FNGS vs. IGV ETF Comparison

Comparison of MicroSectors FANG ETNs due January 8, 2038 (FNGS) to iShares Expanded Tech-Software Sector ETF (IGV)

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

$53.75

Average Daily Volume

148,076

Number of Holdings ^*

* may have additional holdings in another (foreign) market

IGV

iShares Expanded Tech-Software Sector ETF

IGV Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P North American Technology Software IndexTM (the "underlying index"). The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. The underlying index measures the performance of U.S.-traded stocks of software-related companies in the United States and Canada. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$104.88

Average Daily Volume

3,654,633

Number of Holdings ^*

109

* may have additional holdings in another (foreign) market

Performance

Period	FNGS	IGV
30 Days	4.27%	11.95%
60 Days	8.47%	15.82%
90 Days	11.58%	20.30%
12 Months	49.69%	36.11%

3 Overlapping Holdings

Symbol	Grade	Weight in FNGS	Weight in IGV	Overlap
CRWD	B	10.78%	2.79%	2.79%
MSFT	D	9.7%	7.19%	7.19%
NOW	B	10.11%	7.13%	7.13%

FNGS Overweight 7 Positions Relative to IGV

Symbol	Grade	Weight
AVGO	D	10.17%
META	C	10.02%
AAPL	C	9.93%
AMZN	B	9.87%
NVDA	A	9.83%
GOOGL	B	9.83%
NFLX	A	9.75%

FNGS Underweight 106 Positions Relative to IGV

Symbol	Grade	Weight
CRM	B	-9.42%
ORCL	A	-8.34%
ADBE	D	-6.5%
PANW	A	-4.35%
PLTR	B	-4.17%
INTU	B	-4.13%
SNPS	C	-2.94%
CDNS	B	-2.91%
ADSK	A	-2.31%
APP	B	-2.13%
ROP	C	-2.12%
FTNT	B	-2.1%
WDAY	C	-2.02%
MSTR	B	-2.0%
FICO	A	-1.99%
DDOG	A	-1.43%
TEAM	B	-1.39%
EA	A	-1.38%
HUBS	A	-1.25%
TTWO	A	-1.04%
ANSS	B	-1.04%
TYL	B	-0.92%
PTC	B	-0.8%
ZM	B	-0.76%
ZS	C	-0.68%
NTNX	B	-0.61%
MANH	D	-0.6%
DOCU	B	-0.58%
GWRE	A	-0.57%
GEN	B	-0.57%
DT	D	-0.56%
SNAP	D	-0.4%
IOT	A	-0.36%
BILL	A	-0.3%
S	C	-0.28%
PCOR	C	-0.27%
ESTC	C	-0.27%
SMAR	A	-0.27%
BSY	D	-0.26%
CVLT	A	-0.26%
GTLB	B	-0.25%
CFLT	B	-0.25%
DBX	C	-0.23%
AZPN	A	-0.23%
SPSC	D	-0.23%
MARA	B	-0.22%
ALTR	B	-0.22%
VRNS	D	-0.21%
QTWO	A	-0.21%
CWAN	B	-0.2%
PATH	C	-0.2%
ACIW	B	-0.2%
AUR	C	-0.19%
APPF	C	-0.19%
U	C	-0.19%
QLYS	C	-0.19%
HCP	B	-0.18%
WK	C	-0.17%
CCCS	B	-0.17%
TENB	D	-0.17%
BOX	B	-0.17%
IDCC	B	-0.16%
DLB	B	-0.15%
PEGA	B	-0.14%
NCNO	B	-0.13%
BLKB	C	-0.12%
CLSK	C	-0.12%
ZETA	D	-0.12%
RNG	C	-0.11%
BL	C	-0.11%
RIOT	C	-0.11%
INTA	A	-0.1%
DV	C	-0.1%
TDC	D	-0.1%
PRGS	B	-0.1%
AI	B	-0.1%
FIVN	C	-0.1%
FRSH	C	-0.1%
ALRM	C	-0.1%
YOU	D	-0.09%
VERX	A	-0.09%
RPD	C	-0.09%
ENV	B	-0.09%
AGYS	A	-0.09%
BRZE	C	-0.08%
ALKT	B	-0.08%
PD	C	-0.07%
RAMP	C	-0.07%
VYX	B	-0.07%
AVPT	A	-0.06%
MTTR	B	-0.05%
ZUO	B	-0.05%
SPT	C	-0.05%
VRNT	D	-0.05%
APPN	C	-0.05%
PRO	C	-0.04%
ASAN	C	-0.04%
ATEN	A	-0.04%
ADEA	D	-0.04%
SWI	B	-0.03%
NABL	F	-0.03%
CXM	C	-0.03%
JAMF	F	-0.03%
SEMR	C	-0.02%
MLNK	C	-0.02%
ETWO	F	-0.02%