GDXU vs. DULL ETF Comparison

Comparison of MicroSectors Gold Miners 3X Leveraged ETNs (GDXU) to Bank Of Montreal MicroSectors Gold -3X Inverse Leveraged ETNs due January 29, 2043 (DULL)

GDXU

MicroSectors Gold Miners 3X Leveraged ETNs

GDXU Description

The investment seeks the return on the notes is linked to a three times leveraged participation in the daily performance of the S-Network MicroSectorsTM Gold Miners Index.The index is a total return index that tracks the performance of two exchange traded funds, the VanEck Vectors® Gold Miners ETF (the ?GDX?) and the VanEck Vectors® Junior Gold Miners ETF (the ?GDXJ?).

Grade (RS Rating)

Last Trade

$46.70

Average Daily Volume

1,077,161

Number of Holdings ^*

2

* may have additional holdings in another (foreign) market

DULL

Bank Of Montreal MicroSectors Gold -3X Inverse Leveraged ETNs due January 29, 2043

DULL Description

The notes are designed to reflect a 3x leveraged inverse exposure to the inverse performance of the ETF on a daily basis. The notes are riskier than securities that have intermediate- or long-term investment objectives, and may not be suitable for investors who plan to hold them for a period other than one day or who have a "buy and hold" strategy.

Grade (RS Rating)

Last Trade

$11.27

Average Daily Volume

3,365

Number of Holdings ^*

10

* may have additional holdings in another (foreign) market

Performance

Period	GDXU	DULL
30 Days	28.12%	-5.49%
60 Days	77.36%	-28.89%
90 Days	133.62%	-42.24%
12 Months	0.69%	-44.63%

0 Overlapping Holdings

	Symbol	Grade	Weight in GDXU	Weight in DULL	Overlap

GDXU Overweight 2 Positions Relative to DULL

	Symbol	Grade	Weight
	GDX	C	75.0%
	GDXJ	C	25.0%

GDXU Underweight 10 Positions Relative to DULL

	Symbol	Grade	Weight
	WPM	C	-11.85%
	PAAS	C	-5.16%
	CDE	C	-5.05%
	HL	D	-4.81%
	AGI	C	-4.45%
	SSRM	F	-4.32%
	MAG	F	-2.88%
	SVM	D	-1.62%
	MUX	D	-1.57%
	EXK	F	-1.03%

GDXU: Top Represented Industries & Keywords

Industries:

Keywords: ETF Exchange Traded Fund Gold Mining Gold Mining Industry Stock Fund American Depositary Receipt Mining Nyse Arca Gold Miners Index Occupational Safety And Health Silver Mining Sovereign Wealth Funds Stock Market Index

DULL: Top Represented Industries & Keywords

Industries: Silver Gold Industrial Metals & Minerals

Keywords: Mining Silver Gold Gold Mining Silver Mining In The United States Base Metal Bullion Copper Mineral Products New Gold Precious And Base Metal Precious Metal Properties Precious Metal Purchase Agreements S&P/Tsx 60 Silver Mining Silvercorp Metals Smelting Ssr Mining Inc. Zinc Zinc Mining