ERNZ vs. QAI ETF Comparison

Comparison of TrueShares Active Yield ETF (ERNZ) to IQ Hedge MultiIQ Hedge Multi-Strategy Tracker ETF (QAI)

ERNZ

TrueShares Active Yield ETF

ERNZ Description

The fund is an actively-managed ETF that seeks to deliver above-average yield relative to the broader market by purchasing a portfolio of 50 to 150 income generating securities. In pursuing its investment objective the fund also employs a secondary focus on capital preservation and the opportunity for long term growth of capital by seeking lower relative volatility compared to the broader market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$24.19

Average Daily Volume

10,240

Number of Holdings ^*

158

* may have additional holdings in another (foreign) market

QAI

IQ Hedge MultiIQ Hedge Multi-Strategy Tracker ETF

QAI Description

The investment seeks investment results that correspond generally to the price and yield performance of its underlying index, the IQ Hedge Multi-Strategy Index. The fund invests normally at least 80% of its net assets (excluding collateral held from securities lending), plus the amount of any borrowings for investment purposes, in the investments included in its underlying index, which includes underlying funds. The underlying index consists of a number of components ("underlying index Components") selected in accordance with IndexIQ's rules-based methodology of such underlying index.

Grade (RS Rating)

Last Trade

$31.96

Average Daily Volume

160,465

Number of Holdings ^*

32

* may have additional holdings in another (foreign) market

Performance

Period	ERNZ	QAI
30 Days	-3.72%	-0.31%
60 Days	-1.99%	1.08%
90 Days	-1.24%	3.77%
12 Months		10.98%

5 Overlapping Holdings

	Symbol	Grade	Weight in ERNZ	Weight in QAI	Overlap
	BIL	A	0.44%	-0.96%	-0.96%
	BKLN	A	0.52%	-0.21%	-0.21%
	FLOT	A	0.14%	17.11%	0.14%
	FLRN	A	0.24%	-0.49%	-0.49%
	SRLN	A	0.37%	-0.19%	-0.19%

ERNZ Overweight 153 Positions Relative to QAI

	Symbol	Grade	Weight
	CLM	A	3.22%
	ABR	B	3.14%
	GOF	A	3.09%
	NAT	F	2.75%
	INSW	F	2.71%
	DHT	F	2.71%
	HTGC	C	2.63%
	PSEC	D	2.6%
	GNL	D	2.5%
	CRF	A	2.36%
	TSLX	D	2.15%
	ECC	A	1.97%
	RC	F	1.85%
	OXLC	A	1.83%
	XMHQ	D	1.82%
	DX	C	1.57%
	NEP	F	1.56%
	PDI	A	1.53%
	QYLD	A	1.45%
	FSK	B	1.33%
	KRP	B	1.32%
	AGNC	D	1.22%
	BCC	D	1.17%
	DKS	F	1.11%
	CWH	F	1.04%
	DAC	D	1.01%
	FRO	F	0.94%
	USFR	A	0.82%
	GSBD	F	0.79%
	CCOI	B	0.69%
	KR	A	0.69%
	ABBV	A	0.67%
	GFF	F	0.67%
	GBDC	C	0.63%
	FCT	A	0.62%
	TFLO	A	0.61%
	GILD	A	0.59%
	STNG	F	0.56%
	CNA	D	0.56%
	SBR	D	0.55%
	GBIL	A	0.54%
	PMT	D	0.53%
	SHV	A	0.53%
	WSO	D	0.53%
	KREF	D	0.5%
	ARES	B	0.49%
	LVHI	A	0.49%
	GNK	D	0.45%
	PULS	A	0.44%
	BTI	C	0.42%
	UNIT	C	0.42%
	RA	A	0.42%
	SCHO	C	0.4%
	ARCH	B	0.4%
	BIZD	C	0.39%
	BXMT	C	0.39%
	NEM	D	0.37%
	BGS	C	0.37%
	CWEN	C	0.35%
	FLBL	A	0.35%
	COKE	D	0.35%
	DDS	C	0.33%
	NEAR	C	0.33%
	GIS	D	0.32%
	SAH	C	0.3%
	ICSH	A	0.29%
	PAG	F	0.29%
	FLTR	A	0.29%
	ARCC	B	0.29%
	ALB	C	0.29%
	APAM	A	0.29%
	CTRA	F	0.29%
	VRIG	A	0.28%
	COST	D	0.28%
	MINT	A	0.28%
	ETD	F	0.28%
	TRGP	A	0.27%
	TSCO	D	0.27%
	DVN	F	0.27%
	WINA	A	0.27%
	AMRK	D	0.27%
	BAH	A	0.27%
	VNLA	A	0.26%
	OVV	F	0.26%
	BRSP	C	0.26%
	GFI	B	0.25%
	CVI	F	0.25%
	MPW	D	0.24%
	FTSL	A	0.24%
	OHI	B	0.24%
	GOGL	F	0.24%
	JCPB	C	0.22%
	FANG	F	0.22%
	CAH	B	0.22%
	PBI	A	0.21%
	JMST	A	0.2%
	HYGV	C	0.2%
	FTSM	A	0.2%
	DEA	C	0.2%
	LYTS	A	0.2%
	ACP	A	0.19%
	SHY	C	0.19%
	CLX	B	0.19%
	IPAR	D	0.18%
	MUR	F	0.18%
	MO	A	0.18%
	USDU	A	0.18%
	SQM	D	0.18%
	ASC	F	0.16%
	IIPR	C	0.16%
	RYLD	A	0.16%
	PCAR	C	0.16%
	HSY	F	0.16%
	PNNT	C	0.15%
	GOVT	C	0.15%
	JPST	B	0.15%
	XYLD	C	0.15%
	ZROZ	F	0.15%
	VIRT	A	0.14%
	FHI	A	0.14%
	EDV	F	0.14%
	PFE	D	0.14%
	KMB	D	0.14%
	HLI	A	0.14%
	VGLT	D	0.14%
	OLN	F	0.13%
	KOF	F	0.13%
	CPB	D	0.13%
	UTG	B	0.13%
	CIVI	F	0.13%
	AGZD	A	0.12%
	PTEN	F	0.12%
	LGOV	D	0.12%
	SJNK	A	0.12%
	MAIN	B	0.12%
	CL	F	0.12%
	UVV	C	0.12%
	NGG	D	0.12%
	PEP	D	0.11%
	K	A	0.11%
	PG	D	0.11%
	WMK	D	0.11%
	AGZ	C	0.11%
	LADR	B	0.11%
	HRB	D	0.1%
	MPC	F	0.09%
	JMBS	D	0.09%
	RDY	D	0.09%
	USA	B	0.08%
	RAVI	A	0.05%
	ARI	F	0.05%
	PFLT	C	0.04%
	IEF	D	0.04%

