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About MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETN
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Inception date
Nov 8, 2021
Structure
Exchange-Traded Note
Distributes
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Tax on distributions
No distributions
OILD makes a big and bearish one-day bet against a concentrated portfolio of US companies in the oil and gas exploration and production industry. The index has a slightly broader scope of the industry as it covers three segments: (i) integrated oil and gas exploration and production, (ii) upstream energy, and (iii) downstream and midstream energy. The index does not include MLPs. It selects the top 25 stocks by market-cap and weights the resulting portfolio by average daily value traded. The following weights are assigned per bucket: 30% for oil and gas exploration and production, 50% for upstream, and 20% for downstream and midstream. As a geared product, OILD is only designed as a short-term trading tool. Long-term returns could materially differ from those of the index due to daily compounding. Additionally, since the fund uses an ETN structure, investors assume the credit risk of the issuer.
Displays a symbol's price movements over previous years to identify recurring trends.