VCSH vs. SMHB ETF Comparison

Comparison of Vanguard Short-Term Corporate Bond ETF (VCSH) to ETRACS Monthly Pay 2x Leveraged Small Cap High Dividend ETN Series B (SMHB)

VCSH

Vanguard Short-Term Corporate Bond ETF

VCSH Description

The investment seeks to track the performance of a market-weighted corporate bond index with a short-term dollar-weighted average maturity. The fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 1-5 Year Corporate Bond Index. This index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities between 1 and 5 years. At least 80% of the fund's assets will be invested in bonds included in the index.

Grade (RS Rating)

Last Trade

$77.13

Average Daily Volume

3,268,647

Number of Holdings ^*

444

* may have additional holdings in another (foreign) market

SMHB

ETRACS Monthly Pay 2x Leveraged Small Cap High Dividend ETN Series B

SMHB Description

The investment seeks to provide a two times leveraged return linked to the compounded monthly performance of the Solactive US Small Cap High Dividend Index (the “index”). The index is designed to measure the performance of 100 relatively small capitalization, dividend yielding index constituent securities selected from a universe of qualifying U.S. listed equity securities. 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

$5.98

Average Daily Volume

40,834

Number of Holdings ^*

91

* may have additional holdings in another (foreign) market

Performance

Period	VCSH	SMHB
30 Days	0.88%	-0.58%
60 Days	0.63%	-6.82%
90 Days	0.82%	2.90%
12 Months	4.94%	53.66%

13 Overlapping Holdings

	Symbol	Grade	Weight in VCSH	Weight in SMHB	Overlap
	BCSF	C	0.01%	0.24%	0.01%
	BDN	C	0.01%	2.41%	0.01%
	EPR	D	0.01%	2.34%	0.01%
	GBDC	C	0.02%	0.73%	0.02%
	GSBD	C	0.02%	0.94%	0.02%
	MAIN	C	0.01%	1.09%	0.01%
	OCSL	D	0.02%	0.54%	0.02%
	OPI	D	0.01%	0.4%	0.01%
	PDM	C	0.01%	0.99%	0.01%
	PSEC	B	0.01%	1.47%	0.01%
	SBRA	B	0.02%	2.38%	0.02%
	SLG	C	0.01%	4.87%	0.01%
	TSLX	A	0.02%	0.62%	0.02%

