HIPS vs. RDOG ETF Comparison

Comparison of Master Income ETF (HIPS) to ALPS REIT Dividend Dogs ETF (RDOG)

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

$12.94

Average Daily Volume

39,019

Number of Holdings ^*

* may have additional holdings in another (foreign) market

RDOG

ALPS REIT Dividend Dogs ETF

RDOG Description

The investment seeks investment results that replicate as closely as possible, before fees and expenses, the performance of an index called the S-Network REIT Dividend Dogs Index (the "underlying index"). The fund will normally invest at least 90% of its total assets in common stocks and other equity securities that comprise the underlying index. The underlying index is a rules-based index intended to give investors a means of tracking the overall performance of the highest dividend paying real estate investment trusts ("REITs") in the S-Network US Composite REIT Index, a universe of mainly REITs listed in the United States, on a segment-by-segment basis.

Grade (RS Rating)

Last Trade

$41.24

Average Daily Volume

1,964

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	HIPS	RDOG
30 Days	0.95%	2.37%
60 Days	6.61%	9.90%
90 Days	3.79%	15.39%
12 Months	20.90%	35.67%

5 Overlapping Holdings

Symbol	Grade	Weight in HIPS	Weight in RDOG	Overlap
EPR	C	2.5%	2.21%	2.21%
GLPI	C	2.59%	2.18%	2.18%
GTY	C	2.72%	2.16%	2.16%
PK	D	2.43%	2.34%	2.34%
SBRA	C	3.21%	2.2%	2.2%

HIPS Overweight 30 Positions Relative to RDOG

Symbol	Grade	Weight
WES	B	3.39%
OHI	C	3.28%
MPLX	B	3.08%
PAA	B	2.99%
ET	A	2.95%
LTC	D	2.84%
BGX	C	2.83%
ALX	D	2.81%
NNN	C	2.8%
EPD	A	2.79%
BXSL	B	2.76%
JQC	B	2.75%
JFR	A	2.69%
NBB	D	2.65%
BLW	B	2.65%
ARCC	A	2.63%
FCT	A	2.62%
EFT	D	2.56%
DSU	A	2.56%
FDUS	C	2.5%
SLRC	C	2.49%
GBDC	B	2.48%
GSBD	D	2.48%
FSK	A	2.48%
USAC	D	2.4%
BSM	B	2.38%
DMLP	B	2.37%
CQP	D	2.37%
NMFC	F	2.36%
GNL	D	2.15%

HIPS Underweight 38 Positions Relative to RDOG

Symbol	Grade	Weight
MAC	B	-2.41%
OUT	C	-2.37%
BHR	D	-2.36%
APLE	B	-2.35%
UNIT	B	-2.34%
IIPR	C	-2.33%
SVC	D	-2.33%
HST	D	-2.31%
SPG	A	-2.27%
DLR	C	-2.25%
BNL	C	-2.24%
EQIX	C	-2.24%
GOOD	A	-2.23%
SLG	C	-2.22%
HIW	C	-2.22%
NSA	D	-2.21%
CTO	D	-2.21%
BFS	C	-2.21%
LXP	D	-2.21%
OPI	F	-2.2%
BDN	B	-2.2%
PLYM	D	-2.19%
GMRE	C	-2.19%
CBL	D	-2.19%
CCI	D	-2.18%
DEA	D	-2.17%
UHT	D	-2.17%
STAG	D	-2.17%
SBAC	C	-2.17%
OLP	C	-2.15%
AMT	D	-2.14%
TRNO	D	-2.14%
UDR	C	-2.11%
NXRT	D	-2.1%
UMH	D	-2.1%
BRT	D	-2.08%
MPW	C	-2.07%
AHH	F	-2.02%