SMHX vs. FNGS ETF Comparison

Comparison of VanEck Fabless Semiconductor ETF (SMHX) to MicroSectors FANG ETNs due January 8, 2038 (FNGS)

SMHX

VanEck Fabless Semiconductor ETF

SMHX Description

The fund normally invests at least 80% of its total assets in securities that comprise the fund"s benchmark index. The Fabless Index is composed of U.S.-listed common stocks of companies that derive at least 50% of their revenues from the semiconductor industry and operate as fabless semiconductor companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$27.49

Average Daily Volume

30,191

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FNGS

MicroSectors FANG ETNs due January 8, 2038

FNGS Description

The investment seeks to link the return to the performance of the gross total return version of the NYSE® FANG+™ Index. 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. The notes are unsecured and unsubordinated obligations of Bank of Montreal. Each note will have an initial principal amount of $50.

Grade (RS Rating)

Last Trade

$53.53

Average Daily Volume

148,268

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	SMHX	FNGS
30 Days	1.55%	3.60%
60 Days	10.16%	8.16%
90 Days		10.26%
12 Months		48.74%

2 Overlapping Holdings

	Symbol	Grade	Weight in SMHX	Weight in FNGS	Overlap
	AVGO	D	14.4%	10.17%	10.17%
	NVDA	B	22.39%	9.83%	9.83%

SMHX Overweight 19 Positions Relative to FNGS

Symbol	Grade	Weight
SNPS	B	5.08%
MRVL	B	4.87%
CDNS	B	4.6%
QCOM	F	4.39%
AMD	F	4.13%
ARM	F	3.9%
RMBS	B	3.62%
CRUS	D	2.98%
LSCC	D	2.92%
PI	D	2.72%
MPWR	F	2.57%
POWI	F	2.25%
SLAB	F	1.89%
AMBA	B	1.67%
SIMO	D	1.55%
ALGM	D	1.54%
SITM	B	1.47%
SYNA	C	1.47%
SMTC	B	1.4%

SMHX Underweight 8 Positions Relative to FNGS

Symbol	Grade	Weight
CRWD	B	-10.78%
NOW	A	-10.11%
META	D	-10.02%
AAPL	C	-9.93%
AMZN	C	-9.87%
GOOGL	C	-9.83%
NFLX	A	-9.75%
MSFT	D	-9.7%