GDXD vs. DULL ETF Comparison

Comparison of MicroSectors Gold Miners -3X Inverse Leveraged ETNs (GDXD) to Bank Of Montreal MicroSectors Gold -3X Inverse Leveraged ETNs due January 29, 2043 (DULL)

GDXD

MicroSectors Gold Miners -3X Inverse Leveraged ETNs

GDXD Description

The investment seeks the return on the notes is linked to a three times leveraged participation in the daily inverse performance of the S-Network MicroSectorsTM Gold Miners Index.The index is a total return index that tracks the performance of two exchange traded funds, the VanEck Vectors® Gold Miners ETF (the ?GDX?) and the VanEck Vectors® Junior Gold Miners ETF (the ?GDXJ?).

Grade (RS Rating)

Last Trade

$21.30

Average Daily Volume

501,485

Number of Holdings ^*

2

* may have additional holdings in another (foreign) market

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

$11.73

Average Daily Volume

3,215

Number of Holdings ^*

10

* may have additional holdings in another (foreign) market

Performance

Period	GDXD	DULL
30 Days	-16.37%	-1.69%
60 Days	-44.73%	-23.56%
90 Days	-65.33%	-39.57%
12 Months	-48.55%	-34.86%

0 Overlapping Holdings

	Symbol	Grade	Weight in GDXD	Weight in DULL	Overlap

GDXD Overweight 2 Positions Relative to DULL

	Symbol	Grade	Weight
	GDX	B	75.0%
	GDXJ	B	25.0%

GDXD Underweight 10 Positions Relative to DULL

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

GDXD: Top Represented Industries & Keywords

Industries:

Keywords: ETF Exchange Traded Fund Gold Mining Gold Mining Industry Stock Fund American Depositary Receipt Mining Nyse Arca Gold Miners Index Occupational Safety And Health Silver Mining Sovereign Wealth Funds Stock Market Index

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