AVDS vs. DULL ETF Comparison

Comparison of Avantis International Small Cap Equity ETF (AVDS) to Bank Of Montreal MicroSectors Gold -3X Inverse Leveraged ETNs due January 29, 2043 (DULL)

AVDS

Avantis International Small Cap Equity ETF

AVDS Description

The fund invests primarily in a diverse group of non-U.S. small cap companies across market sectors, industry groups, and countries. Under normal market conditions, the fund will invest at least 80% of its assets in equity securities of small capitalization companies. The fund may invest in securities that are denominated in foreign currencies and may also invest in foreign securities that are represented in the U.S. and other securities markets by American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs), and other similar depositary arrangements.

Grade (RS Rating)

Last Trade

$53.50

Average Daily Volume

3,033

Number of Holdings ^*

3

* 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

$11.23

Average Daily Volume

5,792

Number of Holdings ^*

10

* may have additional holdings in another (foreign) market

Performance

Period	AVDS	DULL
30 Days	0.74%	-11.75%
60 Days	0.27%	-6.84%
90 Days	2.87%	-9.20%
12 Months		-45.20%

1 Overlapping Holdings

	Symbol	Grade	Weight in AVDS	Weight in DULL	Overlap
	AGI	A	0.3%	4.45%	0.3%

AVDS Overweight 2 Positions Relative to DULL

	Symbol	Grade	Weight
	SUM	D	0.32%
	ENG	F	0.29%

AVDS Underweight 9 Positions Relative to DULL

	Symbol	Grade	Weight
	WPM	A	-11.85%
	PAAS	A	-5.16%
	CDE	A	-5.05%
	HL	C	-4.81%
	SSRM	D	-4.32%
	MAG	C	-2.88%
	SVM	C	-1.62%
	MUX	D	-1.57%
	EXK	A	-1.03%

AVDS: Top Represented Industries & Keywords

Industries: Building Materials Engineering & Construction Gold

Keywords: Alternative Energy Applied Sciences Asphalt Building Materials Cement Chemical Chemical Manufacturers Concrete Concrete Products Construction Construction Management Construction Services Crushed Stone Downstream Products Energy Sector Gold Mining Gravel Instrumentation Systems Landfill Larsen & Toubro

DULL: Top Represented Industries & Keywords

Industries: Silver Gold Industrial Metals & Minerals

Keywords: Mining Silver Gold Gold Mining Silver Mining In The United States Base Metal Bullion Copper Mineral Products New Gold Precious And Base Metal Precious Metal Properties Precious Metal Purchase Agreements S&P/Tsx 60 Silver Mining Silvercorp Metals Smelting Ssr Mining Inc. Zinc Zinc Mining