HDLB vs. VOX ETF Comparison

Comparison of ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B due September 30, 2044 (HDLB) to Vanguard Telecom ETF - DNQ (VOX)

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

$11.46

Average Daily Volume

1,650

Number of Holdings ^*

* may have additional holdings in another (foreign) market

VOX

Vanguard Telecom ETF - DNQ

VOX Description

The investment seeks to track the performance of a benchmark index. The fund employs an indexing investment approach designed to track the performance of the MSCI US Investable Market Index (IMI)/Telecommunication Services 25/50, an index made up of stocks of large, mid-size, and small U.S. companies within the telecommunication services sector, as classified under the Global Industry Classification Standard. It attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$129.28

Average Daily Volume

177,022

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	HDLB	VOX
30 Days	-4.75%	-2.00%
60 Days	3.57%	0.74%
90 Days	4.05%	0.71%
12 Months	13.28%	35.35%

2 Overlapping Holdings

	Symbol	Grade	Weight in HDLB	Weight in VOX	Overlap
	T	B	8.79%	3.54%	3.54%
	VZ	D	9.25%	4.52%	4.52%

HDLB Overweight 35 Positions Relative to VOX

Symbol	Grade	Weight
PFE	C	13.4%
ABBV	D	9.8%
GILD	F	5.14%
IBM	D	5.12%
PM	A	3.83%
DUK	A	3.27%
MO	A	3.18%
SO	A	2.94%
D	A	2.76%
AEP	A	2.58%
O	A	2.51%
VICI	C	1.93%
KHC	B	1.93%
ED	A	1.85%
ETR	A	1.73%
SRE	A	1.71%
PPL	A	1.48%
K	A	1.47%
NLY	B	1.43%
FE	A	1.42%
EIX	A	1.34%
IP	C	1.22%
MPW	B	1.04%
AGNC	C	1.03%
NI	A	0.91%
PNW	A	0.78%
WPC	B	0.76%
WU	D	0.73%
ARCC	B	0.46%
GLPI	F	0.44%
OGE	A	0.43%
STAG	D	0.4%
FSK	B	0.25%
KD	D	0.14%
ONL	D	0.07%

HDLB Underweight 97 Positions Relative to VOX

Symbol	Grade	Weight
META	D	-22.39%
GOOGL	A	-13.02%
GOOG	A	-10.42%
DIS	C	-4.79%
CMCSA	F	-4.59%
NFLX	C	-4.54%
TMUS	A	-2.86%
TTD	B	-1.44%
EA	D	-1.29%
CHTR	D	-1.18%
TTWO	D	-1.1%
OMC	B	-1.03%
LYV	F	-0.99%
PINS	B	-0.99%
WBD	F	-0.94%
RBLX	C	-0.85%
IPG	F	-0.82%
SNAP	A	-0.81%
NWSA	D	-0.74%
MTCH	F	-0.73%
FOXA	A	-0.7%
ROKU	F	-0.66%
NYT	A	-0.64%
LBRDK	F	-0.6%
NXST	B	-0.56%
PARA	B	-0.44%
EDR	A	-0.44%
FYBR	B	-0.43%
ZI	D	-0.42%
WMG	C	-0.4%
FOX	A	-0.4%
IAC	B	-0.39%
NWS	D	-0.31%
ZD	D	-0.28%
IRDM	B	-0.28%
TRIP	C	-0.28%
TGNA	C	-0.27%
SIRI	F	-0.27%
CCOI	F	-0.27%
MSGS	B	-0.27%
YELP	B	-0.24%
CNK	D	-0.19%
CARG	A	-0.19%
CABO	F	-0.18%
SATS	B	-0.16%
LUMN	F	-0.15%
TDS	B	-0.15%
LBRDA	F	-0.14%
MGNI	D	-0.13%
MSGE	A	-0.12%
GSAT	D	-0.11%
SSTK	F	-0.11%
LGF.A	A	-0.1%
CARS	D	-0.1%
BMBL	F	-0.1%
LILAK	B	-0.09%
QNST	A	-0.09%
SCHL	D	-0.09%
PUBM	A	-0.09%
SHEN	F	-0.08%
TTGT	D	-0.08%
LGF.A	A	-0.07%
IAS	F	-0.07%
AMC	F	-0.07%
THRY	A	-0.07%
ZIP	F	-0.07%
IMAX	D	-0.07%
VMEO	D	-0.06%
IDT	B	-0.06%
CDLX	B	-0.05%
ADV	A	-0.05%
GTN	B	-0.05%
ATUS	F	-0.05%
STGW	B	-0.05%
GOGO	B	-0.05%
USM	B	-0.05%
BOC	C	-0.04%
MAX	B	-0.04%
BAND	A	-0.04%
CCO	C	-0.04%
ATEX	D	-0.04%
EB	F	-0.04%
FUBO	F	-0.04%
CNSL	B	-0.03%
MCS	F	-0.03%
ATNI	F	-0.03%
GCI	A	-0.03%
AMCX	F	-0.03%
WOW	D	-0.02%
IHRT	D	-0.02%
ANGI	D	-0.02%
SSP	D	-0.02%
MYPS	F	-0.02%
LILA	B	-0.02%
SKLZ	F	-0.01%
OB	B	-0.01%
SST	D	-0.0%