QOWZ vs. BERZ ETF Comparison

Comparison of Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ) to MicroSectors FANG & Innovation -3x Inverse Leveraged ETN (BERZ)

QOWZ

Invesco Nasdaq Free Cash Flow Achievers ETF

QOWZ Description

The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. Strictly in accordance with its guidelines and mandated procedures, Nasdaq, Inc. compiles, maintains and calculates the underlying index, which is designed to track the performance of U.S.-listed companies with continuous and stable growth in free cash flow. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$34.34

Average Daily Volume

2,123

Number of Holdings ^*

* may have additional holdings in another (foreign) market

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

$14.22

Average Daily Volume

104,363

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	QOWZ	BERZ
30 Days	5.76%	-19.93%
60 Days	7.75%	-22.76%
90 Days	8.64%	-27.71%
12 Months		-70.44%

5 Overlapping Holdings

Symbol	Grade	Weight in QOWZ	Weight in BERZ	Overlap
ADBE	C	2.88%	6.67%	2.88%
AVGO	D	5.27%	6.67%	5.27%
CRM	B	4.17%	6.67%	4.17%
META	D	6.77%	6.67%	6.67%
NVDA	C	11.37%	6.67%	6.67%

QOWZ Overweight 45 Positions Relative to BERZ

Symbol	Grade	Weight
UNH	C	4.65%
MA	C	4.45%
NOW	A	3.39%
INTU	C	2.93%
TMO	F	2.67%
ADP	B	2.54%
MAR	B	2.24%
CDNS	B	2.22%
CTAS	B	2.22%
FTNT	C	2.15%
APH	A	2.15%
COF	B	2.15%
KMI	A	2.12%
FICO	B	2.07%
RSG	A	1.91%
FAST	B	1.8%
ROP	B	1.78%
PAYX	C	1.76%
KLAC	D	1.75%
WBD	C	1.41%
MCHP	D	1.25%
NVR	D	1.24%
TDY	B	1.24%
PTC	A	1.23%
ROL	B	1.21%
WST	C	1.19%
OC	A	1.14%
MTD	D	1.1%
MKC	D	1.09%
VRSN	F	1.07%
MANH	D	1.07%
POOL	C	0.98%
AYI	B	0.94%
BECN	B	0.79%
RMBS	C	0.73%
QLYS	C	0.72%
WTS	B	0.68%
THO	B	0.67%
LFUS	F	0.63%
CVCO	A	0.62%
PRGS	A	0.54%
TTGT	C	0.32%
RDUS	C	0.27%
SLP	D	0.21%
DLHC	F	0.11%

QOWZ Underweight 10 Positions Relative to BERZ

Symbol	Grade	Weight
TSLA	B	-6.67%
PANW	C	-6.67%
NFLX	A	-6.67%
MU	D	-6.67%
INTC	D	-6.67%
GOOGL	C	-6.67%
AMZN	C	-6.67%
AMD	F	-6.67%
AAPL	C	-6.67%
MSFT	F	-6.67%