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ETFs

MicroSectors Gold 3x Leveraged ETN

SHNY
$--
Today’s Change
-- (--)

Snapshot
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Inception Date
Feb 21 2023
Expense Ratio
0.95%
Type
Global Commodities & Metals
Fund Owner
Bank of Montreal
Volume (1m avg. daily)
$41,547
AUM
$4,866,428
Associated Index
SPDR Gold Shares ETF
Inverse/Leveraged
Leveraged (3x)
Passive/Active
Passive
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

Invest with SHNY

What is SHNY?

The MicroSectors Gold Exchange Traded Notes is linked to the performance of the SPDR Gold Shares ETF. ETN offers investors a 3X return based on changes in the level of the SPDR Gold Shares ETF, compounded daily, before taking into account fees.

ETFs related toSHNY

ETFs correlated to SHNY include IAUM, UGL, SGOL

SHNY
Bank of Montreal - ZC SP ETN REDEEM 29/01/2043 USD 25 - 063679526
IAUM
BlackRock Institutional Trust Company N.A. - iShares Gold Trust Micro
UGL
ProShares Trust - ProShares Ultra Gold 2x Shares
SGOL
abrdn ETF - abrdn Physical Gold Shares ETF
OUNZ
Merk Investments LLC - VanEck Merk Gold Trust
AAAU
Goldman Sachs Physical Gold ETF Trust - Goldman Sachs Physical Gold ETF
GLD
SSgA Active Trust - SPDR Gold Shares ETF
GLDM
World Gold Trust - SPDR Gold MiniShares Trust
BAR
GraniteShares Gold Trust - GraniteShares Gold Shares
IAU
BlackRock Institutional Trust Company N.A. - iShares Gold Trust
DBP
Invesco DB Multi-Sector Commodity Trust - Invesco DB Precious Metals Fund

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.

Automated Strategies
Related toSHNY

#BORING

The Not Boring: Rising Rates with Vol Switch

Category

Community

Risk Rating

Aggressive

#SPYMIN

SPY minimum drawdown

Category

Community

Risk Rating

Aggressive

Create your own algorithmic trading strategy with SHNY using Composer

FAQ

SHNY is a Global Commodities & Metals ETF. The MicroSectors Gold Exchange Traded Notes is linked to the performance of the SPDR Gold Shares ETF. ETN offers investors a 3X return based on changes in the level of the SPDR Gold Shares ETF, compounded daily, before taking into account fees.

SHNY tracks the SPDR Gold Shares ETF.

No, SHNY 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, SHNY 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 SHNY is 0.1999%. This is the percent change in the value of SHNY over the most recent 1-month period. The 3-month return on SHNY is %. This is the percent change in the value of SHNY over the most recent 3-month period.

ETFs similar to SHNY include DULL, SSO, and SPXL.

ETFs correlated to SHNY include IAUM, UGL, and SGOL.

ETFs that are inversely correlated to SHNY include GLL, YCS, and GDXD.

Yes, SHNY is a Leveraged (3x) ETF: This means that SHNY will try to match the performance of SPDR Gold Shares ETF, but with 3x the returns.

Yes, SHNY is a Leveraged (3x) leveraged ETF: This means that {characteristics.Identifier} will try to match the performance of SPDR Gold Shares ETF, but move 3x in the opposite direction.

Disclaimers

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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.