Key stats
About Bank Of Montreal MAX S&P 500 4X Leveraged ETNs due October 30, 2043
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Inception date
Dec 5, 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%
SPYU is a leveraged ETN that aims to provide amplified exposure to the US large-cap sector. Its objective is to quadruple the daily performance of the S&P 500 total return index, which encompasses stock prices and dividends from the 500 largest US equity market companies. It’s important to note that investors take on the credit risk of BMO in exchange for the certainty of pure tracking. Unlike traditional investment products, SPYU does not guarantee any return of principal at redemption or maturity. Instead, it strives to generate a return that is four times the daily performance of the underlying index. The leveraged characteristic makes SPYU best suited for short-term trading strategies rather than long-term investments. It’s crucial to consider that the effects of daily compounding can result in deviations of long-term returns from the performance of the index. Before May 28, 2024, the fund traded under the ticker XXXX.
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
SPYU assets under management is 293.08 M USD. It's risen 23.05% over the last month.
SPYU fund flows account for 124.70 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, SPYU doesn't pay dividends to its holders.
SPYU shares are issued by Bank of Montreal under the brand Max. The ETF was launched on Dec 5, 2023, and its management style is Passive.
SPYU expense ratio is 2.95% meaning you'd have to pay 2.95% of your investment to help manage the fund.
SPYU follows the S&P 500. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
SPYU price has risen by 29.20% over the last month, and its yearly performance shows a −1.65% decrease. See more dynamics on SPYU price chart.
NAV returns, another gauge of an ETF dynamics, showed a −21.00% decrease in three-month performance and has decreased by −2.26% in a year.
NAV returns, another gauge of an ETF dynamics, showed a −21.00% decrease in three-month performance and has decreased by −2.26% in a year.
SPYU trades at a premium (0.49%) meaning the ETF is trading at a higher price than the calculated NAV.