BMO and REX Shares Launch MicroSectors™ 3× Long and -3× Short Communication Services (XLC) and Consumer Staples (XLP) ETNs (Cboe BZX: XLCU, XLCD, XLPU, XLPD)
NEW YORK, Sept. 9, 2026 - Bank of Montreal ("BMO") and REX Shares, LLC ("REX") announced today the launch of the following Exchange Traded Notes ("ETNs") issued by BMO:
The ETNs will start trading tomorrow on the Cboe BZX Exchange, Inc. under the applicable ticker symbol identified above. Each series of ETNs is intended to offer sophisticated investors three times leveraged long or short, as applicable, participation in the daily performance of the relevant index, before taking into account fees, charges and the decay effect caused by the daily resetting of the leverage.
The XLCU ETNs and the XLCD ETNs are linked to the VettaFi US Communications Fund-Tracking Index, a total return index created, sponsored and maintained by VettaFi LLC that tracks the performance of the State Street® Communication Services Select Sector SPDR® ETF (XLC) and is designed to provide exposure to the communication services sector of the S&P 500® Index through a single fund-tracking vehicle. The ticker symbol of the VettaFi US Communications Fund-Tracking Index is "VXLCF."
The XLPU ETNs and the XLPD ETNs are linked to the VettaFi US Consumer Staples Fund-Tracking Index, a total return index created, sponsored and maintained by VettaFi LLC that tracks the performance of the State Street® Consumer Staples Select Sector SPDR® ETF (XLP) and is designed to provide exposure to the consumer staples sector of the S&P 500® Index through a single fund-tracking vehicle. The ticker symbol of the VettaFi US Consumer Staples Fund-Tracking Index is "VXLPF."
The XLCU ETNs, XLCD ETNs, XLPU ETNs and XLPD ETNs further expand the sector coverage of the MicroSectors™ platform and reflect BMO and REX's continued commitment to broadening the range of leveraged daily trading tools available to sophisticated investors. The new ETNs follow a series of recent MicroSectors™ launches spanning semiconductors, high yield and investment grade corporate bonds, Brazilian, Japanese and Taiwanese equities, and the NYSE® MaNGoS+ Index.
Disclosures
The ETNs are not intended to be "buy and hold" investments and are not intended to be held to maturity. Instead, the ETNs are intended to be daily trading tools for sophisticated investors to manage daily trading risks as part of an overall diversified portfolio. The ETNs are designed to reflect a 3× leveraged long or short, as applicable, exposure to the performance of the relevant index on a daily basis, before taking into account the negative effect of the fees and charges. However, as a result of the daily resetting of the leverage, the returns on the ETNs over different periods of time can, and most likely will, differ significantly from three times the return on a direct long or short investment in the relevant index. The ETNs are designed to achieve their stated investment objectives on a daily basis. The performance of the ETNs over different periods of time can differ significantly from their stated daily objectives. The ETNs are considerably riskier than securities that have intermediate- or long-term investment objectives and are not suitable for investors who plan to hold them for a period of more than one day or who have a "buy and hold" strategy. Investors should actively and continuously monitor their investments in the ETNs on an intraday basis, and any decision to hold the ETNs for more than one day should be made with great care and only as the result of a series of daily (or more frequent) investment decisions to remain invested in the ETNs for the next one-day period. The ETNs are very sensitive to changes in the level of the relevant index, and returns on the ETNs may be negatively affected in complex ways by the volatility of the relevant index on a daily or intraday basis. It is possible that investors will suffer significant losses in the ETNs that provide leveraged long exposure even if the long-term performance of the relevant index is positive. Similarly, it is possible that investors will suffer significant losses in the ETNs that provide short leveraged exposure even if the long-term performance of the relevant index is negative. Accordingly, the ETNs should be purchased only by sophisticated investors who understand and can bear the potential risks and consequences of the ETNs that are designed to provide leveraged exposure to the long or short, as applicable, performance of the relevant index on a daily basis and that will be highly volatile and may experience significant losses, up to the entire amount invested, in a short period of time.
For additional information, including a discussion of the risks relating to an investment in the ETNs, please carefully read the applicable pricing supplement and related documents that we have filed with respect to the ETNs (each, an "ETN Prospectus"). Investors should review the relevant ETN Prospectus carefully prior to making an investment decision.
The ETN Prospectus relating to the each series of ETNs can be found on EDGAR, the Securities and Exchange Commission (the "SEC") website at: www.sec.gov, as well as on the product websites at the following links: www.bmoetns.com and www.microsectors.com
Bank of Montreal, the issuer of each series of the ETNs, has filed a registration statement (including a pricing supplement, prospectus supplement and prospectus) with the SEC regarding each of series of the ETNs. Please read those documents and the other documents relating to these securities that Bank of Montreal has filed with the SEC for more complete information about Bank of Montreal and the applicable securities. These documents may be obtained without cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Bank of Montreal, and any agent or dealer that participated in the offering of the ETNs, will arrange to send the applicable pricing supplement, the product supplement (if applicable), the prospectus supplement and the prospectus if so requested by calling toll-free at 1-877-369-5412.
The ETNs are senior, unsecured obligations of BMO, and are subject to BMO's credit risk.
Investment suitability must be determined individually for each investor, and the ETNs are not suitable for all investors. This information is not intended to provide and should not be relied upon as providing accounting, legal, regulatory or tax advice. Investors should consult with their own financial advisors as to these matters.
About REX Shares
REX Shares ("REX") offers a suite of exchange-traded products built for both active traders and long-term investors, spanning income, thematic, and leveraged strategies. Whether making short-term trades, generating income from volatility, or investing in digital assets and emerging themes like drones, REX empowers investors to act on strong market views.
For more information, please visit www.rexshares.com or www.microsectors.com
Follow REX (@REXShares) and MicroSectors (@msectors) on X.
For media inquiries, please contact:
Gregory FCA for REX Shares
About BMO Financial Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of April 30, 2026. Serving clients for more than 200 years, BMO provides a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services across Canada, the United States, and select markets globally. BMO is innovating for business value, by deploying and integrating human, digital and artificial intelligence to personalize client experiences, augment teams, and automate its business responsibly. Driven by its purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and stronger communities.
Bank of Montreal ETNs: US.ETN@bmo.com, +1 (877) 369-5412
Internet: www.bmo.com
MicroSectors™ and REX™ are trademarks of REX. The trademarks have been licensed to BMO for use for certain purposes by REX. The VettaFi High Yield Corporate Bond Fund-Tracking Index and the VettaFi Investment Grade Corporate Bond Fund-Tracking Index are service marks of VettaFi and have been licensed for use by REX and BMO. The ETNs are not sponsored, endorsed, sold or promoted by REX or any of its affiliates or third-party licensors (collectively, "REX Index Parties"). REX Index Parties make no representation or warranty, express or implied, to the owners of the ETNs or any member of the public regarding the advisability of investing in securities generally or in the ETNs particularly or the ability of the indices to track the relevant segments of the corporate bond market.
SOURCE BMO Financial Group
BMO and REX Shares Launch MicroSectors™ 3× Long MANGOS+ ex Private Companies ETNs (NYSE Arca: MNGU)
NEW YORK, August 26, 2026 - Bank of Montreal ("BMO") and REX Shares, LLC ("REX") announced today the launch of the MicroSectors™ 3× Long MANGOS+ ex Private Companies ETNs due July 31, 2046 (the "ETNs") issued by BMO.
The ETNs will start trading tomorrow on the NYSE Arca, Inc. under the ticker symbol "MNGU." The Daily Investor Fee for the ETNs has been waived until, and including, January 31, 2027. Thereafter, the Daily Investor Fee will be based on a rate of 0.95% per annum. See the pricing supplement for more information regarding the fees and charges applicable to the ETNs.
The ETNs are intended to offer sophisticated investors three times leveraged participation in the daily performance of the NYSE® MaNGoS+ Index (the "Index"), before taking into account fees, charges and the decay effect caused by the daily resetting of the leverage. The ETNs are the first exchange-traded products linked to the NYSE® MaNGoS+ Index.
"A small group of AI companies have delivered an outsized impact on economic growth, technological advancement, and equity market performance over the past decade," said Scott Acheychek, COO of REX Shares. "The MNGU ETNs seek to provide investors with focused leveraged exposure to these market leaders while offering the convenience and transparency of the ETN structure."
