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About Bank Of Montreal MicroSectors U.S. Big Banks -3 Inverse Leveraged ETNs due February 17, 2045
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Inception date
Feb 19, 2025
Structure
Exchange-Traded Note
Distribution tax treatment
Qualified dividends
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
BNKD is an inverse-leveraged take on US Big Banks. Specifically, the fund tracks three times the inverse of the underlying index, which selects the 10 largest qualifying stocks and evenly weights them. Note, however, that the product isnt designed for long-term investors. The fund rebalances daily. As a result, compounding and path dependency make its long-term returns difficult to predict when compared to its underlying index. BNKD is essentially a relaunch of an old ETN that was available from April 2, 2019, to July 24, 2024, with the same ticker and exposure.
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
BNKD assets under management is 3.86 M USD. It's fallen 18.78% over the last month.
BNKD fund flows account for 0.00 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, BNKD doesn't pay dividends to its holders.
BNKD shares are issued by Bank of Montreal under the brand REX Microsectors. The ETF was launched on Feb 19, 2025, and its management style is Passive.
BNKD expense ratio is 2.60% meaning you'd have to pay 2.60% of your investment to help manage the fund.
BNKD follows the Solactive MicroSectors U.S. Big Banks Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
BNKD trades at a premium (0.22%) meaning the ETF is trading at a higher price than the calculated NAV.