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ETFs

MAX Auto Industry -3x Inverse Leveraged ETN

CARD
$—
Today’s Change
— (—)

Snapshot
*

Inception Date
Jun 27, 2023
Expense Ratio
0.95%
Type
US Equities
Fund Owner
MAX ETNs
Volume (1m avg. daily)
$8,141
AUM
$3,410,781
Associated Index
Prime Auto Industry Index
Inverse/Leveraged
Inverse (-3x)
Passive/Active
Passive
Fractionable on Composer
No
Prospectus
View
Invest with CARD
Trade CARD Options

What is CARD?

The return on the MAX Auto Industry -3X Leveraged ETNs is linked to a 3X times inverse leveraged participation in the daily performance of the Prime Auto Industry Index, minus the applicable fees. The ETNs are not "buy and hold" investments and should not be expected to provide a 3X times inverse leveraged return of the underlying index's cumulative return for periods greater than a day.

1M
3M
6M
YTD
1Y
3Y
Max
www.composer.trade

CARD
Performance Measures**

for the time period Jun 28, 2023 to Dec 4, 2025

Returns

1M Trailing Return: -26.5%

The percent change in the value over the most recent 1-month period.

3M Trailing Return: -21.2%

The percent change in the value over the most recent 3-month period.

Measures of Risk or Volatility

Max Drawdown: -92.7%

The greatest percent loss from peak to trough in value over the time period.

Standard Deviation: 82.4%

The typical amount that daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

Measures of Risk-Adjusted Performance

Sharpe Ratio: -0.67

The annualized arithmetic mean of the daily returns divided by the annualized standard deviation of the daily returns for the selected time period.

Calmar Ratio: -0.64

The annualized return divided by the max drawdown for the selected time period.

ETFs related toCARD

ETFs correlated to CARD include HIBS, SDS, SPDN

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Bank of Montreal - ZC SP ETN REDEEM 28/05/2043 USD 25 - 063679468
HIBS
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SDS
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SPDN
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SPXS
Direxion Shares ETF Trust - Direxion Daily S&P 500 Bear -3X Shares
SH
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SPXU
ProShares Trust - ProShares UltraPro Short S&P 500
RWM
ProShares Trust - ProShares Short Russell2000 -1x Shares
SRTY
ProShares Trust - ProShares UltraPro Short Russell2000 -3x Shares
TZA
Direxion Shares ETF Trust - Direxion Daily Small Cap Bear 3X Shares
SARK
Investment Managers Series Trust II - AXS Short Innovation Daily ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

Trading Strategies
Related toCARD

(B) NOVA | Drawdown Duel to the MAX v2 | (451/9% MDD) since 2013

Category

Tactical allocation, momentum & mean-reversion, drawdown-based selection, volatility hedging, leveraged ETFs, sector rotation, defensive overlays

OOS Cumulative Return

38.61%

Create your own algorithmic trading strategy with CARD using Composer

FAQ

CARD is a US Equities ETF. The return on the MAX Auto Industry -3X Leveraged ETNs is linked to a 3X times inverse leveraged participation in the daily performance of the Prime Auto Industry Index, minus the applicable fees. The ETNs are not "buy and hold" investments and should not be expected to provide a 3X times inverse leveraged return of the underlying index's cumulative return for periods greater than a day.

CARD tracks the Prime Auto Industry Index.

No, CARD is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, CARD is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on CARD is -0.1009%. This is the percent change in the value of CARD over the most recent 1-month period. The 3-month return on CARD is %. This is the percent change in the value of CARD over the most recent 3-month period.

ETFs similar to CARD include CARU, TQQQ, and SSO.

ETFs correlated to CARD include HIBS, SDS, and SPDN.

ETFs that are inversely correlated to CARD include GAUG, LGRO, and XAUG.

Yes, CARD is a Inverse (-3x) ETF: This means that CARD will try to match the performance of Prime Auto Industry Index, but with 3x the returns.

Yes, CARD is a Inverse (-3x) leveraged ETF: This means that CARD will try to match the performance of Prime Auto Industry Index, but move 3x in the opposite direction.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.