DFND vs. VCLT ETF Comparison

Comparison of Realty Shares DIVCON Dividend Defender ETF (DFND) to Vanguard Long-Term Corporate Bond ETF (VCLT)

DFND

Realty Shares DIVCON Dividend Defender ETF

DFND Description

The investment seeks long-term capital appreciation by tracking the performance, before fees and expenses, of the Reality Shares DIVCON Dividend Defender Index. The index is designed to select the companies for a long position that have the highest probability of increasing their dividend in a 12-month period and select the companies for a short position that have the highest probability of decreasing their dividend in a 12-month period. Under normal circumstances, at least 80% of the fund's assets (other than collateral held from securities lending, if any) will be invested in component securities of the benchmark index. It is non-diversified.

Grade (RS Rating)

Last Trade

$42.12

Average Daily Volume

417

Number of Holdings ^*

* may have additional holdings in another (foreign) market

VCLT

Vanguard Long-Term Corporate Bond ETF

VCLT Description

The investment seeks to track the performance of a market-weighted corporate bond index with a long-term dollar-weighted average maturity. The fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 10+ Year Corporate Bond Index. This index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities greater than 10 years. All of the fund's investments will be selected through the sampling process, and at least 80% of the fund's assets will be invested in bonds included in the index.

Grade (RS Rating)

Last Trade

$82.19

Average Daily Volume

2,273,206

Number of Holdings ^*

339

* may have additional holdings in another (foreign) market

Performance

Period	DFND	VCLT
30 Days	10.92%	3.51%
60 Days	8.27%	6.94%
90 Days	8.64%	7.24%
12 Months	15.79%	16.58%

41 Overlapping Holdings

Symbol	Grade	Weight in DFND	Weight in VCLT	Overlap
AAPL	D	0.94%	0.04%	0.04%
ADI	D	1.46%	0.02%	0.02%
ALB	D	0.85%	0.01%	0.01%
AMAT	D	1.59%	0.03%	0.03%
AON	B	1.44%	0.01%	0.01%
AVGO	C	0.79%	0.04%	0.04%
CB	B	1.44%	0.03%	0.03%
CMCSA	D	1.04%	0.01%	0.01%
CME	B	1.23%	0.03%	0.03%
CMI	C	1.77%	0.02%	0.02%
CNP	C	-2.41%	0.01%	-2.41%
COST	B	1.18%	0.06%	0.06%
CSCO	C	1.31%	0.07%	0.07%
D	B	-3.09%	0.01%	-3.09%
DVN	F	-1.23%	0.03%	-1.23%
ETN	C	1.42%	0.01%	0.01%
GWW	B	1.87%	0.02%	0.02%
HON	D	1.32%	0.01%	0.01%
HSY	B	1.55%	0.01%	0.01%
INTC	F	-0.86%	0.03%	-0.86%
IP	B	-1.97%	0.01%	-1.97%
ITW	B	1.58%	0.03%	0.03%
KLAC	D	2.86%	0.02%	0.02%
LIN	B	1.28%	0.04%	0.04%
LMT	B	2.24%	0.01%	0.01%
MA	A	1.66%	0.02%	0.02%
MCD	B	2.17%	0.01%	0.01%
MCO	B	1.9%	0.02%	0.02%
MLM	D	0.71%	0.03%	0.03%
MMC	A	1.3%	0.01%	0.01%
MPC	F	2.34%	0.02%	0.02%
MSFT	C	0.98%	0.01%	0.01%
MSI	B	1.69%	0.02%	0.02%
PG	A	2.45%	0.01%	0.01%
PHM	B	2.03%	0.01%	0.01%
ROK	D	1.51%	0.02%	0.02%
SHW	A	2.15%	0.01%	0.01%
SNA	B	2.12%	0.01%	0.01%
T	A	-2.07%	0.01%	-2.07%
V	A	2.49%	0.02%	0.02%
VRSK	D	2.39%	0.02%	0.02%

DFND Overweight 29 Positions Relative to VCLT

Symbol	Grade	Weight
CTAS	B	2.46%
NDSN	C	2.22%
BRO	B	2.1%
MPWR	C	1.98%
FDS	C	1.97%
PPG	C	1.85%
DHI	B	1.69%
J	D	1.51%
ALLE	A	1.5%
CBOE	B	1.36%
MSCI	C	1.28%
AOS	D	1.23%
HUBB	B	1.1%
GL	C	0.93%
FAST	C	0.92%
LW	D	0.89%
ODFL	D	0.79%
INTU	C	0.71%
BR	B	0.71%
ACN	C	0.33%
MCHP	D	0.1%
PARA	F	-0.31%
APA	F	-0.96%
VFC	C	-1.0%
NWS	D	-1.78%
FCX	D	-1.83%
LUV	C	-1.91%
SW	B	-1.99%
F	D	-2.43%

