FLYD vs. CRUZ ETF Comparison

Comparison of Bank of Montreal MicroSectors Travel -3x Inverse Leveraged ETN (FLYD) to Defiance Hotel, Airline, and Cruise ETF (CRUZ)

FLYD

Bank of Montreal MicroSectors Travel -3x Inverse Leveraged ETN

FLYD Description

The index is a net total return index that tracks the stock prices of U.S. listed securities thatare materially engaged in specified segments of the travel industry.

Grade (RS Rating)

Last Trade

$14.11

Average Daily Volume

815

Number of Holdings ^*

* may have additional holdings in another (foreign) market

CRUZ

Defiance Hotel, Airline, and Cruise ETF

CRUZ Description

The investment seeks to track the total return performance, before fees and expenses, of the BlueStar Global Hotels, Airlines, and Cruises Index (the 'index'). The index is a rules-based index that consists of globally-listed stocks of companies that derive at least 50% of their revenues from the passenger airline, hotel and resort, or cruise industries (Travel Companies) as determined by MV Index Solutions. Under normal circumstances, the fund invests at least 80% of its net assets (plus borrowings for investment purposes) in Travel Companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$26.51

Average Daily Volume

8,847

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FLYD	CRUZ
30 Days	-24.96%	8.86%
60 Days	-43.20%	16.26%
90 Days	-53.20%	25.87%
12 Months	-68.94%	36.27%

13 Overlapping Holdings

Symbol	Grade	Weight in FLYD	Weight in CRUZ	Overlap
AAL	B	4.73%	2.14%	2.14%
ALK	C	1.04%	1.59%	1.04%
CCL	B	5.23%	6.21%	5.23%
CHH	A	0.67%	0.86%	0.67%
DAL	C	4.29%	8.6%	4.29%
H	B	0.98%	0.95%	0.95%
HLT	A	3.1%	7.64%	3.1%
LUV	C	2.66%	2.81%	2.66%
MAR	B	3.83%	7.97%	3.83%
NCLH	B	2.53%	2.71%	2.53%
RCL	A	3.43%	8.85%	3.43%
UAL	A	3.91%	5.77%	3.91%
WH	B	0.65%	1.48%	0.65%

FLYD Overweight 17 Positions Relative to CRUZ

Symbol	Grade	Weight
UBER	D	14.14%
DIS	B	13.2%
BKNG	A	9.4%
ABNB	C	7.98%
EXPE	B	3.29%
LVS	C	2.69%
LYFT	C	2.26%
WYNN	D	1.98%
MGM	D	1.94%
CZR	F	1.55%
MTN	C	1.15%
CAR	C	1.07%
BYD	C	0.58%
CHDN	B	0.54%
HGV	B	0.33%
TNL	A	0.27%
JOE	F	0.12%

FLYD Underweight 14 Positions Relative to CRUZ

Symbol	Grade	Weight
IHG	A	-3.93%
HST	C	-2.31%
HTHT	D	-1.79%
RHP	B	-1.42%
SKYW	B	-0.94%
APLE	B	-0.76%
PK	B	-0.7%
ATAT	C	-0.64%
CPA	D	-0.64%
SHO	C	-0.5%
JBLU	F	-0.49%
RLJ	C	-0.45%
DRH	B	-0.45%
PEB	D	-0.31%

FLYD: Top Represented Industries & Keywords

Industries: Resorts & Casinos Lodging Airlines Leisure Software - Application Gambling Internet Content & Information Media - Diversified Real Estate - General Rental & Leasing Services Travel Services

CRUZ: Top Represented Industries & Keywords

Industries: Airlines Lodging REIT - Hotel & Motel Leisure