CARU vs. PTEU ETF Comparison

Comparison of Bank Of Montreal MAX Auto Industry 3x Leveraged ETN (CARU) to Pacer TrendpilotTM European Index ETF (PTEU)

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

$26.83

Average Daily Volume

157

Number of Holdings ^*

* may have additional holdings in another (foreign) market

PTEU

Pacer TrendpilotTM European Index ETF

PTEU Description

The investment seeks to track the total return performance of the Pacer Trendpilot European Index. Normally the fund will invest at least 80% of its total assets in the component securities of the index and investments that have economic characteristics that are substantially identical to the economic characteristics of such component securities. The index uses an objective, rules-based methodology to implement a systematic trend-following strategy that directs exposure (i) 100% to the FTSE Eurobloc Index, (ii) 50% to the FTSE Eurobloc Index and 50% to 3-Month US Treasury bills, or (iii) 100% to 3-Month US Treasury bills. It is non-diversified.

Grade (RS Rating)

Last Trade

$25.21

Average Daily Volume

2,210

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CARU	PTEU
30 Days	25.34%	-5.35%
60 Days	18.09%	-7.19%
90 Days	5.78%	-7.94%
12 Months	72.70%	4.06%

1 Overlapping Holdings

	Symbol	Grade	Weight in CARU	Weight in PTEU	Overlap
	STLA	F	3.91%	0.5%	0.5%

CARU Overweight 19 Positions Relative to PTEU

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%
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%

CARU Underweight 13 Positions Relative to PTEU

Symbol	Grade	Weight
ASML	F	-4.98%
SAP	B	-4.62%
TTE	F	-2.24%
SNY	F	-1.91%
SAN	D	-1.28%
BBVA	D	-0.99%
BUD	F	-0.93%
ING	F	-0.91%
ARGX	B	-0.65%
E	F	-0.6%
NOK	D	-0.42%
QGEN	D	-0.17%
TS	B	-0.15%

CARU: Top Represented Industries & Keywords

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