SMHBETRACS 2xMonthly Pay Leveraged U.S. Small Cap High Dividend ETN Series B
SMHB Fund Description
SMHB tracks twice the monthly returns of a dividends selected, liquidity weighted index of U.S. small cap equities.
SMHB Factset Analytics Insight
SMHB is a leveraged take on dividend-paying US small caps. The ETN’s underlying index selects from the 2000 smallest companies on the list of the 3000 largest US stocks, measured by market cap. From this selection pool, the index selects 100 small-caps with the highest estimated 12-month forward dividend yield. Selected constituents are weighted by 3-month average daily dollar volume, with a cap of 5% for any single selection. SMHB applies a 2x leverage factor to this index, reset monthly. This infrequent reset period makes the note suitable for longer holdings periods than a daily-reset product, though investors will still feel the effects of compounding over time. The note pays a monthly coupon equal to twice the yield of the underlying index.SMHB is a replacement (“Series B”) for sibling SMHD, which was still trading but closed for creations as of the note’s launch. Among several minor differences, SMHB includes a feature where the note’s leverage will reset if the underlying index falls by 20% from the previous month, including intraday.
SMHB MSCI ESG Analytics Insight
ETRACS 2xMonthly Pay Leveraged U.S. Small Cap High Dividend ETN Series B has an MSCI ESG Fund Rating of undefined based on a score of 5.23 out of 10. The MSCI ESG Fund Rating measures the resiliency of portfolios to long-term risks and opportunities arising from environmental, social, and governance factors. ESG Fund Ratings range from best (AAA) to worst (CCC). Highly rated funds consist of companies that tend to show strong and/or improving management of financially relevant environmental, social and governance issues. These companies may be more resilient to disruptions arising from ESG events.
The fund’s Peer Rank reflects the ranking of a fund’s MSCI ESG Fund Quality Score against the scores of other funds within the same peer group, as defined by the Thomson Reuters Lipper Global Classification. ETRACS 2xMonthly Pay Leveraged U.S. Small Cap High Dividend ETN Series B ranks in the 41st percentile within its peer group and in the 47th percentile within the global universe of all funds covered by MSCI ESG Fund Ratings.
SMHB CHARTS AND PERFORMANCE
SMHB Portfolio Data
SMHB Index Data
SMHB Fund Structure
SMHB Tax Exposures
SMHB Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of SMHB. SMHB is rated a N/A out of 5.