CARD vs. RFEU ETF Comparison

Comparison of Bank Of Montreal MAX Auto Industry -3x Inverse Leveraged ETN (CARD) to First Trust RiverFront Dynamic Europe ETF (RFEU)

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

$7.21

Average Daily Volume

2,286

Number of Holdings ^*

* may have additional holdings in another (foreign) market

RFEU

First Trust RiverFront Dynamic Europe ETF

RFEU Description

The First Trust RiverFront Dynamic Europe ETF is an actively managed exchange-traded fund. The Fund's investment objective is to provide capital appreciation. Under normal market conditions, the Fund will seek to achieve its investment objective by investing at least 80% of its net assets (including investment borrowings) in a portfolio of equity securities of European companies, including through investments in common stock, depositary receipts and real estate investment trusts, and forward foreign currency exchange contracts

Grade (RS Rating)

Last Trade

$61.78

Average Daily Volume

111

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CARD	RFEU
30 Days	-33.65%	-4.31%
60 Days	-27.31%	-8.25%
90 Days	-24.37%	-9.43%
12 Months	-73.66%	5.29%

1 Overlapping Holdings

	Symbol	Grade	Weight in CARD	Weight in RFEU	Overlap
	STLA	F	3.91%	1.96%	1.96%

CARD Overweight 19 Positions Relative to RFEU

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	B	4.15%
GPC	D	4.01%
LCID	F	3.47%
AAP	C	3.0%
LAD	A	2.29%
AN	C	1.91%
TM	D	1.91%
ABG	B	1.31%
GPI	A	1.26%
FSS	B	0.91%
PAG	B	0.87%
HMC	F	0.78%

CARD Underweight 5 Positions Relative to RFEU

Symbol	Grade	Weight
NVS	D	-2.94%
UL	D	-2.35%
E	F	-1.15%
HSBH	B	-1.1%
DEO	F	-0.24%

CARD: Top Represented Industries & Keywords

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