CARU vs. DXJ ETF Comparison

Comparison of Bank Of Montreal MAX Auto Industry 3x Leveraged ETN (CARU) to WisdomTree Japan Hedged Equity Fund (DXJ)

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

DXJ

WisdomTree Japan Hedged Equity Fund

DXJ Description

The investment seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Japan Hedged Equity Index. Under normal circumstances, at least 95% of the fund's total assets (exclusive of collateral held from securities lending) will be invested in component securities of the index and investments that have economic characteristics that are substantially identical to the economic characteristics of such component securities. The index is designed to provide exposure to Japanese equity markets while at the same time neutralizing exposure to fluctuations of the Japanese yen relative to the U.S. dollar. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$109.42

Average Daily Volume

525,089

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CARU	DXJ
30 Days	24.25%	1.54%
60 Days	14.37%	3.98%
90 Days	12.53%	3.95%
12 Months	68.00%	24.80%

2 Overlapping Holdings

	Symbol	Grade	Weight in CARU	Weight in DXJ	Overlap
	HMC	F	0.78%	2.71%	0.78%
	TM	F	1.91%	5.19%	1.91%

CARU Overweight 18 Positions Relative to DXJ

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 6 Positions Relative to DXJ

Symbol	Grade	Weight
MUFG	B	-4.7%
SMFG	B	-3.24%
MFG	A	-2.43%
SONY	B	-0.97%
NMR	B	-0.62%
MNTX	B	-0.04%

CARU: Top Represented Industries & Keywords

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