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The MicroSectors 3× Long Investment Grade Corporate Bond (LQD) ETNs seek to provide investors with three times leveraged daily exposure to the performance of the VettaFi Investment Grade Corporate Bond Fund-Tracking Index, before fees, expenses, and the effect of daily resets. Returns over periods longer than one day may diverge significantly from three times the return of the index due to compounding and leverage reset mechanics.
The underlying index is a total return index whose sole constituent is the iShares® iBoxx $ Investment Grade Corporate Bond ETF (LQD), which itself seeks to track the iBoxx USD Liquid Investment Grade Index. That index reflects the market-value-weighted performance of U.S.-dollar-denominated, investment-grade corporate debt, subject to a 3 percent cap per issuer.
The product is an exchange-traded note (ETN), issued by the Bank of Montreal, structured as senior unsecured debt, with a maturity date of July 31, 2046. It is intended for short-term, sophisticated investors, designed for daily use rather than long-term buy-and-hold, owing to its leveraged nature and associated risks.
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This share class is accumulating: income is reinvested, and no cash dividends are paid.
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Fair Value is an estimate, and you choose the basis it is built on. Do not invest based on our default without understanding how we calculate it.
