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About MicroSectors FANG & Innovation -3x Inverse Leveraged ETN
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Inception date
Aug 17, 2021
Structure
Exchange-Traded Note
Distribution tax treatment
No distributions
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
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.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
BERZ assets under management is 4.65 M USD. It's fallen 11.99% over the last month.
BERZ fund flows account for 0.00 USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
No, BERZ doesn't pay dividends to its holders.
BERZ shares are issued by Bank of Montreal under the brand REX Microsectors. The ETF was launched on Aug 17, 2021, and its management style is Passive.
BERZ expense ratio is 0.95% meaning you'd have to pay 0.95% of your investment to help manage the fund.
BERZ follows the Solactive FANG Innovation Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
BERZ price has fallen by −17.88% over the last month, and its yearly performance shows a −69.73% decrease. See more dynamics on BERZ price chart.
NAV returns, another gauge of an ETF dynamics, have fallen by −30.87% over the last month, showed a −53.50% decrease in three-month performance and has decreased by −70.75% in a year.
NAV returns, another gauge of an ETF dynamics, have fallen by −30.87% over the last month, showed a −53.50% decrease in three-month performance and has decreased by −70.75% in a year.
BERZ trades at a premium (0.11%) meaning the ETF is trading at a higher price than the calculated NAV.