HDLB vs. RIET ETF Comparison

Comparison of ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B due September 30, 2044 (HDLB) to Hoya Capital High Dividend Yield ETF (RIET)

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

$15.32

Average Daily Volume

2,749

Number of Holdings ^*

* may have additional holdings in another (foreign) market

RIET

Hoya Capital High Dividend Yield ETF

RIET Description

Hoya Capital High Dividend Yield ETF is an exchange traded fund launched by ETF Series Solutions. The fund is co-managed by Hoya Capital Real Estate, LLC and Penserra Capital Management, LLC. It invests in the public equity markets of the United States. The fund invests in the stocks of companies operating in the financial, diversified financials, mortgage real estate investment trust, real estate investment trusts, real estate, equity real estate investment trust, real estate management and development and real estate operating companies sectors. The fund invests in dividend paying, growth and value stocks of companies across diversified market capitalizations. It replicates the performance of the Hoya Capital High Dividend Yield Index, by using full replication technique. Hoya Capital High Dividend Yield ETF is domiciled in the United States.

Grade (RS Rating)

Last Trade

$10.62

Average Daily Volume

59,657

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	HDLB	RIET
30 Days	4.93%	-2.69%
60 Days	10.70%	-3.85%
90 Days	16.30%	0.55%
12 Months	61.71%	19.17%

6 Overlapping Holdings

Symbol	Grade	Weight in HDLB	Weight in RIET	Overlap
AGNC	C	1.03%	1.41%	1.03%
GLPI	C	0.44%	1.56%	0.44%
MPW	F	1.04%	0.94%	0.94%
O	C	2.51%	1.53%	1.53%
VICI	C	1.93%	1.58%	1.58%
WPC	C	0.76%	1.38%	0.76%

HDLB Overweight 31 Positions Relative to RIET

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%
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%
NI	A	0.91%
PNW	A	0.78%
WU	F	0.73%
ARCC	A	0.46%
OGE	A	0.43%
STAG	D	0.4%
FSK	A	0.25%
KD	B	0.14%
ONL	C	0.07%

HDLB Underweight 57 Positions Relative to RIET

Symbol	Grade	Weight
UNIT	B	-1.98%
BXP	C	-1.84%
OHI	C	-1.76%
NSA	C	-1.7%
SPG	A	-1.68%
KRC	B	-1.66%
EXR	C	-1.61%
EQR	C	-1.58%
DOC	C	-1.53%
CLPR	D	-1.51%
CCI	C	-1.5%
APLE	B	-1.5%
STWD	C	-1.45%
NNN	C	-1.45%
OUT	A	-1.44%
SBRA	C	-1.41%
OLP	B	-1.38%
HIW	C	-1.38%
GOOD	B	-1.35%
KREF	C	-1.34%
NREF	A	-1.33%
BNL	D	-1.27%
BDN	C	-1.26%
CTO	B	-1.25%
ABR	C	-1.24%
LTC	B	-1.24%
EPR	C	-1.23%
GPMT	C	-1.22%
UHT	D	-1.21%
ACRE	B	-1.2%
LADR	B	-1.19%
TRTX	C	-1.18%
PSTL	D	-1.17%
BXMT	C	-1.17%
EFC	C	-1.15%
DX	B	-1.15%
DEA	D	-1.15%
ALX	D	-1.14%
CIO	C	-1.14%
BRSP	C	-1.14%
FBRT	D	-1.14%
AHH	D	-1.1%
GNL	F	-1.1%
GMRE	F	-1.08%
PMT	C	-1.08%
IIPR	D	-1.06%
ARI	C	-1.01%
CMTG	F	-1.01%
RC	D	-0.97%
CHCT	C	-0.94%
AFCG	D	-0.87%
CHMI	F	-0.82%
SACH	F	-0.55%
SVC	F	-0.54%
NYMTN	D	-0.34%
NYMTM	A	-0.32%
AGNCN	A	-0.31%