MRRL

ETRACS Monthly Pay 2xLeveraged Mortgage REIT ETN Series B
*Unless otherwise stated, data provided by FactSet.

MRRL Fund Description

MRRL provides 2x levered exposure to a cap-weighted index of US and non-US REITS that derive at least 50% of their revenues from mortgage-related activity.

MRRL Factset Analytics Insight

MRRL—an ETN—aims to provide 200% of the monthly returns of a market-cap-weighted index of global mortgage REITS. The note launched on Oct. 9, 2015 as a B Series companion to popular MORL, providing more capacity for identical exposure. The note, which is merely a promise to pay the index’s leveraged return—as opposed to holding the actual mortgage REITs in the index—provides its promised exposure over 1 month. The monthly reset means investors holding it for longer than a month may fall victim to the effects of compounding, which could cause returns to drift from the product’s intended 2x returns. The basket of mortgage REITs MRRL tracks pays a juicy yield, something that’s amplified by the 2x leverage factor. The risks are many, however: The embedded leverage in mortgage REITs is exacerbated by the fund’s 200% exposure. Moreover, as an ETN, MRRL has the counterparty risk of UBS.

MRRL CHARTS AND PERFORMANCE

  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
COMPARE
RESET
Select ETFs to compare their performance:
PERFORMANCE [as of 01/18/19] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
MRRL 5.42% 0.88% 12.17% 6.12% 35.55% -- --
MRRL (NAV) 5.16% 0.60% 12.19% 6.11% 33.63% -- --
MVIS US Mortgage REITs Index 3.34% 1.46% 6.47% 6.01% 17.77% 9.19% --
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

MRRL Summary Data

UBS
ETRACS
10/08/15
Exchange-Traded Note
0.80%
$68.75M
0.33%

MRRL Portfolio Data

22.74%
01/11/19

MRRL Index Data

Market Cap
Market Cap
N/A

MRRL Fund Structure

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

MRRL Tax Exposures

20.00% / 39.60%
--
No
Bats Book Viewer
TOP OF BOOK
LAST 10 TRADES
Bats BZX Real-time Quote -
Daily Spread
Premium/Discount
Volume

MRRL Factset Analytics Block Liquidity

As of 01/22/19
5
4
3
2
1

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

MRRL Tradability

113,850
$1.54M
93,069
$1.24M
0.33%
$0.05
0.04%
1.97% / -1.75%
None
0.00%
50,000
1.86
0.13%
--
--
$13.42
N/A