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NEW YORK, Feb. 12, 2026 /PRNewswire/ - Bank of Montreal ("BMO") today announced that it will be implementing splits of three series of its outstanding Exchange Traded Notes listed in the table below (each, an "ETN" and, collectively, the "ETNs"). Each split is expected to be effective at the open of trading on February 24, 2026 (the "Ex-Date").
SPYU is a 4x leveraged ETN designed for daily trading, not long-term holding, due to compounding and daily reset effects. The key risk is issuer credit (Bank of Montreal), not underlying holdings or management fees, making internal structure less relevant. SPYU is best used for short-term speculation or hedging, not as a core investment or buy-and-hold strategy.
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MAX S&P 500 4X Leveraged ETN is a risky investment that could seriously hurt someone's life savings. However, if used as a relatively small piece of a larger puzzle, SPYU could help to deliver market-beating returns over the long run. Having said the above, many individual investors might want to stay away from this ETN due to its potential for causing irreparable damage to a portfolio, if not handled right.