SPYU vs. VEGA ETF Comparison

Comparison of Bank Of Montreal MAX S&P 500 4X Leveraged ETNs due October 30, 2043 (SPYU) to AdvisorShares STAR Global Buy-Write ETF (VEGA)

SPYU

Bank Of Montreal MAX S&P 500 4X Leveraged ETNs due October 30, 2043

SPYU Description

The notes are intended to be daily trading tools for sophisticated investors to manage daily trading risks as part of an overall diversified portfolio. They are designed to achieve their stated investment objectives on a daily basis. The notes are designed to reflect a 4x leveraged long exposure to the performance of the index on a daily basis (as described below), before taking into account the negative effect of the Daily Investor Fee, the Daily Financing Charge and the Redemption Fee Amount, if applicable.

Grade (RS Rating)

Last Trade

$51.76

Average Daily Volume

756,121

Number of Holdings ^*

1

* may have additional holdings in another (foreign) market

VEGA

AdvisorShares STAR Global Buy-Write ETF

VEGA Description

The investment seeks consistent repeatable returns across all market cycles. The fund is a "fund of funds" and intends to invest primarily in exchange-traded funds ("ETFs") and exchange-traded notes ("ETNs") that seek to track a diversified basket of global indices and investment sectors that meet certain selection criteria. It also may invest, subject to the same selection criteria, in exchange-traded pooled investment vehicles. The Sub-Advisor seeks to achieve the fund's investment objective by using a proprietary overwrite strategy known as Volatility Enhanced Global Appreciation ("VEGA").

Grade (RS Rating)

Last Trade

$44.30

Average Daily Volume

2,997

Number of Holdings ^*

5

* may have additional holdings in another (foreign) market

Performance

Period	SPYU	VEGA
30 Days	8.68%	0.83%
60 Days	11.94%	0.93%
90 Days	15.42%	1.71%
12 Months		18.93%

0 Overlapping Holdings

	Symbol	Grade	Weight in SPYU	Weight in VEGA	Overlap

SPYU Overweight 1 Positions Relative to VEGA

	Symbol	Grade	Weight
	SPXT	A	100.0%

SPYU Underweight 5 Positions Relative to VEGA

	Symbol	Grade	Weight
	IUSB	C	-21.9%
	IWP	A	-5.93%
	MBB	C	-5.3%
	DYNF	A	-4.45%
	GOVT	D	-3.31%

SPYU: Top Represented Industries & Keywords

Industries:

Keywords: ETF Exchange Traded Fund Index Fund S&P 500 Index CBOE Telecommunication Services

VEGA: Top Represented Industries & Keywords

Industries:

Keywords: ETF Exchange Traded Fund Index Fund Bond Bloomberg Barclays Us Aggregate Bond Index Bond Market Index Fannie Mae Federal Home Loan Mortgage Corporation Federal National Mortgage Association Freddie Mac Fundamentally Based Indexes Government National Mortgage Association High Yield Debt Midcap Money Market Fund Mortgage Backed Security Mortgage Loan Residential Mortgage Backed Security Russell Midcap Growth Total Return Index Russell Midcap Index