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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ) has returned 19.74% so far this year and -79.02% over the past 12 months.
MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN
- 1D
- -14.87%
- 1M
- 7.73%
- YTD
- 19.74%
- 6M
- -4.91%
- 1Y
- -79.02%
- 3Y*
- -70.51%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Aug 18, 2021, BERZ's average daily return is -0.20%, while the average monthly return is -4.90%.
Historically, 38% of months were positive and 63% were negative. The best month was Apr 2022 with a return of +73.7%, while the worst month was Jan 2023 at -41.9%. The longest winning streak lasted 3 consecutive months, and the longest losing streak was 7 months.
On a daily basis, BERZ closed higher 45% of trading days. The best single day was Apr 4, 2025 with a return of +22.1%, while the worst single day was Apr 9, 2025 at -44.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -1.94% | 13.35% | 7.73% | 19.74% | |||||||||
| 2025 | -9.42% | 10.15% | 21.20% | -31.03% | -31.36% | -25.33% | -8.22% | -6.29% | -27.44% | -25.21% | 8.99% | -2.58% | -78.81% |
| 2024 | -11.96% | -20.52% | -4.87% | 17.47% | -14.90% | -24.47% | 4.81% | -2.66% | -14.84% | 3.44% | -19.49% | -6.37% | -65.95% |
| 2023 | -41.87% | -4.62% | -33.87% | 6.80% | -34.44% | -20.28% | -16.91% | 2.77% | 18.38% | 0.27% | -35.25% | -18.97% | -89.12% |
| 2022 | 32.35% | 6.03% | -18.69% | 73.66% | -11.77% | 36.18% | -40.04% | 19.87% | 45.24% | -15.01% | -30.40% | 37.98% | 102.85% |
| 2021 | -15.10% | 13.01% | -23.36% | -7.41% | 2.54% | -30.19% |
Benchmark Metrics
MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN has an annualized alpha of -1.67%, beta of -4.80, and R² of 0.81 versus S&P 500 Index. Calculated based on daily prices since August 19, 2021.
- This ETF tended to rise when S&P 500 Index fell (downside capture of -771.87%), but participation in market rallies was also limited (-163.00%) — a profile typical of counter-cyclical assets.
- Beta of -4.80 indicates this ETF moves significantly less than S&P 500 Index — a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- -1.67%
- Beta
- -4.80
- R²
- 0.81
- Upside Capture
- -163.00%
- Downside Capture
- -771.87%
Expense Ratio
BERZ has a high expense ratio of 0.95%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
BERZ ranks 1 for risk / return — in the bottom 1% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ) and compare them to a chosen benchmark (S&P 500 Index).
| BERZ | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.84 | 0.90 | -1.74 |
Sortino ratioReturn per unit of downside risk | -1.52 | 1.39 | -2.90 |
Omega ratioGain probability vs. loss probability | 0.81 | 1.21 | -0.41 |
Calmar ratioReturn relative to maximum drawdown | -0.88 | 1.40 | -2.28 |
Martin ratioReturn relative to average drawdown | -1.00 | 6.61 | -7.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore BERZ risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN was 99.46%, occurring on Jan 13, 2026. The portfolio has not yet recovered.
The current MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN drawdown is 99.28%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -99.46% | Oct 17, 2022 | 813 | Jan 13, 2026 | — | — | — |
| -56.41% | Jun 17, 2022 | 40 | Aug 15, 2022 | 40 | Oct 11, 2022 | 80 |
| -49.8% | Mar 15, 2022 | 11 | Mar 29, 2022 | 19 | Apr 26, 2022 | 30 |
| -38.32% | Oct 5, 2021 | 34 | Nov 19, 2021 | 42 | Jan 21, 2022 | 76 |
| -35.97% | May 12, 2022 | 15 | Jun 2, 2022 | 7 | Jun 13, 2022 | 22 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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