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MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETNMicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETNMicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN

MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN

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Overview
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BERZ chart



Key stats


Assets under management (AUM)
‪8.01 M‬ USD
Fund flows (1Y)
—
Dividend yield (indicated)
—
Discount/Premium to NAV
—
Shares outstanding
‪1.70 M‬
Expense ratio
0.95%

About MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN


Issuer
Bank of Montreal
Brand
REX Microsectors
Home page
microsectors.com
Inception date
Aug 17, 2021
Structure
Exchange-Traded Note
Index tracked
Solactive FANG Innovation Index
Management style
Passive
Distribution tax treatment
No distributions
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
ISIN
US0636794507
BERZ provides daily -3x inverse exposure to an index of FANG and technology companies that meet certain requirements. The fund will consistently comprise eight core components (Alphabet, Amazon, Apple, Facebook, Microsoft, Netflix, NVIDIA, and Tesla) and include seven companies determined through a selection methodology. Eligible securities must be listed on a US exchange, classified in the technology sector, and have a market cap of at least 10 billion USD. Selection will begin with ranking the securities by market cap. The 30 largest companies are selected and then sorted by 12-month average daily value traded. The top seven stocks will complete the index along with the eight core components and are then equally weighted. The index is rebalanced monthly and reconstituted quarterly. As a leveraged inverse product with -3x factor that resets daily, BERZ is not a buy-and-hold investment and should not be expected to provide index leverage return greater than a one day period.

Broaden your horizons with more funds linked to BERZ via country, focus, and more.

Classification


Asset Class
Equity
Category
Sector
Focus
Theme
Niche
Big Tech
Strategy
Equal
Geography
U.S.
Weighting scheme
Equal
Selection criteria
Market cap

BERZ news



Ideas



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Seasonals


Displays a symbol's price movements over previous years to identify recurring trends.

Frequently Asked Questions


An exchange-traded fund (ETF) is a collection of assets (stocks, bonds, commodities, etc.) that track an underlying index and can be bought on an exchange like individual stocks.
BERZ assets under management is ‪8.01 M‬ USD. AUM is an important metric as it reflects the fund's size and can serve as a gauge of how successful the fund is in attracting investors, which, in its turn, can influence decision-making.
Since ETFs work like an individual stock, they can be bought and sold on exchanges (e.g. NASDAQ, NYSE, EURONEXT). As it happens with stocks, you need to select a brokerage to access trading. Explore our list of available brokers to find the one to help execute your strategies. Don't forget to do your research before getting to trading. Explore ETFs metrics in our ETF screener to find a reliable opportunity.
BERZ expense ratio is 0.95%. It's an important metric for helping traders understand the fund's operating costs relative to assets and how expensive it would be to hold the fund.
BERZ is an inverse fund, meaning it's structured to generate returns opposite to the trends of the underlying index or assets.
No, BERZ doesn't pay dividends to its holders.
BERZ shares are issued by Bank of Montreal
BERZ follows the Solactive FANG Innovation Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
The fund started trading on Aug 17, 2021.
The fund's management style is passive, meaning it's aiming to replicate the performance of the underlying index by holding assets in the same proportions as the index. The goal is to match the index's returns.