IVOL vs. PFFL ETF Comparison

Comparison of Quadratic Interest Rate Volatility and Inflation Hedge ETF (IVOL) to ETRACS 2xMonthly Pay Leveraged Preferred Stock Index ETN due September 25, 2048 (PFFL)

IVOL

Quadratic Interest Rate Volatility and Inflation Hedge ETF

IVOL Description

The investment seeks to hedge the risk of increased fixed income volatility and rising inflation and to profit from rising long-term interest rates or falling short-term interest rates, often referred to as a steepening of the U.S. interest rate curve, while providing inflation-protected income. The fund is actively managed and seeks to achieve its investment objective primarily by investing, directly or indirectly, in a mix of U.S. Treasury Inflation-Protected Securities ("TIPS") and long options tied to the shape of the U.S. interest rate curve. It is non-diversified.

Grade (RS Rating)

Last Trade

$18.51

Average Daily Volume

232,291

Number of Holdings ^*

* may have additional holdings in another (foreign) market

PFFL

ETRACS 2xMonthly Pay Leveraged Preferred Stock Index ETN due September 25, 2048

PFFL Description

The investment seeks to provide two times leveraged long exposure to the compounded monthly performance of the Solactive Preferred Stock ETF Index (the “index”). The index is designed to track the price movements of an equally weighted portfolio of two exchange-traded funds (“ETFs”) that hold preferred securities of various issuers. The Securities are two times leveraged with respect to the index and, as a result, will benefit from two times any beneficial, but will be exposed to two times any adverse, compounded monthly performance of the index.

Grade (RS Rating)

Last Trade

$9.59

Average Daily Volume

3,415

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	IVOL	PFFL
30 Days	1.18%	2.79%
60 Days	0.57%	1.01%
90 Days	-1.64%	-4.23%
12 Months	-6.86%	9.77%

0 Overlapping Holdings

	Symbol	Grade	Weight in IVOL	Weight in PFFL	Overlap

IVOL Overweight 1 Positions Relative to PFFL

	Symbol	Grade	Weight
	SCHP	A	80.96%

IVOL Underweight 2 Positions Relative to PFFL

	Symbol	Grade	Weight
	PFF	A	-50.23%
	PGX	B	-49.77%

IVOL: Top Represented Industries & Keywords

Industries:

Keywords: Bond Bond Market Indices ETF Exchange Traded Fund Fixed Income Fixed Income Analysis Inflation Merrill Lynch U.S. Treasury Yield

PFFL: Top Represented Industries & Keywords

Industries:

Keywords: ETF Exchange Traded Fund Bond Market Indices Credit Rating Agency Currency Exchange Traded Funds Invesco Powershares Merrill Lynch Nasdaq 100 New York Stock Exchange Nyse Euronext S&P 500 Index CBOE Stock Market Index