MVRL vs. ADPV ETF Comparison

Comparison of ETRACS Monthly Pay 1.5X Leveraged Mortgage REIT ETN (MVRL) to Adaptiv Select ETF (ADPV)

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

$16.58

Average Daily Volume

10,433

Number of Holdings ^*

* may have additional holdings in another (foreign) market

ADPV

Adaptiv Select ETF

ADPV Description

To achieve its investment objective of long-term capital appreciation, the fund will invest substantially all of its net assets in a portfolio of publicly-listed equity securities of U.S. large capitalization companies during broad U.S. equity market uptrends. The fund will primarily own common stocks, but may also invest in equity securities of REITS to the extent such REITS are among the 1,000 largest capitalized U.S.-listed stocks. It is non-diversified.

Grade (RS Rating)

Last Trade

$37.23

Average Daily Volume

6,377

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	MVRL	ADPV
30 Days	-4.26%	11.75%
60 Days	-9.73%	15.07%
90 Days	-2.76%	18.03%
12 Months	13.27%	57.54%

0 Overlapping Holdings

	Symbol	Grade	Weight in MVRL	Weight in ADPV	Overlap

MVRL Overweight 23 Positions Relative to ADPV

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

MVRL Underweight 25 Positions Relative to ADPV

Symbol	Grade	Weight
PLTR	B	-7.92%
APP	B	-6.12%
HOOD	B	-5.75%
PPC	B	-5.68%
HBAN	B	-5.31%
T	A	-4.74%
VIRT	A	-4.7%
AMCR	C	-4.61%
KEY	B	-4.53%
NU	C	-4.23%
KMI	A	-3.92%
MDU	D	-3.65%
RF	A	-3.54%
MTG	C	-3.43%
VST	A	-3.39%
TOST	A	-3.29%
CRBG	B	-3.28%
CPNG	D	-3.22%
OWL	A	-3.14%
HIW	D	-3.07%
AM	A	-2.76%
VKTX	F	-2.72%
GTES	A	-2.29%
EXEL	B	-1.94%
HAYW	B	-1.84%