MVRL vs. LBAY ETF Comparison

Comparison of ETRACS Monthly Pay 1.5X Leveraged Mortgage REIT ETN (MVRL) to Leatherback Long/Short Alternative Yield ETF (LBAY)

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

$17.82

Average Daily Volume

9,525

Number of Holdings ^*

* may have additional holdings in another (foreign) market

LBAY

Leatherback Long/Short Alternative Yield ETF

LBAY Description

The investment seeks capital appreciation and income. The fund is an actively-managed ETF that seeks to achieve its investment objective by purchasing long positions in securities believed to provide sustainable shareholder yield (defined as dividends plus buybacks plus debt paydowns) and taking short positions in securities expected to decline in price. It will generally have net exposure of 75% - 110% long. The fund's long positions are generally expected to be comprised of equity securities or depositary receipts, although long positions may also include investment-grade corporate bonds and convertible bonds. It is non-diversified.

Grade (RS Rating)

Last Trade

$27.65

Average Daily Volume

2,601

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	MVRL	LBAY
30 Days	-2.10%	-0.70%
60 Days	4.38%	2.12%
90 Days	9.47%	7.84%
12 Months	28.85%	10.49%

1 Overlapping Holdings

	Symbol	Grade	Weight in MVRL	Weight in LBAY	Overlap
	AGNC	C	8.86%	4.24%	4.24%

MVRL Overweight 22 Positions Relative to LBAY

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

MVRL Underweight 55 Positions Relative to LBAY

Symbol	Grade	Weight
NEM	C	-4.99%
BG	F	-4.81%
XOM	A	-4.78%
ORI	B	-4.75%
MMM	C	-4.7%
FIS	C	-4.61%
LW	D	-4.4%
MO	D	-4.12%
CMCSA	B	-4.07%
ZBH	F	-4.05%
MDT	B	-4.03%
ICE	A	-4.02%
VTRS	D	-4.01%
AWK	B	-3.61%
ABBV	A	-3.58%
RIO	A	-3.52%
UNP	D	-3.43%
EBAY	A	-3.32%
V	C	-3.26%
PKG	C	-3.25%
APD	C	-3.2%
LHX	A	-3.08%
MTN	D	-3.08%
T	A	-3.03%
CARR	A	-2.97%
PCH	C	-2.91%
SPGI	C	-2.84%
MSCI	B	-2.79%
BKNG	C	-2.72%
DE	A	-2.7%
KDP	C	-2.62%
KO	C	-2.56%
SOLV	C	-2.09%
EVR	C	--1.19%
SITE	D	--1.25%
BURL	D	--1.25%
DKS	D	--1.27%
FIX	A	--1.28%
SHOP	C	--1.3%
EQIX	B	--1.31%
DLR	C	--1.33%
TXRH	A	--1.41%
AVGO	C	--1.49%
CMG	C	--1.52%
DUOL	B	--1.59%
SQ	D	--1.63%
VRT	B	--1.7%
KKR	A	--1.71%
OLLI	C	--1.78%
SF	A	--1.79%
CVNA	A	--1.8%
PLNT	B	--1.9%
RCL	C	--2.0%
TSLA	C	--2.08%
DASH	A	--2.13%