FIEEUBS AG FI Enhanced Europe 50 ETN
FIEE Fund Description
The UBS AG FI Enhanced Europe 50 ETN tracks a 2x leveraged version of an index of 50 mega-cap European companies derived from the STOXX 600 Index.
FIEE Factset Analytics Insight
FIEE provides 2x quarterly returns on the STOXX Europe 50 USD Index of 50 mega-cap European firms. The geographic coverage here is “Europe” not “euro”, so the U.K., Switzerland and Sweden are part of the mix. The note's leverage resets quarterly, so unless you buy on a reset date (the first trading day of each calendar quarter) your exposure to the index won't exactly equal 2x. Also, holding the note beyond the next reset date means exposing yourself to the path-dependency issues that all leveraged ETPs have. (Unlevered exposure can be had with SSgA’s FEU).FIEE is expensive to hold, but as a short-term trading product, the note's trading costs may be more significant. As an ETN, FIEE does not hold any underlying assets and is backed only by the full faith and credit of UBS. The FI in the note's name stands for Fisher Investments, for whom the product was created. Also consider FEEU, a near-identical product from Barclays which tracks the same index and resets its leverage based on price-level triggers rather than a fixed schedule.
FIEE CHARTS AND PERFORMANCE
FIEE Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of FIEE. FIEE is rated a N/A out of 5.