SURI vs. MLPB ETF Comparison

Comparison of Simplify Exchange Traded Funds Simplify Propel Opportunities ETF (SURI) to ETRACS Alerian MLP Infrastructure Index ETN Series B due April 2, 2040 (MLPB)

SURI

Simplify Exchange Traded Funds Simplify Propel Opportunities ETF

SURI Description

The fund is an actively managed exchange-traded fund. The Sub-Adviser concentrates the fund's investments (i.e., invests more than 25% of its net assets) in the securities of issuers in the biotechnology, pharmaceuticals, healthcare technology, and life science tools and services industries. The Sub-Adviser employs an actively managed opportunistic multi-asset strategy that focuses on common stock, preferred stock, convertible bonds, structured notes, corporate notes and bonds, and ETFs that primarily invest in the preceding security types. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$22.11

Average Daily Volume

5,451

Number of Holdings ^*

* may have additional holdings in another (foreign) market

MLPB

ETRACS Alerian MLP Infrastructure Index ETN Series B due April 2, 2040

MLPB Description

The ETRACS Alerian MLP Infrastructure Index ETN Series B is senior unsecured debt securities issued by UBS that provide exposure to potential price appreciation in the Alerian MLP Infrastructure Index. The index, comprised of 22 energy infrastructure master limited partnerships, is a subset of the Alerian MLP Index. The index refers to the master limited partnerships included in the Alerian MLP Infrastructure Index as the “index constituents.” It constituents earn the majority of their cash flow from the transportation, storage, and processing of energy commodities. The index is intended to provide diversified exposure specifically to infrastructure investment.

Grade (RS Rating)

Last Trade

$25.02

Average Daily Volume

5,964

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	SURI	MLPB
30 Days	-6.88%	5.54%
60 Days	-4.91%	4.87%
90 Days	-2.90%	7.03%
12 Months	34.68%	24.71%

0 Overlapping Holdings

	Symbol	Grade	Weight in SURI	Weight in MLPB	Overlap

SURI Overweight 15 Positions Relative to MLPB

Symbol	Grade	Weight
APLT	C	24.2%
PAGP	A	21.27%
PHAT	F	8.7%
AKRO	C	6.84%
MDGL	C	5.87%
RNA	C	5.13%
ARDX	F	3.93%
TSAT	D	1.83%
SNDX	F	1.47%
KYMR	C	1.37%
KURA	F	1.3%
ACHV	F	0.99%
ATHA	D	0.62%
CMPS	F	0.56%
VRCA	F	0.27%

SURI Underweight 8 Positions Relative to MLPB

Symbol	Grade	Weight
MPLX	A	-10.54%
WES	C	-10.08%
PAA	A	-10.02%
EPD	A	-9.91%
ET	A	-9.16%
ENLC	A	-5.63%
CQP	B	-4.59%
GEL	D	-2.91%

SURI: Top Represented Industries & Keywords

Industries: Biotechnology Communication Equipment Medical Care Facilities Oil & Gas Midstream

MLPB: Top Represented Industries & Keywords

Industries: Oil & Gas Midstream Oil & Gas Pipelines