1. STRICTLY CONFIDENTIAL
Power Shares Senior Loan ETF
Hold
Ticker: BKLN
Purchase Date: 03/11/15
Purchase Price: $24.13
Current Price: $22.10
Price Return Since Purchase: (8.41%)

2. Atkins Investment Group | [Sector Name]
Fund Overview
Fund Summary
Credit Rating Credit Breakdown by Country Top Industry Groupings
| 1
 BKLN is an actively managed ETF that invests at least 80% of its total assets in the
securities that comprise the S&P/LSTA U.S.
 Securities within the fund have a floating rate off LIBOR, which in theory would offer
higher dividend payments once it passed its 1% floor
 BKLN loans are secured by the assets of the companies within the fund, which are senior
debt in the structure.
 Number of Holdings:113
 Total Expense Ratio:0.66%
 Modified Duration:0.25%
 3-Month LIBOR:0.62%
 YTM:6.10%
Structure Breakdown
Media
Retail
Lodging
Telecommunications
Software
Electric
Healthcare-Services
Pharmaceuticals
Entertainment
Commercial Services
8.91%
7.26%
5.67%
5.37%
5.27%
4.84%
4.79%
4.76%
4.57%
3.51%
Fund Details
Loans
Cash and Cash
Equivalents
High Yield
Securities
86.32%
7.19%
6.48%
U.S
Canada
Luxembourg
Cayman
Islands
Australia
Netherlands
U.K.
74.37%
5.47%
4.40%
2.07%
1.42%
0.94%
0.74%

3. Atkins Investment Group | [Sector Name]
Trading Update
Price Performance Annualized Price Returns Trend
Dividend Payment Since Inception
| 2
-4.00%
-2.00%
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
2012 2013 2014 2015
$-
$0.02
$0.04
$0.06
$0.08
$0.10
$0.12
$0.14
Purchased
20
21
22
23
24
25
26
Purchased
Leverage Loan vs. High Yield
-25%
-20%
-15%
-10%
-5%
0%
5%
Leverage Loan High Yield
94% Correlation

4. Atkins Investment Group | [Sector Name]
Leverage Loan Market
Going forward
| 3
Market review 2015
0
500000
1000000
1500000
2000000
2500000
3000000
3500000
4000000
0
100000
200000
300000
400000
500000
600000
700000
800000
3/1/2006 12/1/2006 9/1/2007 6/1/2008 3/1/2009 12/1/2009 9/1/2010 6/1/2011 3/1/2012 12/1/2012 9/1/2013 6/1/2014 3/1/2015
C&I Loans Non-Performing Loans Total Corporate Loans Outstanding
 2015 was the second largest issuance of CLO in the
US totaling $97.89 billion
 2014: largest at $124.1 billion
 Default rates historic low of 2%
 Average bid for LSTA US BB loan index peaked from
a high of 98.86 in April, currently trading at 93.78
 Large outflows from hedge funds
 Banks projecting $60-$80 Billion in issuance in 2016
 Default rate projected to hit 3%
 Non-Performing Corporate Loans gradually decreasing
 Insurance companies increasing inflows for below
investment grade
 US and Japanese banks becoming more active in AAA
investing

5. Atkins Investment Group | [Sector Name]
Relative Indicators
Business Indicators
Loan Risk Volume vs. Demand for Loans
| 4
0%
20%
40%
60%
80%
100%
120%
140%
160%
-40%
-30%
-20%
-10%
0%
10%
20%
ISM Manufacturing Leverage Loan Index US Corp Profitablilty
13% Correlation US Corp Profitability
74% Correlation ISM
-80,000
-60,000
-40,000
-20,000
0
20,000
40,000
0
2000
4000
6000
8000
10000
12000
14000
16000
18000
4/1/2006 12/1/2006 8/1/2007 4/1/2008 12/1/2008 8/1/2009 4/1/2010 12/1/2010 8/1/2011 4/1/2012 12/1/2012 8/1/2013 4/1/2014 12/1/2014 8/1/2015
Moderate Risk Loans Low Risk Loans Demand for Commercial & Industrial Loans (Large & Middle-Market Firms)
Recent Trends
 Low risk loan volume trending upward, moderate to
high risk loans trending down.
 Demand decrease do to market-sell off and investor
sentiment
 ISM Manufacturing index hit a 7 year low of 48
 US Corporate Profitability index slightly trending
down

6. Atkins Investment Group | [Sector Name]
Historical Snapshot
Leverage Loan Index vs Us Corp Profitability 2002-2009
| 5
-40%
-35%
-30%
-25%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
US Corp Profitablilty Leverage Loan Index
Leverage Loan Index vs US Corp Profitability 2011-Present
-8%
-6%
-4%
-2%
0%
2%
4%
0%
5%
10%
15%
20%
25%
30%
US Corp Profitablilty Leverage Loan Index
Leverage Loan Index vs ISM Manufacturing 2004-2010 Leverage Loan Index vs ISM Manufacturing 2012-Present
30
35
40
45
50
55
60
60
65
70
75
80
85
90
95
100
105
Leverage Loan ISM
44
46
48
50
52
54
56
58
80
82
84
86
88
90
92
94
96
98
100
Leverage Loan ISM

7. Atkins Investment Group | [Sector Name]
Summary
Leveraged Loans vs. Other Indicators
Historical Performance and Recovery Rates Summary
| 6
 Leverage Loan 2015 default rates are low at 2%
compared to their 4.5% historical average.
 Senior Secured Loans have a historical 80% recovery
rate.
 Leverage Loans have outperformed the aggregate bonds
market in rising interest rate environments.
0
1
2
3
4
5
6
-50%
-40%
-30%
-20%
-10%
0%
10%
20%
9/30/2003 9/30/2004 9/30/2005 9/30/2006 9/30/2007 9/30/2008 9/30/2009 9/30/2010 9/30/2011 9/30/2012 9/30/2013 9/30/2014 9/30/2015
Leverage Loan Index Barclays Agg Fed Funds LIBOR
 Leverage Loans are trading at a discount due to
recent market turbulence.
 Fed Funds hopeful to raise over the next 24
month.
 Long term, Fed Funds projected to reach 4.5% in
2020.
 BKLN offers low duration risk as loan rates
within the fund are reset quarterly which has
traditionally offered less price volatility.

8. Atkins Investment Group | [Sector Name]
Comparable Funds
Normalized Comparable Funds Price Performance
Key Comparative Statistics
| 7
12 month dividend yield 30-day Avg. Liquidity Expense Ratio Inception Date Market Cap Maturity < 7 yrs. Type
BKLN 4.21% 2.9M 0.65% 3/3/2011 3.79B 98.60% Open
SRLN 4.45% 176.5K 0.70% 4/4/2033 773.08M 91.18% Open
SNLN 4.40% 151.4K 0.55% 11/6/2012 283.14M NA Open
FTSL 3.96% 127.5K 0.85% 5/5/2013 420.48M 88.77% Closed
-14%
-12%
-10%
-8%
-6%
-4%
-2%
0%
2%
4%
BKLN SRLN SNLN FTSL