MVRL vs. TAN ETF Comparison

Comparison of ETRACS Monthly Pay 1.5X Leveraged Mortgage REIT ETN (MVRL) to Invesco Solar ETF (TAN)

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

$16.56

Average Daily Volume

10,456

Number of Holdings ^*

* may have additional holdings in another (foreign) market

TAN

Invesco Solar ETF

TAN Description

The investment seeks to track the investment results (before fees and expenses) of the MAC Global Solar Energy Index. The fund will generally invest at least 90% of its total assets in the securities (including American depositary receipts (?ADRs?)) that comprise the index. Strictly in accordance with its guidelines and mandated procedures, MAC Indexing LLC compiles, maintains, and calculates the index, which is designed to track the global solar energy equity sector. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$34.30

Average Daily Volume

1,228,426

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	MVRL	TAN
30 Days	-7.22%	-8.92%
60 Days	-8.84%	-16.36%
90 Days	-1.87%	-17.31%
12 Months	13.61%	-27.62%

1 Overlapping Holdings

	Symbol	Grade	Weight in MVRL	Weight in TAN	Overlap
	HASI	F	5.04%	3.37%	3.37%

MVRL Overweight 22 Positions Relative to TAN

Symbol	Grade	Weight
NLY	C	13.03%
AGNC	C	8.86%
STWD	C	8.19%
CIM	D	5.48%
BXMT	C	4.84%
ABR	B	4.54%
TWO	D	4.01%
MFA	D	3.81%
PMT	D	3.79%
ARI	C	3.76%
LADR	B	3.51%
NYMT	C	3.26%
RWT	D	2.77%
EFC	C	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	A	1.48%

MVRL Underweight 15 Positions Relative to TAN

Symbol	Grade	Weight
FSLR	F	-9.67%
ENPH	F	-6.55%
RUN	F	-4.29%
ARRY	F	-3.08%
CWEN	C	-2.99%
DQ	D	-2.83%
JKS	F	-2.72%
AY	A	-2.33%
SEDG	F	-2.3%
SHLS	F	-2.2%
CSIQ	F	-1.81%
AMPS	C	-1.16%
NOVA	F	-1.12%
RNW	D	-0.94%
RENB	F	-0.64%