NRGD vs. OILT ETF Comparison

Comparison of MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD) to Texas Capital Texas Oil Index ETF (OILT)

NRGD

MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN

NRGD Description

The investment seeks to reflect a 3x inverse leveraged exposure to the performance of the Solactive MicroSectorsTM U.S. Big Oil Index on a daily basis. The notes are senior unsecured medium-term notes issued by Bank of Montreal with a return linked to a three times leveraged participation in the inverse performance of the index, compounded daily, less a Daily Investor Fee, any negative Daily Interest and, if applicable, the Redemption Fee Amount. The index is an equal-dollar weighted index designed to represent the 10 U.S. listed stocks with the largest market capitalization in the energy/oil sector.

Grade (RS Rating)

Last Trade

$173.69

Average Daily Volume

17,813

Number of Holdings ^*

10

* may have additional holdings in another (foreign) market

OILT

Texas Capital Texas Oil Index ETF

OILT Description

OILT aims to track the performance of an economic-value weighted index of energy companies that extract oil and gas within Texas. Companies in the index must be publicly traded and responsible for more than 0.1% of the annual state oil and gas production of Texas over the past 10 years based on data from the Texas Railroad Commission. The companies are sensitive to the price of West Texas Intermediate crude oil. Global and domestic infrastructure and trading have created efficiencies that have made the US a net exporter of oil and may positively impact the profitability of these companies. The stocks are weighted in the index by the aggregated economic value of oil and gas production of the company and multiplying it by the average oil and gas futures prices from the last day of trading of February in the current and previous year. Outside of extraordinary events, the index is reconstituted annually and rebalanced quarterly.

Grade (RS Rating)

Last Trade

$26.97

Average Daily Volume

1,070

Number of Holdings ^*

25

* may have additional holdings in another (foreign) market

Performance

Period	NRGD	OILT
30 Days	-3.74%	1.42%
60 Days	14.04%	-3.28%
90 Days	39.79%	8.95%
12 Months	-51.65%

6 Overlapping Holdings

	Symbol	Grade	Weight in NRGD	Weight in OILT	Overlap
	COP	D	10.0%	8.19%	8.19%
	CVX	D	10.0%	4.33%	4.33%
	DVN	D	10.0%	4.2%	4.2%
	EOG	D	10.0%	7.67%	7.67%
	OXY	D	10.0%	8.86%	8.86%
	XOM	D	10.0%	8.34%	8.34%

NRGD Overweight 4 Positions Relative to OILT

	Symbol	Grade	Weight
	VLO	D	10.0%
	PXD	B	10.0%
	PSX	D	10.0%
	MPC	D	10.0%

NRGD Underweight 19 Positions Relative to OILT

	Symbol	Grade	Weight
	FANG	B	-8.41%
	APA	F	-4.6%
	OVV	D	-4.23%
	MRO	B	-4.2%
	PR	C	-3.86%
	SM	D	-3.71%
	BP	C	-2.48%
	KMI	B	-2.29%
	CRGY	B	-2.03%
	MGY	B	-1.58%
	MUR	D	-1.55%
	SBOW	B	-1.52%
	CTRA	D	-1.48%
	CRK	D	-1.35%
	CHK	D	-1.35%
	TTE	C	-0.83%
	REI	D	-0.73%
	REPX	C	-0.62%
	MTDR	D	-0.27%

NRGD: Top Represented Industries & Keywords

Industries: Oil & Gas E&P Oil & Gas Refining & Marketing Oil & Gas Integrated

Keywords: S&P 500 Natural Gas Petroleum Industry Natural Gas Liquids Petroleum Crude Oil Midstream Petroleum Products Chemical Natural Gas Processing Plastic Refined Products Commodity Petrochemicals Liquefied Natural Gas Oil And Gas Properties Permian Basin Petrochemical Propane Sulfur Transports Crude Oil

OILT: Top Represented Industries & Keywords

Industries: Oil & Gas E&P Oil & Gas Integrated Oil & Gas Midstream

Keywords: Natural Gas Natural Gas Liquids S&P 500 Crude Oil Petroleum Industry Petroleum Permian Basin Petroleum Products Liquefied Natural Gas Midstream Natural Gas Properties Oil And Gas Properties Abu Dhabi National Oil Company Anadarko Basin Bakken Carbon Dioxide Chemical Chesapeake Energy Commodity Petrochemicals Gas Exploration