HDLB vs. NXTV ETF Comparison

Comparison of ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B due September 30, 2044 (HDLB) to Simplify Next Intangible Value Index ETF (NXTV)

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

$14.51

Average Daily Volume

2,982

Number of Holdings ^*

* may have additional holdings in another (foreign) market

NXTV

Simplify Next Intangible Value Index ETF

NXTV Description

NXTV targets US companies with low equity valuations relative to their intangible-adjusted book values within their respective sectors. The fund defines intangible capital as productive assets that lack physical presence and are created through investments in brand, knowledge, and organization capital. The index construction starts by calculating an intangible-adjusted book value for each security in an initial universe consisting of the largest 2000 US companies by market-cap. The 200 stocks with the lowest equity valuations relative to their intangible adjusted book values are selected for inclusion. At least five stocks are included from each of the 13 sectors determined by the index provider using a combination of SIC and NAICS codes along with data from publicly available 10-K filings. Holdings are weighted by market capitalization, with individual security weights capped at 5%. The index reconstitutes quarterly.

Grade (RS Rating)

Last Trade

$28.50

Average Daily Volume

614

Number of Holdings ^*

195

* may have additional holdings in another (foreign) market

Performance

Period	HDLB	NXTV
30 Days	1.88%	4.04%
60 Days	7.02%	9.76%
90 Days	14.68%	13.62%
12 Months	62.32%

13 Overlapping Holdings

Symbol	Grade	Weight in HDLB	Weight in NXTV	Overlap
D	C	2.76%	0.48%	0.48%
ED	D	1.85%	0.36%	0.36%
ETR	B	1.73%	0.27%	0.27%
IP	B	1.22%	0.41%	0.41%
KD	B	0.14%	0.22%	0.14%
KHC	F	1.93%	0.64%	0.64%
NI	B	0.91%	0.15%	0.15%
PFE	F	13.4%	4.65%	4.65%
PPL	C	1.48%	0.24%	0.24%
SRE	A	1.71%	0.53%	0.53%
T	C	8.79%	4.84%	4.84%
VICI	D	1.93%	0.87%	0.87%
VZ	D	9.25%	4.9%	4.9%

HDLB Overweight 24 Positions Relative to NXTV

Symbol	Grade	Weight
ABBV	B	9.8%
GILD	A	5.14%
IBM	D	5.12%
PM	C	3.83%
DUK	D	3.27%
MO	B	3.18%
SO	D	2.94%
AEP	D	2.58%
O	D	2.51%
K	B	1.47%
NLY	D	1.43%
FE	D	1.42%
EIX	D	1.34%
MPW	D	1.04%
AGNC	D	1.03%
PNW	C	0.78%
WPC	F	0.76%
WU	F	0.73%
ARCC	B	0.46%
GLPI	D	0.44%
OGE	A	0.43%
STAG	D	0.4%
FSK	A	0.25%
ONL	C	0.07%