"AI is quickly becoming one of the defining themes of this generation," said Saurabh Kushwaha, Director, BMO Capital Markets. "By bringing together companies at the forefront of AI infrastructure, foundational models, and digital platforms, the 3× Long MANGOS+ ETNs seek to offer traders a targeted way to participate in the continued evolution of the artificial intelligence ecosystem."
The Index is an equally-weighted equity index designed to track the performance of 10 U.S.-listed companies central to the artificial intelligence ("AI") economy. Under the Index methodology, "MaNGoS" refers to six named anchor companies: Meta Platforms, Inc., Anthropic PBC ("Anthropic"), NVIDIA Corporation, Alphabet Inc. (Google), OpenAI Group PBC ("OpenAI") and Space Exploration Technologies Corp. (SpaceX). The Index includes all publicly listed MaNGoS securities that satisfy the applicable Index eligibility requirements, with the remaining Index Constituent positions filled by qualifying non-MaNGoS securities identified as having a disclosed supply-chain relationship with at least one of the six MaNGoS companies. As of the Index launch date, Anthropic and OpenAI are private companies whose securities are not publicly traded and therefore are not eligible for inclusion in the Index. Under the Index methodology, if Anthropic or OpenAI becomes publicly listed and satisfies the applicable Index eligibility requirements, its security will be added to the Index, with each such addition replacing the non-MaNGoS Index Constituent with the lowest combined rank from the most recent quarterly reconstitution. The ticker symbol of the Index is "MANGOSN."
As of August 25, 2026, the Index Constituents and their respective approximate weightings were as follows:
The Index is a net total return index, in which dividends paid on the applicable securities are included in the level of the Index, less certain withholding taxes that may be applicable to dividends paid by Index Constituents incorporated outside the United States.
Disclosures
Although the title of the ETNs includes "MANGOS+" and the name of the Index includes "MaNGoS+," Anthropic and OpenAI, two of the six MaNGoS companies, are private companies whose securities are not publicly traded and therefore are not initially eligible for inclusion in the Index. Accordingly, the Index does not initially include Anthropic or OpenAI, and the ETNs do not initially provide exposure to either company. Anthropic or OpenAI may never be included in the Index if it does not become publicly listed or, if and when public, does not then otherwise satisfy the other applicable Index eligibility requirements.
The ETNs are not intended to be "buy and hold" investments and are not intended to be held to maturity. Instead, the ETNs are intended to be daily trading tools for sophisticated investors to manage daily trading risks as part of an overall diversified portfolio. The ETNs are designed to reflect a 3× leveraged long exposure to the performance of the Index on a daily basis, before taking into account the negative effect of the fees and charges. However, as a result of the daily resetting of the leverage, the returns on the ETNs over different periods of time can, and most likely will, differ significantly from three times the return on a direct long investment in the Index. The ETNs are designed to achieve their stated investment objectives on a daily basis. The performance of the ETNs over different periods of time can differ significantly from their stated daily objectives. The ETNs are considerably riskier than securities that have intermediate- or long-term investment objectives and are not suitable for investors who plan to hold them for a period of more than one day or who have a "buy and hold" strategy. Investors should actively and continuously monitor their investments in the ETNs on an intraday basis, and any decision to hold the ETNs for more than one day should be made with great care and only as the result of a series of daily (or more frequent) investment decisions to remain invested in the ETNs for the next one-day period. The ETNs are very sensitive to changes in the level of the Index, and returns on the ETNs may be negatively affected in complex ways by the volatility of the Index on a daily or intraday basis. It is possible that investors will suffer significant losses in the ETNs even if the long-term performance of the Index is positive. Accordingly, the ETNs should be purchased only by sophisticated investors who understand and can bear the potential risks and consequences of the ETNs that are designed to provide exposure to the leveraged performance of the Index on a daily basis and that will be highly volatile and may experience significant losses, up to the entire amount invested, in a short period of time.
For additional information, including a discussion of the risks relating to an investment in the ETNs, please carefully read the applicable pricing supplement and related documents that we have filed with respect to the ETNs (each, an "ETN Prospectus"). Investors should review the relevant ETN Prospectus carefully prior to making an investment decision.
The ETN Prospectus relating to the each series of ETNs can be found on EDGAR, the Securities and Exchange Commission (the "SEC") website at: www.sec.gov, as well as on the product websites at the following links: www.bmoetns.com and www.microsectors.com
Bank of Montreal, the issuer of each series of the ETNs, has filed a registration statement (including a pricing supplement, prospectus supplement and prospectus) with the SEC regarding each of series of the ETNs. Please read those documents and the other documents relating to these securities that Bank of Montreal has filed with the SEC for more complete information about Bank of Montreal and the applicable securities. These documents may be obtained without cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Bank of Montreal, and any agent or dealer that participated in the offering of the ETNs, will arrange to send the applicable pricing supplement, the product supplement (if applicable), the prospectus supplement and the prospectus if so requested by calling toll-free at 1-877-369-5412.
The ETNs are senior, unsecured obligations of BMO, and are subject to BMO's credit risk.
Investment suitability must be determined individually for each investor, and the ETNs are not suitable for all investors. This information is not intended to provide and should not be relied upon as providing accounting, legal, regulatory or tax advice. Investors should consult with their own financial advisors as to these matters.
About REX Shares
REX Shares ("REX") offers a suite of exchange-traded products built for both active traders and long-term investors, spanning income, thematic, and leveraged strategies. Whether making short-term trades, generating income from volatility, or investing in digital assets and emerging themes like drones, REX empowers investors to act on strong market views.
For more information, please visit www.rexshares.com or www.microsectors.com
Follow REX (@REXShares) and MicroSectors (@msectors) on X.
For media inquiries, please contact:
Gregory FCA for REX Shares
About BMO Financial Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of April 30, 2026. Serving clients for more than 200 years, BMO provides a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services across Canada, the United States, and select markets globally. BMO is innovating for business value, by deploying and integrating human, digital and artificial intelligence to personalize client experiences, augment teams, and automate its business responsibly. Driven by its purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and stronger communities.
Bank of Montreal ETNs: US.ETN@bmo.com, +1 (877) 369-5412
Internet: www.bmo.com
NYSE® MaNGoS+ Index ("Index") is used with permission. "NYSE®" is a trademark of ICE Data Indices, LLC ("ICE Data") or its affiliates. The trademark has been licensed, along with the Index for use by REX Shares, LLC in connection with MicroSectors™ 3× Long MANGOS+ ex Private Companies ETNs (the "Product"). Neither REX Shares, LLC (the "Licensee") nor the Product, as applicable, are sponsored, endorsed, sold or promoted by ICE Data, its affiliates or its Third Party Suppliers ("ICE Data and its Suppliers"). ICE Data and its Suppliers make no representations or warranties regarding the advisability of investing in securities generally, in the Product particularly, the Licensee or the ability of the Index to track general market performance. Past performance of an index is not an indicator of or a guarantee of future results.
ICE DATA AND ITS SUPPLIERS DISCLAIM ANY AND ALL WARRANTIES AND REPRESENTATIONS, EXPRESS AND/OR IMPLIED, INCLUDING ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, INCLUDING THE INDEX, INDEX DATA AND ANY INFORMATION INCLUDED IN, RELATED TO, OR DERIVED THEREFROM ("INDEX DATA"). ICE DATA AND ITS SUPPLIERS SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY WITH RESPECT TO THE ADEQUACY, ACCURACY, TIMELINESS OR COMPLETENESS OF THE INDEX OR THE INDEX DATA, WHICH ARE PROVIDED ON AN "AS IS" BASIS AND YOUR USE IS AT YOUR OWN RISK.
SOURCE BMO Financial Group
BMO and REX Shares Launch MicroSectors™ 3× Long and -3× Short Brazil, Japan and Taiwan ETNs (Cboe BZX: BRZL, BRZD, JPNU, JPND, TAWN, TPEI)
NEW YORK, August 19, 2026 - Bank of Montreal ("BMO") and REX Shares, LLC ("REX") announced today the launch of the following Exchange Traded Notes ("ETNs") issued by BMO:
The ETNs will start trading tomorrow on the Cboe BZX Exchange, Inc. under the applicable ticker symbol identified above. Each series of ETNs is intended to offer sophisticated investors three times leveraged long or short, as applicable, participation in the daily performance of the relevant index, before taking into account fees, charges and the decay effect caused by the daily resetting of the leverage.
