HDLB vs. IBBQ ETF Comparison

Comparison of ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B due September 30, 2044 (HDLB) to Invesco Nasdaq Biotechnology ETF (IBBQ)

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

$15.04

Average Daily Volume

2,793

Number of Holdings ^*

* may have additional holdings in another (foreign) market

IBBQ

Invesco Nasdaq Biotechnology ETF

IBBQ Description

The investment seeks to track the investment results (before fees and expenses) of the Nasdaq Biotechnology Index ®. The fund generally will invest at least 90% of its total assets in the securities that comprise the index. Strictly in accordance with its guidelines and mandated procedures, Nasdaq compiles the underlying index, which is a modified market capitalization weighted index that is designed to measure the performance of securities listed on the Nasdaq Stock Market that are classified as either biotechnology or pharmaceutical companies. The index may include securities of large-, mid- and small-capitalization companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$22.19

Average Daily Volume

17,980

Number of Holdings ^*

195

* may have additional holdings in another (foreign) market

Performance

Period	HDLB	IBBQ
30 Days	4.12%	-6.94%
60 Days	8.71%	-9.48%
90 Days	16.51%	-8.51%
12 Months	59.75%	17.45%

1 Overlapping Holdings

	Symbol	Grade	Weight in HDLB	Weight in IBBQ	Overlap
	GILD	B	5.14%	9.95%	5.14%

HDLB Overweight 36 Positions Relative to IBBQ

Symbol	Grade	Weight
PFE	F	13.4%
ABBV	F	9.8%
VZ	C	9.25%
T	A	8.79%
IBM	C	5.12%
PM	A	3.83%
DUK	C	3.27%
MO	A	3.18%
SO	C	2.94%
D	C	2.76%
AEP	C	2.58%
O	D	2.51%
VICI	C	1.93%
KHC	F	1.93%
ED	C	1.85%
ETR	A	1.73%
SRE	A	1.71%
PPL	A	1.48%
K	A	1.47%
NLY	D	1.43%
FE	C	1.42%
EIX	C	1.34%
IP	A	1.22%
MPW	F	1.04%
AGNC	C	1.03%
NI	A	0.91%
PNW	A	0.78%
WPC	C	0.76%
WU	F	0.73%
ARCC	A	0.46%
GLPI	C	0.44%
OGE	A	0.43%
STAG	D	0.4%
FSK	A	0.25%
KD	A	0.14%
ONL	D	0.07%

