PFFL vs. OCIO ETF Comparison

Comparison of ETRACS 2xMonthly Pay Leveraged Preferred Stock Index ETN due September 25, 2048 (PFFL) to ClearShares OCIO ETF (OCIO)

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

$9.21

Average Daily Volume

5,122

Number of Holdings ^*

2

* may have additional holdings in another (foreign) market

OCIO

ClearShares OCIO ETF

OCIO Description

The investment seeks to outperform a traditional 60/40 mix of global equity and fixed-income investments. The fund is expected to typically invest approximately 40% to 70% of its total assets in underlying funds that principally invest in equity securities of any market capitalization. It is expected to typically invest approximately 20% to 50% of its total assets in underlying funds that principally invest in debt obligations.

Grade (RS Rating)

Last Trade

$30.82

Average Daily Volume

882

Number of Holdings ^*

13

* may have additional holdings in another (foreign) market

Performance

Period	PFFL	OCIO
30 Days	-9.98%	-3.39%
60 Days	-6.39%	-1.23%
90 Days	-4.26%	0.19%
12 Months	-1.04%	7.51%

0 Overlapping Holdings

	Symbol	Grade	Weight in PFFL	Weight in OCIO	Overlap

PFFL Overweight 2 Positions Relative to OCIO

	Symbol	Grade	Weight
	PFF	C	50.23%
	PGX	C	49.77%

PFFL Underweight 13 Positions Relative to OCIO

	Symbol	Grade	Weight
	QQQ	C	-5.64%
	IEI	D	-4.66%
	OPER	A	-4.39%
	FLOT	A	-3.44%
	SCHF	C	-3.29%
	GVI	C	-3.28%
	SCHK	B	-2.94%
	SHY	C	-2.78%
	BIL	A	-2.56%
	IEF	F	-1.87%
	VGIT	F	-1.4%
	IXUS	B	-1.02%
	SCHP	D	-0.82%

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

OCIO: Top Represented Industries & Keywords

Industries:

Keywords: ETF Exchange Traded Fund U.S. Treasury Bond Bloomberg Barclays Us Aggregate Bond Index Bond Market U.S. Government Stock Market Index Bond Market Indices Exchange Traded Funds Government Bonds Fixed Income Index Fund Merrill Lynch Yield Barclays Bear Market ETF Betashares Bond Fund Corporate Bond