AIRL vs. DULL ETF Comparison

Comparison of Themes Airlines ETF (AIRL) to Bank Of Montreal MicroSectors Gold -3X Inverse Leveraged ETNs due January 29, 2043 (DULL)

AIRL

Themes Airlines ETF

AIRL Description

The index is a free float adjusted, market capitalization weighted index that is designed to provide exposure to companies that have business operations in the airlines industry. The fund will invest, under normal circumstances, at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities that comprise the index and in American Depositary Receipts ("ADRs") and Global Depositary Receipts ("GDRs") based on the securities in the index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$27.46

Average Daily Volume

226

Number of Holdings ^*

13

* 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

$7.64

Average Daily Volume

23,239

Number of Holdings ^*

1

* may have additional holdings in another (foreign) market

Performance

Period	AIRL	DULL
30 Days	4.56%	-9.03%
60 Days	13.52%	-24.06%
90 Days	22.65%	-29.91%
12 Months		-62.25%

0 Overlapping Holdings

	Symbol	Grade	Weight in AIRL	Weight in DULL	Overlap

AIRL Overweight 13 Positions Relative to DULL

	Symbol	Grade	Weight
	UAL	A	6.67%
	ALK	A	5.18%
	AAL	A	5.07%
	DAL	A	4.87%
	SKYW	A	4.71%
	LUV	A	4.62%
	CPA	B	4.3%
	JBLU	D	3.89%
	ALGT	A	1.82%
	ATSG	A	1.61%
	SNCY	A	0.82%
	ULCC	B	0.68%
	SAVE	D	0.53%

AIRL Underweight 1 Positions Relative to DULL

	Symbol	Grade	Weight
	GLD	A	-100.0%

AIRL: Top Represented Industries & Keywords

Industries: Airlines Airports & Air Services

Keywords: Aviation Airline Air Transportation Air Transportation Services Opentravel Alliance Airport Low Cost Carriers S&P 500 Airbus A320 Family Cargo Services Hawaii Overhaul Services Passenger Airline Star Alliance Air Transport Services Group Aircraft Lease Aircraft Management Airlift Services Airline Industry Airline Passenger

DULL: Top Represented Industries & Keywords

Industries:

Keywords: Bullion ETF Equity Exchange Traded Fund Gold Precious Metals