HDLB Underweight 194 Positions Relative to IBBQ

Symbol	Grade	Weight
VRTX	D	-8.34%
AMGN	D	-7.56%
REGN	F	-5.67%
AZN	F	-3.97%
ALNY	D	-3.26%
BIIB	F	-2.52%
ILMN	C	-2.32%
ARGX	A	-1.96%
UTHR	C	-1.75%
VTRS	A	-1.65%
INCY	C	-1.58%
MRNA	F	-1.53%
SNY	F	-1.51%
SMMT	D	-1.43%
BMRN	F	-1.3%
NBIX	C	-1.28%
RPRX	D	-1.24%
INSM	C	-1.23%
SRPT	F	-1.08%
EXEL	B	-1.06%
BNTX	D	-1.05%
MEDP	F	-1.04%
PCVX	D	-1.04%
RVMD	B	-0.99%
ITCI	B	-0.95%
BGNE	D	-0.91%
ROIV	D	-0.89%
JAZZ	B	-0.81%
ASND	F	-0.79%
MDGL	C	-0.67%
CYTK	D	-0.64%
HALO	F	-0.62%
BPMC	C	-0.61%
NUVL	D	-0.56%
IONS	F	-0.54%
KRYS	C	-0.53%
RNA	C	-0.53%
ACLX	C	-0.51%
ALKS	C	-0.5%
ADMA	B	-0.48%
AXSM	B	-0.48%
BBIO	F	-0.48%
CRNX	B	-0.47%
RARE	F	-0.44%
CRSP	D	-0.43%
IMVT	F	-0.42%
GH	B	-0.39%
DNLI	D	-0.39%
RYTM	C	-0.37%
LEGN	D	-0.34%
MRUS	F	-0.34%
APLS	F	-0.34%
XENE	D	-0.33%
AGIO	C	-0.33%
EWTX	C	-0.32%
PTCT	B	-0.32%
DYN	D	-0.31%
FOLD	F	-0.31%
VCYT	B	-0.3%
ACAD	C	-0.3%
KYMR	D	-0.29%
SWTX	C	-0.29%
VRNA	A	-0.28%
VCEL	A	-0.28%
IOVA	F	-0.27%
JANX	C	-0.27%
VERA	C	-0.27%
PTGX	D	-0.26%
ARWR	D	-0.25%
GERN	C	-0.24%
IDYA	F	-0.24%
MIRM	B	-0.23%
SRRK	B	-0.23%
KROS	D	-0.23%
TWST	F	-0.23%
AMPH	F	-0.23%
LGND	C	-0.22%
AKRO	C	-0.21%
SUPN	B	-0.21%
BEAM	D	-0.21%
MNKD	B	-0.2%
HRMY	F	-0.2%
FTRE	D	-0.19%
NVCR	C	-0.19%
IRON	B	-0.19%
RXRX	D	-0.18%
TARS	C	-0.18%
WVE	C	-0.18%
ARVN	F	-0.17%
DVAX	C	-0.17%
BCRX	D	-0.16%
NRIX	C	-0.16%
ZLAB	C	-0.15%
TVTX	C	-0.15%
SPRY	C	-0.15%
HROW	D	-0.15%
MYGN	F	-0.15%
NTLA	F	-0.15%
OCUL	C	-0.15%
XNCR	B	-0.15%
RCKT	F	-0.14%
DAWN	D	-0.14%
SNDX	F	-0.14%
AUPH	C	-0.13%
ARDX	F	-0.13%
NVAX	F	-0.13%
INVA	D	-0.13%
ANIP	D	-0.13%
IMCR	C	-0.13%
KURA	F	-0.13%
ARQT	B	-0.12%
VIR	F	-0.12%
CNTA	B	-0.12%
ELVN	C	-0.12%
GRFS	C	-0.12%
COLL	F	-0.1%
COGT	D	-0.1%
CGEM	F	-0.09%
BCYC	F	-0.09%
ETNB	D	-0.09%
GMAB	F	-0.09%
REPL	C	-0.08%
ADPT	C	-0.08%
PLRX	D	-0.08%
ERAS	C	-0.08%
PRTA	F	-0.08%
EOLS	F	-0.08%
PCRX	C	-0.08%
ABCL	D	-0.08%
CSTL	D	-0.08%
AUTL	F	-0.07%
MRVI	F	-0.07%
AVXL	B	-0.07%
IRWD	F	-0.07%
RLAY	F	-0.07%
ABUS	D	-0.07%
HCM	C	-0.06%
OLMA	F	-0.06%
SANA	F	-0.06%
GLPG	F	-0.06%
CVAC	F	-0.06%
MLYS	F	-0.06%
ANAB	F	-0.06%
HUMA	F	-0.06%
PHAT	F	-0.06%
ORIC	F	-0.06%
TSHA	C	-0.05%
SIGA	F	-0.05%
ARCT	F	-0.05%
XERS	C	-0.05%
PACB	D	-0.05%
TERN	F	-0.05%
RVNC	F	-0.05%
FDMT	F	-0.05%
OABI	D	-0.05%
TBPH	B	-0.05%
URGN	F	-0.05%
ALLO	F	-0.05%
RGNX	D	-0.05%
SVRA	F	-0.05%
EYPT	D	-0.05%
YMAB	F	-0.05%
PAHC	B	-0.05%
MGTX	C	-0.05%
THRD	D	-0.05%
LXRX	F	-0.04%
ALEC	F	-0.04%
PRME	F	-0.04%
VERV	D	-0.04%
KALV	F	-0.04%
PGEN	F	-0.03%
BMEA	F	-0.03%
ZNTL	D	-0.03%
ATAI	B	-0.03%
LYEL	F	-0.03%
VNDA	C	-0.03%
ITOS	F	-0.03%
QURE	D	-0.03%
VYGR	F	-0.03%
SAGE	F	-0.03%
ACIU	D	-0.03%
ACRS	B	-0.02%
CABA	F	-0.02%
CRBU	D	-0.02%
FULC	F	-0.02%
AMRN	F	-0.02%
EDIT	F	-0.02%
MGNX	D	-0.02%
BLUE	F	-0.01%
ALXO	F	-0.01%
OVID	D	-0.01%
CHRS	D	-0.01%
VTYX	F	-0.01%
RAPT	F	-0.0%