MicroSectors U.S. Big Oil -3 Inverse Leveraged ETN
NRGD
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- 900 Third Avenue, 31st Floor New York NY United States of America 10022
- IPO Date
- Feb 20, 2025
- CIK
- 0000927971
- Website
- microsectors.com
- Similar Companies
- Business
- MicroSectors U.S. Big Oil -3X Inverse Leveraged ETNs due February 17, 2045 (NYSE Arca: NRGD) are exchange-traded notes issued by Bank of Montreal that provide sophisticated investors with three times leveraged inverse (-3x) daily participation in the performance of the Solactive MicroSectors U.S. Big Oil Index, before fees, expenses, and the daily reset of leverage; the equally weighted index tracks the performance of 10 of the largest U.S.-listed companies by free-float market capitalization in the Upstream Energy, Integrated Oil and Gas Exploration and Production, and Downstream and Midstream Energy sectors, as classified by FactSet RBICS, including such constituents as Exxon Mobil Corp., Chevron Corp., ConocoPhillips, Occidental Petroleum Corp., EOG Resources Inc., Marathon Petroleum Corp., Phillips 66, Valero Energy Corp., Devon Energy Corp., and Diamondback Energy Inc. The ETNs, which mature on February 17, 2045, are traded on the NYSE Arca exchange alongside related products such as the MicroSectors U.S. Big Oil 3X Leveraged ETNs (NRGU); they feature a daily investor fee, potential daily interest adjustments, and early redemption options subject to fees, targeting institutional and retail investors seeking short exposure to the U.S. big oil sector. Bank of Montreal, founded in 1817 and headquartered in Toronto, Ontario, Canada, issues these senior unsecured medium-term notes through its U.S. operations via BMO Capital Markets Corp. as underwriter, operating globally across personal and commercial banking, wealth management, and capital markets segments with a focus on North American energy-related structured products. The ETNs represent a relaunch of prior series under the same ticker, originally introduced on April 9, 2019, with the current iteration issued on February 24, 2025, following the redemption or adjustment of earlier maturities originally due March 25, 2039. Recent major changes include Bank of Montreal's announcement on February 19, 2025, of a partnership with REX Shares to launch leveraged and inverse leveraged ETNs tracking U.S. Big Oil and U.S. Big Banks indices, expanding the MicroSectors product lineup; multiple reverse splits of prior NRGD series, such as 1-for-50 effective April 11, 2022, and others in 2024, to adjust trading denominations without altering aggregate principal amounts. No significant acquisitions, funding rounds, or new product launches specific to NRGD have been reported since the 2025 issuance, though ongoing index rebalancing maintains equal weighting across components monthly, and the ETNs continue trading with approximately 160,000 outstanding units as of late 2025.