QQQU vs. FNGS ETF Comparison

Comparison of Direxion Daily Concentrated Qs Bull 2X Shares (QQQU) to MicroSectors FANG ETNs due January 8, 2038 (FNGS)

QQQU

Direxion Daily Concentrated Qs Bull 2X Shares

QQQU Description

QQQU provides daily 2x exposure to an index comprised of the seven leading companies listed on the NASDAQ exchange that meet certain requirements. It will invest in the securities of the index, financial instruments including swap and futures agreements, and ETFs tracking the index, to provide the leveraged exposure consistent with its objective. To be included in the index, the common stocks or ADRs must have a minimum free float equivalent to 10% of shares outstanding, and have a share price of less than $10,000. After an extensive research, the index provider selects the seven leading constituents that forms the index and equally-weights them. The index is rebalanced and reconstituted quarterly. As a leveraged product with 2x factor that resets daily, QQQU is not a buy-and-hold investment and should not be expected to provide index leverage return greater than a one day period.

Grade (RS Rating)

Last Trade

$41.85

Average Daily Volume

25,623

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

$53.53

Average Daily Volume

148,268

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	QQQU	FNGS
30 Days	13.08%	3.60%
60 Days	19.39%	8.16%
90 Days	24.35%	10.26%
12 Months		48.74%

6 Overlapping Holdings

Symbol	Grade	Weight in QQQU	Weight in FNGS	Overlap
AAPL	C	9.56%	9.93%	9.56%
AMZN	C	10.56%	9.87%	9.87%
GOOGL	C	10.26%	9.83%	9.83%
META	D	9.83%	10.02%	9.83%
MSFT	D	9.38%	9.7%	9.38%
NVDA	B	12.1%	9.83%	9.83%

QQQU Overweight 1 Positions Relative to FNGS

	Symbol	Grade	Weight
	TSLA	B	12.49%

QQQU Underweight 4 Positions Relative to FNGS

Symbol	Grade	Weight
CRWD	B	-10.78%
AVGO	D	-10.17%
NOW	A	-10.11%
NFLX	A	-9.75%