UBS ETRACS CMCI Agriculture Total Return ETN (UAG) is an exchange-traded note issued by UBS AG that seeks to track the price and performance yield, before fees and expenses, of the UBS Bloomberg CMCI Agriculture Total Return Index. The ETN provides exposure to a diversified basket of agricultural commodities through futures contracts, including key components such as corn, soybeans, sugar, wheat, coffee, cotton, soybeans oil, and Kansas City wheat, representing the broader agriculture commodity markets. It operates as a senior unsecured debt obligation of UBS AG, traded on NYSE Arca, with a scheduled maturity date of April 5, 2038.
Launched on April 1, 2008, the ETN is domiciled in Switzerland and headquartered through its issuer UBS AG in Zurich, with global operations facilitated via U.S. exchanges and international investor access. As part of UBS's broader ETRACS suite of exchange-traded notes, UAG targets investors seeking total return performance from agriculture futures, subject to the credit risk of UBS AG and commodity market volatility.
In recent developments, UBS has continued active management of its ETRACS portfolio, including coupon payments announced on April 7, 2025, for multiple ETNs and further declarations on December 4, 2025, though UAG-specific payments align with its total return structure without guaranteed distributions. The issuer has executed redemptions of various ETNs, such as seven series in November 2024, but UAG remains listed among legacy products without announced early call or mandatory redemption as of late 2025; however, ETF Database notes it as no longer active in certain tracking contexts. UBS integrated Credit Suisse operations post-2023 acquisition, enhancing its ETRACS offerings under unified branding.