MVRL vs. BNDC ETF Comparison

Comparison of ETRACS Monthly Pay 1.5X Leveraged Mortgage REIT ETN (MVRL) to FlexShares Core Select Bond Fund (BNDC)

MVRL

ETRACS Monthly Pay 1.5X Leveraged Mortgage REIT ETN

MVRL Description

The investment seeks to provide 1.5 times leveraged long exposure to the compounded quarterly performance of the MVIS US Mortgage REITs Index, reduced by the Accrued Fees. The index is designed to track the overall performance of publicly-traded mortgage REITs that are listed and incorporated in the United States and derive at least 50% of their revenues from mortgage-related activity.

Grade (RS Rating)

Last Trade

$16.62

Average Daily Volume

10,480

Number of Holdings ^*

23

* may have additional holdings in another (foreign) market

BNDC

FlexShares Core Select Bond Fund

BNDC Description

The investment seeks total return and preservation of capital. The fund invests at least 80% of its net assets in U.S. dollar-denominated investment-grade fixed-income securities either directly or indirectly through exchange-traded funds and other registered investment companies. The fund may invest, without limitation, in mortgage- or asset-backed securities, including to-be-announced transactions, and purchase and sell securities on a when-issued, delayed delivery or forward commitment basis.

Grade (RS Rating)

Last Trade

$21.96

Average Daily Volume

21,942

Number of Holdings ^*

9

* may have additional holdings in another (foreign) market

Performance

Period	MVRL	BNDC
30 Days	-1.98%	-0.90%
60 Days	-8.49%	-3.60%
90 Days	-3.72%	-2.67%
12 Months	14.12%	4.79%

0 Overlapping Holdings

	Symbol	Grade	Weight in MVRL	Weight in BNDC	Overlap

MVRL Overweight 23 Positions Relative to BNDC

	Symbol	Grade	Weight
	NLY	C	13.03%
	AGNC	C	8.86%
	STWD	C	8.19%
	CIM	D	5.48%
	HASI	D	5.04%
	BXMT	C	4.84%
	ABR	C	4.54%
	TWO	F	4.01%
	MFA	D	3.81%
	PMT	C	3.79%
	ARI	C	3.76%
	LADR	B	3.51%
	NYMT	C	3.26%
	RWT	D	2.77%
	EFC	C	2.49%
	RC	D	2.05%
	ORC	B	2.0%
	ACRE	B	1.95%
	BRSP	C	1.92%
	KREF	C	1.86%
	IVR	F	1.84%
	ARR	D	1.83%
	DX	B	1.48%

MVRL Underweight 9 Positions Relative to BNDC

	Symbol	Grade	Weight
	MBB	D	-24.3%
	MBSD	D	-12.49%
	IEI	D	-11.93%
	SKOR	C	-9.44%
	IEF	F	-5.68%
	RAVI	A	-4.72%
	SHY	C	-3.37%
	TDTT	C	-2.04%
	LKOR	D	-0.5%

MVRL: Top Represented Industries & Keywords

Industries: REIT - Diversified REIT - Residential REIT - Office REIT - Retail Specialty Finance

Keywords: Mortgage Backed Security Mortgage Loan Real Estate Investment Trust Structured Finance Real Estate Mortgage Investment Conduit Residential Mortgage Backed Security Commercial Mortgage Backed Security Private Equity Real Estate Finance Loan Commercial Mortgage Fannie Mae Mezzanine Capital Real Estate Investing Rmbs U.S. Government Adjustable Rate Mortgage Asset Backed Security Collateralized Debt Obligation Freddie Mac

BNDC: Top Represented Industries & Keywords

Industries:

Keywords: ETF Exchange Traded Fund Bond Bond Market U.S. Treasury Bloomberg Barclays Us Aggregate Bond Index Bond Fund Government Bonds U.S. Government Yield Collateralized Debt Obligation Corporate Bond Mortgage Backed Security Northern Trust Structured Finance Credit Rating Agencies Debt Securities Fannie Mae Federal Home Loan Mortgage Corporation Federal National Mortgage Association