ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN
MTUL
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- ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL) is an exchange-traded note issued by UBS AG that provides two times leveraged long exposure to the compounded quarterly performance of the MSCI USA Momentum GR USD Index, less investor fees, financing costs, and an annual tracking fee of 0.95%; the underlying total return index reflects an equity momentum strategy over the MSCI USA Index by emphasizing U.S. large- and mid-cap stocks with high price momentum, reasonable trading liquidity, investment capacity, and moderate turnover. Traded on NYSE Arca under the ticker MTUL with CUSIP 90278V602, the ETN matures on February 9, 2051, features an annual financing fee rate based on 3m CME Term SOFR plus adjustments, and targets sophisticated investors seeking amplified returns from momentum factor strategies in the U.S. equity market. Launched with initial trade date of February 5, 2021, it operates as part of the UBS ETRACS suite of structured investment products offering access to specialized market indices. UBS AG, the issuer and a global financial services firm headquartered in Zurich, Switzerland with key Americas operations based in New York City, maintains the ETRACS brand for its exchange-traded notes listed primarily on NYSE Arca and Nasdaq; the firm provides a broad range of ETNs including leveraged, inverse, commodity-linked, and factor-based products across equity, fixed income, and alternative asset classes. In recent developments, UBS assumed three outstanding Credit Suisse ETNs in May 2024 and rebranded them under the ETRACS name, expanding its product portfolio through integration following the UBS-Credit Suisse merger; the firm also announced redemptions of several ETRACS ETNs including leveraged and sector-specific notes in December 2024, alongside routine coupon declarations on multiple series throughout 2025 to manage its ETN issuances. These actions reflect UBS's ongoing portfolio optimization, with no specific changes reported for MTUL amid stable performance and continued trading.