UBS begun trading the ETRACS Monthly Pay 2xLeveraged MSCI US REIT Index ETN (NYSE Arca: LRET) on Wednesday, May 06, 2015.
Here is a synopsis of the new ETN:
|Symbol: LRET||Exchange: NYSE Arca|
|Name: ETRACS Monthly Pay 2xLeveraged MSCI US REIT Index ETN||Net Expense Ratio: 0.85%|
The ETRACS Monthly Pay 2xLeveraged MSCI US REIT Index ETN is an exchange-traded note linked to the monthly compounded 2x leveraged performance (200%) of the MSCI US REIT Index, less investor fees.
The MSCI US REIT Index is a free float‐adjusted market capitalization weighted index that is comprised of US equity REIT securities. The Index includes securities with exposure to core real estate (e.g. residential and retail properties) as well as securities with exposure to other types of real estate (e.g.casinos and theaters). The Index was created on June 20, 2005, and therefore, has no performance history prior to that date. As of March 31, 2015, the Index included 140 companies.
– Monthly compounded 2x leveraged exposure to the MSCI US REIT Index, less investor fees.
– Significant income potential in the form of a variable monthly coupon linked to 2x the cash distributions, if any, on the Index constituents. As of April 30, the doubled index yield for LRET’s underlying index was 7.45%.
– Leverage that is reset monthly, not daily.
Index Top Components (03/31/15):
|SIMON PROPERTY GROUP||SPG||8.48%|
|HEALTH CARE REIT||HCN||3.74%|
|VORNADO REALTY TRUST||VNO||2.64%|
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