VCSH Overweight 431 Positions Relative to SMHB

	Symbol	Grade	Weight
	V	C	0.13%
	TAP	F	0.1%
	CARR	B	0.09%
	MDT	C	0.08%
	BIIB	D	0.08%
	DD	A	0.08%
	STLA	D	0.07%
	OTIS	C	0.07%
	ETN	B	0.07%
	CHTR	D	0.07%
	KO	B	0.06%
	COST	A	0.06%
	KLAC	A	0.06%
	OMC	C	0.06%
	WBA	F	0.06%
	AIG	B	0.06%
	HCA	C	0.06%
	VZ	D	0.06%
	VRSK	B	0.05%
	ADP	C	0.05%
	ADM	F	0.05%
	CRM	D	0.05%
	DLTR	F	0.05%
	BLK	C	0.05%
	NI	C	0.05%
	HPQ	A	0.05%
	TGT	D	0.05%
	LMT	B	0.05%
	NOC	D	0.05%
	ORCL	B	0.05%
	NTRS	D	0.04%
	ITW	F	0.04%
	FTV	F	0.04%
	VFC	F	0.04%
	TJX	B	0.04%
	WLK	A	0.04%
	RF	D	0.04%
	WB	D	0.04%
	MA	D	0.04%
	ARCC	A	0.04%
	ZTS	C	0.04%
	FOXA	B	0.04%
	RPRX	F	0.04%
	QCOM	B	0.04%
	GSK	B	0.04%
	MRK	C	0.04%
	AZN	B	0.04%
	GOOGL	A	0.04%
	GILD	F	0.04%
	AMZN	C	0.04%
	TMUS	A	0.04%
	MSFT	A	0.04%
	JNPR	D	0.03%
	JBHT	F	0.03%
	DLR	B	0.03%
	MSI	B	0.03%
	EMN	A	0.03%
	AMAT	A	0.03%
	FDX	F	0.03%
	EL	F	0.03%
	WAB	A	0.03%
	SWKS	F	0.03%
	APTV	C	0.03%
	CME	D	0.03%
	AGR	C	0.03%
	HRL	C	0.03%
	JD	C	0.03%
	HAS	B	0.03%
	MHK	C	0.03%
	NUE	F	0.03%
	DXC	F	0.03%
	WAL	C	0.03%
	ATO	F	0.03%
	BAX	F	0.03%
	CNO	B	0.03%
	SPGI	C	0.03%
	SNX	A	0.03%
	PVH	D	0.03%
	PHM	C	0.03%
	GIS	D	0.03%
	BXP	D	0.03%
	ADBE	F	0.03%
	GLPI	D	0.03%
	JEF	B	0.03%
	HAL	F	0.03%
	BG	B	0.03%
	SYY	F	0.03%
	SWK	F	0.03%
	SYF	C	0.03%
	PRU	B	0.03%
	MOS	D	0.03%
	MU	A	0.03%
	EBAY	B	0.03%
	PYPL	D	0.03%
	PFE	D	0.03%
	STT	C	0.03%
	VLO	D	0.03%
	WMB	B	0.03%
	GPN	F	0.03%
	DIS	D	0.03%
	EPD	C	0.03%
	MPLX	D	0.03%
	FIS	C	0.03%
	BERY	C	0.03%
	CB	C	0.03%
	AER	A	0.03%
	MPC	D	0.03%
	AXP	B	0.03%
	VTRS	F	0.03%
	INTC	F	0.03%
	FITB	C	0.03%
	HPE	B	0.03%
	CMCSA	F	0.03%
	MS	B	0.03%
	AAPL	B	0.03%
	WPC	D	0.02%
	SKT	D	0.02%
	RL	C	0.02%
	THG	C	0.02%
	UNM	B	0.02%
	VNT	D	0.02%
	STLD	D	0.02%
	CF	D	0.02%
	BKU	C	0.02%
	CDNS	C	0.02%
	A	C	0.02%
	BEN	F	0.02%
	CPT	C	0.02%
	BC	F	0.02%
	ALLE	D	0.02%
	AIZ	D	0.02%
	HST	D	0.02%
	HP	F	0.02%
	HOG	D	0.02%
	INTU	C	0.02%
	L	D	0.02%
	JCI	B	0.02%
	GXO	F	0.02%
	KMPR	C	0.02%
