CARD vs. LVHI ETF Comparison

Comparison of Bank Of Montreal MAX Auto Industry -3x Inverse Leveraged ETN (CARD) to Legg Mason International Low Volatility High Dividend ETF (LVHI)

CARD

Bank Of Montreal MAX Auto Industry -3x Inverse Leveraged ETN

CARD Description

CARD makes a big and bearish one-day bet against the US auto industry. The fund provides 3x daily inverse 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, CARD 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

$7.95

Average Daily Volume

2,026

Number of Holdings ^*

20

* may have additional holdings in another (foreign) market

LVHI

Legg Mason International Low Volatility High Dividend ETF

LVHI Description

The investment seeks to track the investment results of the QS International Low Volatility High Dividend Hedged Index. The fund will invest at least 80% of its net assets, plus borrowings for investment purposes, if any, in securities that compose its underlying index. The underlying index seeks to provide more stable income through investments in stocks of profitable companies in developed markets outside of the United States with relatively high dividend yields or anticipated dividend yields and lower price and earnings volatility, while mitigating exposure to exchange-rate fluctuations between the USD and other international currencies.

Grade (RS Rating)

Last Trade

$31.30

Average Daily Volume

209,156

Number of Holdings ^*

4

* may have additional holdings in another (foreign) market

Performance

Period	CARD	LVHI
30 Days	-25.03%	-0.48%
60 Days	-20.69%	0.84%
90 Days	-22.99%	3.31%
12 Months	-70.44%	16.56%

1 Overlapping Holdings

	Symbol	Grade	Weight in CARD	Weight in LVHI	Overlap
	STLA	F	3.91%	2.04%	2.04%

CARD Overweight 19 Positions Relative to LVHI

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

CARD Underweight 3 Positions Relative to LVHI

	Symbol	Grade	Weight
	NVS	D	-2.24%
	E	F	-2.22%
	TRMD	F	-0.06%

CARD: Top Represented Industries & Keywords

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

Keywords: Transport Cars S&P 500 Automotive Industry Automotive Products Motor Vehicles Automotive Retail Nasdaq 100 Used Car Vehicle Maintenance Alternator Antifreeze Auto Parts Automotive Aftermarket Automotive Retailer Batteries Car Dealership Chassis Electric Vehicle Paint

LVHI: Top Represented Industries & Keywords

Industries: Auto Manufacturers Drug Manufacturers - Major Oil & Gas Integrated Shipping & Ports

Keywords: Petroleum Products Active Pharmaceutical Ingredients Animal Health Antibiotics Automotive Manufacturers Biotechnology Blood Test Bulk Carrier Cars Chemical Chemical Substances Chrysler Contact Lens Contact Lenses Diagnostic Products Disposable Product Disposable Products Drugs Elastomer Electricity