07%
CNM	F	0.07%
MTDR	F	0.07%
LAMR	B	0.07%
FNB	C	0.07%
EWBC	D	0.07%
CC	F	0.07%
ARW	C	0.07%
OC	D	0.07%
SNV	C	0.07%
EPR	B	0.07%
ONB	C	0.07%
TPL	B	0.07%
AR	F	0.06%
GPK	B	0.06%
RRC	D	0.06%
CHK	D	0.06%
CHRD	F	0.06%
CCK	A	0.06%
BERY	B	0.06%
SWN	D	0.06%
CIVI	F	0.06%
STWD	B	0.06%
OVV	F	0.06%
WCC	D	0.06%
GEF	D	0.05%
WOLF	F	0.04%

SMDY Underweight 318 Positions Relative to PFM

Symbol	Grade	Weight
AAPL	C	-4.29%
MSFT	C	-3.81%
AVGO	C	-3.37%
WMT	C	-2.84%
JPM	D	-2.62%
UNH	C	-2.39%
XOM	C	-2.21%
MA	B	-2.01%
V	C	-1.99%
ORCL	C	-1.96%
PG	C	-1.81%
COST	B	-1.79%
JNJ	C	-1.75%
HD	B	-1.64%
ABBV	C	-1.52%
KO	C	-1.36%
BAC	D	-1.34%
MRK	D	-1.29%
CVX	D	-1.14%
PEP	C	-1.08%
LIN	B	-0.99%
ACN	C	-0.97%
MCD	B	-0.93%
ABT	C	-0.9%
DHR	B	-0.89%
CSCO	C	-0.88%
PM	C	-0.86%
IBM	B	-0.86%
VZ	B	-0.82%
QCOM	D	-0.81%
INTU	C	-0.8%
TXN	C	-0.79%
AMGN	B	-0.78%
NEE	C	-0.76%
PFE	C	-0.73%
CAT	B	-0.73%
SPGI	B	-0.72%
RTX	C	-0.71%
MS	D	-0.69%
GS	C	-0.68%
CMCSA	D	-0.68%
UNP	C	-0.67%
LOW	B	-0.64%
SYK	C	-0.62%
LMT	C	-0.6%
HON	D	-0.59%
BLK	B	-0.58%
ELV	C	-0.56%
ETN	C	-0.54%
MDT	C	-0.53%
PLD	C	-0.53%
CB	B	-0.52%
SBUX	C	-0.5%
MMC	C	-0.5%
ADP	B	-0.5%
ADI	C	-0.49%
AMT	C	-0.49%
KLAC	D	-0.44%
MDLZ	B	-0.44%
SO	B	-0.43%
BMY	C	-0.43%
NKE	D	-0.42%
SHW	B	-0.42%
ICE	C	-0.41%
UPS	D	-0.41%
DUK	C	-0.4%
MO	C	-0.4%
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%
MMM	B	-0.32%
MSI	B	-0.32%
PNC	B	-0.31%
BDX	D	-0.3%
USB	B	-0.3%
TGT	C	-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%
TRV	C	-0.24%
AEP	C	-0.24%
O	C	-0.24%
BK	B	-0.23%
SRE	C	-0.23%
PSX	F	-0.23%
GWW	B	-0.22%
ALL	B	-0.22%
KMB	D	-0.21%
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%
KR	C	-0.18%
CMI	C	-0.18%
MCHP	F	-0.18%
PEG	B	-0.18%
PRU	C	-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%
NUE	F	-0.15%
HIG	B	-0.15%
LYB	D	-0.14%
VMC	D	-0.14%
XYL	C	-0.14%
HPQ	D	-0.14%
DFS	B	-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%
ADM	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%
ESS	B	-0.09%
BAH	C	-0.09%
RF	B	-0.09%
ATO	B	-0.09%
CLX	C	-0.09%
MKC	C	-0.09%
CMS	C	-0.09%
BBY	C	-0.09%
CINF	B	-0.09%
ARE	C	-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%
STLD	F	-0.08%
AVY	C	-0.08%
TSN	C	-0.08%
PKG	B	-0.08%
PFG	B	-0.08%
GPC	D	-0.08%
MAA	B	-0.08%
IEX	D	-0.07%
KEY	B	-0.07%
NI	B	-0.07%
SWK	B	-0.07%
LNT	B	-0.07%
UDR	C	-0.07%
FDS	C	-0.07%
SJM	C	-0.06%
JKHY	B	-0.06%
AES	C	-0.06%
CE	F	-0.06%
POOL	C	-0.06%
REG	C	-0.06%
EVRG	B	-0.06%
HEI	B	-0.06%
NDSN	C	-0.06%
DPZ	F	-0.06%
SNA	C	-0.06%
BEN	F	-0.05%
ALB	D	-0.05%
IPG	C	-0.05%
CHRW	B	-0.05%
EMN	B	-0.05%
ENSG	B	-0.04%
GL	C	-0.04%
AOS	D	-0.04%
MKTX	C	-0.04%
AIZ	B	-0.04%
PNW	C	-0.04%
HII	D	-0.04%
BMI	A	-0.03%
AXS	B	-0.03%
RHI	D	-0.03%
BOKF	B	-0.03%
TRNO	C	-0.03%
WBA	F	-0.03%
CCOI	C	-0.02%
WDFC	C	-0.02%
KAI	C	-0.02%
DDS	F	-0.02%
AGO	C	-0.02%
FUL	C	-0.02%
FELE	C	-0.02%
CNS	B	-0.02%
MATX	B	-0.02%
AL	D	-0.02%
BCPC	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%
ABM	D	-0.01%
MGEE	B	-0.01%
OTTR	F	-0.01%
JJSF	C	-0.01%
BRC	C	-0.01%
GFF	D	-0.01%
AUB	D	-0.01%
BANF	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%