MVRL vs. REM ETF Comparison

Comparison of ETRACS Monthly Pay 1.5X Leveraged Mortgage REIT ETN (MVRL) to iShares Mortgage Real Estate Capped ETF (REM)

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

$16.53

Average Daily Volume

9,096

Number of Holdings ^*

* may have additional holdings in another (foreign) market

REM

iShares Mortgage Real Estate Capped ETF

REM Description

The investment seeks to track the investment results of an index composed of U.S. real estate investment trusts ("REITs") that hold U.S. residential and commercial mortgages. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. The underlying index measures the performance of the residential and commercial mortgage real estate, mortgage finance and savings associations sectors of the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$22.30

Average Daily Volume

424,782

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	MVRL	REM
30 Days	-4.75%	-3.50%
60 Days	-6.75%	-5.06%
90 Days	-0.58%	-1.15%
12 Months	21.76%	15.51%

22 Overlapping Holdings

Symbol	Grade	Weight in MVRL	Weight in REM	Overlap
ABR	B	4.54%	5.09%	4.54%
ACRE	F	1.95%	0.82%	0.82%
AGNC	D	8.86%	11.31%	8.86%
ARI	F	3.76%	2.92%	2.92%
ARR	D	1.83%	2.24%	1.83%
BRSP	C	1.92%	1.61%	1.61%
BXMT	C	4.84%	4.7%	4.7%
CIM	D	5.48%	2.9%	2.9%
DX	C	1.48%	2.19%	1.48%
EFC	D	2.49%	2.43%	2.43%
IVR	F	1.84%	0.97%	0.97%
KREF	D	1.86%	1.63%	1.63%
LADR	B	3.51%	3.0%	3.0%
MFA	D	3.81%	2.92%	2.92%
NLY	D	13.03%	15.2%	13.03%
NYMT	D	3.26%	1.1%	1.1%
ORC	D	2.0%	1.31%	1.31%
PMT	D	3.79%	2.79%	2.79%
RC	F	2.05%	2.64%	2.05%
RWT	D	2.77%	2.32%	2.32%
STWD	D	8.19%	9.65%	8.19%
TWO	F	4.01%	3.15%	3.15%

MVRL Overweight 1 Positions Relative to REM

	Symbol	Grade	Weight
	HASI	B	5.04%

MVRL Underweight 11 Positions Relative to REM

Symbol	Grade	Weight
RITM	D	-8.36%
FBRT	B	-2.5%
CMTG	F	-1.29%
TRTX	A	-1.17%
REFI	D	-0.6%
SEVN	F	-0.43%
AFCG	F	-0.4%
GPMT	C	-0.37%
NREF	C	-0.28%
AOMR	F	-0.26%
SUNS	D	-0.2%