XSD vs. BERZ ETF Comparison

Comparison of SPDR S&P Semiconductor ETF (XSD) to MicroSectors FANG & Innovation -3x Inverse Leveraged ETN (BERZ)

XSD

SPDR S&P Semiconductor ETF

XSD Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index derived from the semiconductor segment of a U.S. total market composite index. In seeking to track the performance of the S&P Semiconductor Select Industry Index (the "index"), the fund employs a replication strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the semiconductors industry group of the S&P Total Market Index ("S&P TMI"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$221.13

Average Daily Volume

42,889

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

$30.31

Average Daily Volume

84,396

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	XSD	BERZ
30 Days	-3.31%	15.91%
60 Days	-4.67%	18.40%
90 Days	5.00%	-0.30%
12 Months	24.53%	-80.22%

6 Overlapping Holdings

Symbol	Grade	Weight in XSD	Weight in BERZ	Overlap
AMD	D	2.16%	6.67%	2.16%
AVGO	D	2.87%	6.67%	2.87%
INTC	F	2.0%	6.67%	2.0%
MU	A	3.29%	6.67%	3.29%
NVDA	C	2.81%	6.67%	2.81%
QCOM	A	2.79%	6.67%	2.79%

XSD Overweight 32 Positions Relative to BERZ

Symbol	Grade	Weight
SMTC	A	4.44%
PI	A	3.81%
FSLR	B	3.15%
MTSI	B	3.13%
DIOD	B	2.96%
MCHP	A	2.94%
TXN	A	2.92%
ADI	A	2.92%
QRVO	F	2.88%
SWKS	F	2.85%
WOLF	F	2.8%
NXPI	B	2.76%
CRUS	D	2.73%
ALGM	B	2.72%
OLED	D	2.69%
LSCC	F	2.68%
RMBS	F	2.66%
SITM	D	2.62%
MPWR	B	2.6%
POWI	D	2.57%
MRVL	C	2.55%
ON	D	2.51%
MXL	D	2.49%
INDI	F	2.39%
SLAB	D	2.37%
SYNA	D	2.34%
CRDO	F	2.33%
AMBA	F	2.26%
SGH	D	2.21%
AOSL	D	0.68%
CEVA	D	0.53%
NVEC	D	0.4%

XSD Underweight 9 Positions Relative to BERZ

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