TLTW vs. FAIL ETF Comparison

Comparison of iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) to Cambria Global Tail Risk ETF (FAIL)

TLTW

iShares 20+ Year Treasury Bond BuyWrite Strategy ETF

TLTW Description

iShares 20+ Year Treasury Bond BuyWrite Strategy ETF is an exchange traded fund launched by BlackRock, Inc. It is managed by BlackRock Fund Advisors. The fund invests in fixed income markets of the United States. The fund invests through derivatives in U.S. dollar denominated fixed rate U.S. treasury securities with remaining maturity of greater than or equal to twenty years. It employs long/short strategy and uses derivatives such as options to create its portfolio. The fund seeks to track the performance of the Cboe TLT 2% OTM BuyWrite Index, by using representative sampling technique. IShares 20+ Year Treasury Bond BuyWrite Strategy ETF is domiciled in the United States.

Grade (RS Rating)

Last Trade

$26.49

Average Daily Volume

424,993

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FAIL

Cambria Global Tail Risk ETF

FAIL Description

The Cambria Tail Risk ETF seeks to mitigate significant downside market risk. The Fund intends to invest in a portfolio of "out of the money" put options purchased on the U.S. stock market. TAIL strategy offers the potential advantage of buying more puts when volatility is low and fewer puts when volatility is high. While a portion of the fund's assets will be invested in the basket of long put option premiums, the majority of fund assets will be invested in intermediate term US Treasuries. As the fund is designed to be a hedge against market declines and rising volatility, Cambria expects the fund to produce negative returns in the most years with rising markets or declining volatility.

Grade (RS Rating)

Last Trade

$16.72

Average Daily Volume

1,110

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	TLTW	FAIL
30 Days	1.62%	0.83%
60 Days	2.82%	0.56%
90 Days	3.84%	1.02%
12 Months	-10.21%	-9.92%

0 Overlapping Holdings

	Symbol	Grade	Weight in TLTW	Weight in FAIL	Overlap

TLTW Overweight 1 Positions Relative to FAIL

	Symbol	Grade	Weight
	TLT	A	99.3%

TLTW Underweight 1 Positions Relative to FAIL

	Symbol	Grade	Weight
	IEF	A	-24.14%

TLTW: Top Represented Industries & Keywords

Industries:

Keywords: Bloomberg Barclays Us Aggregate Bond Index Bond Bond Market ETF Exchange Traded Fund Government Bonds U.S. Government U.S. Treasury

FAIL: Top Represented Industries & Keywords

Industries:

Keywords: Bloomberg Barclays Us Aggregate Bond Index Bond Bond Market ETF Exchange Traded Fund Government Bonds U.S. Government U.S. Treasury