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

$21.09

Average Daily Volume

140,460

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

$10.31

Average Daily Volume

1,187

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	PFLD	IPPP
30 Days	-0.05%	-1.28%
60 Days	1.05%	2.09%
90 Days	1.38%	5.20%
12 Months	9.55%	20.75%

9 Overlapping Holdings

Symbol	Grade	Weight in PFLD	Weight in IPPP	Overlap
AGNC	D	0.84%	1.39%	0.84%
AQNB	A	0.54%	1.27%	0.54%
CMSD	C	0.93%	0.6%	0.6%
NRUC	C	0.37%	1.0%	0.37%
PRS	C	0.84%	0.58%	0.58%
RZB	C	0.6%	0.57%	0.57%
SREA	A	1.12%	1.21%	1.12%
TBC	D	1.23%	0.59%	0.59%
WTFCP	A	0.43%	1.25%	0.43%

PFLD Overweight 32 Positions Relative to IPPP

Symbol	Grade	Weight
TBB	C	1.91%
CHSCL	A	0.8%
QRTEP	F	0.76%
CHSCM	B	0.74%
DUKB	C	0.74%
FITBI	A	0.69%
SOJC	D	0.65%
CHSCN	A	0.64%
DTW	D	0.58%
AGNCN	A	0.5%
ESGRP	B	0.5%
MGR	C	0.45%
UNMA	D	0.45%
CMSC	C	0.41%
GPJA	D	0.39%
DDT	A	0.31%
CMSA	C	0.3%
FCNCO	C	0.29%
SLMBP	D	0.28%
TVE	C	0.28%
NYMTM	A	0.27%
AFGD	C	0.22%
NYMTN	A	0.21%
WTFCM	A	0.19%
NYMTL	A	0.18%
AFGB	C	0.18%
VLYPP	B	0.17%
BPOPM	A	0.16%
ENO	C	0.16%
VLYPO	C	0.15%
RILYN	B	0.13%
FATBP	F	0.11%

PFLD Underweight 3 Positions Relative to IPPP

Symbol	Grade	Weight
UZE	B	-1.33%
T	A	-0.95%
SOJD	D	-0.54%

IPPP: Top Represented Industries & Keywords

Industries: Other Banks - Regional REIT - Residential Telecom Services