MVRL vs. ADFI ETF Comparison

Comparison of ETRACS Monthly Pay 1.5X Leveraged Mortgage REIT ETN (MVRL) to Anfield Dynamic Fixed Income ETF (ADFI)

MVRL

ETRACS Monthly Pay 1.5X Leveraged Mortgage REIT ETN

MVRL Description

The investment seeks to provide 1.5 times leveraged long exposure to the compounded quarterly performance of the MVIS US Mortgage REITs Index, reduced by the Accrued Fees. The index is designed to track the overall performance of publicly-traded mortgage REITs that are listed and incorporated in the United States and derive at least 50% of their revenues from mortgage-related activity.

Grade (RS Rating)

Last Trade

$16.53

Average Daily Volume

9,096

Number of Holdings ^*

* may have additional holdings in another (foreign) market

ADFI

Anfield Dynamic Fixed Income ETF

ADFI Description

The investment seeks to provide total return with capital preservation as a secondary objective. The fund is an actively managed ETF that is a fund of funds, meaning that it primarily invests its assets in securities of other ETFs. It normally invests at least 80% of its net assets, including any borrowings for investment purposes, in other unaffiliated ETFs that invest in any facet of the global debt markets, including corporate bonds, U.S. government and agency securities, private debt, foreign sovereign bonds, convertible securities, bank loans, asset-backed securities, mortgage-backed securities, and cash equivalent instruments.

Grade (RS Rating)

Last Trade

$8.50

Average Daily Volume

13,789

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	MVRL	ADFI
30 Days	-4.75%	-2.74%
60 Days	-6.75%	-1.75%
90 Days	-0.58%	-0.18%
12 Months	21.76%	6.36%

0 Overlapping Holdings

	Symbol	Grade	Weight in MVRL	Weight in ADFI	Overlap

MVRL Overweight 23 Positions Relative to ADFI

Symbol	Grade	Weight
NLY	D	13.03%
AGNC	D	8.86%
STWD	D	8.19%
CIM	D	5.48%
HASI	B	5.04%
BXMT	C	4.84%
ABR	B	4.54%
TWO	F	4.01%
MFA	D	3.81%
PMT	D	3.79%
ARI	F	3.76%
LADR	B	3.51%
NYMT	D	3.26%
RWT	D	2.77%
EFC	D	2.49%
RC	F	2.05%
ORC	D	2.0%
ACRE	F	1.95%
BRSP	C	1.92%
KREF	D	1.86%
IVR	F	1.84%
ARR	D	1.83%
DX	C	1.48%

MVRL Underweight 4 Positions Relative to ADFI

Symbol	Grade	Weight
GOVT	C	-24.34%
PHB	C	-20.18%
MBB	D	-16.8%
IEF	D	-13.62%