HDLB vs. DIVG ETF Comparison

Comparison of ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B due September 30, 2044 (HDLB) to Invesco S&P 500 High Dividend Growers ETF (DIVG)

HDLB

ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B due September 30, 2044

HDLB Description

The investment seeks to provide two times leveraged long exposure to the compounded monthly performance of the Solactive US High Dividend Low Volatility Index. The index is designed to measure the performance of 40 dividend yielding, relatively lower volatility Index Constituent Securities from the universe of the largest 1,000 U.S. listed stocks by market capitalization, as described herein. The Securities seek to approximate the monthly returns that might be available to investors through a leveraged “long” investment in the index constituent securities.

Grade (RS Rating)

Last Trade

$15.47

Average Daily Volume

2,751

Number of Holdings ^*

* may have additional holdings in another (foreign) market

DIVG

Invesco S&P 500 High Dividend Growers ETF

DIVG Description

The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. Strictly in accordance with its guidelines and mandated procedures, S&P Dow Jones Indices LLC compiles, maintains and calculates the underlying index, which is designed to measure the performance of a subset of companies within the S&P 500® Index that have the highest forecasted dividend yield growth. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$32.63

Average Daily Volume

439

Number of Holdings ^*

100

* may have additional holdings in another (foreign) market

Performance

Period	HDLB	DIVG
30 Days	4.78%	3.19%
60 Days	9.79%	4.18%
90 Days	17.43%	6.44%
12 Months	63.28%

11 Overlapping Holdings

Symbol	Grade	Weight in HDLB	Weight in DIVG	Overlap
ABBV	D	9.8%	0.9%	0.9%
AEP	D	2.58%	1.12%	1.12%
ETR	B	1.73%	1.31%	1.31%
FE	C	1.42%	1.23%	1.23%
GILD	C	5.14%	1.24%	1.24%
MO	A	3.18%	2.81%	2.81%
NI	A	0.91%	1.11%	0.91%
PFE	D	13.4%	1.53%	1.53%
PM	B	3.83%	1.51%	1.51%
SRE	A	1.71%	1.15%	1.15%
VICI	C	1.93%	1.66%	1.66%

HDLB Overweight 26 Positions Relative to DIVG

Symbol	Grade	Weight
VZ	C	9.25%
T	A	8.79%
IBM	C	5.12%
DUK	C	3.27%
SO	D	2.94%
D	C	2.76%
O	D	2.51%
KHC	F	1.93%
ED	D	1.85%
PPL	B	1.48%
K	A	1.47%
NLY	C	1.43%
EIX	B	1.34%
IP	B	1.22%
MPW	F	1.04%
AGNC	D	1.03%
PNW	B	0.78%
WPC	D	0.76%
WU	D	0.73%
ARCC	A	0.46%
GLPI	C	0.44%
OGE	B	0.43%
STAG	F	0.4%
FSK	A	0.25%
KD	B	0.14%
ONL	C	0.07%

HDLB Underweight 89 Positions Relative to DIVG

Symbol	Grade	Weight
BEN	C	-2.19%
BMY	B	-1.67%
OKE	A	-1.65%
WMB	A	-1.6%
RF	A	-1.6%
HBAN	A	-1.59%
LYB	F	-1.53%
CVX	A	-1.53%
EVRG	A	-1.48%
PRU	A	-1.4%
MS	A	-1.37%
ES	D	-1.33%
UDR	B	-1.33%
CTRA	B	-1.3%
ARE	D	-1.3%
MAA	B	-1.29%
IPG	D	-1.25%
XEL	A	-1.23%
C	A	-1.21%
CVS	D	-1.2%
FITB	A	-1.19%
WEC	A	-1.18%
STT	A	-1.17%
HRL	D	-1.16%
FMC	D	-1.13%
ESS	B	-1.12%
PSX	C	-1.1%
SNA	A	-1.1%
INVH	D	-1.08%
ADM	D	-1.06%
LNT	A	-1.06%
AEE	A	-1.05%
HPQ	B	-1.05%
EOG	A	-1.04%
PFG	D	-1.04%
CMCSA	B	-1.01%
MDT	D	-1.0%
PLD	D	-0.99%
PAYX	C	-0.97%
BAC	A	-0.96%
COP	C	-0.95%
PEP	F	-0.94%
CMS	C	-0.93%
BKR	B	-0.91%
GS	A	-0.89%
BK	A	-0.88%
AES	F	-0.87%
HPE	B	-0.87%
JPM	A	-0.87%
LW	C	-0.87%
PEG	A	-0.87%
OMC	C	-0.86%
BLK	C	-0.83%
FAST	B	-0.83%
AMGN	D	-0.83%
ATO	A	-0.82%
SBUX	A	-0.8%
NEE	D	-0.78%
PG	A	-0.78%
ITW	B	-0.75%
MDLZ	F	-0.75%
KR	B	-0.75%
IRM	D	-0.74%
FDX	B	-0.72%
ADP	B	-0.71%
AIG	B	-0.71%
AWK	D	-0.7%
EQIX	A	-0.69%
KDP	D	-0.69%
MPC	D	-0.68%
DVN	F	-0.68%
MCHP	D	-0.64%
NRG	B	-0.63%
AFL	B	-0.61%
GD	F	-0.58%
NXPI	D	-0.56%
STZ	D	-0.52%
ACN	C	-0.52%
UNH	C	-0.51%
DPZ	C	-0.51%
WM	A	-0.5%
ADI	D	-0.49%
NOC	D	-0.48%
AXP	A	-0.39%
AVGO	D	-0.38%
ORCL	B	-0.37%
APH	A	-0.35%
LRCX	F	-0.31%
ZTS	D	-0.3%