SMHX vs. BERZ ETF Comparison

Comparison of VanEck Fabless Semiconductor ETF (SMHX) to MicroSectors FANG & Innovation -3x Inverse Leveraged ETN (BERZ)

SMHX

VanEck Fabless Semiconductor ETF

SMHX Description

The fund normally invests at least 80% of its total assets in securities that comprise the fund"s benchmark index. The Fabless Index is composed of U.S.-listed common stocks of companies that derive at least 50% of their revenues from the semiconductor industry and operate as fabless semiconductor companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$27.47

Average Daily Volume

30,347

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	SMHX	BERZ
30 Days	3.55%	-19.93%
60 Days	9.75%	-22.76%
90 Days		-27.71%
12 Months		-70.44%

3 Overlapping Holdings

Symbol	Grade	Weight in SMHX	Weight in BERZ	Overlap
AMD	F	4.13%	6.67%	4.13%
AVGO	D	14.4%	6.67%	6.67%
NVDA	C	22.39%	6.67%	6.67%

SMHX Overweight 18 Positions Relative to BERZ

Symbol	Grade	Weight
SNPS	B	5.08%
MRVL	B	4.87%
CDNS	B	4.6%
QCOM	F	4.39%
ARM	D	3.9%
RMBS	C	3.62%
CRUS	D	2.98%
LSCC	D	2.92%
PI	D	2.72%
MPWR	F	2.57%
POWI	D	2.25%
SLAB	D	1.89%
AMBA	B	1.67%
SIMO	D	1.55%
ALGM	D	1.54%
SITM	B	1.47%
SYNA	C	1.47%
SMTC	B	1.4%

SMHX Underweight 12 Positions Relative to BERZ

Symbol	Grade	Weight
TSLA	B	-6.67%
CRM	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%
ADBE	C	-6.67%
AAPL	C	-6.67%
MSFT	F	-6.67%
META	D	-6.67%