UBS ETRACS 2xMonthly Leveraged Alerian MLP Infrastructure Index ETN SeriesB
MLPQ
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- United States of America
- IPO Date
- Feb 8, 2016
- Similar Companies
- Business
- UBS ETRACS 2xMonthly Leveraged Alerian MLP Infrastructure Index ETN Series B (NYSE Arca: MLPQ) is a senior unsecured debt obligation issued by UBS AG that provides two times (2x) leveraged long exposure to the compounded monthly performance of the Alerian MLP Infrastructure Index, less investor fees. The ETN seeks to deliver amplified monthly returns based on the price performance of the underlying index, which tracks master limited partnerships (MLPs) focused on midstream energy infrastructure activities such as the transportation, storage, and processing of energy commodities; it does not hold physical assets but rather offers leveraged synthetic exposure through UBS AG's credit obligation. As an exchange-traded note traded on NYSE Arca, MLPQ targets institutional and retail investors seeking enhanced yield potential from the MLP sector within tax-advantaged accounts, given its structure results in ordinary income taxation on coupons. The core offering includes leveraged tracking of the Alerian MLP Infrastructure Index, a capped, float-adjusted, capitalization-weighted benchmark comprising energy infrastructure MLPs deriving the majority of cash flows from midstream operations involving crude oil, natural gas, and related commodities; potential variable coupons linked to twice the distributions from index constituents, net of fees and withholding taxes, though payments are not guaranteed and vary with underlying distributions. Key terms encompass an annual tracking fee of approximately 0.85%-0.95% accrued daily, a maturity date of February 12, 2046, and CUSIP 90274D259, with initial trading commencing around 2016 as part of UBS's ETRACS product suite. UBS AG, headquartered in Zurich, Switzerland, issues the ETN as part of its broader ETRACS platform offering structured exposure to commodities, equities, and income strategies across more than 50 global markets. In recent developments, UBS has maintained ongoing coupon declarations for MLPQ and related ETRACS ETNs, including payments announced as late as December 2025, underscoring continued operational support amid variable yields annualized around 6-12% for similar products. The issuer has executed portfolio optimizations, such as exchange offers for Series B ETNs (including MLPQ's structure) in 2019-2020 to extend maturities and enhance liquidity, with no mandatory redemptions specific to MLPQ reported through late 2025 despite delistings of other legacy ETNs in 2024. MLPQ remains actively listed with recent indicative values and performance tracking intact, reflecting UBS's strategic focus on midstream energy infrastructure amid sector growth in North American energy commodities.