CEFD vs. FPE ETF Comparison

Comparison of ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN (CEFD) to First Trust Preferred Securities and Income ETF ETF (FPE)

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

$18.54

Average Daily Volume

2,427

Number of Holdings ^*

100

* may have additional holdings in another (foreign) market

FPE

First Trust Preferred Securities and Income ETF ETF

FPE Description

The investment seeks total return and to provide current income. The fund invests at least 80% of its net assets (including investment borrowings) in preferred securities ("Preferred Securities") and income-producing debt securities ("Income Securities"). It invests in securities that are traded over-the-counter or listed on an exchange. The fund may invest in U.S. and non-U.S. debt and equity securities that are traded over-the-counter or listed on an exchange. It invests at least 60% of its net assets in securities rated investment grade (BBB-/Baa3 or higher) at the time of purchase. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$17.03

Average Daily Volume

1,326,606

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CEFD	FPE
30 Days	-4.98%	-1.29%
60 Days	-1.67%	0.14%
90 Days	1.01%	1.06%
12 Months	10.91%	13.56%

0 Overlapping Holdings

	Symbol	Grade	Weight in CEFD	Weight in FPE	Overlap

CEFD Overweight 100 Positions Relative to FPE

Symbol	Grade	Weight
EVV	C	2.63%
BDJ	B	2.39%
HYT	A	2.19%
BTZ	C	2.16%
NXDT	F	1.9%
AWF	B	1.83%
DSL	C	1.77%
JQC	A	1.66%
BXMX	C	1.65%
EMD	C	1.5%
WIW	B	1.37%
BHK	D	1.3%
QQQX	C	1.26%
BOE	C	1.23%
BCX	A	1.2%
HIO	C	1.19%
JPC	B	1.18%
RA	D	1.17%
GHY	C	1.16%
BGY	C	1.09%
CII	C	1.07%
HIX	D	1.01%
BIT	B	1.01%
EOS	C	1.0%
IGD	A	0.98%
EFT	A	0.95%
FSD	C	0.95%
HTD	A	0.94%
BST	C	0.92%
BLW	C	0.92%
EAD	C	0.9%
ISD	C	0.88%
LDP	C	0.84%
FFC	C	0.83%
EFR	A	0.82%
FRA	A	0.82%
TEI	C	0.75%
PHK	C	0.75%
EOI	D	0.73%
MIN	C	0.71%
EHI	C	0.71%
NBB	D	0.71%
MCR	C	0.7%
PDT	C	0.69%
DIAX	C	0.69%
PPT	C	0.67%
WIA	B	0.66%
MMT	B	0.64%
GOF	A	0.64%
JPI	A	0.63%
BKT	D	0.62%
PFN	C	0.59%
JGH	C	0.59%
FCT	A	0.58%
ERC	D	0.57%
HPS	B	0.55%
HYI	D	0.55%
DFP	C	0.55%
BME	C	0.54%
BGT	B	0.49%
HPI	B	0.47%
PHD	A	0.44%
BGH	A	0.44%
FTF	A	0.43%
GBAB	D	0.42%
HYB	C	0.39%
EVG	B	0.38%
IDE	B	0.38%
DHF	C	0.38%
PHT	C	0.38%
TSI	C	0.37%
ETB	B	0.37%
FT	A	0.37%
STK	C	0.37%
DHY	A	0.36%
HPF	A	0.36%
MSD	C	0.34%
INSI	B	0.34%
FFA	C	0.32%
DBL	C	0.31%
GDO	C	0.31%
PSF	C	0.31%
VBF	D	0.3%
BGR	A	0.3%
PIM	C	0.3%
PFL	B	0.29%
IGA	A	0.29%
OPP	B	0.29%
SPXX	C	0.27%
FLC	C	0.24%
MCN	C	0.24%
CIK	C	0.24%
WEA	B	0.22%
FAM	C	0.21%
VLT	B	0.19%
MGF	B	0.19%
VGI	C	0.18%
HEQ	C	0.18%
GNT	A	0.14%
JLS	A	0.14%

CEFD Underweight 17 Positions Relative to FPE

Symbol	Grade	Weight
AQNB	A	-0.52%
SREA	D	-0.4%
BPYPN	A	-0.35%
T	C	-0.33%
AGNC	C	-0.29%
WTFCP	A	-0.28%
BPYPO	B	-0.28%
BIL	A	-0.27%
AIZN	D	-0.22%
UZE	D	-0.21%
CMSC	D	-0.18%
CHSCM	C	-0.18%
BPYPM	A	-0.15%
CMSD	D	-0.12%
DTW	D	-0.06%
MGR	C	-0.05%
BPYPP	A	-0.02%

CEFD: Top Represented Industries & Keywords

Industries: Asset Management