DFND vs. VCEB ETF Comparison

Comparison of Realty Shares DIVCON Dividend Defender ETF (DFND) to Vanguard ESG U.S. Corporate Bond ETF (VCEB)

DFND

Realty Shares DIVCON Dividend Defender ETF

DFND Description

The investment seeks long-term capital appreciation by tracking the performance, before fees and expenses, of the Reality Shares DIVCON Dividend Defender Index. The index is designed to select the companies for a long position that have the highest probability of increasing their dividend in a 12-month period and select the companies for a short position that have the highest probability of decreasing their dividend in a 12-month period. Under normal circumstances, at least 80% of the fund's assets (other than collateral held from securities lending, if any) will be invested in component securities of the benchmark index. It is non-diversified.

Grade (RS Rating)

Last Trade

$43.30

Average Daily Volume

849

Number of Holdings ^*

* may have additional holdings in another (foreign) market

VCEB

Vanguard ESG U.S. Corporate Bond ETF

VCEB Description

The investment seeks to track the performance of the Bloomberg Barclays MSCI US Corporate SRI Select Index (the ?index?). The index excludes bonds with maturities of 1 year or less and with less than $750 million outstanding, and is screened for certain environmental, social, and governance (ESG) criteria by the index provider, which is independent of Vanguard. All of the fund?s investments will be selected through the sampling process, and under normal circumstances, at least 80% of the fund?s assets will be invested in bonds included in the index.

Grade (RS Rating)

Last Trade

$62.67

Average Daily Volume

37,180

Number of Holdings ^*

245

* may have additional holdings in another (foreign) market

Performance

Period	DFND	VCEB
30 Days	6.81%	-0.53%
60 Days	3.15%	-2.92%
90 Days	13.91%	-1.82%
12 Months	14.05%	7.35%

32 Overlapping Holdings

Symbol	Grade	Weight in DFND	Weight in VCEB	Overlap
AAPL	C	0.95%	0.01%	0.01%
ADI	D	1.37%	0.01%	0.01%
AMAT	F	1.59%	0.01%	0.01%
AON	A	1.52%	0.01%	0.01%
AVGO	D	0.86%	0.02%	0.02%
BR	A	0.75%	0.02%	0.02%
CB	C	1.39%	0.01%	0.01%
CMCSA	B	1.15%	0.01%	0.01%
CME	B	1.24%	0.02%	0.02%
CMI	A	2.09%	0.02%	0.02%
CSCO	B	1.5%	0.02%	0.02%
CTAS	B	2.6%	0.04%	0.04%
ETN	A	1.74%	0.03%	0.03%
GWW	B	2.25%	0.04%	0.04%
INTC	C	-1.08%	0.01%	-1.08%
ITW	B	1.71%	0.03%	0.03%
KLAC	F	2.42%	0.01%	0.01%
LUV	C	-2.05%	0.01%	-2.05%
MA	B	1.75%	0.03%	0.03%
MCD	D	2.2%	0.01%	0.01%
MCHP	F	0.08%	0.04%	0.04%
MLM	C	0.8%	0.02%	0.02%
MMC	B	1.21%	0.04%	0.04%
MSFT	D	1.0%	0.01%	0.01%
MSI	B	1.86%	0.01%	0.01%
PG	C	2.27%	0.01%	0.01%
PPG	F	1.77%	0.03%	0.03%
SHW	B	2.25%	0.02%	0.02%
T	A	-2.19%	0.01%	-2.19%
V	A	2.68%	0.02%	0.02%
VFC	C	-1.1%	0.02%	-1.1%
VRSK	A	2.44%	0.04%	0.04%

DFND Overweight 38 Positions Relative to VCEB

Symbol	Grade	Weight
SNA	A	2.66%
FDS	B	2.22%
NDSN	B	2.22%
BRO	B	2.13%
MPC	D	2.11%
LMT	D	2.05%
PHM	D	2.0%
MCO	B	1.85%
ROK	C	1.65%
ALLE	C	1.51%
DHI	F	1.47%
HON	C	1.45%
J	D	1.42%
HSY	F	1.36%
MSCI	C	1.33%
MPWR	F	1.31%
HUBB	B	1.27%
CBOE	C	1.26%
COST	A	1.2%
LIN	C	1.2%
FAST	B	1.13%
LW	C	1.13%
AOS	F	1.09%
ALB	B	1.01%
GL	C	0.93%
ODFL	C	0.88%
INTU	B	0.78%
ACN	B	0.34%
PARA	C	-0.33%
APA	D	-0.82%
DVN	F	-1.12%
FCX	F	-1.86%
NWS	A	-1.96%
SW	A	-2.15%
IP	A	-2.32%
F	C	-2.41%
CNP	A	-2.56%
D	C	-2.96%

