- ISIN
- US0636795918
- CUSIP
- 63679591
- Issuer
- BMO
- Inception Date
- Aug 17, 2021
- Region
- North America (U.S.)
- Category
- Inverse Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- Solactive FANG Innovation Index
- Distribution Policy
- Accumulating
- Asset Class
- Equity
- Assets Under Management
- $7M
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
BERZ Performance Chart
MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ) is down 58.0% since the beginning of the year. BERZ is currently trading at $24 per share.
Loading charts...
Returns By Period
MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ) has returned -57.95% so far this year and -82.24% over the past 12 months.
MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN
- 1D
- 4.10%
- 1M
- -7.13%
- YTD
- -57.95%
- 6M
- -63.66%
- 1Y
- -82.24%
- 3Y*
- -74.53%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -1.21%
- 1M
- 0.23%
- YTD
- 8.39%
- 6M
- 10.39%
- 1Y
- 24.03%
- 3Y*
- 18.94%
- 5Y*
- 12.24%
- 10Y*
- 13.61%
BERZ Monthly Returns History
Based on dividend-adjusted daily data since Aug 18, 2021, BERZ's average daily return is -0.27%, while the average monthly return is -5.79%.
Historically, 37% 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 Apr 2026 at -50.1%. 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% | -50.13% | -43.41% | 24.43% | -57.95% | ||||||
| 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 | -12.88% | 13.01% | -23.36% | -7.41% | 2.54% | -28.36% |
Benchmark Metrics
MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN has an annualized alpha of -8.12%, beta of -4.82, and R2 of 0.80 versus S&P 500 Index. Calculated based on daily prices since August 18, 2021.
- This ETF tended to rise when S&P 500 Index fell (downside capture of -843.63%), but participation in market rallies was also limited (-157.38%) - a profile typical of counter-cyclical assets.
- This ETF had an annualized alpha of -8.12% versus S&P 500 Index - delivering less than market exposure alone would predict.
- Beta of -4.82 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
- -8.12%
- Beta
- -4.82
- R²
- 0.80
- Upside Capture
- -157.38%
- Downside Capture
- -843.63%
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 S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BERZ | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.97 | ||
| Sortino ratioReturn per unit of downside risk | -5.05 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 1.35 | -0.61 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 2.65 | -3.61 |
| Martin ratioReturn relative to average drawdown | -1.50 | 11.88 | -13.38 |
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.
Loading charts...
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 99.80%, occurring on Jun 1, 2026. The portfolio has not yet recovered.
The current MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN drawdown is 99.75%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -99.80%Jun 2026 | 3y 7mo | — | 3y 8moOct 2022 - now |
Bear market2022 | -56.41%Aug 2022 | 1mo 29d | 1mo 27d | 3mo 26dJun 2022 - Oct 2022 |
Bear market2022 | -49.80%Mar 2022 | 14d | 28d | 1mo 12dMar 2022 - Apr 2022 |
2021 bear market2021 | -38.32%Nov 2021 | 1mo 15d | 2mo 3d | 3mo 18dOct 2021 - Jan 2022 |
Bear market2022 | -35.97%Jun 2022 | 21d | 11d | 1mo 2dMay 2022 - Jun 2022 |
Drawdown Indicators
| BERZ | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.80% | -56.78% | -43.02% |
Max Drawdown (1Y)Largest decline over 1 year | -86.04% | -9.10% | -76.94% |
Max Drawdown (3Y)Largest decline over 3 years | -98.87% | -18.90% | -79.97% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -99.75% | -2.49% | -97.26% |
Average DrawdownAverage peak-to-trough decline | -71.74% | -10.72% | -61.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 54.90% | 2.03% | +52.87% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with BERZ
Add MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with BERZ