IETC vs. FNGO ETF Comparison

Comparison of iShares Evolved U.S. Technology ETF (IETC) to MicroSectors FANG Index 2X Leveraged ETNs due January 8, 2038 (FNGO)

IETC

iShares Evolved U.S. Technology ETF

IETC Description

The investment seeks to provide access to U.S. companies with technology exposure, as classified using a proprietary classification system. The fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets in U.S. listed common stock of large-, mid- and small-capitalization technology companies. It will hold common stock of those companies that fall into the Technology Evolved Sector which have economic characteristics that have been historically correlated with companies traditionally defined as technology companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$82.22

Average Daily Volume

19,325

Number of Holdings ^*

117

* may have additional holdings in another (foreign) market

FNGO

MicroSectors FANG Index 2X Leveraged ETNs due January 8, 2038

FNGO Description

The investment seeks to approximate the returns that might be available to investors through a leveraged ¿long¿ investment in the NYSE FANG+¿ Index (the index). The notes are senior unsecured medium-term notes issued by Bank of Montreal with a return linked to a 2X leveraged participation in the performance of the index, compounded daily, less a Daily Investor Fee, the Daily Financing Charge and, if applicable, the Redemption Fee Amount. The index is an equal-dollar weighted index designed to represent a segment of the technology and consumer discretionary sectors consisting of highly-traded growth stocks of technology and tech-enabled companies.

Grade (RS Rating)

Last Trade

$83.33

Average Daily Volume

20,207

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	IETC	FNGO
30 Days	3.17%	12.61%
60 Days	5.58%	16.24%
90 Days	8.32%	18.98%
12 Months	39.98%	98.51%

9 Overlapping Holdings

Symbol	Grade	Weight in IETC	Weight in FNGO	Overlap
AAPL	C	2.42%	9.93%	2.42%
AMZN	C	8.02%	9.87%	8.02%
AVGO	D	11.87%	10.17%	10.17%
CRWD	B	0.33%	10.78%	0.33%
GOOGL	C	2.34%	9.83%	2.34%
META	D	1.79%	10.02%	1.79%
MSFT	F	7.7%	9.7%	7.7%
NOW	A	2.11%	10.11%	2.11%
NVDA	C	8.78%	9.83%	8.78%

IETC Overweight 108 Positions Relative to FNGO

Symbol	Grade	Weight
ACN	C	4.24%
CRM	B	3.82%
ORCL	B	3.5%
MSI	B	2.4%
VRSN	F	1.99%
IBM	C	1.92%
CSCO	B	1.85%
CDNS	B	1.84%
ICE	C	1.6%
GOOG	C	1.44%
QCOM	F	1.35%
MANH	D	1.28%
FTNT	C	1.25%
ADBE	C	1.19%
GPN	B	1.12%
PH	A	0.99%
MA	C	0.95%
TEAM	A	0.84%
PANW	C	0.82%
NTAP	C	0.78%
EQIX	A	0.74%
ADSK	A	0.71%
SSNC	B	0.71%
AMD	F	0.7%
WDAY	B	0.69%
ABNB	C	0.66%
VRSK	A	0.64%
TYL	B	0.63%
IT	C	0.62%
TTD	B	0.62%
ZM	B	0.6%
PLTR	B	0.58%
ANET	C	0.58%
CDW	F	0.57%
MPWR	F	0.52%
LMT	D	0.41%
ANSS	B	0.4%
MU	D	0.39%
CSGP	D	0.37%
MCO	B	0.35%
KLAC	D	0.34%
G	B	0.32%
TXN	C	0.3%
FDS	B	0.3%
MSTR	C	0.28%
COIN	C	0.28%
UBER	D	0.23%
TTEK	F	0.21%
DASH	A	0.21%
SNPS	B	0.2%
SQ	B	0.2%
BAH	F	0.2%
KEYS	A	0.18%
MMC	B	0.18%
BSY	D	0.17%
QLYS	C	0.17%
TRU	D	0.17%
DDOG	A	0.16%
LRCX	F	0.16%
CACI	D	0.15%
AKAM	D	0.14%
PINS	D	0.14%
HUBS	A	0.14%
IQV	D	0.13%
SWKS	F	0.13%
MSCI	C	0.12%
EA	A	0.12%
VEEV	C	0.11%
NSIT	F	0.1%
IPG	D	0.1%
TER	D	0.1%
NDAQ	A	0.09%
CFLT	B	0.09%
IRM	D	0.09%
VRT	B	0.09%
SLB	C	0.09%
INTU	C	0.07%
ADP	B	0.07%
SNAP	C	0.07%
ROK	B	0.07%
CPAY	A	0.06%
TDY	B	0.06%
CBOE	B	0.06%
SLAB	D	0.06%
CPNG	D	0.06%
DELL	C	0.06%
JNPR	F	0.06%
LPLA	A	0.06%
QRVO	F	0.06%
BBY	D	0.06%
FBIN	D	0.06%
DOCN	D	0.05%
MMS	F	0.05%
ILMN	D	0.05%
SAIC	F	0.05%
CL	D	0.04%
APPN	B	0.04%
BILL	A	0.04%
DXC	B	0.04%
GLW	B	0.03%
ZI	D	0.02%
ENPH	F	0.02%
XYL	D	0.02%
RIVN	F	0.01%
GDDY	A	0.01%
ALGN	D	0.0%
GRAL	C	0.0%
FTV	C	0.0%

IETC Underweight 1 Positions Relative to FNGO

	Symbol	Grade	Weight
	NFLX	A	-9.75%

IETC: Top Represented Industries & Keywords

Industries: Software - Application Business Services Semiconductors Information Technology Services Software - Infrastructure Internet Content & Information Capital Markets Semiconductor Equipment & Materials Communication Equipment Diagnostics & Research Diversified Industrials Financial Data & Stock Exchanges Scientific & Technical Instruments Computer Systems Internet Content & Information Specialty Retail Advertising Agencies Aerospace & Defense Auto Manufacturers Conglomerates