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About Bank Of Montreal MAX Airlines -3X Inverse Leveraged ETNs
Expense ratio
0.95%
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Inception date
Jun 21, 2023
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
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| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
Dividends
Dividend payout history