CARD vs. JETD ETF Comparison

Comparison of Bank Of Montreal MAX Auto Industry -3x Inverse Leveraged ETN (CARD) to Bank Of Montreal MAX Airlines -3X Inverse Leveraged ETNs (JETD)

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

$7.88

Average Daily Volume

2,069

Number of Holdings ^*

20

* may have additional holdings in another (foreign) market

JETD

Bank Of Montreal MAX Airlines -3X Inverse Leveraged ETNs

JETD Description

The index is a net total return index that tracks the stock prices of U.S.-listed companies that have operations relating to the airline industry, including airlines and aircraft and aircraft parts manufacturers, and companies engaged in the businesses of air freight and logistics, aircraft leasing and airline and airport operations.

Grade (RS Rating)

Last Trade

$13.24

Average Daily Volume

4,496

Number of Holdings ^*

17

* may have additional holdings in another (foreign) market

Performance

Period	CARD	JETD
30 Days	-25.66%	-11.61%
60 Days	-23.21%	-33.31%
90 Days	-17.32%	-39.53%
12 Months	-71.20%	-59.37%

0 Overlapping Holdings

	Symbol	Grade	Weight in CARD	Weight in JETD	Overlap

CARD Overweight 20 Positions Relative to JETD

	Symbol	Grade	Weight
	TSLA	B	11.83%
	F	C	10.52%
	GM	C	10.14%
	RIVN	F	8.97%
	ORLY	B	8.54%
	CVNA	B	8.54%
	AZO	C	8.54%
	KMX	B	4.15%
	GPC	D	4.01%
	STLA	F	3.91%
	LCID	F	3.47%
	AAP	D	3.0%
	LAD	A	2.29%
	AN	C	1.91%
	TM	F	1.91%
	ABG	C	1.31%
	GPI	B	1.26%
	FSS	B	0.91%
	PAG	B	0.87%
	HMC	F	0.78%

CARD Underweight 17 Positions Relative to JETD

	Symbol	Grade	Weight
	BA	F	-9.0%
	UPS	C	-9.0%
	RTX	D	-9.0%
	HON	C	-9.0%
	GE	D	-9.0%
	FDX	B	-9.0%
	DAL	B	-8.98%
	AAL	B	-7.91%
	UAL	A	-7.29%
	GD	D	-7.17%
	LUV	C	-6.79%
	JBLU	F	-1.84%
	ALK	B	-1.84%
	SKYW	C	-0.63%
	CPA	D	-0.57%
	FWRD	D	-0.53%
	ALGT	B	-0.46%

CARD: Top Represented Industries & Keywords

Industries: Auto Manufacturers Auto & Truck Dealerships Specialty Retail Pollution & Treatment Controls

Keywords: Transport Cars S&P 500 Automotive Industry Automotive Products Motor Vehicles Automotive Retail Nasdaq 100 Used Car Vehicle Maintenance Alternator Antifreeze Auto Parts Automotive Aftermarket Automotive Retailer Batteries Car Dealership Chassis Electric Vehicle Paint

JETD: Top Represented Industries & Keywords

Industries: Airlines Aerospace & Defense Integrated Shipping & Logistics Diversified Industrials Specialty Industrial Machinery

Keywords: Aviation S&P 500 Air Transportation Airline Aerospace Air Transportation Services Airport Cargo Customs Brokerage Freight Forwarder Freight Transport Transport Aircraft Management Airline Industry Brakes Business Aviation Cargo Services Dow Jones Component Express Mail Freight Services