REX Shares LLC on Wednesday rolled out five exchange-traded notes providing leveraged and inverse exposure to an index composed of the 10 U.S. stocks with the largest free-float market capitalization in the oil/energy sector.

The underlying Solactive MicroSectors U.S. Big Oil Index contains the following companies: Anadarko Petroleum, ConocoPhillips, Chevron, EOG Resources, Marathon Petroleum, Occidental Petroleum, Phillips 66, Pioneer Natural Resources, Valero Energy and ExxonMobil.

The following five ETNs provide leveraged exposure to that index ranging from three times bullish to three times bearish:  

• MicroSectors U.S. Big Oil Index 3x Leveraged ETNs (NRGU)

• MicroSectors U.S. Big Oil Index 2x Leveraged ETNs (NRGO)

• MicroSectors U.S. Big Oil Index Inverse ETNs (YGRN)

• MicroSectors U.S. Big Oil Index -2x Inverse Leveraged ETNs (NRGZ)

• MicroSectors U.S. Big Oil Index -3x Inverse Leveraged ETNs (NRGD)

All five ETNs charge an expense ratio of 0.95 percent.

This is the third installment of the MicroSectors product suite that’s a collaboration between REX Shares and the Bank of Montreal, which is the issuer of these ETNs. All follow the same basic format comprising five leveraged and inverse ETNs that track a single index containing 10 companies focused on a single industry. Five products linked to the FANG stocks and other large technology companies launched last August. And five ETNs aimed at big banks were rolled out last week.

ETNs are unsecured debt instruments issued and underwritten by banks or other large financial institutions. The five Big Oil products all have a maturity date of March 25, 2039. That said, leveraged and inverse products are meant to be very short-term trading tools for sophisticated investors.