	EQH	B	0.02%
	FTNT	F	0.02%
	FRT	D	0.02%
	EA	B	0.02%
	NNN	C	0.02%
	SF	C	0.02%
	PSA	D	0.02%
	VNO	F	0.02%
	WM	D	0.02%
	BKH	C	0.02%
	APH	B	0.02%
	DOV	B	0.02%
	COKE	B	0.02%
	ALB	D	0.02%
	BWA	C	0.02%
	BABA	C	0.02%
	AWH	F	0.02%
	AFG	C	0.02%
	BRO	B	0.02%
	BR	C	0.02%
	CTVA	C	0.02%
	KEYS	F	0.02%
	HRB	C	0.02%
	IP	B	0.02%
	ILMN	F	0.02%
	GWW	D	0.02%
	LNT	C	0.02%
	LLY	A	0.02%
	LAZ	B	0.02%
	MRVL	B	0.02%
	CSX	D	0.02%
	K	C	0.02%
	KR	D	0.02%
	LRCX	B	0.02%
	ORI	B	0.02%
	DVN	D	0.02%
	LYB	D	0.02%
	PH	D	0.02%
	TDY	F	0.02%
	TT	B	0.02%
	VOYA	A	0.02%
	EQR	C	0.02%
	LIN	D	0.02%
	OHI	B	0.02%
	LHX	B	0.02%
	LDOS	B	0.02%
	MCO	B	0.02%
	NTAP	A	0.02%
	IVZ	C	0.02%
	HUM	D	0.02%
	DOC	C	0.02%
	WEC	D	0.02%
	VTR	C	0.02%
	BRX	D	0.02%
	AES	B	0.02%
	CE	D	0.02%
	AN	B	0.02%
	CNA	B	0.02%
	CMI	D	0.02%
	EOG	D	0.02%
	NKE	F	0.02%
	DGX	C	0.02%
	FANG	D	0.02%
	FLEX	A	0.02%
	EXPE	F	0.02%
	ADI	B	0.02%
	DHR	B	0.02%
	EFX	C	0.02%
	ROST	C	0.02%
	OKE	B	0.02%
	NXPI	A	0.02%
	MTB	C	0.02%
	KDP	B	0.02%
	BKNG	B	0.02%
	ABT	F	0.02%
	ICE	C	0.02%
	FSK	A	0.02%
	GD	A	0.02%
	CAH	F	0.02%
	CPB	C	0.02%
	UPS	F	0.02%
	WRK	A	0.02%
	PM	A	0.02%
	MKC	D	0.02%
	NVDA	A	0.02%
	STZ	F	0.02%
	SBUX	D	0.02%
	SPG	C	0.02%
	ET	C	0.02%
	EQIX	C	0.02%
	AL	D	0.02%
	CM	C	0.02%
	CCI	D	0.02%
	MET	C	0.02%
	SLB	F	0.02%
	SHW	D	0.02%
	ZBH	F	0.02%
	PNC	C	0.02%
	KMI	B	0.02%
	CSCO	F	0.02%
	AFL	A	0.02%
	LVS	F	0.02%
	BDX	F	0.02%
	CAT	D	0.02%
	JNJ	F	0.02%
	USB	D	0.02%
	RTX	A	0.02%
	RY	B	0.02%
	PEP	C	0.02%
	CVX	B	0.02%
	GM	C	0.02%
	TD	F	0.02%
	BMY	F	0.02%
	WMT	A	0.02%
	ABBV	F	0.02%
	IBM	D	0.02%
	CVS	F	0.02%
	XOM	D	0.02%
	C	B	0.02%
	NVT	B	0.01%
	HIW	C	0.01%
	FE	C	0.01%
	FNB	C	0.01%
	CACC	F	0.01%
	VLY	F	0.01%
	RPM	C	0.01%
	IPG	D	0.01%
	JBL	D	0.01%
	KSS	B	0.01%
	G	C	0.01%
	AMD	C	0.01%
	NEU	F	0.01%
	ED	C	0.01%
	NEM	C	0.01%
	UHS	C	0.01%
	UDR	C	0.01%
	VMC	D	0.01%
	WY	F	0.01%
	TKR	C	0.01%
	FAF	F	0.01%
	HUBB	D	0.01%
	LEG	F	0.01%
	CHD	C	0.01%
	FMC	C	0.01%
	JHG	B	0.01%
	HES	D	0.01%
