MVRL vs. NETL ETF Comparison

Comparison of ETRACS Monthly Pay 1.5X Leveraged Mortgage REIT ETN (MVRL) to NETLease Corporate Real Estate ETF (NETL)

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

$17.95

Average Daily Volume

9,524

Number of Holdings ^*

* may have additional holdings in another (foreign) market

NETL

NETLease Corporate Real Estate ETF

NETL Description

The investment seeks to track the performance, before fees and expenses, of the Fundamental Income Net Lease Real Estate Index. The index is generally composed of the U.S.-listed equity securities of companies that derive at least 85% of their earnings or revenues from real estate operations in the net lease real estate sector ("Eligible Companies"). 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. It is non-diversified.

Grade (RS Rating)

Last Trade

$26.94

Average Daily Volume

12,541

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	MVRL	NETL
30 Days	-1.40%	1.42%
60 Days	5.13%	5.86%
90 Days	10.26%	17.19%
12 Months	23.51%	33.35%

0 Overlapping Holdings

	Symbol	Grade	Weight in MVRL	Weight in NETL	Overlap

MVRL Overweight 23 Positions Relative to NETL

Symbol	Grade	Weight
NLY	C	13.03%
AGNC	C	8.86%
STWD	C	8.19%
CIM	C	5.48%
HASI	C	5.04%
BXMT	C	4.84%
ABR	B	4.54%
TWO	D	4.01%
MFA	C	3.81%
PMT	B	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 20 Positions Relative to NETL

Symbol	Grade	Weight
WPC	C	-8.2%
NNN	A	-8.04%
O	A	-7.93%
VICI	C	-7.76%
STAG	D	-7.59%
IIPR	C	-4.23%
EPRT	C	-4.17%
GOOD	A	-4.08%
EPR	C	-4.07%
BNL	B	-4.01%
ADC	B	-4.01%
GTY	B	-3.96%
GNL	D	-3.93%
NTST	D	-3.87%
LXP	D	-3.85%
OLP	C	-3.74%
FCPT	C	-3.59%
PSTL	C	-3.49%
GLPI	B	-3.34%
PINE	C	-1.64%