What is the ISIN of MAX S&P 500 4X Leveraged ETN?

The ISIN of MAX S&P 500 4X Leveraged ETN is US0636795678.

What does leveraged daily exposure mean for MAX S&P 500 4X Leveraged ETN?

MAX S&P 500 4X Leveraged ETN aims to deliver 4 times the daily return of SPY (long). The leverage resets each trading day, so multi-day returns can differ materially from 4X the underlying's cumulative return.

What is volatility decay and how does it affect MAX S&P 500 4X Leveraged ETN?

Volatility decay (also called compounding drag) occurs because MAX S&P 500 4X Leveraged ETN rebalances daily. In choppy, sideways markets the cumulative return can significantly trail 4X the underlying's period return — even if the underlying ends flat. The effect intensifies with higher leverage factors and longer holding periods.

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MAX S&P 500 4X Leveraged ETN (SPYU) Price

MAX S&P 500 4X Leveraged ETN Price

— EUR

PRO

TER2.95 %

AUM381.8 M USD

IndexS&P 500

CurrencyUSD

Funds Launch12/5/2023

MAX S&P 500 4X Leveraged ETN Price

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Underlying

SPY

SPY4X Long Daily

SPY

MAX S&P 500 4X Leveraged ETN provides 4X daily exposure to SPY.

Leverage & Compounding Risk

This ETF rebalances daily to achieve its 4X target. Over periods longer than one day, compounding can cause returns to deviate significantly from 4X the underlying's return — especially in volatile, sideways markets (volatility decay). This product is designed for short-term trading, not buy-and-hold investing.