	IFF	C	0.01%
	NYCB	D	0.01%
	DAL	C	0.01%
	WHR	F	0.01%
	RNR	B	0.01%
	SNV	B	0.01%
	RS	D	0.01%
	PFG	C	0.01%
	TME	C	0.01%
	RGA	B	0.01%
	SITC	B	0.01%
	TEL	A	0.01%
	TRMB	D	0.01%
	CL	B	0.01%
	BHP	C	0.01%
	CSL	B	0.01%
	FLS	B	0.01%
	CLX	F	0.01%
	AVB	B	0.01%
	GP	F	0.01%
	H	D	0.01%
	KMB	C	0.01%
	ES	D	0.01%
	OGS	F	0.01%
	MLM	D	0.01%
	LNC	B	0.01%
	PNW	C	0.01%
	ROK	F	0.01%
	SCCO	C	0.01%
	TXT	D	0.01%
	ADSK	F	0.01%
	CMS	B	0.01%
	FHN	B	0.01%
	CUBE	C	0.01%
	MAA	C	0.01%
	LII	B	0.01%
	OC	B	0.01%
	EMR	B	0.01%
	KIM	D	0.01%
	HSY	C	0.01%
	HII	D	0.01%
	KRC	F	0.01%
	MAR	D	0.01%
	NFG	B	0.01%
	ORLY	F	0.01%
	LEN	C	0.01%
	NSC	F	0.01%
	APD	B	0.01%
	CP	F	0.01%
	CNP	B	0.01%
	NDAQ	C	0.01%
	DHI	D	0.01%
	UNP	F	0.01%
	AVT	A	0.01%
	PCAR	D	0.01%
	AMG	D	0.01%
	XEL	D	0.01%
	AEE	D	0.01%
	ARW	C	0.01%
	AZO	D	0.01%
	AWK	C	0.01%
	PPG	F	0.01%
	SRE	B	0.01%
	PKG	C	0.01%
	MCK	B	0.01%
	DE	F	0.01%
	DUK	B	0.01%
	DOW	B	0.01%
	UAL	C	0.01%
	WU	D	0.01%
	ROP	C	0.01%
	PPL	B	0.01%
	MMM	C	0.01%
	LH	F	0.01%
	MDLZ	D	0.01%
	ESS	C	0.01%
	EVRG	C	0.01%
	ALL	D	0.01%
	AEP	C	0.01%
	AMP	A	0.01%
	SYK	D	0.01%
	R	C	0.01%
	TXN	B	0.01%
	PXD	B	0.01%
	PSX	D	0.01%
	PEG	A	0.01%
	DFS	D	0.01%
	DTE	B	0.01%
	O	D	0.01%
	MCHP	A	0.01%
	KEY	C	0.01%
	CMA	C	0.01%
	BSX	A	0.01%
	ARE	C	0.01%
	AON	F	0.01%
	HON	B	0.01%
	HBAN	B	0.01%
	CFG	C	0.01%
	BIDU	D	0.01%
	AMT	C	0.01%
	EIX	B	0.01%
	MMC	B	0.01%
	PAA	D	0.01%
	ETR	C	0.01%
	AMGN	C	0.01%
	TSN	C	0.01%
	D	B	0.01%
	ALLY	C	0.01%
	BK	B	0.01%
	RSG	D	0.01%
	HD	F	0.01%
	TMO	C	0.01%
	PG	B	0.01%
	DG	D	0.01%
	MO	B	0.01%
	NEE	A	0.01%
	LOW	F	0.01%
	CAG	C	0.01%
	SCHW	C	0.01%
	EXC	D	0.01%
	MCD	F	0.01%
	BNS	D	0.01%
	COP	D	0.01%
	SO	B	0.01%
	COF	D	0.01%
	VOD	B	0.01%
	LUV	F	0.01%
	GE	A	0.01%
	WELL	A	0.01%
	UNH	C	0.01%
	TFC	C	0.01%
	DB	B	0.01%
	AVGO	B	0.01%
	BMO	A	0.01%
	T	B	0.01%
	PCG	B	0.01%
	HSBC	B	0.01%
	NWG	B	0.01%
	CI	D	0.01%
	MUFG	C	0.01%
	WFC	C	0.01%
	GS	B	0.01%
	JPM	B	0.01%
	DELL	B	0.01%
	BA	D	0.01%
	BAC	A	0.01%