HDLB Underweight 182 Positions Relative to NXTV

Symbol	Grade	Weight
CMCSA	B	-5.15%
INTC	C	-3.77%
DELL	C	-3.21%
C	B	-1.86%
KR	B	-1.78%
HPQ	B	-1.46%
EBAY	D	-1.22%
CVS	F	-1.18%
FDX	B	-1.13%
HPE	B	-1.09%
EL	F	-1.05%
NTAP	C	-1.04%
BBY	D	-1.02%
GFS	D	-0.98%
WDC	C	-0.94%
GM	A	-0.9%
ZM	A	-0.88%
COF	B	-0.87%
MET	B	-0.86%
BIIB	F	-0.85%
FOXA	B	-0.82%
DG	F	-0.79%
TRV	B	-0.78%
ALL	C	-0.74%
DD	C	-0.73%
F	D	-0.73%
AIG	B	-0.71%
NUE	C	-0.7%
MRNA	F	-0.69%
NWS	A	-0.68%
FCNCA	B	-0.67%
HUM	F	-0.66%
PRU	B	-0.65%
SNAP	C	-0.65%
LEN	D	-0.65%
DLTR	F	-0.65%
ZBH	C	-0.63%
CTVA	C	-0.59%
SYY	C	-0.58%
CNC	F	-0.57%
BAX	F	-0.56%
JNPR	B	-0.53%
ILMN	A	-0.52%
ACI	D	-0.49%
CACI	B	-0.47%
TPR	B	-0.46%
PCG	B	-0.44%
CTRA	D	-0.44%
SNX	B	-0.43%
LBRDK	B	-0.43%
TWLO	A	-0.43%
ALB	C	-0.42%
ADM	F	-0.42%
VTRS	B	-0.41%
PPG	F	-0.4%
EXC	D	-0.39%
GAP	C	-0.39%
RS	B	-0.38%
EQT	B	-0.38%
CCL	B	-0.37%
MRO	C	-0.37%
LEVI	F	-0.37%
FYBR	C	-0.36%
INCY	A	-0.36%
CIEN	A	-0.34%
MKL	B	-0.34%
SWK	F	-0.33%
DBX	C	-0.33%
SOLV	C	-0.33%
WRB	B	-0.33%
EXPE	A	-0.33%
GPC	F	-0.33%
FLEX	A	-0.33%
TSN	D	-0.32%
LUV	B	-0.32%
AMKR	F	-0.31%
PATH	D	-0.31%
CINF	B	-0.31%
U	C	-0.3%
SYF	B	-0.3%
CFG	B	-0.29%
FTI	B	-0.29%
PFG	C	-0.29%
ARE	F	-0.29%
DDS	C	-0.28%
NSIT	F	-0.28%
UAL	B	-0.28%
TXT	D	-0.28%
BLDR	D	-0.27%
L	B	-0.27%
W	F	-0.27%
HSIC	F	-0.27%
BILL	C	-0.26%
LUMN	B	-0.26%
OVV	D	-0.26%
CRBG	B	-0.26%
PEGA	B	-0.26%
FNF	D	-0.25%
EG	F	-0.25%
BIO	B	-0.24%
ROKU	D	-0.24%
SATS	C	-0.23%
ELAN	D	-0.23%
COTY	F	-0.23%
CPB	F	-0.22%
RNR	C	-0.22%
RGA	C	-0.22%
AR	D	-0.21%
CPRI	F	-0.21%
DINO	F	-0.21%
AIT	B	-0.21%
CLVT	F	-0.21%
KMX	C	-0.21%
VFC	B	-0.21%
JLL	C	-0.2%
M	C	-0.2%
PAG	C	-0.2%
CNH	B	-0.2%
EQH	B	-0.2%
ALLY	C	-0.2%
JAZZ	B	-0.2%
CNA	D	-0.2%
BG	F	-0.2%
RIVN	F	-0.2%
PFGC	B	-0.2%
EXEL	A	-0.2%
IAC	C	-0.19%
JEF	B	-0.19%
SNA	A	-0.19%
AEO	F	-0.19%
USM	B	-0.19%
TOL	B	-0.19%
COKE	D	-0.19%
RPM	A	-0.19%
WCC	B	-0.19%
TAP	C	-0.18%
ARW	F	-0.18%
SWN	C	-0.18%
LKQ	F	-0.18%
BWA	C	-0.17%
JWN	C	-0.17%
FLS	B	-0.17%
AA	B	-0.17%
RHI	B	-0.17%
ADTN	B	-0.17%
SIG	B	-0.17%
ASO	F	-0.17%
BEN	C	-0.16%
XRAY	F	-0.16%
AIZ	B	-0.16%
PVH	C	-0.16%
NOV	D	-0.16%
URBN	D	-0.16%
WHR	B	-0.16%
ALIT	D	-0.16%
UNM	B	-0.16%
GL	C	-0.15%
SANM	B	-0.15%
ZI	C	-0.15%
FRSH	C	-0.15%
SLAB	D	-0.15%
WFRD	F	-0.15%
DXC	B	-0.15%
LCID	F	-0.14%
LAD	B	-0.14%
ORI	B	-0.14%
EVRG	B	-0.14%
AGR	D	-0.14%
CLF	C	-0.14%
UPST	B	-0.14%
FHN	B	-0.13%
MUR	F	-0.13%
CIVI	D	-0.13%
INGR	B	-0.13%
WBD	C	-0.13%
CXT	D	-0.13%
X	C	-0.13%
ALKS	C	-0.13%
SON	F	-0.13%
MGM	D	-0.08%
DLB	C	-0.05%
BYD	B	-0.04%