FNGO vs. ALAI ETF Comparison

Comparison of MicroSectors FANG Index 2X Leveraged ETNs due January 8, 2038 (FNGO) to Alger AI Enablers & Adopters ETF (ALAI)

FNGO

MicroSectors FANG Index 2X Leveraged ETNs due January 8, 2038

FNGO Description

The investment seeks to approximate the returns that might be available to investors through a leveraged ¿long¿ investment in the NYSE FANG+¿ Index (the index). The notes are senior unsecured medium-term notes issued by Bank of Montreal with a return linked to a 2X leveraged participation in the performance of the index, compounded daily, less a Daily Investor Fee, the Daily Financing Charge and, if applicable, the Redemption Fee Amount. 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.

Grade (RS Rating)

Last Trade

$73.60

Average Daily Volume

20,984

Number of Holdings ^*

* may have additional holdings in another (foreign) market

ALAI

Alger AI Enablers & Adopters ETF

ALAI Description

ALAI focuses on equity securities of firms benefiting from artificial intelligence (AI), targeting both AI Enablersthose developing components for and investing in AI infrastructureand AI Adoptersthose integrating AI to enhance their operations. The fund manager employs fundamental research to select securities, considering factors like revenue, resources devoted to AI, and market share estimates. This process assesses a firms involvement with AI and its potential impact on stock performance in the next one to three years. Additionally, ALAI actively seeks companies experiencing Positive Dynamic Change, or those demonstrating high unit volume growth or significant lifecycle shifts. Investments span all market capitalizations, with at least 25% in AI-related industries like technology, retail, and media. The fund may also include foreign securities and hold cash or equivalents during market volatility or when awaiting investment opportunities. ALAI aims to identify firms at the forefront of AI adoption, striving for sustainable long-term growth.

Grade (RS Rating)

Last Trade

$23.64

Average Daily Volume

4,511

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FNGO	ALAI
30 Days	22.96%	15.53%
60 Days	18.48%	15.69%
90 Days	-13.96%	2.10%
12 Months	102.03%

7 Overlapping Holdings

Symbol	Grade	Weight in FNGO	Weight in ALAI	Overlap
AAPL	C	10.49%	7.32%	7.32%
AMZN	C	10.04%	10.18%	10.04%
AVGO	A	8.75%	4.07%	4.07%
META	A	9.57%	6.36%	6.36%
MSFT	D	9.82%	13.68%	9.82%
NFLX	A	9.26%	2.55%	2.55%
NVDA	B	8.72%	11.1%	8.72%

FNGO Overweight 3 Positions Relative to ALAI

Symbol	Grade	Weight
TSLA	C	12.97%
SNOW	F	10.2%
GOOGL	C	10.17%

FNGO Underweight 3 Positions Relative to ALAI

Symbol	Grade	Weight
APP	A	-3.74%
GOOG	C	-3.41%
SPGI	A	-2.4%