CEFD vs. FCEF ETF Comparison

Comparison of ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN (CEFD) to First Trust CEF Income Opportunity ETF (FCEF)

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

FCEF

First Trust CEF Income Opportunity ETF

FCEF Description

The First Trust CEF Income Opportunity ETF is an actively managed exchange-traded fund. The Fund's investment objective is to provide current income with a secondary emphasis on total return. Under normal market conditions, the Fund will seek to achieve its investment objectives by investing at least 80% of its net assets (including investment borrowings) in a portfolio of closed-end investment companies that are listed and traded in the United States on registered exchanges.

Grade (RS Rating)

Last Trade

$21.90

Average Daily Volume

7,737

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CEFD	FCEF
30 Days	-1.62%	-1.08%
60 Days	1.60%	1.26%
90 Days	7.27%	4.46%
12 Months	33.63%	26.32%

14 Overlapping Holdings

Symbol	Grade	Weight in CEFD	Weight in FCEF	Overlap
BCX	B	1.2%	0.74%	0.74%
BIT	B	1.01%	0.73%	0.73%
BME	D	0.54%	0.49%	0.49%
CII	C	1.07%	1.01%	1.01%
EVG	A	0.38%	1.47%	0.38%
HIO	A	1.19%	0.72%	0.72%
HTD	C	0.94%	3.4%	0.94%
JLS	A	0.14%	0.48%	0.14%
JPC	A	1.18%	2.43%	1.18%
JQC	A	1.66%	2.63%	1.66%
NBB	C	0.71%	0.97%	0.71%
QQQX	A	1.26%	0.99%	0.99%
RA	A	1.17%	1.23%	1.17%
WIW	A	1.37%	0.5%	0.5%

CEFD Overweight 85 Positions Relative to FCEF

Symbol	Grade	Weight
EVV	A	2.63%
BDJ	A	2.39%
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%
BHK	C	1.3%
BOE	B	1.23%
GHY	A	1.16%
BGY	D	1.09%
HIX	A	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%
FFC	D	0.83%
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%
PDT	D	0.69%
DIAX	B	0.69%
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%
ERC	D	0.57%
HPS	D	0.55%
HYI	A	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%
IDE	A	0.38%
DHF	C	0.38%
PHT	C	0.38%
TSI	B	0.37%
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%

CEFD Underweight 31 Positions Relative to FCEF

Symbol	Grade	Weight
ETG	C	-4.05%
THQ	D	-3.5%
HQH	D	-3.44%
ASGI	A	-3.28%
ETO	C	-3.26%
EVT	C	-3.24%
SOR	A	-3.2%
VRIG	A	-3.16%
GDV	C	-2.99%
TY	A	-2.53%
RNP	D	-2.51%
UTF	C	-2.47%
PDO	D	-2.26%
BGB	A	-2.22%
NPFD	A	-2.2%
BCAT	C	-2.16%
CET	A	-2.04%
GAM	C	-2.02%
UTG	B	-1.85%
JFR	A	-1.62%
JRI	B	-1.47%
PEO	B	-1.43%
PDX	C	-1.23%
AIO	B	-1.04%
KYN	B	-0.77%
BUI	D	-0.75%
TPZ	A	-0.52%
RMT	D	-0.51%
ARDC	B	-0.49%
HQL	D	-0.48%
DLY	C	-0.23%

CEFD: Top Represented Industries & Keywords

Industries: Asset Management

FCEF: Top Represented Industries & Keywords

Industries: Asset Management