CEFD

ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN
*Unless otherwise stated, data provided by FactSet.

CEFD Fund Description

CEFD provides monthly 1.5x leveraged exposure to an index of three types of yield-focused CEFs: investment-grade fixed-income, high-yield fixed-income, and option-writing. CEFs that trade at discount receive higher weights.

CEFD Factset Analytics Insight

CEFD provides monthly 1.5x leveraged exposure to 200 publicly-traded closed-end funds (CEFs) that are yield-focused. CEFs differ from ETFs in that they lack ETF’s baked-in creation/redemption plumbing, so CEFS often trade at discounts or premiums since they have no outlet for arbitrage to keep market price in line with fair value. As such, the fund uses a weighting methodology that favors CEFs that trades at discount. CEFs trading at higher discount receives greater weight. CEFD holds three flavors of CEFs domiciled in the US, namely Investment-grade fixed income, high-yield fixed income and equity covered-call strategies. As a geared product, CEFD is designed as a short-term trading tool and not a long-term investment vehicle, so long-term returns could materially differ from those of the underlying index.

PERFORMANCE [as of 09/22/21] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
CEFD -1.18% 1.40% 18.86% 38.21% -- -- --
CEFD (NAV) -0.38% 1.89% 19.80% 39.04% -- -- --
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

CEFD Summary Data

UBS
ETRACS
06/02/20
Exchange-Traded Note
0.95%
$32.13M
0.27%

CEFD Portfolio Data

10.14%
11/10/20

CEFD Index Data

Multi-Factor
Multi-Factor
N/A

CEFD Fund Structure

Yes
--
-- / --
UBS AG (London Branch)
Low
Medium
1.5
Quarterly

CEFD Tax Exposures

20.00% / 39.60%
--
No

CEFD Factset Analytics Block Liquidity

As of 09/23/21
5
4
3
2
1

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

CEFD Tradability

408
$11.56K
112
0
0.27%
$0.09
-0.07%
0.57% / -1.05%
None
100.00%
50,000
0.00
--
--
0
$32.39
N/A