ETF Evaluator:
MicroSectorsTM Ol&Gs E&P -3X Inv Lg ETNs ()
Follow This ETF
(as of Aug 26)
Best Performing in Trading--Inverse Equity Over the Last Year
| 204.3% | T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) |
| 169.7% | Defiance Daily Target 2X Short MSTR ETF (SMST) |
| 53.1% | Direxion Daily NFLX Bear 1X Shares (NFXS) |
| 39.2% | -1x Short VIX Futures ETF (SVIX) |
| 39.1% | GraniteShares 2x Short COIN Daily ETF (CONI) |
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Risk
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ETF Details
MicroSectorsTM Ol&Gs E&P -3X Inv Lg ETNs Overview
MicroSectorsTM Ol&Gs E&P -3X Inv Lg ETNs (OILD) is a passively managed Miscellaneous Trading--Inverse Equity exchange-traded fund (ETF). BMO Capital Markets launched the ETF in 2021.
The investment seeks to reflect a 3x leveraged inverse exposure to the performance of the Solactive MicroSectorsTM Oil & Gas Exploration & Production Index on a daily basis.
The Index is a total return index that tracks the stock prices of large-capitalization companies that are omiciled and listed in the U.S. and that are active in the exploration and production of oil and gas. The notes are unsecured and unsubordinated obligations of Bank of Montreal. Each note will have an initial principal amount of $25. The notes do not bear interest.
About MicroSectorsTM Ol&Gs E&P -3X Inv Lg ETNs (OILD)
There are 1 members of the management team with an average tenure of 4.73 years: No Manager (2021). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Solactive MicroSec O & G Ex&Pro TR USD index with a weighting of -300%. MicroSectorsTM Ol&Gs E&P -3X Inv Lg ETNs has 25 securities in its portfolio. The top 10 holdings constitute 69.1% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
MicroSectorsTM Ol&Gs E&P -3X Inv Lg ETNs is part of the Other global asset class and is within the Miscellaneous ETF group. MicroSectorsTM Ol&Gs E&P -3X Inv Lg ETNs has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 100.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). MicroSectorsTM Ol&Gs E&P -3X Inv Lg ETNs has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $35 million in total assets, which is below the $75 million average for the Trading--Inverse Equity category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
OILD Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The MicroSectorsTM Ol&Gs E&P -3X Inv Lg ETNs expense ratio is high compared to funds in the Trading--Inverse Equity category. MicroSectorsTM Ol&Gs E&P -3X Inv Lg ETNs has an expense ratio of 0.95%, which is 17% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. MicroSectorsTM Ol&Gs E&P -3X Inv Lg ETNs has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 1085% for the Trading--Inverse Equity category.
Recently, in the month of July 2026, MicroSectorsTM Ol&Gs E&P -3X Inv Lg ETNs returned -32.1%, which earned it a grade of F, as the Trading--Inverse Equity category had an average return of 7.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
MicroSectorsTM Ol&Gs E&P -3X Inv Lg ETNs has a trailing yield of 0.00%, which is below the 5.32% category average.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
MicroSectorsTM Ol&Gs E&P -3X Inv Lg ETNs Grades
Year to date, the ETF has returned -64.8%, 38.9 percentage points worse than the category, which translates into a grade of F. The fund has returned -70.6% over the past year (grade of F) and -43.5% over the past three years (grade of D).
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OILD Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| OILD Return (NAV) | -32.1% | -4.6% | -70.6% | -43.5% | na | na |
| OILD Return (Price) | -32.3% | -4.8% | -70.6% | -43.6% | na | na |
| NAV +/- Price Return | 0.259% | 0.252% | -0.009% | 0.051% | na | na |
| Trading--Inverse Equity Avg | 7.3% | -12.0% | -29.4% | -28.2% | -22.9% | -29.6% |
| OILD Grade (NAV) | F | B | F | D | na | na |
| +/- Category (NAV) | -39.4% | 7.4% | -41.2% | -15.4% | na | na |
| OILD Tax-Cost Ratio | na | na | 0.0% | 0.0% | na | na |
OILD Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| OILD Return (NAV) | -64.8% | -41.9% | -14.6% | -19.4% | -90.3% | na | na | na | na | na | na |
| OILD Return (Price) | -64.9% | -41.7% | -14.6% | -19.6% | -90.3% | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.002% | -0.006% | -0.004% | 0.010% | -0.000% | na | na | na | na | na | na |
| Trading--Inverse Equity Avg | -25.8% | -35.3% | -26.4% | -26.2% | 15.2% | -33.5% | -52.3% | -39.8% | 9.5% | -34.8% | -33.2% |
| OILD Grade (NAV) | F | D | C | B | F | na | na | na | na | na | na |
| +/- Category | -38.9% | -6.6% | 11.8% | 6.8% | -105.6% | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.06 |
| R-Squared: | 0% |
| Standard Deviation: | 53.3% |
| Category Risk Index: | 1.38 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 4.34 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 0.0% |
| Total Assets: | $ 36 Mil |
| Share Class Assets: | $ 36 Mil |
| Turnover: | na |
| Expense Ratio: | 0.95% |
| Index Fund: | Yes |
| Index Tracked: | Solactive MicroSec O & G Ex&Pro TR USD |
| Index Weighting: | -300% |
| Leveraged: | Yes |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 4.7 years | |||
| Average Tenure: 4.7 years | |||
| Managers (Year): Manager No (2021) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 25 |
| % in Top 10 Holdings: | 69.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 100.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Legal Structure: | Uncollateralized Debt Instrument |
| Fund Family: | BMO Capital Markets |
| Phone Number: | 877-369-5412 |
| Website: | |
| Inception Date: | November 8, 2021 |
Expenses and Fees
| Expense Ratio (%): | 0.95% (Rating: High) |
| Category Average Expense Ratio (%): | 1.15% |
