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Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E YGRN
It's been a terrible year for those invested in most oil names, and especially those in the SPDR S&P Oil & Gas Exploration & Production ETF (XOP). While the S&P 500 (SPY) has managed to put up a robust double-digit return year-to-date, the SPDR S&P Oil & Gas Exploration & Production ETF is down 16% for the year and will be lucky to finish the year with only a high single-digit loss. This is a massive underperformance of over 20% vs. the major averages, but when an index lags this severely,