Symbols

IWML

ETRACS 2x Leveraged US Size Factor TR ETN·ARCA

--(--)

Key Stats

Assets Under Management

5.30MUSD

Fund Flows (1Y)

-2.44MUSD

Dividend Yield

Discount/Premium to NAV

-0.26%

Shares Outstanding

200.00K

Expense Ratio

0.95%

About ETRACS 2x Leveraged US Size Factor TR ETN

Issuer

UBS

Brand

ETRACS

Home Page

https://etracs.ubs.com/product/detail/index/ussymbol/IWML

Inception Date

Feb 5, 2021

Structure

Exchange-Traded Note

Index Tracked

Russell 2000 TR USD Index

Management Style

Passive

Dividend Treatment

Distribution Tax Treatment

No distributions

Income Tax Type

Capital Gains

Max ST Capital Gains Rate

39.60%

Max LT Capital Gains Rate

20.00%

Primary Advisor

Distributor

UBS Securities LLC

As a levered product, IWML is not a buy-and-hold ETN, it's a short-term tactical instrument designed to provide 2x exposure to the Russell 2000. The underlying index consists primarily of small-caps, but also drifts into midcaps and heavily into micro-caps, overall representing approximately 10% of the total market. Like many levered funds, IWML delivers 2x exposure only for one day. The fund also resets its leverage quarterly. Keep in mind this is an exchange-traded note, as such, investors also assume the credit risk of UBS. Index reconstitution is done annually.