HDLB vs. MDIV ETF Comparison

Comparison of ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B due September 30, 2044 (HDLB) to First Trust Exchange-Traded Fund VI Multi-Asset Diversified Income Index Fund (MDIV)

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

$14.60

Average Daily Volume

2,345

Number of Holdings ^*

* may have additional holdings in another (foreign) market

MDIV

First Trust Exchange-Traded Fund VI Multi-Asset Diversified Income Index Fund

MDIV Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an index called the NASDAQ Multi-Asset Diversified Income Index. The index is designed to provide access to a diversified portfolio of small, mid and large capitalization income producing securities, which are composed of domestic and international dividend-paying stocks, REITs, oil and gas or basic materials MLPs, U.S.-listed preferred securities and an index-based ETF that invests in high yield or "junk" bonds.

Grade (RS Rating)

Last Trade

$16.60

Average Daily Volume

78,649

Number of Holdings ^*

103

* may have additional holdings in another (foreign) market

Performance

Period	HDLB	MDIV
30 Days	4.34%	1.42%
60 Days	10.89%	3.79%
90 Days	29.55%	6.87%
12 Months	71.68%	23.71%

13 Overlapping Holdings

Symbol	Grade	Weight in HDLB	Weight in MDIV	Overlap
AEP	C	2.58%	0.34%	0.34%
DUK	A	3.27%	0.35%	0.35%
EIX	A	1.34%	0.36%	0.36%
ETR	A	1.73%	0.4%	0.4%
FE	B	1.42%	0.37%	0.37%
GILD	A	5.14%	0.39%	0.39%
GLPI	A	0.44%	0.83%	0.44%
IBM	B	5.12%	0.35%	0.35%
KHC	D	1.93%	0.42%	0.42%
T	A	8.79%	0.59%	0.59%
VICI	C	1.93%	0.75%	0.75%
VZ	A	9.25%	0.66%	0.66%
WU	D	0.73%	0.72%	0.72%

HDLB Overweight 24 Positions Relative to MDIV

Symbol	Grade	Weight
PFE	D	13.4%
ABBV	A	9.8%
PM	C	3.83%
MO	D	3.18%
SO	A	2.94%
D	A	2.76%
O	A	2.51%
ED	A	1.85%
SRE	A	1.71%
PPL	A	1.48%
K	B	1.47%
NLY	C	1.43%
IP	C	1.22%
MPW	C	1.04%
AGNC	C	1.03%
NI	A	0.91%
PNW	A	0.78%
WPC	C	0.76%
ARCC	A	0.46%
OGE	A	0.43%
STAG	D	0.4%
FSK	A	0.25%
KD	F	0.14%
ONL	D	0.07%

HDLB Underweight 90 Positions Relative to MDIV

Symbol	Grade	Weight
HYLS	A	-19.97%
IEP	F	-1.61%
PMT	C	-1.59%
DKL	B	-1.35%
ARLP	A	-1.29%
BSM	B	-1.25%
KRP	B	-1.24%
DMLP	B	-1.19%
CAPL	B	-1.19%
USAC	D	-1.15%
EPR	C	-1.09%
AGNCN	A	-1.09%
LADR	D	-1.02%
APLE	D	-0.99%
IIPR	C	-0.92%
MPLX	A	-0.9%
LTC	D	-0.9%
GLP	B	-0.89%
CQP	F	-0.86%
WES	D	-0.86%
ET	C	-0.85%
GTY	C	-0.85%
HST	D	-0.83%
NRP	B	-0.8%
FITBI	A	-0.78%
CHSCO	B	-0.77%
EPD	A	-0.77%
SUN	D	-0.76%
CHSCL	A	-0.75%
NNN	A	-0.74%
FCPT	C	-0.74%
CHSCN	C	-0.72%
SPG	A	-0.72%
CHSCM	B	-0.71%
PAA	D	-0.71%
RZC	C	-0.71%
AAT	C	-0.7%
NHI	C	-0.7%
PAGP	D	-0.67%
LAMR	C	-0.64%
CTRE	B	-0.62%
ALEX	D	-0.62%
CUBE	C	-0.62%
PSA	C	-0.61%
BRX	C	-0.61%
MAA	C	-0.58%
CDP	A	-0.58%
REG	C	-0.55%
CHRD	F	-0.53%
GEL	D	-0.51%
BMY	B	-0.48%
NWE	B	-0.47%
LYB	D	-0.47%
ENLC	A	-0.47%
CAG	D	-0.45%
AVA	D	-0.45%
FANG	D	-0.44%
EVRG	C	-0.43%
OKE	B	-0.43%
BKH	C	-0.42%
SR	C	-0.42%
TROW	D	-0.41%
EXC	A	-0.4%
ES	C	-0.4%
FLO	D	-0.39%
POR	C	-0.38%
OGS	C	-0.38%
PRU	C	-0.38%
PNM	B	-0.37%
PINC	F	-0.37%
WEC	A	-0.37%
CVX	B	-0.37%
VTRS	D	-0.36%
MSM	D	-0.36%
XEL	A	-0.36%
IPG	C	-0.36%
DRI	C	-0.35%
DTM	A	-0.35%
HMN	B	-0.35%
DVN	F	-0.35%
SJM	C	-0.35%
GIS	C	-0.34%
FAF	B	-0.34%
NJR	C	-0.34%
SON	D	-0.34%
MDT	B	-0.33%
KMB	B	-0.33%
PNC	C	-0.32%
NFG	A	-0.32%
NMM	B	-0.06%