The BRZL ETNs and the BRZD ETNs are linked to the VettaFi Brazil Equity Fund-Tracking Index, a total return index created, sponsored and maintained by VettaFi LLC that tracks the performance of the iShares® MSCI Brazil ETF (EWZ) and is designed to provide exposure to the large- and mid-capitalization segments of the equity market in Brazil through a single fund-tracking vehicle. The ticker symbol of the VettaFi Brazil Equity Fund-Tracking Index is "BRAZIL."
The JPNU ETNs and the JPND ETNs are linked to the VettaFi Japan Equity Fund-Tracking Index, a total return index created, sponsored and maintained by VettaFi LLC that tracks the performance of the iShares® MSCI Japan ETF (EWJ) and is designed to provide exposure to the large- and mid-capitalization segments of the equity market in Japan through a single fund-tracking vehicle. The ticker symbol of the VettaFi Japan Equity Fund-Tracking Index is "JAPAN."
The TAWN ETNs and the TPEI ETNs are linked to the VettaFi Taiwan Equity Fund-Tracking Index, a total return index created, sponsored and maintained by VettaFi LLC that tracks the performance of the iShares® MSCI Taiwan ETF (EWT) and is designed to provide exposure to the large- and mid-capitalization segments of the equity market in Taiwan through a single fund-tracking vehicle. The ticker symbol of the VettaFi Taiwan Equity Fund-Tracking Index is "TAIWAN."
Disclosures
The ETNs are not intended to be "buy and hold" investments and are not intended to be held to maturity. Instead, the ETNs are intended to be daily trading tools for sophisticated investors to manage daily trading risks as part of an overall diversified portfolio. The ETNs are designed to reflect a 3× leveraged long or short, as applicable, exposure to the performance of the relevant index on a daily basis, before taking into account the negative effect of the fees and charges. However, as a result of the daily resetting of the leverage, the returns on the ETNs over different periods of time can, and most likely will, differ significantly from three times the return on a direct long or short investment in the relevant index. The ETNs are designed to achieve their stated investment objectives on a daily basis. The performance of the ETNs over different periods of time can differ significantly from their stated daily objectives. The ETNs are considerably riskier than securities that have intermediate- or long-term investment objectives and are not suitable for investors who plan to hold them for a period of more than one day or who have a "buy and hold" strategy. Investors should actively and continuously monitor their investments in the ETNs on an intraday basis, and any decision to hold the ETNs for more than one day should be made with great care and only as the result of a series of daily (or more frequent) investment decisions to remain invested in the ETNs for the next one-day period. The ETNs are very sensitive to changes in the level of the relevant index, and returns on the ETNs may be negatively affected in complex ways by the volatility of the relevant index on a daily or intraday basis. It is possible that investors will suffer significant losses in the ETNs that provide leveraged long exposure even if the long-term performance of the relevant index is positive. Similarly, it is possible that investors will suffer significant losses in the ETNs that provide short leveraged exposure even if the long-term performance of the relevant index is negative. Accordingly, the ETNs should be purchased only by sophisticated investors who understand and can bear the potential risks and consequences of the ETNs that are designed to provide leveraged exposure to the long or short, as applicable, performance of the relevant index on a daily basis and that will be highly volatile and may experience significant losses, up to the entire amount invested, in a short period of time.
For additional information, including a discussion of the risks relating to an investment in the ETNs, please carefully read the applicable pricing supplement and related documents that we have filed with respect to the ETNs (each, an "ETN Prospectus"). Investors should review the relevant ETN Prospectus carefully prior to making an investment decision.
The ETN Prospectus relating to the each series of ETNs can be found on EDGAR, the Securities and Exchange Commission (the "SEC") website at: www.sec.gov, as well as on the product websites at the following links: www.bmoetns.com and www.microsectors.com
Bank of Montreal, the issuer of each series of the ETNs, has filed a registration statement (including a pricing supplement, prospectus supplement and prospectus) with the SEC regarding each of series of the ETNs. Please read those documents and the other documents relating to these securities that Bank of Montreal has filed with the SEC for more complete information about Bank of Montreal and the applicable securities. These documents may be obtained without cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Bank of Montreal, and any agent or dealer that participated in the offering of the ETNs, will arrange to send the applicable pricing supplement, the product supplement (if applicable), the prospectus supplement and the prospectus if so requested by calling toll-free at 1-877-369-5412.
The ETNs are senior, unsecured obligations of BMO, and are subject to BMO's credit risk.
Investment suitability must be determined individually for each investor, and the ETNs are not suitable for all investors. This information is not intended to provide and should not be relied upon as providing accounting, legal, regulatory or tax advice. Investors should consult with their own financial advisors as to these matters.
About REX Shares
REX Shares ("REX") offers a suite of exchange-traded products built for both active traders and long-term investors, spanning income, thematic, and leveraged strategies. Whether making short-term trades, generating income from volatility, or investing in digital assets and emerging themes like drones, REX empowers investors to act on strong market views.
For more information, please visit www.rexshares.com or www.microsectors.com
Follow REX (@REXShares) and MicroSectors (@msectors) on X.
For media inquiries, please contact:
Gregory FCA for REX Shares
About BMO Financial Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of April 30, 2026. Serving clients for more than 200 years, BMO provides a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services across Canada, the United States, and select markets globally. BMO is innovating for business value, by deploying and integrating human, digital and artificial intelligence to personalize client experiences, augment teams, and automate its business responsibly. Driven by its purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and stronger communities.
Bank of Montreal ETNs: US.ETN@bmo.com, +1 (877) 369-5412
Internet: www.bmo.com
MicroSectors™ and REX™ are trademarks of REX. The trademarks have been licensed to BMO for use for certain purposes by REX. The VettaFi High Yield Corporate Bond Fund-Tracking Index and the VettaFi Investment Grade Corporate Bond Fund-Tracking Index are service marks of VettaFi and have been licensed for use by REX and BMO. The ETNs are not sponsored, endorsed, sold or promoted by REX or any of its affiliates or third-party licensors (collectively, "REX Index Parties"). REX Index Parties make no representation or warranty, express or implied, to the owners of the ETNs or any member of the public regarding the advisability of investing in securities generally or in the ETNs particularly or the ability of the indices to track the relevant segments of the corporate bond market.
SOURCE BMO Financial Group
BMO and REX Shares Launch MicroSectors™ 3× Long and -3× Short High Yield and Investment Grade Corporate Bond ETNs (Cboe BZX: HYGU, HYGD, LQDU, LQDD)
NEW YORK, August 10, 2026 - Bank of Montreal ("BMO") and REX Shares, LLC ("REX") announced today the launch of the following Exchange Traded Notes ("ETNs") issued by BMO:
The ETNs will start trading tomorrow on the Cboe BZX Exchange, Inc. under the applicable ticker symbol identified above. Each series of ETNs is intended to offer sophisticated investors three times leveraged long or short, as applicable, participation in the daily performance of the relevant index, before taking into account fees, charges and the decay effect caused by the daily resetting of the leverage.
The HYGU ETNs and the HYGD ETNs are linked to the VettaFi High Yield Corporate Bond Fund-Tracking Index, a total return index created, sponsored and maintained by VettaFi LLC that tracks the performance of the iShares® iBoxx $ High Yield Corporate Bond ETF (HYG) and is designed to provide exposure to U.S. dollar-denominated high-yield corporate debt through a single fund-tracking vehicle. The ticker symbol of the VettaFi High Yield Corporate Bond Fund-Tracking Index is "VHYGF."
The LQDU ETNs and the LQDD ETNs are linked to the VettaFi Investment Grade Corporate Bond Fund-Tracking Index, a total return index created, sponsored and maintained by VettaFi LLC that tracks the performance of the iShares® iBoxx $ Investment Grade Corporate Bond ETF (LQD) and is designed to provide exposure to U.S. dollar-denominated investment-grade corporate debt through a single fund-tracking vehicle. The ticker symbol of the VettaFi Investment Grade Corporate Bond Fund-Tracking Index is "VLQDF."
The ETNs are the first U.S.-listed exchange-traded products designed to provide 3× leveraged long and short exposure to the daily performance of HYG and LQD, two of the most actively traded U.S.-listed bond ETFs.
