ETRACS 2x Leveraged US Dividend Factor TR ETN (SCDL)
ETRACS 2x Leveraged US Dividend 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 $60.80, down 0.00% on the session, giving a market capitalisation of $11.9M. Its beta of 1.19 implies it has historically moved more than the broad market.
SCDL provides 2x leveraged exposure to the Dow Jones US Dividend 100 Index. This market-capitalization-weighted benchmark systematically excludes Real Estate Investment Trusts and screens for companies with a consistent dividend payment history of at least ten years. The portfolio's selection is guided by several key fundamental metrics, including cash-flow to debt ratio, return on equity (ROE), dividend yield, and dividend growth rates. This investment methodology often leads to a slight large-cap bias and distinct sector allocations, favoring industrial and consumer-oriented firms while having reduced exposure to financials. A key differentiator for SCDL, compared to other ETNs, is that it does not pay any coupon and resets its leverage quarterly, rather than daily. Furthermore, akin to all ETNs, SCDL's value is dependent on the credit risk of its issuing bank, UBS, and is not directly backed by underlying stocks. The index it tracks is reviewed annually and rebalanced every quarter.
ETRACS 2x Leveraged US Dividend Factor TR ETN is most often compared with the following Financial Services names: