XLCD – MicroSectors -3x Sht CmctnSrvcs(XLC)ETNs – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks to provide three times leveraged inverse participation in the VettaFi U.S. Communications Fund-Tracking Index (the “Index”) from one leverage reset day to the next, before taking into account fees and charges. The index is a total return index that tracks the performance of the State Street® Communication Services Select Sector SPDR® ETF and is designed to provide exposure to the communication services sector of the S&P 500® index through a single fund-tracking vehicle.

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
XLCD	MicroSectors -3x Short Communication Services (XLC) ETNs	ETF	Open	—	—	Sep 9, 2026	$4.94M	0.950%	—	—	—

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