CARDMax Auto Industry -3X Inverse Leveraged ETN
Seeks daily investment results equal to -3x the daily performance of the Prime Auto Industry Index, less a Daily Investor Fee.
By Bank of Montreal · Launched 2023
Annual Cost
0.95%
#5,033 of 6,040 · expensive
Fund Size
$1M
#5,703 of 6,040 · small
Return (1Y)
-10.2%
Track Record
3 years
#2,993 of 6,040 · seasoned
Performance
Total-return NAV · USDGrowth of $10,000
$9,099-9.0%
Total-return NAV, USD. Net of fund fees, before tax.
What's inside
How Beacon categorizes this fundHoldings
By weightConcentration
synthetic exposure — holdings shown are derivatives collateral, not the fund's positions
AutoZone IncAZO
12.2%
Tesla IncTSLA
11.8%
Ford Motor CoF
9.7%
Carvana Co Class ACVNA
8.7%
O'Reilly Automotive IncORLY
7.7%
General Motors CoGM
7.6%
Rivian Automotive Inc Class ARIVN
7.4%
Genuine Parts CoGPC
4.5%
Ferrari NVRACE.MI
4.4%
CarMax IncKMX
3.5%
Asset allocation
Stocks
100.0%
By sector
Consumer Cyclical
97.7%
Industrials
1.3%
Communication
1.0%
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsVolatility (1Y)
72.5%High
Year-on-year price swings
Max drawdown
-93.7%Severe
Worst peak-to-trough loss
Sharpe (3Y)
-0.45Below average
Sortino (3Y)
-0.62Moderate downside risk
Listing
- Exchange
- NYSE Arca
Full fund details
- Objective
- Seeks daily investment results equal to -3x the daily performance of the Prime Auto Industry Index, less a Daily Investor Fee.
- Strategy
- Daily-reset 3x inverse leveraged exposure to U.S.-listed automobile industry companies (manufacturing, parts and retail, new and used car dealers) via the Prime Auto Industry Index. Designed for short-term trading; daily compounding causes returns over periods longer than one day to diverge significantly from -3x the underlying index return.
- Inception date
- June 27, 2023
- Fund family
- Bank of Montreal
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Data updated on 2026-09-18