VCSH Underweight 78 Positions Relative to SMHB

	Symbol	Grade	Weight
	XRX	F	-4.09%
	DTM	A	-3.81%
	BXMT	F	-3.43%
	DSS	D	-2.87%
	TWO	C	-2.87%
	CIM	F	-2.62%
	ETRN	A	-2.49%
	BGS	D	-2.41%
	ABR	C	-2.21%
	APAM	B	-2.02%
	PAGP	C	-1.88%
	UNIT	F	-1.86%
	UWMC	B	-1.84%
	ARR	C	-1.65%
	NHI	B	-1.64%
	ORC	C	-1.51%
	CCOI	D	-1.51%
	IVR	C	-1.43%
	DEA	D	-1.35%
	PMT	C	-1.35%
	MFA	D	-1.27%
	RWT	D	-1.24%
	CTRE	B	-1.16%
	PETS	F	-1.13%
	HTGC	A	-1.03%
	ARI	F	-1.02%
	GNL	D	-1.01%
	FCPT	C	-1.0%
	EFC	C	-1.0%
	NEWT	C	-0.94%
	NYMT	F	-0.93%
	LTC	B	-0.91%
	DX	B	-0.89%
	KREF	F	-0.8%
	VGR	C	-0.79%
	NWBI	C	-0.77%
	CODI	D	-0.72%
	VNOM	C	-0.65%
	SCS	C	-0.65%
	RC	F	-0.65%
	ACRE	F	-0.64%
	LADR	C	-0.62%
	HESM	A	-0.59%
	UVV	D	-0.54%
	AROC	C	-0.53%
	GMRE	B	-0.5%
	ILPT	D	-0.49%
	BRSP	F	-0.49%
	WSR	A	-0.46%
	ALX	C	-0.45%
	GTY	D	-0.44%
	RMR	D	-0.38%
	NMFC	B	-0.38%
	UHT	D	-0.36%
	GPMT	F	-0.34%
	CSWC	C	-0.34%
	GOOD	C	-0.33%
	FSP	F	-0.29%
	TRTX	C	-0.29%
	TCPC	B	-0.27%
	AHH	C	-0.27%
	CGBD	B	-0.25%
	TPVG	C	-0.23%
	PFLT	C	-0.23%
	SLRC	A	-0.23%
	UVE	C	-0.22%
	BBDC	A	-0.22%
	KRO	A	-0.2%
	EBF	B	-0.18%
	GAIN	C	-0.17%
	PNNT	A	-0.16%
	OLP	C	-0.16%
	FDUS	B	-0.16%
	GLAD	A	-0.15%
	BFS	D	-0.14%
	TRIN	B	-0.12%
	CCAP	A	-0.1%
	REPX	D	-0.07%

VCSH: Top Represented Industries & Keywords

Industries: Utilities - Regulated Electric Asset Management Banks - Regional - US Banks - Global Credit Services Diversified Industrials Drug Manufacturers - Major Semiconductors REIT - Office REIT - Retail Specialty Chemicals Business Services Utilities - Diversified Aerospace & Defense Capital Markets Diagnostics & Research Insurance - Life Oil & Gas E&P Oil & Gas Midstream Household & Personal Products

Keywords: S&P 500 Nasdaq 100 Natural Gas Bank Insurance Banking Electricity Real Estate Investment Trust Dow Jones Component Investment Bank Electronics Cash Management Computing Insurance Products Chemical Financial Products Aerospace Commercial Banking Semiconductor Disability

SMHB: Top Represented Industries & Keywords

Industries: Asset Management REIT - Diversified REIT - Office REIT - Healthcare Facilities REIT - Retail Oil & Gas Midstream REIT - Residential Credit Services Business Equipment REIT - Industrial Specialty Finance Tobacco Business Services Conglomerates Information Technology Services Insurance - Property & Casualty Oil & Gas E&P Oil & Gas Equipment & Services Packaged Foods Pharmaceutical Retailers

Keywords: Real Estate Investment Trust Private Equity Mortgage Loan Structured Finance Business Development Mortgage Backed Security Loan Mezzanine Capital Debt Real Estate Properties Residential Mortgage Backed Security Senior Debt Venture Capital Credit Real Estate Finance Real Estate Mortgage Investment Conduit Refinancing Subordinated Debt Banking Business Development Company