RINC vs. MVRL ETF Comparison

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

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

$22.75

Average Daily Volume

5,286

Number of Holdings ^*

* may have additional holdings in another (foreign) market

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

$16.96

Average Daily Volume

9,402

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	RINC	MVRL
30 Days	5.38%	5.00%
60 Days	1.44%	1.22%
90 Days	-2.83%	-3.05%
12 Months		0.47%

8 Overlapping Holdings

Symbol	Grade	Weight in RINC	Weight in MVRL	Overlap
ABR	B	5.04%	4.54%	4.54%
ARR	C	4.47%	1.83%	1.83%
EFC	B	4.61%	2.49%	2.49%
KREF	F	4.46%	1.86%	1.86%
LADR	A	4.83%	3.51%	3.51%
RWT	B	4.62%	2.77%	2.77%
STWD	C	4.53%	8.19%	4.53%
TWO	B	4.38%	4.01%	4.01%

RINC Overweight 2 Positions Relative to MVRL

	Symbol	Grade	Weight
	FBRT	B	4.6%
	RITM	D	4.46%

RINC Underweight 15 Positions Relative to MVRL

Symbol	Grade	Weight
NLY	B	-13.03%
AGNC	B	-8.86%
CIM	C	-5.48%
HASI	C	-5.04%
BXMT	C	-4.84%
MFA	B	-3.81%
PMT	D	-3.79%
ARI	D	-3.76%
NYMT	F	-3.26%
RC	D	-2.05%
ORC	B	-2.0%
ACRE	C	-1.95%
BRSP	D	-1.92%
IVR	B	-1.84%
DX	C	-1.48%