IPPP vs. PFLD ETF Comparison

Comparison of Preferred-Plus ETF (IPPP) to AAM Low Duration Preferred and Income Securities ETF (PFLD)

IPPP

Preferred-Plus ETF

IPPP Description

The investment seeks to provide income. The fund invests at least 80% of its net assets (plus any borrowings made for investment purposes) in a portfolio of preferred securities issued by U.S. and non-U.S. companies. It may invest in preferred securities of all issuer capitalizations. The fund may also invest in publicly-traded partnerships (“PTPs”). The Advisor intends to maintain approximately 10% asset exposure to a credit spread options strategy, although market conditions may dictate additional exposure.

Grade (RS Rating)

Last Trade

$10.31

Average Daily Volume

1,187

Number of Holdings ^*

* may have additional holdings in another (foreign) market

PFLD

AAM Low Duration Preferred and Income Securities ETF

PFLD Description

The investment seeks to track the total return performance, before fees and expenses, of the ICE 0-5 Year Duration Exchange-Listed Preferred & Hybrid Securities Index. The index measures the performance of exchange-listed, U.S. dollar-denominated preferred securities and hybrid securities listed on the New York Stock Exchange (NYSE) or NASDAQ Capital Market (NASDAQ) with an option-adjusted duration of less than 5 years. Under normal circumstances, at least 80% of the fund's total assets (exclusive of any collateral held from securities lending) will be invested in the component securities of the index.

Grade (RS Rating)

Last Trade

$21.09

Average Daily Volume

140,460

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	IPPP	PFLD
30 Days	-1.28%	-0.05%
60 Days	2.09%	1.05%
90 Days	5.20%	1.38%
12 Months	20.75%	9.55%

9 Overlapping Holdings

Symbol	Grade	Weight in IPPP	Weight in PFLD	Overlap
AGNC	D	1.39%	0.84%	0.84%
AQNB	A	1.27%	0.54%	0.54%
CMSD	C	0.6%	0.93%	0.6%
NRUC	C	1.0%	0.37%	0.37%
PRS	C	0.58%	0.84%	0.58%
RZB	C	0.57%	0.6%	0.57%
SREA	A	1.21%	1.12%	1.12%
TBC	D	0.59%	1.23%	0.59%
WTFCP	A	1.25%	0.43%	0.43%

IPPP Overweight 3 Positions Relative to PFLD

Symbol	Grade	Weight
UZE	B	1.33%
T	A	0.95%
SOJD	D	0.54%

IPPP Underweight 32 Positions Relative to PFLD

Symbol	Grade	Weight
TBB	C	-1.91%
CHSCL	A	-0.8%
QRTEP	F	-0.76%
CHSCM	B	-0.74%
DUKB	C	-0.74%
FITBI	A	-0.69%
SOJC	D	-0.65%
CHSCN	A	-0.64%
DTW	D	-0.58%
AGNCN	A	-0.5%
ESGRP	B	-0.5%
MGR	C	-0.45%
UNMA	D	-0.45%
CMSC	C	-0.41%
GPJA	D	-0.39%
DDT	A	-0.31%
CMSA	C	-0.3%
FCNCO	C	-0.29%
SLMBP	D	-0.28%
TVE	C	-0.28%
NYMTM	A	-0.27%
AFGD	C	-0.22%
NYMTN	A	-0.21%
WTFCM	A	-0.19%
NYMTL	A	-0.18%
AFGB	C	-0.18%
VLYPP	B	-0.17%
BPOPM	A	-0.16%
ENO	C	-0.16%
VLYPO	C	-0.15%
RILYN	B	-0.13%
FATBP	F	-0.11%

IPPP: Top Represented Industries & Keywords

Industries: Other Banks - Regional REIT - Residential Telecom Services