MicroSectors -3x Short Investment Grade Corporate Bond (LQD) ETNs
LQDD
Chicago Board Options Exchange- -
USD
- -
- -
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- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 320 S. Canal Street (US HQ; parent bank HQ Montreal/Toronto, Canada) Chicago IL United States of America 60606
- IPO Date
- Aug 11, 2026
- CIK
- 0000927971
- Similar Companies
- Business
- MicroSectors™ -3× Short Investment Grade Corporate Bond (LQD) ETNs, trading under the ticker LQDD, are exchange-traded notes issued by Bank of Montreal that provide investors with daily leveraged inverse exposure to U.S. investment-grade corporate bonds. The ETNs are linked to the VettaFi Investment Grade Corporate Bond Fund-Tracking Index, which tracks the performance of the iShares iBoxx $ Investment Grade Corporate Bond ETF; LQDD is designed to deliver a daily return equal to negative three times the daily performance of the index, before applicable fees and expenses. The notes are senior unsecured debt obligations of Bank of Montreal, do not hold underlying assets, and expose holders to both the daily performance of the reference index and the creditworthiness of Bank of Montreal. Products and services consist of exchange-traded, daily-reset -3× inverse investment-grade corporate-bond exposure; intraday indicative-value calculation under ticker LQDDIV; market access through trading on the Cboe BZX Exchange; and prospectus-based issuance, redemption and investor-information services provided by Bank of Montreal and its affiliates. The underlying index is created, sponsored and maintained by VettaFi LLC and provides indirect exposure to U.S. dollar-denominated investment-grade corporate debt through the LQD fund-tracking methodology. Bank of Montreal, founded in 1817 and headquartered in Montreal, Quebec, Canada, issues the ETNs, while BMO Capital Markets Corp., an affiliate of the issuer, acts as underwriter; REX Shares operates the MicroSectors product platform and collaborates with BMO in product distribution and development. LQDD primarily serves sophisticated investors, traders and institutions seeking short-term tactical, hedging or directional exposure to changes in investment-grade corporate-bond prices. In August 2026, Bank of Montreal and REX Shares launched LQDD alongside the MicroSectors 3× Long Investment Grade Corporate Bond ETNs, MicroSectors 3× Long High Yield Corporate Bond ETNs and MicroSectors -3× Short High Yield Corporate Bond ETNs, expanding the MicroSectors lineup into daily 3× long and -3× short exposure to U.S. investment-grade and high-yield corporate-bond benchmarks. The LQDD ETNs were issued on August 12, 2026, are scheduled to mature on July 31, 2046, and represent BMO and REX Shares’ expansion of leveraged exchange-traded debt products beyond their established sector- and single-stock-oriented offerings.