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ETFs

MicroSectors Energy -3x Inverse Leveraged ETNs

WTID
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Feb 14 2023
Expense Ratio
0.95%
Type
US Equities
Fund Owner
Bank of Montreal
Volume (1m avg. daily)
$10,308
AUM
$4,804,677
Associated Index
Solactive MicroSectors Energy Index
Inverse/Leveraged
Inverse (-3x)
Passive/Active
Passive
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

Invest with WTID

What is WTID?

The return on the MicroSectors Energy -3X Inverse Leveraged ETNs is linked to a three times inverse leveraged participation in the performance of the Solactive MicroSectors Energy Index, compounded daily, minus the applicable fees. The Index is a total return index that tracks the stock prices of highly liquid U.S. energy and oil companies. The Index is a total return index that measures the performance of 12 highly liquid U.S. stocks from the energy and oil sector.

ETFs related toWTID

ETFs correlated to WTID include NRGD, ERY, OILD

WTID
Bank of Montreal - ZC SP ETN REDEEM 29/01/2043 USD 25 - 06368L403
NRGD
Bank of Montreal - MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETNs
ERY
Direxion Shares ETF Trust - Direxion Daily Energy Bear -2X Shares
OILD
Bank of Montreal - MicroSectors Oil & Gas Exploration & Production -3X Inverse Leveraged
DUG
ProShares Trust - ProShares UltraShort Energy
DRIP
Direxion Shares ETF Trust - Direxion Daily S&P Oil & Gas Exp. & Prod. Bear -3X Shares
EFZ
ProShares Trust - ProShares Short MSCI EAFE -1X Shares
EPV
ProShares Trust - ProShares UltraShort FTSE Europe -2X Shares
TAIL
Cambria Investment Management LP - Cambria Tail Risk ETF
FAZ
Direxion Shares ETF Trust - Direxion Daily Financial Bear 3x Shares
SEF
ProShares Trust - ProShares Short Financials -1x Shares

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

Automated Strategies
Related toWTID

#SPYMIN

SPY minimum drawdown

Category

Community

Risk Rating

Aggressive

Create your own algorithmic trading strategy with WTID using Composer

FAQ

WTID is a US Equities ETF. The return on the MicroSectors Energy -3X Inverse Leveraged ETNs is linked to a three times inverse leveraged participation in the performance of the Solactive MicroSectors Energy Index, compounded daily, minus the applicable fees. The Index is a total return index that tracks the stock prices of highly liquid U.S. energy and oil companies. The Index is a total return index that measures the performance of 12 highly liquid U.S. stocks from the energy and oil sector.

WTID tracks the Solactive MicroSectors Energy Index.

No, WTID is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, WTID is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on WTID is 0.0157%. This is the percent change in the value of WTID over the most recent 1-month period. The 3-month return on WTID is %. This is the percent change in the value of WTID over the most recent 3-month period.

ETFs similar to WTID include WTIU, SSO, and SPXL.

ETFs correlated to WTID include NRGD, ERY, and OILD.

ETFs that are inversely correlated to WTID include XLE, OILU, and NRGU.

Yes, WTID is a Inverse (-3x) ETF: This means that WTID will try to match the performance of Solactive MicroSectors Energy Index, but with 3x the returns.

Yes, WTID is a Inverse (-3x) leveraged ETF: This means that {characteristics.Identifier} will try to match the performance of Solactive MicroSectors Energy Index, but move 3x in the opposite direction.

Disclaimers

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We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.