RULE vs. CEFD ETF Comparison

Comparison of Adaptive Core ETF (RULE) to ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN (CEFD)

RULE

Adaptive Core ETF

RULE Description

Adaptive Core ETF seeks current income. The fund invests in individual equity securities without regard to market capitalization and ETFs that invest in equity securities of any market capitalization including convertible equity securities and fixed income ETFs. The fund’s portfolio may hold securities from issuers of any market capitalization, credit quality, maturity, or country. Fixed income securities may include securities with credit quality below investment grade (commonly referred to as “junk bond” credit quality).

Grade (RS Rating)

Last Trade

$22.65

Average Daily Volume

6,177

Number of Holdings ^*

* may have additional holdings in another (foreign) market

CEFD

ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN

CEFD Description

The investment seeks to provide 1.5 times leveraged long exposure to the compounded quarterly performance of the S-Network Composite Closed-End Fund Index (the ?index?), reduced by the Accrued Fees. The index is a mutual fund index designed to serve as a benchmark for closed-end funds listed in the U.S. that are principally engaged in asset management processes designed to produce taxable annual yield.

Grade (RS Rating)

Last Trade

$20.04

Average Daily Volume

1,970

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	RULE	CEFD
30 Days	1.08%	-2.58%
60 Days	2.91%	0.54%
90 Days	3.57%	5.83%
12 Months	20.00%	29.71%

0 Overlapping Holdings

	Symbol	Grade	Weight in RULE	Weight in CEFD	Overlap

RULE Overweight 36 Positions Relative to CEFD

Symbol	Grade	Weight
BIL	A	4.29%
JPST	A	4.27%
NOW	B	3.52%
CRM	B	3.48%
ISRG	A	3.34%
APO	A	3.31%
XLG	B	3.11%
SPHQ	B	3.09%
PCAR	B	3.07%
EQIX	A	3.06%
AON	A	3.05%
IWF	B	2.98%
UBER	F	2.97%
CAH	A	2.96%
WMB	A	2.95%
INTU	B	2.94%
SPGI	C	2.87%
BK	A	2.86%
CPAY	A	2.84%
MPWR	F	2.76%
RMD	C	2.76%
PGR	B	2.72%
URI	B	2.68%
HD	A	2.64%
NFLX	A	2.62%
IRM	D	2.51%
FTNT	B	2.44%
WMT	A	2.44%
GPN	B	2.43%
IBM	D	2.42%
VRT	A	2.41%
PAYX	B	2.26%
REGN	F	2.15%
ADBE	F	1.95%
ARES	B	1.83%
FCNCA	A	0.01%

RULE Underweight 99 Positions Relative to CEFD

Symbol	Grade	Weight
EVV	C	-2.63%
BDJ	A	-2.39%
HYT	A	-2.19%
BTZ	D	-2.16%
NXDT	F	-1.9%
AWF	D	-1.83%
DSL	C	-1.77%
JQC	A	-1.66%
BXMX	A	-1.65%
EMD	D	-1.5%
WIW	C	-1.37%
BHK	D	-1.3%
QQQX	A	-1.26%
BOE	A	-1.23%
BCX	C	-1.2%
HIO	C	-1.19%
JPC	A	-1.18%
RA	C	-1.17%
GHY	C	-1.16%
BGY	D	-1.09%
CII	A	-1.07%
HIX	C	-1.01%
BIT	C	-1.01%
EOS	A	-1.0%
IGD	A	-0.98%
EFT	A	-0.95%
HTD	C	-0.94%
BST	B	-0.92%
BLW	C	-0.92%
EAD	D	-0.9%
ISD	C	-0.88%
LDP	C	-0.84%
FFC	D	-0.83%
EFR	A	-0.82%
FRA	A	-0.82%
TEI	D	-0.75%
PHK	B	-0.75%
EOI	A	-0.73%
MIN	C	-0.71%
EHI	D	-0.71%
NBB	D	-0.71%
MCR	D	-0.7%
PDT	C	-0.69%
DIAX	A	-0.69%
PPT	D	-0.67%
WIA	D	-0.66%
MMT	D	-0.64%
GOF	A	-0.64%
JPI	C	-0.63%
BKT	D	-0.62%
PFN	C	-0.59%
JGH	A	-0.59%
FCT	A	-0.58%
ERC	D	-0.57%
HPS	D	-0.55%
HYI	A	-0.55%
DFP	D	-0.55%
BME	D	-0.54%
BGT	A	-0.49%
HPI	D	-0.47%
PHD	A	-0.44%
BGH	B	-0.44%
FTF	D	-0.43%
GBAB	D	-0.42%
HYB	A	-0.39%
EVG	C	-0.38%
IDE	A	-0.38%
DHF	A	-0.38%
PHT	C	-0.38%
TSI	C	-0.37%
ETB	A	-0.37%
FT	A	-0.37%
STK	B	-0.37%
DHY	C	-0.36%
HPF	D	-0.36%
MSD	D	-0.34%
INSI	D	-0.34%
FFA	A	-0.32%
DBL	D	-0.31%
GDO	D	-0.31%
PSF	D	-0.31%
VBF	D	-0.3%
BGR	A	-0.3%
PIM	D	-0.3%
PFL	C	-0.29%
IGA	A	-0.29%
OPP	D	-0.29%
SPXX	A	-0.27%
FLC	D	-0.24%
MCN	C	-0.24%
CIK	D	-0.24%
WEA	A	-0.22%
FAM	B	-0.21%
VLT	C	-0.19%
MGF	D	-0.19%
VGI	C	-0.18%
HEQ	C	-0.18%
GNT	C	-0.14%
JLS	C	-0.14%

CEFD: Top Represented Industries & Keywords

Industries: Asset Management