ARKX vs. HDLB ETF Comparison

Comparison of ARK Space Exploration & Innovation ETF (ARKX) to ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B due September 30, 2044 (HDLB)

ARKX

ARK Space Exploration & Innovation ETF

ARKX Description

The ARK Space Exploration & Innovation ETF’s (“Fund”) investment objective is long-term growth of capital. ARKX is an actively-managed exchange-traded fund (“ETF”) that will invest under normal circumstances primarily (at least 80% of its assets) in domestic and foreign equity securities of companies that are engaged in the Fund’s investment theme of Space Exploration and innovation. The Adviser defines “Space Exploration” as leading, enabling, or benefitting from technologically enabled products and/or services that occur beyond the surface of the Earth. Orbital Aerospace Companies are companies that launch, make, service, or operate platforms in the orbital space, including satellites and launch vehicles. Suborbital Aerospace Companies are companies that launch, make, service, or operate platforms in the suborbital space, but do not reach a velocity needed to remain in orbit around a planet. Enabling Technologies Companies are companies that develop technologies used by Space Exploration related companies for successful value-add aerospace operations. These operations include artificial intelligence, robotics, 3D printing, materials and energy storage. Aerospace Beneficiary Companies are companies whose operations stand to benefit from aerospace activities, including agriculture, internet access, global positioning system (GPS), construction, imaging, drones, air taxis and electric aviation vehicles.

Grade (RS Rating)

Last Trade

$18.48

Average Daily Volume

64,569

Number of Holdings ^*

* may have additional holdings in another (foreign) market

HDLB

ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B due September 30, 2044

HDLB Description

The investment seeks to provide two times leveraged long exposure to the compounded monthly performance of the Solactive US High Dividend Low Volatility Index. The index is designed to measure the performance of 40 dividend yielding, relatively lower volatility Index Constituent Securities from the universe of the largest 1,000 U.S. listed stocks by market capitalization, as described herein. The Securities seek to approximate the monthly returns that might be available to investors through a leveraged “long” investment in the index constituent securities.

Grade (RS Rating)

Last Trade

$15.34

Average Daily Volume

2,793

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	ARKX	HDLB
30 Days	7.82%	4.12%
60 Days	15.77%	8.71%
90 Days	19.22%	16.51%
12 Months	28.68%	59.75%

0 Overlapping Holdings

	Symbol	Grade	Weight in ARKX	Weight in HDLB	Overlap

ARKX Overweight 25 Positions Relative to HDLB

Symbol	Grade	Weight
KTOS	C	9.84%
RKLB	B	9.73%
IRDM	F	8.3%
AVAV	C	7.36%
TRMB	B	6.82%
TER	F	5.43%
LHX	B	4.58%
AMZN	B	3.85%
PLTR	B	3.78%
ACHR	B	3.22%
BLDE	D	3.2%
GRMN	B	2.77%
DE	C	2.28%
JOBY	B	2.2%
GOOG	B	2.13%
PRNT	B	1.77%
HEI	A	1.56%
HON	B	1.42%
TDY	B	1.36%
PATH	C	1.25%
SNPS	C	1.2%
LMT	D	1.2%
AMD	F	1.12%
ANSS	B	0.99%
DDD	C	0.77%

ARKX Underweight 37 Positions Relative to HDLB

Symbol	Grade	Weight
PFE	F	-13.4%
ABBV	F	-9.8%
VZ	C	-9.25%
T	A	-8.79%
GILD	B	-5.14%
IBM	C	-5.12%
PM	A	-3.83%
DUK	C	-3.27%
MO	A	-3.18%
SO	C	-2.94%
D	C	-2.76%
AEP	C	-2.58%
O	D	-2.51%
VICI	C	-1.93%
KHC	F	-1.93%
ED	C	-1.85%
ETR	A	-1.73%
SRE	A	-1.71%
PPL	A	-1.48%
K	A	-1.47%
NLY	D	-1.43%
FE	C	-1.42%
EIX	C	-1.34%
IP	A	-1.22%
MPW	F	-1.04%
AGNC	C	-1.03%
NI	A	-0.91%
PNW	A	-0.78%
WPC	C	-0.76%
WU	F	-0.73%
ARCC	A	-0.46%
GLPI	C	-0.44%
OGE	A	-0.43%
STAG	D	-0.4%
FSK	A	-0.25%
KD	A	-0.14%
ONL	D	-0.07%