- Issuer
- UBS
- Inception Date
- Feb 5, 2021
- Region
- North America (U.S.)
- Category
- Leveraged Equities
- Leveraged
- 2x
- Index Tracked
- Russell 1000 Value (200%)
- Distribution Policy
- Accumulating
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
- Assets Under Management
- $6M
Share Price Chart
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Performance
IWDL Performance Chart
ETRACS 2x Leveraged US Value Factor TR ETN (IWDL) is up 30.7% since the beginning of the year. IWDL is currently trading at $63 per share. Investors who bought $1,000 worth of IWDL shares 5 years ago would now be looking at an investment worth $2,023.
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Returns By Period
ETRACS 2x Leveraged US Value Factor TR ETN (IWDL) has returned 30.74% so far this year and 58.75% over the past 12 months.
ETRACS 2x Leveraged US Value Factor TR ETN
- 1D
- 0.51%
- 1M
- 5.72%
- YTD
- 30.74%
- 6M
- 29.25%
- 1Y
- 58.75%
- 3Y*
- 30.67%
- 5Y*
- 15.13%
- 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%
IWDL Monthly Returns History
Based on dividend-adjusted daily data since Feb 5, 2021, IWDL's average daily return is +0.09%, while the average monthly return is +1.75%. At this rate, an investment would double in approximately 3.3 years.
Historically, 63% of months were positive and 37% were negative. The best month was Oct 2022 with a return of +20.2%, while the worst month was Jun 2022 at -19.1%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 3 months.
On a daily basis, IWDL closed higher 53% of trading days. The best single day was Apr 9, 2025 with a return of +16.5%, while the worst single day was Apr 4, 2025 at -12.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 8.45% | 4.41% | -9.86% | 16.70% | 5.05% | 4.50% | 30.74% | ||||||
| 2025 | 8.83% | 0.18% | -5.59% | -7.10% | 6.61% | 6.13% | 0.08% | 6.10% | 2.44% | 0.42% | 4.80% | 0.94% | 25.02% |
| 2024 | -0.14% | 6.76% | 8.93% | -8.58% | 5.39% | -2.25% | 9.56% | 4.59% | 2.08% | -2.71% | 12.53% | -13.84% | 20.68% |
| 2023 | 9.15% | -7.06% | -2.05% | 2.63% | -8.27% | 13.43% | 5.99% | -5.74% | -8.47% | -7.78% | 15.03% | 10.28% | 13.50% |
| 2022 | -5.07% | -2.77% | 6.31% | -12.04% | 4.03% | -19.12% | 13.28% | -5.71% | -17.60% | 20.16% | 10.63% | -7.33% | -21.27% |
| 2021 | 2.49% | 11.19% | 7.09% | 4.54% | -2.42% | 1.26% | 3.89% | -6.78% | 10.02% | -7.14% | 12.52% | 40.35% |
Benchmark Metrics
ETRACS 2x Leveraged US Value Factor TR ETN has an annualized alpha of -0.52%, beta of 1.60, and R2 of 0.80 versus S&P 500 Index. Calculated based on daily prices since February 05, 2021.
- This ETF captured 185.79% of S&P 500 Index gains and 151.39% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- Beta of 1.60 means this ETF moves significantly more than S&P 500 Index - expect amplified gains in rallies and amplified losses in downturns.
- Alpha
- -0.52%
- Beta
- 1.60
- R²
- 0.80
- Upside Capture
- 185.79%
- Downside Capture
- 151.39%
Expense Ratio
IWDL has a high expense ratio of 0.95%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
IWDL ranks 82 for risk / return — in the top 82% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for ETRACS 2x Leveraged US Value Factor TR ETN (IWDL) 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.
| IWDL | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.37 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 4.36 | 2.78 | +1.58 |
| Martin ratioReturn relative to average drawdown | 17.83 | 12.44 | +5.39 |
Dividends
Dividend History
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the ETRACS 2x Leveraged US Value Factor TR 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 2x Leveraged US Value Factor TR ETN was 37.95%, occurring on Sep 30, 2022. Recovery took 374 trading sessions.
The current ETRACS 2x Leveraged US Value Factor TR ETN drawdown is 0.48%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -37.95%Sep 2022 | 8mo 20d | 1y 6mo | 2y 2moJan 2022 - Mar 2024 |
2025 selloff2025 | -31.78%Apr 2025 | 4mo 7d | 5mo 6d | 9mo 13dDec 2024 - Sep 2025 |
2026 correction2026 | -13.53%Mar 2026 | 27d | 18d | 1mo 15dMar 2026 - Apr 2026 |
2021 correction2021 | -11.09%Dec 2021 | 22d | 26d | 1mo 18dNov 2021 - Dec 2021 |
2024 correction2024 | -10.69%Apr 2024 | 17d | 2mo 29d | 3mo 16dApr 2024 - Jul 2024 |
Drawdown Indicators
| IWDL | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.95% | -56.78% | +18.83% |
Max Drawdown (1Y)Largest decline over 1 year | -13.53% | -9.10% | -4.43% |
Max Drawdown (3Y)Largest decline over 3 years | -31.78% | -18.90% | -12.88% |
Max Drawdown (5Y)Largest decline over 5 years | -37.95% | -25.43% | -12.52% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.48% | -1.80% | +1.32% |
Average DrawdownAverage peak-to-trough decline | -10.51% | -10.71% | +0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 2.03% | +1.27% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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