HIPS vs. BDCX ETF Comparison
Comparison of Master Income ETF (HIPS) to ETRACS Quarterly Pay 1.5X Leveraged Wells Fargo BDC Index ETN (BDCX)
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
$13.10
Average Daily Volume
31,472
37
BDCX
ETRACS Quarterly Pay 1.5X Leveraged Wells Fargo BDC Index ETN
BDCX Description
The investment seeks to provide 1.5 times leveraged long exposure to the compounded quarterly performance of the Wells Fargo Business Development Company Index, reduced by the Accrued Fees. The index is intended to measure the performance of all business development companies listed on the New York Stock Exchange, NYSE AMEX or The Nasdaq Stock Market, Inc. that satisfy specified market capitalization and other eligibility requirements. It is a proprietary index of Wells Fargo Securities, LLC.Grade (RS Rating)
Last Trade
$31.15
Average Daily Volume
1,329
23
Performance
| Period | HIPS | BDCX |
|---|---|---|
| 30 Days | 2.93% | -0.99% |
| 60 Days | 1.80% | 2.03% |
| 90 Days | 2.88% | 3.99% |
| 12 Months | 19.87% | 16.62% |
HIPS Overweight 30 Positions Relative to BDCX
| Symbol | Grade | Weight | |
|---|---|---|---|
| BGX | A | 2.79% | |
| LTC | B | 2.79% | |
| JQC | A | 2.78% | |
| JFR | A | 2.75% | |
| ET | A | 2.68% | |
| EFT | A | 2.64% | |
| EPD | A | 2.64% | |
| FCT | A | 2.63% | |
| BXSL | A | 2.62% | |
| BLW | C | 2.6% | |
| MPLX | A | 2.6% | |
| DMLP | A | 2.6% | |
| GTY | A | 2.59% | |
| CQP | B | 2.56% | |
| NBB | D | 2.54% | |
| KRP | B | 2.53% | |
| DSU | A | 2.52% | |
| ALX | D | 2.49% | |
| PAA | B | 2.48% | |
| SBRA | C | 2.48% | |
| WES | C | 2.48% | |
| GLPI | C | 2.48% | |
| OHI | C | 2.46% | |
| USAC | B | 2.44% | |
| BSM | B | 2.44% | |
| PK | C | 2.41% | |
| EPR | C | 2.28% | |
| NNN | C | 2.18% | |
| NHS | D | 2.02% | |
| GNL | F | 1.83% |
HIPS: Top Represented Industries & Keywords
BDCX: Top Represented Industries & Keywords
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