Disclosures
The ETNs are not intended to be "buy and hold" investments and are not intended to be held to maturity. Instead, the ETNs are intended to be daily trading tools for sophisticated investors to manage daily trading risks as part of an overall diversified portfolio. The ETNs are designed to reflect a 3× leveraged long or short, as applicable, exposure to the performance of the relevant index on a daily basis, before taking into account the negative effect of the fees and charges. However, as a result of the daily resetting of the leverage, the returns on the ETNs over different periods of time can, and most likely will, differ significantly from three times the return on a direct long or short investment in the relevant index. The ETNs are designed to achieve their stated investment objectives on a daily basis. The performance of the ETNs over different periods of time can differ significantly from their stated daily objectives. The ETNs are considerably riskier than securities that have intermediate- or long-term investment objectives and are not suitable for investors who plan to hold them for a period of more than one day or who have a "buy and hold" strategy. Investors should actively and continuously monitor their investments in the ETNs on an intraday basis, and any decision to hold the ETNs for more than one day should be made with great care and only as the result of a series of daily (or more frequent) investment decisions to remain invested in the ETNs for the next one-day period. The ETNs are very sensitive to changes in the level of the relevant index, and returns on the ETNs may be negatively affected in complex ways by the volatility of the relevant index on a daily or intraday basis. It is possible that investors will suffer significant losses in the ETNs that provide leveraged long exposure even if the long-term performance of the relevant index is positive. Similarly, it is possible that investors will suffer significant losses in the ETNs that provide short leveraged exposure even if the long-term performance of the relevant index is negative. Accordingly, the ETNs should be purchased only by sophisticated investors who understand and can bear the potential risks and consequences of the ETNs that are designed to provide leveraged exposure to the long or short, as applicable, performance of the relevant index on a daily basis and that will be highly volatile and may experience significant losses, up to the entire amount invested, in a short period of time.
For additional information, including a discussion of the risks relating to an investment in the ETNs, please carefully read the applicable pricing supplement and related documents that we have filed with respect to the ETNs (each, an "ETN Prospectus"). Investors should review the relevant ETN Prospectus carefully prior to making an investment decision.
The ETN Prospectus relating to the each series of ETNs can be found on EDGAR, the Securities and Exchange Commission (the "SEC") website at: www.sec.gov, as well as on the product websites at the following links: www.bmoetns.com and www.microsectors.com
Bank of Montreal, the issuer of each series of the ETNs, has filed a registration statement (including a pricing supplement, prospectus supplement and prospectus) with the SEC regarding each of series of the ETNs. Please read those documents and the other documents relating to these securities that Bank of Montreal has filed with the SEC for more complete information about Bank of Montreal and the applicable securities. These documents may be obtained without cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Bank of Montreal, and any agent or dealer that participated in the offering of the ETNs, will arrange to send the applicable pricing supplement, the product supplement (if applicable), the prospectus supplement and the prospectus if so requested by calling toll-free at 1-877-369-5412.
The ETNs are senior, unsecured obligations of BMO, and are subject to BMO's credit risk.
Investment suitability must be determined individually for each investor, and the ETNs are not suitable for all investors. This information is not intended to provide and should not be relied upon as providing accounting, legal, regulatory or tax advice. Investors should consult with their own financial advisors as to these matters.
About REX Shares
REX Shares ("REX") offers a suite of exchange-traded products built for both active traders and long-term investors, spanning income, thematic, and leveraged strategies. Whether making short-term trades, generating income from volatility, or investing in digital assets and emerging themes like drones, REX empowers investors to act on strong market views.
For more information, please visit www.rexshares.com or www.microsectors.com
Follow REX (@REXShares) and MicroSectors (@msectors) on X.
For media inquiries, please contact:
Gregory FCA for REX Shares
About BMO Financial Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of April 30, 2026. Serving clients for more than 200 years, BMO provides a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services across Canada, the United States, and select markets globally. BMO is innovating for business value, by deploying and integrating human, digital and artificial intelligence to personalize client experiences, augment teams, and automate its business responsibly. Driven by its purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and stronger communities.
Bank of Montreal ETNs: US.ETN@bmo.com, +1 (877) 369-5412
Internet: www.bmo.com
MicroSectors™ and REX™ are trademarks of REX. The trademarks have been licensed to BMO for use for certain purposes by REX. The VettaFi High Yield Corporate Bond Fund-Tracking Index and the VettaFi Investment Grade Corporate Bond Fund-Tracking Index are service marks of VettaFi and have been licensed for use by REX and BMO. The ETNs are not sponsored, endorsed, sold or promoted by REX or any of its affiliates or third-party licensors (collectively, "REX Index Parties"). REX Index Parties make no representation or warranty, express or implied, to the owners of the ETNs or any member of the public regarding the advisability of investing in securities generally or in the ETNs particularly or the ability of the indices to track the relevant segments of the corporate bond market.
SOURCE BMO Financial Group
BMO and REX Shares Launch MicroSectors™ 3× Long and -3× Short Semiconductor ETNs (Cboe BZX: SMHU, SMHD)
NEW YORK, August 3, 2026 - Bank of Montreal ("BMO") and REX Shares, LLC ("REX") announced today the launch of the following Exchange Traded Notes ("ETNs") issued by BMO:
The ETNs will start trading tomorrow on the Cboe BZX Exchange, Inc. under the applicable ticker symbol identified above. The Daily Investor Fee for the ETNs has been waived until, and including, January 31, 2027. Thereafter, the Daily Investor Fee will be based on a rate of 0.70% per annum. See the applicable pricing supplement for more information regarding the fees and charges applicable to the ETNs.
Each series of ETNs is intended to offer sophisticated investors three times leveraged long or short, as applicable, participation in the daily performance of the VettaFi Semiconductor Fund-Tracking Index (the "Index"), before taking into account fees, charges and the decay effect caused by the daily resetting of the leverage.
The Index is a total return index created, sponsored and maintained by VettaFi LLC that tracks the performance of the VanEck® Semiconductor ETF and is designed to provide exposure to the largest and most liquid U.S. exchange-listed companies in the semiconductor industry through a single fund-tracking vehicle. The ticker symbol of the Index is "SEMIS."
Disclosures
The ETNs are not intended to be "buy and hold" investments and are not intended to be held to maturity. Instead, the ETNs are intended to be daily trading tools for sophisticated investors to manage daily trading risks as part of an overall diversified portfolio. The ETNs are designed to reflect a 3× leveraged long or short, as applicable, exposure to the performance of the Index on a daily basis, before taking into account the negative effect of the fees and charges. However, as a result of the daily resetting leverage, the returns on the ETNs over different periods of time can, and most likely will, differ significantly from three times the return on a direct long or short investment in the Index. The ETNs are designed to achieve their stated investment objectives on a daily basis. The performance of the ETNs over different periods of time can differ significantly from their stated daily objectives. The ETNs are considerably riskier than securities that have intermediate- or long-term investment objectives and are not suitable for investors who plan to hold them for a period of more than one day or who have a "buy and hold" strategy. Investors should actively and continuously monitor their investments in the ETNs on an intraday basis, and any decision to hold the ETNs for more than one day should be made with great care and only as the result of a series of daily (or more frequent) investment decisions to remain invested in the ETNs for the next one-day period. The ETNs are very sensitive to changes in the level of the Index, and returns on the ETNs may be negatively affected in complex ways by the volatility of the Index on a daily or intraday basis. It is possible that investors will suffer significant losses in the ETNs that provide leveraged long exposure even if the long-term performance of the Index is positive. Similarly, it is possible that investors will suffer significant losses in the ETNs that provide short leveraged exposure even if the long-term performance of the Index is negative. Accordingly, the ETNs should be purchased only by sophisticated investors who understand and can bear the potential risks and consequences of the ETNs that are designed to provide leveraged exposure to the long or short, as applicable, performance of the Index on a daily basis and that will be highly volatile and may experience significant losses, up to the entire amount invested, in a short period of time.
For additional information, including a discussion of the risks relating to an investment in the ETNs, please carefully read the applicable pricing supplement and related documents that we have filed with respect to the ETNs (each, an "ETN Prospectus"). Investors should review the relevant ETN Prospectus carefully prior to making an investment decision.