DFND Underweight 298 Positions Relative to VCLT

Symbol	Grade	Weight
WIT	C	-0.21%
DELL	D	-0.11%
EQH	C	-0.09%
MDT	B	-0.08%
FITB	B	-0.07%
WY	C	-0.07%
FOXA	C	-0.07%
DD	B	-0.07%
AXP	B	-0.06%
HPQ	D	-0.06%
HCA	A	-0.06%
CARR	A	-0.06%
CAG	B	-0.05%
SCCO	D	-0.05%
BIIB	F	-0.05%
TAP	C	-0.05%
CRM	D	-0.05%
MS	D	-0.05%
AMZN	C	-0.05%
L	C	-0.04%
WBA	F	-0.04%
NXPI	F	-0.04%
DT	C	-0.04%
BHF	F	-0.04%
TJX	B	-0.04%
GPN	C	-0.04%
JNPR	B	-0.04%
NEM	B	-0.04%
HPE	F	-0.04%
GOOGL	D	-0.04%
BHP	D	-0.04%
ORCL	B	-0.04%
ORI	B	-0.03%
FTV	C	-0.03%
FANG	F	-0.03%
CFG	C	-0.03%
AAL	D	-0.03%
STE	B	-0.03%
WU	F	-0.03%
WRK	C	-0.03%
WM	D	-0.03%
NOV	F	-0.03%
OHI	B	-0.03%
LH	B	-0.03%
LEA	F	-0.03%
DG	F	-0.03%
CPT	B	-0.03%
PKG	B	-0.03%
PYPL	B	-0.03%
RPM	B	-0.03%
SPGI	A	-0.03%
CF	C	-0.03%
RPRX	C	-0.03%
APD	B	-0.03%
AMT	B	-0.03%
EBAY	A	-0.03%
MDLZ	B	-0.03%
MAR	D	-0.03%
VLO	F	-0.03%
RJF	C	-0.03%
NVDA	D	-0.03%
MUFG	D	-0.03%
VTRS	C	-0.03%
PSX	F	-0.03%
MPLX	B	-0.03%
ALLY	F	-0.03%
TMUS	A	-0.03%
CHTR	D	-0.03%
ABT	B	-0.03%
BMY	C	-0.03%
ABBV	B	-0.03%
WPC	B	-0.02%
PWR	C	-0.02%
PECO	B	-0.02%
SCHW	D	-0.02%
REGN	C	-0.02%
CHD	B	-0.02%
ZBH	D	-0.02%
STLD	F	-0.02%
FE	B	-0.02%
FMC	C	-0.02%
BAX	C	-0.02%
CL	C	-0.02%
CINF	B	-0.02%
OGS	A	-0.02%
LHX	C	-0.02%
O	B	-0.02%
IVZ	C	-0.02%
HRL	C	-0.02%
HOG	C	-0.02%
SBRA	A	-0.02%
TEL	D	-0.02%
AFG	B	-0.02%
CPB	B	-0.02%
VMI	D	-0.02%
XYL	D	-0.02%
WTRG	D	-0.02%
WHR	D	-0.02%
AJG	A	-0.02%
AVY	B	-0.02%
KSS	F	-0.02%
MKC	B	-0.02%
NWE	A	-0.02%
K	A	-0.02%
PAA	C	-0.02%
LRCX	F	-0.02%
EMN	A	-0.02%
PH	B	-0.02%
SYK	B	-0.02%
MOS	F	-0.02%
NDAQ	B	-0.02%
LNC	D	-0.02%
FIS	A	-0.02%
EG	B	-0.02%
ES	B	-0.02%
STZ	C	-0.02%
OTIS	C	-0.02%
AFL	B	-0.02%
CCI	B	-0.02%
CP	B	-0.02%
NI	A	-0.02%
TXN	D	-0.02%
SWK	B	-0.02%
DHR	B	-0.02%
DE	B	-0.02%
TGT	C	-0.02%
HES	F	-0.02%
CVX	D	-0.02%
DOW	F	-0.02%
UPS	D	-0.02%
TSN	C	-0.02%
ECL	A	-0.02%
HAL	F	-0.02%
EPD	A	-0.02%
JNJ	B	-0.02%
PEP	B	-0.02%
ICE	B	-0.02%
PM	B	-0.02%
WMT	B	-0.02%
NOC	B	-0.02%
MET	B	-0.02%
QCOM	D	-0.02%
IBM	A	-0.02%
GILD	B	-0.02%
CI	B	-0.02%
