FXM vs. NGPE ETF Comparison

Comparison of First Asset Morningstar Canada Value Index ETF (FXM) to Nbi Global Private Equity ETF (NGPE)

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

$22.32

Average Daily Volume

3,064

Number of Holdings ^*

9

* may have additional holdings in another (foreign) market

NGPE

Nbi Global Private Equity ETF

NGPE Description

The NBI Global Private Equity ETF’s investment objective is to generate long-term capital growth by replicating, to the extentpossible and before fees and expenses, the performance of a global private equity index that measures the investment returnsof publicly-listed private equity issuers. Currently, the NBI Global Private Equity ETF tracks the performance of the Morningstar®PitchBook Developed Markets Listed Private Equity Select IndexSM (or any successor thereto). To do this, the NBI Global PrivateEquity ETF invests directly, or indirectly through investments in securities of other mutual funds, in a portfolio comprisedprimarily of securities of globally listed private equity companies and investment vehicles.

Grade (RS Rating)

Last Trade

$45.16

Average Daily Volume

1,071

Number of Holdings ^*

1

* may have additional holdings in another (foreign) market

Performance

Period	FXM	NGPE
30 Days	3.09%	0.33%
60 Days	6.84%	2.54%
90 Days	11.13%	6.69%
12 Months	10.16%	42.37%

0 Overlapping Holdings

	Symbol	Grade	Weight in FXM	Weight in NGPE	Overlap

FXM Overweight 9 Positions Relative to NGPE

	Symbol	Grade	Weight
	K	A	3.71%
	FTT	B	3.62%
	VET	C	3.61%
	BBD.B	B	3.61%
	AC	D	3.56%
	MEG	C	3.51%
	DOO	B	3.42%
	MFC	A	3.41%
	AQN	B	3.38%

FXM Underweight 1 Positions Relative to NGPE

	Symbol	Grade	Weight
	ONEX	D	-2.73%

FXM: Top Represented Industries & Keywords

Industries: Oil & Gas E&P Airlines Banks - Regional - Latin America Gold Industrial Distribution Insurance - Life Recreational Vehicles Utilities - Independent Power Producers

Keywords: Energy Engines Extraction Natural Gas Oil Pipe Pipeline Regional Jet S&P/Tsx 60 Index Transport Water Aeroplan Aerostructure Aftermarket Air Canada Airbus Airline Airliners Airlines Algonquin Power & Utilities

NGPE: Top Represented Industries & Keywords

Industries: Asset Management

Keywords: Analytics Building Products Celestica Credit Dow Electronics Electronics Manufacturing Services Emera Emerald Food Food Retail Health Healthcare Imaging Information Information Technology Information Technology Solutions Insurance Insurance Service Insurance Services