PFLD vs. IPPP ETF Comparison

Comparison of AAM Low Duration Preferred and Income Securities ETF (PFLD) to Preferred-Plus ETF (IPPP)

PFLD

AAM Low Duration Preferred and Income Securities ETF

PFLD Description

The investment seeks to track the total return performance, before fees and expenses, of the ICE 0-5 Year Duration Exchange-Listed Preferred & Hybrid Securities Index. The index measures the performance of exchange-listed, U.S. dollar-denominated preferred securities and hybrid securities listed on the New York Stock Exchange (NYSE) or NASDAQ Capital Market (NASDAQ) with an option-adjusted duration of less than 5 years. 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.

Grade (RS Rating)

Last Trade

$21.06

Average Daily Volume

133,402

Number of Holdings ^*

* may have additional holdings in another (foreign) market

IPPP

Preferred-Plus ETF

IPPP Description

The investment seeks to provide income. The fund invests at least 80% of its net assets (plus any borrowings made for investment purposes) in a portfolio of preferred securities issued by U.S. and non-U.S. companies. It may invest in preferred securities of all issuer capitalizations. The fund may also invest in publicly-traded partnerships (“PTPs”). The Advisor intends to maintain approximately 10% asset exposure to a credit spread options strategy, although market conditions may dictate additional exposure.

Grade (RS Rating)

Last Trade

$10.32

Average Daily Volume

1,224

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	PFLD	IPPP
30 Days	-0.42%	-1.46%
60 Days	-1.21%	-1.73%
90 Days	0.62%	2.30%
12 Months	8.92%	17.85%

9 Overlapping Holdings

Symbol	Grade	Weight in PFLD	Weight in IPPP	Overlap
AGNC	C	0.89%	1.41%	0.89%
AQNB	C	0.55%	1.26%	0.55%
CMSD	C	0.98%	0.6%	0.6%
NRUC	D	0.38%	0.97%	0.38%
PRS	C	0.87%	0.57%	0.57%
RZB	C	0.62%	0.57%	0.57%
SREA	D	1.17%	1.18%	1.17%
TBC	C	1.27%	0.58%	0.58%
WTFCP	A	0.45%	1.24%	0.45%

PFLD Overweight 32 Positions Relative to IPPP

Symbol	Grade	Weight
TBB	C	1.97%
CHSCL	B	0.84%
DUKB	D	0.78%
QRTEP	F	0.78%
CHSCM	D	0.78%
FITBI	B	0.71%
BAC	A	0.69%
SOJC	D	0.68%
CHSCN	D	0.67%
ESGRP	D	0.53%
AGNCN	A	0.52%
UNMA	C	0.47%
MGR	D	0.45%
CMSC	C	0.43%
DDT	B	0.32%
CMSA	C	0.31%
FCNCO	C	0.3%
SLMBP	C	0.29%
TVE	C	0.29%
NYMTM	A	0.28%
AFGD	C	0.23%
ZIONO	D	0.23%
NYMTN	D	0.21%
NYMTL	A	0.2%
AFGB	C	0.19%
WTFCM	A	0.19%
VLYPP	A	0.18%
ENO	D	0.17%
BPOPM	C	0.16%
VLYPO	B	0.15%
RILYN	C	0.14%
FATBP	F	0.11%

PFLD Underweight 3 Positions Relative to IPPP

Symbol	Grade	Weight
UZE	B	-1.35%
T	A	-0.93%
SOJD	D	-0.54%

IPPP: Top Represented Industries & Keywords

Industries: Other Banks - Regional REIT - Residential Telecom Services