DULL vs. EPU ETF Comparison

Comparison of Bank Of Montreal MicroSectors Gold -3X Inverse Leveraged ETNs due January 29, 2043 (DULL) to iShares MSCI All Peru Capped ETF (EPU)

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

$12.87

Average Daily Volume

2,652

Number of Holdings ^*

10

* may have additional holdings in another (foreign) market

EPU

iShares MSCI All Peru Capped ETF

EPU Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI All Peru Capped Index (the "underlying index"). The fund generally invests at least 80% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. The underlying index is a free float-adjusted market capitalization index designed to measure the performance of Peruvian equity securities as well as securities of companies that are headquartered in Peru and have the majority of their operations based in Peru. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$40.59

Average Daily Volume

17,724

Number of Holdings ^*

6

* may have additional holdings in another (foreign) market

Performance

Period	DULL	EPU
30 Days	-9.38%	3.84%
60 Days	-26.94%	14.46%
90 Days	-29.51%	18.86%
12 Months	-30.65%	37.66%

0 Overlapping Holdings

	Symbol	Grade	Weight in DULL	Weight in EPU	Overlap

DULL Overweight 10 Positions Relative to EPU

	Symbol	Grade	Weight
	WPM	A	11.85%
	PAAS	B	5.16%
	CDE	B	5.05%
	HL	B	4.81%
	AGI	B	4.45%
	SSRM	C	4.32%
	MAG	B	2.88%
	SVM	B	1.62%
	MUX	A	1.57%
	EXK	B	1.03%

DULL Underweight 6 Positions Relative to EPU

	Symbol	Grade	Weight
	SCCO	A	-26.23%
	BAP	C	-19.2%
	BVN	A	-4.39%
	FSM	A	-3.56%
	LAUR	A	-2.37%
	IFS	F	-1.2%

DULL: Top Represented Industries & Keywords

Industries: Silver Gold Industrial Metals & Minerals

Keywords: Mining Silver Gold Gold Mining Silver Mining In The United States Base Metal Bullion Copper Mineral Products New Gold Precious And Base Metal Precious Metal Properties Precious Metal Purchase Agreements S&P/Tsx 60 Silver Mining Silvercorp Metals Smelting Ssr Mining Inc. Zinc Zinc Mining

EPU: Top Represented Industries & Keywords

Industries: Banks - Regional - Latin America Copper Education & Training Services Industrial Metals & Minerals Silver

Keywords: Mining Bank Banking Copper Gold Silver Acute Care Services Asset Management Products Coke Commercial Banking Copper Extraction Distance Education Electrical Transmission Fund Management Services Health Sciences Higher Education Insurance Products Investment Bank Investment Banking Investment Services