HDLB vs. SUSA ETF Comparison

Comparison of ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B due September 30, 2044 (HDLB) to iShares MSCI USA ESG Select ETF (SUSA)

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

SUSA

iShares MSCI USA ESG Select ETF

SUSA Description

iShares MSCI USA ESG Select ETF (the Fund), formerly iShares MSCI USA ESG Select Social Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the MSCI USA ESG Select Index (the Index). The Index is designed to measure the equity performance of large capitalization companies that have positive environmental, social and governance (ESG) characteristics relative to their industry and sector peers and in relation to the broader market, while exhibiting risk and return characteristics similar to the MSCI USA Index. The Fund generally invests at least 90% of its assets in securities of the Index and in depositary receipts representing securities of the Index. BlackRock Fund Advisors (BFA) serves as the investment adviser to the Fund.

Grade (RS Rating)

Last Trade

$119.59

Average Daily Volume

52,206

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	HDLB	SUSA
30 Days	4.78%	3.94%
60 Days	16.52%	10.66%
90 Days	28.56%	5.46%
12 Months	70.07%	36.31%

1 Overlapping Holdings

	Symbol	Grade	Weight in HDLB	Weight in SUSA	Overlap
	K	B	1.47%	1.44%	1.44%

HDLB Overweight 36 Positions Relative to SUSA

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%
O	C	2.51%
VICI	C	1.93%
KHC	F	1.93%
ED	C	1.85%
ETR	A	1.73%
SRE	C	1.71%
PPL	C	1.48%
NLY	C	1.43%
FE	C	1.42%
EIX	C	1.34%
IP	C	1.22%
MPW	C	1.04%
AGNC	B	1.03%
NI	A	0.91%
PNW	C	0.78%
WPC	C	0.76%
WU	D	0.73%
ARCC	A	0.46%
GLPI	C	0.44%
OGE	C	0.43%
STAG	D	0.4%
FSK	A	0.25%
KD	D	0.14%
ONL	D	0.07%

HDLB Underweight 9 Positions Relative to SUSA

Symbol	Grade	Weight
AAPL	C	-4.98%
MSFT	D	-4.83%
NVDA	B	-4.62%
KO	C	-1.96%
GOOGL	B	-1.91%
GOOG	B	-1.83%
LLY	D	-1.79%
AVGO	B	-1.6%
HD	A	-1.58%