Bank of Montreal - MicroSectors 3x Long Semiconductor ETNs
SMHU
Chicago Board Options Exchange- -
USD
- -
- -
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in mil. unless spec.Quarterly Earnings Per Share
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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 4, 2026
- CIK
- 0000927971
- Website
- microsectors.com
- Similar Companies
- Business
- MicroSectors 3× Long Semiconductor ETNs are exchange-traded notes issued by Bank of Montreal and marketed under the MicroSectors platform in collaboration with REX Shares, LLC. The notes provide sophisticated investors with three-times leveraged long daily exposure, before applicable fees and charges, to the VettaFi Semiconductor Fund-Tracking Index (SEMIS), a total-return index designed to track the performance of the VanEck Semiconductor ETF, which provides exposure to a portfolio of large, liquid U.S.-listed semiconductor-industry companies. SMHU is a senior unsecured debt obligation of Bank of Montreal rather than an equity fund or direct ownership interest in semiconductor securities; its returns are subject to the issuer’s credit risk, index performance, daily leverage-reset effects, fees and charges. The product is designed principally for active and sophisticated traders seeking targeted daily semiconductor-sector exposure, including companies involved in semiconductor design, manufacturing, equipment, and related technologies. The ETNs trade on the Cboe BZX Exchange under the SMHU ticker and mature on July 31, 2046. Bank of Montreal, founded in 1817 and headquartered in Montreal, Quebec, Canada, issues the notes; BMO Capital Markets Corp., an affiliated entity, acts as underwriter; and REX Shares, headquartered in Miami, Florida, provides the MicroSectors product platform and exchange-traded-product expertise. The principal recent strategic development is the August 2026 launch by BMO and REX Shares of SMHU alongside the MicroSectors -3× Short Semiconductor ETNs (SMHD), expanding the MicroSectors suite into leveraged long and inverse daily semiconductor exposure. The daily investor fee is waived through January 31, 2027 and is scheduled to be charged at an annual rate of 0.70% thereafter.