ETRACS Silver Shares Covered Call ETNs due April 21, 2033ETRACS Silver Shares Covered Call ETNs due April 21, 2033ETRACS Silver Shares Covered Call ETNs due April 21, 2033

ETRACS Silver Shares Covered Call ETNs due April 21, 2033

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Key stats


Assets under management (AUM)
‪179.64 M‬USD
Fund flows (1Y)
‪11.35 M‬USD
Dividend yield (indicated)
26.51%
Discount/Premium to NAV
1.4%

About ETRACS Silver Shares Covered Call ETNs due April 21, 2033


Issuer
UBS Group AG
Brand
ETRACS
Expense ratio
0.65%
Inception date
Apr 16, 2013
Index tracked
Credit Suisse NASDAQ Silver FLOWS 106 Index
Management style
Passive
SLVO is neither the choice for those looking for exposure to physical silver nor does it provide pure exposure to silver futures. SLVO is structured as an ETN so it promises to track silver (and options on silver), not to hold it. Furthermore, its index has a notional short call position against the notional long position in the physically backed silver ETF, SLV. The calls are set to about 106% of the SLV`s price level. The covered call strategy gives investors indirect exposure to silver, but with limited upside as the nominal long position will get called away in periods of sharply rising prices or in volatile market environments. The tradeoff is yield as premiums from writing calls on an otherwise yield-less asset. SLVO aims to distribute the yield monthly, atypical for an ETN. Prior to May 31, 2024 the Issuer and counterparty credit risk of this ETN was Credit Suisse AG.

Classification


Asset Class
Commodities
Category
Precious metals
Focus
Silver
Niche
Physically held
Strategy
Buy-write
Weighting scheme
Fixed
Selection criteria
Fixed

Returns


1 month3 monthsYear to date1 year3 years5 years
Price performance
NAV total return

Dividends


Dividend payout history

Assets under management (AUM)



Fund Flows