BMO and REX Shares Launch Leveraged ETNs Tracking Brazil, Japan, and Taiwan Markets
Bank of Montreal (BMO) and REX Shares have launched a series of leveraged Exchange Traded Notes (ETNs) offering three times long or short exposure to the equity markets in Brazil, Japan, and Taiwan. The new products include six ETNs—BRZL, BRZD for Brazil; JPNU, JPND for Japan; TAWN, TPEI for Taiwan—that are set to trade on Cboe BZX Exchange starting August 20, 2026. Each series is designed to track the performance of a respective VettaFi Equity Fund-Tracking Index. These indices mirror iShares ETFs (EWZ for Brazil, EWJ for Japan, EWT for Taiwan), focusing on large and mid-cap equities in each region. The ETNs are intended as daily trading tools rather than long-term investments due to the compounding effects of leverage resets. Investors should be aware that these products carry significant risk and may not reflect three times returns over extended periods, making them unsuitable for buy-and-hold strategies.
Topics: exchange traded notes leveraged products market exposure