IYLD vs. PFFL ETF Comparison

Comparison of iShares Morningstar Multi-Asset Income ETF (IYLD) to ETRACS 2xMonthly Pay Leveraged Preferred Stock Index ETN due September 25, 2048 (PFFL)

IYLD

iShares Morningstar Multi-Asset Income ETF

IYLD Description

The investment seeks to track the investment results of the Morningstar® Multi-Asset High Income IndexSM. The fund generally will invest at least 90% of its assets in the component securities of the underlying index and may invest up to 10% of its assets in certain futures, options and swap contracts, cash and cash equivalents. The index is broadly diversified and seeks to deliver high current income while maintaining long-term capital appreciation. The fund is a fund-of-funds and invests primarily in the securities of the underlying funds that themselves seek investment results corresponding to their own underlying indexes.

Grade (RS Rating)

Last Trade

$20.04

Average Daily Volume

11,810

Number of Holdings ^*

10

* may have additional holdings in another (foreign) market

PFFL

ETRACS 2xMonthly Pay Leveraged Preferred Stock Index ETN due September 25, 2048

PFFL Description

The investment seeks to provide two times leveraged long exposure to the compounded monthly performance of the Solactive Preferred Stock ETF Index (the “index”). The index is designed to track the price movements of an equally weighted portfolio of two exchange-traded funds (“ETFs”) that hold preferred securities of various issuers. The Securities are two times leveraged with respect to the index and, as a result, will benefit from two times any beneficial, but will be exposed to two times any adverse, compounded monthly performance of the index.

Grade (RS Rating)

Last Trade

$9.68

Average Daily Volume

4,251

Number of Holdings ^*

2

* may have additional holdings in another (foreign) market

Performance

Period	IYLD	PFFL
30 Days	1.70%	2.16%
60 Days	1.23%	1.98%
90 Days	2.11%	2.42%
12 Months	9.47%	11.18%

1 Overlapping Holdings

	Symbol	Grade	Weight in IYLD	Weight in PFFL	Overlap
	PFF	A	15.24%	50.23%	15.24%

IYLD Overweight 9 Positions Relative to PFFL

	Symbol	Grade	Weight
	ISTB	A	15.2%
	USHY	A	15.05%
	FLOT	A	15.04%
	EFV	C	14.56%
	AGZ	A	5.41%
	USRT	A	5.26%
	CEMB	A	5.03%
	LEMB	A	4.63%
	ILF	F	4.54%

IYLD Underweight 1 Positions Relative to PFFL

	Symbol	Grade	Weight
	PGX	A	-49.77%

IYLD: Top Represented Industries & Keywords

Industries:

Keywords: Exchange Traded Fund ETF Bond Index Fund Bond Market Corporate Bond Bloomberg Barclays Us Aggregate Bond Index Exchange Traded Funds U.S. Government Barclays U.S. Government Bond Market Indices Currency Debenture Debt EAFE Futures Markets Ishares MSCI EAFE Money Market Fund Morningstar Mlp Composite Index Tr

PFFL: Top Represented Industries & Keywords

Industries:

Keywords: ETF Exchange Traded Fund Bond Market Indices Credit Rating Agency Currency Exchange Traded Funds Invesco Powershares Merrill Lynch Nasdaq 100 New York Stock Exchange Nyse Euronext S&P 500 Index CBOE Stock Market Index