HDLB vs. CRED ETF Comparison

Comparison of ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B due September 30, 2044 (HDLB) to Columbia Research Enhanced Real Estate ETF (CRED)

HDLB

ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B due September 30, 2044

HDLB Description

The investment seeks to provide two times leveraged long exposure to the compounded monthly performance of the Solactive US High Dividend Low Volatility Index. The index is designed to measure the performance of 40 dividend yielding, relatively lower volatility Index Constituent Securities from the universe of the largest 1,000 U.S. listed stocks by market capitalization, as described herein. The Securities seek to approximate the monthly returns that might be available to investors through a leveraged “long” investment in the index constituent securities.

Grade (RS Rating)

Last Trade

$14.59

Average Daily Volume

2,952

Number of Holdings ^*

* may have additional holdings in another (foreign) market

CRED

Columbia Research Enhanced Real Estate ETF

CRED Description

Columbia Research Enhanced Real Estate ETF (the Fund) seeks investment results that, before fees and expenses, closely correspond to the performance of the Beta Advantage® Lionstone Research Enhanced REIT Index (the Index). The Beta Advantage® Lionstone Research Enhanced REIT Index (the “Index”) aims to achieve stronger total return than the FTSE NAREIT All Equity REITs Index through a rules-based strategic beta approach. The Index methodology leverages proprietary research and insights from Lionstone Investments and Columbia Threadneedle Investments to score and weight each constituent within the FTSE NAREIT All Equity REITs Index on such factors as liquidity, income, geographic exposure, quality, value, catalyst and research rating.

Grade (RS Rating)

Last Trade

$23.01

Average Daily Volume

699

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	HDLB	CRED
30 Days	0.70%	-4.37%
60 Days	4.37%	-4.06%
90 Days	14.19%	4.19%
12 Months	51.83%	29.91%

4 Overlapping Holdings

Symbol	Grade	Weight in HDLB	Weight in CRED	Overlap
GLPI	D	0.44%	1.81%	0.44%
MPW	F	1.04%	0.47%	0.47%
O	D	2.51%	5.9%	2.51%
STAG	D	0.4%	0.96%	0.4%

HDLB Overweight 33 Positions Relative to CRED

Symbol	Grade	Weight
PFE	F	13.4%
ABBV	F	9.8%
VZ	C	9.25%
T	A	8.79%
GILD	B	5.14%
IBM	D	5.12%
PM	A	3.83%
DUK	C	3.27%
MO	A	3.18%
SO	C	2.94%
D	C	2.76%
AEP	C	2.58%
VICI	C	1.93%
KHC	F	1.93%
ED	D	1.85%
ETR	A	1.73%
SRE	A	1.71%
PPL	A	1.48%
K	B	1.47%
NLY	C	1.43%
FE	C	1.42%
EIX	C	1.34%
IP	A	1.22%
AGNC	C	1.03%
NI	A	0.91%
PNW	A	0.78%
WPC	D	0.76%
WU	F	0.73%
ARCC	A	0.46%
OGE	A	0.43%
FSK	A	0.25%
KD	A	0.14%
ONL	D	0.07%

HDLB Underweight 66 Positions Relative to CRED

Symbol	Grade	Weight
AMT	D	-10.98%
SPG	A	-7.67%
EQIX	B	-7.18%
CCI	D	-6.96%
DLR	A	-6.22%
IRM	D	-3.91%
AVB	A	-3.32%
MAA	A	-3.18%
DOC	D	-2.75%
SBAC	D	-2.68%
INVH	D	-2.5%
WY	D	-2.39%
LAMR	D	-1.93%
AMH	C	-1.7%
BXP	D	-1.51%
BRX	A	-1.45%
OHI	C	-1.36%
SUI	D	-1.31%
HST	D	-1.27%
CUBE	C	-1.2%
KRG	B	-1.01%
FR	D	-0.92%
KRC	C	-0.87%
NNN	D	-0.85%
RHP	B	-0.85%
CUZ	B	-0.83%
HIW	D	-0.78%
EPR	D	-0.77%
SBRA	C	-0.76%
CTRE	D	-0.73%
VNO	B	-0.64%
APLE	B	-0.64%
NSA	C	-0.63%
PECO	A	-0.61%
EPRT	C	-0.54%
RYN	D	-0.51%
OUT	C	-0.51%
LXP	D	-0.49%
BNL	D	-0.43%
MAC	A	-0.43%
PK	C	-0.4%
CDP	C	-0.39%
SKT	A	-0.39%
PCH	D	-0.36%
DEI	B	-0.33%
GNL	D	-0.31%
UE	B	-0.28%
PDM	D	-0.27%
UNIT	B	-0.22%
XHR	B	-0.2%
RLJ	C	-0.19%
DRH	B	-0.19%
JBGS	D	-0.18%
SHO	D	-0.17%
AHH	D	-0.17%
BDN	D	-0.16%
UMH	C	-0.14%
ESRT	D	-0.13%
PEB	F	-0.12%
WSR	B	-0.12%
GMRE	D	-0.11%
INN	D	-0.09%
PGRE	C	-0.08%
HPP	F	-0.07%
ILPT	F	-0.02%
OPI	F	-0.01%