MicroSectors U.S. Big Banks Index -2X Inverse Leveraged ETNs
BNKZ
New York Stock Exchange Arca- -
USD
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Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- IPO Date
- Apr 2, 2019
- Similar Companies
- Business
- MicroSectors U.S. Big Banks Index -2X Inverse Leveraged ETNs (BNKZ) are senior, unsecured exchange-traded notes issued by Bank of Montreal that provide two times inverse leveraged exposure to the daily performance of the Solactive MicroSectors U.S. Big Banks Index, an equal-dollar weighted index comprising the 10 largest U.S. banks and financial services companies including JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc., Wells Fargo & Co., Goldman Sachs Group Inc., Morgan Stanley, Bank of New York Mellon Corp., PNC Financial Services Group, U.S. Bancorp, and Charles Schwab Corp.; the ETNs compound daily returns minus fees and are listed on NYSE Arca with CUSIP 63679773. Launched on April 5, 2019, with maturity on March 25, 2039, BNKZ targets sophisticated investors seeking targeted short exposure to the U.S. big banks sector and operates globally through U.S. exchanges as part of the MicroSectors lineup, which also includes related leveraged and inverse products such as BNKU (3X leveraged), BNKD (-3X inverse), and BNKO (2X leveraged). In recent years, Bank of Montreal and REX Shares expanded the MicroSectors U.S. Big Banks suite, including through launches of additional leveraged and inverse ETNs tied to the same index; in February 2025, BMO and REX introduced new 3X leveraged and inverse leveraged ETNs for U.S. Big Banks alongside U.S. Big Oil products, enhancing targeted daily exposure offerings for investors. The issuer maintains ongoing product management, with recent actions including reverse splits on other MicroSectors ETNs such as the Gold Miners -3X Inverse in October 2025, reflecting active oversight amid market conditions.