Bank of MontrealLeveraged EquityCARU · NYSE Arca

MAX Auto Industry 3X Leveraged ETN (CARU)

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Price: $19.19; —12 Nov 2026
Assets: $3.1M; Total net assets
Expense ratio: 0.95%; Category 0.00%
Yield: 0.00%; Trailing distributions

1Y return: -36.8%-20.0%; Category -16.9%
3Y CAGR: —; Category 25.2%
5Y CAGR: —; Category 1.4%

$19.19—12 Nov 2026

Fund

Assets: $3.1M
Expense: 0.95%
Categ. exp: 0.00%
Yield: 0.00%

ReturnFundCateg.

1Y-36.8%-16.9%

3Y—25.2%

5Y—1.4%

Launch-16.5%—

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MAX Auto Industry 3X Leveraged ETN

Calendar-year returns

Fund only: no comparison series covers this fund's history.

Risk statistics

Five years of daily closes. Risk-free rate 4% a year.

Standard deviation: —
Maximum drawdown: —
Sharpe ratio: —
Sortino ratio: —
Beta: —
Alpha: —
R²: —
Information ratio: —
Upside capture: —
Downside capture: —
Tracking error: —

Trailing returns compared with benchmark
Period	1M	3M	6M	YTD	1Y	3YCAGR	5YCAGR	10YCAGR	LaunchCAGR
ETF	+12.5%	-20.9%	-18.6%	-38.4%	-36.8%	—	—	—	-16.5%
Leveraged Equity average	-25.0%	-32.7%	-30.0%	-13.3%	-16.9%	25.2%	1.4%	8.6%	-24.6%
Difference	+37.5%	+11.8%	+11.5%	-25.2%	-20.0%	—	—	—	+8.1%

Holdings

The 10 largest positions make up 78.5% of the fund.

Top holdings

Largest holdings by weight
Ticker	Holding	Weight
AZO	AutoZone Inc	12.50%
TSLA	Tesla Inc	12.28%
F	Ford Motor Co	8.56%
CVNA	Carvana Co Class A	8.41%
ORLY	O'Reilly Automotive Inc	8.33%
RIVN	Rivian Automotive Inc Class A	8.19%
GM	General Motors Co	8.03%
GPC	Genuine Parts Co	4.44%
RACE.MI	Ferrari NV	4.14%
KMX	CarMax Inc	3.64%

Portfolio valuation

Weighted averages of what the fund holds.

P/E: 23.2
P/B: 1.6
P/S: 0.6
P/CF: 8.3

Sector allocation

Share of the equity the fund holds.

Consumer discretionary97.8%
Industrials1.4%
Communication services0.8%

Asset mix

Stocks100.0%

ETF details

Issuer: Bank of Montreal
Category: Equity · Leveraged Equity
Ticker: CARU
Exchange: NYSE Arca
Inception: 27 Jun 2023 (3.4 years)
Structure: Exchange Traded Fund
Expense ratio: 0.95% (category 0.00%)
Holdings turnover: 0%
Distribution yield: 0.00%
Beta, 3 years: 3.31
Total net assets: $3.1M

Prices and returns as of 12 Nov 2026; total return with distributions reinvested, before brokerage and taxes. Not investment advice.

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