BDCZ vs. KCE ETF Comparison

Comparison of ETRACS Wells Fargo Business Development Company Index ETN Series B due April 26, 2041 (BDCZ) to SPDR S&P Capital Markets ETF (KCE)

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

$20.04

Average Daily Volume

2,278

Number of Holdings ^*

* may have additional holdings in another (foreign) market

KCE

SPDR S&P Capital Markets ETF

KCE Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index that tracks the performance of publicly traded companies that do business as broker-dealers, asset managers, trust and custody banks or exchanges. In seeking to track the performance of the S&P Capital Markets Select Industry Index, the fund employs a replication strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the capital markets industry group of the S&P Total Market Index ("S&P TMI"). It is non-diversified.

Grade (RS Rating)

Last Trade

$111.29

Average Daily Volume

50,856

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	BDCZ	KCE
30 Days	0.37%	0.63%
60 Days	3.50%	3.01%
90 Days	6.69%	2.84%
12 Months	24.53%	32.54%

0 Overlapping Holdings

	Symbol	Grade	Weight in BDCZ	Weight in KCE	Overlap

BDCZ Overweight 23 Positions Relative to KCE

Symbol	Grade	Weight
ARCC	A	17.86%
FSK	A	11.43%
MAIN	A	5.85%
PSEC	C	5.48%
TSLX	A	4.71%
GBDC	C	4.5%
GSBD	A	4.48%
HTGC	A	4.42%
NMFC	C	3.68%
OCSL	D	3.54%
TCPC	B	2.36%
CGBD	A	2.28%
BCSF	A	2.09%
SLRC	A	2.05%
NEWT	C	1.96%
CSWC	A	1.82%
BBDC	A	1.72%
GAIN	C	1.69%
TPVG	F	1.57%
PFLT	B	1.45%
PNNT	A	1.4%
FDUS	B	1.28%
GLAD	A	1.22%

BDCZ Underweight 60 Positions Relative to KCE

Symbol	Grade	Weight
AMG	D	-1.8%
STEP	A	-1.78%
RJF	D	-1.76%
PIPR	A	-1.76%
MORN	B	-1.76%
FDS	D	-1.75%
JEF	A	-1.75%
MCO	A	-1.75%
BEN	D	-1.75%
BLK	B	-1.74%
PJT	A	-1.74%
TPG	D	-1.73%
OWL	D	-1.73%
SPGI	B	-1.73%
JHG	A	-1.73%
AMP	B	-1.73%
IVZ	D	-1.73%
BX	C	-1.72%
BGC	C	-1.72%
FHI	B	-1.72%
APAM	D	-1.72%
CG	D	-1.71%
SEIC	C	-1.71%
ARES	C	-1.71%
TROW	C	-1.71%
GS	A	-1.71%
NDAQ	C	-1.71%
STT	C	-1.71%
MS	B	-1.71%
HLNE	B	-1.7%
IBKR	B	-1.7%
VCTR	C	-1.7%
MSCI	C	-1.7%
HLI	A	-1.7%
SF	B	-1.7%
MC	A	-1.69%
CBOE	D	-1.69%
SCHW	C	-1.69%
CNS	B	-1.69%
ICE	A	-1.69%
BK	A	-1.69%
NTRS	B	-1.68%
TW	C	-1.67%
LPLA	B	-1.66%
VIRT	C	-1.65%
CME	D	-1.65%
EVR	A	-1.65%
HOOD	B	-1.65%
KKR	C	-1.64%
MKTX	F	-1.62%
VRTS	C	-1.53%
COIN	D	-1.51%
DFIN	D	-1.48%
AMK	B	-1.4%
SNEX	B	-1.24%
RILY	F	-0.82%
PX	C	-0.78%
BSIG	C	-0.63%
DHIL	D	-0.34%
LPRO	F	-0.34%

BDCZ: Top Represented Industries & Keywords

Industries: Asset Management Credit Services Specialty Finance