ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL)
ETRACS 2x Leveraged MSCI US Momentum 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 $57.17, up 4.46% on the session, giving a market capitalisation of $11.1M. Its beta of 2.46 implies it has historically moved more than the broad market.
MTUL delivers twice the daily performance of an index that tracks large and mid-capitalization U.S. companies demonstrating strong price momentum. This momentum is calculated from a combination of 12-month and 6-month price performance, which is then risk-adjusted over a three-year period to determine a momentum score. Securities with the highest scores are selected and weighted based on the product of their market capitalization within the parent index and their momentum score, with a maximum 5% weight per security. The index generally encompasses approximately 30% of the parent index's market capitalization. As a 2x leveraged product with quarterly resets, MTUL is designed purely for short-term trading strategies, not for long-term investment, as compounding effects can lead to substantial differences in long-term returns compared to the underlying index. Furthermore, as an exchange-traded note, holders are exposed to the credit risk of UBS.
ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN is most often compared with the following Financial Services names: