ETRACS 2x Leveraged US Value Factor TR ETN (IWDL)
ETRACS 2x Leveraged US Value Factor TR ETN operates in the Asset Management - Leveraged industry of the Financial Services sector, headquartered in New York, NY, US. The stock last traded at $69.80, down 0.10% on the session, giving a market capitalisation of $13.8M. Its beta of 1.61 implies it has historically moved more than the broad market.
IWDL is an Exchange Traded Note (ETN) designed to provide investors with double the leveraged exposure to the value segment within the US large-cap equity market. Its performance is tied to the total return variant of the Russell 1000 Value index, which is composed of firms characterized by lower price-to-book ratios and more modest growth projections. This instrument recalibrates its leverage quarterly. Importantly, as a leveraged product, IWDL is not suited for long-term holding; its intended leveraged returns are typically consistent only over a single day. Furthermore, given its structure as an ETN, investors also bear the credit risk associated with its issuer, UBS.
ETRACS 2x Leveraged US Value Factor TR ETN is most often compared with the following Financial Services names: