HIPS vs. SRET ETF Comparison

Comparison of Master Income ETF (HIPS) to Global X SuperDividend REIT ETF (SRET)

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

$13.16

Average Daily Volume

31,726

Number of Holdings ^*

* may have additional holdings in another (foreign) market

SRET

Global X SuperDividend REIT ETF

SRET Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Global SuperDividend® REIT Index. The fund invests at least 80% of its total assets in the securities of the underlying index and in American Depositary Receipts ("ADRs") and Global Depositary Receipts ("GDRs") based on the securities in the underlying index. The underlying index tracks the performance of REITs that rank among the highest yielding REITs globally, as determined by Solactive AG, the provider of the underlying index ("Index Provider"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$21.19

Average Daily Volume

31,900

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	HIPS	SRET
30 Days	3.55%	-1.23%
60 Days	1.87%	-4.64%
90 Days	3.35%	-0.61%
12 Months	20.42%	14.32%

7 Overlapping Holdings

Symbol	Grade	Weight in HIPS	Weight in SRET	Overlap
EPR	D	2.28%	3.39%	2.28%
GLPI	C	2.48%	3.52%	2.48%
GNL	F	1.83%	2.11%	1.83%
GTY	B	2.59%	3.8%	2.59%
LTC	B	2.79%	4.0%	2.79%
OHI	C	2.46%	4.67%	2.46%
SBRA	C	2.48%	4.38%	2.48%

HIPS Overweight 30 Positions Relative to SRET

Symbol	Grade	Weight
BGX	A	2.79%
JQC	A	2.78%
JFR	A	2.75%
ARCC	A	2.72%
ET	A	2.68%
SLRC	A	2.66%
FSK	A	2.65%
EFT	A	2.64%
EPD	A	2.64%
FCT	A	2.63%
FDUS	A	2.62%
BXSL	A	2.62%
BLW	B	2.6%
MPLX	A	2.6%
DMLP	A	2.6%
CQP	B	2.56%
GBDC	C	2.55%
NBB	D	2.54%
KRP	B	2.53%
DSU	B	2.52%
ALX	D	2.49%
PAA	B	2.48%
WES	C	2.48%
USAC	B	2.44%
BSM	B	2.44%
PK	B	2.41%
NMFC	D	2.26%
GSBD	F	2.2%
NNN	D	2.18%
NHS	D	2.02%

HIPS Underweight 9 Positions Relative to SRET

Symbol	Grade	Weight
NHI	D	-4.76%
LADR	B	-3.56%
EFC	C	-3.44%
STWD	C	-3.39%
BNL	D	-3.39%
DX	B	-3.37%
WPC	D	-2.92%
AGNC	D	-2.84%
RC	D	-2.72%