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MicroSectors Gold 3X Leveraged ETNsMicroSectors Gold 3X Leveraged ETNsMicroSectors Gold 3X Leveraged ETNs

MicroSectors Gold 3X Leveraged ETNs

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Key stats


Assets under management (AUM)
‪124.02 M‬ USD
Fund flows (1Y)
—
Dividend yield (indicated)
—
Discount/Premium to NAV
—
Shares outstanding
‪1.00 M‬
Expense ratio
0.95%

About MicroSectors Gold 3X Leveraged ETNs


Issuer
Bank of Montreal
Brand
REX Microsectors
Home page
bmoetns.com
Inception date
Feb 21, 2023
Structure
Exchange-Traded Note
Index tracked
LBMA Gold Price PM ($/ozt)
Management style
Passive
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Distributor
State Street Corp. (Fund Distributor)
ISIN
US0636795264
SHNY is an exchange-traded note, a debt obligation of the Bank of Montreal, which provides 3x daily leveraged exposure to the performance of SPDR Gold Shares Trust, with which trades under the ticker GLD. As such, SHNY is not a buy-and-hold product and is best designed for short-term tactical trading purposes only. Returns can vary significantly from 3x exposure to shares of GLD if held for longer than a day. SHNYs underlying fund is the first ETF to invest directly in physical gold. NAV for the underlying fund is determined using the LBMA PM Gold Price (formerly the London PM Gold Fix), which results in an extremely close relationship with spot prices. As a debt obligation, investors are exposed to the credit risk of the bank.

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Classification


Asset Class
Commodities
Category
Precious metals
Focus
Gold
Niche
Physically held
Strategy
Vanilla
Geography
Global
Weighting scheme
Single asset
Selection criteria
Single asset

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Seasonals


Displays a symbol's price movements over previous years to identify recurring trends.

Frequently Asked Questions


An exchange-traded fund (ETF) is a collection of assets (stocks, bonds, commodities, etc.) that track an underlying index and can be bought on an exchange like individual stocks.
SHNY assets under management is ‪124.02 M‬ USD. AUM is an important metric as it reflects the fund's size and can serve as a gauge of how successful the fund is in attracting investors, which, in its turn, can influence decision-making.
Since ETFs work like an individual stock, they can be bought and sold on exchanges (e.g. NASDAQ, NYSE, EURONEXT). As it happens with stocks, you need to select a brokerage to access trading. Explore our list of available brokers to find the one to help execute your strategies. Don't forget to do your research before getting to trading. Explore ETFs metrics in our ETF screener to find a reliable opportunity.
SHNY expense ratio is 0.95%. It's an important metric for helping traders understand the fund's operating costs relative to assets and how expensive it would be to hold the fund.
Yes, SHNY is a leveraged ETF, meaning it uses borrowings or financial derivatives to magnify the performance of the underlying assets or index it follows.
No, SHNY doesn't pay dividends to its holders.
SHNY shares are issued by Bank of Montreal
SHNY follows the LBMA Gold Price PM ($/ozt). ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
The fund started trading on Feb 21, 2023.
The fund's management style is passive, meaning it's aiming to replicate the performance of the underlying index by holding assets in the same proportions as the index. The goal is to match the index's returns.