ProShares and UBS ETRACS, begun trading two new Triple Leveraged ETNs, the UBS ETRACS – ProShares Daily 3x Long Crude ETN (Nyse Arca: WTIU) and the UBS ETRACS – ProShares Daily 3x Inverse Crude ETN (Nyse Arca: WTID), on Wednesday, January 04, 2017. Here is a synopsis of the new ETNs:

1.
FUND INFORMATION:

Symbol: WTIU	Exchange: NYSE ARCA
Name: UBS ETRACS – ProShares Daily 3x Long Crude ETN	Net Expense Ratio: 1.45%

 

FUND OBJECTIVE:
The UBS ETRACS – ProShares Daily 3x Long Crude ETN are Series B senior unsecured debt securities, maturing on January 4, 2047, issued by UBS AG (UBS) that provide positive 3 times leveraged exposure to the performance of the Bloomberg WTI Crude Oil Subindex ER (reduced by the Annual Tracking Fee).

 

 

 

 

2.
FUND INFORMATION:

Symbol: WTID	Exchange: NYSE ARCA
Name: UBS ETRACS – ProShares Daily 3x Inverse Crude ETN	Net Expense Ratio: 1.85%

 

FUND OBJECTIVE:
The UBS ETRACS – ProShares Daily 3x Inverse Crude ETN are Series B senior unsecured debt securities, maturing on January 4, 2047, issued by UBS AG (UBS) that provide negative 3 times leveraged exposure to the performance of the Bloomberg WTI Crude Oil Subindex ER (reduced by the Annual Tracking Fee).

REFERENCE INDEX:
The Bloomberg WTI Crude Oil Subindex ER is designed to measure the returns that are potentially available through an unleveraged investment in rolling West Texas Intermediate crude oil futures contracts that trade on major U.S. exchanges. The Index is a subindex of the excess return version of the Bloomberg Commodity Index (BCOM) and a member of the Bloomberg Commodity Index Family.
The futures contracts used to calculate the level of the Index are never held to delivery, and are instead rolled forward into replacement contracts every other month. The performance of the Index is primarily determined by changes in price of the futures contract(s) referenced by the Index, the timing of the roll and the relative prices of the incoming contract and the outgoing contract. The WTI crude oil futures contracts tracked by the Index roll approximately every other month to the contract that is approximately two months longer in maturity. The Index provides investors with a benchmark for rolling futures contracts in this single commodity.

 

 

 

Useful Links:
WTIU Home Page
WTID Home Page

 

 

Category: Commodities> Energy> WTIC Oil