The ETN Prospectus relating to the each series of ETNs can be found on EDGAR, the Securities and Exchange Commission (the "SEC") website at: www.sec.gov, as well as on the product websites at the following links: www.bmoetns.com and www.microsectors.com
Bank of Montreal, the issuer of each series of the ETNs, has filed a registration statement (including a pricing supplement, prospectus supplement and prospectus) with the SEC regarding each of series of the ETNs. Please read those documents and the other documents relating to these securities that Bank of Montreal has filed with the SEC for more complete information about Bank of Montreal and the applicable securities. These documents may be obtained without cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Bank of Montreal, and any agent or dealer that participated in the offering of the ETNs, will arrange to send the applicable pricing supplement, the product supplement (if applicable), the prospectus supplement and the prospectus if so requested by calling toll-free at 1-877-369-5412.
The ETNs are senior, unsecured obligations of BMO, and are subject to BMO's credit risk.
Investment suitability must be determined individually for each investor, and the ETNs are not suitable for all investors. This information is not intended to provide and should not be relied upon as providing accounting, legal, regulatory or tax advice. Investors should consult with their own financial advisors as to these matters.
About REX Shares
REX Shares ("REX") offers a suite of exchange-traded products built for both active traders and long-term investors, spanning income, thematic, and leveraged strategies. Whether making short-term trades, generating income from volatility, or investing in digital assets and emerging themes like drones, REX empowers investors to act on strong market views.
For more information, please visit www.rexshares.com or www.microsectors.com
Follow REX (@REXShares) and MicroSectors (@msectors) on X.
For media inquiries, please contact:
Gregory FCA for REX Shares
About BMO Financial Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of April 30, 2026. Serving clients for more than 200 years, BMO provides a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services across Canada, the United States, and select markets globally. BMO is innovating for business value, by deploying and integrating human, digital and artificial intelligence to personalize client experiences, augment teams, and automate its business responsibly. Driven by its purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and stronger communities.
Bank of Montreal ETNs: US.ETN@bmo.com, +1 (877) 369-5412
Internet: www.bmo.com
MicroSectors™ and REX™ are trademarks of REX. The trademarks have been licensed to BMO for use for certain purposes by REX. The VettaFi Semiconductor Fund-Tracking Index is a service mark of VettaFi and has been licensed for use by REX and BMO. The ETNs are not sponsored, endorsed, sold or promoted by REX or any of its affiliates or third-party licensors (collectively, "REX Index Parties"). REX Index Parties make no representation or warranty, express or implied, to the owners of the ETNs or any member of the public regarding the advisability of investing in securities generally or in the ETNs particularly or the ability of the Index to track general stock market performance.
SOURCE BMO Financial Group
BMO and REX Shares Launch MicroSectors™ 3× Long and -3× Short Artificial Intelligence (AI) ETNs (NYSE Arca: AIQU, AIQD)
NEW YORK, June 2, 2026 - Bank of Montreal ("BMO") and REX Shares, LLC ("REX") announced today the launch of the following Exchange Traded Notes ("ETNs") issued by BMO:
The ETNs will start trading tomorrow on the NYSE Arca, Inc. under the applicable ticker symbol identified above. Each series of ETNs is intended to offer sophisticated investors three times leveraged long or short, as applicable, participation in the daily performance of the BITA AI Leaders Select NTR US Index (the "Index"), before taking into account fees, charges and the decay effect caused by the daily resetting of the leverage.
The Index is an equity index created, sponsored and maintained by BITA GmbH (the "Index Sponsor") that is designed to track the performance of 25 U.S.-listed companies involved in artificial intelligence ("AI") technologies from both an application and infrastructure perspective. The Index includes "Purity Leaders," which are companies that the Index Sponsor determines have high relative revenue exposure to AI products, services and activities, and "Key Enablers," which are larger, more diversified companies that the Index Sponsor considers to be key direct enablers of the business application of AI technologies. The Index is a net total return index, in which dividends paid on the applicable securities are included in the level of the Index, less certain withholding taxes that may be applicable to dividends paid by Index Constituents incorporated outside the United States. The ticker symbol of the Index is "BAILSN". Although the name of the Index refers to "AI," the Index is not limited to companies whose primary business is artificial intelligence, and the Index allocates significant weight to larger, diversified technology companies that are considered by the Index Sponsor to enable the development, deployment or business application of AI technologies.
Disclosures
The ETNs are not intended to be "buy and hold" investments and are not intended to be held to maturity. Instead, the ETNs are intended to be daily trading tools for sophisticated investors to manage daily trading risks as part of an overall diversified portfolio. The ETNs are designed to reflect a 3× leveraged long or short, as applicable, exposure to the performance of the Index on a daily basis, before taking into account the negative effect of the fees and charges. However, as a result of the daily resetting leverage, the returns on the ETNs over different periods of time can, and most likely will, differ significantly from three times the return on a direct long or short investment in the Index. The ETNs are designed to achieve their stated investment objectives on a daily basis. The performance of the ETNs over different periods of time can differ significantly from their stated daily objectives. The ETNs are considerably riskier than securities that have intermediate- or long-term investment objectives and are not suitable for investors who plan to hold them for a period of more than one day or who have a "buy and hold" strategy. Investors should actively and continuously monitor their investments in the ETNs on an intraday basis, and any decision to hold the ETNs for more than one day should be made with great care and only as the result of a series of daily (or more frequent) investment decisions to remain invested in the ETNs for the next one-day period. The ETNs are very sensitive to changes in the level of the Index, and returns on the ETNs may be negatively affected in complex ways by the volatility of the Index on a daily or intraday basis. It is possible that investors will suffer significant losses in the ETNs that provide leveraged long exposure even if the long-term performance of the Index is positive. Similarly, it is possible that investors will suffer significant losses in the ETNs that provide short leveraged exposure even if the long-term performance of the Index is negative. Accordingly, the ETNs should be purchased only by sophisticated investors who understand and can bear the potential risks and consequences of the ETNs that are designed to provide leveraged exposure to the long or short, as applicable, performance of the Index on a daily basis and that will be highly volatile and may experience significant losses, up to the entire amount invested, in a short period of time.
For additional information, including a discussion of the risks relating to an investment in the ETNs, please carefully read the applicable pricing supplement and related documents that we have filed with respect to the ETNs (each, an "ETN Prospectus"). Investors should review the relevant ETN Prospectus carefully prior to making an investment decision.
The ETN Prospectus relating to the each series of ETNs can be found on EDGAR, the Securities and Exchange Commission (the "SEC") website at: www.sec.gov, as well as on the product websites at the following links: www.bmoetns.com and www.microsectors.com
Bank of Montreal, the issuer of each series of the ETNs, has filed a registration statement (including a pricing supplement, prospectus supplement and prospectus) with the SEC regarding each of series of the ETNs. Please read those documents and the other documents relating to these securities that Bank of Montreal has filed with the SEC for more complete information about Bank of Montreal and the applicable securities. These documents may be obtained without cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Bank of Montreal, and any agent or dealer that participated in the offering of the ETNs, will arrange to send the applicable pricing supplement, the product supplement (if applicable), the prospectus supplement and the prospectus if so requested by calling toll-free at 1-877-369-5412.
The ETNs are senior, unsecured obligations of BMO, and are subject to BMO's credit risk.
Investment suitability must be determined individually for each investor, and the ETNs are not suitable for all investors. This information is not intended to provide and should not be relied upon as providing accounting, legal, regulatory or tax advice. Investors should consult with their own financial advisors as to these matters.
About REX Shares
REX Shares ("REX") is a leading provider of innovative exchange-traded products (ETPs), specializing in alternative strategy ETFs and ETNs. With over $8 billion in assets under management, REX is known for pioneering the MicroSectors™ and T-REX product lines, offering leveraged and inverse exposure to a variety of market sectors. REX also provides a number of services for its crypto-focused sister company, Osprey Funds, LLC. REX continues to drive industry innovation through its growing suite of ETPs, serving investors seeking sophisticated trading tools, income strategies, and other alternative exposures.
For more information, please visit www.rexshares.com or www.microsectors.com
Follow REX (@REXShares) and MicroSectors (@msectors) on X.
For media inquiries, please contact:
Gregory FCA for REX Shares
About BMO Financial Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of April 30, 2026. Serving clients for more than 200 years, BMO provides a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services across Canada, the United States, and select markets globally. BMO is innovating for business value, by deploying and integrating human, digital and artificial intelligence to personalize client experiences, augment teams, and automate its business responsibly. Driven by its purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and stronger communities.
Bank of Montreal ETNs: US.ETN@bmo.com, +1 (877) 369-5412
Internet: www.bmo.com
BITA is the licensor of the Index. The ETNs that are based on the Index are not sponsored, endorsed, promoted or sold by BITA and BITA makes no express or implied representation, guarantee or assurance with regard to: (a) the advisability in investing in the ETNs; (b) the quality, accuracy and/or completeness of the Index; and/or (c) the results obtained or to be obtained by any person or entity from the use of the Index. BITA does not guarantee the accuracy and/or the completeness of the Index and shall not have any liability for any errors or omissions with respect thereto.
Notwithstanding BITA's obligations to its licensees, BITA reserves the right to change the methods of calculation or publication and BITA shall not be liable for any miscalculation of or any incorrect, delayed or interrupted publication with respect to the Index. BITA shall not be liable for any damages, including, without limitation, any loss of profits or business, or any special, incidental, punitive, indirect or consequential damages suffered or incurred as a result of the use (or inability to use) of the Index.
MicroSectors™ and REX™ are trademarks of REX. The trademarks have been licensed for use for certain purposes by REX. The Index has been licensed for use by REX. The ETNs are not sponsored, endorsed, sold or promoted by REX or any of its affiliates or third party licensors (collectively, "REX Index Parties"). REX Index Parties make no representation or warranty, express or implied, to the owners of the ETNs or any member of the public regarding the advisability of investing in securities generally or in the ETNs particularly or the ability of the Index to track general stock market performance.
SOURCE BMO Financial Group
BMO Announces Upcoming Increase to the Financing Spread for its MicroSectors™ Gold Miners 3X Leveraged ETNs (NYSE Arca: GDXU)
Jan. 30, 2026 - Bank of Montreal ("BMO") today announced that pursuant to the terms of BMO's MicroSectors™ Gold Miners 3X Leveraged Exchange Traded Notes due June 29, 2040 (the "ETNs"), BMO Capital Markets Corp., the Calculation Agent of the ETNs, is electing to exercise its right to increase the Financing Spread for the ETNs. Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the ETN Prospectus (as defined below) for the ETNs.
It is expected that effective as of February 6, 2026 (the "Fee Effective Date"), the Financing Spread will be increased as follows:
The closing Indicative Note Value of the ETNs reflect the daily deduction of a Daily Financing Charge and the other fees and charges described in the ETN Prospectus. The Daily Financing Charge is based on the Federal Reserve Bank Prime Loan Rate, plus the Financing Spread. Therefore, given that the Financing Spread is increasing, the Daily Financing Charge will also increase. As a result, the return on investor's ETNs will be adversely affected.
Holders of the ETNs may choose to continue to hold their ETNs, or they may choose to elect to require BMO to redeem their ETNs, in accordance with the terms of the ETNs, or sell their ETNs in the secondary market. As disclosed in the ETN Prospectus for the ETNs, the Minimum Redemption Amount will not be applicable for any redemption validly elected on or after the date of this announcement to and including the Fee Effective Date. Outside of this period, holders of the ETNs are required to redeem at least 25,000 ETNs at one time in order to exercise their right to require BMO to redeem them.
Disclosures
The issuance of this notice of the election to increase the Financing Spread may adversely impact your ability to sell the ETNs and/or will likely adversely impact the price at which investors may be able to sell their ETNs.
The ETNs are not intended to be "buy and hold" investments, and are not intended to be held to maturity. Instead, the ETNs are intended to be daily trading tools for sophisticated investors to manage daily trading risks as part of an overall diversified portfolio. The ETNs are designed to reflect a 3x leveraged long exposure to the performance of the S-Network MicroSectors™ Gold Miners Index (the "Index") on a daily basis, before taking into account the negative effect of the fees and charges. However, as a result of the daily resetting leverage, the returns on the ETNs over different periods of time can, and most likely will, differ significantly from three times the return on a direct long investment in the Index. The ETNs are designed to achieve their stated investment objectives on a daily basis. The performance of the ETNs over different periods of time can differ significantly from their stated daily objectives. The ETNs are considerably riskier than securities that have intermediate- or long-term investment objectives, and are not suitable for investors who plan to hold them for a period of more than one day or who have a "buy and hold" strategy. Investors should actively and continuously monitor their investments in the ETNs on an intra-day basis, and any decision to hold the ETNs for more than one day should be made with great care and only as the result of a series of daily (or more frequent) investment decisions to remain invested in the ETNs for the next one-day period. The ETNs are very sensitive to changes in the level of the Index, and returns on the ETNs may be negatively affected in complex ways by the volatility of the Index on a daily or intra-day basis. It is possible that investors will suffer significant losses in the ETNs even if the long-term performance of the Index is positive. Accordingly, the ETNs should be purchased only by sophisticated investors who understand and can bear the potential risks and consequences of the ETNs that are designed to provide exposure to the leveraged performance of the Index on a daily basis and that will be highly volatile and may experience significant losses, up to the entire amount invested, in a short period of time.
For additional information, including a discussion of the risks relating to an investment in the ETNs, please carefully read the pricing supplement and related documents that we have filed with respect to the ETNs (collectively, the "ETN Prospectus"). Investors should review the ETN Prospectus carefully prior to making an investment decision.
The ETN Prospectus can be found on EDGAR, the Securities and Exchange Commission (the "SEC") website at: www.sec.gov, as well as on the product websites at the following links: www.bmoetns.com and www.microsectors.com
Bank of Montreal, the issuer of the ETNs, has filed a registration statement (including a pricing supplement, product supplement, prospectus supplement and prospectus) with the SEC regarding the ETNs. Please read those documents and the other documents relating to this offering that Bank of Montreal has filed with the SEC for more complete information about Bank of Montreal and this offering. These documents may be obtained without cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Bank of Montreal, and any agent or dealer that participated in the offering of the ETNs, will arrange to send the pricing supplement, the product supplement, the prospectus supplement and the prospectus if so requested by calling toll-free at 1-877-369-5412.
The ETNs are senior, unsecured obligations of BMO, and are subject to BMO's credit risk.
Investment suitability must be determined individually for each investor, and the ETNs are not suitable for all investors. This information is not intended to provide and should not be relied upon as providing accounting, legal, regulatory or tax advice. Investors should consult with their own financial advisors as to these matters.
About REX Shares
REX Shares ("REX") is a leading provider of innovative exchange-traded products ("ETPs"). With over $8 billion in assets under management, REX is known for pioneering the MicroSectors™ and T-REX product lines, offering leveraged and inverse exposure to a variety of stocks and market sectors. REX continues to drive innovation through its growing suite of ETPs, serving investors seeking sophisticated trading tools, options-based income strategies, and unique crypto exposures.
For more information, please visit www.rexshares.com or www.microsectors.com
Follow REX (@REXShares) and MicroSectors (@msectors) on X.
REX Media Contacts: rexshares@gregoryfca.com
About BMO Financial Group
BMO Financial Group is the seventh largest bank in North America by assets, with total assets of $1.5 trillion as of October 31, 2025. Serving clients for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to approximately 13 million clients across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and stronger communities.
Bank of Montreal ETNs: US.ETN@bmo.com, +1 (877) 369-5412
Internet: www.bmo.com
MicroSectors™ and REX™ are trademarks of REX. The trademarks have been licensed for use for certain purposes by REX. The Index have been licensed for use by REX. The ETNs are not sponsored, endorsed, sold or promoted by REX or any of its affiliates or third-party licensors (collectively, "REX Index Parties"). REX Index Parties make no representation or warranty, express or implied, to the owners of the ETNs or any member of the public regarding the advisability of investing in securities generally or in the ETNs particularly or the ability of the Index to track general stock market performance.
BMO Announces Upcoming Reverse Splits of Two Series of its Exchange Traded Notes (NYSE Arca: GDXD and FNGD)
NEW YORK, Jan. 28, 2026 - Bank of Montreal ("BMO") announced today that it will be implementing reverse splits of two series of its outstanding Exchange Traded Notes listed in the table below (each, an "ETN" and, collectively, the "ETNs"). Each reverse split is expected to be effective at the open of trading on February 9, 2026 (the "Effective Date").
