Key stats
About MAX Airlines -3X Inverse Leveraged ETNs
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Inception date
Jun 21, 2023
Structure
Exchange-Traded Note
Distribution tax treatment
No distributions
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
ISIN
US0636794846
JETD is a bearish bet on the US airport transportation industry. It provides daily (-3x) inverse exposure to an index of firms involved in airlines, aircraft and aircraft parts manufacturers, airfreight and logistics, aircraft leasing, and airline and airport operations. The index defines the industries based on the NAICS and selects US-listed equities, excluding ETPs and MLPs. The index also excludes Canadian and Chinese issuers. For the aircraft and parts manufacturing industry, only the five largest companies are included. Airfreight and logistics companies must disclose in their recent annual report that they own aircraft to execute their core business activity. The index is a modified liquidity-weighted index, which ranks the constituents, based on highest average daily value traded. As a geared product, JETD 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.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
JETD assets under management is 3.29 M USD. It's risen 26.15% over the last month.
JETD fund flows account for 2.60 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
No, JETD doesn't pay dividends to its holders.
JETD shares are issued by Bank of Montreal under the brand Max. The ETF was launched on Jun 21, 2023, and its management style is Passive.
JETD expense ratio is 0.95% meaning you'd have to pay 0.95% of your investment to help manage the fund.
JETD follows the Prime Airlines Index - Benchmark TR Net. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
JETD price has fallen by −23.16% over the last month, and its yearly performance shows a −67.34% decrease. See more dynamics on JETD price chart.
NAV returns, another gauge of an ETF dynamics, have fallen by −14.88% over the last month, showed a −31.55% decrease in three-month performance and has decreased by −70.35% in a year.
NAV returns, another gauge of an ETF dynamics, have fallen by −14.88% over the last month, showed a −31.55% decrease in three-month performance and has decreased by −70.35% in a year.
JETD trades at a premium (0.24%) meaning the ETF is trading at a higher price than the calculated NAV.