NRGD – MicroSectors US Big Oil-3xInvrsLvrgdETNs – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks to provide three times leveraged inverse participation in the gross total return version of the Solactive MicroSectors™ U.S. Big Oil Index. The ETNs are senior unsecured medium-term notes issued by Bank of Montreal with a return linked to a three times leveraged participation in the inverse performance of the index, compounded daily, minus the Daily Investor Fee and, if applicable, the Redemption Fee Amount plus the Daily Interest (which could be negative).

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
NRGD	MicroSectors U.S. Big Oil -3x Inverse Leveraged ETNs	ETF	Open	—	—	Feb 20, 2025	$13.45M	0.350%	—	—	$26.54M

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