BDCZ vs. KBWD ETF Comparison

Comparison of ETRACS Wells Fargo Business Development Company Index ETN Series B due April 26, 2041 (BDCZ) to PowerShares KBW High Dividend Yield Financial Portfolio ETF (KBWD)

BDCZ

ETRACS Wells Fargo Business Development Company Index ETN Series B due April 26, 2041

BDCZ Description

The ETRACS Wells Fargo® Business Development Company Index ETN Series B due April 26, 2041 are senior unsecured debt securities issued by UBS AG (UBS) that provide exposure to the performance of the Wells Fargo® Business Development Company Index. The index is intended to measure the performance of all business development companies listed on the NYSE or NASDAQ that satisfy specified market capitalization and other eligibility requirements. It refer to the business development companies (“BDCs”) included in the Wells Fargo® Business Development Company Index as the “index constituents.” The index is a proprietary index of Wells Fargo Securities, LLC.

Grade (RS Rating)

Last Trade

$19.05

Average Daily Volume

1,839

Number of Holdings ^*

* may have additional holdings in another (foreign) market

KBWD

PowerShares KBW High Dividend Yield Financial Portfolio ETF

KBWD Description

The PowerShares KBW High Dividend Yield Financial Portfolio (Fund) is based on the KBW Financial Sector Dividend Yield Index (Index). The Fund will normally invest at least 90% of its total assets in securities that comprise the Index. The Index is calculated using a dividend yield weighted methodology that seeks to reflect the performance of approximately 24 to 40 publicly listed financial companies that are principally engaged in the business of providing financial services and products, including banking, insurance and diversified financial services, in the United States. The Index may also include securities of BDCs and equity and mortgage REITs. The Fund and the Index are rebalanced and reconstituted quarterly.

Grade (RS Rating)

Last Trade

$15.37

Average Daily Volume

182,867

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	BDCZ	KBWD
30 Days	1.03%	4.23%
60 Days	2.61%	2.55%
90 Days	4.24%	3.41%
12 Months	14.51%	18.58%

9 Overlapping Holdings

Symbol	Grade	Weight in BDCZ	Weight in KBWD	Overlap
BBDC	A	1.72%	2.72%	1.72%
CSWC	D	1.82%	2.23%	1.82%
FDUS	A	1.28%	3.19%	1.28%
FSK	A	11.43%	3.86%	3.86%
GSBD	F	4.48%	3.08%	3.08%
PNNT	B	1.4%	3.22%	1.4%
PSEC	D	5.48%	3.08%	3.08%
TCPC	C	2.36%	3.8%	2.36%
TPVG	C	1.57%	2.23%	1.57%

BDCZ Overweight 14 Positions Relative to KBWD

Symbol	Grade	Weight
ARCC	A	17.86%
MAIN	A	5.85%
TSLX	C	4.71%
GBDC	C	4.5%
HTGC	D	4.42%
NMFC	D	3.68%
OCSL	F	3.54%
CGBD	D	2.28%
BCSF	C	2.09%
SLRC	A	2.05%
NEWT	B	1.96%
GAIN	C	1.69%
PFLT	D	1.45%
GLAD	B	1.22%

BDCZ Underweight 21 Positions Relative to KBWD

Symbol	Grade	Weight
TRIN	A	-3.92%
ACRE	C	-3.75%
AGNC	D	-3.51%
RC	D	-3.3%
DX	B	-3.25%
ARI	C	-3.04%
EFC	C	-2.94%
EGBN	B	-2.91%
TRTX	B	-2.78%
OMF	A	-2.5%
WASH	C	-2.18%
KREF	D	-2.15%
APAM	B	-2.1%
WU	D	-1.79%
FIBK	A	-1.74%
LNC	B	-1.63%
NWBI	B	-1.63%
KEY	B	-1.44%
JHG	A	-1.35%
PRU	A	-1.19%
JXN	C	-0.93%

BDCZ: Top Represented Industries & Keywords

Industries: Asset Management Credit Services Specialty Finance