ERNZ Underweight 27 Positions Relative to QAI

	Symbol	Grade	Weight
	MUB	C	-2.7%
	SIVR	B	-0.03%
	PIN	D	-0.0%
	FLJP	D	-0.0%
	SPHQ	C	--0.02%
	BBJP	D	--0.02%
	CTA	A	--0.02%
	COMT	D	--0.03%
	KMLM	F	--0.03%
	PFFD	C	--0.04%
	JEPI	A	--0.05%
	DBMF	D	--0.07%
	ARB	A	--0.1%
	PDBC	C	--0.14%
	VTEB	B	--0.22%
	MTUM	B	--0.23%
	DBA	C	--0.24%
	PFF	C	--0.25%
	STIP	B	--0.33%
	MNA	A	--0.35%
	ICVT	A	--0.35%
	CWB	A	--0.61%
	UUP	A	--0.62%
	SGOV	A	--0.73%
	IGOV	D	--1.03%
	BWX	D	--2.18%
	BTAL	C	--2.8%

ERNZ: Top Represented Industries & Keywords

Industries: Asset Management Shipping & Ports Oil & Gas E&P REIT - Diversified Household & Personal Products Packaged Foods Beverages - Soft Drinks Capital Markets Drug Manufacturers - Major Specialty Retail Tobacco Auto & Truck Dealerships Gold Grocery Stores Oil & Gas Drilling Oil & Gas Refining & Marketing REIT - Healthcare Facilities REIT - Industrial REIT - Office REIT - Residential

Keywords: Exchange Traded Fund ETF S&P 500 Bond Structured Finance Private Equity Real Estate Investment Trust Bond Market U.S. Treasury Loan Mortgage Backed Security Mortgage Loan Bloomberg Barclays Us Aggregate Bond Index Index Fund U.S. Government Business Development Crude Oil Mezzanine Capital Debt Securities Tanker

QAI: Top Represented Industries & Keywords

Industries:

Keywords: Exchange Traded Fund ETF Index Fund Bond Bond Market Indices Bond Market Invesco Powershares Managed Futures Account Commodity Markets Exchange Traded Funds Swaps U.S. Treasury Stock Market Index Arbitrage Betashares Commodity Risk Arbitrage Stock Fund Us Treasury Accredited Investor