CARU vs. ONLN ETF Comparison

Comparison of Bank Of Montreal MAX Auto Industry 3x Leveraged ETN (CARU) to ProShares Online Retail ETF (ONLN)

CARU

Bank Of Montreal MAX Auto Industry 3x Leveraged ETN

CARU Description

CARU is an aggressive and bullish one-day bet on the US auto industry. The fund provides 3x daily leveraged 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, CARU 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

$29.10

Average Daily Volume

157

Number of Holdings ^*

* may have additional holdings in another (foreign) market

ONLN

ProShares Online Retail ETF

ONLN Description

The investment seeks investment results, before fees and expenses, that track the performance of the ProShares Online Retail Index (the index). The fund seeks to invest substantially all of its assets in the stocks that make up the index and generally holds each stock in approximately the same proportion as its weighting in the index. Normally, it will invest at least 80% of its assets in the component securities of the index. The index is designed to measure the performance of publicly traded companies that principally sell online or through other non-store sales channels, rather than through "brick and mortar" store locations. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$44.93

Average Daily Volume

10,052

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CARU	ONLN
30 Days	38.43%	2.13%
60 Days	28.09%	4.68%
90 Days	14.74%	6.90%
12 Months	87.33%	40.25%

1 Overlapping Holdings

	Symbol	Grade	Weight in CARU	Weight in ONLN	Overlap
	CVNA	B	8.54%	5.2%	5.2%

CARU Overweight 19 Positions Relative to ONLN

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

CARU Underweight 15 Positions Relative to ONLN

Symbol	Grade	Weight
AMZN	C	-25.36%
EBAY	D	-10.04%
PDD	F	-7.91%
CHWY	B	-5.11%
RVLV	B	-5.04%
BABA	D	-4.38%
BKE	B	-4.21%
CPNG	D	-4.08%
ETSY	D	-4.05%
W	F	-3.71%
FIGS	F	-2.82%
MELI	D	-2.76%
SE	B	-2.68%
GLBE	B	-2.07%
JD	D	-2.05%

CARU: Top Represented Industries & Keywords

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

ONLN: Top Represented Industries & Keywords

Industries: Specialty Retail Internet Retail Apparel Manufacturing Apparel Stores Electronic Gaming & Multimedia