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Issuer
UBS
Inception Date
Feb 5, 2021
Region
North America (U.S.)
Leveraged
2x
Index Tracked
MSCI USA Momentum Index
Distribution Policy
Accumulating
Asset Class
Equity
Asset Class Size
Large-Cap
Asset Class Style
Growth
Assets Under Management
$9M

Share Price Chart


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Performance

MTUL Performance Chart

ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL) is up 78.5% since the beginning of the year. MTUL is currently trading at $67 per share. Investors who bought $1,000 worth of MTUL shares 5 years ago would now be looking at an investment worth $2,816.


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S&P 500 Index

Returns By Period

ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL) has returned 78.51% so far this year and 102.76% over the past 12 months.


ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN

1D
2.87%
1M
23.84%
YTD
78.51%
6M
72.35%
1Y
102.76%
3Y*
62.93%
5Y*
23.01%
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%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MTUL Monthly Returns History

Based on dividend-adjusted daily data since Feb 5, 2021, MTUL's average daily return is +0.11%, while the average monthly return is +2.12%. At this rate, an investment would double in approximately 2.8 years.

Historically, 51% of months were positive and 49% were negative. The best month was Apr 2026 with a return of +32.7%, while the worst month was Apr 2022 at -25.5%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 4 months.

On a daily basis, MTUL closed higher 53% of trading days. The best single day was Apr 9, 2025 with a return of +18.1%, while the worst single day was Apr 4, 2025 at -12.9%.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20261.96%-0.35%-11.99%32.69%29.63%16.06%78.51%
202510.66%-1.58%-12.92%4.38%15.24%5.75%-1.34%1.28%10.42%-0.07%-3.65%-0.56%27.42%
202410.81%18.81%5.66%-9.63%10.71%7.30%-5.62%-0.28%11.79%-0.46%9.78%-7.56%58.70%
2023-1.82%-8.15%-0.26%4.68%-10.37%14.64%2.56%0.17%-10.32%-3.76%18.52%8.85%10.66%
2022-17.80%-6.14%11.03%-25.51%0.15%-15.20%10.16%-3.67%-12.30%24.96%5.81%-6.99%-37.97%
2021-10.93%-3.22%14.76%-3.47%3.85%1.59%8.00%-6.59%17.01%-7.47%-1.55%8.34%

Benchmark Metrics

ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN has an annualized alpha of -1.69%, beta of 2.18, and R2 of 0.69 versus S&P 500 Index. Calculated based on daily prices since February 05, 2021.

  • This ETF captured 212.41% of S&P 500 Index gains and 161.24% of its losses - amplifying both gains and losses, but participating more in upside than downside.
  • Beta of 2.18 means this ETF moves significantly more than S&P 500 Index - expect amplified gains in rallies and amplified losses in downturns.

Alpha
-1.69%
Beta
2.18
0.69
Upside Capture
212.41%
Downside Capture
161.24%

Expense Ratio

MTUL has a high expense ratio of 0.95%, indicating above-average management fees.


Return for Risk

Risk / Return Rank

MTUL ranks 72 for risk / return — better than 72% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.


MTUL Risk / Return Rank: 7272
Overall Rank
MTUL Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
MTUL Sortino Ratio Rank: 5959
Sortino Ratio Rank
MTUL Omega Ratio Rank: 6363
Omega Ratio Rank
MTUL Calmar Ratio Rank: 8383
Calmar Ratio Rank
MTUL Martin Ratio Rank: 8585
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

Return / Risk — by metrics

The table below present risk-adjusted performance metrics for ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL) 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.


MTULBenchmarkDifference
Sharpe ratioReturn per unit of total volatility

+0.18

Sortino ratioReturn per unit of downside risk

-0.05

Omega ratioGain probability vs. loss probability

1.37

1.37

0.00

Calmar ratioReturn relative to maximum drawdown

4.33

2.78

+1.55

Martin ratioReturn relative to average drawdown

17.06

12.44

+4.62

Dividends

Dividend History


ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN doesn't pay dividends

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 MSCI US Momentum 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 MSCI US Momentum Factor TR ETN was 56.83%, occurring on Jun 17, 2022. Recovery took 583 trading sessions.


Related event

Drawdown

Fall

Recovery

Underwater

Bear market2022
-56.83%Jun 2022
7mo 15d2y 4mo
2y 11moNov 2021 - Oct 2024
2025 selloff2025
-39.15%Apr 2025
1mo 18d2mo 23d
4mo 11dFeb 2025 - Jun 2025
2021 bear market2021
-30.49%Mar 2021
20d5mo 4d
5mo 24dFeb 2021 - Aug 2021
2026 bear market2026
-23.86%Mar 2026
2mo 1d10d
2mo 11dJan 2026 - Apr 2026
2025 correction2025
-17.59%Nov 2025
24d1mo 16d
2mo 10dOct 2025 - Jan 2026

Drawdown Indicators


MTULBenchmarkDifference

Max Drawdown

Largest peak-to-trough decline

-56.83%

-56.78%

-0.05%

Max Drawdown (1Y)

Largest decline over 1 year

-23.86%

-9.10%

-14.76%

Max Drawdown (3Y)

Largest decline over 3 years

-39.15%

-18.90%

-20.25%

Max Drawdown (5Y)

Largest decline over 5 years

-56.83%

-25.43%

-31.40%

Max Drawdown (10Y)

Largest decline over 10 years

-33.92%

Current Drawdown

Current decline from peak

0.00%

-1.80%

+1.80%

Average Drawdown

Average peak-to-trough decline

-22.49%

-10.71%

-11.78%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.05%

2.03%

+4.02%

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.


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Portfolio Analyzer

Build a portfolio with MTUL

Add ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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