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WTIDMicroSectors Energy -3X Inverse Leveraged ETN

Take a bet3y track recordRanked #402 of 775 in this goal

Seeks to provide inverse exposure to the performance of the Index at -3x leverage.

By BMO Capital Markets · Launched 2023

Annual Cost

0.95%

#4,684 of 5,562 · expensive

Fund Size

$15M

#4,535 of 5,562 · small

Return (1Y)Goal

-59.5%

Track Record

3 years

#2,935 of 5,562 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$4,210-57.9%

Total-return NAV, USD. Net of fund fees, before tax.

Classification

How Beacon categorizes this fund

Asset class

Equity

Strategy

Inverse

Sector

Energy

Index tracked

Solactive MicroSectors US Big Oil Index

What it actually holds

By weight

Concentration

Top 10 holdings = 90.2% of fundconcentrated

Chevron CorpCVX
15.2%
Exxon Mobil CorpXOM
14.6%
ConocoPhillipsCOP
11.6%
Occidental Petroleum CorpOXY
9.6%
Valero Energy CorpVLO
8.5%
EOG Resources IncEOG
6.8%
Devon Energy CorpDVN
6.4%
Marathon Petroleum CorpMPC
5.9%
Diamondback Energy IncFANG
5.9%
Phillips 66PSX
5.7%

Asset allocation

Stocks
100.0%

By sector

Energy
100.0%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
67.6%High

Year-on-year price swings

Max drawdown
-90.3%Severe

Worst peak-to-trough loss

Sharpe (3Y)
-0.55Below average
Sortino (3Y)
-0.81Moderate downside risk

Where to buy

Listing

Exchange
NYSE Arca

Full fund details

Objective
Seeks to provide inverse exposure to the performance of the Index at -3x leverage.
Strategy
Invests in financial instruments to achieve -3x inverse exposure to the Index's daily performance. Designed for daily trading, the ETN's returns may differ significantly over longer periods due to compounding effects.
Inception date
February 16, 2023
Fund family
BMO Capital Markets

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Leveraged
Warning

Leveraged ETF — not a long-term hold

This fund uses leverage to amplify daily returns (e.g. 2x or 3x of an index). Daily rebalancing creates volatility decay — over weeks and months, the fund's return drifts from the stated multiple. In trending markets with low realised volatility, leveraged index ETFs can outperform their nominal multiple; in sideways or volatile markets they bleed. Designed for short-term tactical use, not buy-and-hold.

Source: Cheng & Madhavan, 'The Dynamics of Leveraged and Inverse ETFs' (2009)

Why we flagged this: strategy=inverse + leveraged_name_or_strategy

Inverse
Warning

Inverse ETF — daily tool only

Delivers the inverse of the benchmark's daily return. The compounding path makes multi-day holding unpredictable even when the benchmark's total move goes your way. Legitimate as a one-day hedge; dangerous as a view.

Source: Cheng & Madhavan (2009)

Why we flagged this: strategy=inverse + inverse_name_or_strategy

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-06-19