DVHL

ETRACS Monthly Pay 2xLeveraged Diversified High Income ETN
*Unless otherwise stated, data provided by FactSet.

DVHL Fund Description

DVHL seeks 2x the monthly return of an index of high-income securities. The index includes BDCs, MLPs, REITs, and US equities, as well as ETFs holding international equities and global fixed income. The note pays a monthly coupon.

DVHL Factset Analytics Insight

DVHL tracks a multi-asset income index but raises the stakes with a 2x leverage factor. The ETN provides "all of the above" exposure to income-oriented securities. The portfolio allocates a fixed 60% stake to equity, with equal (15% each) exposure to MLPs, REITs, BDCs, and high-yielding stocks. The remaining 40% goes toward fixed income, with equal (10% each) exposure to preferred stock, junk bonds, emerging-market bonds, and munis. Layered on top of this strategy is a 2x leverage factor with monthly resets. Like any levered product, DVHL delivers strict 2x exposure only when your time horizon aligns with the reset period. Over longer intervals, the note's returns are likely to vary significantly from the 2x multiple, and will tend to underperform during periods of volatility. However, it’s more suitable for longer holding periods than most geared ETPs, which reset daily. Still, the note’s high fee is an obstacle to buy-and-hold positions. Unlike most ETNs, DVHL pays a monthly coupon, consistent with its income-producing mandate. Caution is advisable on entry and exit, as DVHL trades with only middling volume and significant spreads most days.

DVHL Charts And Performance

  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
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Select ETFs to compare their performance:
PERFORMANCE [as of 11/14/19] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
DVHL -0.44% 4.62% 21.45% 8.56% 7.44% 5.41% --
DVHL (NAV) -0.12% 4.85% 21.33% 8.45% 7.55% 5.45% --
NYSE Diversified High Income Index -0.64% 0.98% 5.96% -0.68% -1.40% -2.72% --
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

DVHL Summary Data

UBS
ETRACS
11/12/13
Exchange-Traded Note
1.25%
$20.33M
0.41%

DVHL Portfolio Data

14.87%
07/11/19

DVHL Index Data

Fixed
Fixed
N/A

DVHL Fund Structure

No
N/A
N/A / N/A
UBS AG (London Branch)
Low
High
2
Monthly

DVHL Tax Exposures

20.00% / 39.60%
--
No
Cboe Book Viewer
Top Of Book
Last 10 Trades
Bats BZX Real-time Quote -

DVHL Factset Analytics Block Liquidity

As of 11/15/19
5
4
3
2
1

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

DVHL Tradability

7,125
$122.56K
5,799
$98.96K
0.41%
$0.07
-0.02%
0.32% / -0.99%
Potential
0.00%
50,000
0.12
0.13%
--
0
$16.67
N/A