FQC vs. PFAE ETF Comparison

Comparison of First Asset MSCI Canada Quality Index Class ETF (FQC) to Picton Mahoney Fort Act Ext Alt Fund ETF (PFAE)

FQC

First Asset MSCI Canada Quality Index Class ETF

FQC Description

The First Asset ETF’s investment objective is to replicate, to the extent possible, the performance of the MSCI Canada Quality Index (CAD), net of expenses. The MSCI Canada Quality Index (CAD) is based on the MSCI Canada Index, its parent index, which includes large and mid-cap stocks of the Canadian equity market.

Grade (RS Rating)

Last Trade

$34.96

Average Daily Volume

841

Number of Holdings ^*

* 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

$18.10

Average Daily Volume

1,597

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FQC	PFAE
30 Days	0.87%	0.56%
60 Days	7.83%	3.90%
90 Days	10.35%	1.80%
12 Months	16.61%	17.15%

2 Overlapping Holdings

	Symbol	Grade	Weight in FQC	Weight in PFAE	Overlap
	CP	C	5.48%	4.75%	4.75%
	SLF	D	4.83%	3.05%	3.05%

FQC Overweight 8 Positions Relative to PFAE

Symbol	Grade	Weight
MFC	A	5.68%
CSU	A	5.54%
CNR	D	5.22%
GIB.A	D	5.21%
IFC	B	5.02%
ARX	C	5.0%
ATD	D	4.99%
BAM	C	4.82%

FQC Underweight 3 Positions Relative to PFAE

Symbol	Grade	Weight
BMO	D	-6.87%
EFN	A	-3.1%
CNQ	C	-2.89%

PFAE: Top Represented Industries & Keywords

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