CARD
MAX Auto Industry -3X Inverse Leveraged ETNs·ARCA
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Key Stats
Assets Under Management
1.56MUSD
Fund Flows (1Y)
1.65MUSD
Dividend Yield
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Discount/Premium to NAV
-0.20%
Shares Outstanding
600.00K
Expense Ratio
0.95%
About MAX Auto Industry -3X Inverse Leveraged ETNs
Issuer
BMO
Brand
Max
Inception Date
Jun 30, 2023
Structure
Exchange-Traded Note
Index Tracked
Prime Auto Industry Index
Management Style
Passive
Dividend Treatment
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Distribution Tax Treatment
No distributions
Income Tax Type
Capital Gains
Max ST Capital Gains Rate
39.60%
Max LT Capital Gains Rate
20.00%
Primary Advisor
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Distributor
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CARD makes a big and bearish one-day bet against the US auto industry. The fund provides 3x daily inverse exposure to a modified liquidity-weighted index that includes firms engaged in automobile manufacturing, automobile parts and retail, and car dealing. The index defines the industries based on the North American Industry Classification System (NAICS) and selects US-listed equities, excluding ETPs. The fund gains its international exposure through the use of ADRs, but will specifically exclude issuers organized in Canada or China. As a geared product, CARD is designed as a short-term trading tool and not a long-term investment vehicle. Long-term returns could materially differ from those of the index due to daily compounding. Since the fund uses an ETN structure, investors assume the credit risk of the issuer.
Classification
Asset Class
Equity
Category
Sector
Focus
Consumer Discretionary
Niche
Automobile Manufacturers
Strategy
Vanilla
Geography
U.S.
Weighting Scheme
Liquidity
Selection Criteria
Market cap
Analysis
Sector
Consumer Cyclical
98.80%
Industrials
1.20%
Consumer Cyclical
98.80%
Industrials
1.20%
Asset
Holdings
No data available
Related Funds
Seasonals
Volume Profile
Trade Flow Insight
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