HDLB vs. FUTY ETF Comparison

Comparison of ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B due September 30, 2044 (HDLB) to Fidelity MSCI Utilities Index ETF (FUTY)

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

$15.47

Average Daily Volume

2,751

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FUTY

Fidelity MSCI Utilities Index ETF

FUTY Description

The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Utilities Index. Investing at least 80% of assets in securities included in the fund's underlying index. The fund's underlying index is the MSCI USA IMI Utilities Index, which represents the performance of the utilities sector in the U.S. equity market. It may or may not hold all of the securities in the MSCI USA IMI Utilities Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$52.44

Average Daily Volume

289,758

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	HDLB	FUTY
30 Days	4.78%	-0.32%
60 Days	9.79%	1.61%
90 Days	17.43%	8.69%
12 Months	63.28%	35.17%

13 Overlapping Holdings

Symbol	Grade	Weight in HDLB	Weight in FUTY	Overlap
AEP	D	2.58%	3.79%	2.58%
D	C	2.76%	3.61%	2.76%
DUK	C	3.27%	6.55%	3.27%
ED	D	1.85%	2.52%	1.85%
EIX	B	1.34%	2.42%	1.34%
ETR	B	1.73%	2.41%	1.73%
FE	C	1.42%	1.71%	1.42%
NI	A	0.91%	1.24%	0.91%
OGE	B	0.43%	0.64%	0.43%
PNW	B	0.78%	0.79%	0.78%
PPL	B	1.48%	1.88%	1.48%
SO	D	2.94%	7.27%	2.94%
SRE	A	1.71%	4.39%	1.71%

HDLB Overweight 24 Positions Relative to FUTY

Symbol	Grade	Weight
PFE	D	13.4%
ABBV	D	9.8%
VZ	C	9.25%
T	A	8.79%
GILD	C	5.14%
IBM	C	5.12%
PM	B	3.83%
MO	A	3.18%
O	D	2.51%
VICI	C	1.93%
KHC	F	1.93%
K	A	1.47%
NLY	C	1.43%
IP	B	1.22%
MPW	F	1.04%
AGNC	D	1.03%
WPC	D	0.76%
WU	D	0.73%
ARCC	A	0.46%
GLPI	C	0.44%
STAG	F	0.4%
FSK	A	0.25%
KD	B	0.14%
ONL	C	0.07%

HDLB Underweight 54 Positions Relative to FUTY

Symbol	Grade	Weight
NEE	D	-11.85%
CEG	D	-5.45%
VST	B	-3.69%
PEG	A	-3.32%
PCG	A	-3.27%
XEL	A	-2.93%
EXC	C	-2.92%
WEC	A	-2.33%
AWK	D	-1.97%
DTE	C	-1.89%
AEE	A	-1.83%
ATO	A	-1.67%
ES	D	-1.66%
CMS	C	-1.54%
CNP	B	-1.47%
NRG	B	-1.46%
LNT	A	-1.17%
EVRG	A	-1.11%
WTRG	B	-0.76%
AES	F	-0.76%
IDA	A	-0.45%
NFG	A	-0.4%
UGI	A	-0.37%
NJR	A	-0.36%
POR	C	-0.36%
ORA	B	-0.33%
BKH	A	-0.33%
SWX	B	-0.33%
OGS	A	-0.32%
PNM	F	-0.3%
ALE	A	-0.29%
SR	A	-0.29%
MGEE	C	-0.29%
MDU	D	-0.27%
NWE	B	-0.26%
AWR	B	-0.24%
OTTR	C	-0.23%
CPK	A	-0.22%
CWT	D	-0.22%
AVA	A	-0.22%
CWEN	C	-0.17%
SJW	D	-0.13%
NWN	A	-0.12%
NEP	F	-0.12%
HE	C	-0.12%
MSEX	B	-0.09%
CWEN	C	-0.07%
UTL	B	-0.07%
OKLO	B	-0.06%
YORW	D	-0.04%
NOVA	F	-0.03%
GNE	D	-0.02%
MNTK	F	-0.02%
AMPS	C	-0.02%