SHNY vs. GDX ETF Comparison

Comparison of Bank Of Montreal MicroSectors Gold 3X Leveraged ETNs due January 29, 2043 (SHNY) to Market Vectors Gold Miners ETF (GDX)

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

$46.79

Average Daily Volume

31,524

Number of Holdings ^*

* may have additional holdings in another (foreign) market

GDX

Market Vectors Gold Miners ETF

GDX Description

The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the NYSE Arca Gold Miners Index. The fund normally invests at least 80% of its total assets in common stocks and American depositary receipts of companies involved in the gold mining industry. Such companies may include medium-capitalization companies and foreign issuers. The fund normally invests at least 80% of its total assets in securities that comprise the Gold Miners Index. It may also utilize convertible securities and participation notes to seek performance that corresponds to the Gold Miners Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$40.45

Average Daily Volume

18,300,806

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	SHNY	GDX
30 Days	17.03%	4.74%
60 Days	23.63%	10.88%
90 Days	33.28%	14.65%
12 Months	125.35%	58.19%

0 Overlapping Holdings

	Symbol	Grade	Weight in SHNY	Weight in GDX	Overlap

SHNY Overweight 1 Positions Relative to GDX

	Symbol	Grade	Weight
	GLD	A	100.0%

SHNY Underweight 10 Positions Relative to GDX

Symbol	Grade	Weight
NEM	C	-15.07%
GOLD	C	-8.87%
GFI	C	-3.86%
RGLD	C	-2.75%
HMY	B	-1.89%
HL	C	-1.27%
BVN	D	-1.01%
CDE	C	-0.83%
IAG	C	-0.81%
DRD	C	-0.23%

SHNY: Top Represented Industries & Keywords

Industries:

Keywords: Bullion ETF Equity Exchange Traded Fund Gold Precious Metals

GDX: Top Represented Industries & Keywords

Industries: Gold Industrial Metals & Minerals

Keywords: Mining Gold Copper Gold Mining Molybdenum Silver Mining In The United States Base Metal Bullion Electrical Transmission Harmony Gold Iamgold Lead Metals Precious And Base Metal S&P 500 Silver Smelting Zinc