BERZ vs. SOXS ETF Comparison

Comparison of MicroSectors FANG & Innovation -3x Inverse Leveraged ETN (BERZ) to Direxion Daily Semiconductor Bear 3x Shares (SOXS)

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

$27.70

Average Daily Volume

85,622

Number of Holdings ^*

* may have additional holdings in another (foreign) market

SOXS

Direxion Daily Semiconductor Bear 3x Shares

SOXS Description

The investment seeks daily investment results, before fees and expenses, of 300% of the inverse of the performance of the PHLX Semiconductor Sector Index. The fund creates short positions by investing at least 80% of its assets in: futures contracts; options on securities, indices and futures contracts; equity caps, floors and collars; swap agreements; forward contracts; short positions; reverse repurchase agreements; ETFs; and other financial instruments that, in combination, provide leveraged and unleveraged exposure to the index. The index measures the performance of the semiconductor subsector of the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$34.13

Average Daily Volume

18,223,176

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	BERZ	SOXS
30 Days	5.00%	4.37%
60 Days	2.21%	8.58%
90 Days	-2.46%	-19.89%
12 Months	-80.21%	-82.19%

6 Overlapping Holdings

Symbol	Grade	Weight in BERZ	Weight in SOXS	Overlap
AMD	D	6.67%	4.66%	4.66%
AVGO	D	6.67%	7.0%	6.67%
INTC	F	6.67%	7.36%	6.67%
MU	B	6.67%	4.35%	4.35%
NVDA	B	6.67%	8.24%	6.67%
QCOM	B	6.67%	8.23%	6.67%

BERZ Overweight 9 Positions Relative to SOXS

Symbol	Grade	Weight
ADBE	F	6.67%
TSLA	D	6.67%
META	D	6.67%
GOOGL	B	6.67%
CRM	D	6.67%
AMZN	A	6.67%
AAPL	B	6.67%
NFLX	C	6.67%
MSFT	D	6.67%

BERZ Underweight 20 Positions Relative to SOXS

Symbol	Grade	Weight
TXN	A	-7.85%
NXPI	A	-4.15%
LRCX	D	-4.14%
TSM	B	-3.95%
AMAT	C	-3.89%
KLAC	B	-3.8%
ADI	A	-3.79%
MCHP	C	-3.53%
ASML	D	-3.0%
SWKS	F	-2.85%
MRVL	D	-2.56%
QRVO	F	-1.8%
TER	A	-1.59%
ON	F	-1.38%
MPWR	B	-1.06%
ENTG	D	-1.02%
MKSI	C	-0.84%
SLAB	D	-0.7%
CRUS	A	-0.66%
SMTC	B	-0.49%