IWML 21.77 ETRACS 2x Leveraged US Size Factor TR ETN
| Range: | 10.3-23.31 | Vol Avg: | 3044 | Last Div: | 0 | Changes: | -0.14 |
| Beta: | 2.17 | Cap: | 0.01B | Currency: | USD | Exchange: | AMEX |
| Sector: | Financial Services | IPO: | Tue Feb 09 2021 | Empoloyees: | |||
| CUSIP: | 90278V404 | CIK: | 0001114446 | ISIN: | US90278V4041 | Country: | US |
As a levered product, IWML is not a buy-and-hold ETN, it's a short-term tactical instrument designed to provide 2x exposure to the Russell 2000. The underlying index consists primarily of small-caps, but also drifts into midcaps and heavily into micro-caps, overall representing approximately 10% of the total market. Like many levered funds, IWML delivers 2x exposure only for one day. The fund also resets its leverage quarterly. Keep in mind this is an exchange-traded note, as such, investors also assume the credit risk of UBS. Index reconstitution is done annually.
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