DULL vs. GOAU ETF Comparison

Comparison of Bank Of Montreal MicroSectors Gold -3X Inverse Leveraged ETNs due January 29, 2043 (DULL) to U.S. Global GO GOLD and Precious Metal Miners ETF (GOAU)

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

GOAU

U.S. Global GO GOLD and Precious Metal Miners ETF

GOAU Description

The investment seeks to track the performance, before fees and expenses, of the U.S. Global Go Gold and Precious Metal Miners Index. Under normal circumstances, the fund will invest at least 80% of its net assets in Precious Metals Companies and at least 20% of its net assets (plus borrowings for investment purposes) in Precious Metals Companies that primarily derive their revenue from gold. The index is composed of the exchange-listed common stock (or American Depositary Receipts (ADRs)) of U.S. and international (including emerging markets) companies that earn at least 50 percent of their aggregate revenue from precious metals. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$18.85

Average Daily Volume

27,678

Number of Holdings ^*

4

* may have additional holdings in another (foreign) market

Performance

Period	DULL	GOAU
30 Days	-9.38%	4.72%
60 Days	-26.94%	24.50%
90 Days	-29.51%	14.59%
12 Months	-30.65%	-4.48%

0 Overlapping Holdings

	Symbol	Grade	Weight in DULL	Weight in GOAU	Overlap

DULL Overweight 10 Positions Relative to GOAU

	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 4 Positions Relative to GOAU

	Symbol	Grade	Weight
	RGLD	B	-9.47%
	FSM	A	-5.35%
	HMY	B	-3.32%
	SBSW	D	-3.12%

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

GOAU: Top Represented Industries & Keywords

Industries: Gold Silver

Keywords: Molybdenum Burns Catalysts Chemical Elements Gold Gold Mining Harmony Gold Mining Native Element Minerals Nickel Noble Metals Palladium Platinum Precious Metals Silver Smelting Ssr Mining Inc. Transition Metals Zinc Mining