MAX S&P 500 4X Leveraged ETN (SPYU) Price
MAX S&P 500 4X Leveraged ETN Price
Underlying
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.
MAX S&P 500 4X Leveraged ETN List of Holdings
Frequently asked questions about MAX S&P 500 4X Leveraged ETN
MAX S&P 500 4X Leveraged ETN is offered by Max, a leading player in the field of passive investments.
The ISIN of MAX S&P 500 4X Leveraged ETN is US0636795678.
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.
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.
Leveraged ETFs like MAX S&P 500 4X Leveraged ETN are designed for short-term, tactical trading — typically intraday or a few days. Holding them for weeks or months exposes investors to compounding risk and potential tracking deviation. Most issuers explicitly recommend against long-term holding.
MAX S&P 500 4X Leveraged ETN provides 4X daily long exposure to SPY. When SPY moves +1% in a day, MAX S&P 500 4X Leveraged ETN targets approximately 4% (before fees).
The total expense ratio of MAX S&P 500 4X Leveraged ETN is 2.95%, which means that investors pay 295.00 USD per 10,000 USD in investment capital annually.
The ETF is listed in USD.
European investors may incur additional costs for currency exchange and transaction fees.
No, MAX S&P 500 4X Leveraged ETN does not comply with the EU UCITS investor protection directives.
MAX S&P 500 4X Leveraged ETN tracks the performance of the S&P 500.
The current average trading volume of MAX S&P 500 4X Leveraged ETN is 927,966.60.
MAX S&P 500 4X Leveraged ETN is domiciled in US.
The fund was launched on 12/5/2023.
The MAX S&P 500 4X Leveraged ETN mainly invests in Large Cap companies.
The NAV of MAX S&P 500 4X Leveraged ETN amounts to 22.55 M USD.
Investments can be made through brokers or financial institutions that provide access to trading ETFs.
The ETF is traded on the stock exchange, similar to stocks.
Yes, the ETF can be held in a regular securities account.
The ETF is suitable for both short-term and long-term investment strategies, depending on the investor's goals.
The ETF is valued on a daily stock exchange basis.
Information on dividends should be requested from the provider's website or your broker.
The risks include market fluctuations, currency risks, and the risk associated with smaller companies.
The ETF is obligated to report regularly and transparently on its investments.
The performance can be viewed on Eulerpool or directly on the provider's website.
Further information can be found on the official website of the provider.