HDLB vs. PSCU ETF Comparison

Comparison of ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B due September 30, 2044 (HDLB) to PowerShares S&P SmallCap Utilities Portfolio (PSCU)

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

PSCU

PowerShares S&P SmallCap Utilities Portfolio

PSCU Description

The PowerShares S&P SmallCap Utilities Portfolio (Fund) is based on the S&P SmallCap 600Â® Capped Utilities & Telecom Services Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to measure the overall performance of common stocks of US utilities and telecommunication services companies. These companies are principally engaged in providing either energy, water or natural gas utilities, as well as services designed to promote or enhance the transmission of voice, data and video over various communications media, including wireline, wireless (terrestrial-based), satellite and cable. The Index is a subset of the S&P SmallCap 600Â® Index, which is a float-adjusted, market-capitalization-weighted index reflecting the US small-cap market. The Fund and the Index are rebalanced and reconstituted quarterly.

Grade (RS Rating)

Last Trade

$65.11

Average Daily Volume

3,096

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	HDLB	PSCU
30 Days	4.78%	9.24%
60 Days	9.79%	7.80%
90 Days	17.43%	10.81%
12 Months	63.28%	30.75%

0 Overlapping Holdings

	Symbol	Grade	Weight in HDLB	Weight in PSCU	Overlap

HDLB Overweight 37 Positions Relative to PSCU

Symbol	Grade	Weight
PFE	D	13.4%
ABBV	D	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	D	2.94%
D	C	2.76%
AEP	D	2.58%
O	D	2.51%
VICI	C	1.93%
KHC	F	1.93%
ED	D	1.85%
ETR	B	1.73%
SRE	A	1.71%
PPL	B	1.48%
K	A	1.47%
NLY	C	1.43%
FE	C	1.42%
EIX	B	1.34%
IP	B	1.22%
MPW	F	1.04%
AGNC	D	1.03%
NI	A	0.91%
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 35 Positions Relative to PSCU

Symbol	Grade	Weight
LUMN	C	-10.06%
MGEE	C	-4.62%
MDU	D	-4.61%
MSGS	A	-4.45%
CNK	B	-4.16%
CCOI	B	-4.11%
OTTR	C	-4.07%
IAC	D	-4.06%
AWR	B	-3.87%
CARG	C	-3.76%
AVA	A	-3.7%
TDS	B	-3.7%
CWT	D	-3.64%
TGNA	B	-3.55%
CPK	A	-3.53%
SATS	D	-3.48%
ZD	C	-3.04%
YELP	C	-2.92%
CWEN	C	-2.78%
CABO	C	-2.22%
SJW	D	-1.99%
NWN	A	-1.96%
TRIP	F	-1.84%
MSEX	B	-1.43%
CARS	B	-1.38%
QNST	B	-1.38%
UTL	B	-1.15%
CWEN	C	-1.09%
TTGT	C	-0.93%
SSTK	F	-0.88%
SCHL	D	-0.76%
SHEN	F	-0.73%
THRY	F	-0.56%
GOGO	C	-0.56%
CNSL	C	-0.43%