HIPS vs. ALTY ETF Comparison

Comparison of Master Income ETF (HIPS) to Global X SuperDividend Alternatives ETF (ALTY)

HIPS

Master Income ETF

HIPS Description

The Master Income ETF seeks to track the total return performance, before fees and expenses, of the TFMS HIPS 300 Index. The Index is constructed to capture 300 high income securities, typically with pass-through structures, across the following sectors: (i) closed-end funds (“CEFs”), (ii) mortgage real estate investment trusts (“REITs”), (iii) commercial equity REITs, (iv) residential/diversified REITs, (v) asset management and business development companies (“BDCs”), and (vi) energy production and energy transportation & processing companies. Energy-related companies included in the Index are expected to primarily be structured as master limited partnerships (“MLPs”). CEFs included in the Index are limited to taxable, debt-based funds and may include CEFs that invest primarily in bank loans, high-yield securities (also known as “junk bonds”), foreign securities (including those in emerging markets), and mortgage- or asset-backed securities. The Index is constituted using proprietary methodology developed by Trust and Fiduciary Management Services, Inc. The Index Provider determines the relative weightings of the securities in the Index and publishes information regarding the market value of the Index.

Grade (RS Rating)

Last Trade

$12.91

Average Daily Volume

38,061

Number of Holdings ^*

* may have additional holdings in another (foreign) market

ALTY

Global X SuperDividend Alternatives ETF

ALTY Description

The investment seeks to track, before fees and expenses, the price and yield performance of the Indxx SuperDividend® Alternatives Index ("underlying index"). The fund invests at least 80% of its total assets in the securities of the underlying index and in American Depositary Receipts ("ADRs") and Global Depositary Receipts ("GDRs") based on the securities in the underlying index. The underlying index is comprised of securities that rank among the highest dividend yielding securities in each eligible category of alternative income investments, at the time of index reconstitution, as defined by the index provider. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$12.06

Average Daily Volume

8,405

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	HIPS	ALTY
30 Days	0.22%	2.56%
60 Days	2.71%	6.44%
90 Days	2.40%	6.91%
12 Months	18.74%	22.40%

4 Overlapping Holdings

Symbol	Grade	Weight in HIPS	Weight in ALTY	Overlap
EPD	B	2.79%	1.22%	1.22%
MPLX	A	3.08%	1.44%	1.44%
PAA	D	2.99%	1.29%	1.29%
USAC	D	2.4%	1.17%	1.17%

HIPS Overweight 31 Positions Relative to ALTY

Symbol	Grade	Weight
WES	D	3.39%
OHI	C	3.28%
SBRA	C	3.21%
ET	C	2.95%
LTC	C	2.84%
BGX	C	2.83%
ALX	C	2.81%
NNN	A	2.8%
BXSL	D	2.76%
JQC	B	2.75%
GTY	B	2.72%
JFR	B	2.69%
NBB	B	2.65%
BLW	A	2.65%
ARCC	A	2.63%
FCT	A	2.62%
GLPI	B	2.59%
EFT	D	2.56%
DSU	A	2.56%
EPR	C	2.5%
FDUS	C	2.5%
SLRC	D	2.49%
GBDC	D	2.48%
GSBD	D	2.48%
FSK	A	2.48%
PK	D	2.43%
BSM	B	2.38%
DMLP	B	2.37%
CQP	D	2.37%
NMFC	F	2.36%
GNL	D	2.15%

HIPS Underweight 14 Positions Relative to ALTY

Symbol	Grade	Weight
EMBD	B	-20.25%
PFFD	B	-20.23%
QYLD	B	-19.73%
WMB	A	-1.55%
KMI	A	-1.49%
HESM	D	-1.37%
SPH	D	-1.35%
OGE	A	-1.31%
ALE	A	-1.31%
SR	A	-1.29%
SUN	D	-1.27%
NWE	A	-1.26%
AGR	C	-1.23%
NWN	B	-1.13%