HIPS vs. XMPT ETF Comparison

Comparison of Master Income ETF (HIPS) to Market Vectors CEF Municipal Income ETF (XMPT)

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

$13.06

Average Daily Volume

31,473

Number of Holdings ^*

* may have additional holdings in another (foreign) market

XMPT

Market Vectors CEF Municipal Income ETF

XMPT Description

The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the S-Network Municipal Bond Closed-End Fund IndexSM (the "CEFMX Index"). The fund normally invests at least 80% of its total assets in investments the income from which is exempt from U.S. federal income tax (other than AMT). It normally invests at least 80% of its total assets in securities of issuers that comprise the fund's benchmark index. The CEFMX Index is comprised of shares of U.S.-listed closed-end funds.

Grade (RS Rating)

Last Trade

$22.33

Average Daily Volume

43,087

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	HIPS	XMPT
30 Days	2.25%	-2.08%
60 Days	1.38%	-2.44%
90 Days	3.36%	0.67%
12 Months	19.42%	15.38%

0 Overlapping Holdings

	Symbol	Grade	Weight in HIPS	Weight in XMPT	Overlap

HIPS Overweight 37 Positions Relative to XMPT

Symbol	Grade	Weight
BGX	A	2.79%
LTC	B	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	C	2.6%
MPLX	A	2.6%
DMLP	A	2.6%
GTY	A	2.59%
CQP	B	2.56%
GBDC	B	2.55%
NBB	D	2.54%
KRP	B	2.53%
DSU	A	2.52%
ALX	D	2.49%
PAA	B	2.48%
SBRA	B	2.48%
WES	C	2.48%
GLPI	C	2.48%
OHI	C	2.46%
USAC	B	2.44%
BSM	B	2.44%
PK	D	2.41%
EPR	D	2.28%
NMFC	D	2.26%
GSBD	F	2.2%
NNN	C	2.18%
NHS	D	2.02%
GNL	D	1.83%

HIPS Underweight 55 Positions Relative to XMPT

Symbol	Grade	Weight
NAD	C	-8.07%
NVG	D	-8.01%
NEA	C	-7.99%
NZF	C	-7.72%
BTT	C	-5.08%
NUV	D	-4.65%
NMZ	D	-2.7%
MYI	D	-2.39%
MUI	A	-2.34%
MQY	D	-2.25%
VMO	D	-2.15%
MHD	D	-2.04%
EIM	D	-1.91%
MMU	C	-1.85%
VKQ	C	-1.8%
VGM	C	-1.79%
IQI	D	-1.7%
BLE	D	-1.68%
MYD	D	-1.64%
IIM	D	-1.51%
MVF	D	-1.46%
BFK	D	-1.45%
LEO	D	-1.4%
NDMO	D	-1.39%
NXP	C	-1.32%
VKI	C	-1.3%
PML	D	-1.23%
AFB	D	-1.17%
PMO	D	-1.06%
DSM	D	-1.06%
EVN	D	-1.05%
NBH	D	-1.02%
KTF	A	-0.99%
BYM	D	-0.95%
PMM	D	-0.91%
MUA	C	-0.88%
EOT	D	-0.85%
MFM	D	-0.82%
MUE	C	-0.82%
MVT	D	-0.82%
NUW	C	-0.8%
MQT	D	-0.75%
DMB	D	-0.71%
MHI	C	-0.68%
MAV	C	-0.65%
PMX	D	-0.58%
OIA	D	-0.58%
PMF	D	-0.55%
BKN	D	-0.54%
VFL	D	-0.47%
DMF	C	-0.39%
BMN	A	-0.39%
ETX	D	-0.38%
MHF	C	-0.34%
BTA	D	-0.31%

XMPT: Top Represented Industries & Keywords

Industries: Asset Management