DFND Underweight 213 Positions Relative to VCEB

Symbol	Grade	Weight
DT	D	-0.19%
MTB	A	-0.07%
TJX	A	-0.07%
MOS	F	-0.06%
WEST	C	-0.06%
DD	C	-0.06%
PGR	A	-0.05%
AFL	B	-0.05%
MDT	D	-0.05%
EQH	C	-0.05%
LEN	D	-0.04%
KMB	C	-0.04%
OTIS	C	-0.04%
NOW	A	-0.04%
STLA	F	-0.04%
AZO	C	-0.04%
CPT	B	-0.04%
EXPE	B	-0.04%
FTV	C	-0.03%
EQR	C	-0.03%
DGX	A	-0.03%
VRSN	C	-0.03%
CMA	B	-0.03%
BWA	D	-0.03%
BG	D	-0.03%
SJM	D	-0.03%
ROP	B	-0.03%
RF	A	-0.03%
EG	C	-0.03%
PWR	A	-0.03%
DOC	C	-0.03%
ORLY	B	-0.03%
AMP	A	-0.03%
ACGL	C	-0.03%
NVR	D	-0.03%
LH	B	-0.03%
K	A	-0.03%
IFF	D	-0.03%
HAS	D	-0.03%
LLY	F	-0.03%
NTRS	A	-0.03%
BHF	C	-0.03%
SYF	B	-0.03%
CFG	B	-0.03%
GIS	D	-0.03%
DG	F	-0.03%
WAB	B	-0.03%
ADP	A	-0.03%
MU	D	-0.03%
BDX	F	-0.03%
EQIX	A	-0.03%
ZBH	C	-0.03%
ALLY	C	-0.03%
BMY	B	-0.03%
ABT	B	-0.03%
VOD	F	-0.03%
ABBV	F	-0.03%
HUN	F	-0.02%
HST	C	-0.02%
HRL	D	-0.02%
HIG	B	-0.02%
MKC	C	-0.02%
MCK	A	-0.02%
LEA	F	-0.02%
AJG	A	-0.02%
NTAP	C	-0.02%
A	D	-0.02%
QRVO	F	-0.02%
APH	A	-0.02%
RL	C	-0.02%
BEN	C	-0.02%
BAX	F	-0.02%
VTR	B	-0.02%
VMC	B	-0.02%
UHS	D	-0.02%
TT	A	-0.02%
CAH	B	-0.02%
XRAY	F	-0.02%
CSL	C	-0.02%
EMN	C	-0.02%
CF	A	-0.02%
RJF	A	-0.02%
AWK	C	-0.02%
O	C	-0.02%
HBAN	A	-0.02%
BLK	B	-0.02%
SWK	D	-0.02%
REGN	F	-0.02%
TRV	B	-0.02%
EFX	F	-0.02%
DLTR	F	-0.02%
DE	B	-0.02%
WBA	F	-0.02%
ADM	D	-0.02%
BKNG	A	-0.02%
SBUX	A	-0.02%
CPB	D	-0.02%
GLW	B	-0.02%
OMC	C	-0.02%
NEM	D	-0.02%
APD	A	-0.02%
FITB	B	-0.02%
CRM	B	-0.02%
BABA	D	-0.02%
DB	D	-0.02%
CARR	C	-0.02%
IBM	C	-0.02%
HCA	F	-0.02%
GOOGL	C	-0.02%
HSBC	A	-0.02%
GSK	F	-0.02%
AZN	F	-0.02%
ORCL	A	-0.02%
BAC	A	-0.02%
CHTR	C	-0.02%
VZ	C	-0.02%
EXP	B	-0.01%
GLPI	C	-0.01%
EA	A	-0.01%
WM	B	-0.01%
WB	D	-0.01%
MRVL	B	-0.01%
MDLZ	F	-0.01%
GPN	B	-0.01%
PLD	F	-0.01%
PH	A	-0.01%
RSG	A	-0.01%
BRX	A	-0.01%
EBAY	D	-0.01%
MMM	D	-0.01%
MAR	A	-0.01%
KEY	B	-0.01%
RPRX	D	-0.01%
ARE	F	-0.01%
SCHW	B	-0.01%
DLR	B	-0.01%
DHR	F	-0.01%
ZTS	D	-0.01%
TXN	C	-0.01%
NXPI	D	-0.01%
MET	A	-0.01%
KO	D	-0.01%
HUM	C	-0.01%
USB	A	-0.01%
TSN	B	-0.01%
BXP	C	-0.01%
BSX	A	-0.01%
TMO	F	-0.01%
BMO	A	-0.01%
BK	A	-0.01%
BERY	C	-0.01%
STT	B	-0.01%
AXP	A	-0.01%
PYPL	B	-0.01%
FIS	C	-0.01%
WELL	A	-0.01%
CM	A	-0.01%
CCI	C	-0.01%
AER	A	-0.01%
ADBE	C	-0.01%
NVDA	B	-0.01%
NKE	F	-0.01%
MRK	D	-0.01%
LOW	C	-0.01%
KDP	F	-0.01%
HPQ	B	-0.01%
CAT	B	-0.01%
CAG	F	-0.01%
BNS	A	-0.01%
SYY	D	-0.01%
SPG	A	-0.01%
PRU	A	-0.01%
AMT	C	-0.01%
FDX	B	-0.01%
DOW	F	-0.01%
DFS	B	-0.01%
PNC	B	-0.01%
PFE	F	-0.01%
PEP	F	-0.01%
AL	B	-0.01%
LRCX	F	-0.01%
ICE	C	-0.01%
HPE	B	-0.01%
GM	C	-0.01%
COF	C	-0.01%
CI	D	-0.01%
TGT	F	-0.01%
TD	D	-0.01%
BIIB	F	-0.01%
SYK	B	-0.01%
VTRS	A	-0.01%
UNH	B	-0.01%
TFC	A	-0.01%
AMGN	F	-0.01%
NWG	A	-0.01%
MUFG	B	-0.01%
JNJ	C	-0.01%
UPS	C	-0.01%
QCOM	F	-0.01%
AIG	B	-0.01%
HD	B	-0.01%
GILD	C	-0.01%
RY	A	-0.01%
C	A	-0.01%
FOXA	A	-0.01%
DIS	B	-0.01%
AMZN	C	-0.01%
DELL	B	-0.01%
JPM	A	-0.01%
TMUS	B	-0.01%
GS	A	-0.01%
MS	A	-0.01%
CVS	D	-0.01%