CEFD vs. VPC ETF Comparison

Comparison of ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN (CEFD) to Virtus Private Credit Strategy ETF (VPC)

CEFD

ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN

CEFD Description

The investment seeks to provide 1.5 times leveraged long exposure to the compounded quarterly performance of the S-Network Composite Closed-End Fund Index (the ?index?), reduced by the Accrued Fees. The index is a mutual fund index designed to serve as a benchmark for closed-end funds listed in the U.S. that are principally engaged in asset management processes designed to produce taxable annual yield.

Grade (RS Rating)

Last Trade

$20.10

Average Daily Volume

1,979

Number of Holdings ^*

* may have additional holdings in another (foreign) market

VPC

Virtus Private Credit Strategy ETF

VPC Description

The investment seeks investment results that correspond the price and yield performance of the Indxx Private Credit Index (the "underlying index"). Under normal market conditions, the fund will invest not less than 80% of its assets in component securities of the underlying index. The underlying index is designed to track the performance of U.S.-listed, registered closed-end investment companies that have elected to be regulated as "business development companies" under the Investment Company Act of 1940, as well as U.S.-listed, non-BDC registered closed-end funds. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$22.42

Average Daily Volume

22,818

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CEFD	VPC
30 Days	-0.56%	0.36%
60 Days	0.87%	1.26%
90 Days	3.80%	2.02%
12 Months	28.80%	15.02%

8 Overlapping Holdings

Symbol	Grade	Weight in CEFD	Weight in VPC	Overlap
BGT	B	0.49%	1.42%	0.49%
BLW	C	0.92%	1.36%	0.92%
EFR	A	0.82%	1.5%	0.82%
EFT	A	0.95%	1.46%	0.95%
FCT	A	0.58%	1.59%	0.58%
FRA	B	0.82%	1.53%	0.82%
JQC	A	1.66%	1.59%	1.59%
PHD	A	0.44%	1.52%	0.44%

CEFD Overweight 91 Positions Relative to VPC

Symbol	Grade	Weight
EVV	D	2.63%
BDJ	B	2.39%
HYT	A	2.19%
BTZ	D	2.16%
NXDT	F	1.9%
AWF	C	1.83%
DSL	C	1.77%
BXMX	A	1.65%
EMD	C	1.5%
WIW	D	1.37%
BHK	C	1.3%
QQQX	B	1.26%
BOE	A	1.23%
BCX	C	1.2%
HIO	B	1.19%
JPC	A	1.18%
RA	C	1.17%
GHY	B	1.16%
BGY	C	1.09%
CII	B	1.07%
HIX	A	1.01%
BIT	D	1.01%
EOS	A	1.0%
IGD	A	0.98%
HTD	A	0.94%
BST	B	0.92%
EAD	C	0.9%
ISD	C	0.88%
LDP	D	0.84%
FFC	D	0.83%
TEI	D	0.75%
PHK	C	0.75%
EOI	A	0.73%
MIN	D	0.71%
EHI	C	0.71%
NBB	D	0.71%
MCR	C	0.7%
PDT	C	0.69%
DIAX	A	0.69%
PPT	D	0.67%
WIA	D	0.66%
MMT	C	0.64%
GOF	A	0.64%
JPI	D	0.63%
BKT	D	0.62%
PFN	A	0.59%
JGH	B	0.59%
ERC	C	0.57%
HPS	D	0.55%
HYI	B	0.55%
DFP	D	0.55%
BME	D	0.54%
HPI	D	0.47%
BGH	B	0.44%
FTF	C	0.43%
GBAB	F	0.42%
HYB	B	0.39%
EVG	D	0.38%
IDE	A	0.38%
DHF	A	0.38%
PHT	C	0.38%
TSI	D	0.37%
ETB	A	0.37%
FT	A	0.37%
STK	A	0.37%
DHY	B	0.36%
HPF	D	0.36%
MSD	C	0.34%
INSI	D	0.34%
FFA	A	0.32%
DBL	D	0.31%
GDO	D	0.31%
PSF	D	0.31%
VBF	D	0.3%
BGR	A	0.3%
PIM	D	0.3%
PFL	C	0.29%
IGA	A	0.29%
OPP	D	0.29%
SPXX	B	0.27%
FLC	D	0.24%
MCN	D	0.24%
CIK	C	0.24%
WEA	B	0.22%
FAM	B	0.21%
VLT	C	0.19%
MGF	D	0.19%
VGI	D	0.18%
HEQ	C	0.18%
GNT	C	0.14%
JLS	C	0.14%

CEFD Underweight 44 Positions Relative to VPC

Symbol	Grade	Weight
OCCI	C	-4.38%
TPVG	B	-3.44%
ECC	D	-2.64%
XFLT	A	-2.22%
FSK	A	-2.19%
TCPC	C	-2.12%
BIGZ	A	-2.07%
PSEC	D	-1.91%
SAR	A	-1.89%
GSBD	F	-1.84%
HTGC	D	-1.81%
WHF	F	-1.8%
SLRC	A	-1.78%
PNNT	C	-1.74%
SCM	B	-1.69%
GAIN	B	-1.69%
PFLT	D	-1.69%
FDUS	A	-1.67%
VVR	D	-1.63%
JFR	A	-1.62%
NMFC	D	-1.59%
CCAP	A	-1.59%
GBDC	D	-1.56%
HRZN	F	-1.53%
BCSF	C	-1.52%
BBDC	A	-1.52%
TSLX	C	-1.48%
EVF	A	-1.47%
ARCC	A	-1.46%
KIO	D	-1.45%
DSU	A	-1.44%
CION	C	-1.43%
CGBD	C	-1.41%
BGX	A	-1.36%
BXSL	A	-1.35%
ARDC	A	-1.33%
CSWC	D	-1.33%
BSL	A	-1.27%
MAIN	A	-1.1%
MRCC	B	-1.03%
OFS	D	-0.98%
PTMN	D	-0.95%
OXSQ	D	-0.95%
MPV	D	-0.93%

CEFD: Top Represented Industries & Keywords

Industries: Asset Management

VPC: Top Represented Industries & Keywords

Industries: Asset Management Credit Services Specialty Finance