CEFD vs. CCEF ETF Comparison

Comparison of ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN (CEFD) to Calamos CEF Income & Arbitrage ETF (CCEF)

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

$20.06

Average Daily Volume

1,992

Number of Holdings ^*

* may have additional holdings in another (foreign) market

CCEF

Calamos CEF Income & Arbitrage ETF

CCEF Description

The fund is an actively managed exchange-traded fund (ETF) that seeks high current income and long-term capital appreciation by investing in unaffiliated closed-end funds that the fund's investment adviser, Calamos Advisors LLC, believes offer both attractive income opportunities as well as arbitrage opportunities resulting from such closed-end funds trading at attractive discounts. Under normal circumstances, the fund seeks to achieve its investment objectives by investing at least 80% of its net assets in U.S. and non-U.S. closed-end funds. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$27.85

Average Daily Volume

2,735

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CEFD	CCEF
30 Days	-1.62%	-2.76%
60 Days	1.60%	0.09%
90 Days	7.27%	4.61%
12 Months	33.63%

15 Overlapping Holdings

Symbol	Grade	Weight in CEFD	Weight in CCEF	Overlap
BDJ	A	2.39%	2.69%	2.39%
BME	D	0.54%	0.86%	0.54%
CII	C	1.07%	0.22%	0.22%
DIAX	B	0.69%	1.98%	0.69%
ERC	D	0.57%	2.99%	0.57%
EVV	A	2.63%	0.98%	0.98%
FFC	D	0.83%	2.05%	0.83%
HTD	C	0.94%	3.0%	0.94%
HYI	A	0.55%	1.0%	0.55%
JPC	A	1.18%	1.54%	1.18%
JQC	A	1.66%	1.93%	1.66%
NBB	C	0.71%	2.07%	0.71%
PDT	D	0.69%	4.24%	0.69%
RA	A	1.17%	3.06%	1.17%
TSI	B	0.37%	1.14%	0.37%

CEFD Overweight 84 Positions Relative to CCEF

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

CEFD Underweight 23 Positions Relative to CCEF

Symbol	Grade	Weight
THQ	D	-3.78%
KYN	B	-3.43%
EXG	C	-3.39%
ETW	A	-3.2%
AOD	C	-2.98%
RIV	B	-2.98%
ASGI	A	-2.78%
ASG	B	-2.72%
BBN	C	-2.62%
IIF	C	-2.56%
IFN	D	-2.4%
RQI	D	-2.21%
NML	B	-2.19%
EVT	C	-1.96%
HFRO	F	-1.75%
EMF	C	-1.57%
NTG	A	-1.51%
IGR	D	-1.18%
BTO	A	-1.1%
FAX	D	-1.02%
USA	B	-1.01%
RMT	D	-0.98%
ACP	A	-0.97%

CEFD: Top Represented Industries & Keywords

Industries: Asset Management

CCEF: Top Represented Industries & Keywords

Industries: Asset Management