REX Shares has partnered with Bank of Montreal in launching a pair of exchange traded notes to take aggressive up or down positions in the best performing technology names such as those known as “FANG” – Facebook (NasdaqGS: FB), Amazon (NasdaqGS: AMZN), Netflix (NadsaqGS: NFLX) and Alphabet’s Google (NasdaqGS: GOOG).

On Tuesday, REX Shares and the Bank of Montreal rolled out the BMO REX MicroSectors FANG+ Index 3X Leveraged ETNs (NYSEArca: FNGU) and the BMO REX MicroSectors FANG+ Index -3X Inverse Leveraged ETNs (NYSEArca: FNGD), which have a 0.95% expense ratio.

“We are looking forward to working with REX Shares and the NYSE on these new exchange traded notes which offer investors a strategic way to enhance their exposure to highly traded technology companies,” Laurence Kaplan, MD & Head, US Notes, BMO Capital Markets, said in a note. “Through this collaboration, we are able to build and offer novel products that give investors the ability to increase or decrease their exposure depending on their needs.”

The MicroSectors FANG+ Index 3X Leveraged ETNs tries to reflect the performance of the NYSE FANG+ Index on a daily compounded 3x or 300% leveraged basis while the MicroSectors FANG+ Index -3X Inverse Leveraged ETNs follows the same index but on a daily compounded -3x inverse or -300% leveraged basis.

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