VRP vs. PSK ETF Comparison

Comparison of PowerShares Variable Rate Preferred Portfolio (VRP) to SPDR Wells Fargo Preferred Stock ETF (PSK)

VRP

PowerShares Variable Rate Preferred Portfolio

VRP Description

The investment seeks investment results that generally correspond (before fees and expenses) to the price and yield of the Wells FargoÂ® Hybrid and Preferred Securities Floating and Variable Rate Index. The index is a market capitalization-weighted index designed to track the performance of preferred stock, as well as certain types of "hybrid securities" that are functionally equivalent to preferred stocks, that are issued by US-based or foreign issuers and that pay a floating or variable rate dividend or coupon. The fund generally will invest at least 90% of its total assets in the securities that comprise the index. It is non-diversified.

Grade (RS Rating)

Last Trade

$24.40

Average Daily Volume

288,902

Number of Holdings ^*

* may have additional holdings in another (foreign) market

PSK

SPDR Wells Fargo Preferred Stock ETF

PSK Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index. In seeking to track the performance of the Wells Fargo Hybrid and Preferred Securities Aggregate Index (the "index"), the fund employs a replication strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index is a modified market capitalization weighted index designed to measure the performance of non-convertible preferred stock and securities that are functionally equivalent to preferred stock. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$34.60

Average Daily Volume

144,724

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	VRP	PSK
30 Days	0.17%	-2.47%
60 Days	1.78%	1.06%
90 Days	4.24%	3.77%
12 Months	17.62%	15.25%

4 Overlapping Holdings

Symbol	Grade	Weight in VRP	Weight in PSK	Overlap
ESGRP	B	0.15%	0.45%	0.15%
FITBI	A	0.2%	0.62%	0.2%
RZB	C	0.18%	0.54%	0.18%
TVC	C	0.1%	0.31%	0.1%

VRP Overweight 14 Positions Relative to PSK

Symbol	Grade	Weight
AGNC	D	0.24%
CHSCM	B	0.22%
CHSCN	A	0.19%
AQNB	A	0.16%
AGNCN	A	0.14%
WTFCP	A	0.13%
NYMTM	A	0.08%
TVE	C	0.08%
NYMTN	A	0.06%
ZIONO	A	0.06%
VLYPP	B	0.05%
WTFCM	A	0.05%
NYMTL	A	0.05%
VLYPO	C	0.04%

VRP Underweight 21 Positions Relative to PSK

Symbol	Grade	Weight
TBB	C	-1.73%
SOJD	D	-1.24%
TBC	D	-1.12%
RZC	A	-1.02%
SREA	A	-1.02%
CMSD	C	-0.85%
PRS	C	-0.77%
DUKB	C	-0.67%
SOJC	D	-0.59%
PFH	D	-0.55%
DTW	D	-0.53%
EAI	D	-0.51%
ACGLO	C	-0.42%
MGR	C	-0.4%
UNMA	D	-0.4%
CMSC	C	-0.37%
GPJA	D	-0.35%
ELC	D	-0.33%
NRUC	C	-0.33%
EMP	D	-0.32%
AIZN	C	-0.3%

PSK: Top Represented Industries & Keywords

Industries: Other Insurance - Diversified Banks - Regional - US Electric Utilities Insurance