The recent post-earnings plunge in Netflix sent FNGS, FNGO, and FNGU down sharply lower this week

investors may want to keep an eye on is MicroSectors’ ( $Bank Montreal Que Microsectors Fang+Etns 08/01/2038 (FNGS.US)$ ), ( $Bank Of Montreal Microsectors Fang Index 2X Leveraged Etn (FNGO.US)$ ) and ( $MicroSectors FANG+ Index 3X Leveraged ETN (FNGU.US)$ ), which are single, double, and triple leveraged ETNs that are each constructed of the same portfolio of a condensed equally weighted ten stock make-up.
$Alphabet-C (GOOG.US)$ $Alphabet-A (GOOGL.US)$ , $Meta Platforms (FB.US)$ , $Apple (AAPL.US)$ , and $Amazon (AMZN.US)$ , all hold an equal 10% weighting in the three funds, equating to a 40% block that’s tied not only to a traditional fund but also to a double and triple leveraged fund.