- Issuer
- UBS
- Inception Date
- Jun 2, 2020
- Category
- Leveraged
- 1.5x
- Index Tracked
- S-Network Composite Closed-End Fund Index (150%)
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
- Assets Under Management
- $8M
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
CEFD Performance Chart
ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN (CEFD) is up 6.4% since the beginning of the year. CEFD is currently trading at $19 per share. Investors who bought $1,000 worth of CEFD shares 5 years ago would now be looking at an investment worth $1,167.
Loading charts...
Returns By Period
ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN (CEFD) has returned 6.43% so far this year and 17.87% over the past 12 months.
ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN
- 1D
- -0.43%
- 1M
- 1.72%
- YTD
- 6.43%
- 6M
- 7.27%
- 1Y
- 17.87%
- 3Y*
- 15.31%
- 5Y*
- 3.14%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
CEFD Monthly Returns History
Based on dividend-adjusted daily data since Jun 3, 2020, CEFD's average daily return is +0.04%, while the average monthly return is +0.87%. At this rate, an investment would double in approximately 6.7 years.
Historically, 60% of months were positive and 40% were negative. The best month was Nov 2020 with a return of +15.8%, while the worst month was Sep 2022 at -16.2%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 3 months.
On a daily basis, CEFD closed higher 56% of trading days. The best single day was Apr 9, 2025 with a return of +9.7%, while the worst single day was Apr 4, 2025 at -8.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.74% | 0.48% | -8.24% | 9.20% | 3.91% | -0.98% | 6.43% | ||||||
| 2025 | 5.24% | -0.86% | -4.29% | -3.20% | 5.46% | 4.95% | 1.17% | 3.07% | 1.11% | 1.13% | 0.02% | 0.03% | 14.15% |
| 2024 | 2.85% | 3.33% | 3.41% | -6.07% | 5.66% | 2.85% | 2.64% | 2.81% | 3.61% | -2.14% | 4.02% | -3.83% | 20.06% |
| 2023 | 12.48% | -4.01% | -4.82% | 0.45% | -3.38% | 5.46% | 3.33% | -3.12% | -5.89% | -7.08% | 12.93% | 4.21% | 8.36% |
| 2022 | -7.30% | -5.34% | 1.60% | -9.08% | -0.62% | -10.49% | 10.94% | -2.59% | -16.18% | 7.23% | 8.71% | -6.65% | -28.93% |
| 2021 | -0.17% | 2.86% | 5.07% | 4.77% | 2.85% | 2.70% | -0.15% | 2.37% | -3.69% | 4.12% | -3.35% | 3.22% | 22.09% |
Benchmark Metrics
ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN has an annualized alpha of -2.91%, beta of 0.81, and R2 of 0.64 versus S&P 500 Index. Calculated based on daily prices since June 03, 2020.
- This ETF participated in 123.25% of S&P 500 Index downside but only 95.67% of its upside - more exposed to losses than it benefited from rallies.
- This ETF had an annualized alpha of -2.91% versus S&P 500 Index - delivering less than market exposure alone would predict.
- Alpha
- -2.91%
- Beta
- 0.81
- R²
- 0.64
- Upside Capture
- 95.67%
- Downside Capture
- 123.25%
Expense Ratio
CEFD has a high expense ratio of 0.95%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
CEFD ranks 38 for risk / return — below 38% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN (CEFD) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CEFD | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.37 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.44 | 2.78 | -1.35 |
| Martin ratioReturn relative to average drawdown | 6.59 | 12.44 | -5.85 |
Dividends
Dividend History
ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN provided a 14.71% dividend yield over the last twelve months, with an annual payout of $2.80 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Dividend | $2.80 | $2.86 | $2.72 | $2.76 | $3.30 | $3.31 | $1.57 |
Dividend yield | 14.71% | 14.88% | 13.90% | 14.76% | 16.56% | 10.31% | 5.37% |
Monthly Dividends
The table displays the monthly dividend distributions for ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.28 | $0.20 | $0.22 | $0.26 | $0.22 | $0.22 | $1.40 | ||||||
| 2025 | $0.30 | $0.22 | $0.23 | $0.29 | $0.20 | $0.22 | $0.27 | $0.21 | $0.22 | $0.27 | $0.21 | $0.22 | $2.86 |
| 2024 | $0.26 | $0.16 | $0.19 | $0.25 | $0.18 | $0.19 | $0.29 | $0.21 | $0.23 | $0.29 | $0.22 | $0.23 | $2.72 |
| 2023 | $0.35 | $0.19 | $0.23 | $0.27 | $0.23 | $0.20 | $0.25 | $0.21 | $0.21 | $0.26 | $0.19 | $0.18 | $2.76 |
| 2022 | $0.49 | $0.22 | $0.25 | $0.32 | $0.27 | $0.23 | $0.30 | $0.25 | $0.23 | $0.29 | $0.24 | $0.22 | $3.30 |
| 2021 | $0.36 | $0.20 | $0.25 | $0.30 | $0.25 | $0.27 | $0.31 | $0.26 | $0.26 | $0.33 | $0.27 | $0.25 | $3.31 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Loading charts...
Worst Drawdowns
The table below displays the maximum drawdowns of the ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN was 36.95%, occurring on Oct 25, 2023. Recovery took 446 trading sessions.
The current ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN drawdown is 0.98%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2023 bear market2023 | -36.95%Oct 2023 | 1y 11mo | 1y 9mo | 3y 9moNov 2021 - Aug 2025 |
2026 correction2026 | -12.51%Mar 2026 | 1mo 16d | 1mo 2d | 2mo 18dFeb 2026 - May 2026 |
2020 pullback2020 | -7.88%Oct 2020 | 1mo 27d | 11d | 2mo 8dSep 2020 - Nov 2020 |
2020 pullback2020 | -7.10%Jun 2020 | 2d | 1mo 18d | 1mo 20dJun 2020 - Jul 2020 |
2025 pullback2025 | -5.01%Nov 2025 | 1mo 12d | 1mo 6d | 2mo 18dOct 2025 - Dec 2025 |
Drawdown Indicators
| CEFD | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.95% | -56.78% | +19.83% |
Max Drawdown (1Y)Largest decline over 1 year | -12.51% | -9.10% | -3.41% |
Max Drawdown (3Y)Largest decline over 3 years | -21.76% | -18.90% | -2.86% |
Max Drawdown (5Y)Largest decline over 5 years | -36.95% | -25.43% | -11.52% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.98% | -1.80% | +0.82% |
Average DrawdownAverage peak-to-trough decline | -11.64% | -10.71% | -0.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.72% | 2.03% | +0.69% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with CEFD
Add ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with CEFD