CEFD vs. PFFA ETF Comparison

Comparison of ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN (CEFD) to Virtus InfraCap U.S. Preferred Stock ETF (PFFA)

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

$20.22

Average Daily Volume

1,947

Number of Holdings ^*

* may have additional holdings in another (foreign) market

PFFA

Virtus InfraCap U.S. Preferred Stock ETF

PFFA Description

The investment seeks current income and, secondarily, capital appreciation. Under normal market conditions, the fund will invest not less than 80% of its net assets (plus the amount of any borrowings for investment purposes) in U.S. preferred stock, and in derivatives and other instruments that have economic characteristics similar to such investments. The Sub-Adviser actively manages the fund's assets pursuant to a variety of quantitative, qualitative and relative valuation factors. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$22.46

Average Daily Volume

532,859

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CEFD	PFFA
30 Days	1.25%	-0.31%
60 Days	1.17%	-0.25%
90 Days	4.45%	5.09%
12 Months	29.61%	29.22%

0 Overlapping Holdings

	Symbol	Grade	Weight in CEFD	Weight in PFFA	Overlap

CEFD Overweight 99 Positions Relative to PFFA

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

CEFD Underweight 22 Positions Relative to PFFA

Symbol	Grade	Weight
SLMBP	C	-2.96%
NYMTN	D	-2.35%
VLYPP	A	-1.88%
NEE	D	-1.62%
NYMTM	B	-1.57%
CTDD	C	-1.28%
UGI	A	-0.87%
HTIBP	D	-0.58%
VLYPO	B	-0.38%
LBRDP	C	-0.32%
UZE	B	-0.13%
OXLCO	A	-0.12%
ATLCP	A	-0.07%
OZKAP	D	-0.04%
WTFCP	A	-0.03%
DCOMP	C	-0.02%
XOMAP	D	-0.02%
LANDO	B	-0.02%
NYMTL	A	-0.01%
ESGRP	D	-0.0%
GTLS	B	-0.0%
SREA	D	-0.0%

CEFD: Top Represented Industries & Keywords

Industries: Asset Management