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Beacon

JETUMAX Airlines 3X Leveraged ETN

Take a bet3y track recordRanked #788 of 949 in this goal

Seeks daily returns based on the performance of the Prime Airlines Index.

By Bank of Montreal · Launched 2023

Annual Cost

0.95%

#4,882 of 5,861 · expensive

Fund Size

$7M

#5,096 of 5,861 · small

Return (1Y)Goal

+65.2%

Track Record

3 years

#2,962 of 5,861 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$16,915+69.1%

Total-return NAV, USD. Net of fund fees, before tax.

What's inside

How Beacon categorizes this fund

Asset class

Equity

Region

North america

Strategy

Leveraged

Sector

Industrials

Index tracked

Prime Airlines Index

What it actually holds

By weight

Concentration

synthetic exposure — holdings shown are derivatives collateral, not the fund's positions

United Airlines Holdings IncUAL
9.9%
American Airlines Group IncAAL
9.7%
Delta Air Lines IncDAL
9.4%
GE AerospaceGE
9.1%
RTX CorpRTX
8.9%
Boeing CoBA
8.4%
FedEx CorpFDX
8.1%
United Parcel Service Inc Class BUPS
8.1%
Howmet Aerospace IncHWM
7.1%
Southwest Airlines CoLUV
4.4%

Asset allocation

Stocks
100.0%

By sector

Industrials
100.0%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
75.3%High

Year-on-year price swings

Max drawdown
-68.6%Severe

Worst peak-to-trough loss

Sharpe (3Y)
0.43Below average
Sortino (3Y)
0.65Moderate downside risk

Listing

Exchange
NYSE Arca

Full fund details

Objective
Seeks daily returns based on the performance of the Prime Airlines Index.
Strategy
The MAX Airlines 3X Leveraged ETN aims to provide daily returns linked to the Prime Airlines Index, which includes U.S.-listed airline industry companies. Designed for sophisticated investors, it is not a buy-and-hold investment and should be actively monitored.
Inception date
June 20, 2023
Fund family
Bank of Montreal

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Leveraged
Warning

Your return drifts the longer you hold

Leverage amplifies the index's daily move, by 2x or 3x. The fund resets every day, so over weeks and months your real return drifts from that multiple. It can run ahead in a smooth climb and bleed in a choppy one. Hold one for months and you own a different bet than the label suggests.

Sources: Cheng & Madhavan, 'The Dynamics of Leveraged and Inverse ETFs' (2009)

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-08-04