CARU vs. BBJP ETF Comparison

Comparison of Bank Of Montreal MAX Auto Industry 3x Leveraged ETN (CARU) to JPMorgan BetaBuilders Japan ETF (BBJP)

CARU

Bank Of Montreal MAX Auto Industry 3x Leveraged ETN

CARU Description

CARU is an aggressive and bullish one-day bet on the US auto industry. The fund provides 3x daily leveraged 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, CARU 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

$26.70

Average Daily Volume

139

Number of Holdings ^*

* may have additional holdings in another (foreign) market

BBJP

JPMorgan BetaBuilders Japan ETF

BBJP Description

The investment seeks to provide total return. Under normal circumstances, the fund will invest at least 80% of its assets in bonds. It will invest at least 40% of its assets in countries other than the United States. The fund may invest in developed or emerging markets. It generally invests at least 25% of its assets in securities that, at the time of purchase are rated investment grade or the unrated equivalent. "Assets" means net assets plus the amount of borrowings for investment purposes. The fund may also use currency related transactions involving currency derivatives as part of its primary investment strategy.

Grade (RS Rating)

Last Trade

$55.98

Average Daily Volume

1,225,000

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CARU	BBJP
30 Days	24.25%	-2.43%
60 Days	14.37%	-5.56%
90 Days	12.53%	-4.16%
12 Months	68.00%	11.18%

2 Overlapping Holdings

	Symbol	Grade	Weight in CARU	Weight in BBJP	Overlap
	HMC	F	0.78%	1.06%	0.78%
	TM	F	1.91%	4.9%	1.91%

CARU Overweight 18 Positions Relative to BBJP

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%
STLA	F	3.91%
LCID	F	3.47%
AAP	D	3.0%
LAD	B	2.29%
AN	D	1.91%
ABG	B	1.31%
GPI	B	1.26%
FSS	B	0.91%
PAG	C	0.87%

CARU Underweight 7 Positions Relative to BBJP

Symbol	Grade	Weight
MUFG	B	-3.28%
SONY	B	-2.77%
SMFG	B	-2.22%
MFG	A	-1.38%
NMR	B	-0.42%
AGCO	F	-0.16%
MBAVU	C	-0.1%

CARU: Top Represented Industries & Keywords

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