HDLB vs. FDL ETF Comparison

Comparison of ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B due September 30, 2044 (HDLB) to First Trust Morningstar ETF (FDL)

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

$15.37

Average Daily Volume

2,793

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FDL

First Trust Morningstar ETF

FDL Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Morningstar(R) Dividend Leaders Index(SM). The fund will normally invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the index. The objective of the index is to offer investors a benchmark for dividend portfolios as well as a means to invest in a portfolio of stocks that have a consistent record of growing dividends as well as the ability to sustain them. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$42.86

Average Daily Volume

360,890

Number of Holdings ^*

100

* may have additional holdings in another (foreign) market

Performance

Period	HDLB	FDL
30 Days	4.12%	0.95%
60 Days	8.71%	2.07%
90 Days	16.51%	5.11%
12 Months	59.75%	31.12%

17 Overlapping Holdings

Symbol	Grade	Weight in HDLB	Weight in FDL	Overlap
ABBV	F	9.8%	6.79%	6.79%
AEP	C	2.58%	1.21%	1.21%
DUK	C	3.27%	2.18%	2.18%
EIX	C	1.34%	0.83%	0.83%
ETR	A	1.73%	0.82%	0.82%
FE	C	1.42%	0.57%	0.57%
GILD	B	5.14%	3.11%	3.11%
IBM	C	5.12%	4.35%	4.35%
K	A	1.47%	0.42%	0.42%
KHC	F	1.93%	0.91%	0.91%
MO	A	3.18%	4.96%	3.18%
OGE	A	0.43%	0.25%	0.25%
PFE	F	13.4%	5.94%	5.94%
PM	A	3.83%	5.87%	3.83%
PNW	A	0.78%	0.29%	0.29%
VZ	C	9.25%	7.42%	7.42%
WU	F	0.73%	0.2%	0.2%

HDLB Overweight 20 Positions Relative to FDL

Symbol	Grade	Weight
T	A	8.79%
SO	C	2.94%
D	C	2.76%
O	D	2.51%
VICI	C	1.93%
ED	C	1.85%
SRE	A	1.71%
PPL	A	1.48%
NLY	D	1.43%
IP	A	1.22%
MPW	F	1.04%
AGNC	C	1.03%
NI	A	0.91%
WPC	C	0.76%
ARCC	A	0.46%
GLPI	C	0.44%
STAG	D	0.4%
FSK	A	0.25%
KD	A	0.14%
ONL	D	0.07%

HDLB Underweight 83 Positions Relative to FDL

Symbol	Grade	Weight
CVX	A	-9.22%
UPS	C	-3.49%
USB	A	-2.44%
CVS	D	-2.33%
TFC	B	-2.19%
PNC	B	-2.12%
KMI	A	-2.06%
OKE	A	-1.96%
F	C	-1.78%
PRU	B	-1.46%
FANG	C	-1.25%
DOW	F	-1.23%
KMB	C	-1.08%
EXC	C	-1.04%
XEL	A	-0.93%
TROW	B	-0.9%
LYB	F	-0.87%
FITB	B	-0.78%
HBAN	B	-0.78%
WEC	A	-0.76%
RF	A	-0.75%
STT	A	-0.67%
KEY	B	-0.66%
CFG	B	-0.64%
ES	C	-0.64%
AEE	A	-0.54%
BBY	D	-0.49%
EVRG	A	-0.44%
CLX	A	-0.43%
OMF	A	-0.42%
CAG	D	-0.41%
FNF	D	-0.37%
LNT	A	-0.35%
CMA	B	-0.33%
WHR	B	-0.33%
IPG	D	-0.33%
CNH	C	-0.32%
FHN	B	-0.31%
SJM	D	-0.31%
SWK	F	-0.31%
BEN	C	-0.28%
COLB	B	-0.28%
LNC	B	-0.26%
MTN	C	-0.24%
HAS	D	-0.24%
ZION	B	-0.23%
UGI	C	-0.22%
SNV	B	-0.21%
FMC	D	-0.19%
JHG	B	-0.19%
APAM	B	-0.17%
VLY	B	-0.17%
FAF	A	-0.16%
UBSI	B	-0.16%
OZK	B	-0.15%
NXST	D	-0.15%
POR	C	-0.14%
FIBK	A	-0.14%
SR	A	-0.13%
WEN	D	-0.13%
TNL	B	-0.13%
FLO	D	-0.13%
BKH	A	-0.13%
ALE	A	-0.12%
CC	C	-0.12%
NJR	A	-0.12%
ASB	B	-0.12%
NWE	C	-0.11%
PRGO	C	-0.11%
PNM	B	-0.11%
FHB	B	-0.11%
MSM	D	-0.11%
MAN	F	-0.1%
OGS	A	-0.1%
AVA	C	-0.1%
CATY	B	-0.09%
AGR	A	-0.09%
SMG	C	-0.09%
FHI	B	-0.09%
LCII	C	-0.08%
CRI	F	-0.06%
SIRI	D	-0.05%
GEF	A	-0.01%