WTID

UBS ETRACS - ProShares Daily 3x Inverse Crude ETN

WTID Fund Description

The UBS ETRACS — ProShares Daily 3x Inverse Crude ETN provides daily -3x inverse exposure to an index of WTI crude oil futures contracts.

WTID Factset Analytics Insight

Like most geared products, WTID is intended as a trading tool, not a buy-and-hold investment. The note provides -3x exposure to its index for a one-day period. The daily reset function means investors holding WTID for longer periods are exposed to the effects of compounding, and could see returns that vary greatly from -3x exposure. WTID’s Bloomberg index tracks oil futures contracts that are rolled every other month, striking a balance between spot-price sensitivity, turnover, and contango effects.
As an ETN, WTID is backed by the credit of UBS, rather than futures and cash as in a commodity pool structure. Also, investors get a 1099 at tax time instead of a K-1. WTID is expensive to hold, but trading cost matters more for this tactical tool. Also consider Citigroup’s DWT, a direct competitor, or ProShare’s SCO, a -2x crude oil fund which uses a commodity pool structure. WTIU is WTID’s 3x long counterpart, while OIIL from Credit Suisse tracks the same index without leverage.

  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
COMPARE
RESET
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Bats BZX Real-time Quote - 23:59:59
Daily Spread
Premium/Discount
Volume

WTID Factset Analytics Block Liquidity

As of 01/12/18
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of WTID. WTID is rated a N/A out of 5.

WTID Summary Data

UBS
ETRACS
01/04/17
Exchange-Traded Note
1.85%
$12.95M
0.32%

WTID Portfolio Data

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N/A

WTID Index Data

Single Asset
Single Asset
N/A

WTID Fund Structure

No
N/A
N/A
UBS AG (London Branch)
Low
High
-3
Daily

WTID Tax Exposures

20.00% / 39.60%
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No

WTID Tradability

11,933
$198.95K
8,476
$149.78K
0.32%
0.05%
2.18% / -2.38%
None
50,000
0.17
0.13%
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$12.79
N/A