IXP vs. FNGS ETF Comparison

Comparison of iShares Global Telecom ETF (IXP) to MicroSectors FANG ETNs due January 8, 2038 (FNGS)

IXP

iShares Global Telecom ETF

IXP Description

The investment seeks to track the investment results of an index composed of global equities in the telecommunications sector. 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. It seeks to track the investment results of the S&P Global 1200 Telecommunications Sector IndexTM, which measures the performance of companies that S&P Dow Jones Indices LLC ("S&P"), deems to be part of the telecommunications sector of the economy and that S&P believes are important to global markets. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$96.30

Average Daily Volume

13,198

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

$54.19

Average Daily Volume

149,362

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	IXP	FNGS
30 Days	2.03%	5.65%
60 Days	7.65%	11.57%
90 Days	9.16%	11.55%
12 Months	35.36%	52.91%

3 Overlapping Holdings

Symbol	Grade	Weight in IXP	Weight in FNGS	Overlap
GOOGL	B	13.12%	9.83%	9.83%
META	B	23.36%	10.02%	10.02%
NFLX	A	4.73%	9.75%	4.73%

IXP Overweight 21 Positions Relative to FNGS

Symbol	Grade	Weight
GOOG	B	10.84%
DIS	B	4.12%
CMCSA	B	3.89%
VZ	C	3.75%
T	A	3.67%
TMUS	A	2.64%
CHTR	B	0.88%
EA	A	0.87%
TTWO	A	0.66%
BIDU	F	0.6%
OMC	B	0.47%
WBD	B	0.47%
LYV	B	0.44%
CHT	C	0.34%
NWSA	B	0.26%
IPG	F	0.26%
FOXA	A	0.23%
MTCH	F	0.18%
PARA	C	0.15%
FOX	A	0.13%
NWS	B	0.08%

IXP Underweight 7 Positions Relative to FNGS

Symbol	Grade	Weight
CRWD	B	-10.78%
AVGO	C	-10.17%
NOW	A	-10.11%
AAPL	C	-9.93%
AMZN	A	-9.87%
NVDA	B	-9.83%
MSFT	C	-9.7%