ARB vs. PFAE ETF Comparison

Comparison of Accelerate Arbitrage Fund ETF (ARB) to Picton Mahoney Fort Act Ext Alt Fund ETF (PFAE)

ARB

Accelerate Arbitrage Fund ETF

ARB Description

Accelerate Arbitrage Fund (ARB) seeks to achieve long-termcapital appreciation and a superior risk-adjusted return relative tothe S&P Merger Arbitrage Index. ARB seeks to outperform theS&P Merger Arbitrage Index through an arbitrage investmentstrategy by investing primarily in listed equity, debt or derivativesecurities of target companies involved in mergers or corporateactions, while selling short certain listed equity, debt or derivativesecurities of acquirer companies involved in mergers or corporateactions, where applicable. The aggregate notional amount ofderivatives used for non-hedging purposes will not exceed thelimits permitted under applicable securities legislation. ARB hasobtained exemptive relief to permit it to sell securities short up toan aggregate market value of 100% of ARB’s NAV.

Grade (RS Rating)

Last Trade

$26.25

Average Daily Volume

2,209

Number of Holdings ^*

1

* may have additional holdings in another (foreign) market

PFAE

Picton Mahoney Fort Act Ext Alt Fund ETF

PFAE Description

The investment objective of the Picton Mahoney Fortified Extension Alternative Fund (the “Fund”) is to provide long-term capital appreciation and to provide unitholders with an attractive risk-adjusted rate of return with similar volatility to the traditional equity market by taking long and short investment positions in an actively-managed portfolio comprised primarily of Canadian equity securities.

Grade (RS Rating)

Last Trade

$17.63

Average Daily Volume

1,333

Number of Holdings ^*

5

* may have additional holdings in another (foreign) market

Performance

Period	ARB	PFAE
30 Days	-0.57%	-0.28%
60 Days	0.08%	2.44%
90 Days	1.35%	5.51%
12 Months	2.94%	15.30%

0 Overlapping Holdings

	Symbol	Grade	Weight in ARB	Weight in PFAE	Overlap

ARB Overweight 1 Positions Relative to PFAE

	Symbol	Grade	Weight
	TCN	A	3.65%

ARB Underweight 5 Positions Relative to PFAE

	Symbol	Grade	Weight
	BMO	D	-6.87%
	CP	D	-4.75%
	EFN	B	-3.1%
	SLF	C	-3.05%
	CNQ	B	-2.89%

ARB: Top Represented Industries & Keywords

Industries: Real Estate Services

Keywords: Apartment Cars Credit Investor Lifestyle Real Estate Real Estate Industry Residential Residential Real Estate

PFAE: Top Represented Industries & Keywords

Industries: Banks - Global Credit Services Insurance - Diversified Oil & Gas E&P Railroads

Keywords: S&P/Tsx 60 Index Retail Financial Financial Services Insurance Marketing Transport Truck Vehicle Vehicles Asset Management Asset Management Solutions Bank Bank Of Montreal Banking Banking Products Capital Market Capital Markets Cars Coal