MVRL vs. VABS ETF Comparison

Comparison of ETRACS Monthly Pay 1.5X Leveraged Mortgage REIT ETN (MVRL) to Virtus Newfleet ABS/MBS ETF (VABS)

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

$16.76

Average Daily Volume

10,738

Number of Holdings ^*

* may have additional holdings in another (foreign) market

VABS

Virtus Newfleet ABS/MBS ETF

VABS Description

The Fund seeks to generate income by investing primarily in short-duration, investment-grade securitized debt across asset-backed securities (ABS) and mortgage-backed securities (MBS), including commercial and residential MBS. A disciplined, time-tested investment process and rigorous risk management approach seeks to target ABS and MBS with competitive yield and current income across undervalued areas of securitized credit markets.

Grade (RS Rating)

Last Trade

$24.17

Average Daily Volume

2,387

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	MVRL	VABS
30 Days	-1.10%	0.28%
60 Days	-5.98%	0.04%
90 Days	-2.91%	0.27%
12 Months	15.09%	6.93%

10 Overlapping Holdings

Symbol	Grade	Weight in MVRL	Weight in VABS	Overlap
ABR	C	4.54%	0.1%	0.1%
ARR	D	1.83%	1.25%	1.25%
CIM	D	5.48%	0.82%	0.82%
DX	B	1.48%	0.02%	0.02%
EFC	C	2.49%	1.89%	1.89%
IVR	F	1.84%	0.78%	0.78%
MFA	D	3.81%	0.86%	0.86%
NLY	C	13.03%	0.03%	0.03%
PMT	D	3.79%	0.21%	0.21%
TWO	D	4.01%	1.26%	1.26%

MVRL Overweight 13 Positions Relative to VABS

Symbol	Grade	Weight
AGNC	D	8.86%
STWD	C	8.19%
HASI	D	5.04%
BXMT	C	4.84%
ARI	C	3.76%
LADR	B	3.51%
NYMT	C	3.26%
RWT	D	2.77%
RC	D	2.05%
ORC	B	2.0%
ACRE	C	1.95%
BRSP	B	1.92%
KREF	D	1.86%

MVRL Underweight 40 Positions Relative to VABS

Symbol	Grade	Weight
RLJ	C	-4.48%
BW	D	-2.27%
BFS	C	-1.53%
EQC	B	-1.49%
DRH	B	-1.35%
PBI	B	-1.34%
GNL	F	-0.94%
F	C	-0.87%
DBRG	F	-0.62%
ET	A	-0.55%
EPR	D	-0.47%
MITT	D	-0.45%
CTO	B	-0.29%
PSEC	D	-0.23%
TDS	B	-0.23%
AHH	D	-0.17%
SHO	C	-0.17%
LXP	D	-0.17%
INN	D	-0.16%
ATCOL	A	-0.15%
BHR	B	-0.15%
UMH	C	-0.11%
ALLY	C	-0.1%
FTAI	B	-0.06%
ALTG	C	-0.05%
FHN	A	-0.04%
AL	B	-0.04%
CIO	D	-0.03%
SNV	B	-0.02%
CODI	B	-0.02%
PEB	D	-0.01%
CNO	A	-0.01%
VNO	B	-0.01%
BOH	B	-0.01%
SF	B	-0.01%
EQH	B	-0.01%
COF	B	-0.01%
IFF	D	-0.01%
JPM	A	-0.01%
NEE	D	-0.01%