XMVM vs. HDLB ETF Comparison

Comparison of Invesco S&P MidCap Value with Momentum ETF (XMVM) to ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B due September 30, 2044 (HDLB)

XMVM

Invesco S&P MidCap Value with Momentum ETF

XMVM Description

The investment seeks to track the investment results (before fees and expenses) of the S&P MidCap 400 High Momentum Value Index (the "underlying index"). The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. Strictly in accordance with its guidelines and mandated procedures, the index provider compiles, maintains and calculates the underlying index, which is designed to track the performance of approximately 80 stocks in the S&P MidCap 400® that have the highest “value” and “momentum” scores.

Grade (RS Rating)

Last Trade

$55.56

Average Daily Volume

21,027

Number of Holdings ^*

* may have additional holdings in another (foreign) market

HDLB

ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B due September 30, 2044

HDLB Description

The investment seeks to provide two times leveraged long exposure to the compounded monthly performance of the Solactive US High Dividend Low Volatility Index. The index is designed to measure the performance of 40 dividend yielding, relatively lower volatility Index Constituent Securities from the universe of the largest 1,000 U.S. listed stocks by market capitalization, as described herein. The Securities seek to approximate the monthly returns that might be available to investors through a leveraged “long” investment in the index constituent securities.

Grade (RS Rating)

Last Trade

$14.07

Average Daily Volume

2,031

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	XMVM	HDLB
30 Days	2.19%	6.47%
60 Days	1.26%	13.30%
90 Days	8.40%	22.14%
12 Months	22.48%	50.90%

1 Overlapping Holdings

	Symbol	Grade	Weight in XMVM	Weight in HDLB	Overlap
	WU	D	0.87%	0.73%	0.73%

XMVM Overweight 79 Positions Relative to HDLB

Symbol	Grade	Weight
LAD	C	2.49%
AVT	C	2.23%
ARW	C	2.0%
PBF	F	1.9%
DINO	F	1.86%
UNM	B	1.77%
TMHC	B	1.76%
CNO	A	1.75%
AN	D	1.75%
X	D	1.74%
GHC	B	1.66%
PFGC	B	1.66%
SNX	D	1.61%
CNX	A	1.59%
PAG	D	1.58%
KBH	B	1.56%
OZK	D	1.53%
ONB	C	1.53%
MTG	B	1.49%
WBS	D	1.47%
JLL	B	1.47%
R	B	1.46%
THC	B	1.45%
FNB	D	1.42%
PNFP	A	1.39%
CADE	C	1.37%
ARMK	C	1.37%
UMBF	B	1.34%
USFD	B	1.34%
TOL	B	1.34%
PPC	D	1.32%
ESNT	B	1.32%
THO	D	1.3%
ORI	B	1.29%
HWC	D	1.25%
CMC	D	1.24%
WTFC	C	1.23%
TCBI	B	1.22%
JEF	B	1.22%
ZION	D	1.21%
RGA	B	1.2%
IBOC	D	1.18%
INGR	B	1.18%
AMG	C	1.16%
ASB	D	1.15%
TEX	F	1.15%
JHG	B	1.14%
VNO	B	1.12%
EWBC	D	1.12%
STWD	B	1.11%
OVV	F	1.11%
POST	C	1.1%
MDU	B	1.09%
FNF	B	1.07%
SLM	D	1.06%
PVH	F	1.05%
CIVI	F	1.04%
OSK	D	1.04%
PK	D	1.03%
MUSA	D	0.97%
FLR	D	0.96%
ALLY	D	0.92%
MUR	F	0.92%
CHRD	F	0.88%
SAIC	C	0.87%
MTDR	F	0.86%
UFPI	C	0.86%
RS	D	0.85%
VSH	F	0.84%
TNL	D	0.83%
PR	D	0.83%
DTM	A	0.82%
SF	A	0.8%
SWX	C	0.79%
ASGN	D	0.76%
TKR	D	0.73%
ENS	D	0.69%
AMKR	F	0.65%
GAP	F	0.58%

XMVM Underweight 36 Positions Relative to HDLB

Symbol	Grade	Weight
PFE	C	-13.4%
ABBV	C	-9.8%
VZ	B	-9.25%
T	C	-8.79%
GILD	B	-5.14%
IBM	A	-5.12%
PM	C	-3.83%
DUK	B	-3.27%
MO	C	-3.18%
SO	A	-2.94%
D	B	-2.76%
AEP	C	-2.58%
O	C	-2.51%
VICI	C	-1.93%
KHC	C	-1.93%
ED	C	-1.85%
ETR	A	-1.73%
SRE	B	-1.71%
PPL	B	-1.48%
K	A	-1.47%
NLY	B	-1.43%
FE	C	-1.42%
EIX	C	-1.34%
IP	C	-1.22%
MPW	C	-1.04%
AGNC	B	-1.03%
NI	B	-0.91%
PNW	B	-0.78%
WPC	C	-0.76%
ARCC	B	-0.46%
GLPI	C	-0.44%
OGE	B	-0.43%
STAG	D	-0.4%
FSK	A	-0.25%
KD	D	-0.14%
ONL	C	-0.07%