FLYU +3x MicroSectors Travel 3x Leveraged ETN

BULL ETN extreme · Issuer MicroSectors · Tracks Travel (AWAY) · Listed 2022-06-22

Quote & options All leveraged ETFs
Implied AUM
—
shares out × price
Last close
$33.77
20261001
30-day avg volume
1,036
no listed options
FLYU realized
—
what holders actually earned
Theoretical +3x
—
+3x × Travel's return
Decay gap
—
realized minus theoretical

Realized vs theoretical +3x Travel

Cumulative return of FLYU against a clean +3x of Travel's return over the same window; the red line (right axis) is the gap between them.

Pair counterpart: FLYD (-3x bear, MicroSectors Travel -3x Inverse Leveraged ETN)
Shorting both legs of a daily-reset bull/bear pair captures their combined decay over time. It isn't free money — the edge depends on borrow rates (often punitive on the bear leg) and assignment risk on hard-to-borrow shares.

Other leveraged products on Travel

2
SymbolFactorDirectionIssuerNameImplied AUM30d volumeOptions
OOTO +2x BULLDirexionDirexion Daily Travel & Vacation Bull 2X Shares — 10,388 ✓
FLYD -3x BEARMicroSectorsMicroSectors Travel -3x Inverse Leveraged ETN — 979

How FLYU works

FLYU targets +3x the daily return of Travel — not the return over longer windows. It rebalances every day, so over weeks and months its result drifts away from +3x × the index, usually downward when the market chops around.

The maths: the drag is roughly −½ × N × (N−1) × σ² per period (N = leverage, σ = the index's volatility). For a +3x fund on an index with 25% annual volatility that is several percent a year before fees — the red line above is that drag measured.

Short-term trades (a day or a few) are what these funds are built for. Premium sellers like their rich option IV — see the quote page. Multi-day directional bets work in strong trends and get eaten in chop.

Not investment advice.