BMO & REX Debut 3X Leveraged Brazil, Japan & Taiwan ETNs

On August 19, 2026, Bank of Montreal and REX Shares announced the launch of a new suite of exchange-traded notes (ETNs). These ETNs, issued by BMO, go live for trading on the Cboe BZX Exchange on Thursday, August 20, 2026.

Bank of Montreal and REX Shares have teamed up to launch a new selection of six leveraged ETNs. The new ETNs provide 3x long or short daily exposure to Brazilian, equity indexes, and Taiwanese equity indexes. These new ETNs represent the latest collaboration between Bank of Montreal and REX Shares. They come at a time when demand for international diversification remains high.

The new suite of ETNs consists of six different strategies. Each ETN provides leveraged exposure to a particular index, be it through a long or short approach.

Two of the new ETNs focus on the VettaFi Brazil Equity Fund-Tracking Index. This index tracks the iShares MSCI Brazil ETF (EWZ), which in turn invests in a variety of different equities within the Brazilian market. Primarily, EWZ allocates towards large-cap and mid-cap Brazilian companies. The new ETNs provide long and short leveraged exposure to the Brazilian market by tracking the VettaFi index. The MicroSectors 3x Long Brazil ETNs due July 31, 2046 (BRZL) aim to provide three times leveraged long participation in the index’s daily results. Meanwhile, the MicroSectors™ -3× Short Brazil ETNs due July 31, 2046 (BRZD) seeks 3x leveraged short participation.

The VettaFi Japan Equity Fund-Tracking Index is the benchmark for two of the other new ETNs. This index tracks the iShares MSCI Japan ETF (EWJ), which primarily invests in large-cap Japanese companies. For long exposure, the MicroSectors™ 3× Long Japan ETNs due July 31, 2046 (JPNU) aim to provide 3x the daily results of the VettaFi index. Inversely, the MicroSectors™ -3× Short Japan ETNs due July 31, 2046 (JPND) looks to offer -3x short participation.

Finally, the last pair of new ETNs are linked to the VettaFi Taiwan Equity Fund-Tracking Index. The index tracks the iShares MSCI Taiwan ETF (EWT), which likewise invests in key companies within Taiwan’s market. EWT mostly invests in large caps, but also holds an allocation towards mid-cap Taiwanese equities as well. As one would expect, the two new ETNS offer long and short exposure to the VettaFi index. The MicroSectors™ 3× Long Taiwan ETNs due July 31, 2046 (TAWN) seek to offer 3x the daily performance of the index, while the MicroSectors™ -3× Short Taiwan ETNs due July 31, 2046 (TPEI) aim to provide -3x the daily results.

These six new ETNs offer a plethora of use cases in today’s investing landscape. Not only are leveraged investment approaches increasingly popular, but the new ETNs can help advisors and investors gain focused exposure to a particular country. This is not the first time that REX Shares and the Bank of Montreal have collaborated to launch leveraged ETNs. Earlier in August, the partnering firms introduced four ETNs providing leveraged exposure to corporate bond benchmarks. Their combined history and continuing partnership should give advisors and investors confidence in their deep experience navigating the field of leveraged strategies.