FXM vs. ARB ETF Comparison

Comparison of First Asset Morningstar Canada Value Index ETF (FXM) to Accelerate Arbitrage Fund ETF (ARB)

FXM

First Asset Morningstar Canada Value Index ETF

FXM Description

The ETF has been designed to replicate, to the extent possible, the performance of the Morningstar® Canada Target Value Index™ , net of expenses. The ETF invests in equity securities of the largest and most liquid Canadian issuers based on proprietary research generated by Morningstar, and is designed to provide diversified exposure to Canadian issuers which are considered to be “good value” based on characteristics like low price to earnings and low price to cash flow ratios.

Grade (RS Rating)

Last Trade

$25.54

Average Daily Volume

2,087

Number of Holdings ^*

10

* may have additional holdings in another (foreign) market

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

$26.41

Average Daily Volume

1,559

Number of Holdings ^*

1

* may have additional holdings in another (foreign) market

Performance

Period	FXM	ARB
30 Days	2.32%	1.19%
60 Days	10.12%	0.84%
90 Days	14.69%	0.57%
12 Months	26.36%	4.45%

0 Overlapping Holdings

	Symbol	Grade	Weight in FXM	Weight in ARB	Overlap

FXM Overweight 10 Positions Relative to ARB

	Symbol	Grade	Weight
	HBM	B	4.13%
	GLXY	A	3.82%
	FTT	C	3.69%
	TA	B	3.59%
	CLS	A	3.52%
	NPI	F	3.4%
	MEG	C	3.39%
	CG	F	3.38%
	EMP.A	A	3.36%
	MFC	A	3.34%

FXM Underweight 1 Positions Relative to ARB

	Symbol	Grade	Weight
	NVEI	A	-2.92%

FXM: Top Represented Industries & Keywords

Industries: Utilities - Independent Power Producers Capital Markets Contract Manufacturers Copper Gold Grocery Stores Industrial Distribution Insurance - Life Oil & Gas E&P

Keywords: Energy Mining Solar Asset Management Gold Health Marketing Mines Private Equity Acquisitions Aerospace Alberta Electricity Policy Alternative Currencies Alternative Energy Arbitrage Athabasca Athabasca Oil Sands Bank Biomass Blockchain

ARB: Top Represented Industries & Keywords

Industries: Information Technology Services

Keywords: Commerce Platform Credit Cards E Commerce E Commerce Platform Marketplace Mobile Mobile Payments Montreal Online Marketplace Payment Systems Places Reseller Retailing Software Software Vendors Supply Chain Management Technology Solution Technology Solutions