ETRACS 2x Leveraged US Growth Factor TR ETN (IWFL)
ETRACS 2x Leveraged US Growth 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 $61.44, up 0.00% on the session, giving a market capitalisation of $12.6M. Its beta of 2.33 implies it has historically moved more than the broad market.
IWFL offers double-leveraged investment exposure to the U.S. large-cap equity sector, specifically targeting companies identified as more growth-oriented than the overall market. Its performance is tied to the total return iteration of the Russell 1000 Growth index, which comprises businesses exhibiting elevated price-to-book valuations and robust projected growth. This product's leverage is rebalanced quarterly. Given its leveraged design, IWFL is unsuitable for long-term holding and should not be expected to replicate index-leveraged returns beyond a single day. As an exchange-traded note, investors also assume the credit risk of UBS. The underlying index undergoes annual reconstitution.
ETRACS 2x Leveraged US Growth Factor TR ETN is most often compared with the following Financial Services names: