BDCX vs. ERNZ ETF Comparison

Comparison of ETRACS Quarterly Pay 1.5X Leveraged Wells Fargo BDC Index ETN (BDCX) to TrueShares Active Yield ETF (ERNZ)

BDCX

ETRACS Quarterly Pay 1.5X Leveraged Wells Fargo BDC Index ETN

BDCX Description

The investment seeks to provide 1.5 times leveraged long exposure to the compounded quarterly performance of the Wells Fargo Business Development Company Index, reduced by the Accrued Fees. The index is intended to measure the performance of all business development companies listed on the New York Stock Exchange, NYSE AMEX or The Nasdaq Stock Market, Inc. that satisfy specified market capitalization and other eligibility requirements. It is a proprietary index of Wells Fargo Securities, LLC.

Grade (RS Rating)

Last Trade

$33.77

Average Daily Volume

2,321

Number of Holdings ^*

* may have additional holdings in another (foreign) market

ERNZ

TrueShares Active Yield ETF

ERNZ Description

The fund is an actively-managed ETF that seeks to deliver above-average yield relative to the broader market by purchasing a portfolio of 50 to 150 income generating securities. In pursuing its investment objective the fund also employs a secondary focus on capital preservation and the opportunity for long term growth of capital by seeking lower relative volatility compared to the broader market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$24.92

Average Daily Volume

227,769

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	BDCX	ERNZ
30 Days	0.24%	-1.68%
60 Days	2.88%
90 Days	7.83%
12 Months	35.77%

2 Overlapping Holdings

	Symbol	Grade	Weight in BDCX	Weight in ERNZ	Overlap
	OCSL	B	3.54%	2.45%	2.45%
	TSLX	B	4.71%	2.73%	2.73%

BDCX Overweight 21 Positions Relative to ERNZ

Symbol	Grade	Weight
ARCC	B	17.86%
FSK	B	11.43%
MAIN	B	5.85%
PSEC	B	5.48%
GBDC	D	4.5%
GSBD	B	4.48%
HTGC	A	4.42%
NMFC	D	3.68%
TCPC	B	2.36%
CGBD	A	2.28%
BCSF	C	2.09%
SLRC	B	2.05%
NEWT	D	1.96%
CSWC	C	1.82%
BBDC	B	1.72%
GAIN	D	1.69%
TPVG	F	1.57%
PFLT	B	1.45%
PNNT	B	1.4%
FDUS	C	1.28%
GLAD	A	1.22%

BDCX Underweight 7 Positions Relative to ERNZ

Symbol	Grade	Weight
GOF	A	-2.71%
INSW	B	-2.67%
CLM	A	-2.58%
DHT	C	-2.42%
NAT	C	-2.32%
GNL	D	-2.14%
CNA	B	-1.88%

BDCX: Top Represented Industries & Keywords

Industries: Asset Management Credit Services Specialty Finance

ERNZ: Top Represented Industries & Keywords

Industries: Shipping & Ports Asset Management Credit Services Insurance - Property & Casualty REIT - Diversified