JETU vs. PIO ETF Comparison

Comparison of Bank Of Montreal MAX Airlines 3X Leveraged ETNs (JETU) to PowerShares Global Water Portfolio (PIO)

JETU

Bank Of Montreal MAX Airlines 3X Leveraged ETNs

JETU Description

JETU is a leveraged take on the US airport transportation industry. Specifically, the fund tracks 3x the index, which includes firms involved in airlines, aircraft and aircraft parts manufacturers, airfreight and logistics, aircraft leasing, and airline and airport operations. The index defines the industries based on the North American Industry Classification System (NAICS) and selects US-listed equities, excluding any ETPs and MLPs. The index also excludes issuers organized in Canada or China. For industry screens, Aircraft and Parts Manufacturing industry only includes the five largest companies by market cap. Airfreight and Logistics companies must disclose in their recent annual report that they own aircraft to execute their core business activity. The index is a modified liquidity-weighted index, which ranks the constituents, based on highest average daily value traded. As a geared product, JETU is designed as a short-term trading tool and not a long-term investment vehicle. Long-term returns could materially differ from those of the index due to daily compounding.

Grade (RS Rating)

Last Trade

$27.06

Average Daily Volume

415

Number of Holdings ^*

17

* may have additional holdings in another (foreign) market

PIO

PowerShares Global Water Portfolio

PIO Description

The PowerShares Global Water Portfolio (Fund) is based on the NASDAQ OMX Global Water Index. The Fund generally will invest at least 90% of its total assets in companies listed on a global exchange that create products designed to conserve and purify water for homes, businesses and industries. The Fund and the Index are rebalanced quarterly and reconstituted annually in April.

Grade (RS Rating)

Last Trade

$40.92

Average Daily Volume

9,693

Number of Holdings ^*

12

* may have additional holdings in another (foreign) market

Performance

Period	JETU	PIO
30 Days	8.77%	-1.04%
60 Days	39.51%	-3.06%
90 Days	49.84%	-2.74%
12 Months	64.09%	15.14%

0 Overlapping Holdings

	Symbol	Grade	Weight in JETU	Weight in PIO	Overlap

JETU Overweight 17 Positions Relative to PIO

	Symbol	Grade	Weight
	BA	F	9.0%
	UPS	C	9.0%
	RTX	D	9.0%
	HON	C	9.0%
	GE	D	9.0%
	FDX	B	9.0%
	DAL	B	8.98%
	AAL	B	7.91%
	UAL	A	7.29%
	GD	D	7.17%
	LUV	C	6.79%
	JBLU	F	1.84%
	ALK	B	1.84%
	SKYW	C	0.63%
	CPA	D	0.57%
	FWRD	D	0.53%
	ALGT	B	0.46%

JETU Underweight 12 Positions Relative to PIO

	Symbol	Grade	Weight
	PNR	A	-9.8%
	ROP	B	-8.36%
	ECL	D	-8.03%
	WAT	C	-3.76%
	XYL	D	-3.62%
	VLTO	C	-3.58%
	AWK	C	-2.95%
	IEX	C	-2.91%
	CNM	D	-2.64%
	WMS	F	-1.91%
	AOS	F	-1.72%
	CWCO	C	-0.25%

JETU: Top Represented Industries & Keywords

Industries: Airlines Aerospace & Defense Integrated Shipping & Logistics Diversified Industrials Specialty Industrial Machinery

Keywords: Aviation S&P 500 Air Transportation Airline Aerospace Air Transportation Services Airport Cargo Customs Brokerage Freight Forwarder Freight Transport Transport Aircraft Management Airline Industry Brakes Business Aviation Cargo Services Dow Jones Component Express Mail Freight Services

PIO: Top Represented Industries & Keywords

Industries: Diversified Industrials Utilities - Regulated Water Diagnostics & Research Industrial Distribution Pollution & Treatment Controls Rubber & Plastics Specialty Chemicals

Keywords: S&P 500 Chemical Irrigation Water Water Treatment Beverage Boiler Chemical Process Chemical Processing Construction Dover Corporation Drug Discovery Electronics Injector Mining Pharmaceutical Plastic Plumbing Sanitation Sewerage