SPRX vs. FNGS ETF Comparison

Comparison of Spear Alpha ETF (SPRX) to MicroSectors FANG ETNs due January 8, 2038 (FNGS)

SPRX

Spear Alpha ETF

SPRX Description

SPRX invests in companies that are poised to benefit from breakthrough trends in industrial technology. The fund’s objective is to find underappreciated opportunities across different industrial supply chains that are beneficiaries of the secular themes discussed below: Environmental Focus and Decarbonization Manufacturing Digitalization Automation & Robotics Photonics and Additive Manufacturing Space Exploration Artificial Intelligence (AI) SPRX is an actively managed ETF that seeks long-term capital growth by investing in US listed securities (including American depositary receipts "ADRs") of industrial and technology companies relevant to the Fund’s investment themes and the ecosystem around them. SPRX invests in both “growth”, defined as companies with high and underappreciated growth prospects, and “value”, defined as opportunities that are undervalued based on an assessment of the underlying fundamentals.

Grade (RS Rating)

Last Trade

$23.10

Average Daily Volume

67,806

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

$44.95

Average Daily Volume

149,879

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	SPRX	FNGS
30 Days	6.55%	6.49%
60 Days	-0.90%	5.27%
90 Days	-8.37%	5.94%
12 Months	40.66%	51.65%

3 Overlapping Holdings

Symbol	Grade	Weight in SPRX	Weight in FNGS	Overlap
AMD	D	8.36%	10.03%	8.36%
NVDA	B	11.04%	10.66%	10.66%
SNOW	D	7.36%	9.1%	7.36%

SPRX Overweight 20 Positions Relative to FNGS

Symbol	Grade	Weight
ZS	F	9.48%
S	D	6.02%
SHOP	F	5.54%
CEG	B	5.07%
NET	F	5.06%
MRVL	D	4.9%
CFLT	D	4.89%
NRG	B	4.73%
DDOG	D	4.69%
CRWD	C	4.39%
HUBS	D	4.04%
ALB	D	3.09%
FCX	B	2.52%
GTLB	D	2.06%
ANET	A	1.22%
RIVN	F	0.95%
NVT	A	0.87%
PANW	C	0.0%
RIO	B	0.0%
ROK	F	0.0%

SPRX Underweight 7 Positions Relative to FNGS

Symbol	Grade	Weight
META	D	-12.53%
TSLA	D	-11.71%
NFLX	C	-9.65%
AAPL	B	-9.39%
AMZN	C	-9.35%
MSFT	B	-8.84%
GOOGL	B	-8.74%