BERZ vs. XLC ETF Comparison

Comparison of MicroSectors FANG & Innovation -3x Inverse Leveraged ETN (BERZ) to The Communication Services Select Sector SPDR Fund (XLC)

BERZ

MicroSectors FANG & Innovation -3x Inverse Leveraged ETN

BERZ Description

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 and selecting the 30 largest companies which will then be 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.

Grade (RS Rating)

Last Trade

$14.33

Average Daily Volume

105,192

Number of Holdings ^*

* may have additional holdings in another (foreign) market

XLC

The Communication Services Select Sector SPDR Fund

XLC Description

The investment seeks to correspond generally to the price and yield performance of publicly traded equity securities of companies in the Communication Services Select Sector Index. Normally, the fund generally invests substantially all, but at least 95%, of its total assets in the securities comprising the index. The index includes companies that have been identified as Communication Services companies by the GICS®, including securities of companies from the following industries: diversified telecommunication services; wireless telecommunication services; media; entertainment; and interactive media & services. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$97.09

Average Daily Volume

3,478,311

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	BERZ	XLC
30 Days	-14.14%	6.69%
60 Days	-23.70%	9.54%
90 Days	-27.15%	11.30%
12 Months	-70.21%	37.85%

3 Overlapping Holdings

Symbol	Grade	Weight in BERZ	Weight in XLC	Overlap
GOOGL	C	6.67%	10.97%	6.67%
META	D	6.67%	19.34%	6.67%
NFLX	A	6.67%	6.49%	6.49%

BERZ Overweight 12 Positions Relative to XLC

Symbol	Grade	Weight
TSLA	B	6.67%
CRM	B	6.67%
PANW	B	6.67%
NVDA	B	6.67%
MU	D	6.67%
INTC	C	6.67%
AVGO	D	6.67%
AMZN	C	6.67%
AMD	F	6.67%
ADBE	C	6.67%
AAPL	C	6.67%
MSFT	D	6.67%

BERZ Underweight 19 Positions Relative to XLC

Symbol	Grade	Weight
GOOG	C	-9.07%
TMUS	B	-4.74%
TTWO	A	-4.67%
CHTR	C	-4.63%
DIS	B	-4.49%
EA	A	-4.49%
CMCSA	B	-4.48%
T	A	-4.12%
VZ	C	-3.66%
WBD	B	-3.26%
LYV	A	-3.22%
OMC	C	-3.22%
NWSA	A	-1.76%
IPG	D	-1.74%
FOXA	A	-1.67%
MTCH	D	-1.26%
PARA	C	-1.08%
FOX	A	-0.91%
NWS	A	-0.57%