ETRACS 2x Leveraged MSCI US Quality Factor TR ETN (QULL)
ETRACS 2x Leveraged MSCI US Quality 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 $64.99, down 2.26% on the session, giving a market capitalisation of $6.7M. Its beta of 1.96 implies it has historically moved more than the broad market.
QULL, an ETRACS Exchange-Traded Note, aims to deliver twice the daily performance of the MSCI USA Sector Neutral Quality Index. This benchmark is comprised of U.S. large and mid-capitalization stocks that demonstrate top-tier quality scores when compared to others within their specific industry groups. The index meticulously evaluates constituents of the MSCI USA Index (its parent universe) across each GICS sector, assigning a quality score based on three core fundamental metrics: return on equity, debt-to-equity ratios, and earnings variability. Securities achieving the highest quality scores are chosen, and their weighting is calculated by multiplying their market capitalization weight from the parent index by their determined quality score, with a 5% cap on any single security. Given its leveraged structure and quarterly rebalancing, QULL is intended purely as a short-term trading instrument, not a long-term investment vehicle; consequently, its long-term returns could significantly diverge from the underlying index due to compounding effects. Furthermore, as an Exchange-Traded Note, QULL exposes holders to the credit risk of its issuer, UBS.
ETRACS 2x Leveraged MSCI US Quality Factor TR ETN is most often compared with the following Financial Services names: