UBCETRACS UBS Bloomberg CMCI Livestock Total Return ETN
UBC Fund Description
The ETRACS CMCI Livestock Total Return ETN tracks an index of live cattle and lean hogs futures contracts. It uses contracts expiring in 3 months and 6 months to maintain exposure to each commodity.
UBC Factset Analytics Insight
This note is being redeemed. The last day of trading will be June 25, 2018. UBC uses a laddered futures contract strategy to gain exposure to live cattle and lean hogs. Unlike our GSCI benchmark, which holds front-month contracts, UBC holds 3- and 6-month contracts on each commodity in an attempt to mitigate contango. To-date, UBC has tended to outperform our front-month benchmark. UBC omits feeder cattle, and instead overweights lean hogs. Even though UBC is the cheapest fund in the segment, its tracking has been somewhat sloppy. The fund has also failed to attract significant interest, as shown in its measly AUM and median daily volume under $25K.
UBC CHARTS AND PERFORMANCE
UBC Top 10 Holdings
UBC Portfolio Management
UBC Tax Exposures
UBC Fund Structure
UBC Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of UBC. UBC is rated a 0 out of 5.
UBC SECTOR BREAKDOWN
UBC Tenor Strategy
UBC's laddered strategy targets two constant maturities, 3 and 6 months.
UBC Rolling Strategy
UBC's constant maturity strategy requires continuous rolling of furtures contracts.