The table below summarizes the reverse splits.
Each series of ETNs is expected to begin trading on NYSE Arca, Inc. on a reverse split-adjusted basis on the Effective Date. Holders of a series of ETNs who purchased such ETNs prior to the Effective Date will receive reverse split-adjusted ETNs based on the applicable Reverse Split Ratio set forth in the table above. For example, a 1-for-10 Reverse Split Ratio means that holders of a series of ETNs who purchased such ETNs prior to the Effective Date will receive one reverse split-adjusted ETN for every ten pre-reverse split ETNs they hold.
In addition, investors that hold a number of ETNs not evenly divisible by the applicable Split Factor will receive a cash payment for any fractional ETNs remaining (the "Partials"). The cash payment due on any Partials for each series of ETNs is expected to be determined on February 18, 2026 and will equal, for each remaining ETN of that series, its closing Indicative Note Value on that date. BMO will make any cash payment due on any Partials for each series of ETNs in accordance with its standard procedures through The Depository Trust Company, and expects that these amounts will be paid to holders of such ETNs on or about February 20, 2026. Investors should note that the timing of crediting amounts to their accounts will depend on processing by their brokers or other intermediaries.
The closing Indicative Note Value of each series of ETNs on February 6, 2026 will be multiplied by the applicable Split Factor to determine the reverse split-adjusted closing Indicative Note Value of such ETNs. Following the reverse split, each series of ETNs will have a new CUSIP but will continue to trade under its current ticker symbol.
Each reverse split will affect the trading denominations of the applicable series of ETNs, but will not have any effect on the aggregate principal amount of such ETNs, except that the aggregate principal amount of a series of ETNs will be reduced by the corresponding aggregate amount of any cash payments for any Partials applicable to those ETNs.
Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the applicable ETN Prospectus (as defined below).
Illustration of a Reverse Split
The following table shows the effect of a hypothetical 1-for-10 reverse split based on a hypothetical number of ETNs held and a hypothetical closing Indicative Note Value for the ETNs. The closing Indicative Note Value of an ETN is not the same as the trading price of such ETN.
Disclosures
The ETNs are not intended to be "buy and hold" investments and are not intended to be held to maturity. Instead, the ETNs are intended to be daily trading tools for sophisticated investors to manage daily trading risks as part of an overall diversified portfolio. The ETNs are designed to reflect a 3x leveraged short exposure to the performance of the relevant index on a daily basis, before taking into account the negative effect of the fees and charges. However, due to the daily resetting leverage, the returns on the ETNs over different periods of time can, and most likely will, differ significantly from three times the return on a direct short investment in the relevant index. The ETNs are designed to achieve their stated investment objectives on a daily basis. The performance of the ETNs over different periods of time can differ significantly from their stated daily objectives. The ETNs are considerably riskier than securities that have intermediate- or long-term investment objectives and are not suitable for investors who plan to hold them for a period of more than one day or who have a "buy and hold" strategy. Investors should actively and continuously monitor their investments in the ETNs on an intraday basis, and any decision to hold the ETNs for more than one day should be made with great care and only as the result of a series of daily (or more frequent) investment decisions to remain invested in the ETNs for the next one-day period. The ETNs are very sensitive to changes in the level of the relevant index, and returns on the ETNs may be negatively impacted in complex ways by the volatility of the relevant index on a daily or intraday basis. It is possible that you will suffer significant losses in the ETNs even if the long-term performance of the relevant index is negative. Accordingly, the ETNs should be purchased only by sophisticated investors who understand and can bear the potential risks and consequences of the ETNs that are designed to provide leveraged exposure to the short performance of the relevant index on a daily basis and that will be highly volatile and may experience significant losses, up to the entire amount invested, in a short period of time.
For additional information, including a discussion of the risks relating to an investment in the ETNs, please carefully read the applicable pricing supplement and related documents that we have filed with respect to the ETNs (each, an "ETN Prospectus"). Investors should review the relevant ETN Prospectus carefully prior to making an investment decision.
The ETN Prospectus relating to each series of ETNs can be found on EDGAR, the Securities and Exchange Commission (the "SEC") website at: www.sec.gov, as well as on the product websites at the following links: www.bmoetns.com and www.microsectors.com.
Bank of Montreal, the issuer of each series of the ETNs, has filed a registration statement (including a pricing supplement, product supplement (if applicable), prospectus supplement and prospectus) with the SEC regarding each series of the ETNs. Please read those documents and the other documents relating to these securities that Bank of Montreal has filed with the SEC for more complete information about Bank of Montreal and the applicable securities. These documents may be obtained without cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Bank of Montreal, and any agent or dealer that participated in the offering of the ETNs, will arrange to send the applicable pricing supplement, the product supplement (if applicable), the prospectus supplement and the prospectus if so requested by calling toll-free at 1-877-369-5412.
The ETNs are senior, unsecured obligations of BMO, and are subject to BMO's credit risk.
Investment suitability must be determined individually for each investor, and the ETNs are not suitable for all investors. This information is not intended to provide and should not be relied upon as providing accounting, legal, regulatory or tax advice. Investors should consult with their own financial advisors as to these matters.
About REX Shares
REX Shares ("REX") is a leading provider of innovative exchange-traded products ("ETPs"). With over $8 billion in assets under management, REX is known for pioneering the MicroSectors™ and T-REX product lines, offering leveraged and inverse exposure to a variety of stocks and market sectors. REX continues to drive innovation through its growing suite of ETPs, serving investors seeking sophisticated trading tools, options-based income strategies, and unique crypto exposures.
For more information, please visit www.rexshares.com or www.microsectors.com
Follow REX (@REXShares) and MicroSectors (@msectors) on X.
REX Media Contacts: rexshares@gregoryfca.com
About BMO Financial Group
BMO Financial Group is the seventh largest bank in North America by assets, with total assets of $1.5 trillion as of October 31, 2025. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society.
Bank of Montreal ETNs: US.ETN@bmo.com, +1 (877) 369-5412
Internet: www.bmo.com
MicroSectors™ and REX™ are trademarks of REX. The trademarks have been licensed for use for certain purposes by REX. The Index have been licensed for use by REX. The ETNs are not sponsored, endorsed, sold or promoted by REX or any of its affiliates or third-party licensors (collectively, "REX Index Parties"). REX Index Parties make no representation or warranty, express or implied, to the owners of the ETNs or any member of the public regarding the advisability of investing in securities generally or in the ETNs particularly or the ability of the Index to track general stock market performance.
BMO Increases the Financing Spread for its MicroSectors™ Gold Miners 3X Leveraged ETNs (NYSE Arca: GDXU)
NEW YORK, Nov. 14, 2025 – Bank of Montreal (“BMO”) today announced that, pursuant to the terms of BMO’s MicroSectors™ Gold Miners 3X Leveraged Exchange Traded Notes due June 29, 2040 (the “ETNs”), BMO Capital Markets Corp., the calculation agent of the ETNs, has elected to exercise its right to increase the Financing Spread for the ETNs.
Capitalized terms used but not defined herein have the meanings ascribed to them in the ETN Prospectus (as defined below).
Financing Spread Increase
It is expected that, effective as of November 21, 2025 (the “Fee Effective Date”), the Financing Spread will be increased as follows:
The closing Indicative Note Value of the ETNs reflects the daily deduction of a Daily Financing Charge, along with other fees and charges described in the ETN Prospectus. The Daily Financing Charge is based on the Federal Reserve Bank Prime Loan Rate plus the Financing Spread. As a result of the increase in the Financing Spread, the Daily Financing Charge will also increase, and returns on the ETNs will be adversely affected.
Redemption Rights
Holders of the ETNs may:
-
Continue to hold their ETNs
-
Elect to require BMO to redeem their ETNs in accordance with the terms of the ETNs
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Sell their ETNs in the secondary market
As disclosed in the ETN Prospectus, the Minimum Redemption Amount will not apply to any redemption validly elected from the date of this announcement through the Fee Effective Date. Outside of this period, holders must redeem at least 25,000 ETNs at one time to exercise their redemption right.
Disclosures
The issuance of this notice may adversely impact your ability to sell the ETNs and/or the price at which you may be able to sell them.
