SHNY vs. DWAT ETF Comparison

Comparison of Bank Of Montreal MicroSectors Gold 3X Leveraged ETNs due January 29, 2043 (SHNY) to Arrow DWA Tactical ETF (DWAT)

SHNY

Bank Of Montreal MicroSectors Gold 3X Leveraged ETNs due January 29, 2043

SHNY Description

The investment seeks daily investment results, before fees and expenses, of 200% of the daily performance of the Solactive Global Silver Miners Index. The fund, under normal circumstances, invests at least 80% of its net assets (plus borrowing for investment purposes) in securities of the index, exchange-traded funds ("ETFs") that track the index and other financial instruments that provide daily leveraged exposure to the index or ETFs that track the index. The index is designed to measure broad based equity market performance of companies involved in the silver mining industry, as defined by Structured Solutions AG. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$45.36

Average Daily Volume

38,488

Number of Holdings ^*

1

* may have additional holdings in another (foreign) market

DWAT

Arrow DWA Tactical ETF

DWAT Description

The investment seeks to achieve long-term capital appreciation with capital preservation as a secondary objective. The fund primarily invests in other exchange traded funds that each invest primarily in domestic and foreign, equity securities of any market capitalization, fixed-income securities of any credit quality, or alternative assets. The fund may invest up to 25% of its total assets in the Tactical Subsidiary. The Tactical Subsidiary will invest primarily in commodity futures, fixed-income securities and cash equivalents, which are intended to serve as margin or collateral for its investments in commodity futures. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$11.90

Average Daily Volume

698

Number of Holdings ^*

5

* may have additional holdings in another (foreign) market

Performance

Period	SHNY	DWAT
30 Days	-10.92%	0.39%
60 Days	0.29%	4.03%
90 Days	11.86%	6.31%
12 Months	76.98%	22.24%

0 Overlapping Holdings

	Symbol	Grade	Weight in SHNY	Weight in DWAT	Overlap

SHNY Overweight 1 Positions Relative to DWAT

	Symbol	Grade	Weight
	GLD	C	100.0%

SHNY Underweight 5 Positions Relative to DWAT

	Symbol	Grade	Weight
	RPV	A	-11.02%
	MTUM	A	-8.91%
	PFM	A	-8.46%
	PHYS	C	-8.24%
	PSLV	D	-7.87%

SHNY: Top Represented Industries & Keywords

Industries:

Keywords: Bullion ETF Equity Exchange Traded Fund Gold Precious Metals

DWAT: Top Represented Industries & Keywords

Industries:

Keywords: ETF Exchange Traded Fund Bullion Mutual Fund Mutual Fund Trust Precious Metals Silver Exchange Traded Product Stock Market Index Capitalization Weighted Index Dividend Exchange Traded Products Index Fund Invesco Powershares MSCI EAFE Msci Us Reit Index Nasdaq Composite Index S&P 500 Index CBOE S&P 500 Publishing & Printing (Sub Ind) Silver Sprott Molybdenum Participation Corporation