NRSH vs. CARU ETF Comparison

Comparison of Aztlan North America Nearshoring Stock Selection ETF (NRSH) to Bank Of Montreal MAX Auto Industry 3x Leveraged ETN (CARU)

NRSH

Aztlan North America Nearshoring Stock Selection ETF

NRSH Description

The initial universe for the index includes companies that, according to GICS classifications, belong to one of the following industries or sub-industries: (a) Industrial REITs, (b) Office REITs, (c) Real Estate Management & Development, (d) Specialized REITs, (e) Ground Transportation, (f) Air Freight & Logistics, (g) Transportation Infrastructure, or (h) Marine Transportation. The fund will invest all, or substantially all, of its assets in the component securities that make up the index. It is non-diversified.

Grade (RS Rating)

Last Trade

$23.14

Average Daily Volume

1,394

Number of Holdings ^*

* may have additional holdings in another (foreign) market

CARU

Bank Of Montreal MAX Auto Industry 3x Leveraged ETN

CARU Description

CARU is an aggressive and bullish one-day bet on the US auto industry. The fund provides 3x daily leveraged exposure to a modified liquidity-weighted index that includes firms engaged in automobile manufacturing, automobile parts and retail, and car dealing. The index defines the industries based on the North American Industry Classification System (NAICS) and selects US-listed equities, excluding ETPs. The fund gains its international exposure through the use of ADRs, but will specifically exclude issuers organized in Canada or China. As a geared product, CARU 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. Since the fund uses an ETN structure, investors assume the credit risk of the issuer.

Grade (RS Rating)

Last Trade

$26.83

Average Daily Volume

157

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	NRSH	CARU
30 Days	3.28%	25.34%
60 Days	2.97%	18.09%
90 Days	4.08%	5.78%
12 Months		72.70%

0 Overlapping Holdings

	Symbol	Grade	Weight in NRSH	Weight in CARU	Overlap

NRSH Overweight 17 Positions Relative to CARU

Symbol	Grade	Weight
MATX	C	7.64%
CHRW	B	7.28%
LSTR	D	6.06%
CSX	C	5.6%
GXO	B	5.51%
UNP	C	5.46%
SNDR	B	5.28%
ARCB	C	5.24%
WERN	C	5.14%
HUBG	A	5.13%
NSC	B	4.85%
FWRD	D	4.59%
CNI	F	4.41%
KEX	B	4.19%
ATSG	B	1.35%
GNK	D	0.96%
ULH	C	0.58%

NRSH Underweight 20 Positions Relative to CARU

Symbol	Grade	Weight
TSLA	B	-11.83%
F	C	-10.52%
GM	C	-10.14%
RIVN	F	-8.97%
ORLY	B	-8.54%
CVNA	B	-8.54%
AZO	C	-8.54%
KMX	B	-4.15%
GPC	D	-4.01%
STLA	F	-3.91%
LCID	F	-3.47%
AAP	D	-3.0%
LAD	A	-2.29%
AN	C	-1.91%
TM	F	-1.91%
ABG	C	-1.31%
GPI	B	-1.26%
FSS	B	-0.91%
PAG	B	-0.87%
HMC	F	-0.78%

CARU: Top Represented Industries & Keywords

Industries: Auto Manufacturers Auto & Truck Dealerships Specialty Retail Pollution & Treatment Controls