MVRL vs. RINC ETF Comparison

Comparison of ETRACS Monthly Pay 1.5X Leveraged Mortgage REIT ETN (MVRL) to AXS Real Estate Income ETF (RINC)

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

RINC

AXS Real Estate Income ETF

RINC Description

The fund uses a "passive management" approach to track the performance, before fees and expenses, of the index. Under normal circumstances, at least 80% of the fund"s net assets, plus borrowings for investment purposes, will be invested in the component securities of the index. The index consists primarily of common stocks of U.S. publicly traded real estate investment trusts that focus on owning commercial and residential mortgages and mortgage-backed securities and to a lesser extent, publicly traded closed-end funds. It is non-diversified.

Grade (RS Rating)

Last Trade

$22.88

Average Daily Volume

4,047

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	MVRL	RINC
30 Days	-4.75%	-2.42%
60 Days	-6.75%	-5.38%
90 Days	-0.58%	-2.37%
12 Months	21.76%	9.30%

13 Overlapping Holdings

Symbol	Grade	Weight in MVRL	Weight in RINC	Overlap
ABR	B	4.54%	4.83%	4.54%
AGNC	D	8.86%	3.51%	3.51%
ARI	F	3.76%	4.45%	3.76%
BRSP	C	1.92%	4.33%	1.92%
BXMT	C	4.84%	4.5%	4.5%
DX	C	1.48%	3.8%	1.48%
EFC	D	2.49%	4.26%	2.49%
KREF	D	1.86%	4.41%	1.86%
LADR	B	3.51%	4.52%	3.51%
PMT	D	3.79%	3.69%	3.69%
RC	F	2.05%	4.23%	2.05%
RWT	D	2.77%	4.38%	2.77%
STWD	D	8.19%	4.63%	4.63%

MVRL Overweight 10 Positions Relative to RINC

Symbol	Grade	Weight
NLY	D	13.03%
CIM	D	5.48%
HASI	B	5.04%
TWO	F	4.01%
MFA	D	3.81%
NYMT	D	3.26%
ORC	D	2.0%
ACRE	F	1.95%
IVR	F	1.84%
ARR	D	1.83%

MVRL Underweight 3 Positions Relative to RINC

Symbol	Grade	Weight
FBRT	B	-4.75%
TRTX	A	-4.64%
CMTG	F	-3.8%