CLOD vs. FNGS ETF Comparison

Comparison of Themes Cloud Computing ETF (CLOD) to MicroSectors FANG ETNs due January 8, 2038 (FNGS)

CLOD

Themes Cloud Computing ETF

CLOD Description

The index is designed to provide exposure to companies that have business operations in the field of cloud computing based in developed market countries. The fund will invest, under normal circumstances, at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities that comprise the index and in American Depositary Receipts ("ADRs") and Global Depositary Receipts ("GDRs") based on the securities in the index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$31.32

Average Daily Volume

232

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FNGS

MicroSectors FANG ETNs due January 8, 2038

FNGS Description

The investment seeks to link the return to the performance of the gross total return version of the NYSE® FANG+™ Index. The index is an equal-dollar weighted index designed to represent a segment of the technology and consumer discretionary sectors consisting of highly-traded growth stocks of technology and tech-enabled companies. The notes are unsecured and unsubordinated obligations of Bank of Montreal. Each note will have an initial principal amount of $50.

Grade (RS Rating)

Last Trade

$53.91

Average Daily Volume

149,294

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CLOD	FNGS
30 Days	8.80%	4.96%
60 Days	11.72%	8.93%
90 Days	13.78%	8.91%
12 Months		49.34%

5 Overlapping Holdings

Symbol	Grade	Weight in CLOD	Weight in FNGS	Overlap
AMZN	B	4.49%	9.87%	4.49%
CRWD	B	3.51%	10.78%	3.51%
GOOGL	B	4.5%	9.83%	4.5%
MSFT	D	4.02%	9.7%	4.02%
NOW	B	4.59%	10.11%	4.59%

CLOD Overweight 40 Positions Relative to FNGS

Symbol	Grade	Weight
CRM	B	4.81%
INTU	B	4.55%
PANW	B	4.46%
ORCL	A	4.37%
ADBE	D	4.12%
MELI	D	3.85%
SNPS	C	3.7%
CDNS	B	3.62%
ADSK	B	2.92%
APP	A	2.81%
MSTR	A	2.71%
FTNT	B	2.61%
WDAY	C	2.48%
SNOW	C	1.75%
TEAM	A	1.74%
DDOG	A	1.59%
HUBS	B	1.51%
ANSS	B	1.36%
NET	B	1.25%
GDDY	A	1.11%
BAH	D	1.06%
ZM	B	1.02%
MDB	C	0.92%
ZS	B	0.82%
NTNX	B	0.79%
MANH	D	0.79%
GEN	B	0.76%
VRSN	F	0.72%
FFIV	B	0.65%
CHKP	D	0.63%
DT	C	0.62%
AKAM	F	0.61%
CYBR	A	0.58%
CACI	C	0.58%
OKTA	D	0.57%
WIX	A	0.44%
CVLT	B	0.34%
CFLT	B	0.28%
DBX	C	0.27%
IDCC	B	0.21%

CLOD Underweight 5 Positions Relative to FNGS

Symbol	Grade	Weight
AVGO	C	-10.17%
META	C	-10.02%
AAPL	C	-9.93%
NVDA	A	-9.83%
NFLX	A	-9.75%