CARD vs. DIVP ETF Comparison

Comparison of Bank Of Montreal MAX Auto Industry -3x Inverse Leveraged ETN (CARD) to Cullen Enhanced Equity Income ETF (DIVP)
CARD

Bank Of Montreal MAX Auto Industry -3x Inverse Leveraged ETN

CARD Description

CARD makes a big and bearish one-day bet against the US auto industry. The fund provides 3x daily inverse exposure to a modified liquidity-weighted index that includes firms engaged in automobile manufacturing, automobile parts and retail, and car dealing. The index defines the industries based on the North American Industry Classification System (NAICS) and selects US-listed equities, excluding ETPs. The fund gains its international exposure through the use of ADRs, but will specifically exclude issuers organized in Canada or China. As a geared product, CARD is designed as a short-term trading tool and not a long-term investment vehicle. Long-term returns could materially differ from those of the index due to daily compounding. Since the fund uses an ETN structure, investors assume the credit risk of the issuer.

Grade (RS Rating)

Last Trade

$10.49

Average Daily Volume

2,186

Number of Holdings *

20

* may have additional holdings in another (foreign) market
DIVP

Cullen Enhanced Equity Income ETF

DIVP Description DIVP invests in large- and mid-cap value stocks that generally have higher dividend yield than the average of the funds US benchmark. The fund identifies value stocks that have low price-to-earnings ratio with above-average earnings and dividend growth potential. Companies are screened using fundamental research. The fund may invest up to 30% in non-US companies in the form of ADRs. While the portfolio is not rebalanced systematically, weighting is roughly equal to avoid overweighting of individual securities. To generate additional income, the fund selectively writes covered call options with a target range of between 25-40%. However, the covered call overlay limits participation in potential gains if shares increase in value. The adviser may sell stocks that are no longer viewed as attractive based on growth potential, dividend yield, or price. As an actively managed ETF, the fund manager has full discretion to make buy, hold, or sell decisions at any time.

Grade (RS Rating)

Last Trade

$26.31

Average Daily Volume

1,461

Number of Holdings *

32

* may have additional holdings in another (foreign) market
Performance
Period CARD DIVP
30 Days -2.21% -1.04%
60 Days 8.56% -0.27%
90 Days -11.59% 4.23%
12 Months -62.84%
1 Overlapping Holdings
Symbol Grade Weight in CARD Weight in DIVP Overlap
GPC F 4.01% 1.69% 1.69%
CARD Overweight 19 Positions Relative to DIVP
Symbol Grade Weight
TSLA A 11.83%
F D 10.52%
GM B 10.14%
RIVN F 8.97%
ORLY C 8.54%
CVNA A 8.54%
AZO D 8.54%
KMX F 4.15%
STLA F 3.91%
LCID F 3.47%
AAP F 3.0%
LAD A 2.29%
AN F 1.91%
TM D 1.91%
ABG C 1.31%
GPI C 1.26%
FSS F 0.91%
PAG F 0.87%
HMC F 0.78%
CARD Underweight 31 Positions Relative to DIVP
Symbol Grade Weight
CSCO B -4.24%
MDT B -4.05%
EOG D -3.98%
BMY A -3.93%
VICI D -3.91%
DUK C -3.77%
PM A -3.61%
PPL C -3.55%
CAG D -3.45%
VZ D -3.36%
CMCSA A -3.26%
MRK F -3.26%
CVX A -3.25%
KVUE B -3.21%
C A -3.17%
XOM C -3.14%
TFC C -3.13%
BAC B -3.05%
DOC C -3.04%
BAX F -3.03%
RTX C -2.96%
SYY D -2.94%
MO A -2.7%
IBM C -2.6%
DOW F -2.34%
JCI B -2.28%
JPM A -2.22%
TRV B -2.13%
GD C -2.04%
RIO B -1.95%
UPS C -1.78%
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