HIPS vs. ERNZ ETF Comparison

Comparison of Master Income ETF (HIPS) to TrueShares Active Yield ETF (ERNZ)
HIPS

Master Income ETF

HIPS Description

The Master Income ETF seeks to track the total return performance, before fees and expenses, of the TFMS HIPS 300 Index. The Index is constructed to capture 300 high income securities, typically with pass-through structures, across the following sectors: (i) closed-end funds (“CEFs”), (ii) mortgage real estate investment trusts (“REITs”), (iii) commercial equity REITs, (iv) residential/diversified REITs, (v) asset management and business development companies (“BDCs”), and (vi) energy production and energy transportation & processing companies. Energy-related companies included in the Index are expected to primarily be structured as master limited partnerships (“MLPs”). CEFs included in the Index are limited to taxable, debt-based funds and may include CEFs that invest primarily in bank loans, high-yield securities (also known as “junk bonds”), foreign securities (including those in emerging markets), and mortgage- or asset-backed securities. The Index is constituted using proprietary methodology developed by Trust and Fiduciary Management Services, Inc. The Index Provider determines the relative weightings of the securities in the Index and publishes information regarding the market value of the Index.

Grade (RS Rating)

Last Trade

$12.69

Average Daily Volume

36,464

Number of Holdings *

37

* may have additional holdings in another (foreign) market
ERNZ

TrueShares Active Yield ETF

ERNZ Description The fund is an actively-managed ETF that seeks to deliver above-average yield relative to the broader market by purchasing a portfolio of 50 to 150 income generating securities. In pursuing its investment objective the fund also employs a secondary focus on capital preservation and the opportunity for long term growth of capital by seeking lower relative volatility compared to the broader market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$24.57

Average Daily Volume

10,009

Number of Holdings *

158

* may have additional holdings in another (foreign) market
Performance
Period HIPS ERNZ
30 Days -1.45% -3.13%
60 Days -0.66% -1.20%
90 Days -0.34% -3.11%
12 Months 21.28%
8 Overlapping Holdings
Symbol Grade Weight in HIPS Weight in ERNZ Overlap
ARCC A 2.71% 0.28% 0.28%
FCT A 2.63% 0.6% 0.6%
FSK B 2.58% 1.3% 1.3%
GBDC C 2.55% 0.61% 0.61%
GNL D 2.03% 2.52% 2.03%
GSBD F 2.31% 0.78% 0.78%
KRP B 2.5% 1.3% 1.3%
OHI A 2.55% 0.23% 0.23%
HIPS Overweight 29 Positions Relative to ERNZ
Symbol Grade Weight
BGX D 2.79%
JQC C 2.76%
JFR B 2.73%
GTY B 2.65%
BXSL A 2.63%
EFT A 2.63%
ALX D 2.62%
LTC A 2.61%
BLW C 2.61%
DMLP B 2.6%
SLRC B 2.58%
GLPI C 2.58%
ET A 2.55%
NBB D 2.54%
SBRA A 2.53%
NNN C 2.52%
DSU C 2.51%
WES D 2.51%
FDUS C 2.51%
EPD D 2.48%
PAA F 2.47%
MPLX A 2.46%
EPR D 2.45%
CQP C 2.38%
BSM D 2.38%
USAC D 2.3%
PK D 2.29%
NMFC F 2.27%
NHS D 2.06%
HIPS Underweight 150 Positions Relative to ERNZ
Symbol Grade Weight
CLM A -3.15%
ABR B -3.07%
GOF A -3.02%
INSW F -2.92%
DHT F -2.89%
NAT F -2.84%
HTGC B -2.6%
PSEC C -2.53%
CRF A -2.31%
TSLX C -2.11%
ECC D -1.92%
NEP F -1.89%
RC F -1.87%
XMHQ C -1.84%
OXLC A -1.78%
DX B -1.53%
PDI C -1.51%
QYLD A -1.43%
AGNC D -1.26%
BCC C -1.21%
DKS D -1.15%
CWH C -1.13%
FRO F -1.01%
DAC C -1.01%
USFR A -0.8%
GFF F -0.69%
CCOI B -0.69%
KR B -0.66%
ABBV D -0.65%
STNG F -0.59%
TFLO A -0.59%
GILD A -0.57%
CNA D -0.56%
WSO C -0.55%
SBR D -0.54%
PMT C -0.53%
GBIL A -0.52%
SHV A -0.51%
BKLN A -0.51%
KREF D -0.5%
LVHI A -0.49%
ARES A -0.48%
GNK F -0.47%
BIL A -0.42%
PULS A -0.42%
UNIT C -0.41%
RA A -0.41%
ARCH C -0.4%
BTI D -0.4%
SCHO C -0.39%
BXMT C -0.38%
BIZD B -0.38%
BGS D -0.38%
SRLN A -0.36%
NEM C -0.35%
FLBL A -0.34%
CWEN D -0.34%
COKE D -0.34%
NEAR A -0.33%
DDS C -0.33%
APAM C -0.31%
GIS D -0.31%
SAH C -0.3%
ALB C -0.29%
CTRA D -0.29%
PAG F -0.29%
ETD F -0.29%
AMRK D -0.29%
ICSH A -0.28%
FLTR A -0.28%
TSCO C -0.27%
WINA B -0.27%
BAH A -0.27%
DVN F -0.27%
VRIG A -0.27%
MINT A -0.27%
OVV F -0.26%
BRSP F -0.26%
COST D -0.26%
CVI F -0.25%
GOGL F -0.25%
VNLA A -0.25%
TRGP B -0.25%
GFI C -0.24%
MPW D -0.24%
FTSL A -0.23%
FLRN A -0.23%
CAH C -0.22%
FANG F -0.22%
PBI B -0.21%
JCPB D -0.21%
DEA B -0.2%
LYTS B -0.2%
CLX D -0.19%
JMST A -0.19%
FTSM A -0.19%
HYGV A -0.19%
MUR F -0.18%
SQM C -0.18%
USDU A -0.18%
MO D -0.18%
ACP A -0.18%
SHY C -0.18%
ASC F -0.17%
PCAR C -0.17%
IPAR D -0.17%
IIPR A -0.16%
HSY F -0.16%
RYLD A -0.16%
XYLD A -0.15%
KMB D -0.15%
ZROZ F -0.15%
VIRT C -0.14%
FHI A -0.14%
PFE D -0.14%
EDV F -0.14%
FLOT A -0.14%
PNNT C -0.14%
VGLT F -0.14%
JPST A -0.14%
GOVT D -0.14%
HLI B -0.14%
KOF F -0.13%
OLN F -0.13%
UTG B -0.13%
CPB D -0.13%
CIVI F -0.13%
PTEN F -0.12%
LGOV D -0.12%
MAIN B -0.12%
UVV F -0.12%
CL D -0.12%
NGG D -0.12%
PEP F -0.11%
K A -0.11%
PG D -0.11%
AGZ C -0.11%
WMK F -0.11%
AGZD A -0.11%
LADR D -0.11%
SJNK A -0.11%
HRB D -0.1%
JMBS D -0.09%
MPC F -0.09%
RDY D -0.09%
USA B -0.08%
ARI F -0.05%
PFLT C -0.04%
IEF D -0.04%
RAVI A -0.04%
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