RING vs. DULL ETF Comparison

Comparison of iShares MSCI Global Gold Miners Fund (RING) to Bank Of Montreal MicroSectors Gold -3X Inverse Leveraged ETNs due January 29, 2043 (DULL)
RING

iShares MSCI Global Gold Miners Fund

RING Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI ACWI Select Gold Miners Investable Market Index (the "underlying index"). The fund generally invests at least 80% of its assets in securities of the underlying index or in depositary receipts representing securities in the underlying index. The underlying index has been developed by MSCI Inc. ("MSCI") to measure the combined performance of equity securities of companies primarily engaged in the business of gold mining in both developed and emerging markets. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$27.77

Average Daily Volume

126,460

Number of Holdings *

6

* 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

$12.42

Average Daily Volume

2,451

Number of Holdings *

10

* may have additional holdings in another (foreign) market
Performance
Period RING DULL
30 Days 12.16% -18.09%
60 Days 33.96% -34.64%
90 Days 25.60% -35.45%
12 Months 8.00% -36.09%
1 Overlapping Holdings
Symbol Grade Weight in RING Weight in DULL Overlap
CDE A 1.44% 5.05% 1.44%
RING Overweight 5 Positions Relative to DULL
Symbol Grade Weight
NEM A 18.58%
GOLD A 12.04%
AU A 4.77%
BVN A 1.91%
IAG A 1.45%
RING Underweight 9 Positions Relative to DULL
Symbol Grade Weight
WPM A -11.85%
PAAS A -5.16%
HL B -4.81%
AGI A -4.45%
SSRM B -4.32%
MAG A -2.88%
SVM B -1.62%
MUX A -1.57%
EXK B -1.03%
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