COP	F	-0.02%
RTX	C	-0.02%
PFE	C	-0.02%
XOM	D	-0.02%
AZN	D	-0.02%
HSBC	B	-0.02%
VOD	A	-0.02%
GSK	C	-0.02%
BAC	D	-0.02%
GE	A	-0.02%
HIW	A	-0.01%
FRT	B	-0.01%
AGO	C	-0.01%
AMH	B	-0.01%
EXR	A	-0.01%
BXP	A	-0.01%
BWA	F	-0.01%
AVA	B	-0.01%
APTV	F	-0.01%
DRI	C	-0.01%
INGR	B	-0.01%
IDA	B	-0.01%
EMR	D	-0.01%
MAA	A	-0.01%
LXP	B	-0.01%
OPI	F	-0.01%
JD	F	-0.01%
SIGI	C	-0.01%
EA	C	-0.01%
DOC	B	-0.01%
ADC	B	-0.01%
BEN	D	-0.01%
CACC	F	-0.01%
FNF	B	-0.01%
AES	C	-0.01%
PFG	C	-0.01%
PEG	A	-0.01%
VTR	B	-0.01%
OGE	B	-0.01%
ESS	A	-0.01%
MAS	B	-0.01%
RF	C	-0.01%
REG	B	-0.01%
EE	C	-0.01%
BKH	A	-0.01%
SWX	C	-0.01%
VOYA	A	-0.01%
DOV	B	-0.01%
KRC	C	-0.01%
EQIX	B	-0.01%
KIM	B	-0.01%
UDR	B	-0.01%
TT	A	-0.01%
UAL	C	-0.01%
MKL	C	-0.01%
IPG	C	-0.01%
KOF	D	-0.01%
EOG	D	-0.01%
CAH	B	-0.01%
WELL	B	-0.01%
WRB	C	-0.01%
PNW	A	-0.01%
PLD	B	-0.01%
SJM	C	-0.01%
RSG	B	-0.01%
DTE	A	-0.01%
HIG	B	-0.01%
JEF	B	-0.01%
IFF	B	-0.01%
HAS	B	-0.01%
EVRG	A	-0.01%
AWK	A	-0.01%
AVB	B	-0.01%
UNM	B	-0.01%
WEC	B	-0.01%
EQR	B	-0.01%
ATO	A	-0.01%
AEP	A	-0.01%
AEE	A	-0.01%
ZTS	B	-0.01%
SRE	B	-0.01%
PGR	B	-0.01%
VMC	D	-0.01%
NNN	B	-0.01%
NEE	B	-0.01%
NUE	D	-0.01%
KDP	B	-0.01%
HUM	F	-0.01%
EXC	A	-0.01%
CMS	A	-0.01%
LNT	A	-0.01%
OC	C	-0.01%
ACGL	A	-0.01%
XEL	B	-0.01%
SPG	B	-0.01%
WLK	D	-0.01%
PPL	A	-0.01%
GLW	C	-0.01%
JCI	B	-0.01%
EL	F	-0.01%
ALL	A	-0.01%
TRV	A	-0.01%
TMO	B	-0.01%
LLY	C	-0.01%
JBLU	D	-0.01%
KR	B	-0.01%
FDX	C	-0.01%
CSX	D	-0.01%
EIX	B	-0.01%
ED	B	-0.01%
KMB	C	-0.01%
ETR	A	-0.01%
ADM	D	-0.01%
ARE	B	-0.01%
PRU	C	-0.01%
SBUX	C	-0.01%
GIS	B	-0.01%
KMI	B	-0.01%
GD	B	-0.01%
WMB	A	-0.01%
LYB	F	-0.01%
OKE	A	-0.01%
DUK	B	-0.01%
MRO	D	-0.01%
NSC	C	-0.01%
LOW	B	-0.01%
GM	C	-0.01%
BSX	B	-0.01%
CAT	C	-0.01%
AIG	D	-0.01%
ET	B	-0.01%
SO	A	-0.01%
SYY	C	-0.01%
MMM	A	-0.01%
NKE	D	-0.01%
MO	C	-0.01%
MRK	D	-0.01%
UNP	B	-0.01%
UNH	C	-0.01%
DIS	D	-0.01%
BABA	C	-0.01%
BDX	D	-0.01%
C	D	-0.01%
PCG	B	-0.01%
KO	B	-0.01%
JPM	D	-0.01%
HD	B	-0.01%
AMGN	B	-0.01%
VZ	A	-0.01%
WFC	F	-0.01%
BA	F	-0.01%
GS	D	-0.01%
CVS	D	-0.01%