HDLB vs. NIXT ETF Comparison

Comparison of ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B due September 30, 2044 (HDLB) to Research Affiliates Deletions ETF (NIXT)

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

$15.53

Average Daily Volume

2,749

Number of Holdings ^*

* may have additional holdings in another (foreign) market

NIXT

Research Affiliates Deletions ETF

NIXT Description

The index consists of U.S. equity securities of micro-, small- and mid- capitalization companies that are believed to be value stocks. Under normal circumstances, at least 80% of the fund"s total assets (exclusive of collateral held from securities lending) will be invested in U.S. equity securities of micro-, small- and mid- companies.

Grade (RS Rating)

Last Trade

$27.36

Average Daily Volume

42,775

Number of Holdings ^*

137

* may have additional holdings in another (foreign) market

Performance

Period	HDLB	NIXT
30 Days	4.93%	2.60%
60 Days	10.70%	2.78%
90 Days	16.30%
12 Months	61.71%

1 Overlapping Holdings

	Symbol	Grade	Weight in HDLB	Weight in NIXT	Overlap
	PNW	A	0.78%	0.76%	0.76%

HDLB Overweight 36 Positions Relative to NIXT

Symbol	Grade	Weight
PFE	F	13.4%
ABBV	F	9.8%
VZ	C	9.25%
T	A	8.79%
GILD	C	5.14%
IBM	C	5.12%
PM	B	3.83%
DUK	C	3.27%
MO	A	3.18%
SO	C	2.94%
D	C	2.76%
AEP	C	2.58%
O	C	2.51%
VICI	C	1.93%
KHC	F	1.93%
ED	C	1.85%
ETR	B	1.73%
SRE	A	1.71%
PPL	A	1.48%
K	A	1.47%
NLY	C	1.43%
FE	C	1.42%
EIX	B	1.34%
IP	A	1.22%
MPW	F	1.04%
AGNC	C	1.03%
NI	A	0.91%
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	B	0.14%
ONL	C	0.07%

HDLB Underweight 136 Positions Relative to NIXT

Symbol	Grade	Weight
LUMN	C	-4.72%
TDS	B	-1.23%
LBRDK	C	-1.21%
LITE	B	-1.2%
DNLI	D	-1.18%
FTDR	B	-1.12%
SIRI	C	-1.12%
OMCL	C	-1.1%
AFRM	A	-1.09%
HBI	B	-1.06%
ACIW	B	-1.01%
VNO	C	-1.0%
VFC	C	-0.99%
BFH	C	-0.96%
SLG	B	-0.95%
CHRW	B	-0.95%
SNDR	B	-0.94%
GEN	B	-0.92%
BKU	A	-0.9%
UAA	C	-0.86%
MAC	B	-0.85%
CMA	B	-0.84%
SHC	F	-0.84%
LOPE	C	-0.81%
DEI	B	-0.81%
EQH	C	-0.8%
BIO	C	-0.8%
LNC	C	-0.8%
SMTC	B	-0.79%
MKTX	D	-0.79%
FHB	B	-0.79%
NRG	B	-0.78%
BXP	C	-0.78%
AMBA	B	-0.78%
SABR	C	-0.77%
FNF	B	-0.76%
RL	C	-0.76%
UHS	D	-0.75%
CCOI	B	-0.75%
REG	A	-0.75%
PNM	B	-0.75%
PAYC	B	-0.75%
MP	C	-0.75%
HIW	C	-0.75%
ELS	C	-0.74%
MSGS	A	-0.74%
TNL	A	-0.74%
RNG	C	-0.74%
JWN	D	-0.74%
FL	F	-0.73%
DBX	B	-0.73%
DXC	B	-0.72%
SGRY	F	-0.72%
TFSL	A	-0.72%
CRUS	D	-0.72%
RIVN	F	-0.72%
YETI	D	-0.71%
OGS	A	-0.71%
KMX	B	-0.7%
OUT	A	-0.7%
NWL	C	-0.7%
MASI	B	-0.7%
VYX	B	-0.7%
ZD	B	-0.69%
SAM	C	-0.69%
JBLU	F	-0.68%
EPR	C	-0.68%
AVT	C	-0.67%
CNA	C	-0.67%
PINC	B	-0.67%
EMN	C	-0.66%
FRT	B	-0.66%
ALE	A	-0.66%
VIR	D	-0.66%
JKHY	D	-0.65%
GAP	C	-0.65%
CTLT	C	-0.65%
EQC	B	-0.65%
APLE	B	-0.65%
NVST	B	-0.64%
HE	C	-0.63%
JBGS	F	-0.63%
HAS	D	-0.62%
MTCH	D	-0.61%
HAE	C	-0.61%
PARA	C	-0.61%
IAC	F	-0.61%
CAR	C	-0.61%
AMED	F	-0.6%
NEU	D	-0.6%
ASAN	B	-0.59%
CABO	B	-0.59%
ALLY	C	-0.59%
SPR	D	-0.59%
HLF	C	-0.58%
HST	C	-0.58%
ARWR	D	-0.58%
VAC	C	-0.58%
TFX	F	-0.57%
FMC	D	-0.57%
PK	C	-0.57%
NGVT	B	-0.55%
HP	C	-0.55%
NOMD	D	-0.55%
AZTA	D	-0.54%
RAMP	B	-0.54%
NOV	C	-0.54%
IART	C	-0.52%
BMBL	C	-0.52%
LCID	F	-0.51%
ENOV	C	-0.51%
MOS	F	-0.5%
ZI	D	-0.5%
PLUG	F	-0.5%
HTZ	C	-0.49%
CBRL	C	-0.48%
ACLS	F	-0.48%
KSS	F	-0.47%
ETSY	D	-0.47%
NTLA	F	-0.47%
CRI	F	-0.46%
NSP	F	-0.45%
MQ	D	-0.45%
AEO	F	-0.45%
BBWI	C	-0.43%
HELE	C	-0.43%
MRVI	F	-0.42%
LEG	F	-0.4%
XRX	F	-0.4%
CVI	F	-0.37%
XRAY	F	-0.36%
QRVO	F	-0.34%
TRIP	F	-0.33%
SVC	F	-0.29%
SAGE	F	-0.25%
AGL	F	-0.21%