HDLB vs. REET ETF Comparison

Comparison of ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B due September 30, 2044 (HDLB) to iShares Global REIT ETF (REET)

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

$14.54

Average Daily Volume

2,358

Number of Holdings ^*

* may have additional holdings in another (foreign) market

REET

iShares Global REIT ETF

REET Description

The investment seeks to track the investment results of the FTSE EPRA/NAREIT Global REIT Index. The index is designed to track the performance of publicly-listed real estate investment trusts ("REITs") (or their local equivalents) in both developed and emerging markets. The fund generally invests at least 80% of its assets in securities of the index and in depositary receipts representing securities of the index. The fund seeks to track the investment results of the index before the fees and expenses of the fund. It is non-diversified.

Grade (RS Rating)

Last Trade

$26.15

Average Daily Volume

676,758

Number of Holdings ^*

105

* may have additional holdings in another (foreign) market

Performance

Period	HDLB	REET
30 Days	4.78%	1.06%
60 Days	16.52%	9.44%
90 Days	28.56%	13.09%
12 Months	70.07%	29.44%

6 Overlapping Holdings

Symbol	Grade	Weight in HDLB	Weight in REET	Overlap
GLPI	C	0.44%	0.78%	0.44%
MPW	C	1.04%	0.2%	0.2%
O	C	2.51%	3.24%	2.51%
STAG	D	0.4%	0.41%	0.4%
VICI	C	1.93%	2.01%	1.93%
WPC	C	0.76%	0.78%	0.76%

HDLB Overweight 31 Positions Relative to REET

Symbol	Grade	Weight
PFE	D	13.4%
ABBV	C	9.8%
VZ	C	9.25%
T	B	8.79%
GILD	A	5.14%
IBM	A	5.12%
PM	D	3.83%
DUK	C	3.27%
MO	D	3.18%
SO	A	2.94%
D	A	2.76%
AEP	C	2.58%
KHC	F	1.93%
ED	C	1.85%
ETR	A	1.73%
SRE	C	1.71%
PPL	C	1.48%
K	B	1.47%
NLY	C	1.43%
FE	C	1.42%
EIX	C	1.34%
IP	C	1.22%
AGNC	B	1.03%
NI	A	0.91%
PNW	C	0.78%
WU	D	0.73%
ARCC	A	0.46%
OGE	C	0.43%
FSK	A	0.25%
KD	D	0.14%
ONL	D	0.07%

HDLB Underweight 99 Positions Relative to REET

Symbol	Grade	Weight
PLD	D	-6.79%
EQIX	C	-4.94%
WELL	C	-4.53%
PSA	C	-3.36%
SPG	A	-3.23%
DLR	C	-3.05%
EXR	D	-2.2%
IRM	B	-2.03%
AVB	C	-1.86%
EQR	C	-1.64%
VTR	C	-1.52%
INVH	D	-1.25%
ARE	D	-1.2%
ESS	D	-1.1%
MAA	D	-1.08%
SUI	D	-0.97%
DOC	C	-0.93%
KIM	C	-0.9%
UDR	C	-0.87%
REG	C	-0.78%
AMH	D	-0.76%
ELS	D	-0.76%
CPT	C	-0.75%
BXP	B	-0.74%
HST	D	-0.72%
CUBE	C	-0.7%
REXR	D	-0.63%
OHI	C	-0.59%
FRT	D	-0.55%
NNN	C	-0.52%
EGP	D	-0.52%
BRX	C	-0.49%
COLD	D	-0.46%
ADC	C	-0.44%
FR	D	-0.43%
VNO	B	-0.41%
HR	D	-0.4%
TRNO	D	-0.37%
RHP	B	-0.37%
EPRT	C	-0.34%
KRG	C	-0.33%
LINE	F	-0.28%
IRT	D	-0.27%
SLG	C	-0.27%
PECO	C	-0.27%
CTRE	C	-0.26%
CUZ	C	-0.26%
KRC	C	-0.26%
SBRA	C	-0.25%
MAC	B	-0.23%
IIPR	C	-0.22%
SKT	A	-0.21%
BNL	C	-0.21%
EPR	C	-0.21%
APLE	B	-0.2%
CDP	A	-0.2%
NHI	C	-0.2%
HIW	C	-0.2%
NSA	D	-0.19%
LXP	D	-0.17%
PK	D	-0.17%
FCPT	C	-0.16%
DEI	A	-0.16%
UE	C	-0.15%
AKR	B	-0.14%
CURB	F	-0.14%
SHO	B	-0.12%
AHR	C	-0.12%
DRH	B	-0.11%
IVT	B	-0.11%
ROIC	C	-0.11%
GNL	D	-0.1%
JBGS	C	-0.09%
SILA	C	-0.09%
XHR	A	-0.09%
ELME	D	-0.09%
PEB	D	-0.09%
GTY	C	-0.09%
LTC	D	-0.09%
AIV	D	-0.08%
DEA	D	-0.08%
SAFE	C	-0.08%
ALEX	D	-0.08%
VRE	C	-0.08%
RLJ	D	-0.08%
ESRT	C	-0.08%
PDM	C	-0.07%
AAT	C	-0.07%
UMH	D	-0.07%
NTST	F	-0.07%
BDN	B	-0.06%
NXRT	D	-0.06%
CSR	D	-0.06%
SVC	D	-0.05%
SITC	D	-0.05%
PGRE	D	-0.05%
HPP	F	-0.04%
AHH	F	-0.04%
INN	A	-0.04%