The ETNs are not intended to be “buy and hold” investments and are not intended to be held to maturity. The ETNs are designed as daily trading tools for sophisticated investors and seek to provide 3x leveraged long exposure, on a daily basis and before fees, to the performance of the S-Network MicroSectors™ Gold Miners Index (the “Index”).
Due to daily leverage resetting, returns over periods longer than one day can differ significantly—and likely will differ—from three times the return of a direct investment in the Index. The ETNs are considerably riskier than securities with intermediate- or long-term investment objectives and are not suitable for investors who plan to hold them for more than one day or who follow a buy-and-hold strategy.
Investors should actively and continuously monitor their investments on an intraday basis. The ETNs are highly sensitive to changes in the level and volatility of the Index, and it is possible to incur significant losses, including the entire amount invested, even if the long-term performance of the Index is positive.
Additional Information
For additional information, including a discussion of the risks associated with an investment in the ETNs, investors should carefully read the pricing supplement and related documents (collectively, the “ETN Prospectus”) before making an investment decision.
The ETN Prospectus is available on EDGAR at www.sec.gov and on the product websites:
The ETNs are senior, unsecured obligations of BMO and are subject to BMO’s credit risk. This information is not intended to provide accounting, legal, regulatory, or tax advice. Investors should consult their own financial advisors.
About REX Shares
REX Shares (“REX”) is a leading provider of innovative exchange-traded products (ETPs), with over $8 billion in assets under management. REX pioneered the MicroSectors™ and T-REX™ product lines, offering leveraged and inverse exposure to individual stocks and market sectors, as well as options-based income strategies and crypto-related exposures.
For more information, visit www.rexshares.com or www.microsectors.com.
Follow REX (@REXShares) and MicroSectors (@msectors) on X.
Media Contact: rexshares@gregoryfca.com
BMO Announces a Reverse Split of its MicroSectors™ Gold Miners -3X Inverse Leveraged ETNs (NYSE Arca: GDXD)
NEW YORK, Oct. 9, 2025 - Bank of Montreal ("BMO") announced today that it will implement a 1-for-20 reverse split of its outstanding MicroSectors™ Gold Miners -3X Inverse Leveraged Exchange Traded Notes due June 29, 2040 (the "ETNs"), expected to be effective as of October 22, 2025.
The table below summarizes the reverse split.
The reverse split is expected to be effective at the open of trading on October 22, 2025 (the "Effective Date"). The ETNs are expected to begin trading on the NYSE Arca, Inc. on a reverse split-adjusted basis on the Effective Date. Holders of the ETNs who purchased the ETNs prior to the Effective Date will receive one reverse split-adjusted ETN for every twenty pre-reverse split ETNs they hold.
In addition, investors that hold a number of ETNs not evenly divisible by twenty will receive a cash payment for any fractional ETNs remaining (the "Partials"). The cash payment due on any Partials is expected to be determined on October 27, 2025 and will equal, for each remaining ETN, its closing Indicative Note Value on that date. BMO will make any cash payment due on any Partials in accordance with its standard procedures through The Depository Trust Company, and expects that these amounts will be paid to holders on or about October 30, 2025. Investors should note that the timing of crediting amounts to their accounts will depend on the processing by their brokers or other intermediaries.
The closing Indicative Note Value of the ETNs on October 21, 2025 will be multiplied by twenty (20) to determine the reverse split-adjusted closing Indicative Note Value of the ETNs. Following the reverse split, the ETNs will have a new CUSIP but will continue to trade under the current ticker symbol.
The reverse split will affect the trading denominations of the ETNs, but it will not have any effect on the aggregate principal amount of the ETNs, except that the aggregate principal amount will be reduced by the corresponding aggregate amount of any cash payments for any Partials.
Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the ETN Prospectus (as defined below).
Illustration of a Reverse Split
The following table shows the effect of a hypothetical 1-for-20 reverse split based on a hypothetical number of ETNs held and a hypothetical closing Indicative Note Value for the ETNs. The closing Indicative Note Value of the ETN is not the same as the trading price of the ETNs.
The ETNs are not intended to be "buy and hold" investments, and are not intended to be held to maturity. Instead, the ETNs are intended to be daily trading tools for sophisticated investors to manage daily trading risks as part of an overall diversified portfolio. The ETNs are designed to reflect a 3x leveraged short exposure to the performance of the S-Network MicroSectors™ Gold Miners Index (the "Index") on a daily basis, before taking into account the negative effect of the fees and charges. However, due to the daily resetting leverage, the returns on the ETNs over different periods of time can, and most likely will, differ significantly from three times the return on a direct short investment in the Index. The ETNs are designed to achieve their stated investment objectives on a daily basis. The performance of the ETNs over different periods of time can differ significantly from their stated daily objectives. The ETNs are considerably riskier than securities that have intermediate- or long-term investment objectives, and are not suitable for investors who plan to hold them for a period of more than one day or who have a "buy and hold" strategy. Investors should actively and continuously monitor their investments in the ETNs on an intraday basis, and any decision to hold the ETNs for more than one day should be made with great care and only as the result of a series of daily (or more frequent) investment decisions to remain invested in the ETNs for the next one-day period. The ETNs are very sensitive to changes in the level of the Index, and returns on the ETNs may be negatively impacted in complex ways by the volatility of the Index on a daily or intraday basis. It is possible that you will suffer significant losses in the ETNs even if the long-term performance of the Index is negative. Accordingly, the ETNs should be purchased only by sophisticated investors who understand and can bear the potential risks and consequences of the ETNs that are designed to provide leveraged exposure to the short performance of the Index on a daily basis and that will be highly volatile and may experience significant losses, up to the entire amount invested, in a short period of time.
For additional information, including a discussion of the risks relating to an investment in the ETNs, please carefully read the pricing supplement and related documents that we have filed with respect to the ETNs (collectively, the "ETN Prospectus"). Investors should review the ETN Prospectus carefully prior to making an investment decision.
The ETN Prospectus can be found on EDGAR, the Securities and Exchange Commission (the "SEC") website at: www.sec.gov, as well as on the product websites at the following links: www.bmoetns.com and www.microsectors.com
Bank of Montreal, the issuer of the ETNs, has filed a registration statement (including a pricing supplement, product supplement, prospectus supplement and prospectus) with the SEC regarding the ETNs. Please read those documents and the other documents relating to this offering that Bank of Montreal has filed with the SEC for more complete information about Bank of Montreal and this offering. These documents may be obtained without cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Bank of Montreal, and any agent or dealer that participated in the offering of the ETNs, will arrange to send the pricing supplement, the product supplement, the prospectus supplement and the prospectus if so requested by calling toll-free at 1-877-369-5412.
The ETNs are senior, unsecured obligations of BMO, and are subject to BMO's credit risk.
Investment suitability must be determined individually for each investor, and the ETNs are not suitable for all investors. This information is not intended to provide and should not be relied upon as providing accounting, legal, regulatory or tax advice. Investors should consult with their own financial advisors as to these matters.
About REX Shares
REX Shares ("REX") is a leading provider of innovative exchange-traded products ("ETPs"). With over $8 billion in assets under management, REX is known for pioneering the MicroSectors™ and T-REX product lines, offering leveraged and inverse exposure to a variety of stocks and market sectors. REX continues to drive innovation through its growing suite of ETPs, serving investors seeking sophisticated trading tools, options-based income strategies, and unique crypto exposures.
For more information, please visit www.rexshares.com or www.microsectors.com
Follow REX (@REXShares) and MicroSectors (@msectors) on X.
REX Media Contacts: rexshares@gregoryfca.com
About BMO Financial Group
BMO Financial Group is the seventh largest bank in North America by assets, with total assets of $1.4 trillion as of July 31, 2025. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society.
Bank of Montreal ETNs: US.ETN@bmo.com, +1 (877) 369-5412
Internet: www.bmo.com
MicroSectors™ and REX™ are trademarks of REX. The trademarks have been licensed for use for certain purposes by REX. The Index have been licensed for use by REX. The ETNs are not sponsored, endorsed, sold or promoted by REX or any of its affiliates or third-party licensors (collectively, "REX Index Parties"). REX Index Parties make no representation or warranty, express or implied, to the owners of the ETNs or any member of the public regarding the advisability of investing in securities generally or in the ETNs particularly or the ability of the Index to track general stock market performance.