CARD vs. SUPP ETF Comparison

Comparison of Bank Of Montreal MAX Auto Industry -3x Inverse Leveraged ETN (CARD) to Engine No. 1 Transform Supply Chain ETF (SUPP)

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

$8.33

Average Daily Volume

2,072

Number of Holdings ^*

* may have additional holdings in another (foreign) market

SUPP

Engine No. 1 Transform Supply Chain ETF

SUPP Description

The fund is an actively managed exchange-traded fund ("ETF") that invests in U.S.-listed equity, ADR securities, and non-U.S. developed and emerging market-listed securities, which over time may vary as market and investment opportunities change. The fund may also enter into currency-related spot transactions when it transacts in equities denominated in foreign currencies or invest in certain derivative instruments, such as currency futures or forwards that will help the adviser manage risk associated with foreign currency exposure, if any, or futures contracts. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$69.39

Average Daily Volume

751

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CARD	SUPP
30 Days	-21.54%	6.39%
60 Days	-24.52%	13.25%
90 Days	-28.98%	14.22%
12 Months	-67.75%	42.28%

0 Overlapping Holdings

	Symbol	Grade	Weight in CARD	Weight in SUPP	Overlap

CARD Overweight 20 Positions Relative to SUPP

Symbol	Grade	Weight
TSLA	A	11.83%
F	D	10.52%
GM	A	10.14%
RIVN	F	8.97%
ORLY	A	8.54%
CVNA	B	8.54%
AZO	B	8.54%
KMX	C	4.15%
GPC	D	4.01%
STLA	F	3.91%
LCID	F	3.47%
AAP	F	3.0%
LAD	B	2.29%
AN	C	1.91%
TM	F	1.91%
ABG	B	1.31%
GPI	B	1.26%
FSS	C	0.91%
PAG	C	0.87%
HMC	F	0.78%

CARD Underweight 17 Positions Relative to SUPP

Symbol	Grade	Weight
WCN	D	-9.12%
MLM	B	-7.14%
TSM	C	-6.96%
TDG	B	-6.68%
WSC	D	-6.55%
NVDA	A	-6.19%
VMC	B	-5.41%
PTC	A	-5.24%
TT	B	-4.79%
ETN	B	-4.59%
WM	B	-3.95%
WMS	B	-3.33%
MU	C	-3.26%
CSX	C	-2.45%
LRCX	F	-1.29%
SAIA	B	-1.26%
URI	B	-1.02%

CARD: Top Represented Industries & Keywords

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