BERZ vs. FDTX ETF Comparison

Comparison of MicroSectors FANG & Innovation -3x Inverse Leveraged ETN (BERZ) to Fidelity Disruptive Technology ETF (FDTX)

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

$28.50

Average Daily Volume

83,986

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FDTX

Fidelity Disruptive Technology ETF

FDTX Description

The fund normally invests at least 80% of assets in securities of disruptive technology companies. Fidelity's disruptive strategies seek to identify innovative developments that could signal new directions for delivering products and services to customers. Generally, these companies have or are developing new or unconventional ways of doing business that could disrupt and displace incumbents over time. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$31.24

Average Daily Volume

41,247

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	BERZ	FDTX
30 Days	10.47%	-2.22%
60 Days	9.62%	-4.58%
90 Days	-6.25%	0.68%
12 Months	-81.47%

7 Overlapping Holdings

Symbol	Grade	Weight in BERZ	Weight in FDTX	Overlap
ADBE	D	6.67%	3.87%	3.87%
AMZN	A	6.67%	3.93%	3.93%
CRM	D	6.67%	5.43%	5.43%
META	D	6.67%	4.41%	4.41%
MSFT	C	6.67%	5.05%	5.05%
NFLX	D	6.67%	3.93%	3.93%
NVDA	C	6.67%	6.69%	6.67%

BERZ Overweight 8 Positions Relative to FDTX

Symbol	Grade	Weight
TSLA	D	6.67%
QCOM	A	6.67%
MU	B	6.67%
INTC	F	6.67%
GOOGL	A	6.67%
AMD	D	6.67%
AAPL	C	6.67%
AVGO	D	6.67%

BERZ Underweight 2 Positions Relative to FDTX

	Symbol	Grade	Weight
	TSM	C	-5.15%
	GOOG	A	-3.59%