BMO and REX Launch First 3x Long and Short HYG and LQD ETNs

BMO and REX Shares have launched four MicroSectors ETNs providing 3x long and -3x short daily exposure to two major corporate bond ETFs. HYGU and HYGD track a VettaFi index tied to the iShares iBoxx $ High Yield Corporate Bond ETF (HYG), while LQDU and LQDD track a VettaFi index tied to the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD). Listed on Cboe BZX, they are the first US-listed exchange-traded products offering 3x long and short daily exposure to HYG and LQD. Designed as short-term trading tools, the ETNs reset leverage daily and are unsecured obligations of BMO.