NRSH vs. CARD ETF Comparison

Comparison of Aztlan North America Nearshoring Stock Selection ETF (NRSH) to Bank Of Montreal MAX Auto Industry -3x Inverse Leveraged ETN (CARD)

NRSH

Aztlan North America Nearshoring Stock Selection ETF

NRSH Description

The initial universe for the index includes companies that, according to GICS classifications, belong to one of the following industries or sub-industries: (a) Industrial REITs, (b) Office REITs, (c) Real Estate Management & Development, (d) Specialized REITs, (e) Ground Transportation, (f) Air Freight & Logistics, (g) Transportation Infrastructure, or (h) Marine Transportation. The fund will invest all, or substantially all, of its assets in the component securities that make up the index. It is non-diversified.

Grade (RS Rating)

Last Trade

$23.33

Average Daily Volume

1,396

Number of Holdings ^*

17

* may have additional holdings in another (foreign) market

CARD

Bank Of Montreal MAX Auto Industry -3x Inverse Leveraged ETN

CARD Description

CARD makes a big and bearish one-day bet against the US auto industry. The fund provides 3x daily inverse 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, CARD 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

$7.21

Average Daily Volume

2,286

Number of Holdings ^*

20

* may have additional holdings in another (foreign) market

Performance

Period	NRSH	CARD
30 Days	4.96%	-33.65%
60 Days	3.37%	-27.31%
90 Days	4.92%	-24.37%
12 Months		-73.66%

0 Overlapping Holdings

	Symbol	Grade	Weight in NRSH	Weight in CARD	Overlap

NRSH Overweight 17 Positions Relative to CARD

	Symbol	Grade	Weight
	CHRW	C	7.5%
	MATX	C	7.29%
	LSTR	D	5.89%
	GXO	B	5.54%
	CSX	B	5.52%
	UNP	C	5.5%
	HUBG	A	5.39%
	SNDR	B	5.35%
	WERN	C	4.99%
	ARCB	C	4.93%
	NSC	B	4.83%
	FWRD	D	4.74%
	CNI	D	4.34%
	KEX	C	4.29%
	ATSG	B	1.39%
	GNK	D	0.97%
	ULH	B	0.55%

NRSH Underweight 20 Positions Relative to CARD

	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	B	-4.15%
	GPC	D	-4.01%
	STLA	F	-3.91%
	LCID	F	-3.47%
	AAP	C	-3.0%
	LAD	A	-2.29%
	AN	C	-1.91%
	TM	D	-1.91%
	ABG	B	-1.31%
	GPI	A	-1.26%
	FSS	B	-0.91%
	PAG	B	-0.87%
	HMC	F	-0.78%

NRSH: Top Represented Industries & Keywords

Industries: Integrated Shipping & Logistics Railroads Trucking Shipping & Ports Airports & Air Services Specialty Business Services

Keywords: Freight Transport Logistics Services Transport Cargo Customs Brokerage Drayage Freight Transportation Logistics Transportation Service Automotive Products Chemical Freight Transportation Services Intermodal Container S&P 500 Apl Logistics Consumer Products Intermodal Services Logistics Solutions Machinery Ocean Transportation

CARD: Top Represented Industries & Keywords

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

Keywords: Transport Cars S&P 500 Automotive Industry Automotive Products Motor Vehicles Automotive Retail Nasdaq 100 Used Car Vehicle Maintenance Alternator Antifreeze Auto Parts Automotive Aftermarket Automotive Retailer Batteries Car Dealership Chassis Electric Vehicle Paint